VANCOUVER, British Columbia, June 25, 2021 (GLOBE NEWSWIRE) — PenderFund Capital Management Ltd. (“Pender”), the Manager of the Pender Funds (the “Funds”), announces that the risk ratings of the funds listed below have changed. As part of its review of the investment risk level of its mutual funds, and applying the standardized risk classification methodology as set out in Appendix F to National Instrument 81- 102 Investment Funds, the Manager has determined that the investment risk levels of certain of the Funds have changed and these changes were reflected in the Funds’ annual simplified prospectus renewal, which was filed on June 25, 2021.
| Fund | New Risk Rating | Prior Risk Rating |
| Pender Global Focused Fund (formerly Pender US All Cap Equity Fund) Class A (US$), Class (US$) and Class N (US$) | High | Medium to High |
| Pender Small Cap Opportunities Fund | Medium to High | Medium |
| Pender Value Fund | Medium to High | Medium |
| Pender Value Fund II | High | Medium to High |
A summary of the methodology used by Pender to identify the risk rating of each of the Funds can be found in the Funds’ simplified prospectus available on SEDAR at www.sedar.com. This methodology is also available by calling toll-free 1-866-377-4743 or sending an email to info@penderfund.com.
The risk rating for each of the Funds is reviewed at a minimum on an annual basis, as well as when a Fund undergoes a material change. No material changes have been made to the investment objectives, strategies or management of the Pender Funds, other than certain changes to the investment objectives of Pender Global Focused Fund and Pender Special Situations Fund (formerly Pender Strategic Investment Fund) and certain associated changes which were implemented on June 25, 2021. For more information on these changes, please see the news release and material change report dated June 25, 2021 in respect of these Funds. The above noted change in respect of Pender Global Focused Fund’s risk rating was the result of an annual review and not due to changes to its investment objectives or strategies.
About PenderFund Capital Management Ltd.
Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage our suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal. For more information on Pender and for standard performance information on our funds, please visit www.penderfund.com or www.fondspender.com.
Please read important disclosures at www.penderfund.com/disclaimer. For further information please contact:
Melanie Moore
Vice President, Marketing
Toll Free: 1-866-377-4743
mmoore@penderfund.com
