David Barr
Credit: Courtesy of PenderFund Capital Management

David Barr, president and portfolio manager with PenderFund Capital Management

Pender Small Cap Opportunities Fund focuses on undervalued Canadian companies

Vancouver fund manager David Barr’s winning streak continues. On November 8 in Toronto, the PenderFund Capital Management Ltd. president and portfolio manager took home yet another Thomson Reuters Lipper Fund Award. This is the third consecutive year that value investor Barr’s Pender Small Cap Opportunities Fund has won the Canadian Focused Small/Mid Cap Equity category.

The $187-million fund, launched in 2009 and closed to purchases since 2015, runs an opportunistic, concentrated portfolio consisting mostly of undervalued small and micro-cap Canadian companies, according to PenderFund. Since inception through October 31, Pender Small Cap Opportunities has posted a 19-per-cent and 20.1-per-cent compound annual return, respectively, on its Class A and Class F shares.

In a 2014 interview with us, Barr said that one of his recent stock picks was Vancouver-based bill-payment-processing company Tio Networks Corp. Founder Hamed Shahbazi, a 2017 Entrepreneur of the Year winner in the Financial Services category, sold Tio to U.S. titan PayPal Holdings Inc. last July for $302 million.