Redemptions

The source of funds to meet redemption requests derives from investment income, portfolio gains and “mature investments.” If you hold shares that are eligible for redemption, then redemptions will only be available once the Fund has been able to precipitate a liquidity event within its portfolio of investments.

Since a primary goal has always been to provide liquidity to our shareholders, the Fund proposed a new capital structure at the AGM, held at the end of May 2010. The new structure was aimed at providing shareholders with the ability to maximize returns and the opportunity for earlier liquidity. Shareholders voted to pass all of the special resolutions for the new capital structure.

To see details of the new structure, click here.

To see the full press release, click here.

Class B Shares
Class B Shares may be converted to Class R and Class C shares at any time. Class R Shares are generally redeemable only after the fifth anniversary of the date of issuance. However, Shareholders that purchased their shares of Pender Growth Fund (the “Fund”) at any time prior to March 1, 2008 may submit redemption requests on or before November 30, 2012. Following such date, all valid requests received prior to such date will be redeemed with funds available to meet redemptions of Redeemable Shares on a pro rata basis.
Please click here for the Conversion Form.

Class R Shares
Class R Shares are generally redeemable only after the fifth anniversary of the date of issuance. However, Shareholders that purchased their shares of Pender Growth Fund (the “Fund”) at any time prior to March 1, 2008 may submit redemption requests on or before November 30, 2012. Following such date, all valid requests received prior to such date will be redeemed with cash available to meet redemptions of Redeemable Shares on a pro rata basis.

In the meantime if you have any questions or would like more information, please contact: Sarah Scott, 604-630-5453, sscott@penderfund.com.