PenderFund

Exploring how tokenization is reshaping ownership and financial infrastructure

In this episode, we discuss an important, and yet misunderstood idea at the intersection of technology and finance: tokenization. While much of the conversation around digital assets has focused on cryptocurrency, tokenization is fundamentally about the evolution of ownership and the evolution of financial infrastructure. To unpack these questions, Laura Baker, Associate Client Portfolio Manager, is joined by Sébastien Davies, Partner at Primal Capital, focused on early-stage financial and digital asset infrastructure. Drawing on his background in institutional capital markets and digital asset platforms, Sébastien discusses how tokenization is moving from experimentation toward real-world adoption, and what that could mean for investors, institutions, and the future of markets.

Valuation dispersion, software pessimism, and shifting capital flows may be setting the stage for a new cycle in small-cap investing.

In this episode, Associate Client Portfolio Manager, Laura Baker speaks with CEO and Portfolio Manager, David Barr about small caps, the reset in software valuations, and how AI is reshaping both risk and opportunity. The conversation explores private market value, capital efficiency, and why today's uncertainty may present one of the more compelling entry points in years for active investors.

Defense Strategy, Global Tension & Investor Implications

In this episode of the Pender Podcast, Laura Baker, Associate Client Portfolio Manager, is joined by Retired Vice Admiral Mark Norman to discuss Canada's evolving defense landscape and why it matters in today's geopolitical and investment environment. Drawing on decades of military leadership and policy experience, the conversation explores defense readiness, procurement challenges, Arctic security, and the growing intersection between national security, technology, and capital markets.

Navigating Macro Uncertainty, Thematics, and Standout Performers

In this episode, Laura Baker, Associate Client Portfolio Manager, is joined by Amar Pandya, Portfolio Manager, and Ruben Gomez Garcia, Equity Analyst, to break down the major themes, trends, and standout moments from Q3 2025 across Pender's small/mid cap portfolios. The team discusses resilience in the face of macro uncertainty, key thematics driving performance, and highlights several companies that delivered exceptional results.

Inside the fund's first year: lessons, opportunity sets, and 2026 themes

Celebrating one year of the Pender US Small/Mid Cap Equity Fund. In this episode, Laura Baker sits down with Aman Budhwar to reflect on the Fund's first year, the investment framework behind its early consistency, and how Aman is navigating opportunity and risk across the US small/mid cap space. They discuss AI-driven themes, sector diversification, portfolio construction discipline, and opportunities looking into 2026.

Re-acceleration, rotations, and macro turning points.

In this annual conversation, Geoff Castle, Lead Portfolio Manager, Fixed Income sits down with Callum Thomas, Head of Research at Topdown Charts to look back on last year's big macro calls, then look ahead to 2026. They cover the case for a global growth re-acceleration, why bonds might still offer better value than equities, what Japan's long bond is signalling, and how to think about commodities, currencies and private credit risk in a world of shifting cycles.

Subtitle: A Market Isn't Always Just One Thing Forever

In this episode, Laura Baker, Associate Portfolio Manager at Pender, sits down with Lead Portfolio Manager, Fixed Income Geoff Castle, Portfolio Manager Emily Wheeler and Associate Portfolio Manager Parul Garg to discuss the recent recognition of two of Pender's fixed income funds with 2025 LSEG Lipper Fund Awards. The team shares the drivers behind their consistent performance, their disciplined investment process and their outlook on risks and opportunities in the evolving credit landscape.

Disclaimer

Geoff and Callum revisit the big themes in 2024 and tally which of their 2023 calls went right. They look ahead to 2025 and beyond and discuss the current market cycle, and where opportunities are in global small caps, Treasuries, commodities and the commercialization of space. A must-listen for professional and regular investors alike.

This is the first in a new Pender Ventures podcast series reflecting the scale-up stories of some of the great Canadian technology companies.

We kick off with the story of PMC-Sierra, a pioneering and leading semiconductor chipset supplier that specialized in the design and development of integrated circuits for networking, telecommunications and data storage.

Maria Pacella, Managing Partner of Pender Ventures sat down with three key executives and co-founders, each of whom made significant contributions to the semiconductor industry, Greg Aasen, Kevin Huscroft and Colin Harris.

They look back on the critical phases of PMC-Sierra's evolution, the strategic decisions made by leadership, its impact on the broader tech landscape, navigating 2000, and what they'd do differently if they had to do it all again.

In this discussion, hosted by Rita Silvan, Parul Garg, Pender's distressed credit expert in default securities, reorganizations and recapitalizations, discusses the impending catalysts for generating meaningful alpha in distressed debt in the next 3-to-5 years, and how a public credit strategy complements investing in private credits. She explains the various approaches to creating value and managing risk in both the Pender Credit Opportunities Fund and Pender Corporate Bond Fund portfolios.