Pender launches global small- and mid-cap fund led by 25-year veteran Teresa Lee
What's the deal? PenderFund Capital ManagementDealroom has a profile for this one. Try Dealroom → has launched the Pender Global Small/Mid Cap Opportunities Fund, targeting risk-adjusted returns from growing global small- and mid-cap companies. The Vancouver-based firm announced the fund on August 31, 2026.
Who's running it? Teresa Lee, CFA, will manage the fund. She is head of equity research at Pender and co-manager of the Pender Global Small/Mid Cap Equity Fund.
Lee joined Pender in January 2026 with more than 25 years of investment management experience. She was previously co-chief investment officer at Sionna Investment ManagersDealroom has a profile for this one. Try Dealroom →, where she ran small cap, all cap, and high conviction mandates.
Why now? Lee argues the timing favours the asset class. "We believe the current environment presents a compelling opportunity to increase exposure to global small- and mid-cap companies," she said, pointing to businesses "trading at valuations that do not reflect their quality or long-term potential."
What's the endgame? The fund extends Pender's focus on inefficient corners of the market where active management can add an edge. "The launch reflects our conviction that active management can outperform in inefficient parts of the market such as small cap equities," said chief investment officer Greg Taylor.
Founded in 2003, Pender is an independent, employee-owned firm managing a suite of equity, fixed income, alternative, and venture funds.
The signal: The launch is a bet that overlooked smaller companies offer better value than crowded large-cap names — a thesis that hinges on Pender's research discipline uncovering winners the broader market has missed.
Read more: penderfund.com
Image credit: PenderFund Capital Management
