Penderfund Completes Transition / Takes Over Management Of The Pender Alternative Select Equity Fund

(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Aug. 29, 2025 (GLOBE NEWSWIRE) -- PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that as of August 28, 2025 Purpose Investments Inc. (“Purpose”) has assigned the management and trusteeship of Purpose Select Equity Fund to Pender, whereupon it has been renamed Pender Alternative Select Equity Fund (the“Fund”).

This transition was approved by unitholders on August 13, 2025. The Fund's portfolio manager, Greg Taylor, joined Pender as Chief Investment Officer in May 2025 which precipitated the change.

Greg commented,“I have been managing this fund since inception. Having adapted to all market conditions over that period with a goal of achieving excess returns with lower volatility, the fund is a natural candidate for a liquid alternative structure. I am looking forward to continuing to manage the fund for our existing long-term investors, and to introducing it to new investors.”

Geoff Scott, Executive Vice President of Sales & Marketing said,“The inclusion of the Pender Alternative Select Equity Fund in Pender's platform marks an exciting step in expanding our investment capabilities in alternative equities and enhancing the equity portion of our liquid alternative offerings. This development complements the success of our existing liquid alternative fund lineup, which features strategies designed to complement traditional asset classes for our clients.”

The following material changes were approved, as more particularly described in the Fund's simplified prospectus, which may be found here:

• Change of trustee and manager to Pender
• Change of the Fund's investment objectives
• Change of the calculation of the performance and administration fees
• Change of the Fund's auditor from Ernst & Young LLP to KPMG LLP

Purpose assigned the Declaration of Trust dated August 15, 2025, which governed the Fund to Pender on August 28, 2025. The Fund was then transferred to Pender's Trust Agreement dated August 28, 2025.

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 a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal.

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For further information, please contact:
Melanie Moore
Vice President of Marketing, PenderFund Capital Management Ltd.
...
(604) 688-1511
Toll Free: (866) 377-4743

Forward-Looking Information

This news release contains certain“forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as“expect” or“proposed” and other similar words, or statements that certain events or conditions“may” or“will” occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of the manager at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

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