Pender Fund’s Q4 2020 Investor Letter

Penderfund Capital Management Ltd, an independent, and value-based mutual fund company, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. In their letter, the fund discussed about how to protect the accumulated gains when a certain security sets new highs and some projections of what might come next for frontier investing. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.