PenderFund announces risk rating change to the Pender Value Fund

VANCOUVER, June 24, 2014 /CNW/ - PenderFund Capital Management Ltd. ("Pender"), the manager of the Pender Value Fund (the "Fund"), announces a change to the risk rating associated with investing in the Fund. This change will be reflected in the Fund's simplified prospectus filed on
June 24, 2014 (the "Simplified Prospectus").

Pender assigns an investment risk rating to each of its funds to provide investors with information to help them determine whether a particular fund is suitable to their investment goals and risk tolerance.  Pender previously utilized an internal risk rating methodology to help calibrate the Fund's risk rating. The Investment Fund Institute of Canada (the "IFIC") has established recommended guidelines for determining risk ratings, which Pender has adopted.  Based on the adoption of the IFIC guidelines, Pender has determined to lower the risk rating for the Fund from "medium to high" to "medium." No changes have been made to the investment objectives, strategies or management of the Fund as set out in the Simplified Prospectus.

About PenderFund Capital Management Ltd.
Pender is an independent, employee-owned, value-based investment firm located in Vancouver. Our goal is to create value for our investors by generating superior risk-adjusted returns, while protecting capital and minimizing downside risk.

Pender was founded in 2003 and is the Manager of the Pender Balanced Fund, Pender Canadian Equity Fund, Pender Corporate Bond Fund, Pender Small Cap Opportunities Fund, Pender US All Cap Equity Fund and Pender Value Fund.


Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE: PenderFund Capital Management Ltd.

For further information: Melanie Moore, Director of Marketing,; Toll Free: 1-866-377-4743,


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