08:15 AM EDT, 05/28/2025 (MT Newswires) -- Pender Growth Fund ( PNDDF ) overnight Tuesday said it swung to a net loss in the first-quarter.

The company posted a first-quarter net loss of about $6.8 million, compared to net income of around $12.3 million in the corresponding year-ago quarter. The company attributed the net loss to negative investment performance during the year.

The loss lowered the fund's total shareholders' equity to $116 million at the end of the quarter from $123.1 million at the end of 2024.

In the first quarter, the company had negative revenue of about $6 million, compared with revenue of $14.1 million in the same quarter last year.

"While macro events have driven investor sentiment, we have remained focused on our bottom-up fundamental research to identify companies that can thrive in a wide range of economic scenarios," said the company. "We believe that this environment provides compelling opportunities for long-term focused investors and that the Company is well-positioned to continue to pursue its investment objectives."