Mawer Global Small Cap Fund Profile

  • As at September 30, 2017
  • Morningstar RatingTM: 5Stars RED
  • Fund Managers:
    Paul Moroz, CFA
    Christian Deckart, CFA, Ph.D
  • Fund Inception Date: October 2, 2007
  • Fund Net Asset Value: $2,299.3 million
  • Total Net Asset Value (Series A): $636.8 million
  • Net Asset Value Per Unit: $15.19
  • RRSP Eligibility: Yes
  • Management Expense Ratio: 1.81% (as at Dec 31, 2016)
  • Trading Expense Ratio1: 0.07% (as at Dec 31, 2016)
  • Fund Code: MAW150

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What does this Fund Invest In?

The Fund invests primarily in equity and equity-related securities of smaller companies around the world with less than $3 billion USD in market cap at time of purchase. The amount invested in any one country will vary depending upon individual company by company opportunities in each area. The Fund will diversify through currencies, industries, and countries to increase safety, and to increase the growth and liquidity of the investments. Treasury bills or short-term investments, not exceeding three years to maturity, may also be used from time to time.

Investor Suitability

Investors seeking long-term, above average growth who can tolerate equity volatility. High Risk.

Investment Strategy

In order to achieve its investment strategy objectives, the Manager systematically creates a broadly diversified portfolio of wealth-creating companies with excellent management teams bought at discounts to their intrinsic values. The Manager employs a highly disciplined, research-driven, bottom-up process and long-term holding period to allow for investor recognition or corporate growth, and to minimize transaction costs.


Net Performance*

 

1-Yr

3-Yr

5-Yr

10-Yr

Mawer Global Small Cap Fund

7.9

14.0

20.6

-

Global Small Cap Benchmark**

13.5

13.6

16.5

-

Morningstar Rating

5

4

5

-

Number of Funds in Morningstar Category Global Small/Mid Cap Equity

139

139

96

-


Number of Holdings2:

74

Number of Countries2:

25


Top 25 Holdings

% Weight

Cash & Cash Equivalents

8.0

Constellation Software Inc.

3.9

TSURUHA Holdings, Inc.

3.5

Softcat Plc

3.3

Cembra Money Bank AG

2.9

XP Power Ltd.

2.8

Amsterdam Commodities N.V.

2.8

Bechtle AG

2.6

Origin Enterprises Plc

2.6

VZ Holding AG

2.6

APN Outdoor Group Ltd.

2.5

Ascential Plc

2.4

Jardine Lloyd Thompson Group plc

2.3

Diploma PLC

2.1

Loomis AB Class B

2.1

KWS SAAT SE

2.1

Addtech AB Class B

1.9

RPM International Inc.

1.8

PayPoint plc

1.8

LIC Housing Finance Ltd

1.8

Indutrade AB

1.7

DCC Plc

1.7

PC Jeweller Ltd.

1.6

Kainos Group PLC

1.5

Douglas Dynamics, Inc.

1.5

1   The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during the year.

2   Equity holdings, excluding cash.

*    Mawer Fund returns are reported in Canadian dollars and calculated after management fees and operating expenses have been deducted. In comparison, index returns do not incur management fees or operating expenses.

**  Mawer Global Small Cap Benchmark History (changes made prospectively):

Oct 2007: Russell Global Small Cap
Oct 2016: ACWI Small Cap (net) Total Return index

Rationale for Change: MSCI ACWI Small Cap (Net) Index is consistent with using MSCI benchmarks in other asset classes outside of Canada and the United States. In addition, the MSCI ACWI Small Cap (Net) Index follows the Global Investment Classification Standards (GICS) whereas the Russell Global Small Cap Index does not.

Benchmarks returns are rebalanced on a monthly basis.

 

Read Full Disclosure

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts  and the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mawer Funds are managed by Mawer Investment Management Ltd.

Additionally for money market funds, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

© 2016 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the top 22.5% receiving 4 stars; a fund in the middle 35% receiving 3 stars; and a fund in the bottom 22.5% receiving 2 stars. The Overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. Overall ratings are adjusted where a fund has less than 5 or 10 years of history. For greater detail see www.morningstar.ca.

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Email: investing@mawer.com