Fund Profiles

Mawer Global Small Cap Fund Profile

  • As at March 31, 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: $2,151.1 million
  • Total Net Asset Value (Series A): $569.8 million
  • Net Asset Value Per Unit: $14.33
  • 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

11.4

12.0

20.9

-

Global Small Cap Benchmark**

22.7

11.5

15.3

-


Number of Holdings2:

82

Number of Countries2:

23


Top 25 Holdings

% Share

Cash & Equivalents

7.1

Constellation Software Inc.

4.0

Loomis AB Class B

3.7

APN Outdoor Group Ltd.

3.3

PayPoint plc

3.1

Cembra Money Bank AG

3.1

Amsterdam Commodities N.V.

2.7

Origin Enterprises Plc

2.7

Ascential Plc

2.4

VZ Holding AG

2.4

XP Power Ltd.

2.3

Diploma PLC

2.3

RPM International Inc.

2.2

Haw Par Corporation Limited

2.2

DCC Plc

2.2

Balkrishna Industries Limited

2.1

Softcat Plc

2.1

LIC Housing Finance Ltd

1.8

Addtech AB Class B

1.8

PC Jeweller Ltd.

1.8

Jardine Lloyd Thompson Group plc

1.7

Tikkurila Oyj

1.6

Cineworld Group plc

1.5

Hansen Technologies Limited

1.5

ARA Asset Management Limited

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 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:

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.

 

Read Full Disclosure

This document is for information purposes only. Before investing, please consult the simplified prospectus, available at www.sedar.com, and the Fund Facts. Both documents provide additional information about the funds.

Mutual funds are not guaranteed. Values can change frequently and past performance is not indicative of future performance. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. (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 share or that the full amount of your investment will be returned to you.)

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 1 year period and are annualized compounded total returns for periods after 1 year. They include 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.

Index returns are supplied by a third party – we believe the data to be accurate, however, cannot guarantee its accuracy.

© 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) in 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.

Morningstar Ratings reflect performance as of 03/31/2017 and are subject to change monthly. The ratings are calculated from a fund’s 3,5,and 10-year returns measured against 91-day Treasury bill and peer group returns. The top 10% of the funds in a category get five stars. The Overall Rating is a weighted combination of the 3,5 and 10-year ratings. For greater detail see www. morningstar.ca

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