Fund Profiles

Mawer Global Small Cap Fund Profile

  • As at December 31, 2016
  • Morningstar RatingTM: 5Stars RED
  • Fund Managers:
    Paul Moroz, CFA
    Christian Deckart, CFA, Ph.D
  • Fund Inception Date: October 2, 2007
  • Fund Net Asset Value: $2,052.9 million
  • Total Net Asset Value (Series A): $570.9 million
  • Net Asset Value Per Unit: $13.64
  • RRSP Eligibility: Yes
  • Management Expense Ratio: 1.81% (as at Dec 31, 2016)
  • Trading Expense Ratio2: 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

-0.7

12.9

22.3

-

Global Small Cap Benchmark**

8.3

11.8

16.7

-


Number of Holdings1:

84

Number of Countries1:

25


Top 25 Holdings

% Share

[Cash]

6.1

Constellation Software Inc.

4.0

Loomis AB Class B

3.8

DCC Plc

3.7

PayPoint plc

3.2

APN Outdoor Group Ltd.

2.9

VZ Holding AG

2.8

Bank of Hawaii Corporation

2.7

Cembra Money Bank AG

2.6

Origin Enterprises Plc

2.6

Amsterdam Commodities N.V.

2.5

Cineworld Group plc

2.5

Diploma PLC

2.5

NCC Group plc

2.3

Balkrishna Industries Limited

2.2

RPM International Inc.

2.1

Haw Par Corporation Limited

2.1

XP Power Ltd.

2.0

PC Jeweller Ltd.

1.9

Addtech AB Class B

1.8

Hansen Technologies Limited

1.8

ATN International, Inc.

1.6

Tikkurila Oyj

1.6

Indutrade AB

1.6

Douglas Dynamics, Inc.

1.5


1   Equity holdings, excluding cash.

2   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.

*    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.

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