Fund Profiles

Mawer International Equity Fund Profile

  • As at December 31, 2016
  • Morningstar RatingTM: 5Stars RED
  • Fund Managers:
    David Ragan, CFA 
    Peter Lampert, CFA
  • Fund Inception Date: November 6, 1987
  • Fund Net Asset Value: $4,485.7 million
  • Total Net Asset Value (Series A): $721.5 million
  • Net Asset Value Per Unit: $50.66
  • RRSP Eligibility: Yes
  • Management Expense Ratio: 1.43% (as at Dec 31, 2016)
  • Trading Expense Ratio2: 0.11% (as at Dec 31, 2016)
  • Fund Code: MAW102

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What does this Fund Invest In?

The Fund invests primarily in equity and equity-related securities of entities outside of Canada and the United States. 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. Medium to 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 International Equity Fund

-3.3

8.3 13.2 4.4

International Equity Benchmark**

-3.0 6.1 12.4 2.1

Number of Holdings1:

60

Number of Countries1:

20



Top 25 Holdings

% Share

Aon plc

4.7

Intertek Group plc

4.4

Air Liquide SA

3.4

WPP Plc

3.0

China Mobile Limited

2.9

IHS Markit Ltd.

2.8

TSURUHA Holdings, Inc.

2.8

Anheuser-Busch InBev SA/NV

2.8

Deutsche Boerse AG

2.7

Halma plc

2.6

Croda International Plc

2.5

Sampo Oyj Class A

2.5

Tencent Holdings Ltd.

2.3

Wolters Kluwer NV

2.3

[Cash]

2.3

LIC Housing Finance Ltd

2.2

Lawson, Inc.

2.0

Kone Oyj Class B

2.0

Roche Holding Ltd Genusssch.

2.0

Amadeus IT Group SA Class A

2.0

Bureau Veritas SA

1.9

Nestle S.A.

1.9

Japan Exchange Group, Inc.

1.9

DCC Plc

1.7

LG Household & Health Care Ltd Pfd Shs

1.7


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 International Equity Benchmark History:

Jan 1988: MSCI EAFE (net)
Oct 2016: MSCI ACWI ex-USA (net)

Rationale for Change: MSCI ACWI (net) excluding US Index is a better representation of the mandate in our opinion. For example, the past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and investment policy statement.

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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