The Fund invests primarily in equity and equity related securities of larger companies located in developed countries outside of Canada and the United States, primarily in Europe, Australasia and the Far East (EAFE). Treasury bills or short-term investments, not exceeding three years to maturity, may also be used from time to time.
Mawer EAFE Large Cap Fund
As at March 31, 2023- Morningstar Rating™ *
- N/A (as at Mar 31, 2023)
- Fund Managers:
-
David Ragan, CFA
Jim Hall, CFA, MBA
- Series Start Date:
- May 29, 2020
- Fund Net Asset Value:
- $70.9 million
- Total Net Asset Value (Series A):
- $6.8 million
What Does this Fund Invest In?
The Fund invests primarily in equity and equity related securities of larger companies located in developed countries outside of Canada and the United States, primarily in Europe, Australasia and the Far East (EAFE). 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 risk.
Investment Strategy
In order to achieve its investment 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.
Top Holdings
| Top Holdings | Weight (%) |
|---|---|
| Cash & Cash Equivalents | 5.1 |
| BAE Systems plc | 3.7 |
| Wolters Kluwer NV | 3.6 |
| Novo Nordisk A/S Class B | 3.4 |
| LVMH Moet Hennessy Louis Vuitton SE | 3.0 |
| Disco Corporation | 2.5 |
| RELX PLC | 2.4 |
| Bunzl plc | 2.3 |
| DBS Group Holdings Ltd | 2.3 |
| Compass Group PLC | 2.2 |
| KDDI Corporation | 2.2 |
| Deutsche Boerse AG | 2.1 |
| Air Liquide SA | 2.1 |
| Koninklijke Ahold Delhaize N.V. | 2.0 |
| HOYA CORPORATION | 1.9 |
| Diageo plc | 1.9 |
| Ashtead Group plc | 1.8 |
| Roche Holding Ltd Dividend Right Cert. | 1.8 |
| SMC Corporation | 1.8 |
| ASML Holding NV | 1.8 |
| Genmab A/S | 1.7 |
| Svenska Handelsbanken AB Class A | 1.7 |
| Iberdrola SA | 1.7 |
| InterContinental Hotels Group PLC | 1.7 |
| JDE Peet's NV | 1.7 |
Equity Sector Weights
Regional Weights
Disclaimers
- * Funds with less than three years of performance history are not rated.
- † The Fund’s MER is made up of the management fee and operating expenses. The Fund’s annual management fee is 1.10% of the Fund’s value. Because this fund is new, its operating expenses are relatively large in comparison to the fund’s assets. Mawer Investment Management Ltd. has committed to subsidize the operating expenses of the Fund from its inception so that the MER is no more than 1.40%; without the subsidy the MER may be higher. Mawer Investment Management Ltd. reserves the right to terminate the subsidy at any time. Management plans to review the subsidy periodically with the intent to remove the subsidy once the MER of the Fund has stabilized. After the subsidized period ends, the actual MER for the Fund may be higher than 1.40%. Because this series is new, its trading costs are not yet available.
- ‡ 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.
- § Performance has been presented for the A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
- ‖ Mawer EAFE Large Cap Fund Series A inception: May 29, 2020. Since Inception performance has been calculated from the month-end after the initial funding of the mutual fund in order to provide a comparison against a monthly benchmark.
- ¶ Equity holdings excluding cash.
Mawer Mutual Funds are managed by Mawer Investment Management Ltd. Mawer Mutual 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.
Index returns are supplied by a third party—we believe the data to be accurate, however, cannot guarantee its accuracy. Index returns are sourced from FTSE Russell, FactSet and BMO Capital Markets.
Performance returns for the Mawer Mutual Funds and benchmarks are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and annualized compounded total returns for periods after 1 year.
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 Mutual Funds are managed by Mawer Investment Management Ltd.
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