Mawer Emerging Markets Equity Fund

As at September 30, 2022
Morningstar Rating™
(as at Sep 30, 2022)
Fund Managers:
Peter Lampert, CFA
Wen Quan Cheong, CFA
Series Start Date:
Jan 31, 2017
Fund Net Asset Value:
$275.8 million
Total Net Asset Value (Series A):
$38.6 million
Net Asset Value Per Unit:
$9.50
RRSP Eligibility:
Yes
Management Expense Ratio * :
1.60% (as at Jun 30, 2022)
Trading Expense Ratio :
0.19% (as at Jun 30, 2022)
Fund Code:
MAW160

Fund Profile

Morningstar Rating™
(as at Sep 30, 2022)
Fund Managers:
Peter Lampert, CFA
Wen Quan Cheong, CFA
Series Start Date:
Jan 31, 2017
Fund Net Asset Value:
$275.8 million
Total Net Asset Value (Series A):
$38.6 million
Net Asset Value Per Unit:
$9.50
RRSP Eligibility:
Yes
Management Expense Ratio * :
1.60% (as at Jun 30, 2022)
Trading Expense Ratio :
0.19% (as at Jun 30, 2022)
Fund Code:
MAW160

What Does this Fund Invest In?

The Fund invests primarily in equity and equity related securities of companies located or active in emerging market countries. 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 significant volatility. Medium-high 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.

What Does this Fund Invest In?

The Fund invests primarily in equity and equity related securities of companies located or active in emerging market countries. 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 significant volatility. Medium-high 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 (%)
Taiwan Semiconductor Manufacturing Co., Ltd. 5.5
HDFC Bank Limited 4.4
China Yangtze Power Co., Ltd. Class A 4.2
Cash & Cash Equivalents 4.2
Tencent Holdings Ltd. 4.0
Samsung Electronics Co., Ltd. 3.6
Kaspi.kz JSC Sponsored GDR RegS 3.3
Wuliangye Yibin Co., Ltd. Class A 3.3
Infosys Limited Sponsored ADR 3.3
AIA Group Limited 3.1
Salik Company PJSC 3.1
International Games System Co., Ltd. 3.0
Guangdong Great River Smarter Logistics Co., Ltd. Class A 2.9
LIVECHAT Software S.A. 2.9
Sporton International Inc. 2.8
Milkyway Chemical Supply Chain Service Co., Ltd. Class A 2.7
Baltic Classifieds Group Plc 2.7
Netease Inc 2.6
Alibaba Group Holding Ltd. 2.6
Grupo Mexico S.A.B. de C.V. Class B 2.5
momo.com Incorporated 2.5
National Atomic Company Kazatomprom JSC Sponsored GDR RegS 2.5
First Abu Dhabi Bank P.J.S.C. 2.3
Great Tree Pharmacy Co., Ltd. 2.3
Mobile World Investment Corp 2.1

Net Performance

1 Yr 3 Yr 5 Yr 10 Yr Since Inception §
Mawer Emerging Markets Equity Fund -33.8 -5.8 -2.2 - -0.4
MSCI Emerging Markets Index (net) -22.0 -0.8 0.1 - 2.7
Morningstar Rating™ 1 2 2 - -
Number of Funds in Morningstar Category 283 249 198 - -
Number of Holdings 44
Number of Countries 14

Equity Sector Weights

Sector: Communication services
  • Portfolio : 13.4
  • MSCI Emerging Markets Index (net) : 9.7
Sector: Consumer discretionary
  • Portfolio : 11.8
  • MSCI Emerging Markets Index (net) : 14
Sector: Consumer staples
  • Portfolio : 9.2
  • MSCI Emerging Markets Index (net) : 6.6
Sector: Energy
  • Portfolio : 5.2
  • MSCI Emerging Markets Index (net) : 5.3
Sector: Financials
  • Portfolio : 15.2
  • MSCI Emerging Markets Index (net) : 22.6
Sector: Health care
  • Portfolio : 0
  • MSCI Emerging Markets Index (net) : 3.9
Sector: Industrials
  • Portfolio : 14.8
  • MSCI Emerging Markets Index (net) : 5.8
Sector: Information technology
  • Portfolio : 19.5
  • MSCI Emerging Markets Index (net) : 18.3
Sector: Materials
  • Portfolio : 2.5
  • MSCI Emerging Markets Index (net) : 8.7
Sector: Real estate
  • Portfolio : 0
  • MSCI Emerging Markets Index (net) : 2
Sector: Utilities
  • Portfolio : 4.2
  • MSCI Emerging Markets Index (net) : 3.2
Sector: Cash & cash equivalents
  • Portfolio : 4.2
  • MSCI Emerging Markets Index (net) : 0

Regional Weights

Region: Asia (Ex. China, India, Taiwan, South Korea
  • Portfolio : 2.9
  • MSCI Emerging Markets Index (net) : 6.6
Region: China/Hong Kong
  • Portfolio : 28.4
  • MSCI Emerging Markets Index (net) : 31.4
Region: EMEA (Europe, Middle East, Africa)
  • Portfolio : 18.9
  • MSCI Emerging Markets Index (net) : 13.3
Region: India
  • Portfolio : 7.6
  • MSCI Emerging Markets Index (net) : 15.3
Region: Latin America
  • Portfolio : 6.8
  • MSCI Emerging Markets Index (net) : 9
Region: South Korea
  • Portfolio : 10.6
  • MSCI Emerging Markets Index (net) : 10.7
Region: Taiwan
  • Portfolio : 19.3
  • MSCI Emerging Markets Index (net) : 13.8
Region: Cash & Cash Equivalents
  • Portfolio : 4.2
  • MSCI Emerging Markets Index (net) : 0

Disclaimers

  • * Fund’s MER is made up of the management fee and operating expenses. The Fund’s annual management fee is 1.30% 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 1.60%. 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 1.60%.
  • 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 Emerging Markets Equity Fund Series A inception: January 31, 2017. 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. 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.

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.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

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