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Mawer Global Equity Fund
As at September 30, 2026
Morningstar Rating™
(As at September 30, 2026)
Fund Managers:
Paul Moroz, CFA
David Ragan, CFA
Series Start Date:
Oct 22, 2009
Fund Net Asset Value:
$4,771.90 million
Total Net Asset Value (Series F):
$697.50 million
Net Asset Value Per Unit:
$51.19
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.34% (as at June 30, 2026)
Trading Expense Ratio†:
0.12% (as at June 30, 2026)
Fund Code:
MAW120
Related Links
Quarterly Update | Q3 2026 | EP 232
October 14, 2026
22 Mins
The Investor’s Sword and Shield | EP228
September 25, 2026
26 Mins
The Odyssey, the AI Trade, and Concentration Risk | EP 219
July 2, 2026
30 Mins
Performance
Performance
Fund Documents
Fund Documents
Prices
Prices
Fund Commentary
Fund Commentary
What Does this Fund Invest In?
The Fund invests in equity securities of companies from around the world. The Manager will allocate capital to the best global opportunities, which may include both large and small capitalization companies. Treasury bills or short-term investments, not exceeding three years to maturity will also be used.
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 HoldingsWeight (%)
Taiwan Semiconductor Manufacturing Co Ltd5.8
Alphabet Inc4.4
Microsoft Corp4.2
NVIDIA Corp4.1
Amazon.com Inc3.9
Visa Inc3.1
SK hynix Inc3.0
Meta Platforms Inc2.9
Cash and Cash Equivalents2.7
Shell PLC ADR2.6
Berkshire Hathaway Inc2.4
Wells Fargo & Co2.0
Cencora Inc1.9
Marsh & McLennan Cos Inc1.8
Roche Holding AG1.8
Waters Corp1.8
Bunzl PLC1.8
Tencent Holdings Ltd1.7
MediaTek Inc1.6
JPMorgan Chase & Co1.6
Orkla ASA1.5
Northrop Grumman Corp1.5
DNB Bank ASA1.5
AstraZeneca PLC1.4
ITOCHU Corp1.3
Net Performance‡
As at September 30, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer Global Equity Fund12.99.36.49.5
Global Equity Benchmark19.123.714.113.3
Morningstar Rating™
3
1
2
3
Number of Funds in Morningstar Category
1835
1590
1388
815
Number of Holdings§90
Number of Countries§18
Equity Sector Weights
Portfolio
Global Equity Benchmark
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
10.0
8.0
6.9
8.2
2.4
4.5
2.6
4.0
22.0
16.2
9.1
8.4
13.7
10.3
25.2
33.2
2.2
3.5
0.0
1.4
3.2
2.2
2.7
0.0
Regional Weights
Portfolio
Global Equity Benchmark
Asia Pacific Ex. Japan
Canada
Emerging Markets
Europe Ex. U.K.
Japan
Latin America
Middle East/Africa
United Kingdom
United States
Cash & Cash Equivalents
15.0
12.1
1.2
2.9
14.6
12.0
17.1
10.6
4.6
5.2
0.0
0.8
0.0
1.1
9.8
3.0
49.6
64.2
2.7
0.0
Emerging Markets
14.6
12.0
Related Links
Quarterly Update | Q3 2026 | EP 232
October 14, 2026
22 Mins
The Investor’s Sword and Shield | EP228
September 25, 2026
26 Mins
The Odyssey, the AI Trade, and Concentration Risk | EP 219
July 2, 2026
30 Mins
Disclaimers
* Management expense ratio (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily average net assets during the period.
† 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 F-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
§ Equity holdings excluding cash.