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Mawer Global Equity Fund
As at September 30, 2025
Morningstar Rating™
(As at Sep 30, 2025)
Fund Managers:
Paul Moroz, CFA
David Ragan, CFA
Manar Hassan-Agha, CFA
Series Start Date:
Oct 22, 2009
Fund Net Asset Value:
$7,336.00 million
Total Net Asset Value (Series A):
$1,052.10 million
Net Asset Value Per Unit:
$47.64
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.31% (as at 30 Jun 2025)
Trading Expense Ratio†:
0.03% (as at 30 Jun 2025)
Fund Code:
MAW120
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Patience and Progress: Navigating Japan’s Investment Terrain | EP 198
October 1, 2025
18 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 (%)
Microsoft Corp5.3
Taiwan Semiconductor Manufacturing Co Ltd4.5
Alphabet Inc4.0
Amazon.com Inc3.8
Marsh & McLennan Cos Inc3.8
Booking Holdings Inc3.7
Visa Inc2.9
Publicis Groupe SA2.9
Berkshire Hathaway Inc2.9
Cash and Cash Equivalents2.9
Tencent Holdings Ltd2.7
Meta Platforms Inc2.6
Roche Holding AG2.5
Northrop Grumman Corp2.3
Wolters Kluwer NV2.3
Aon PLC2.1
Alimentation Couche-Tard Inc2.1
CGI Inc2.1
Amphenol Corp2.0
FTI Consulting Inc1.9
KDDI Corp1.9
CDW Corp/DE1.9
Admiral Group PLC1.7
JDE Peet's NV1.7
Orkla ASA1.7
Net Performance‡
As at September 30, 2025
1 Yr3 Yr5 Yr10 Yr
Mawer Global Equity Fund-0.711.17.19.4
Global Equity Benchmark‖20.823.614.512.3
Morningstar Rating™
1
2
2
4
Number of Funds in Morningstar Category
1807
1550
1287
658
Number of Holdings§75
Number of Countries§16
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
14.3
8.8
11.2
10.7
7.8
5.3
0.0
3.5
24.3
17.4
7.6
8.5
13.6
10.7
17.5
27.2
1.0
3.6
0.0
1.9
0.0
2.6
2.9
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
7.9
11.0
4.9
2.9
7.9
10.8
22.2
11.3
3.6
4.8
0.0
0.8
0.0
1.3
5.3
3.2
53.2
64.7
2.9
0.0
Emerging Markets
7.9
10.8
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Patience and Progress: Navigating Japan’s Investment Terrain | EP 198
October 1, 2025
18 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 A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
§ Equity holdings excluding cash.
‖ See benchmark history.