Mawer Global Equity Fund

As at September 30, 2018

Morningstar RatingTM: (as at Sep 30, 2018)
Fund Inception Date: October 22, 2009
Fund Net Asset Value: $4,012.4 million
Total Net Asset Value (Series A): $667.1 million
Net Asset Value Per Unit: $28.97
RRSP Eligibility: Yes
Management Expense Ratio: 1.33% (as at Dec 31, 2017)
Trading Expense Ratio1: 0.06% (as at Dec 31, 2017)
Fund Code: MAW120

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, 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 Since Inception
Mawer Global Equity Fund 16.8 12.2 14.8 - 13.5
Global Equity Benchmark 13.5 11.8 14.2 - 12.3
Morningstar Rating 4 4 5 - N/A
Number of Funds in Morningstar Category Global Equity 1,624 1,098 830 - N/A

Number of Holdings2: 70
Number of Countries2: 19

Top 25 Holdings% Weight
Cash & Cash Equivalents 5.4
S&P Global, Inc. 4.1
JPMorgan Chase & Co. 4.0
Alphabet Inc. Class C 3.4
Becton, Dickinson and Company 3.3
Aon plc 3.2
Air Liquide SA 3.0
Wolters Kluwer NV 2.9
Visa Inc. Class A 2.7
Croda International Plc 2.5
Union Pacific Corporation 2.3
DBS Group Holdings Ltd 2.3
BlackRock, Inc. 2.3
Deutsche Boerse AG 2.3
Constellation Software Inc. 2.2
Intertek Group plc 2.1
Novartis AG Sponsored ADR 1.7
KAR Auction Services, Inc. 1.6
Johnson & Johnson 1.6
CSX Corporation 1.6
AMETEK, Inc. 1.6
AIA Group Limited 1.5
Verizon Communications Inc. 1.5
DCC Plc 1.5
Praxair, Inc. 1.5

1 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.

2 Equity holdings excluding cash.

Benchmark History

Mawer Global Equity Benchmark History (changes made prospectively):

Oct: 2009: MSCI World (net)
Oct 2016: MSCI ACWI (net)

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

Benchmark returns are rebalanced on a monthly basis.

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. 

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and are annualized compounded total returns for periods after 1 year. Index returns are supplied by a third party—we believe the data to be accurate, however, cannot guarantee its accuracy. Index returns sourced from FTSE russell, FactSet, and BMO Capital Markets.

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.

Additionally for money market funds, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. 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 security at a constant amount or that the full amount of your investment in the fund will be returned to you.

Ready to invest?

We offer several ways to invest with based on your level of investment and desired level of advice.