Mawer Global Equity Fund

As at June 30, 2023
Morningstar Rating™
(as at Jun 30, 2023)
Fund Managers:
Christian Deckart, CFA, PhD
Paul Moroz, CFA
Series Start Date:
Oct 22, 2009
Fund Net Asset Value:
$11,648.8 million
Total Net Asset Value (Series A):
$1,224.8 million
Net Asset Value Per Unit:
$42.00
RRSP Eligibility:
Yes
Management Expense Ratio * :
1.30% (as at Jun 30, 2023)
Trading Expense Ratio :
0.04% (as at Jun 30, 2023)
Fund Code:
MAW120

Fund Profile

Morningstar Rating™
(as at Jun 30, 2023)
Fund Managers:
Christian Deckart, CFA, PhD
Paul Moroz, CFA
Series Start Date:
Oct 22, 2009
Fund Net Asset Value:
$11,648.8 million
Total Net Asset Value (Series A):
$1,224.8 million
Net Asset Value Per Unit:
$42.00
RRSP Eligibility:
Yes
Management Expense Ratio * :
1.30% (as at Jun 30, 2023)
Trading Expense Ratio :
0.04% (as at Jun 30, 2023)
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 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 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 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 (%)
Marsh & McLennan Companies, Inc. 4.9
Alimentation Couche-Tard Inc. 4.0
Microsoft Corporation 3.9
Wolters Kluwer NV 3.8
Aon Plc Class A 3.8
CGI Inc. Class A 3.7
Bayerische Motoren Werke AG 3.3
Publicis Groupe SA 3.1
KDDI Corporation 3.0
FTI Consulting, Inc. 2.9
Roche Holding Ltd Dividend Right Cert. 2.7
Bunzl plc 2.5
CDW Corporation 2.5
Johnson & Johnson 2.4
Novo Nordisk A/S Class B 2.4
JDE Peet's NV 2.3
Nestle S.A. 2.0
Cash & Cash Equivalents 2.0
Amphenol Corporation Class A 2.0
Alphabet Inc. Class C 1.9
XP Inc. Class A 1.9
Insperity, Inc. 1.9
Booking Holdings Inc. 1.9
Intercontinental Exchange, Inc. 1.8
Admiral Group plc 1.8

Net Performance

1 Yr 3 Yr 5 Yr 10 Yr
Mawer Global Equity Fund 18.9 9.1 9.3 12.3
Global Equity Benchmark 19.5 9.9 8.2 11.5
Morningstar Rating™ 4 3 5 5
Number of Funds in Morningstar Category 1930 1595 1343 624
Number of Holdings 56
Number of Countries 14

Equity Sector Weights

Sector: Communication services
  • Portfolio : 8.1
  • Global Equity Benchmark : 7.3
Sector: Consumer discretionary
  • Portfolio : 11.2
  • Global Equity Benchmark : 11.3
Sector: Consumer staples
  • Portfolio : 13.1
  • Global Equity Benchmark : 7.3
Sector: Energy
  • Portfolio : 0
  • Global Equity Benchmark : 4.6
Sector: Financials
  • Portfolio : 17.8
  • Global Equity Benchmark : 15.4
Sector: Health care
  • Portfolio : 12.8
  • Global Equity Benchmark : 11.8
Sector: Industrials
  • Portfolio : 20.4
  • Global Equity Benchmark : 10.5
Sector: Information technology
  • Portfolio : 14.2
  • Global Equity Benchmark : 22.1
Sector: Materials
  • Portfolio : 0.4
  • Global Equity Benchmark : 4.6
Sector: Real estate
  • Portfolio : 0
  • Global Equity Benchmark : 2.3
Sector: Utilities
  • Portfolio : 0
  • Global Equity Benchmark : 2.8
Sector: Cash & cash equivalents
  • Portfolio : 2
  • Global Equity Benchmark : 0

Regional Weights

Region: Asia Pacific ex. Japan
  • Portfolio : 0
  • Global Equity Benchmark : 11
Region: Canada
  • Portfolio : 7.7
  • Global Equity Benchmark : 2.9
Region: Europe ex. U.K.
  • Portfolio : 30.1
  • Global Equity Benchmark : 12.7
Region: Japan
  • Portfolio : 3.1
  • Global Equity Benchmark : 5.5
Region: Latin America
  • Portfolio : 2.4
  • Global Equity Benchmark : 1
Region: Middle East/Africa
  • Portfolio : 0
  • Global Equity Benchmark : 1.3
Region: United Kingdom
  • Portfolio : 9.3
  • Global Equity Benchmark : 3.6
Region: United States
  • Portfolio : 45.4
  • Global Equity Benchmark : 62.1
Region: Cash & Cash Equivalents
  • Portfolio : 2
  • Global Equity Benchmark : 0
Region: Emerging and Frontier Markets
  • Portfolio : 2.5
  • Global Equity Benchmark : 10.5

Disclaimers

  • * Management expense ration (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily 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.
  • § Emerging and Frontier Markets classification is based on the MSCI Country Classification Standard.
  • See benchmark history.
  • 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 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.

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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