Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Mawer Global Small Cap Fund
As at September 30, 2025
Morningstar Rating™
starstar
(As at Sep 30, 2025)
Series Start Date:
Oct 2, 2007
Fund Net Asset Value:
$2,302.20 million
Total Net Asset Value (Series A):
$381.40 million
Related Links
Navigating Global Small Caps in an AI-Transformative World | EP 157
June 12, 2024
17 Mins
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What Does this Fund Invest In?
The Fund invests in global corporations that at the time of purchase have a market capitalization less than or equal to the unadjusted market capitalization of the largest company in the bottom 98% of the MSCI ACWI Small Cap Index as of the previous quarter end. The amount invested in any one country will vary depending upon individual company by company opportunities in each area. 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 will also be used.
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 (%) |
|---|---|
| GPS Participacoes e Empreendimentos SA | 6.0 |
| XPS Pensions Group PLC | 4.8 |
| De' Longhi SpA | 4.7 |
| Acter Group Corp Ltd | 4.5 |
| Fagron | 4.2 |
| Softcat PLC | 3.8 |
| Alten SA | 3.7 |
| Barrett Business Services Inc | 3.6 |
| Esquire Financial Holdings Inc | 3.4 |
| OSI Systems Inc | 3.4 |
| Valvoline Inc | 3.3 |
| Cash and Cash Equivalents | 3.1 |
| RS Group PLC | 3.0 |
| Atea ASA | 2.9 |
| Stella-Jones Inc | 2.8 |
| Bravida Holding AB | 2.7 |
| Parex Resources Inc | 2.7 |
| King Slide Works Co Ltd | 2.6 |
| Insperity Inc | 2.5 |
| Avanza Bank Holding AB | 2.5 |
| Bilia AB | 2.5 |
| Dermapharm Holding SE | 2.2 |
| Ipsos | 2.0 |
| Donnelley Financial Solutions Inc | 2.0 |
| Synsam AB | 1.9 |
Equity Sector Weights
Portfolio
Global Small Cap Benchmark[‖]
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
Regional Weights
Portfolio
Global Small Cap Benchmark[‖]
Asia Pacific Ex. Japan
Canada
Emerging and Frontier Markets
Europe Ex. U.K.
Japan
Latin America
Middle East/Africa
United Kingdom
United States
Cash & Cash Equivalents
Emerging and Frontier Markets
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Navigating Global Small Caps in an AI-Transformative World | EP 157
June 12, 2024
17 Mins
Disclaimers