Mawer Global Small Cap Fund
As at September 30, 2019
What does this Fund Invest In?
The Fund invests primarily in equity and equity-related securities of smaller companies around the world that have a free‐float market capitalization of $3 billion USD or less at the time of initial purchase (with a maximum $7 Billion USD market capitalization at the time of initial purchase). 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, may also be used from time to time.
Investors seeking long-term, above average growth who can tolerate equity volatility. High Risk.
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.
|Mawer Global Small Cap Fund||4.3||9.1||12.3||15.8|
|Global Small Cap Benchmark||-3.2||7.3||9.8||10.6|
|Number of Funds in Morningstar Category Global Small/Mid Cap Equity||316||267||128||61|
|Number of Holdings3:||69|
|Number of Countries3:||24|
|Top 25 Holdings||% Weight|
|Cash & Cash Equivalents||7.8|
|Cembra Money Bank AG||3.5|
|Bravida Holding AB||3.2|
|TSURUHA Holdings, Inc.||3.2|
|Addtech AB Class B||2.3|
|CTS Eventim AG & Co. KGa||2.1|
|VZ Holding AG||1.9|
|dormakaba Holding AG||1.8|
|Alamo Group Inc.||1.6|
|Loomis AB Class B||1.6|
|Compania Cervecerias Unidas S.A. Sponsored ADR||1.6|
|XP Power Ltd.||1.5|
|Hansen Technologies Limited||1.5|
|KWS SAAT SE & Co KGaA||1.5|
1 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 Manager, at its discretion, absorbed certain expenses otherwise payable by each Series. The Manager may change the amount absorbed or discontinue absorbing these expenses at any time without notice. The MER for the period ended June 30, is a six-month annualized MER and is subject to change due to changes in the average net assets of the Fund and may differ from the final MER for the year ended December 31.
2 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.
3 Equity holdings excluding cash.
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. Since Inception performance has been calculated from the month-end after the initial funding of the mutual fund in order to provide a comparison against a monthly benchmark.
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 disseminated 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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