The Fund invests primarily in equity and equity-related securities of entities outside of Canada and the United States. 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.
Mawer International Equity Fund
As at June 30, 2023- Morningstar Rating™
- (as at Jun 30, 2023)
- Fund Managers:
-
David Ragan, CFA
Peter Lampert, CFA
- Series Start Date:
- Nov 6, 1987
- Fund Net Asset Value:
- $7,270.6 million
- Total Net Asset Value (Series A):
- $782.6 million
What Does this Fund Invest In?
The Fund invests primarily in equity and equity-related securities of entities outside of Canada and the United States. 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.
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 (%) |
|---|---|
| Aon Plc Class A | 5.1 |
| Cash & Cash Equivalents | 4.3 |
| Wolters Kluwer N.V. | 4.0 |
| RELX PLC | 3.8 |
| Bunzl plc | 3.5 |
| Taiwan Semiconductor Manufacturing Co., Ltd. | 3.4 |
| Compass Group PLC | 3.3 |
| LVMH Moet Hennessy Louis Vuitton SE | 2.9 |
| Novo Nordisk A/S Class B | 2.8 |
| Koninklijke Ahold Delhaize N.V. | 2.5 |
| Thales SA | 2.3 |
| HDFC Bank Limited | 2.3 |
| Deutsche Boerse AG | 2.3 |
| KDDI Corporation | 2.3 |
| Roche Holding Ltd Dividend Right Cert. | 2.3 |
| BAE Systems plc | 2.2 |
| Ashtead Group plc | 2.1 |
| AstraZeneca PLC | 1.9 |
| Shell Plc Sponsored ADR | 1.9 |
| L'Air Liquide S.A. | 1.8 |
| Recordati Industria Chimica e Farmaceutica S.p.A. | 1.8 |
| Sampo Oyj Class A | 1.8 |
| Samsung Electronics Co., Ltd. | 1.8 |
| Ferguson Plc | 1.6 |
| Rheinmetall AG | 1.6 |
Equity Sector Weights
Regional Weights
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.
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.
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