Mawer Emerging Markets Equity Fund

As at September 30, 2018

Morningstar RatingTM: N/A1 (as at Sep 30, 2018)
Fund Managers:
Peter Lampert, CFA
Fund Inception Date: January 31, 2017
Fund Net Asset Value: $59.0 million
Total Net Asset Value (Series A): $31.6 million
Net Asset Value Per Unit: $11.12
RRSP Eligibility: Yes
Management Expense Ratio: 1.60%2 (as at Dec 31, 2017)
Trading Expense Ratio: 0.31% (as at Dec 31, 2017)
Fund Code: MAW160

What does this Fund Invest In?

The Fund invests primarily in equity and equity related securities of companies located or active in emerging market countries. 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 significant volatility. 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 Emerging Markets Equity Fund 3.3 - - - 6.9
MSCI Emerging Markets Index 9.6 - - - 11.1

Number of Holdings3: 49
Number of Countries3: 15

Top 25 Holdings% Weight
Cash & Cash Equivalents 6.2
AIA Group Limited 3.7
HDFC Bank Limited 3.6
LG Household & Health Care Ltd Pfd Registered Shs Non-Voting 3.4
NICE Information Service Co., Ltd. 3.1
Midea Group Co. Ltd. Class A 3.0
Heineken Malaysia Bhd. 2.9
Samsung Electronics Co Ltd Pfd  Non-Voting 2.9
Tencent Holdings Ltd. 2.8
Compania Cervecerias Unidas S.A. Sponsored ADR 2.8
ADDCN Technology Co., Ltd. 2.7
Hengan International Group Co., Ltd. 2.7
Infosys Limited Sponsored ADR 2.7
Alibaba Group Holding Ltd. Sponsored ADR 2.6
Bolsa Mexicana de Valores SAB de CV Class A 2.6
Taiwan Semiconductor Manufacturing Co., Ltd. 2.5
AVI Limited Class Y 2.5
Golden Friends Co. Ltd. 2.4, Inc. Sponsored ADR Class A 2.4
Spar Group Limited 2.3
Hero Motocorp Limited 2.3
Tehmag Foods Corp. 2.2
UPL Limited 2.1
Aramex (P.J.S.C) 2.1
Itau Unibanco Holding S.A. 2.1

1 Funds with less than three years of performance history are not rated.

2 The Fund’s MER is made up of the management fee and operating expenses. The Fund’s annual management fee is 1.30% of the Fund’s value. Because this fund is new, its operating expenses are relatively large in comparison to the fund’s assets. Mawer Investment Management Ltd. has committed to subsidize the operating expenses of the Fund from its inception so that the MER is no more than 1.60%; without the subsidy the MER would have been 1.80%. Mawer Investment Management Ltd. reserves the right to terminate the subsidy at any time. Management plans to review the subsidy periodically with the intent to remove the subsidy once the MER of the Fund has stabilized. After the subsidized period ends, the actual MER for the Fund may be higher than 1.60%.

3 Equity holdings excluding cash.

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.

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