Mawer Emerging Markets Equity Fund

As at December 31, 2018

Morningstar RatingTM: N/A1 (as at Dec 31, 2018)
Fund Managers:
Peter Lampert, CFA
Fund Inception Date: January 31, 2017
Fund Net Asset Value: $60.6 million
Total Net Asset Value (Series A): $32.6 million
Net Asset Value Per Unit: $10.96
RRSP Eligibility: Yes
Management Expense Ratio: 1.60%2 (as at Dec 31, 2018)
Trading Expense Ratio: 0.18% (as at Dec 31, 2018)
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 -6.2 - - - 5.6
MSCI Emerging Markets Index -6.9 - - - 8.3

Number of Holdings3: 39
Number of Countries3: 14

Top 25 Holdings% Weight
Cash & Cash Equivalents 4.6
HDFC Bank Limited 4.1
AIA Group Limited 4.0
NICE Information Service Co., Ltd. 3.5
LG Household & Health Care Ltd Pfd Registered Shs Non-Voting 3.5
Itau Unibanco Holding S.A. 3.5
Compania Cervecerias Unidas S.A. Sponsored ADR 3.5
Heineken Malaysia Bhd. 3.3
Infosys Limited Sponsored ADR 3.2
S-1 Corp. 3.1
Tencent Holdings Ltd. 3.0
Bolsa Mexicana de Valores SAB de CV Class A 3.0
ADDCN Technology Co., Ltd. 2.9
Empresas Lipigas SA 2.8
Samsung Electronics Co Ltd Pfd Non-Voting 2.7
Golden Friends Co. Ltd. 2.7
Aramex (P.J.S.C) 2.6
Tehmag Foods Corp. 2.6
Alibaba Group Holding Ltd. Sponsored ADR 2.5
Taiwan Semiconductor Manufacturing Co., Ltd. 2.4
Sporton International Inc. 2.4
Spar Group Limited 2.4
Hengan International Group Co., Ltd. 2.3
TravelSky Technology Ltd. Class H 2.1
Hero Motocorp Limited 2.0

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 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.