Mawer U.S. Equity Fund

As at September 30, 2018

Morningstar RatingTM: (as at Sep 30, 2018)
Fund Inception Date: December 10, 1992
Fund Net Asset Value: $3,297.8 million
Total Net Asset Value (Series A): $419.9 million
Net Asset Value Per Unit: $51.70
RRSP Eligibility: Yes
Management Expense Ratio: 1.16% (as at Dec 31, 2017)
Trading Expense Ratio1: 0.01% (as at Dec 31, 2017)
Fund Code: MAW108

What does this Fund Invest In?

The Fund invests in equity and equity-related securities of U.S. entities. Treasury bills or short-term investments, not exceeding three years to maturity, may still be used from time to time.

Investor Suitability

Investors seeking long-term, above average growth who can tolerate equity volatility. Medium to 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
Mawer U.S. Equity Fund 22.0 14.5 17.5 12.2
S&P 500 Index 21.9 15.9 19.3 14.2
Morningstar Rating 4 4 4 4
Number of Funds in Morningstar Category U.S. Equity 1,371 939 649 266

Number of Holdings2: 62

Top 25 Holdings% Weight
Becton, Dickinson and Company 4.7
Verisk Analytics Inc 4.3
Alphabet Inc. Class C 4.2
Marsh & McLennan Companies, Inc. 4.1
Cash & Cash Equivalents 4.0
Visa Inc. Class A 3.9
Comcast Corporation Class A 3.3
ANSYS, Inc. 3.2
CME Group Inc. Class A 3.0
Mastercard Incorporated Class A 3.0
Willis Towers Watson Public Limited Company 2.7
JPMorgan Chase & Co. 2.7
Waters Corporation 2.6
AMETEK, Inc. 2.5
S&P Global, Inc. 2.5
Wells Fargo & Company 2.5
NIKE, Inc. Class B 2.3
Intuit Inc. 2.3
Procter & Gamble Company 2.3
KAR Auction Services, Inc. 2.2
Oracle Corporation 2.0
Paychex, Inc. 1.7
Gilead Sciences, Inc. 1.6
Johnson & Johnson 1.6
Booking Holdings Inc. 1.6

1 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.

2 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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