The Fund invests in global corporations that at the time of purchase have a market capitalization less than or equal to the unadjusted market capitalization of the largest company in the bottom 98% of the MSCI ACWI Small Cap Index as of the previous quarter end. 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 Global Small Cap Fund
As at December 31, 2023- Morningstar Rating™
- (as at Dec 31, 2023)
- Fund Managers:
-
John Wilson, CFA
Christian Deckart, CFA, PhD
Karan Phadke, CFA
- Series Start Date:
- Oct 2, 2007
- Fund Net Asset Value:
- $3,280.5 million
- Total Net Asset Value (Series A):
- $705.3 million
What Does this Fund Invest In?
The Fund invests in global corporations that at the time of purchase have a market capitalization less than or equal to the unadjusted market capitalization of the largest company in the bottom 98% of the MSCI ACWI Small Cap Index as of the previous quarter end. 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 significant volatility. Medium-high 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 (%) |
|---|---|
| Cash & Cash Equivalents | 6.8 |
| De'Longhi S.p.A. | 5.8 |
| Ipsos SA | 5.8 |
| TriNet Group Inc | 4.5 |
| Winmark Corp | 4.2 |
| Dermapharm Holding SE | 4.0 |
| Hikma Pharmaceuticals Plc | 3.7 |
| Orkla ASA | 3.4 |
| RS Group PLC | 3.2 |
| Atea ASA | 3.0 |
| PC Connection Inc | 3.0 |
| Donnelley Financial Solutions, Inc. | 3.0 |
| Softwareone Holding AG | 2.9 |
| Global Industrial Company | 2.7 |
| CBIZ Inc | 2.4 |
| Softcat PLC | 2.3 |
| Fagron | 2.2 |
| Technogym S.p.A | 2.2 |
| Insperity Inc | 1.9 |
| Bravida Holding AB | 1.9 |
| Bilia AB | 1.9 |
| Tsuruha Holdings Inc | 1.8 |
| GPS Participacoes e Empreendimentos SA | 1.8 |
| dormakaba Holding AG | 1.8 |
| VZ Holding 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 third parties—we believe the data to be accurate, however, cannot guarantee its accuracy.
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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