The Fund invests primarily in equity and equity-related securities of U.S. mid-capitalization entities. Treasury bills or short-term investments, not exceeding three years to maturity, may also be used from time to time.
Mawer U.S. Mid Cap Equity Fund
As at December 31, 2023- Morningstar Rating™ *
- N/A (as at Dec 31, 2023)
- Fund Managers:
-
Jeff Mo, CFA
- Series Start Date:
- Sep 27, 2021
- Fund Net Asset Value:
- $58.6 million
- Total Net Asset Value (Series A):
- $12.1 million
What Does this Fund Invest In?
The Fund invests primarily in equity and equity-related securities of U.S. mid-capitalization entities. 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 to 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 (%) |
|---|---|
| FleetCor Technologies Inc | 5.0 |
| Charles River Laboratories International, Inc. | 3.9 |
| Cash & Cash Equivalents | 3.8 |
| Valvoline, Inc. | 3.6 |
| Humana Inc | 3.5 |
| Amphenol Corp | 3.4 |
| CDW Corp/DE | 3.4 |
| Concentrix Corp | 3.3 |
| SharkNinja Inc | 3.1 |
| Euronet Worldwide Inc | 3.0 |
| Donnelley Financial Solutions Inc | 3.0 |
| Dollar General Corp | 2.9 |
| Ulta Beauty Inc | 2.8 |
| FTI Consulting Inc | 2.6 |
| SS&C Technologies Holdings Inc | 2.6 |
| Waters Corp | 2.6 |
| First Citizens BancShares, Inc. Class A | 2.6 |
| Global Industrial Co | 2.5 |
| Insperity Inc | 2.5 |
| CBRE Group, Inc. Class A | 2.5 |
| KLA Corp | 2.4 |
| RB Global Inc | 2.4 |
| ResMed Inc | 2.4 |
| Bio-Rad Laboratories Inc | 2.3 |
| Tradeweb Markets Inc | 2.3 |
Equity Sector Weights
Disclaimers
- * Funds with less than three years of performance history are not rated.
- † 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 1.45%; without the subsidy the MER may be higher. 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 1.45%.
- ‡ 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.
- ‖ 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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