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Mawer Emerging Markets Equity Fund
As at September 30, 2025
Morningstar Rating™
(As at Sep 30, 2025)
Fund Managers:
Peter Lampert, CFA
Wen Quan Cheong, CFA
Series Start Date:
Jan 31, 2017
Fund Net Asset Value:
$611.50 million
Total Net Asset Value (Series A):
$54.10 million
Net Asset Value Per Unit:
$17.79
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.60% (as at 30 Jun 2025)
Trading Expense Ratio†:
0.11% (as at 30 Jun 2025)
Fund Code:
MAW160
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Finding Hidden Gems in Emerging Markets | EP 190
June 4, 2025
16 Mins
Performance
Performance
Fund Documents
Fund Documents
Prices
Prices
Fund Commentary
Fund Commentary
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 will also be used.
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 HoldingsWeight (%)
Tencent Holdings Ltd6.2
Taiwan Semiconductor Manufacturing Co Ltd6.0
Acter Group Corp Ltd4.3
Tencent Music Entertainment Group ADR3.4
King Slide Works Co Ltd3.3
Salik Co PJSC3.2
HD Hyundai Marine Solution Co Ltd3.1
NetEase Inc3.0
Cash and Cash Equivalents3.0
China Resources Mixc Lifestyle Services Ltd2.8
HDFC Bank Ltd2.7
Bajaj Finance Ltd2.6
CTP NV2.5
SK Hynix Inc2.5
NU Holdings Ltd/Cayman Islands2.5
ADNOC Drilling Co PJSC2.4
International Games System Co Ltd2.3
King Yuan Electronics Co Ltd2.2
FPT Corp2.2
Delta Electronics Inc2.1
Asseco Poland SA2.1
GPS Participacoes e Empreendimentos SA2.0
BOC Aviation Ltd2.0
Aegis Logistics Ltd2.0
Rasan Information Technology Co1.9
Net Performance‡
As at September 30, 2025
1 Yr3 Yr5 Yr10 Yr
Mawer Emerging Markets Equity Fund26.824.97.5-
MSCI Emerging Markets Index (net)20.818.77.9-
Morningstar Rating™
3
5
3
0
Number of Funds in Morningstar Category
277
254
215
0
Number of Holdings§51
Number of Countries§14
Equity Sector Weights
Portfolio
MSCI Emerging Markets Index (net)
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
16.8
10.5
6.5
13.6
3.9
4.0
7.5
3.9
12.0
22.2
0.0
3.4
22.6
6.6
22.0
25.5
0.5
6.5
5.3
1.4
0.0
2.3
3.0
0.0
Regional Weights
Portfolio
MSCI Emerging Markets Index (net)
Asia (Ex. China, India, Taiwan, South Korea)
China/Hong Kong
Emea (Europe, Middle East, Africa)
Emerging and Frontier Markets
India
Latin America
North America
South Korea
Taiwan
Cash & Cash Equivalents
3.7
3.7
26.4
31.2
22.2
12.3
92.6
100.0
10.1
15.2
6.1
7.2
0.0
0.0
8.3
11.0
20.2
19.4
3.0
0.0
Emerging and Frontier Markets
92.6
100.0
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Finding Hidden Gems in Emerging Markets | EP 190
June 4, 2025
16 Mins
Disclaimers
* 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 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 1.60%.
† 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 Emerging Markets Equity Fund Series A inception: January 31, 2017.