Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Mawer Global Small Cap Fund
As at March 31, 2026
Morningstar Rating™
starstarstar
(As at Mar 31, 2026)
Fund Managers:
John Wilson, CFA
Series Start Date:
Oct 2, 2007
Fund Net Asset Value:
$1,743.40 million
Total Net Asset Value (Series A):
$289.00 million
Related Links
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
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Navigating Uncertainty: Global Small Caps, Process Innovation, and AI at Mawer | EP189
May 21, 2025
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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 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 Holdings | Weight (%) |
|---|---|
| XPS Pensions Group PLC | 4.4 |
| Esquire Financial Holdings Inc | 4.4 |
| Acter Group Corp Ltd | 4.0 |
| GPS Participacoes e Empreendimentos SA | 3.8 |
| Fagron | 3.8 |
| Stella-Jones Inc | 3.7 |
| Bravida Holding AB | 3.2 |
| RS Group PLC | 3.0 |
| Barrett Business Services Inc | 3.0 |
| Virbac SACA | 2.9 |
| OSI Systems Inc | 2.7 |
| Synsam AB | 2.6 |
| Parex Resources Inc | 2.6 |
| De' Longhi SpA | 2.6 |
| King Slide Works Co Ltd | 2.5 |
| Softcat PLC | 2.5 |
| Bilia AB | 2.3 |
| Alten SA | 2.2 |
| Avanza Bank Holding AB | 2.2 |
| Valvoline Inc | 2.1 |
| Volution Group PLC | 2.1 |
| Medpace Holdings Inc | 2.0 |
| Atea ASA | 1.7 |
| Hammond Power Solutions Inc | 1.7 |
| PRIO SA/Brazil | 1.6 |
Equity Sector Weights
Portfolio
Global Small Cap Benchmark[‖]
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
Regional Weights
Portfolio
Global Small Cap Benchmark[‖]
Asia Pacific Ex. Japan
Canada
Emerging and Frontier Markets
Europe Ex. U.K.
Japan
Latin America
Middle East/Africa
United Kingdom
United States
Cash & Cash Equivalents
Emerging and Frontier Markets
Related Links
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Navigating Uncertainty: Global Small Caps, Process Innovation, and AI at Mawer | EP189
May 21, 2025
23 Mins
Disclaimers