Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Mawer International Equity Fund
As at June 30, 2026
Morningstar Rating™
starstarstar
(As at June 30, 2026)
Series Start Date:
Nov 6, 1987
Fund Net Asset Value:
$7,251.50 million
Total Net Asset Value (Series F):
$843.30 million
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What Does this Fund Invest In?
The Fund invests primarily in equity and equity-related securities of entities outside of Canada and the United States. 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 equity volatility. Medium 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 (%) |
|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 6.1 |
| Cash and Cash Equivalents | 4.9 |
| Kioxia Holdings Corp | 4.0 |
| Tencent Holdings Ltd | 3.2 |
| SK hynix Inc | 3.0 |
| Samsung Electronics Co Ltd | 2.8 |
| Shell PLC ADR | 2.4 |
| BAE Systems PLC | 2.0 |
| Roche Holding AG | 2.0 |
| BHP Group Ltd | 2.0 |
| Tower Semiconductor Ltd | 2.0 |
| Aon PLC | 1.9 |
| AstraZeneca PLC | 1.9 |
| Contemporary Amperex Technology Co Ltd | 1.8 |
| Koninklijke Ahold Delhaize NV | 1.8 |
| Leonardo SpA | 1.8 |
| Compass Group PLC | 1.8 |
| Recordati Industria Chimica e Farmaceutica SpA | 1.8 |
| Bunzl PLC | 1.7 |
| FinecoBank Banca Fineco SpA | 1.7 |
| Delta Electronics Inc | 1.7 |
| PRIO SA/Brazil | 1.6 |
| London Stock Exchange Group PLC | 1.6 |
| Sampo Oyj | 1.6 |
| Diploma PLC | 1.6 |
Equity Sector Weights
Portfolio
International Equity 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
International Equity 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
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
International Equity: Finding Quality Opportunities in Today’s Market | EP 215
April 30, 2026
16 Mins
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Data Moats in the Age of AI | EP 207
January 28, 2026
28 Mins
Disclaimers