- Mawer Investment Management is a privately owned, independent investment firm, managing over $67B in assets for individual and institutional investors across all major asset classes.
- Many higher growth companies reported strong results amid the pick-up in broad economic activity including Shopify, Taiwan e-commerce company momo.com, and Alphabet. These higher growth companies tend to have increased sensitivity to a change in discount rates and were supported as long-term interest rates stabilized over the period.
- Energy companies such as Canadian Natural Resources and Suncor Energy performed well driven by higher oil prices and the prospect of increased demand as the reopening of economies continued.
- Our Japanese drug store holdings Sundrug, Tsuruha, and Kusuri No Aoki continued to languish as the bump in pandemic-related sales waned while the recovery in customer traffic, particularly in urban locations, is taking time.
For further details see:
Mawer Investment Management 2Q 2021 Summary