Paul Moroz returns to share an update on our global equity strategy. We dig into what's changed since Paul resumed the lead portfolio manager role, how the team's collaboration has evolved, and why a more diversified and resilient portfolio is the result. Listen for Paul's take on why optionality and humility matter more than ever. 

Key highlights: 

• Enhanced team collaboration through structural changes leading to better cross-team idea generation 

• Improved portfolio diversification with holdings expanding to over 70 securities: reduction of consumer staples and discretionary overweights, while adding strategic small positions that provide optionality for rapid capital allocation as markets shift 

• Fundamental momentum alignment improved by reducing problem positions and increasing strong earnings momentum names, resulting in better down capture characteristics during market declines 

• Strategic AI complex exposure built through diversified Asian infrastructure plays in memory, power, data centers, and chip fabrication, targeting high market share businesses with better risk-adjusted returns 

• Comprehensive IT sector review underway to identify opportunities in potentially mispriced software companies 

• Portfolio repositioning complete with approximately 19% turnover executed to create a more balanced, diversified portfolio aligned with the platform's investment philosophy: designed for resilience across market regimes 

Host: Rob Campbell, CFA – Institutional Portfolio Manager

Guest: Paul Moroz, CFA – Portfolio Manager

This episode is available for download anywhere you get your podcasts. Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. 

Visit Mawer at https://www.mawer.com.

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