Today we held a live discussion with Paul Moroz, who has just been named Morningstar's fund manager of the year in the foreign equity category.
Paul is deputy chief investment officer of Mawer Investment Management, where he has been since 2004. Paul is the asset class manager of the Mawer Global Small Cap Fund and the co-manager of the Mawer Global Equity Fund and is a Chartered Financial Analyst.
Paul follows Mawer's investment approach to equities: creating broadly diversified portfolios of wealth-creating companies with excellent management teams - and buying their shares at a discount to their intrinsic value.
His Global Small Cap Fund looks for stocks with a maximum $3-billion (U.S.) capitalization and that are often under-followed and out-of-favour. Its top holdings include: NCC Group, Cineworld Group PLC, Amsterdam Commodities, and Canada's own Constellation Software. The Global Equity Fund invests in common shares of companies across all capitalization ranges. Top holdings include: Blackrock Inc., Wells Fargo & Co, General Electric Co. and Roche Holdings AG.
Paul discussed his thoughts on the current market, his favourite global and small cap stock picks, and took your questions on finding solid candidates for your own portfolio.
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Darcy Keith