Art Of Boring

In this episode, we discuss Mawer’s EAFE large cap portfolio with Ian Turnbull, an equity analyst at Mawer. Ian explores the portfolio's diversification benefits, offering exposure to resilient, high-quality companies in 21 markets such as the Nordics, Switzerland, and Singapore. The team targets proven companies with strong moats and global leadership. Key holdings include Wolters Kluwer, BAE, and Chugai. AI's potential in healthcare R&D is highlighted, though regulatory hurdles persist. The team emphasizes balancing risks, leveraging themes like pharma innovation, defense, electrification, and AI, and addressing geopolitical uncertainties for a resilient, long-term portfolio.   Key Takeaways: • The EAFE Large Cap portfolio provides diversification, mitigating risks like U.S. concentration and valuation fragility. It offers compelling opportunities in smaller, well-performing countries like the Nordics, Switzerland, and Singapore. The team’s bottom-up approach targets high-quality companies, emphasizing