Calgary-based Mawer Investment Management Ltd. launched a new mutual fund on Friday that’s focused on large companies based in developed countries outside North America.

The Mawer EAFE Large Cap Fund — which primarily invests in companies located in Europe, Australasia and the Far East — will offer diversification without the volatility that usually comes with emerging markets or smaller companies, the firm said in a release.

It aims to provide investors with long-term, risk-adjusted returns throughout the economic cycle, the release said, and it will be managed by director and portfolio manager David Ragan.