A daily recap of mutual fund performance is available here.

 

Annualized Annual
Currency Type ($):
CAD USD

Series A (Annualized)

Total Net Returns (CAD$) as at March 31, 2018

Mawer Equity Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
International Equity Fund 2.1 2.1 16.0 11.9 8.5 10.9 12.9 7.7 8.4
International Equity Benchmark 1.7 1.7 12.6 13.9 6.7 8.4 12.0 5.3 5.5
U.S. Equity Fund 4.7 4.7 12.8 14.0 10.0 14.6 17.7 11.2 8.0
S&P 500 Index 2.1 2.1 10.2 15.4 11.4 15.7 18.8 12.0 9.6
Global Equity Fund 2.6 2.6 13.9 12.2 9.5 12.1 15.6 - 13.5
Global Equity Benchmark 1.9 1.9 11.0 14.5 9.0 12.0 15.3 - 12.4
Global Small Cap Fund 1.7 1.7 16.9 14.1 11.8 13.2 19.5 14.6 13.4
Global Small Cap Benchmark 2.4 2.4 12.3 17.4 10.1 11.7 14.8 9.3 7.8
Emerging Markets Equity Fund 3.3 3.3 16.6 - - - - - -
MSCI Emerging Markets Index 4.4 4.4 20.8 - - - - - -
Canadian Equity Fund -3.9 -3.9 2.4 8.0 5.1 7.3 10.4 8.3 9.5
S&P/TSX Composite Index -4.5 -4.5 1.7 9.8 4.1 4.8 6.9 4.5 8.3
New Canada Fund (CLOSED)1 -3.3 -3.3 -2.1 8.4 6.2 6.1 13.6 12.0 14.0
New Canada Fund Benchmark -7.7 -7.7 -6.6 9.2 3.5 0.4 3.3 3.6 8.0
Mawer Balanced Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
Global Balanced Fund 2.1 2.1 8.9 7.5 6.0 8.4 - - 10.2
Internal Global Balanced Benchmark 2.3 2.3 7.9 9.3 6.0 8.6 - - 10.2
Balanced Fund 0.9 0.9 7.2 7.5 5.6 8.0 10.1 7.9 8.5
Internal Balanced Benchmark -0.2 -0.2 4.8 8.4 5.0 6.6 8.1 6.2 8.0
Tax Effective Balanced Fund 0.9 0.9 7.0 7.5 5.5 7.9 10.0 7.9 8.1
Internal Tax Effective Balanced Benchmark -0.2 -0.2 4.8 8.4 5.0 6.6 8.1 6.1 8.0
Mawer Income Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
Global Bond Fund 4.5 4.5 2.0 0.2 - - - - 2.4
FTSE World Government Bond Index 5.5 5.5 4.9 2.1 - - - - 5.6
Canadian Bond Fund 0.0 0.0 0.2 0.4 0.4 2.6 2.0 3.6 5.9
FTSE TMX Canada Universe Bond Index 0.1 0.1 1.4 1.4 1.2 3.4 2.9 4.4 7.0
Canadian Money Market Fund 0.1 0.1 0.2 0.1 0.1 0.1 0.2 0.3 3.3
FTSE TMX 91 Day T-Bill Index 0.3 0.3 0.8 0.6 0.6 0.7 0.7 0.9 4.1

Series A (Annual)

Total Net Returns (CAD$) for Periods Ending December 31

Mawer Equity Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
International Equity Fund -32.2 24.9 8.4 -7.5 19.5 22.6 9.2 20.3 -3.3 22.6
International Equity Benchmark -29.2 11.9 2.1 -10.0 14.7 31.0 3.7 19.0 -3.0 18.8
U.S. Equity Fund -14.3 2.4 5.8 4.4 12.0 41.8 20.9 19.3 5.5 12.8
S&P 500 Index -21.2 7.4 9.1 4.6 13.4 41.3 23.9 21.6 8.1 13.8
Global Equity Fund - - 6.4 3.2 16.8 34.3 14.5 21.5 -0.4 17.5
Global Equity Benchmark -25.8 10.4 5.9 -3.2 13.3 35.2 14.4 19.0 3.1 15.8
Global Small Cap Fund -29.9 39.7 16.3 0.3 29.5 47.0 12.1 29.1 -0.7 20.8
Global Small Cap Benchmark -32.2 25.9 19.2 -11.6 15.6 33.7 9.1 18.3 8.3 15.7
Emerging Markets Equity Fund - - - - - - - - - -
MSCI Emerging Markets Index - - - - - - - - - -
Canadian Equity Fund -29.7 29.5 13.8 1.9 12.7 25.5 15.8 -0.3 15.8 8.7
S&P/TSX Composite Index -33.0 35.1 17.6 -8.7 7.2 13.0 10.6 -8.3 21.1 9.1
New Canada Fund (CLOSED)1 -38.3 51.2 23.9 1.1 16.4 49.4 12.1 1.9 19.3 3.9
New Canada Fund Benchmark -46.6 75.1 38.5 -14.4 2.5 7.8 -0.1 -13.8 35.5 2.8

Mawer Balanced Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Global Balanced Fund - - - - - - 11.8 14.6 -0.6 11.0
Internal Global Balanced Benchmark -14.1 8.4 6.1 1.5 9.3 19.5 11.7 12.9 2.0 9.9
Balanced Fund -16.1 16.4 9.8 2.9 11.4 20.2 12.1 10.5 3.2 10.0
Internal Balanced Benchmark -14.1 13.9 9.1 1.1 8.1 14.6 9.5 6.2 7.4 8.4
Tax Effective Balanced Fund -17.0 17.6 10.2 2.1 11.6 20.1 12.2 10.2 3.3 9.9
Internal Tax Effective Balanced Benchmark -14.2 13.8 9.0 0.7 8.1 14.6 9.5 6.2 7.4 8.4

Mawer Income Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Global Bond Fund - - - - - - - - -4.8 -1.1
FTSE World Government Bond Index 38.7 -12.9 -0.3 9.0 -0.6 2.4 8.5 15.6 -1.9 0.4
Canadian Bond Fund 5.9 4.1 6.2 8.9 3.5 -2.2 7.8 3.1 0.9 1.3
FTSE TMX Canada Universe Bond Index 6.4 5.4 6.7 9.7 3.6 1.2 8.8 3.5 1.7 2.5
Canadian Money Market Fund 2.0 0.1 0.1 0.3 0.3 0.4 0.4 0.0 0.0 0.1
FTSE TMX 91 Day T-Bill Index 3.3 0.6 0.5 1.0 1.0 1.0 0.9 0.6 0.5 0.6

Series O (Annualized)

Total Gross Returns (CAD$) as at March 31, 2018

Mawer Equity Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
International Equity Fund 2.4 2.4 17.6 13.4 10.1 12.5 14.5 9.2 10.6
International Equity Benchmark 1.7 1.7 12.6 13.9 6.7 8.4 12.0 5.3 6.6
U.S. Equity Fund 5.0 5.0 14.1 15.4 11.3 15.9 19.0 12.4 9.4
S&P 500 Index 2.1 2.1 10.2 15.4 11.4 15.7 18.8 12.0 8.9
Global Equity Fund 2.9 2.9 15.4 13.7 10.9 13.6 17.1 - 15.4
Global Equity Benchmark 1.9 1.9 11.0 14.5 9.0 12.0 15.3 - 12.4
Global Small Cap Fund 2.2 2.2 18.8 16.1 13.7 15.1 21.5 16.6 15.4
Global Small Cap Benchmark 2.4 2.4 12.3 17.4 10.1 11.7 14.8 9.3 7.8
Emerging Markets Equity Fund 3.8 3.8 18.3 - - - - - -
MSCI Emerging Markets Index 4.4 4.4 20.8 - - - - - -
Canadian Equity Fund -3.6 -3.6 3.6 9.3 6.3 8.5 11.7 9.5 10.4
S&P/TSX Composite Index -4.5 -4.5 1.7 9.8 4.1 4.8 6.9 4.5 6.8
New Canada Fund (CLOSED)1 -2.9 -2.9 -0.7 9.9 7.6 7.5 15.1 13.5 14.8
New Canada Fund Benchmark -7.7 -7.7 -6.6 9.2 3.5 0.4 3.3 3.6 6.1
Mawer Balanced Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
Global Balanced Fund 2.3 2.3 10.1 8.6 7.1 9.6 - - 11.4
Internal Global Balanced Benchmark 2.3 2.3 7.9 9.3 6.0 8.6 - - 10.2
Balanced Fund 1.1 1.1 8.1 8.5 6.6 9.0 11.1 8.9 8.7
Internal Balanced Benchmark -0.2 -0.2 4.8 8.4 5.0 6.6 8.1 6.2 6.1
Mawer Income Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
Global Bond Fund 4.6 4.6 2.6 0.9 - - - - 3.1
FTSE World Government Bond Index 5.5 5.5 4.9 2.1 - - - - 5.6
Canadian Bond Fund 0.2 0.2 0.8 1.0 1.1 3.3 2.7 4.4 4.6
FTSE TMX Canada Universe Bond Index 0.1 0.1 1.4 1.4 1.2 3.4 2.9 4.4 4.6
Canadian Money Market Fund 0.2 0.2 0.7 0.5 0.5 0.6 0.7 0.7 1.2
FTSE TMX 91 Day T-Bill Index 0.3 0.3 0.8 0.6 0.6 0.7 0.7 0.9 1.4

Annualized Performance (Pooled Funds)

Mawer Pooled Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
International Equity Pooled Fund 2.3 2.3 17.3 13.1 9.7 12.1 14.2 - 16.2
International Equity Benchmark 1.7 1.7 12.6 13.9 6.7 8.4 12.0 - 14.6
Canadian Equity Pooled Fund -3.6 -3.6 3.7 9.5 6.5 8.7 11.8 9.3 11.2
S&P/TSX Composite Index -4.5 -4.5 1.7 9.8 4.1 4.8 6.9 4.5 7.4
Balanced Pooled Fund 1.0 1.0 8.1 8.5 6.6 9.0 11.2 9.0 8.3
Balanced Pooled Benchmark -0.5 -0.5 4.6 8.4 5.0 6.6 8.1 6.2 5.9
Canadian Bond Pooled Fund 0.2 0.2 0.9 1.0 1.1 3.3 2.8 4.4 5.4
FTSE TMX Canada Universe Bond Index 0.1 0.1 1.4 1.4 1.2 3.4 2.9 4.4 5.3

Series O (Annual)

Total Gross Returns (CAD$) for Periods Ending December 31

Mawer Equity Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
International Equity Fund -31.0 26.4 10.0 -6.1 21.1 24.2 10.6 22.0 -1.9 24.2
International Equity Benchmark -29.2 11.9 2.1 -10.0 14.7 31.0 3.7 19.0 -3.0 18.8
U.S. Equity Fund -13.2 3.6 7.1 5.6 13.3 43.3 22.2 20.7 6.8 14.1
S&P 500 Index -21.2 7.4 9.1 4.6 13.4 41.3 23.9 21.6 8.1 13.8
Global Equity Fund - - 7.8 4.6 18.4 36.0 15.9 23.1 0.9 19.1
Global Equity Benchmark -25.8 10.4 5.9 -3.2 13.3 35.2 14.4 18.9 3.1 15.8
Global Small Cap Fund -28.5 42.2 18.5 2.2 31.6 49.1 14.0 31.3 1.1 22.8
Global Small Cap Benchmark -32.2 25.9 19.2 -11.6 15.6 33.7 9.1 18.3 8.3 15.7
Emerging Markets Equity Fund - - - - - - - - - -
MSCI Emerging Markets Index - - - - - - - - - -
Canadian Equity Fund -28.6 30.9 15.1 3.2 13.9 26.8 17.1 0.9 17.2 10.0
S&P/TSX Composite Index -33.0 35.1 17.6 -8.7 7.2 13.0 10.6 -8.3 21.1 9.1
New Canada Fund (CLOSED)1 -37.1 52.9 25.4 2.6 17.9 51.1 13.7 3.4 20.9 5.3
New Canada Fund Benchmark -46.6 75.1 38.5 -14.2 2.5 7.8 -0.1 -13.8 35.5 2.8

Mawer Balanced Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Global Balanced Fund - - - - - - 13.0 15.8 0.5 12.2
Internal Global Balanced Benchmark -14.1 8.4 6.1 1.5 9.3 19.5 11.7 12.9 2.0 9.9
Balanced Fund -15.4 17.4 10.8 3.9 12.4 21.3 13.1 11.5 4.1 11.0
Internal Balanced Benchmark -14.1 13.9 9.1 1.1 8.1 14.6 9.5 6.2 7.4 8.4

Mawer Income Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Global Bond Fund - - - - - - - - -4.0 -0.5
FTSE World Government Bond Index 38.7 -12.9 -0.3 9.0 -0.6 2.4 8.5 15.6 -1.9 0.4
Canadian Bond Fund 6.8 5.0 7.1 9.9 4.4 -1.4 8.6 3.8 1.6 2.0
FTSE TMX Canada Universe Bond Index 6.4 5.4 6.7 9.7 3.6 -1.2 8.8 3.5 1.7 2.5
Canadian Money Market Fund 2.5 0.3 0.4 0.9 0.8 0.9 0.9 0.5 0.4 0.5
FTSE TMX 91 Day T-Bill Index 3.3 0.6 0.5 1.0 1.0 1.0 0.9 0.6 0.5 0.6

Annual Performance (Pooled Funds)

Mawer Pooled Funds 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
International Equity Pooled Fund - - - - - 24.2 10.0 21.7 -2.1 24.0
International Equity Benchmark -29.2 11.9 2.1 -10.0 14.7 31.0 3.7 19.0 -3.0 18.8
Canadian Equity Pooled Fund -29.0 30.8 14.9 1.9 13.9 26.5 17.5 0.9 17.4 10.3
S&P/TSX Composite Index -33.0 35.1 17.6 -8.7 7.2 13.0 10.6 -8.3 21.1 9.1
Balanced Pooled Fund -14.6 17.1 10.6 3.6 12.2 21.4 13.3 11.5 4.3 11.2
Balanced Pooled Benchmark -14.1 13.9 9.1 1.1 8.1 14.6 9.5 6.1 7.6 8.5
Canadian Bond Pooled Fund 7.3 4.7 7.0 9.8 4.3 -1.4 8.7 3.8 1.6 2.0
FTSE TMX Canada Universe Bond Index 6.4 5.4 6.7 9.7 3.6 -1.2 8.8 3.5 1.7 2.5

Series O (Annualized)

Total Gross Returns (USD$) as at March 31, 2018

Mawer Equity Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
International Equity Fund -0.5 -0.5 21.6 13.6 9.4 8.2 9.2 6.8 11.1
International Equity Benchmark -1.2 -1.2 16.5 14.1 6.1 4.3 6.8 2.9 7.2
U.S. Equity Fund 2.0 2.0 18.0 15.5 10.6 11.5 13.5 9.9 9.3
S&P 500 Index -0.8 -0.8 14.0 15.6 10.8 11.3 13.3 9.5 8.9
Global Equity Fund 0.0 0.0 19.4 13.9 10.3 9.3 11.7 - 13.4
Global Equity Benchmark -1.0 -1.0 14.8 14.7 8.3 7.7 9.9 - 11.0
Global Small Cap Fund -0.7 -0.7 22.9 16.3 13.1 10.7 15.8 14.0 12.6
Global Small Cap Benchmark -0.5 -0.5 16.2 17.6 9.4 7.4 9.5 6.9 5.2
Emerging Markets Equity Fund 0.8 0.8 22.4 - - - - - 28.8
MSCI Emerging Markets Index 1.4 1.4 24.9 - - - - - 37.3
Canadian Equity Fund -6.3 -6.3 7.2 9.4 5.7 4.4 6.5 7.1 10.5
S&P/TSX Composite Index -7.2 -7.2 5.2 10.0 3.5 0.8 2.0 2.1 7.0
New Canada Fund (CLOSED)1 -5.7 -5.7 2.7 10.1 7.0 3.4 9.7 11.0 15.6
New Canada Fund Benchmark -10.3 -10.3 -3.4 9.4 2.9 -3.4 -1.5 1.3 7.0
Mawer Balanced Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
Global Balanced Fund -0.6 -0.6 13.9 8.8 6.5 5.4 - - 7.2
Internal Global Balanced Benchmark -0.6 -0.6 11.6 9.5 5.4 4.4 - - 6.1
Balanced Fund -1.7 -1.7 11.8 8.6 5.9 4.8 5.9 6.4 8.0
Internal Balanced Benchmark -3.0 -3.0 8.4 8.6 4.4 2.5 3.1 3.8 5.5
Mawer Income Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
Global Bond Fund 1.7 1.7 6.1 1.1 - - - - 2.0
FTSE World Government Bond Index 2.5 2.5 8.5 2.2 - - - - 4.2
Canadian Bond Fund -2.6 -2.6 4.1 0.7 -0.1 -3.2 -4.0 -1.5 0.5
FTSE TMX Canada Universe Bond Index -2.5 -2.5 4.2 0.8 0.0 -3.2 -3.9 -1.4 0.7
Canadian Money Market Fund -2.6 -2.6 4.1 0.7 -0.1 -3.2 -4.0 -1.5 0.5
FTSE TMX 91 Day T-Bill Index -2.5 -2.5 4.2 0.8 0.0 -3.2 -3.9 -1.4 0.7

Annualized Performance (Pooled Funds)

Mawer Pooled Funds 3-Mo YTD 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr 10-Yr Since
Inception
International Equity Pooled Fund -0.6 -0.6 21.3 13.3 9.1 7.8 8.9 - 13.1
International Equity Benchmark -1.2 -1.2 16.5 14.1 6.1 4.3 6.8 - 11.9
Canadian Equity Pooled Fund -6.3 -6.3 7.3 9.7 5.8 4.6 6.6 6.9 12.6
S&P/TSX Composite Index -7.2 -7.2 5.2 10.0 3.5 0.8 2.0 2.1 8.8
Balanced Pooled Fund -1.9 -1.9 11.9 8.7 6.0 4.9 6.0 6.5 9.5
Balanced Pooled Benchmark -3.3 -3.3 8.2 8.6 4.3 2.5 3.1 3.8 7.2
Canadian Bond Pooled Fund -2.6 -2.6 4.3 1.2 0.6 -0.6 -2.0 2.0 6.5
FTSE TMX Canada Universe Bond Index -2.7 -2.7 4.8 4.6 0.6 -0.5 -1.9 2.0 6.5

Series O (Annual)

Total Gross Returns (USD$) for Periods Ending December 31

Mawer Equity Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
International Equity Fund -44.9 48.9 16.0 -8.3 23.9 16.4 1.5 1.8 1.6 33.0
International Equity Benchmark -43.4 31.8 7.8 -12.1 17.3 22.8 -4.9 -0.8 0.4 27.2
U.S. Equity Fund -30.6 22.0 13.0 3.1 15.8 34.3 12.1 0.7 10.6 22.1
S&P 500 Index -37.0 26.5 15.1 2.1 16.0 32.4 13.7 1.4 12.0 21.8
Global Equity Fund - - 13.8 2.1 21.0 27.4 6.3 2.6 4.6 27.4
Global Equity Benchmark -40.7 30.0 11.8 -5.5 15.8 26.7 4.9 -0.9 6.8 24.0
Global Small Cap Fund -42.8 67.5 25.0 -0.3 34.6 39.7 4.5 9.5 4.7 31.5
Global Small Cap Benchmark -45.8 48.2 25.7 -13.7 18.3 25.3 0.1 -1.4 12.1 23.8
Emerging Markets Equity Fund - - - - - - - - - -
MSCI Emerging Markets Index - - - - - - - - - -
Canadian Equity Fund -42.9 54.1 21.4 0.7 16.5 18.8 7.4 -15.8 21.4 17.7
S&P/TSX Composite Index -46.4 59.0 24.1 -10.9 9.6 5.9 1.4 -23.6 25.4 16.8
New Canada Fund (CLOSED)1 -49.7 80.1 32.3 0.1 20.5 41.6 4.3 -13.8 25.3 12.7
New Canada Fund Benchmark -57.3 106.2 46.2 -16.2 4.8 1.0 -8.3 -28.1 40.4 10.0

Mawer Balanced Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Global Balanced Fund - - - - - - 3.6 -3.4 4.1 20.1
Internal Global Balanced Benchmark -31.3 27.7 12.0 -1.0 11.8 12.0 2.5 -5.9 5.6 17.6
Balanced Fund -32.4 38.3 16.9 1.3 14.9 13.6 3.8 -7.0 7.8 18.8
Internal Balanced Benchmark -31.3 34.1 15.1 -1.4 10.5 7.4 0.4 -11.5 11.3 16.0

Mawer Income Funds

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Global Bond Fund - - - - - - - - -0.6 6.5
FTSE World Government Bond Index - - - - - - - - 1.6 7.5
Canadian Bond Fund 14.6 23.7 13.0 7.3 6.8 -7.6 -0.4 -13.5 5.3 9.1
FTSE TMX Canada Universe Bond Index -14.9 24.1 12.6 7.0 5.9 -7.4 -0.2 -13.7 5.3 9.7
Canadian Money Market Fund -18.1 18.1 5.9 -1.6 3.1 -5.4 -7.5 -16.2 4.0 7.6
FTSE TMX 91 Day T-Bill Index -17.4 18.5 6.1 -1.4 3.3 -5.3 -7.4 -16.1 4.1 7.6

Annual Performance (Pooled Funds)

Mawer Pooled Funds 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
International Equity Pooled Fund - - - - - 16.4 0.9 1.5 1.5 32.8
International Equity Benchmark -43.4 31.8 7.8 -12.1 17.3 22.8 -4.9 -0.8 0.4 27.2
Canadian Equity Pooled Fund -43.2 54.0 21.2 -0.6 16.5 18.5 7.8 -15.8 21.6 18.0
S&P/TSX Composite Index -46.4 59.0 24.1 -10.9 9.6 5.9 1.4 -23.6 25.4 16.8
Balanced Pooled Fund -31.3 37.9 16.7 1.1 14.8 13.8 3.9 -7.0 8.1 19.0
Balanced Pooled Benchmark -31.3 34.1 15.1 -1.4 10.5 7.4 0.4 -11.5 11.4 16.1
Canadian Bond Pooled Fund -14.2 23.3 12.9 7.1 6.6 -7.6 -0.3 -13.5 5.3 9.2
FTSE TMX Canada Universe Bond Index -14.9 24.1 12.6 7.0 5.9 -7.4 -0.2 -13.7 5.3 9.7

1 The Mawer New Canada Fund is capped to new and existing mutual fund investors. Additional units of this fund are not available for purchase.


Fund Inception Dates and Benchmark History

Fund Inception Dates

International Equity Fund: November 6, 1987
U.S. Equity Fund: December 10, 1992
Global Equity Fund: October 22, 2009
Global Small Cap Fund: October 2, 2007
Emerging Markets Equity Fund: January 31, 2017
Canadian Equity Fund: June 3, 1991
New Canada Fund (CLOSED): January 8, 1988
Global Balanced Fund: July 2, 2013
Balanced Fund: March 31, 1988
Tax Effective Balanced Fund: January 8, 1988
Global Bond Fund: May 28, 2015
Canadian Bond Fund: June 21, 1991
Canadian Money Market Fund: February 19, 1988

Benchmark History

International Equity Benchmark:

Mawer International Equity Benchmark History (changes made prospectively):

Jan 1988: MSCI EAFE (net)
Oct 2016: MSCI ACWI ex-USA (net)

Rationale for Change: MSCI ACWI (net) excluding US Index is a better representation of the mandate in our opinion. For example, the past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and investment policy statement.

Benchmark returns are rebalanced on a monthly basis.

Global Equity Benchmark:

Mawer Global Equity Benchmark History (changes made prospectively):

Oct: 2009: MSCI World (net)
Oct 2016: MSCI ACWI (net)

Rationale for Change: MSCI ACWI (net) Index is a better representation of the mandate in our opinion. Past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and investment policy statement. 

Benchmark returns are rebalanced on a monthly basis.

Global Small Cap Benchmark:

Mawer Global Small Cap Benchmark History (changes made prospectively):

Oct 2007: Russell Global Small Cap 
Oct 2016: ACWI Small Cap (net) Total Return index

Rationale for Change: MSCI ACWI Small Cap (Net) Index is consistent with using MSCI benchmarks in other asset classes outside of Canada and the United States. In addition, the MSCI ACWI Small Cap (Net) Index follows the Global Investment Classification Standards (GICS) whereas the Russell Global Small Cap Index does not.

Benchmarks returns are rebalanced on a monthly basis.

New Canada Fund Benchmark:

Mawer New Canada Benchmark History (changes made prospectively):

Jan 1988: BMO Weighted Small Cap (Blended)
Oct 2016: S&P/TSX Small Cap

Rationale for Change: S&P/TSX Small Cap Index is a better benchmark in our opinion. For example, it provides better comparability, liquidity and a more readily available data set.

Benchmark returns are rebalanced on a monthly basis.

Internal Global Balanced Benchmark:

Mawer Global Balanced Benchmark History (changes made prospectively):

July 2013: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 60% MSCI World Net (Cdn$) 
Aug 2013: MSCI World Net (Cdn $) returns is used to calculate the blended benchmark from inception. Previously, MSCI World Gross (Cdn $) was used.
Oct 2015: 20% FTSE TMX Canada Universe Bond, 20% Citi WGBI, 60% MSCI World Net (Cdn$)
Oct 2016: 20% FTSE TMX Canada Universe Bond, 20% Citi WGBI, 60% MSCI ACWI (net)

Rationale for Change: Changes were made to underlying asset class benchmarks as noted in above in the Equity Asset Class Tables. Because the   benchmarks for the Mawer Global Balanced Fund are based on those of the underlying funds, the internal Global Balanced benchmark changes accordingly.

Mawer Global Equity Benchmark History (changes made prospectively):

Oct: 2009: MSCI World (net)
Oct 2016: MSCI ACWI (net)

Rationale for Change: MSCI ACWI (net) Index is a better representation of the mandate in our opinion. Past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and investment policy statement.) 

Benchmarks returns are rebalanced on a monthly basis.

Internal Balanced Benchmark:

Mawer Balanced Benchmark History (changes made prospectively):

Jan 2002: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 25% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net)
Jan 2012: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 15% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net), 7.5% BMO   Weighted Small Cap (Blended), 7.5% Russell Global Small Cap
Aug 2013: MSCI EAFE (net) returns is used to calculate the blended benchmark from inception. Previously, MSCI EAFE (gross) was used.
Oct 2015: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% BMO Small Cap (blended), 15% S&P 500, 15% MSCI EAFE (net), 7.5% Russell Global Small Cap
Oct 2016: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% S&P/TSX Small Cap, 15% S&P 500, 15% MSCI ACWI ex-USA (net), 7.5% ACWI Small Cap (net)

Rationale for Change: Changes were made to underlying asset class benchmarks as noted in above in the Equity Asset Class Tables. Because the benchmarks for the Mawer Balanced Fund are based on those of the underlying funds, the internal Balanced benchmark changes accordingly.

Mawer International Equity Benchmark History (changes made prospectively):

Jan 1988: MSCI EAFE (net)
Oct 2016: MSCI ACWI ex-USA (net) 

Rationale for Change: MSCI ACWI (net) excluding US Index is a better representation of the mandate in our opinion. For example, the past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and   investment policy statement.

Mawer New Canada Benchmark History (changes made prospectively):

Jan 1988: BMO Weighted Small Cap (Blended)
Oct 2016: S&P/TSX Small Cap

Rationale for Change: S&P/TSX SmallCap Index is a better benchmark in our opinion. For example, it provides better comparability, liquidity and a more readily available data set.

Mawer Global Small Cap Benchmark History (changes made prospectively):

Oct 2007: Russell Global Small Cap 
Oct 2016: ACWI Small Cap (net)

Rationale for Change: MSCI ACWI Small Cap (Net) Index is consistent with using MSCI benchmarks in other asset classes outside of Canada and the United States. In addition, the MSCI ACWI Small Cap (Net) Index follows the Global Investment Classification Standards (GICS) whereas the Russell Global Small Cap Index does not.

Benchmark returns are rebalanced on a monthly basis.

Internal Tax Effective Balanced Benchmark:

Mawer  Tax Effective Balanced Benchmark History (changes made prospectively):

Jan 2011: 5% 91 Day Treasury Bill, 37.5% FTSE TMX Canada Universe Bond, 22.5% S&P/TSX Composite, 17.5% S&P 500, 17.5% MSCI EAFE (net)
Jan 2012: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 15% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net), 7.5% BMO   Weighted Small Cap (Blended), 7.5% Russell Global Small Cap
Aug 2013: MSCI EAFE (net) returns is used to calculate the blended benchmark from inception. Previously, MSCI EAFE (gross) was used.
Oct 2015: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% BMO Small Cap (blended), 15% S&P 500, 15% MSCI EAFE (net), 7.5% Russell Global Small Cap
Oct 2016: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% S&P/TSX Small Cap, 15% S&P 500, 15% MSCI ACWI ex-USA (net), 7.5% MSCI ACWI Small Cap (net)

Rationale for Change: Changes were made to underlying asset class benchmarks as noted in above in the Equity Asset Class Tables. Because the benchmarks for the Mawer Tax Effective Balanced Fund are based on those of the underlying funds, the internal Balanced benchmark changes   accordingly. 

Mawer International Equity Benchmark History (changes made prospectively):

Jan 1988: MSCI EAFE (net)
Oct 2016: MSCI ACWI ex-USA (net)

Rationale for Change: MSCI ACWI (net) excluding US Index is a better representation of the mandate in our opinion. For example, the past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and   investment policy statement.

Mawer New Canada Benchmark History (changes made prospectively):

Jan 1988: BMO Weighted Small Cap (Blended)
Oct 2016: S&P/TSX Small Cap

Rationale for Change: MSCI ACWI (net) Index is a better representation of the mandate in our opinion. Past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and investment policy statement.

Mawer Global Small Cap Benchmark History (changes made prospectively):

Oct 2007: Russell Global Small Cap 
Oct 2016: ACWI Small Cap (net)

Rationale for Change: MSCI ACWI Small Cap (Net) Index is consistent with using MSCI benchmarks in other asset classes outside of Canada and the United States. In addition, the MSCI ACWI Small Cap (Net) Index follows the Global Investment Classification Standards (GICS) whereas the Russell Global Small Cap Index does not.

Benchmark returns are rebalanced on a monthly basis.


Mawer Mutual Fund returns are reported in Canadian dollars and calculated after management fees and operating expenses have been deducted. In comparison, index returns do not incur management fees or operating expenses. 

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and are annualized compounded total returns for periods after 1 year. Index returns are supplied by a third party—we believe the data to be accurate, however, cannot guarantee its accuracy. Index returns sourced from Citigroup, FTSE russell, TD Securities, FactSet and BMO Capital Markets.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mawer Mutual Funds are managed by Mawer Investment Management Ltd.

Additionally for money market funds, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

Mawer Mutual Funds are managed by Mawer Investment Management Ltd. Mawer Fund returns are reported in Canadian dollars and calculated after operating expenses have been deducted. In comparison, Index returns do not incur management fees or operating expenses. Management fees are paid to Mawer based on fee agreements with unitholders.

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and are annualized compounded total returns for periods after 1 year. Index returns are supplied by a third party—we believe the data to be accurate, however, cannot guarantee its accuracy. Index returns sourced from Citigroup, FTSE russell, TD Securities, FactSet and BMO Capital Markets.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mawer Mutual Funds are managed by Mawer Investment Management Ltd.

Additionally for money market funds, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

Mawer Mutual Funds are managed by Mawer Investment Management Ltd. Mawer Fund returns are reported in U.S. dollars and calculated after operating expenses have been deducted. In comparison, Index returns do not incur management fees or operating expenses. Management fees are paid to Mawer based on fee agreements with unitholders.

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and are annualized compounded total returns for periods after 1 year. Index returns are supplied by a third party—we believe the data to be accurate, however, cannot guarantee its accuracy. Index returns sourced from Citigroup, FTSE russell, TD Securities, FactSet and BMO Capital Markets.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mawer Mutual Funds are managed by Mawer Investment Management Ltd.

Additionally for money market funds, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.