Institutions
Mawer Canadian Bond Fund
As at June 30, 2026
Morningstar Rating™
(As at June 30, 2026)
Fund Managers:
Crista Caughlin, CFA
Series Start Date:
Jun 21, 1991
Fund Net Asset Value:
$3,255.90 million
Total Net Asset Value (Series F):
$84.50 million
Net Asset Value Per Unit:
$11.74
RRSP Eligibility:
Yes
Management Expense Ratio* :
0.64% (as at June 30, 2026)
Fund Code:
MAW100
Related Links
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Quarterly Update | Q1 2026 | EP 213
April 14, 2026
29 Mins
Quarterly Update | Q4 2025 | EP206
January 15, 2026
21 Mins
What Does this Fund Invest In?
The Fund invests primarily in bonds and debentures of Canadian government and corporate issuers. Treasury bills or short-term investments will also be used.
Investor Suitability
Investors seeking income and stability. Low risk.
Investment Strategy
In order to achieve its investment objectives, the Manager positions the Fund along points on the yield curve which offers the most attractive yields relative to the duration of the security, maintaining a bias for the part of the curve that offers attractive characteristics in the context of the central bank policy. The Fund will typically overweight sectors that provide attractive yields relative to Government of Canada Bonds with an emphasis on investment-grade corporate, provincial and municipal bonds. The Manager will utilize in-house, bottom-up credit analysis and will monitor bond markets in an effort to identify mispriced securities.
Top Holdings
Top HoldingsWeight (%)
Cash and Cash Equivalents3.1
Canadian Government Bond 2% December 1, 20515.3
Canadian Imperial Bank of Commerce 3.65% January 13, 20322.7
Canadian Government Bond 3.25% December 1, 20352.7
Canada Housing Trust No 1 2.15% December 15, 20312.7
Province of Quebec 4% September 1, 20352.6
Province of Ontario 2.9% December 2, 20462.6
North West Redwater Partnership / NWR Financing Co Ltd 2.8% June 1, 20312.4
Province of Ontario 3.8% December 2, 20342.3
Amazon.com Inc 3.7% June 12, 20312.2
Bank of Nova Scotia 3.62% January 30, 20322.1
Royal Bank of Canada 3.57% December 9, 20312.0
Canadian Government Bond 2.75% March 1, 20312.0
Province of Quebec 4.45% September 1, 20342.0
Province of Quebec 3.5% December 1, 20481.8
Bank of Montreal 4.42% July 17, 20291.8
Bank of Montreal 3.54% March 3, 20321.7
Province of Quebec 4% September 1, 20361.7
Toronto-Dominion Bank 3.61% September 10, 20311.7
Province of Ontario 3.65% June 2, 20331.6
Province of Alberta 3.1% June 1, 20501.6
Province of Ontario 4.6% June 2, 20391.5
Province of Quebec 3.6% September 1, 20331.5
Royal Bank of Canada 3.99% July 22, 20311.5
Province of Quebec 3.1% December 1, 20511.5
Net Performance
As at June 30, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer Canadian Bond Fund2.84.00.41.2
FTSE Canada Universe Bond Index3.54.40.81.7
Morningstar Rating™
2
2
3
3
Number of Funds in Morningstar Category
399
359
340
238
Number of Holdings87
Yield to Maturity3.7%
Modified Duration7.0 years

Fixed Income Details

Yield to maturity (%)3.7
Effective maturity (years)9.1
Modified duration (years)7.0

Credit Rating Profile (% of Fixed Income)

AAA20.9%
AA29.9%
A42.6%
BBB6.6%

Maturity (% of Fixed Income)

0-3 Years6.9%
3-5 Years22.5%
5-10 Years43.6%
>10 Years26.9%

Sector Allocation (% of Fixed Income)

Corporate47.0%
Provincial27.3%
Federal20.5%
Municipal2.1%
Cash3.1%
Related Links
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Quarterly Update | Q1 2026 | EP 213
April 14, 2026
29 Mins
Quarterly Update | Q4 2025 | EP206
January 15, 2026
21 Mins
Disclaimers
* Management expense ration (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily net assets during the period.
Performance has been presented for the F-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
Fixed Income holdings, excluding cash.