The Fund invests primarily in bonds and debentures of Canadian government and corporate issuers.
Treasury bills or short-term investments will also be used.
Mawer Canadian Bond Fund
As at December 31, 2024- Morningstar Rating™
- (as at Dec 31, 2024)
- Fund Managers:
-
Crista Caughlin, CFA
- Series Start Date:
- Jun 21, 1991
- Fund Net Asset Value:
- $3,687.00 million
- Total Net Asset Value (Series A):
- $119.60 million
- Net Asset Value Per Unit:
- $11.77
- RRSP Eligibility:
- Yes
- Management Expense Ratio * :
- 0.68% (as at Dec 31, 2024)
- Fund Code:
- MAW100
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 Holdings | Weight (%) |
|---|---|
| Province of Quebec 3.6% September 1, 2033 | 8.5 |
| Canadian Government Bond 2% June 1, 2032 | 6.9 |
| Province of Ontario 3.65% June 2, 2033 | 5.5 |
| Canadian Pacific Railway Co 2.54% February 28, 2028 | 3.4 |
| JPMorgan Chase & Co 1.9% March 5, 2028 | 3.0 |
| Canadian Government Bond 3.25% December 1, 2033 | 2.8 |
| Canada Housing Trust No 1 3.5% December 15, 2034 | 2.7 |
| Canada Housing Trust No 1 2.15% December 15, 2031 | 2.6 |
| Canadian Government Bond 2% December 1, 2051 | 2.3 |
| Hydro One Inc 4.91% January 27, 2028 | 2.3 |
| Verizon Communications Inc 2.5% May 16, 2030 | 1.9 |
| Province of Ontario 4.65% June 2, 2041 | 1.9 |
| Province of Alberta 3.1% June 1, 2050 | 1.8 |
| Canada Housing Trust No 1 1.75% June 15, 2030 | 1.6 |
| Province of Ontario 3.8% December 2, 2034 | 1.6 |
| Province of Alberta 3.05% December 1, 2048 | 1.6 |
| Canadian National Railway Co 4.6% May 2, 2029 | 1.5 |
| North West Redwater Partnership / NWR Financing Co Ltd 2.8% June 1, 2031 | 1.4 |
| TELUS Corp 4.8% December 15, 2028 | 1.4 |
| Alimentation Couche-Tard Inc 4.6% January 25, 2029 | 1.4 |
| Bank of Montreal 3.65% April 1, 2027 | 1.4 |
| Cash and Cash Equivalents | 1.4 |
| Canada Housing Trust No 1 3.65% June 15, 2033 | 1.4 |
| Royal Bank of Canada 3.63% December 10, 2028 | 1.4 |
| Province of Ontario 2.8% June 2, 2048 | 1.1 |
Net Performance †
As at March 31, 2025
Bond Sector Weights
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 A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
- ‡ Fixed Income holdings, excluding cash.
- § The expected annual total return if all portfolio holdings are held to maturity.
- ‖ The estimated percentage price change of the portfolio given a change in yields.
Mawer Mutual Funds are managed by Mawer Investment Management Ltd. 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.
Index returns are supplied by third parties—we believe the data to be accurate, however, cannot guarantee its accuracy.
Performance returns for the Mawer Mutual Funds and benchmarks are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and annualized compounded total returns for periods after 1 year.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and prospectus before investing. The indicated rates of return (other than for a money market fund) are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions. The indicated rates of return for a money market fund is an annualized historical yield based on the seven-day period ended as indicated and annualized in the case of effective yield by compounding the seven-day return and does not represent an actual one-year return. The indicated rates of return 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. 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 a money market fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment will be returned to you. Mawer Mutual Funds are managed by Mawer Investment Management Ltd.
Mawer Mutual Funds do not have trailing commissions. If you purchased units of the Mawer Mutual Funds through a third-party dealer, you may be subject to commissions or additional sales charges. Please contact your dealer for more information.
The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
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