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Mawer Global Balanced Fund
As at December 31, 2025
Morningstar Rating™
(As at Dec 31, 2025)
Fund Managers:
Steven Visscher, CFA
Greg Peterson, CFA
Series Start Date:
Dec 31, 2013
Fund Net Asset Value:
$834.10 million
Total Net Asset Value (Series A):
$428.50 million
Net Asset Value Per Unit:
$20.71
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.10% (as at 31 Dec 2025)
Trading Expense Ratio†:
0.03% (as at 31 Dec 2025)
Fund Code:
MAW130
Related Links
Quarterly Update | Q4 2025 | EP206
January 15, 2026
21 Mins
Performance
Performance
Fund Documents
Fund Documents
Prices
Prices
Fund Commentary
Fund Commentary
What Does this Fund Invest In?
The Fund invests primarily in equity and equity-related securities and fixed-income securities from around the world. The Fund may invest in any part of the capital structure in both public and private entities.
Investor Suitability
Investors seeking long-term growth at low-medium risk.
Investment Strategy
A bottom up approach is taken to construct this Fund. The equities are chosen on a global basis and are coupled with the stability of investment grade Canadian bonds. Risk is further managed through extensive diversification across many industries, countries, and currencies.

Asset Mix‖

Equities
62.9%
Bonds
34.9%
Cash
2.2%
Top Holdings‖
Top HoldingsWeight (%)
Mawer Canadian Bond Fund Series O30.1
Mawer Global Credit Opportunities Fund Series O4.9
Microsoft Corp3.6
Taiwan Semiconductor Manufacturing Co Ltd3.4
Alphabet Inc3.3
Amazon.com Inc2.6
Cash and Cash Equivalents2.2
Marsh & McLennan Cos Inc2.2
Booking Holdings Inc2.1
Visa Inc1.9
Berkshire Hathaway Inc1.7
Meta Platforms Inc1.7
Publicis Groupe SA1.6
Tencent Holdings Ltd1.6
SK hynix Inc1.6
Wells Fargo & Co1.4
Northrop Grumman Corp1.4
Amphenol Corp1.3
Roche Holding AG1.3
Alimentation Couche-Tard Inc1.2
Orkla ASA1.1
CGI Inc1.0
Waters Corp1.0
DNB Bank ASA1.0
Intercontinental Exchange Inc1.0
Net Performance‡
As at December 31, 2025
1 Yr3 Yr5 Yr10 Yr
Mawer Global Balanced Fund0.17.04.35.8
Internal Global Balanced Benchmark††11.114.47.57.6
Morningstar Rating™
1
1
1
2
Number of Funds in Morningstar Category
1092
1010
873
552
Number of Holdings§,‖78
Number of Countries§,16
Equity Sector Weights
Portfolio
Internal Global Balanced Benchmark[††]
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
14.9
8.8
10.6
10.2
6.7
5.1
1.5
3.4
26.1
17.6
6.7
9.0
12.1
10.6
20.4
27.2
0.6
3.7
0.0
1.8
0.4
2.5
Related Links
Quarterly Update | Q4 2025 | EP206
January 15, 2026
21 Mins
Disclaimers
* Management expense ratio (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily average net assets during the period.
† The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during the year.
‡ Performance has been presented for the A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
§ Equity and Fixed Income holdings, excluding cash
‖ Fund level exposure
Security level exposure
** Mawer Global Balanced Fund Series A inception: June 28, 2013.
†† See benchmark history.