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Mawer Global Credit Opportunities Fund
As at September 30, 2025
Morningstar Rating™ *:
N/A
Fund Managers:
Brian Carney, CIM
Series Start Date:
Jan 31, 2024
Fund Net Asset Value:
$663.50 million
Total Net Asset Value (Series A):
$17.20 million
Net Asset Value Per Unit:
$10.05
RRSP Eligibility:
Yes
Management Expense Ratio† :
0.95% (as at 30 Jun 2025)
Fund Code:
MAW190
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Convergence and Complacency: Today's Credit Markets | EP 196
August 28, 2025
33 Mins
Performance
Performance
Fund Documents
Fund Documents
Prices
Prices
Fund Commentary
Fund Commentary
What Does this Fund Invest In?
The Fund is primarily invested in a portfolio of corporate bonds, debentures and other debt like instruments from issuers around the world. The Fund may also invest in asset-backed and mortgage-backed securities, and other securitized products. Equities issued as part of an issuer's restructuring may be held. The Fund intends to hedge its foreign currency exposure back to Canadian Dollars.
Investor Suitability
Investors seeking income and stability. Low to medium risk.
Investment Strategy
The Fund will be managed as an absolute return focused credit fund. The Fund will primarily invest in a portfolio of corporate bonds, debentures and other debt like instruments from issuers around the world. The Fund may also invest in asset-backed and mortgage-backed securities, and other securitized products. Equities issued as part of an issuer's restructuring may be held. Government bonds including, but not limited to, US Treasuries and Canadian Government bonds, may be held. There are no specific limits on the portion of the Fund's assets that may be invested in foreign securities. However, the Fund intends to hedge its foreign currency exposure back to Canadian Dollars.
Top Holdings
Top HoldingsWeight (%)
Citigroup Inc 4.6% March 9, 20266.0
Toronto-Dominion Bank 4.34% January 27, 20264.7
Bank of Montreal 5.3% June 5, 20264.5
Royal Bank of Canada 4.78% August 3, 20264.3
Home Depot Inc 5.15% June 25, 20264.1
Cash and Cash Equivalents4.0
Bank of America Corp 3.62% March 16, 20283.9
Novartis Capital Corp 3% November 20, 20253.0
Amazon.com Inc 1% May 12, 20263.0
Apple Inc 0.7% February 8, 20263.0
CI Financial Corp 3.2% December 17, 20303.0
National Bank of Canada 5.3% November 3, 20253.0
McDonald's Corp 3.7% January 30, 20262.8
Saturn Oil & Gas Inc 9.63% June 15, 20292.7
Walmart Inc 3.05% July 8, 20262.6
Nestle Holdings Inc 1.5% September 14, 20282.6
TWDC Enterprises 18 Corp 1.85% July 30, 20262.5
Cisco Systems Inc 4.9% February 26, 20262.4
John Deere Capital Corp 4.75% June 8, 20262.4
JPMorgan Chase Bank NA 5.28% December 8, 20262.3
Algoma Steel Inc 9.13% April 15, 20292.2
JPMorgan Chase & Co 3.3% April 1, 20262.0
CoreWeave Inc 9% February 1, 20312.0
Visa Inc 3.15% December 14, 20251.9
Bank of America Corp 4.45% March 3, 20261.9
Net Performance
As at September 30, 2025
1 Yr3 Yr5 Yr10 Yr
Mawer Global Credit Opportunities Fund3.2---
ICE BofA Global Corporate & High Yield Index3.2---
Number of Holdings45
Yield to Maturity4.5%
Modified Duration1.2 years
Sector Weights
Portfolio
Automotive
Banking
Basic Industry
Capital Goods
Consumer Goods
Energy
Financial Services
Healthcare
Insurance
Media
Retail
Technology & Electronics
Cash and Cash Equivalents
1.3
35.9
2.2
8.4
6.1
4.4
6.3
6.3
0.3
2.5
15.0
7.4
4.0
Security Type Weights
Portfolio
Regional Weights
Portfolio
Credit Ratings (%)‡
Portfolio
Related Links
Quarterly Update | Q3 2025 | EP 200
October 10, 2025
23 Mins
Convergence and Complacency: Today's Credit Markets | EP 196
August 28, 2025
33 Mins
Disclaimers
* Funds with less than three years of performance history are not rated.
† Management expense ratio (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily net assets during the period.
‡ ICE Credit Rating Methodology: Composite ratings are the simple averages of ratings from Moodyʼs, S&P and Fitch. Ratings must be public and any expected or anticipated ratings are not used. The composite rating is calculated by assigning a numeric equivalent to the ratings in each agencyʼs scale. The average of the numeric equivalents for each agency that rates a bond is rounded to the nearest integer and then converted back to an equivalent composite rating using the scale. If only two of the designated agencies rate a bond, the composite rating is based on an average of the two. Likewise, if only one of the designated agencies rates a bond, the composite rating is based on that one rating. Provisional or estimated ratings are excluded from the composite rating calculation.