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Mawer Global Credit Opportunities Fund
As at June 30, 2026
Morningstar Rating™ *:
N/A
Fund Managers:
Brian Carney, CIM
Series Start Date:
Jan 31, 2024
Fund Net Asset Value:
$784.20 million
Total Net Asset Value (Series F):
$18.00 million
Net Asset Value Per Unit:
$10.00
RRSP Eligibility:
Yes
Management Expense Ratio† :
0.92% (as at June 30, 2026)
Fund Code:
MAW190
Related Links
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Global Credit: Energy Shocks, AI Borrowing, and Signs of Stress | EP 214
April 23, 2026
25 Mins
Extra Credit: “Hey Google, how much can I borrow before I break the bond market?”
March 18, 2026
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 (%)
Toronto-Dominion Bank 5.42% July 10, 20268.6
Cash and Cash Equivalents4.9
Canadian Imperial Bank of Commerce 4.95% June 29, 20274.7
Heathrow Funding Ltd 2.69% October 13, 20273.8
Royal Bank of Canada 4.1% August 3, 20263.7
Bank of America Corp 3.62% March 16, 20283.3
Algoma Steel Inc 9.13% April 15, 20293.2
CI Financial Corp 3.2% December 17, 20303.0
Citigroup Inc 4.3% November 20, 20262.8
FMC Corp 4.5% October 1, 20492.7
Whirlpool Corp 7.5% July 1, 20312.5
CoreWeave Inc 9% February 1, 20312.4
Walmart Inc 3.05% July 8, 20262.3
Amazon.com Inc 3.7% June 12, 20312.3
Nestle Holdings Inc 1.5% September 14, 20282.2
Lloyds Banking Group PLC 4.74% November 4, 20312.2
TWDC Enterprises 18 Corp 1.85% July 30, 20262.2
JPMorgan Chase Bank NA 4.67% December 8, 20262.0
Vmed O2 UK Financing I PLC 4.25% January 31, 20312.0
Bank of Montreal 1.25% September 15, 20262.0
Getty Images Inc 11.25% February 21, 20301.9
PepsiCo Inc 5.13% November 10, 20261.8
PepsiCo Inc 2.38% October 6, 20261.8
Ford Motor Co 5.29% December 8, 20461.8
Cisco Systems Inc 4.8% February 26, 20271.7
Net Performance
As at June 30, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer Global Credit Opportunities Fund2.9---
ICE BofA Global Corporate & High Yield Index3.0---
Number of Holdings56
Sector Weights
Portfolio
Security Type Weights
Portfolio
Corporate
Cash and Cash Equivalents
95.1
4.9
Regional Weights
Portfolio
Canada
Europe E.x. U.K.
United Kingdom
United States
Cash and Cash Equivalents
28.6
3.1
10.0
53.4
4.9
Credit Ratings (%)
Portfolio
AAA
AA
A
BBB
BB
B
CCC
5.7
14.9
46.1
17.7
8.1
7.6
0.0
Related Links
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Global Credit: Energy Shocks, AI Borrowing, and Signs of Stress | EP 214
April 23, 2026
25 Mins
Extra Credit: “Hey Google, how much can I borrow before I break the bond market?”
March 18, 2026
Disclaimers
* Funds with less than three years of performance history are not rated.
† The Fund’s MER is made up of the management fee and operating expenses. The Fund’s annual management fee is 0.75% of the Fund’s value. Because this fund is new, its operating expenses are relatively large in comparison to the fund’s assets. Mawer Investment Management Ltd. has committed to subsidize the operating expenses of the Fund from its inception so that the MER is no more than 0.95%; without the subsidy the MER may be higher. Mawer Investment Management Ltd. reserves the right to terminate the subsidy at any time. Management plans to review the subsidy periodically with the intent to remove the subsidy once the MER of the Fund has stabilized. After the subsidized period ends, the actual MER for the Fund may be higher than 0.95%.