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Mawer Global Credit Opportunities Fund
As at March 31, 2026
Morningstar Rating™ *:
N/A
Fund Managers:
Brian Carney, CIM
Series Start Date:
Jan 31, 2024
Fund Net Asset Value:
$726.10 million
Total Net Asset Value (Series A):
$17.50 million
Net Asset Value Per Unit:
$9.98
RRSP Eligibility:
Yes
Management Expense Ratio† :
0.95% (as at 31 Dec 2025)
Fund Code:
MAW190
Related Links
Extra Credit: “Hey Google, how much can I borrow before I break the bond market?”
March 18, 2026
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Credit Markets: Caution, Compression, and Opportunity | EP 203
November 26, 2025
20 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 (%)
Cash and Cash Equivalents9.0
Toronto-Dominion Bank 5.42% July 10, 20265.0
Bank of Montreal 5.3% June 5, 20264.1
Royal Bank of Canada 4.14% August 3, 20263.9
Home Depot Inc 5.15% June 25, 20263.7
Bank of America Corp 3.62% March 16, 20283.5
Algoma Steel Inc 9.13% April 15, 20293.3
CI Financial Corp 3.2% December 17, 20303.1
Amazon.com Inc 1% May 12, 20262.8
CoreWeave Inc 9% February 1, 20312.4
Walmart Inc 3.05% July 8, 20262.4
Nestle Holdings Inc 1.5% September 14, 20282.4
Lloyds Banking Group PLC 4.78% November 4, 20312.3
TWDC Enterprises 18 Corp 1.85% July 30, 20262.3
John Deere Capital Corp 4.75% June 8, 20262.2
JPMorgan Chase Bank NA 4.69% December 8, 20262.1
Procter & Gamble Co 1% April 23, 20262.1
Bank of Montreal 1.25% September 15, 20262.1
PepsiCo Inc 5.13% November 10, 20262.0
PepsiCo Inc 2.38% October 6, 20261.9
JPMorgan Chase & Co 3.3% April 1, 20261.8
Cisco Systems Inc 4.8% February 26, 20271.8
Citigroup Inc 4.3% November 20, 20261.6
Royal Bank of Canada 6.45% July 20, 20261.6
JPMorgan Chase & Co 5.04% January 23, 20281.5
Net Performance
As at March 31, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer Global Credit Opportunities Fund3.0---
ICE BofA Global Corporate & High Yield Index3.0---
Number of Holdings56
Yield to Maturity4.5%
Modified Duration1.1 years
Sector Weights
Portfolio
Automotive
Banking
Basic Industry
Capital Goods
Consumer Goods
Energy
Financial Services
Healthcare
Insurance
Media
Retail
Technology & Electronics
Telecommunications
Cash and Cash Equivalents
1.1
33.1
5.2
8.9
9.3
1.1
7.3
4.0
0.3
3.2
12.1
2.8
2.4
9.0
Security Type Weights
Portfolio
Regional Weights
Portfolio
Credit Ratings (%)‡
Portfolio
Related Links
Extra Credit: “Hey Google, how much can I borrow before I break the bond market?”
March 18, 2026
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Credit Markets: Caution, Compression, and Opportunity | EP 203
November 26, 2025
20 Mins
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%.
‡ 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.