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Mawer Global Credit Opportunities Fund
As at December 31, 2025
Morningstar Rating™ *:
N/A
Fund Managers:
Brian Carney, CIM
Series Start Date:
Jan 31, 2024
Fund Net Asset Value:
$695.80 million
Total Net Asset Value (Series A):
$17.10 million
Net Asset Value Per Unit:
$10.00
RRSP Eligibility:
Yes
Management Expense Ratio† :
0.95% (as at 31 Dec 2025)
Fund Code:
MAW190
Related Links
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Extra Credit: Business Development Companies – A Public Window into Private Credit
December 11, 2025
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 (%)
Citigroup Inc 4.6% March 9, 20265.7
Toronto-Dominion Bank 4.34% January 27, 20265.6
Bank of Montreal 5.3% June 5, 20264.2
Royal Bank of Canada 4.37% August 3, 20264.0
Home Depot Inc 5.15% June 25, 20263.8
Bank of America Corp 3.62% March 16, 20283.7
CI Financial Corp 3.2% December 17, 20303.2
Algoma Steel Inc 9.13% April 15, 20293.1
Cash and Cash Equivalents3.0
Apple Inc 0.7% February 8, 20262.8
Amazon.com Inc 1% May 12, 20262.8
Saturn Oil & Gas Inc 9.63% June 15, 20292.7
CoreWeave Inc 9% February 1, 20312.5
Walmart Inc 3.05% July 8, 20262.5
Nestle Holdings Inc 1.5% September 14, 20282.4
Lloyds Banking Group PLC 5.02% November 4, 20312.4
TWDC Enterprises 18 Corp 1.85% July 30, 20262.3
Cisco Systems Inc 4.9% February 26, 20262.3
John Deere Capital Corp 4.75% June 8, 20262.2
JPMorgan Chase Bank NA 4.85% December 8, 20262.2
Procter & Gamble Co 1% April 23, 20262.2
PepsiCo Inc 5.13% November 10, 20262.0
PepsiCo Inc 2.38% October 6, 20262.0
JPMorgan Chase & Co 3.3% April 1, 20261.9
Bank of America Corp 4.45% March 3, 20261.8
Net Performance
As at December 31, 2025
1 Yr3 Yr5 Yr10 Yr
Mawer Global Credit Opportunities Fund2.9---
ICE BofA Global Corporate & High Yield Index5.3---
Number of Holdings52
Sector Weights
Portfolio
Security Type Weights
Portfolio
Regional Weights
Portfolio
Credit Ratings (%)‡
Portfolio
Related Links
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Extra Credit: Business Development Companies – A Public Window into Private Credit
December 11, 2025
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.
† 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.