Performance

Currency Type ($): CAD / USD
Annualized Annual

Annual Performance (Series O)

Total Gross Returns (CAD$) for Periods Ending December 31

Mawer Equity Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

International Equity Fund

-1.1

-31.0

26.4

10.0

-6.1

21.1

24.2

10.6

22.0

-1.9

International Equity Benchmark*

-5.7

-29.2

11.9

2.1

-10.0

14.7

31.0

3.7

19.0

-3.0

U.S. Equity Fund

-7.0

-13.2

3.6

7.1

5.6

13.3

43.3

22.2

20.7

6.8

S&P 500 Index

-10.5

-21.2

7.4

9.1

4.6

13.4

41.3

23.9

21.6

8.1

Global Equity Fund

-

-

-

7.8

4.6

18.4

36.0

15.9

23.1

0.9

Global Equity Benchmark*

-7.5

-25.8

10.4

5.9

-3.2

13.3

35.2

14.4

18.9

3.1

Global Small Cap Fund

-

-28.5

42.2

18.5

2.2

31.6

49.1

14.0

31.3

1.1

Global Small Cap Benchmark*

-6.9

-32.2

25.9

19.2

-11.6

15.6

33.7

9.1

18.3

8.3

Mawer Emerging Markets Equity Fund**

-

-

-

-

-

-

-

-

-

-

MSCI Emerging Markets Index

-

-

-

-

-

-

-

-

-

-

Canadian Equity Fund

12.7

28.6

30.9

15.1

3.2

13.9

26.8

17.1

0.9

17.2

S&P/TSX Composite Index

9.8

-33.0

35.1

17.6

-8.7

7.2

13.0

10.6

-8.3

21.1

New Canada Fund (CLOSED)***

18.2

-37.1

52.9

25.4

2.6

17.9

51.1

13.7

3.4

20.9

New Canada Benchmark*

2.0

-46.6

75.1

38.5

-14.2

2.5

7.8

-0.1

-13.8

35.5

Mawer Balanced Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Global Balanced Fund

-

-

-

-

-

-

-

13.0

15.8

0.5

Global Balanced Benchmark*

-3.1

-14.1

8.4

6.1

1.5

9.3

19.5

11.7

12.9

2.0

Balanced Fund

3.8

-15.4

17.4

10.8

3.9

12.4

21.3

13.1

11.5

4.1

Balanced Benchmark*

1.6

-14.1

13.9

9.1

1.1

8.1

14.6

9.5

6.2

7.4

Mawer Income Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Global Bond Fund

-

-

-

-

-

-

-

-

-

-4.0

Citi World Government Bond Index

-5.9

38.7

-12.9

-0.3

9.0

-0.6

2.4

8.5

15.6

-1.9

Canadian Bond Fund

3.9

6.8

5.0

7.1

9.9

4.4

-1.4

8.6

3.8

1.6

FTSE TMX Canada Universe Bond Index

3.7

6.4

5.4

6.7

9.7

3.6

-1.2

8.8

3.5

1.7

Canadian Money Market Fund

4.1

2.5

0.3

0.4

0.9

0.8

0.9

0.9

0.5

0.4

FTSE TMX 91 Day T-Bill Index

4.4

3.3

0.6

0.5

1.0

1.0

1.0

0.9

0.6

0.5


Annual Performance (Pooled Funds)

Mawer Pooled Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

International Equity Pooled Fund

-

-

-

-

-

-

24.2

10.0

21.7

-2.1

International Equity Benchmark*

-5.7

-29.2

11.9

2.1

-10.0

14.7

31.0

3.7

19.0

-3.0

Canadian Equity Pooled Fund

12.5

-29.0

30.8

14.9

1.9

13.9

26.5

17.5

0.9

17.4

S&P/TSX Composite Index

9.8

-33.0

35.1

17.6

-8.7

7.2

13.0

10.6

-8.3

21.1

Balanced Pooled Fund

3.7

-14.6

17.1

10.6

3.6

12.2

21.4

13.3

11.5

4.3

Internal Balanced Pooled Benchmark*

1.6

-14.1

13.9

9.1

1.1

8.1

14.6

9.5

6.1

7.6

Canadian Bond Pooled Fund

3.8

7.3

4.7

7.0

9.8

4.3

-1.4

8.7

3.8

1.6

FTSE TMX Canada Universe Bond Index

3.7

6.4

5.4

6.7

9.7

3.6

1.2

8.8

3.5

1.7

Please refer to the benchmark history below.

** This information is not available because the Fund has not yet completed a Financial year.

*** The Mawer New Canada Fund is capped to new and existing mutual fund investors. Additional units of this fund are not available for purchase.

Mutual funds are not guaranteed. Values can change frequently and past performance is not indicative of future performance. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual fund securities, including money market funds, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per share at a constant amount or that the full amount of your investment in the fund will be returned to you. Please read the prospectus before investing.

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. The rates of return are the historical simple rates for 1 year. They include changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.

Index returns are supplied by a third party – we believe the data to be accurate, however, cannot guarantee its accuracy.

Annualized Performance (Series O)

Total Gross Returns (CAD$) as at March 31, 2017

Mawer Equity Funds

3-Mo

YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

Since
Inception**

International Equity Fund

8.2

8.2 9.5 6.5 10.8

13.7

14.3

6.7

10.1

International Equity Benchmark*

7.3

7.3

15.2

3.9

7.0

11.9

12.1

2.5

6.1

U.S. Equity Fund

5.0

5.0 16.7 9.9 16.6 20.3 19.7 10.1 9.0

S&P 500 Index

5.5

5.5 20.8 12.1 17.6 21.1 20.0 9.1 8.8

Global Equity Fund

6.2

6.2 12.0

8.8

13.0 17.5 17.6 - 15.0

Global Equity Benchmark*

6.3 6.3 18.1 7.9 12.3 16.4 15.8 - 12.6

Global Small Cap Fund

5.6

5.6 13.4 11.3 13.9 22.1 22.9 - 15.0

Global Small Cap Benchmark*

5.4 5.4 22.7 9.0 11.5 15.4 15.3 - 7.4

Mawer Emerging Markets Equity Fund***

-

-

-

- - - - - -

MSCI Emerging Markets Index

-

- - - - - - - -

Canadian Equity Fund

2.4

2.4

15.2

7.7 10.2 13.8 14.2 9.4 11.0

S&P/TSX Composite Index

2.4

2.4 18.6 5.3 5.8 8.3 7.8 4.7 7.3

New Canada Fund (CLOSED)****

3.0

3.0 21.7 12.1 10.4

19.4

19.2 13.6 16.1

New Canada Benchmark*

1.5

1.5 27.7 8.9 2.9 6.0 4.0 3.4 7.1

Mawer Balanced Funds

3-Mo

YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

Since
Inception**

Global Balanced Fund

4.3

4.3 7.2 5.7 9.4 - - - 11.7

Global Balanced Benchmark*

4.2 4.2 10.8 5.1 8.8 - - - 10.8

Balanced Fund

3.8

3.8 8.8 5.8 9.2 11.8 12.0 8.1 8.7

Balanced Benchmark*

3.2

3.2 12.2 5.1 7.2 9.0 8.8 5.6 6.2

Mawer Income Funds

3-Mo

YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

Since
Inception**

Global Bond Fund

1.5 1.5 -0.7 - - - -

-

3.4

Citi World Government Bond Index

1.0

1.0 -0.7 - - - - - 6.0

Canadian Bond Fund

1.3

1.3

1.2 1.3 4.1 3.2 3.6 5.0 4.9

FTSE TMX Canada Universe Bond Index

1.2

1.2 1.5 1.1 4.1 3.3 3.5 4.8 4.9

Canadian Money Market Fund

0.1

0.1 0.4 0.4 0.6 0.6 0.7 1.1 1.2

FTSE TMX 91 Day T-Bill Index

0.1 0.5 0.5 0.5 0.6 0.7 0.8 1.3 1.5


Annualized Performance (Pooled Funds)

Mawer Pooled Funds

3-Mo

YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

Since
Inception**

International Equity Pooled Fund

8.2 8.2 9.1 6.1 10.4 13.5 - - 16.0

International Equity Benchmark*

7.3

7.3 15.2 3.9 7.0 11.9 - - 15.1

Canadian Equity Pooled Fund

2.5

2.5 15.5 7.9 10.4 13.9 14.3 9.2 11.6

S&P/TSX Composite Index

2.4 2.4 18.6 5.3 5.8 8.3 7.8 4.7 7.7

Balanced Pooled Fund

3.8 3.8 8.9 5.8 9.3 11.9 12.1 8.1 8.3

Balanced Pooled Benchmark*

3.2

3.2 12.3 5.1 7.2 9.0 8.8 5.6 6.0

Canadian Bond Pooled Fund

1.3

1.3 1.2 1.3 4.1 3.2 3.6 5.0 5.6

FTSE TMX Canada Universe Bond Index

1.2

1.2 1.5 1.1 4.1 3.3 3.5 4.8 5.6

* Please refer to the benchmark history below.

** Please refer to the fund inception dates below.

*** This information is not available because the Fund has not yet completed a Financial year.

**** The Mawer New Canada Fund is capped to new and existing mutual fund investors. Additional units of this fund are not available for purchase.

Mutual funds are not guaranteed. Values can change frequently and past performance is not indicative of future performance. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual fund securities, including money market funds, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per share at a constant amount or that the full amount of your investment in the fund will be returned to you. Please read the prospectus before investing.

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and are annualized compounded total returns for periods after 1 year. They include changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.

Index returns are supplied by a third party – we believe the data to be accurate, however, cannot guarantee its accuracy.

Annual Performance (Series O)

Total Gross Returns (USD$) for Periods Ending December 31

Mawer Equity Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

International Equity Fund

16.7

-44.9

48.9

16.0

-8.3

23.9

16.4

1.5

1.8

1.6 

International Equity Benchmark**

11.2

-43.4

31.8

7.8

-12.1

17.3

22.8

-4.9

-0.8

-2.9 

U.S. Equity Fund

9.7

-30.6

22.0

13.0

3.1

15.8

34.3

12.1

0.7

 10.6

S&P 500 Index

5.5

-37.0

26.5

15.1

2.1

16.0

32.4

13.7

1.4

-1.4 

Global Equity Fund

-

-

-

13.8

2.1

21.0

27.4

6.3

2.6

 4.6

Global Equity Benchmark**

9.0

-40.7

30.0

11.8

-5.5

15.8

26.7

4.9

-0.9

 -3.3

Global Small Cap Fund

-

-42.8

67.5

25.0

-0.3

34.6

39.7

4.5

9.5

 4.7

Global Small Cap Benchmark**

9.7

-45.8

48.2

25.7

-13.7

18.3

25.3

0.1

-1.4

12.1 

Mawer Emerging Markets Equity Fund**

-

-

-

-

-

-

-

-

-

- 

MSCI Emerging Markets Index

-

-

-

-

-

-

-

-

-

-

Canadian Equity Fund

32.9

-42.9

 54.1

21.4

0.7

16.5

18.8

7.4

-15.8

21.4 

S&P/TSX Composite Index

24.7

-51.1

73.9

37.5

-10.1

7.1

5.2

-3.0

-23.6

 25.4

New Canada Fund (CLOSED)*

39.4

-49.7

80.1

32.3

0.1

20.5

41.6

4.3

-13.8

 25.3

New Canada Benchmark**

20.3

-57.3

106.2

46.2

-16.2

4.8

1.0

-8.3

-28.1

40.4 

Mawer Balanced Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016 

Global Balanced Fund

- - - - - - -

3.6

-3.4

 4.1

Global Balanced Benchmark**

14.2

-31.3

27.7

12.0

-1.0

11.8

12.0

2.5

-5.9

5.6 

Balanced Fund

22.4

-32.4

38.3

16.9

1.3

14.9

13.6

3.8

-7.0

7.8 

Balanced Benchmark**

19.8

-31.3

34.1

15.1

-1.4

10.5

7.4

0.4

-11.5

11.3 

Mawer Income Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

 2016

Global Bond Fund

-

-

-

-

-

-

-

-

-

-0.6 

Citi World Government Bond Index

-

-

-

-

-

-

-

-

-

 1.6

Canadian Bond Fund

22.6

-14.6

23.7

13.0

7.3

6.8

-7.6

-0.4

-13.5

5.3 

FTSE TMX Canada Universe Bond Index

22.3

-14.9

24.1

12.6

7.0

5.9

-7.4

-0.2

-13.7

5.3 

Canadian Money Market Fund

22.7

-18.1

18.1

5.9

-1.6

3.1

-5.4

-7.5

-16.2

4.0 

FTSE TMX 91 Day T-Bill Index

23.1

-17.4

18.5

6.1

-1.4

3.3

-5.3

-7.4

-16.1

4.1 


Annual Performance (Pooled Funds)

Mawer Pooled Funds

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

International Equity Pooled Fund

-

-

-

-

-

-

16.4

0.9

1.5

1.5 

International Equity Benchmark**

11.2

-43.4

31.8

7.8

-12.1

17.3

22.8

-4.9

-0.8

0.4 

Canadian Equity Pooled Fund

-43.2

54.0

21.2

-0.6

-

16.5

18.5

7.8

-15.9

21.6 

S&P/TSX Composite Index

24.7

-51.1

73.9

37.5

-10.1

7.1

5.2

-3.0

-23.6

25.4 

Balanced Pooled Fund

22.2

-31.7

37.9

16.7

1.1

14.8

13.8

3.9

-7.0

8.1 

Balanced Pooled Benchmark**

19.8

-31.3

34.1

15.1

-1.4

10.5

7.4

0.4

-11.5

11.4 

Canadian Bond Pooled Fund

22.4

-14.2

23.3

12.9

7.1

6.6

-7.6

-0.3

-13.5

5.3 

FTSE TMX Canada Universe Bond Index

22.3

-14.9

24.1

12.6

7.0

5.9

-7.4

-0.2

-13.7

5.3 

* The Mawer New Canada Fund is capped to new and existing mutual fund investors. Additional units of this fund are not available for purchase.

** Please refer to the benchmark history below.

Mutual funds are not guaranteed. Values can change frequently and past performance is not indicative of future performance. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual fund securities, including money market funds, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per share at a constant amount or that the full amount of your investment in the fund will be returned to you. Please read the prospectus before investing.

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. The rates of return are the historical simple rates for 1 year. They include changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.

Index returns are supplied by a third party – we believe the data to be accurate, however, cannot guarantee its accuracy.

 

Annualized Performance (Series O)

Total Gross Returns (USD$) as at March 31, 2017

Mawer Equity Funds

3-Mo

YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

International Equity Fund

8.8

8.8 6.2 3.8 4.0 6.3 7.9

5.2

International Equity Fund Benchmark**

7.9

7.9 11.7 1.2 0.5 4.5 5.8 1.1

U.S. Equity Fund

5.6

5.6 13.2 7.1 9.4 12.4 13.0

8.5

S&P 500 Index

6.1 6.1 17.2 9.2 10.4 13.1 13.3 7.5

Global Equity Fund

6.8 6.8 8.6 6.0 6.1 9.8 11.0 -

Global Equity Fund Benchmark**

6.9

6.9 14.6 5.2 5.5 8.7 9.3

-

Global Small Cap Fund

6.2

6.2 9.9 8.4 6.9 14.1 16.0 -

Global Small Cap Fund Benchmark**

6.0

6.0 19.0 6.2 4.6 7.8

8.9

-

Mawer Emerging Markets Equity Fund

-

- - - - - - -

MSCI Emerging Markets Index

-

- - - - - - -

Canadian Equity Fund

3.0

3.0 11.8 5.0 3.5 6.3 7.8 7.8

S&P/TSX Composite Index

3.0

3.0 15.0 2.6 -0.6 1.2 1.8 3.2

New Canada Fund (CLOSED)*

3.5

3.5 18.0 9.2 3.7 11.6 12.6 12.0

New Canada Fund Benchmark**

2.0

2.0 23.9 6.1 -3.4 -1.0 -1.8 1.9

Mawer Balanced Funds

3-Mo

 YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

Global Balanced Fund

4.9

4.9  4.0 3.0  2.7 -  -

Internal Global Balanced Benchmark**

 4.8

4.8 7.5 2.4 2.1 - - -

Balanced Fund***

4.4

4.4 5.5 3.1 2.6 4.5 5.8 6.5

Internal Balanced Benchmark****

3.8

3.8 8.8 2.4 0.7 1.8 2.7 4.1

Mawer Income Funds

3-Mo

 YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

Global Bond Fund

2.1

2.1

-3.7

-

-

-

-

-

Citi World Government Bond Index

1.6

1.6 -3.7 - - - - -

Canadian Bond Fund

1.9

1.9 -1.8 -1.3 -2.3 -3.6 -2.2 3.5

FTSE TMX Canada Universe Bond Index

1.8

1.8 -1.5 -1.4 -2.3 -3.5 -2.3 3.3

Canadian Money Market Fund

0.7

0.7 -2.6 -2.1 -5.6 -6.0 -5.0 -0.4

FTSE TMX 91 Day T-Bill Index

0.7 0.7 -2.5 -2.1 -5.5 -5.9 -4.9 -0.2


Annualized Performance (Pooled Funds)

Mawer Pooled Funds

3-Mo

YTD

1-Yr

2-Yr

3-Yr

4-Yr

5-Yr

10-Yr

International Equity Pooled Fund

8.8 8.8 5.8 3.4 3.7 6.0 - -

International Equity Fund Benchmark**

7.9

7.9 11.7 1.2 0.5 4.5 - -

Canadian Equity Pooled Fund

3.0

3.0 12.1 5.1 3.7 6.4 7.9 7.6

S&P/TSX Composite Index

3.0

3.0 15.0 2.6 -0.6 1.2 1.8 3.2

Balanced Pooled Fund

4.4

4.4 5.6 3.1 2.6 4.6 5.9 6.6

Balanced Pooled Benchmark**

3.8

3.8 8.9 2.5 0.7 1.9 2.7 4.1

Canadian Bond Pooled Fund

1.8

1.8

-1.8 -1.3 -2.3 -3.6 -2.2 3.4

FTSE TMX Canada Universe Bond Index

1.8

1.8 -1.5 -1.4 -2.3 -3.5 -2.3 3.3

* The Mawer New Canada Fund is capped to new and existing mutual fund investors. Additional units of this fund are not available for purchase.

** Please refer to the benchmark history below.

Mutual funds are not guaranteed. Values can change frequently and past performance is not indicative of future performance. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual fund securities, including money market funds, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per share at a constant amount or that the full amount of your investment in the fund will be returned to you. Please read the prospectus before investing.

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and are annualized compounded total returns for periods after 1 year. They include changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.

Index returns are supplied by a third party – we believe the data to be accurate, however, cannot guarantee its accuracy.

Benchmark History
Returns for periods greater than one year are annualized. 
Mawer Global Equity Fund Benchmark: Jan 1988: MSCI World (net)
  Oct 2016: MSCI ACWI (net)
Mawer Global Small Cap Fund Benchmark: Oct 2007: Russell Global Small Cap
  Oct 2016: ACWI Small Cap (net)
Internal Balanced: Jan 1985: 5% 91 Day Treasury Bill, 45% FTSE TMX Canada Universe Bond, 40% S&P/TSX Composite, 10% S&P 500, 0% MSCI EAFE (net)
  Oct 1994: 5% 91 Day Treasury Bill, 45% FTSE TMX Canada Universe Bond, 35% S&P/TSX Composite, 10% S&P 500, 5% MSCI EAFE (net)
  Jan 1999: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 35% S&P/TSX Composite, 10% S&P 500, 10% MSCI EAFE (net)
  Jan 2001: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 30% S&P/TSX Composite, 12.5% S&P 500, 12.5% MSCI EAFE (net)
  Jan 2002: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 25% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net)
  Jan 2012: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 15% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net), 7.5% BMO Weighted Small Cap (Blended), 7.5% Russell Global Small Cap
  Aug 2013: MSCI EAFE (net) returns is used to calculate the blended benchmark from inception. Previously, MSCI EAFE (gross) was used.
  Oct 2015: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% BMO Small Cap (blended), 15% S&P 500, 15% MSCI EAFE (net), 7.5% Russell Global Small Cap
  Oct 2016: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% S&P/TSX Small Cap, 15% S&P 500, 15% MSCI ACWI ex-USA (net), 7.5% ACWI Small Cap (net)
Internal Balanced Pooled: Jan 1985: 5% 91 Day Treasury Bill, 45% FTSE TMX Canada Universe Bond, 40% S&P/TSX Composite, 10% S&P 500, 0% MSCI EAFE (net)
  Oct 1994: 5% 91 Day Treasury Bill, 45% FTSE TMX Canada Universe Bond, 35% S&P/TSX Composite, 10% S&P 500, 5% MSCI EAFE (net)
  Jan 1999: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 35% S&P/TSX Composite, 10% S&P 500, 10% MSCI EAFE (net)
  Jan 2001: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 30% S&P/TSX Composite, 12.5% S&P 500, 12.5% MSCI EAFE (net)
  Jan 2002: 2.5% 91 Day Treasury Bill, 42.5% FTSE TMX Canada Universe Bond, 25% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net)
  Jan 2012: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 15% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net), 7.5% BMO Weighted Small Cap (Blended), 7.5% Russell Global Small Cap
  Aug 2013: MSCI EAFE (net) returns is used to calculate the blended benchmark from inception. Previously, MSCI EAFE (gross) was used.
  Oct 2016: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 15% S&P/TSX Composite, 15% S&P 500, 15% MSCI ACWI ex-USA (net), 7.5% S&P/TSX Small Cap, 7.5% ACWI Small Cap (net)
Mawer International Equity Fund Benchmark: "Jan 1988: MSCI EAFE (net)
  Oct 2016: MSCI ACWI ex-USA (net)
Internal Global Balanced: Jan 1988: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 60% MSCI World Net (Cdn$)
  Aug 2013: MSCI World Net (Cdn $) returns is used to calculate the blended benchmark from inception. Previously, MSCI World Gross (Cdn $) was used.
  Oct 2015: 20% FTSE TMX Canada Universe Bond, 20% Citi WGBI, 60% MSCI World Net (Cdn$)
  Oct 2016: 20% FTSE TMX Canada Universe Bond, 20% Citi WGBI, 60% MSCI ACWI (net)
(Internal Diversified Benchmark) Oct 1994: 5% 91 Day Treasury Bill, 45% FTSE TMX Canada Universe Bond, 35% S&P/TSX Composite, 10% S&P 500, 5% MSCI EAFE (net)
  Apr 1997: 5% 91 Day Treasury Bill, 40% FTSE TMX Canada Universe Bond, 25% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net)
  Jan 2011: 5% 91 Day Treasury Bill, 37.5% FTSE TMX Canada Universe Bond, 22.5% S&P/TSX Composite, 17.5% S&P 500, 17.5% MSCI EAFE (net)
  Jan 2012: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 15% S&P/TSX Composite, 15% S&P 500, 15% MSCI EAFE (net), 7.5% BMO Weighted Small Cap (Blended), 7.5% Russell Global Small Cap
  Aug 2013: MSCI EAFE (net) returns is used to calculate the blended benchmark from inception. Previously, MSCI EAFE (gross) was used.
  Oct 2015: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% BMO Small Cap (blended), 15% S&P 500, 15% MSCI EAFE (net), 7.5% Russell Global Small Cap
  Oct 2016: 5% 91 Day Treasury Bill, 30% FTSE TMX Canada Universe Bond, 5% Citi WGBI, 15% S&P/TSX Composite, 7.5% S&P/TSX Small Cap, 15% S&P 500, 15% MSCI ACWI ex-USA (net), 7.5% MSCI ACWI Small Cap (net)
Mawer New Canada Fund Benchmark: Jan 1988: BMO Weighted Small Cap (Blended)
  Oct 2016: S&P/TSX Small Cap
MSCI World: Net vs. Gross The "gross" and "net" refer to whether withholding taxes are considered with dividends.
  The gross return assumes the maximum dividend amount to reinvest into the index. Net refers to "net of withholding taxes",
  using the most conservative tax rate for institutional investors.
Russell Global Small Cap: This index was restated retroactively in October 2010. This was captured by us in January 2011.
  Please see related documents at L:\Marketing\DATABASE\Month-end reference files\Archived monthly and quarterly reports\2011\01 - January
O-Series Returns Gross of management fees and net of operating expenses
Pooled Fund Returns Gross of management fees and net of operating expenses
Index returns sourced from Citigroup, FTSE Russell, TD Securities, FactSet & BMO Capital Markets