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Mawer Tax Effective Balanced Fund

What Does The Fund Invest In?

Mawer Tax Effective Balanced FundThe fund may invest up to all of its assets in equity and equity-related securities, treasury bills, short-term notes, debentures and bonds from Canadian, US and international issuers or in other funds managed by Mawer. They can be of any size and from any industry.

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Fund Details - Class A

The information summarized below is for the quarter ended December 31, 2013.

Fund Manager:
Craig Senyk, CFA
Fund Code:
Inception Date: January 8, 1988
Fund Net Asset Value: $375.4 million
Total Net Asset Value (Class A): $258.3 million
Net Asset Value Per Unit: $26.65
RRSP Eligibility: Yes
Management Expense Ratio: 0.98% (as at Dec 31, 2013)


Top 10 Holdings


% Share

Mawer Global Small Cap Fund Class O 9.0
Canadian Treasury Bill Feb 13, 2014 3.2
Government of Canada 2.50% Jun 01, 2024 2.2
Government of Canada 2.50% Jun 01, 2015 1.6
Province of Quebec 3.00% Sep 01, 2023 1.6
Canada Housing Trust No 1 1.70% Dec 15, 2017 1.6
Canadian Treasury Bill Jan 16, 2014 1.6
Province of Ontario 3.45% Jun 02, 2045 1.3
Government of Canada 4.00% Jun 01, 2041 1.2
Canadian Treasury Bill Jan 03, 2014 0.9
Number of Holdings: 289
Number of Countries:   28

Asset Mix


Equity Sector Weights

Asset Mix - Mawer Canadian Balanced Retirement Savings Fund


Performance (Net)


1-yr 3-Yr 5-Yr
Mawer Tax Effective Balanced Fund
20.1 11.0 12.1 7.6
Internal Tax Effective Balanced Benchmark* 14.6 7.6 9.1 6.2

* 5% DEX 91 Day T-Bills, 35% DEX Universe Bond, 15% S&P/TSX Composite, 15% S&P 500 (CAD), 15% MSCI EAFE ND (CAD), 7.5% BMO Small Cap (Blended, Weighted) and 7.5% Russell Global Small Cap (CAD)

Investor Suitability

Investors seeking long-term growth at medium risk with tax effectiveness.

Investment Strategy**

The Manager’s traditional equity approach of systematically buying wealth creating companies at a discount to intrinsic value is used to construct the equity part of the portfolio. The fixed income part of the portfolio follows our traditional fixed income approach of focusing on sector allocation, security selection, and trading strategies. For asset mix, the Manager analyzes which combination of asset classes is most likely to offer the most attractive risk/return characteristics within a medium to long-term time frame, and carries out asset mix changes gradually to reduce risk. The manager minimizes taxes through the application of a tax overlay strategy, with the objective to minimize taxable distributions.

This document is for information purposes only.  Please consult the Simplified Prospectus or Fund Fact before investing. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Total net returns are net of all fees and expenses of the funds.  These returns are the historical annualized compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Index returns do not include fees, commissions, and transaction costs.

**  This is a synopsis of the actual Investment Strategy. Please see the Simplified Prospectus for the complete Investment Strategy.

© 2013 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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