The following six Mawer Mutual Funds pay an income distribution monthly (on the last business day of the month): 

Please note: This distribution is comprised of any interest and dividends earned by the fund for that particular month. Should the fund not accrue income, it will not trigger a distribution for that month.

Global Balanced Fund
Balanced Fund
Tax Effective Balanced Fund
Global Bond Fund

Canadian Bond Fund
Canadian Money Market Fund

With the exception of the Mawer Canadian Money Market Fund, all of the Mawer Mutual Funds pay a year-end distribution. This distribution payout will comprise of net income and net realized capital gains. In December, the Mawer Canadian Money Market Fund will pay the normal monthly distribution at month-end.

2017 Year-End Distribution Dates:

Record Date* is Tuesday, December 19th
Payment date is Wednesday, December 20th

*If you are a unit holder of a Mawer fund, or have placed a trade purchasing a Mawer Fund on this date, you will receive the distribution.

View Mawer's FAQ on distributions here.


2016 Total Distributions

Note: These numbers are for illustrative purposes only. For official tax information, please contact your Investment Advisor.

Total Distributions for 2016 (per unit)

* As at December 15, 2016

Total Income*Yearly Capital Gains*Total Distributions*NAVPS
(Dec 20)
International Equity Fund 0.3845 1.0776 1.4621 49.7671
U.S. Equity Fund 0.0190 0.0000 0.0190 40.4480
Global Equity Fund 0.1017 0.0000 0.1017 22.6321
Global Small Cap Fund 0.1378 0.0000 0.1378 13.3940
Canadian Equity Fund 0.7273 0.0000 0.7273 63.2464
New Canada Fund 0.5837 2.0887 2.6725 73.3259
Balanced Fund 0.2829 0.0000 0.2829 25.7708
Tax Effective Balanced Fund 0.0744 0.0000 0.0744 32.0426
Global Balanced Fund 0.0265 0.0000 0.0265 13.4233
Global Bond Fund 0.0046 0.0000 0.0046 10.0712
Canadian Bond Fund 0.0080 0.0852 0.0932 12.8170
2015 Total Distributions

Total Distributions for 2015 (per unit)

* As at December 15, 2015

Total Income*Yearly Capital Gains*Total Distributions*NAVPS
(Dec 22)
International Equity Fund 0.3917 0.0947 0.4864 53.5517
U.S. Equity Fund 0.1222 2.2978 2.4200 37.9953
Global Equity Fund 0.1349 0.0000 0.1349 22.7482
Global Small Cap Fund 0.0805 0.0361 0.1166 13.8882
Canadian Equity Fund 0.6764 2.5087 3.1851 55.2737
New Canada Fund 0.6853 9.5338 10.2191 63.7446
Balanced Fund 0.2776 0.2384 0.5160 25.3530
Tax Effective Balanced Fund 0.3527 0.3684 0.7211 31.4770
Global Balanced Fund 0.1323 0.0161 0.1484 13.6527
Global Bond Fund 0.0042 0.0000 0.0042 10.9407
Canadian Bond Fund 0.2655 0.0510 0.3165 13.1198
Canadian Money Market Fund 0.0044 0.0000 0.0044 10.0000

Note: These numbers are for illustrative purposes only. For official tax information, please contact your Investment Advisor.

2014 Total Distributions
Total Distributions for 2014 (per unit)Total IncomeYearly Capital GainsTotal DistributionsNAVPS
International Equity Fund 0.3547 0.0834 0.4381 44.4970
U.S. Equity Fund 0.1023 0.6695 0.7718 33.4752
Global Equity Fund 0.0625 0.0000 0.0625 18.4445
Global Small Cap Fund 0.0476 0.0133 0.0609 10.6357
Canadian Equity Fund 0.6268 0.0000 0.6268 56.1766
New Canada Fund 0.5805 4.3369 4.9174 74.2162
Balanced Fund 0.2697 0.0000 0.2697 23.1780
Tax Effective Balanced Fund 0.3586 0.2682 0.6267 28.9348
Global Balanced Fund 0.1299 0.0000 0.1299 11.8498
Canadian Bond Fund 0.2683 0.0075 0.2758 13.0556
Canadian Money Market Fund 0.3680 0.0000 0.3680 10.000

Note: These numbers are for illustrative purposes only. For official tax information, please contact your Investment Advisor.

2013 Total Distributions
Total Distributions for 2013 (per unit)Total IncomeYearly Capital GainsTotal DistributionsNAVPS
International Equity Fund 0.3328 0.0000 0.3328 41.2171
U.S. Equity Fund 0.1363 0.0000 0.1363 28.4505
Global Equity Fund 0.0452 0.0423 0.0875 16.3651
Global Small Cap Fund 0.1017 0.1353 0.2370 9.8055
Canadian Equity Fund 0.6754 0.0000 0.6754 50.7544
New Canada Fund 0.3828 1.3741 1.7568 70.3334
Balanced Fund 0.2434 0.0000 0.2432 21.1829
Tax Effective Balanced Fund 0.3406 0.0000 0.3406 26.4543
Global Balanced Fund 0.0084 0.0000 0.0084 10.8025
Canadian Bond Fund 0.2385 0.0144 0.2529 12.4332
Canadian Money Market Fund 0.0400 0.0000 0.0400 10.0000

Note: These numbers are for illustrative purposes only. For official tax information, please contact your Investment Advisor.


 

Global Balanced Fund
DateNet Asset Value Per Share
(NAVPS)
Income
January 31, 2017 13.42 0.0018
February 28, 2017 13.82 0.0040
March 31, 2017 13.99 0.0092
April 28, 2017 14.49 0.0159
May 31, 2017 14.75 0.0179
June 30, 2017 14.32 0.0165
July 31, 2017 14.00 0.0098
August 31, 2017 14.09 0.0060
September 30, 2017 14.18 0.0189
Total 0.1000
Balanced Fund
DateNet Asset Value Per Share
(NAVPS)
Income
January 31, 2017 25.84 0.0027
February 28, 2017 26.45 -
March 31, 2017 26.81 -
April 28, 2017 27.69 -
May 31, 2017 28.03 -
June 30, 2017 27.43 -
July 31, 2017 26.97 -
August 31, 2017 27.10 -
September 30, 2017 27.33 -
Total 0.0027
Tax Effective Balanced Fund
DateNet Asset Value Per Share
(NAVPS)
Income
January 31, 2017 32.09 0.0387
February 28, 2017 32.84 0.0135
March 31, 2017 33.25 0.0281
April 28, 2017 34.29 0.0279
May 31, 2017 34.65 0.0524
June 30, 2017 33.88 0.0331
July 31, 2017 33.31 0.0318
August 31, 2017 33.45 0.0146
September 30, 2017 33.69 0.0322
Total  0.2723
Canadian Bond Fund
DateNet Asset Value Per Share
(NAVPS)
Income
January 31, 2017 12.86 0.0317
February 28, 2017 12.96 0.0188
March 31, 2017 12.98 0.0205
April 28, 2017 13.15 0.0195
May 31, 2017 13.22 0.0199
June 30, 2017 13.01 0.0196
July 31, 2017 12.74 0.0201
August 31, 2017 12.90 0.0203
September 30, 2017 12.69 0.0195
Total 0.1899
Global Bond Fund
DateNet Asset Value Per Share
(NAVPS)
Income
January 31, 2017 10.07 0.0109
February 28, 2017 10.26 0.0109
March 31, 2017 10.33 0.0070
April 28, 2017 10.67 0.0066
May 31, 2017 10.68 0.0037
June 30, 2017 10.28 0.0045
July 31, 2017 10.06 0.0186
August 31, 2017 10.22 0.0002
September 30, 2017 10.02 0.0094
Total 0.0718

The Mawer Global Bond Fund was launched May 28, 2015.
Information for new mutual funds cannot be reported for its first year.

Canadian Money Market Fund
DateNet Asset Value Per Share
(NAVPS)
Income
January 31, 2017 10.00 0.0001
February 28, 2017 10.00 -
March 31, 2017 10.00 -
April 28, 2017 10.00 -
May 31, 2017 10.00 -
June 30, 2017 10.00 -
July 31, 2017 10.00 0.0001
August 31, 2017 10.00 -
September 30, 2017 10.00 0.0001
Total  0.0003

Mutual fund distributions are by default re-invested, thereby purchasing additional units. A unitholder can opt to receive their distribution paid in cash.

The net effect of reinvested distributions is that the price of the fund will decline by the amount of the distribution, and additional units will be acquired by the unitholder which are equivalent in value to the amount of the distribution. The difference between the pre- and post-distribution fund price may be slightly different from the value of the distribution, due to fluctuations in the market value of the fund's holdings.

Example:
Pre-distribution holdings of 100 units in a fund that is valued at $10.00/unit for a total value of $1,000
The fund pays a distribution of $0.10/unit so the price will drop to $9.90 following the distribution ($990)

1.01 units in the fund ($0.10/$9.90) will be re-invested so the value of your investment remains unchanged (101.01 units x $9.90/unit = $1,000)

Bayes for days: What to do with signal

We need to ask: what is the best way to deal with new information? Fortunately, there is a tool that can help us with this problem: Bayes’ Theorem.

Read the full Discussion Paper

 

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