Mawer Canadian Bond Fund Profile

  • As at September 30, 2017
  • Morningstar RatingTM3Stars RED3
  • Fund Manager:
    Michael Crofts, CFA
    James Redpath, CFA
  • Fund Inception Date: June 21, 1991
  • Fund Net Asset Value: $2,121.8 million
  • Total Net Asset Value (Series A): $131.6 million
  • Net Asset Value Per Unit: $12.69
  • RRSP Eligibility: Yes
  • Management Expense Ratio: 0.69% (as at Dec 31, 2016)
  • Fund Code: MAW100

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What does this Fund Invest In?

The Fund invests primarily in bonds and debentures of Canadian government and corporate issuers. Treasury bills or short-term investments, not exceeding three years to maturity, may still be used from time to time.

Investor Suitability

Investors seeking income and stability. Low to medium risk.

Investment Strategy

Portfolios are all investment grade. Core positions in Government of Canada bonds are established based on the shape of the yield curve and level of interest rates. To add value, we construct enhanced positions in provincial, municipal and corporate bonds based on yield spread, security selection, and trading strategies.


Net Performance*

 

1-Yr

3-Yr

5-Yr

10-Yr

Mawer Canadian Bond Fund

-4.1

2.0

1.8

4.0

FTSE TMX Canada Universe
Bond Index

-3.0

2.8

2.7

4.7

Morningstar Rating

3

3

3

3

Number of Funds in Morningstar Category Cdn Fixed Income

456

456

371

149


Number of Holdings1:

91

Yield to Maturity:

2.5%

Modified Duration (yrs):

7.4


Top 25 Holdings

% Weight

Government Of Canada 1.0% 01-jun-2027

5.7

Canada Housing Trust No. 1 1.25% 15-jun-2021

4.0

Government Of Canada 3.5% 01-dec-2045

3.7

Government Of Canada 4.0% 01-jun-2041

3.6

Province Of Quebec 3.0% 01-sep-2023

3.3

Province Of Ontario 4.65% 02-jun-2041

3.2

Canada Housing Trust No. 1 2.55% 15-mar-2025

3.2

Canada Housing Trust No. 1 1.9% 15-sep-2026

3.1

Province Of British Columbia 3.3% 18-dec-2023

2.6

Province Of British Columbia 2.85% 18-jun-2025

2.4

Government Of Canada 1.5% 01-jun-2023

2.4

Government Of Canada 2.75% 01-jun-2022

2.3

Province Of Quebec 3.5% 01-dec-2045

2.3

Province Of Alberta 2.55% 15-dec-2022

2.0

Toronto-dominion Bank 2.621% 22-dec-2021

1.8

Province Of Ontario 3.5% 02-jun-2024

1.6

Province Of Ontario 2.6% 02-jun-2025

1.6

Province Of Ontario 1.95% 27-jan-2023

1.6

Canada Housing Trust No. 1 Frn 15-mar-2022

1.5

Canada Housing Trust No. 1 Frn 15-sep-2021

1.3

Royal Bank Of Canada 2.86% 04-mar-2021

1.2

Psp Capital, Inc. 2.09% 22-nov-2023

1.2

Province Of Alberta 2.35% 01-jun-2025

1.2

Royal Bank Of Canada 1.59% 23-mar-2020

1.2

Hydro One, Inc. 2.77% 24-feb-2026

1.1

1   Equity holdings, excluding cash.

*   Mawer Fund returns are reported in Canadian dollars and calculated after management fees and operating expenses have been deducted. In comparison, index returns do not incur management fees or operating expenses.

Read Full Disclosure

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts  and the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including 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. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mawer Funds are managed by Mawer Investment Management Ltd.

Additionally for money market funds, the performance data provided assumes reinvestment of distributions only 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 fund securities 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 security at a constant amount or that the full amount of your investment in the fund will be returned to you.

© 2016 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.

The Morningstar Rating, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the top 22.5% receiving 4 stars; a fund in the middle 35% receiving 3 stars; and a fund in the bottom 22.5% receiving 2 stars. The Overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. Overall ratings are adjusted where a fund has less than 5 or 10 years of history. For greater detail see www.morningstar.ca.

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Email: investing@mawer.com