Fund Profiles

Mawer Canadian Bond Fund Profile

  • As at March 31, 2017
  • Morningstar RatingTM4Stars RED
  • Fund Manager:
    Michael Crofts, CFA
    James Redpath, CFA
  • Fund Inception Date: June 21, 1991
  • Fund Net Asset Value: $1,993.6 million
  • Total Net Asset Value (Series A): $130.3 million
  • Net Asset Value Per Unit: $12.98
  • 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

0.6

3.4

2.8

4.1

FTSE TMX Canada Universe
Bond Index

1.5

4.1

3.5

4.8


Number of Holdings1:

86

Yield to Maturity:

2.0%

Modified Duration (yrs):

7.3


Top 25 Holdings

% Weight

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

5.0

Government Of Canada 1.0% 01-jun-2027

5.0

Province Of Quebec 3.0% 01-sep-2023

5.0

Government Of Canada 1.5% 01-jun-2023

4.2

Government Of Canada 3.5% 01-dec-2045

4.0

Government Of Canada 4.0% 01-jun-2041

3.9

Province Of British Columbia 2.85% 18-jun-2025

3.2

Province Of Ontario 2.85% 02-jun-2023

2.8

Province Of British Columbia 3.3% 18-dec-2023

2.7

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

2.6

Government Of Canada 2.75% 01-jun-2022

2.5

Province Of Ontario 4.65% 02-jun-2041

2.2

Province Of Alberta 2.55% 15-dec-2022

2.1

Province Of Quebec 3.5% 01-dec-2045

1.9

Toronto-dominion Bank 2.621% 22-dec-2021

1.9

Province Of Ontario 3.5% 02-jun-2024

1.7

Province Of Ontario 2.6% 02-jun-2025

1.7

Province Of Ontario 1.95% 27-jan-2023

1.6

Canada Housing Trust No. 1 Frn 15-sep-2019

1.5

Royal Bank Of Canada 2.86% 04-mar-2021

1.3

Manufacturers Life Insurance Co. 2.64% 15-jan-2025

1.2

Royal Bank Of Canada 1.59% 23-mar-2020

1.2

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

1.1

Loblaw Companies Limited 4.86% 12-sep-2023

1.1

Cppib Capital Inc. 1.1% 10-jun-2019

1.1

Total

62.5

1   Equity holdings, excluding cash.

*   Mawer Fund returns are 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

This document is for information purposes only. Before investing, please consult the simplified prospectus, available at www.sedar.com, and the Fund Facts. Both documents provide additional information about the funds.

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 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 or that the full amount of your investment will be returned to you.)

Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 1 year period 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.

© 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) in 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.

Morningstar Ratings reflect performance as of 03/31/2017 and are subject to change monthly. The ratings are calculated from a fund’s 3,5,and 10-year returns measured against 91-day Treasury bill and peer group returns. The top 10% of the funds in a category get five stars. The Overall Rating is a weighted combination of the 3,5 and 10-year ratings. For greater detail see www. morningstar.ca

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