Fund Profiles

Mawer Global Bond Fund Profile

  • As at September 30, 2016
  • Morningstar RatingTM: N/A*
  • Fund Managers:
    James Redpath, CFA
    Michael Crofts, CFA
  • Fund Inception Date: June 15, 2015
  • Fund Net Asset Value: $276.7 million
  • Total Net Asset Value (Series A): $13.1 million
  • Net Asset Value Per Unit: $10.70
  • RRSP Eligibility: Yes
  • Management Expense Ratio: 0.75% (as at Dec 31, 2015)
  • Fund Code: MAW140

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What does this Fund Invest In?

The Fund invests primarily in investment grade government and government related fixed income securities denominated in local and foreign currencies around the world.

Investor Suitability

The Fund is suitable for investors seeking income and global currency, country and yield diversification at a medium risk. 

Investment Strategy

The Fund is broadly diversified across many currencies, countries and yield curves. The research process is focused on identifying and managing risk. Similar to a Central Bank, an emphasis is placed on reserve currencies and countries because they tend to hold their store of value in periods of uncertainty. Within the desired currency and country, securities are selected and actively traded with a focus on positive real returns. The Fund’s currency positions are unhedged which can increase the resilience of a balanced portfolio through additional diversification.


Net Performance

 

1-Yr

3-Yr

5-Yr

10-Yr

Mawer Global Bond Fund

1.2 - - -

Citi World Government Bond Index

7.5 - - -

Number of Holdings1:

33

Yield to Maturity:

1.0%

Modified Duration (Yrs):

5.7



Top 25 Holdings

% Share

Government Of The United States Of America 1.75% 15-may-2022

8.7

Province Of Ontario 1.875% 21-may-2024

7.8

Government Of The United States Of America 2.125% 15-may-2025

6.4

Government Of The United States Of America 2.75% 15-nov-2023

6.0

Government Of The United States Of America 1.5% 31-mar-2019

5.8

Japanese Yen

5.3

Government Of The United States Of America 0.75% 15-apr-2018

4.9

Government Of Norway 1.75% 13-mar-2025

4.4

Province Of Quebec 2.25% 17-jul-2023

3.9

Government Of The United States Of America 2.5% 15-feb-2046

3.6

Government Of The United States Of America 1.375% 31-mar-2020

3.2

Government Of Canada 0.0% 01-dec-2016

3.2

Government Of Norway 2.0% 24-may-2023

3.1

Government Of Canada 0.0% 15-dec-2016

3.0

Government Of United Kingdom 1.5% 22-jan-2021

2.7

Province Of Quebec 2.5% 20-apr-2026

2.7

Government Of United Kingdom 1.5% 22-jul-2026

2.6

Government Of Sweden 1.0% 12-nov-2026

2.5

Government Of Australia 2.75% 21-apr-2024

2.2

Government Of Sweden 1.5% 13-nov-2023

1.9

Government Of Mexico 6.5% 09-jun-2022

1.9

Government Of New Zealand 2.75% 15-apr-2025

1.7

Government Of The United States Of America 0.25% 15-jan-2025

1.7

Government Of Singapore 2.75% 01-jul-2023

1.3

European Investment Bank 3.5% 14-jan-2021

1.2


1 Fixed Income holdings, excluding cash.

* Funds with less than three years of performance history are not rated. The Mawer Global Bond Fund was launched May 28, 2015.

 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.

 The Fund’s MER is made up of the management fee and operating expenses. The Fund’s annual management fee is 0.60% of the Fund’s value. Because this fund is new, its operating expenses are relatively large in comparison to the fund’s assets. The management of Mawer has committed to subsidize the operating expenses of the Fund from its inception so that the MER is no more than 0.75%. Management plans to review the subsidy periodically with the intent to remove the subsidy once the MER of the Fund has stabilized from asset growth at approximately 0.75%. After the subsidized period ends the actual MER for the Fund may be higher than 0.75%.

 

 

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.

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