Mawer Global Bond Fund Profile

  • As at June 30, 2017
  • Morningstar RatingTM: N/A1
  • Fund Managers:
    James Redpath, CFA
    Michael Crofts, CFA
  • Fund Inception Date: May 28, 2015
  • Fund Net Asset Value: $239.5 million
  • Total Net Asset Value (Series A): $11.4 million
  • Net Asset Value Per Unit: $10.27
  • RRSP Eligibility: Yes
  • Management Expense Ratio: 0.75% (as at Dec 31, 2016)
  • 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

-2.3 - - -

Citi World Government Bond Index

-4.1 - - -

Number of Holdings2:

30

Yield to Maturity:

1.1%

Modified Duration (Yrs):

3.8



Top 25 Holdings

% Weight

Japanese Yen

21.1

Euro

8.1

Government Of The USA 2.125% 15-may-2025

7.6

Government Of The USA 2.75% 15-nov-2023

6.1

Government Of The USA 1.75% 15-may-2022

5.6

Government Of The USA 1.5% 31-mar-2019

4.7

European Investment Bank 1.375% 15-sep-2021

4.7

Province Of Ontario 1.875% 21-may-2024

4.6

Government Of United Kingdom 1.5% 22-jan-2021

3.7

Government Of United Kingdom 1.5% 22-jul-2026

3.4

Government Of The USA 1.375% 31-mar-2020

3.3

Province Of Quebec 2.5% 20-apr-2026

2.5

Government Of The USA 2.5% 15-feb-2046

2.4

Province Of Quebec 2.25% 17-jul-2023

2.3

Government Of Mexico 6.5% 09-jun-2022

2.2

Int'l Bank for Reconstruction & Dev. 0.125% 23-oct-2020

1.5

European Investment Bank 3.5% 14-jan-2021

1.5

Government Of Norway 1.75% 13-mar-2025

1.4

Government Of Singapore 2.75% 01-jul-2023

1.4

Government Of Sweden 1.5% 13-nov-2023

1.4

Province Of Ontario 4.0% 03-dec-2019

1.4

Government Of The USA 0.75% 15-apr-2018

1.3

Province Of Quebec 5.0% 29-apr-2019

1.1

Government Of Australia 2.75% 21-apr-2024

1.0

Province Of Ontario 2.5% 10-sep-2021

1.0

1   Funds with less than three years of performance history are not rated.

2  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

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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