Distributions

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

• Global Balanced Fund
• Balanced Fund
• Tax Effective Balanced Fund
• Global Bond Fund
• Canadian Bond Fund
• Canadian Money Market Fund

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 in excess of the fund’s management expense ratio, it will not trigger a distribution for that month.

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 be comprised 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.

View Mawer's FAQ on distributions here.

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2019 Year-End Distribution Dates

Record Date*: Tuesday, December 17^th
Payment Date: Wednesday, December 18^th

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

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2019 Estimated Distributions - Mawer Mutual Funds (Series A)

Note: The following distribution estimates provided by Mawer Investment Management Ltd. are approximations based on information available as of October 31, 2019 and are not guaranteed. These estimated distributions are subject to change prior to the actual distribution date on December 15, 2019 based on portfolio, market and shareholder activity, tax adjustments and other factors.

Mawer Mutual Fund	Total Income	Dividends	Total Distributions²	NAVPS (Oct 31)

¹ Interest Income includes any income for the six Mawer Mutual Funds that pay a monthly income distribution.

² Total Distribution is comprised of net income (Interest Income, Dividends, Foreign Income, Foreign Taxes) and net realized Capital Gains. If you are a unit holder of a Mawer Mutual Fund, or have placed a trade purchasing a Mawer Mutual Fund on the Record Date, you will receive the distribution on the Payment Date. See above for Year-End Distribution Dates.

Note: These numbers are for illustrative purposes only. For official tax information, please contact your investment team directly and/or learn more about distributions from our FAQ here.

 

2018 Year-End Distributions

Mawer Mutual Fund	Interest Income¹	Dividends	Foreign Income	Foreign Taxes	Capital Gains	Total Distributions²	NAVPS (Dec 14)
International Equity Fund	-	-	0.4447	(0.0488)	2.0937	2.4896	57.9830
U.S. Equity Fund	-	-	0.0466	(0.0071)	0.1371	0.1766	49.8349
Global Equity Fund	-	0.0108	0.1125	(0.0144)	0.2432	0.3521	27.5965
Global Small Cap Fund	-	0.0009	0.1135	(0.0111)	0.8791	0.9824	15.3989
Emerging Markets Equity Fund	-	-	0.1170	(0.0196)	-	0.0974	10.9543
Canadian Equity Fund	-	0.8940	-	-	-	0.8940	62.2827
New Canada Fund (CLOSED)	-	0.3015	-	-	1.3797	1.6812	68.6676
Global Balanced Fund	0.0344	0.0076	0.0938	(0.0099)	0.0794	0.2053	15.1095
Balanced Fund	0.0494	0.0996	0.2176	(0.0255)	0.0787	0.4198	28.0250
Tax Effective Balanced Fund	0.0749	0.1206	0.2554	(0.0277)	0.2926	0.7158	34.4602
Global Bond Fund	0.0113	-	0.0536	-	-	0.0649	10.3047
Canadian Bond Fund	0.2606	-	-	-	-	0.2606	12.5872

¹ Interest Income includes any income for the six Mawer Mutual Funds that pay a monthly income distribution.

² Total Distribution is comprised of net income (Interest Income, Dividends, Foreign Income, Foreign Taxes) and net realized Capital Gains. If you are a unit holder of a Mawer Mutual Fund, or have placed a trade purchasing a Mawer Mutual Fund on the Record Date, you will receive the distribution on the Payment Date. See above for Year-End Distribution Dates.

Note: These numbers are for illustrative purposes only. For official tax information, please contact your investment team directly and/or learn more about distributions from our FAQ here.

 

2017 Total Distributions

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

Total Distributions for 2017 (per unit) * As at December 31, 2017	Total Income*	Yearly Capital Gains*	Total Distributions*	NAVPS (Dec 15)
International Equity Fund	0.4312	0.4086	0.8398	62.3878
U.S. Equity Fund	0.0501	0.0000	0.0501	46.6636
Global Equity Fund	0.0629	0.0000	0.0629	27.0259
Global Small Cap Fund	0.1210	0.5273	0.6483	16.4990
Emerging Markets Equity Fund	0.0546	0.0000	0.0546	11.7315
Canadian Equity Fund	0.8151	0.0000	0.8151	68.2857
New Canada Fund (CLOSED)	0.5350	0.0000	0.5350	75.3590
Global Balanced Fund	0.1195	0.0000	0.1195	15.0325
Balanced Fund	0.3176	0.0000	0.3176	28.7747
Tax Effective Balanced Fund	0.3928	0.0000	0.3928	35.3865
Global Bond Fund	0.0797	0.0000	0.0797	10.2285
Canadian Bond Fund	0.2443	0.0000	0.2443	12.9998

2016 Total Distributions

Total Distributions for 2016 (per unit) * As at December 31, 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 (CLOSED)	0.5837	2.0887	2.6724	73.3259
Global Balanced Fund	0.1338	0.0000	0.1338	13.4233
Balanced Fund	0.2829	0.0000	0.2829	25.7708
Tax Effective Balanced Fund	0.3627	0.0000	0.3627	32.0426
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 31, 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 (CLOSED)	0.6853	9.5338	10.2191	63.7446
Global Balanced Fund	0.1324	0.0161	0.1485	13.6527
Balanced Fund	0.2776	0.2384	0.5160	25.3530
Tax Effective Balanced Fund	0.3528	0.3684	0.7212	31.4770
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

2014 Total Distributions

Total Distributions for 2014 (per unit)	Total Income	Yearly Capital Gains	Total Distributions	NAVPS
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 (CLOSED)	0.5805	4.3369	4.9174	74.2162
Global Balanced Fund	0.1299	0.0000	0.1299	11.8498
Balanced Fund	0.2697	0.0000	0.2697	23.1780
Tax Effective Balanced Fund	0.3586	0.2682	0.6267	28.9348
Canadian Bond Fund	0.2683	0.0075	0.2758	13.0556
Canadian Money Market Fund	0.3680	0.0000	0.3680	10.0000

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Global Balanced Fund

Date	Net Asset Value Per Share (NAVPS)	Income
January 31, 2019	15.38	0.0104
February 28, 2019	15.75	0.0028
March 29, 2019	16.14	0.0176
April 30, 2019	16.46	0.0457
May 31, 2019	16.15	0.0373
June 28, 2019	16.40	0.0156
July 31, 2019	16.31	0.1111
August 30, 2019	16.40	0.0094
September 30, 2019	16.46	0.0141
October 31, 2019	16.55	0.0067
Total		0.2707

Balanced Fund

Date	Net Asset Value Per Share (NAVPS)	Income
January 31, 2019	28.41	0.0034
February 28, 2019	29.03	0.0022
March 29, 2019	29.71	0.0026
April 30, 2019	30.36	0.0028
May 31, 2019	30.02	0.0030
June 28, 2019	30.52	0.0012
July 31, 2019	30.61	0.0044
August 30, 2019	30.80	0.0018
September 30, 2019	30.91	0.0028
October 31, 2019	30.96	0.0025
Total		0.0267

Tax Effective Balanced Fund

Date	Net Asset Value Per Share (NAVPS)	Income
January 31, 2019	35.04	0.0574
February 28, 2019	35.79	0.0167
March 29, 2019	36.58	0.0375
April 30, 2019	37.31	0.0674
May 31, 2019	36.84	0.0589
June 28, 2019	37.42	0.0415
July 31, 2019	37.39	0.1349
August 30, 2019	37.62	0.0207
September 30, 2019	37.72	0.0343
October 31, 2019	37.74	0.0326
Total		0.5019

Global Bond Fund

Date	Net Asset Value Per Share (NAVPS)	Income
January 31, 2019	10.35	0.0115
February 28, 2019	10.27	0.0062
March 29, 2019	10.48	0.0053
April 30, 2019	10.47	0.0050
May 31, 2019	10.65	0.0046
June 28, 2019	10.46	0.0035
July 31, 2019	10.39	0.0046
August 30, 2019	10.62	0.0053
September 30, 2019	10.49	0.0040
October 31, 2019	10.49	0.0040
Total		0.0540

Canadian Bond Fund

Date	Net Asset Value Per Share (NAVPS)	Income
January 31, 2019	12.81	0.0361
February 28, 2019	12.80	0.0218
March 29, 2019	13.07	0.0243
April 30, 2019	13.03	0.0245
May 31, 2019	13.22	0.0254
June 28, 2019	13.32	0.0222
July 31, 2019	13.31	0.0275
August 30, 2019	13.53	0.0242
September 30, 2019	13.38	0.0253
October 31, 2019	13.33	0.0252
Total		0.2565

Canadian Money Market Fund

Date	Net Asset Value Per Share (NAVPS)	Income
January 31, 2019	10.00	0.0003
February 28, 2019	10.00	0.0003
March 29, 2019	10.00	0.0009
April 30, 2019	10.00	0.0003
May 31, 2019	10.00	0.0003
June 28, 2019	10.00	0.0009
July 31, 2019	10.00	0.0003
August 30, 2019	10.00	0.0006
September 30, 2019	10.00	0.0009
October 31, 2019	10.00	0.0003
Total		0.0051

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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.

Past distributions are not indicative of future trends. The classification of distributions such as dividends, other income, capital gains etc. for each period will be reported only after the Fund's tax year end.  Please consult your tax professional or financial adviser for more information regarding your tax situation.

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)