Mawer Canadian Bond Fund
As at June 30, 2020
Crista Caughlin, CFA
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.
Investors seeking income and stability. Low to medium risk.
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.
|Mawer Canadian Bond Fund||7.7||4.7||3.6||4.0|
|FTSE Canada Universe Bond Index||7.9||5.3||4.2||4.6|
|Number of Funds in Morningstar Category Cdn Fixed Income||551||471||365||169|
|Number of Holdings1:||101|
|Yield to Maturity (%):||1.4|
|Modified Duration (Yrs):||8.6|
|Top 25 Holdings||% Weight|
|Canada Housing Trust No 1 1.90% Sep 15, 2026||5.3|
|Government of Canada 0.25% Aug 01, 2022||4.5|
|Province of Ontario 2.80% Jun 02, 2048||4.5|
|Canada Housing Trust 2.25% Dec 15, 2025||4.3|
|Canada Housing Trust No 1 2.55% Mar 15, 2025||4.1|
|Province of Ontario 2.60% Jun 02, 2025||3.1|
|Province of Quebec 3.10% Dec 01, 2051||3.0|
|Province of Ontario 4.65% Jun 02, 2041||2.8|
|Government of Canada 1.25% Mar 01, 2025||2.7|
|Province of Alberta 3.10% Jun 01, 2050||2.6|
|Province of Quebec 3.00% Sep 01, 2023||2.3|
|Canada Housing Trust No 1 2.65% Dec 15, 2028||2.0|
|Government of Canada 4.00% Jun 01, 2041||1.8|
|Province of Ontario 2.40% Jun 02, 2026||1.8|
|Province of Ontario 2.60% Jun 02, 2027||1.6|
Canadian Treasury Bill Sep 10, 2020
|Thomson Reuters Corp 2.239% May 14, 2025||1.6|
Scotia Capital Inc NHA MBS Pool 97516046 1.74% Jan 01, 2025
|Province of Saskatchewan 3.30% Jun 02, 2048||1.4|
Province of Ontario 4.60% Jun 02, 2039
|Province of Ontario 2.65% Dec 02, 2050||1.3|
|Province of Quebec 6.25% Jun 01, 2032||1.3|
|Apple Inc 2.513% Aug 19, 2024||1.2|
|Wells Fargo & Company 2.568% May 01, 2026 (c2025)||1.2|
|Province of British Columbia 4.95% Jun 18, 2040||1.2|
1 Fixed income holdings excluding cash.
Mawer Mutual Funds are managed by Mawer Investment Management Ltd. Mawer Mutual 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.
Index returns are supplied by a third party—we believe the data to be accurate, however, cannot guarantee its accuracy. Index returns are sourced from FTSE Russell, FactSet and BMO Capital Markets.
Performance returns for the Mawer Mutual Funds and benchmarks are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 3 month, YTD and 1 year periods, and annualized compounded total returns for periods after 1 year. Since Inception performance has been calculated from the month-end after the initial funding of the mutual fund in order to provide a comparison against a monthly benchmark.
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 Mutual Funds are managed by Mawer Investment Management Ltd.
The MSCI information may only be used for your internal use, may not be reproduced or disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. FTSE® is a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
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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