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.
Mawer Canadian Bond Fund
As at December 31, 2022- Morningstar Rating™
- (as at Dec 31, 2022)
- Fund Managers:
-
Crista Caughlin, CFA
- Series Start Date:
- Jun 21, 1991
- Fund Net Asset Value:
- $3,760.9 million
- Total Net Asset Value (Series A):
- $121.0 million
- Net Asset Value Per Unit:
- $11.28
- RRSP Eligibility:
- Yes
- Management Expense Ratio * :
- 0.68% (as at Dec 31, 2022)
- Fund Code:
- MAW100
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 risk.
Investment Strategy
In order to achieve its investment objectives, the Manager positions the Fund along points on the yield curve which offers the most attractive yields relative to the duration of the security, maintaining a bias for the part of the curve that offers attractive characteristics in the context of the central bank policy. The Fund will typically overweight sectors that provide attractive yields relative to Government of Canada Bonds with an emphasis on investment-grade corporate, provincial and municipal bonds. The Manager will utilize in-house, bottom-up credit analysis and will monitor bond markets in an effort to identify mispriced securities.
Top Holdings
| Top Holdings | Weight (%) |
|---|---|
| Canada Housing Trust No 1 1.95% Dec 15, 2025 | 12.9 |
| Province of Ontario 4.65% Jun 02, 2041 | 4.3 |
| Government of Canada Dec 01, 2045 | 3.5 |
| Province of Quebec 3.1% Dec 01, 2051 | 3.5 |
| Canadian Pacific Railway Co 2.54% Feb 28, 2028 | 3.2 |
| Bank of Nova Scotia 2.95% Mar 08, 2027 | 3.1 |
| Toronto-Dominion Bank 2.667% Sep 09, 2025 | 2.9 |
| Province of Quebec 1.5% Sep 01, 2031 | 2.7 |
| Government of Canada Dec 01, 2032 | 2.7 |
| Royal Bank of Canada 3.369% Sep 29, 2025 | 2.6 |
| Province of Ontario 4.6% Jun 02, 2039 | 2.4 |
| Thomson Reuters Corp 2.239% May 14, 2025 | 2.3 |
| JPMorgan Chase & Co 1.896% Mar 05, 2027 | 2.3 |
| Government of Canada Sep 01, 2025 | 2.1 |
| Province of Quebec 6.25% Jun 01, 2032 | 1.5 |
| Toronto-Dominion Bank 2.496% Dec 02, 2024 | 1.5 |
| Province of Ontario 3.5% Jun 02, 2043 | 1.4 |
| Province of Ontario 1.75% Sep 08, 2025 | 1.3 |
| Government of Canada Jun 01, 2037 | 1.3 |
| Province of Alberta 1.65% Jun 01, 2031 | 1.2 |
| Hydro One Inc 4.91% Jan 27, 2028 | 1.1 |
| Bank of Montreal 3.65% Apr 01, 2027 | 1.0 |
| Province of Ontario 2.65% Dec 02, 2050 | 1.0 |
| North West Redwater Partnership 2.8% Jun 01, 2031 | 1.0 |
Bond Sector Weights
Disclaimers
- * Management expense ration (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily net assets during the period.
- † Performance has been presented for the A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
- ‡ Fixed Income holdings, excluding cash.
- § The expected annual total return if all portfolio holdings are held to maturity.
- ‖ The estimated percentage price change of the portfolio given a change in yields.
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.
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