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Mawer Canadian Equity Fund
As at March 31, 2026
Morningstar Rating™
(As at Mar 31, 2026)
Fund Managers:
Vijay Viswanathan, CFA, MBA
Mark Rutherford, CFA
Series Start Date:
Jan 21, 1991
Fund Net Asset Value:
$4,085.60 million
Total Net Asset Value (Series A):
$747.00 million
Net Asset Value Per Unit:
$109.09
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.15% (as at 31 Dec 2025)
Trading Expense Ratio†:
0.01% (as at 31 Dec 2025)
Fund Code:
MAW106
Related Links
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Banks, Barrels, and Gold: Canadian Equity in a Risky World | EP 205
January 12, 2026
19 Mins
Performance
Performance
Fund Documents
Fund Documents
Prices
Prices
Fund Commentary
Fund Commentary
What Does this Fund Invest In?
The Fund invests primarily in securities of larger capitalization Canadian companies. Treasury bills or short-term investments not exceeding three years to maturity will also be used.
Investor Suitability
Investors seeking long-term, above-average growth who can tolerate equity volatility. Medium risk.
Investment Strategy
In order to achieve its investment objectives, the Manager systematically creates a broadly diversified portfolio of wealth-creating companies with excellent management teams bought at discounts to their intrinsic values. The Manager employs a highly disciplined, research-driven, bottom-up process and long-term holding period to allow for investor recognition or corporate growth, and to minimize transaction costs.
Top Holdings
Top HoldingsWeight (%)
Toronto-Dominion Bank/The5.5
Royal Bank of Canada5.2
Agnico Eagle Mines Ltd4.3
Franco-Nevada Corp4.3
Brookfield Corp4.2
Canadian Natural Resources Ltd3.8
AltaGas Ltd3.6
Shopify Inc3.5
Finning International Inc3.3
Suncor Energy Inc3.3
Gibson Energy Inc3.1
Canadian Pacific Kansas City Ltd3.1
iA Financial Corp Inc2.9
Fairfax Financial Holdings Ltd2.6
Manulife Financial Corp2.5
Granite Real Estate Investment Trust2.5
Cash and Cash Equivalents2.5
Bank of Montreal2.5
Fortis Inc/Canada2.3
Bank of Nova Scotia/The2.2
Sprott Inc2.0
CCL Industries Inc2.0
Toromont Industries Ltd2.0
Stella-Jones Inc1.7
TMX Group Ltd1.7
Net Performance‡
As at March 31, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer Canadian Equity Fund20.314.310.99.4
S&P/TSX Composite Index34.821.215.212.6
Morningstar Rating™
2
2
2
3
Number of Funds in Morningstar Category
595
559
479
333
Number of Holdings§45
Equity Sector Weights
Portfolio
S&P/TSX Composite Index
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
0.0
2.0
1.6
3.1
2.2
3.3
12.7
18.4
34.3
31.1
0.0
0.3
13.9
10.2
7.4
7.3
14.5
19.3
3.5
1.4
7.2
3.7
2.5
0.0
Related Links
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Banks, Barrels, and Gold: Canadian Equity in a Risky World | EP 205
January 12, 2026
19 Mins
Disclaimers
* Management expense ratio (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily average net assets during the period.
† The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during the year.
‡ Performance has been presented for the A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
§ Equity holdings excluding cash.