Mawer Global Balanced Fund

As at December 31, 2018

Morningstar RatingTM: (as at Dec 31, 2018)
Fund Inception Date: July 2, 2013
Fund Net Asset Value: $939.0 million
Total Net Asset Value (Series A): $303.4 million
Net Asset Value Per Unit: $15.13
RRSP Eligibility: Yes
Management Expense Ratio: 1.09% (as at Dec 31, 2018)
Trading Expense Ratio1: 0.03% (as at Dec 31, 2018)
Fund Code: MAW130

What does this Fund Invest In?

The Fund invests primarily in equity and equity-related securities and fixed-income securities from around the world. The Fund may invest in any part of the capital structure in both public and private entities.

Investor Suitability

Investors seeking long-term growth at medium risk.

Investment Strategy

A bottom up approach is taken to construct this Fund. The equities are chosen on a global basis and are coupled with the stability of investment grade Canadian and Global bonds. Risk is further managed through extensive diversification across many industries, countries, and currencies.


Net Performance

1-Yr 3-Yr 5-Yr 10-Yr Since Inception
Mawer Global Balanced Fund 3.5 4.5 7.9 - 9.0
Internal Global Balanced Benchmark 1.3 4.3 7.4 - 8.5
Morningstar Rating 5 5 5 - N/A
Number of Funds in Morningstar Category Global Equity Balanced 1082 850 574 - N/A

Number of Holdings2: 71
Number of Countries2: 19


Top 25 Holdings1% Weight
Mawer Canadian Bond Fund Series O 25.0
Mawer Global Bond Fund Series O 8.7
Cash & Cash Equivalents 8.3
JPMorgan Chase & Co. 2.3
Alphabet Inc. Class C 2.2
S&P Global, Inc. 2.1
Aon plc 2.1
Wolters Kluwer NV 2.0
Becton, Dickinson and Company 2.0
Air Liquide SA 1.9
Visa Inc. Class A 1.8
Croda International Plc 1.5
Novartis AG Sponsored ADR 1.5
Union Pacific Corporation 1.5
DBS Group Holdings Ltd 1.4
Deutsche Boerse AG 1.4
Johnson & Johnson 1.2
Verizon Communications Inc. 1.1
Seven & I Holdings Co., Ltd. 1.1
Roche Holding Ltd Genusssch. 1.0
CSX Corporation 1.0
AMETEK, Inc. 1.0
AIA Group Limited 0.9
Linde plc 0.9
UPL Limited 0.9

1 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.

2 Number of Holdings: Fund level exposure; Equity and fixed income holdings excluding cash
Number of Countries: Security level exposure; Equity holdings excluding cash
Asset Mix: Fund level exposure
Equity Sector Weights: Security level exposure


Benchmark History

Mawer Global Balanced Benchmark History (changes made prospectively):

July 2013: 5% 91 Day Treasury Bill, 35% FTSE TMX Canada Universe Bond, 60% MSCI World Net (Cdn$) 
Aug 2013: MSCI World Net (Cdn $) returns is used to calculate the blended benchmark from inception. Previously, MSCI World Gross (Cdn $) was used.
Oct 2015: 20% FTSE TMX Canada Universe Bond, 20% Citi WGBI, 60% MSCI World Net (Cdn$)
Oct 2016: 20% FTSE TMX Canada Universe Bond, 20% Citi WGBI, 60% MSCI ACWI (net)

Rationale for Change: Changes were made to underlying asset class benchmarks as noted in above in the Equity Asset Class Tables. Because the   benchmarks for the Mawer Global Balanced Fund are based on those of the underlying funds, the internal Global Balanced benchmark changes accordingly.

Mawer Global Equity Benchmark History (changes made prospectively):

Oct: 2009: MSCI World (net)
Oct 2016: MSCI ACWI (net)

Rationale for Change: MSCI ACWI (net) Index is a better representation of the mandate in our opinion. Past benchmark does not include Emerging Markets whereas the fund has holdings in these markets consistent with its prospectus and investment policy statement.) 

Benchmarks returns are rebalanced on a monthly basis.


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. 

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.