Quarterly Update | Q3 2026 | EP 232
October 14, 2026
22 Mins
Mawer New Canada Fund (CLOSED)
As at September 30, 2026
The purchase of units of the Mawer New Canada Fund is currently restricted. The Fund is only open to new investors as part of a discretionary balanced portfolio through Mawer and to existing investors at our discretion. We reserve the right to re-open the Mawer New Canada Fund to all purchasers at any time.
Morningstar Rating™
starstar
(As at September 30, 2026)
Fund Managers:
Jeff Mo, CFA
Series Start Date:
Jan 15, 1988
Fund Net Asset Value:
$876.60 million
Total Net Asset Value (Series F):
$163.20 million
Related Links
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP206
January 15, 2026
21 Mins
%20--%3e%3csvg%20version='1.1'%20id='Layer_1'%20xmlns='http://www.w3.org/2000/svg'%20xmlns:xlink='http://www.w3.org/1999/xlink'%20x='0px'%20y='0px'%20viewBox='0%200%20107.7%2094'%20style='enable-background:new%200%200%20107.7%2094;'%20xml:space='preserve'%3e%3cstyle%20type='text/css'%3e%20.st0{fill:%236CC5F6;}%20%3c/style%3e%3ccircle%20id='Ellipse_252'%20class='st0'%20cx='-87.9'%20cy='130'%20r='39.5'/%3e%3cpath%20d='M41.5,80.2h-6c-0.6,0-1-0.4-1-1V52c0-0.6,0.4-1,1-1h6c0.6,0,1,0.4,1,1v27.2C42.5,79.8,42,80.2,41.5,80.2z%20M36.4,78.2h4V53%20h-4V78.2z%20M59.2,80.2h-6c-0.6,0-1-0.4-1-1V31c0-0.6,0.4-1,1-1h6c0.6,0,1,0.4,1,1v48.2C60.2,79.8,59.7,80.2,59.2,80.2z%20M54.2,78.2h4%20V32h-4V78.2z%20M78.3,80.2h-6c-0.6,0-1-0.4-1-1V17.3c0-0.6,0.4-1,1-1h6c0.6,0,1,0.4,1,1v61.9C79.3,79.8,78.9,80.2,78.3,80.2z%20M73.3,78.2h4V18.3h-4V78.2z%20M90.7,86.5H22.6V55.1l0,0l0,0v-34l0,0l0,0v-3.7c0-0.6-0.4-1-1-1s-1,0.4-1,1v2.7H17c-0.6,0-1,0.4-1,1%20s0.4,1,1,1h3.6v32.1H17c-0.6,0-1,0.4-1,1s0.4,1,1,1h3.6v30.4H17c-0.6,0-1,0.4-1,1s0.4,1,1,1h3.6V93c0,0.6,0.4,1,1,1s1-0.4,1-1v-4.5%20h32.6V93c0,0.6,0.4,1,1,1s1-0.4,1-1v-4.5h30.4V93c0,0.6,0.4,1,1,1s1-0.4,1-1v-4.5h1.1c0.6,0,1-0.4,1-1S91.3,86.5,90.7,86.5z%20M32.5,24.8L52.7,9.4l2.5,6.2c0.1,0.3,0.4,0.5,0.7,0.6s0.6,0,0.9-0.2L75.9,1.8c0.4-0.3,0.5-1,0.2-1.4c-0.3-0.4-1-0.5-1.4-0.2%20L56.6,13.7l-2.5-6.3c-0.1-0.3-0.4-0.5-0.7-0.6s-0.6,0-0.9,0.2L31.3,23.2c-0.4,0.3-0.5,1-0.2,1.4c0.2,0.3,0.5,0.4,0.8,0.4%20C32.1,25,32.3,24.9,32.5,24.8z'/%3e%3c/svg%3e)
What Does this Fund Invest In?
The Fund invests primarily in securities of smaller 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 significant volatility. Medium-high 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 a long-term holding period to allow for investor recognition or corporate growth, and to minimize transaction costs.
Top Holdings
| Top Holdings | Weight (%) |
|---|---|
| Bird Construction Inc | 6.0 |
| Enerflex Ltd | 4.9 |
| Sprott Inc | 4.4 |
| WELLSTAR Technologies Corp | 4.2 |
| Calian Group Ltd | 3.9 |
| Skeena Resources Ltd | 3.8 |
| Cash and Cash Equivalents | 3.7 |
| Dexterra Group Inc | 3.5 |
| Hammond Power Solutions Inc | 3.4 |
| TerraVest Industries Inc | 3.3 |
| Badger Infrastructure Solutions Ltd | 2.9 |
| Topicus.com Inc | 2.6 |
| CES Energy Solutions Corp | 2.6 |
| Kraken Robotics Inc | 2.6 |
| Mainstreet Equity Corp | 2.4 |
| Kinaxis Inc | 2.4 |
| Black Diamond Group Ltd | 2.3 |
| Dominion Lending Centres Inc | 2.3 |
| Headwater Exploration Inc | 2.3 |
| Colliers International Group Inc | 2.3 |
| Trisura Group Ltd | 2.2 |
| Greenfire Resources Ltd | 2.1 |
| Savaria Corp | 1.9 |
| Descartes Systems Group Inc/The | 1.8 |
| International Petroleum Corp | 1.7 |
Equity Sector Weights
Portfolio
New Canada Fund Benchmark
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
Regional Weights
Portfolio
New Canada Fund Benchmark
Canada
Cash & Cash Equivalents
Related Links
Quarterly Update | Q3 2026 | EP 232
October 14, 2026
22 Mins
Quarterly Update | Q2 2026 | EP 221
July 15, 2026
27 Mins
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP206
January 15, 2026
21 Mins
Disclaimers