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Mawer New Canada Fund (CLOSED)
As at June 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™
(As at June 30, 2026)
Fund Managers:
Jeff Mo, CFA
Series Start Date:
Jan 15, 1988
Fund Net Asset Value:
$1,057.10 million
Total Net Asset Value (Series F):
$171.20 million
Net Asset Value Per Unit:
$99.08
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.36% (as at June 30, 2026)
Trading Expense Ratio†:
0.10% (as at June 30, 2026)
Fund Code:
MAW107/MAW307
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
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 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 HoldingsWeight (%)
Hammond Power Solutions Inc5.5
Bird Construction Inc5.4
Enerflex Ltd4.8
Sprott Inc4.3
Calian Group Ltd4.1
TerraVest Industries Inc3.7
Skeena Resources Ltd3.5
Jamieson Wellness Inc2.9
Badger Infrastructure Solutions Ltd2.9
Mainstreet Equity Corp2.8
Brookfield Wealth Solutions Ltd2.6
Kraken Robotics Inc2.6
Black Diamond Group Ltd2.6
International Petroleum Corp2.5
CES Energy Solutions Corp2.5
Dominion Lending Centres Inc2.5
Headwater Exploration Inc2.5
Topicus.com Inc2.3
Stella-Jones Inc2.2
Dexterra Group Inc2.2
Colliers International Group Inc2.1
Wellstar Technologies Corp2.1
Trisura Group Ltd2.0
Kinaxis Inc2.0
Savaria Corp1.9
Net Performance‡
As at June 30, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer New Canada Fund8.012.34.88.5
New Canada Fund Benchmark57.230.315.011.3
Morningstar Rating™
1
2
1
3
Number of Funds in Morningstar Category
156
151
146
118
Number of Holdings§54
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
0.0
1.5
2.1
2.4
5.1
2.9
17.5
22.5
12.1
5.2
5.2
5.1
32.0
12.6
11.1
6.1
8.5
29.8
5.8
10.3
0.0
1.7
0.8
0.0
Regional Weights
Portfolio
New Canada Fund Benchmark
Canada
Cash & Cash Equivalents
97.1
0.0
2.9
0.0
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
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 F-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
§ Equity holdings excluding cash.