Mawer New Canada Fund (CLOSED)

As at December 31, 2018

The Mawer New Canada Fund is capped to new and existing mutual fund investors. This has been done given the limited liquidity of the securities in the small cap segment of the Canadian equity market and given our desire to ensure that we continue to offer the best possible small cap product to our existing clients.

Morningstar RatingTM: (as at Dec 31, 2018)
Fund Managers:
Jeff Mo, CFA
Fund Inception Date: January 8, 1988
Fund Net Asset Value: $1,133.2 million
Total Net Asset Value (Series A): $183.4 million
Net Asset Value Per Unit: $67.00
RRSP Eligibility: Yes
Management Expense Ratio: 1.36% (as at Dec 31, 2018)
Trading Expense Ratio1: 0.04% (as at Dec 31, 2018)
Fund Code: MAW107

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, may still be used from time to time.

Investor Suitability

Investors seeking long-term, above average growth who can tolerate significant volatility. High risk.

Investment Strategy

In order to achieve its investment strategy 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.

Net Performance

1-Yr 3-Yr 5-Yr 10-Yr
Mawer New Canada Fund -10.2 3.6 4.9 15.4
New Canada Benchmark -18.2 4.4 -0.4 8.5
Morningstar Rating 4 4 5 5
Number of Funds in Morningstar Category Cdn Small/Mid Cap Equity 224 199 172 96

Number of Holdings2: 49

Top 25 Holdings% Weight
MTY Food Group Inc. 4.9
Boyd Group Income Fund 4.9
Stella-Jones Inc. 4.9
Enghouse Systems Limited 4.7
Cash & Cash Equivalents 4.5
Solium Capital Inc. 4.3
Altus Group Limited 4.1
Winpak Ltd. 3.7
NFI Group Inc. 3.7
Morneau Shepell Inc. 3.4
Parkland Fuel Corporation 3.2
Richelieu Hardware Ltd 3.1
Sleep Country Canada Holdings Inc 3.0
Recipe Unlimited Corporation 2.9
Equitable Group Inc. 2.8
Stantec Inc 2.6
Descartes Systems Group Inc. 2.5
Canadian Western Bank 2.4
Mainstreet Equity Corp. 2.4
CES Energy Solutions Corp 2.3
Richards Packaging Income Fund 1.9
Intertape Polymer Group Inc. 1.8
Cogeco Inc. 1.8
Savaria Corporation 1.7
InterRent Real Estate Investment Trust 1.6

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 Equity holdings excluding cash.

Benchmark History

Mawer New Canada Benchmark History (changes made prospectively):

Jan 1988: BMO Weighted Small Cap (Blended)
Oct 2016: S&P/TSX Small Cap

Rationale for Change: S&P/TSX Small Cap Index is a better benchmark in our opinion. For example, it provides better comparability, liquidity and a more readily available data set.

Benchmark 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.