Mawer New Canada Fund (CLOSED)

As at September 30, 2022

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 Sep 30, 2022)
Fund Managers:
Jeff Mo, CFA
Samir Taghiyev, CFA
Series Start Date:
Jan 15, 1988
Fund Net Asset Value:
$1,283.4 million
Total Net Asset Value (Series A):
$194.8 million
Net Asset Value Per Unit:
$80.56
RRSP Eligibility:
Yes
Management Expense Ratio * :
1.34% (as at Jun 30, 2022)
Trading Expense Ratio :
0.04% (as at Jun 30, 2022)
Fund Code:
MAW107, MAW307

Fund Profile

Morningstar Rating™
(as at Sep 30, 2022)
Fund Managers:
Jeff Mo, CFA
Samir Taghiyev, CFA
Series Start Date:
Jan 15, 1988
Fund Net Asset Value:
$1,283.4 million
Total Net Asset Value (Series A):
$194.8 million
Net Asset Value Per Unit:
$80.56
RRSP Eligibility:
Yes
Management Expense Ratio * :
1.34% (as at Jun 30, 2022)
Trading Expense Ratio :
0.04% (as at Jun 30, 2022)
Fund Code:
MAW107, MAW307

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. 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.

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. 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 (%)
Element Fleet Management Corporation 6.0
Trisura Group Ltd. 4.3
Mainstreet Equity Corp. 4.1
Winpak Ltd. 4.1
Stella-Jones Inc. 3.7
Parkland Corporation 3.5
Parex Resources Inc. 3.5
Sleep Country Canada Holdings Inc 3.5
Converge Technology Solutions Corp. 3.4
Andlauer Healthcare Group, Inc. 3.4
Cash & Cash Equivalents 3.3
Colliers International Group Inc. 3.2
Softchoice Corporation 3.1
MTY Food Group Inc. 3.0
Enghouse Systems Limited 2.9
Dye & Durham Ltd. 2.7
Stantec Inc 2.5
Richards Packaging Income Fund 2.4
Calian Group Ltd. 2.4
Boyd Group Services Inc 2.4
TerraVest Industries, Inc. 2.3
Pason Systems Inc. 2.3
goeasy Ltd. 2.3
International Petroleum Corp. (British Columbia) 2.3
EQB Inc 2.3

Net Performance

1 Yr 3 Yr 5 Yr 10 Yr
Mawer New Canada Fund (CLOSED) -24.0 4.4 5.6 10.6
New Canada Fund Benchmark § -13.8 6.5 2.4 3.2
Morningstar Rating™ 2 3 4 5
Number of Funds in Morningstar Category 207 185 176 120
Number of Holdings 39

Equity Sector Weights

Sector: Communication services
  • Portfolio : 2.2
  • New Canada Fund Benchmark § : 2.4
Sector: Consumer discretionary
  • Portfolio : 7.2
  • New Canada Fund Benchmark § : 7.5
Sector: Consumer staples
  • Portfolio : 1.8
  • New Canada Fund Benchmark § : 4.2
Sector: Energy
  • Portfolio : 15.9
  • New Canada Fund Benchmark § : 18.8
Sector: Financials
  • Portfolio : 16.1
  • New Canada Fund Benchmark § : 6.8
Sector: Health care
  • Portfolio : 4.3
  • New Canada Fund Benchmark § : 4.9
Sector: Industrials
  • Portfolio : 13.1
  • New Canada Fund Benchmark § : 9.9
Sector: Information technology
  • Portfolio : 14.1
  • New Canada Fund Benchmark § : 7.3
Sector: Materials
  • Portfolio : 12.1
  • New Canada Fund Benchmark § : 29.6
Sector: Real estate
  • Portfolio : 9.8
  • New Canada Fund Benchmark § : 8.4
Sector: Utilities
  • Portfolio : 0
  • New Canada Fund Benchmark § : 0.4
Sector: Cash & cash equivalents
  • Portfolio : 3.3
  • New Canada Fund Benchmark § : 0

Disclaimers

  • * Management expense ration (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily 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.
  • § See benchmark history.
  • Equity holdings excluding cash.
  • 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.
  • 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. Since Inception performance has been calculated from the month-end after the initial funding of the mutual fund in order to provide a comparison against a monthly benchmark.

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.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

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