Mawer Tax Effective Balanced Fund
As at December 31, 2018
What does this Fund Invest In?
The fund may invest up to all of its assets in equity and equity-related securities, treasury bills, short-term notes, debentures and bonds from Canadian, U.S. and international issuers or in other funds managed by Mawer. They can be of any size and from any industry.
Investors seeking long-term growth at medium risk with tax effectiveness.
The Manager’s traditional equity approach of systematically buying wealth creating companies at a discount to intrinsic value is used to construct the equity part of the portfolio. The fixed income part of the portfolio follows our traditional fixed income approach of focusing on sector allocation, security selection, and trading strategies. For asset mix, the Manager analyzes which combination of asset classes is most likely to offer the most attractive risk/return characteristics within a medium to long-term time frame, and carries out asset mix changes gradually to reduce risk. The manager minimizes taxes through the application of a tax overlay strategy, with the objective to minimize taxable distributions.
|Mawer Tax Effective Balanced Fund||-0.3||4.2||7.0||9.5|
|Internal Tax Effective Balanced Benchmark||-2.7||4.3||5.7||7.4|
|Number of Funds in Morningstar Category Global Equity Balanced||1373||1052||776||328|
|Number of Holdings2:||278|
|Number of Countries2:||30|
|Top 25 Holdings1||% Weight|
|Cash & Cash Equivalents||7.6|
|Mawer Global Small Cap Fund Series O||6.4|
|Mawer Global Bond Fund Series O||2.5|
|Government Of Canada 1.0% 01-jun-2027||1.3|
|Canada Housing Trust No. 1 1.25% 15-jun-2021||1.1|
|Government Of Canada 4.0% 01-jun-2041||1.1|
|Province Of Ontario 3.45% 02-jun-2045||1.0|
|Province Of British Columbia 3.3% 18-dec-2023||1.0|
|Government Of Canada 1.5% 01-jun-2023||0.9|
|Government Of Canada 3.5% 01-dec-2045||0.9|
|Province Of Quebec 3.5% 01-dec-2045||0.9|
|Government Of Canada 2.75% 01-jun-2022||0.8|
|Province Of Ontario 2.6% 02-jun-2027||0.8|
|Verisk Analytics Inc||0.8|
|Marsh & McLennan Companies, Inc.||0.8|
|Canada Housing Trust No. 1 2.25% 15-dec-2025||0.7|
|Becton, Dickinson and Company||0.7|
|Intertek Group plc||0.7|
|Alphabet Inc. Class C||0.7|
|Province Of Quebec 3.0% 01-sep-2023||0.7|
|Wolters Kluwer NV||0.7|
|Visa Inc. Class A||0.7|
|Royal Bank of Canada||0.7|
|Government Of Canada 2.5% 01-jun-2024||0.7|
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: Fund level exposure; Equity and fixed income holdings excluding cash
Asset Mix: Fund level exposure
Equity Sector Weights: Security level exposure
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.