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.
Mawer Tax Effective Balanced Fund
As at June 30, 2023- Morningstar Rating™
- (as at Jun 30, 2023)
- Fund Managers:
-
Steven Visscher, CFA
- Series Start Date:
- Feb 26, 1988
- Fund Net Asset Value:
- $1,615.6 million
- Total Net Asset Value (Series A):
- $1,184.3 million
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.
Investor Suitability
Investors seeking long-term growth at low-medium risk with tax effectiveness.
Investment Strategy
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.
Asset Mix ‖
- ●International Equity16.7%
- ●U.S. Equity16.3%
- ●Global Small Cap Equity7.0%
- ●Emerging Markets1.1%
- ●Canadian Large Cap Equity14.8%
- ●Canadian Small Cap Equity3.4%
- ●Canadian Fixed Income32.6%
- ●Cash & Cash Equivalents8.1%
Top Holdings ‖
| Top Holdings | Weight (%) |
|---|---|
| Cash & Cash Equivalents | 8.0 |
| Mawer Global Small Cap Fund Series O | 7.1 |
| Province Of Ontario 3.6% 08-mar-2028 | 2.8 |
| Government Of Canada 2.75% 01-jun-2033 | 2.3 |
| Province Of Ontario 4.65% 02-jun-2041 | 1.4 |
| Province Of Quebec 3.6% 01-sep-2033 | 1.3 |
| Mawer Emerging Markets Equity Fund Series O | 1.1 |
| Thomson Reuters Corporation 2.239% 14-may-2025 | 0.9 |
| Microsoft Corporation | 0.9 |
| Toronto-dominion Bank 2.667% 09-sep-2025 | 0.9 |
| Aon Plc Class A | 0.8 |
| Canadian Pacific Railway Company 2.54% 28-feb-2028 | 0.8 |
| Royal Bank of Canada | 0.8 |
| Bank Of Montreal 3.65% 01-apr-2027 | 0.8 |
| Marsh & McLennan Companies, Inc. | 0.8 |
| Toronto-Dominion Bank | 0.8 |
| Province Of Quebec 1.5% 01-sep-2031 | 0.8 |
| Government Of Canada 2.0% 01-dec-2051 | 0.7 |
| Wolters Kluwer N.V. | 0.7 |
| Amphenol Corporation Class A | 0.7 |
| Canadian Natural Resources Limited | 0.7 |
| Jpmorgan Chase & Co. 1.896% 05-mar-2028 | 0.7 |
| Government Of Canada 3.5% 01-mar-2028 | 0.7 |
| Visa Inc. Class A | 0.7 |
| Verisk Analytics Inc | 0.7 |
Equity Sector Weights ¶
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.
- ‖ Fund level exposure
- ¶ Security level exposure
- ** Equity and Fixed Income holdings, excluding cash
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.
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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