(As of 9/30/2025)

Mawer Tax Effective Balanced Fund series A

(Global Neutral Balanced)

FundGrade A+^® Rating recipient
For more information about FundGrade click here

2020
2019
2018
2017

Inception Return (1/31/1988)	7.76 %
YTD Return	9.33 %

NAVPS (10/15/2025)	$50.23
Change	$0.19 / 0.38 %

Growth of $10,000 (As of September 30, 2025)

MER	0.89 %
Assets ($mil)	-
Rank (1Yr)	1020/1723
Std Dev (3Yr)	8.73 %
Volatility Ranking (3Yr)	3/10
RRSP Eligibility	Yes
Load	No Load
Max Front End	-
Max Back End	-
Sales Status	Open

Objective

The investment objective of the Mawer Tax Effective Balanced Fund is to invest for above-average long-term, tax-effective rates of return. We intend to achieve this objective by investing up to all of the assets of the Fund in other Funds as well as by investing directly in equity and equity-related securities and, when appropriate, treasury bills, short-term notes, debentures and bonds.

Fund Manager

Mawer Investment Management Ltd.

Portfolio Manager

Steven Visscher, Mawer Investment Management Ltd.

Sub-Advisor

Asset Allocation
(As of August 31, 2025)

Sector Allocation
(As of August 31, 2025)

Geographic Allocation
(As of August 31, 2025)

Top 10 Holdings

Name	Asset	Sector	Geographic	Percent
Mawer Global Small Cap Fund Series O	International Equity	Mutual Fund	Multi-National	7.03%
Mawer Global Credit Opportunities Fund Series O	Other	Mutual Fund	Multi-National	4.51%
Canada Housing Trust No 1 2.15% 15-Dec-2031	Domestic Bonds	Fixed Income	Canada	2.78%
Canada Government 1.50% 01-Jun-2031	Domestic Bonds	Fixed Income	Canada	2.46%
Canada Government 22-Oct-2025	Cash and Equivalents	Cash and Cash Equivalent	Canada	2.20%
Mawer Emerging Markets Equity Fund Series O	International Equity	Mutual Fund	Multi-National	2.08%
Quebec Province 3.60% 01-Sep-2033	Domestic Bonds	Fixed Income	Canada	1.60%
Canada Government 05-Nov-2025	Cash and Equivalents	Cash and Cash Equivalent	Canada	1.58%
Ontario Province 3.65% 02-Jun-2033	Domestic Bonds	Fixed Income	Canada	1.39%
Canada Government 2.00% 01-Dec-2051	Domestic Bonds	Fixed Income	Canada	1.27%

Performance Data (As of September 30, 2025)

	Return (%)				Annualized Return (%)
Return	1 Mth	3 Mth	6 Mth	YTD	1 Yr	3 Yr	5 Yr	10 Yr
Fund	1.86	3.17	6.56	9.33	9.98	12.08	5.92	6.76
Benchmark	3.57	6.62	9.56	10.19	13.79	15.33	7.31	7.49
Quartile Ranking	4	4	4	2	3	3	3	2

Calendar Return (%)	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Fund	11.02	10.11	-12.40	9.18	10.66	14.93	-0.25	9.87	3.32	10.18
Benchmark	17.48	11.69	-11.62	6.48	11.12	12.26	2.68	8.66	2.39	17.05
Quartile Ranking	4	2	3	3	1	1	1	1	3	1

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