For serious mutual fund investors, I would recommend going with Questrade. They have access to most funds including F-Class funds. For a fee of $9.95 per trade, you can buy whatever mutual fund you want. Think of all the money you would save from avoiding that 0.45% to 1.5% worth of trailer fee (annually).
How to buy Mawer MFs
- Last Updated:
- May 29th, 2023 5:22 pm
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- SCORE
- Uranium101
- Deal Addict
- Apr 21, 2012
- 1770 posts
- 1140 upvotes
- Markham
- Jon Lai
- Deal Expert
- May 30, 2005
- 49008 posts
- 10301 upvotes
- Richmond Hill
Only $50K+, not only out west... what ever gave you that idea?!
- flafson
- Deal Addict
- Oct 29, 2010
- 4475 posts
- 811 upvotes
For some reason RBC is the only one that doesn't work with them.Uranium101 wrote: ↑Tried buying their funds at RBC DI and got rejected.
Your other option is to buy directly from Mawer but then you need 25k or 50k to buy.
- flafson
- Deal Addict
- Oct 29, 2010
- 4475 posts
- 811 upvotes
- tsimpson76
- Sr. Member
- Dec 22, 2013
- 930 posts
- 223 upvotes
- EDMONTON
What is the appeal of these funds vs etfs?
- guyver0
- Deal Addict
- Jan 15, 2009
- 1081 posts
- 456 upvotes
- Just north.
Mawer's funds are all active MF's, they're the cheapest available MF's in Canada.
- Mars2012
- Moderator
- May 28, 2012
- 12484 posts
- 5278 upvotes
- Saskatoon
- jfroland
- Jr. Member
- Oct 10, 2014
- 176 posts
- 27 upvotes
- Toronto, ON
one fund, automatic rebalancing, no trading, no bid spread, cheap management fees, low churning, well managedtsimpson76 wrote: ↑What is the appeal of these funds vs etfs?
- orispanerai
- Newbie
- Feb 16, 2008
- 39 posts
- 16 upvotes
CIBC does not charge any commission on purchase or selling of mutual funds. You only get charged fees from what the mutual fund company charges. CIBC allows you to buy Mawer funds.
- flafson
- Deal Addict
- Oct 29, 2010
- 4475 posts
- 811 upvotes
- bluejazzy
- Sr. Member
- May 5, 2010
- 971 posts
- 119 upvotes
Mawer is probably the only MF I would ever consider. Their small cap research is solid, unfortunately their Canadian small cap which I like the most, is closed to new investors I believe.
- canuckchris
- Member
- Feb 8, 2010
- 326 posts
- 35 upvotes
- Toronto
It is also free to sell if the order is placed online. Qtrade doesn't charge mutual fund commissions when the trade is done online. This is separate from any potential short term trading fees if you don't hold the fund for at least 90 days.guyver0 wrote: ↑With Qtrade, free to buy MF, regular commission ($8.75) to sell.
http://www.mawer.com/mutual-funds/fund-profiles/
Seems the MER goes from 0.9% to 1.82%. Certainly higher than index, but Mawer funds do provide a pretty good track record. Their Global small cap has be on a tear last few years.
Their Balanced fund has MER of 0.96%. It holds 6 other Mawer MF's, so does that mean 0.96% is all-in MER? Or is the 0.96% on top of the MER of the 6 separate MF's withing the Balanced fund?
- Savabuck
- Newbie
- Nov 6, 2014
- 77 posts
- 20 upvotes
Yes I looked into it recently. You are correct their CDN small cap is currently closed to new investors. About 5 % of their Balanced fund is CDN small cap fund I believe.
- jfroland
- Jr. Member
- Oct 10, 2014
- 176 posts
- 27 upvotes
- Toronto, ON
- jfroland
- Jr. Member
- Oct 10, 2014
- 176 posts
- 27 upvotes
- Toronto, ON
but on the other end, this should be a tribute to their management. once they had reached their limit they closed it, instead of diluting their impact.
- Savabuck
- Newbie
- Nov 6, 2014
- 77 posts
- 20 upvotes
Something else to consider is that there's no fee to purchase most mutual funds (including Mawer funds) through TD Direct Investing. As far as I'm aware there's now no transaction fee to sell them either. Of course it's always wise to complete due diligence and make sure there's no deferred sales fee built into the fund. I've taken a quick look at what funds Questrade offers. I wish they'd give a list of all their F series funds that they sell.Uranium101 wrote: ↑For serious mutual fund investors, I would recommend going with Questrade. They have access to most funds including F-Class funds. For a fee of $9.95 per trade, you can buy whatever mutual fund you want. Think of all the money you would save from avoiding that 0.45% to 1.5% worth of trailer fee (annually).
- flafson
- Deal Addict
- Oct 29, 2010
- 4475 posts
- 811 upvotes
You sure there's no fee? I just sold some a couple of weeks and they charged me $34 i think.Savabuck wrote: ↑Something else to consider is that there's no fee to purchase most mutual funds (including Mawer funds) through TD Direct Investing. As far as I'm aware there's now no transaction fee to sell them either. Of course it's always wise to complete due diligence and make sure there's no deferred sales fee built into the fund. I've taken a quick look at what funds Questrade offers. I wish they'd give a list of all their F series funds that they sell.
- Savabuck
- Newbie
- Nov 6, 2014
- 77 posts
- 20 upvotes
Yes good news I've spoken with 3 different TDDI reps who confirmed this. No more fees to sell any mutual funds unless there's a built in DSC (which I don't think they sell anyway). They said this just changed early last week. You are right there used to be about $45 transaction fee to redeem Mawer funds by phone and about $30+ online. You may find that some of the reps aren't aware yet. In that case I'd ask them to check with a supervisor.
- Savabuck
- Newbie
- Nov 6, 2014
- 77 posts
- 20 upvotes
Yes I agree. Maybe they can start a New Canada II fund if any new good companies come along.
- Savabuck
- Newbie
- Nov 6, 2014
- 77 posts
- 20 upvotes
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