Portfolios

The ELCIC Pension Plan has two investment funds. Please refer to the Statement of Investment Policies & Procedures for detailed investment portfolio construction.

Fixed Income Fund

The Fixed Income Fund investments are managed by Phillips Hager & North (PH&N).

On December 31, 2018 the investments included the following:

Investment               $
Money market    307,984
High Yield Mortgage  3,787,256
Mortgage Pension Trust 8,960,283
Core Plus Bond Fund 28,820,401
Total Fixed Income Fund 41,875,924

Top 10 Holdings in PH&N Core Plus Bond Fund

HoldingCountrySector
Canada Housing Trust No. 1 2.400% 15.Dec.22CanadaFederal
Government of Canada 2.750% 1.Dec.48CanadaFederal
Province of Ontario 5.600% 2.Jun.35CanadaProvincial
Canada Housing Trust No. 1 1.750% 15.Jun.22CanadaFederal
Government of Canada 2.000% 1.Sep.23CanadaFederal
Province of Ontario 2.900% 2.June.49CanadaProvincial
Province of Ontario 2.900% 2.Dec.46CanadaProvincial
Province of Ontario 2.600% 2.Jun.27CanadaProvincial
Province of Ontario 2.400% 2.Jun26CanadaProvincial
Province of Ontario 3.150% 2.Jun.22CanadaProvincial

Growth Fund

The Growth Fund Investments are managed by one Canadian equity managers, and two global equity managers.

On December 31 , 2018 the holdings for each manager are as follows:

Investment

                                 $

Canadian Equities
PH&N Canadian Equity Value Fund

17,196,281

Dividend receivable

5,288

17,201,569
Global Equities
PH&N RBC Global Equity Fund 13,145,585
AllianzGI Global Sustainability Fund 13,149,434

26,295,019

Total Equities

43,496,588

Top 10 stocks held in the PH&N Canadian Equity Value Fund

HoldingCountrySector
Royal Bank of CanadaCanadaFinancials
Toronto-Dominion BankCanadaFinancials
Bank of Nova ScotiaCanadaFinancials
Enbridge Inc.CanadaPipelines
Suncor Energy Inc.CanadaEnergy
Canadian National Railway CompanyCanadaIndustrials
Brookfield Asset Management Inc., Class ACanadaFinancials
Canadian Natural Resources Ltd.CanadaEnergy
Canadian Pacific Railway Ltd.CanadaIndustrials
Bank of MontrealCanadaFinancials

Top 10 stocks held in the PH&N RBC Global Equity Fund

HoldingCountrySector
Danaher CorpUnited StatesHealth Care
Roche Holdings AG GenusscheineSwitzerlandHealth Care
United Health Group IncorporatedUnited StatesHealth Care
Unilever N.V.United KingdomIndustrials
First Republic BankUnited StatesFinancials
Fortive Corp.United StatesIndustrials
EOG Resources Inc.United StatesEnergy
TJX Companies Inc.United StatesConsumer Discretionary
Deutsche Post AGGermanyIndustrials
Microsoft Corp.United StatesInformation Technology

Top 10 stocks held in AllianzGI Global Sustainability Fund

HoldingCountry
Microsoft CorpUnited States
VISA Inc Class A SharesUnited States
Royal Dutch Shell PLCUnited Kingdom
Amadeus IT GroupSpain
Agilent Technologies Inc. (A)United States
Intuit IncUnited States
Intl Flavors FragrancesUnited States
S+P Global Inc.United States
Starbucks CorpUnited States
American ExpressUnited States