Portfolios

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

Fixed Income Fund

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

On December 31, 2019 the investments included the following:

Investment               $
Money market   299,410
High Yield Mortgage  3,798,398
Mortgage Pension Trust 8,037,905
Core Plus Bond Fund 26,196,493
Total Fixed Income Fund 38,332,206

Top 10 Holdings in PH&N Core Plus Bond Fund

HoldingCountrySector
Canada Housing Trust No. 1 1.800% 16.Dec.24CanadaFederal
Canada Housing Trust No. 1 2.900% 15.Jun.24
Province of Ontario 5.600% 2.Jun.35CanadaProvincial
Canada Housing Trust No. 1 2.400% 15.Dec.22CanadaFederal
Province of Ontario 2.900% 2.Dec.46CanadaProvincial
Province of Ontario 2.700% 2.Jun.29CanadaProvincial
Government of Canada 2.750% 1.Dec.48CanadaFederal
Province of Ontario 4.600% 2.Jun.39CanadaProvincial
Province of Quebec 3.100% 1.Dec.51CanadaProvincial
Canada Housing Trust No. 1 2.650% 15.Dec.28CanadaFederal

Growth Fund

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

On December 31 , 2019 the holdings for each manager are as follows:

Investment

$

PH&N Canadian Equity Value Fund

19,338,432

RBC Global Equity Focus Fund

15,270,417

Ballie Gifford Global Equity

16,130,535

50,739,384

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
Brookfield Asset Management Inc., Class ACanadaFinancials
Suncor Energy Inc.CanadaEnergy
Canadian National Railway CompanyCanadaIndustrials
Canadian Pacific Railway Ltd.CanadaIndustrials
TC Energy Corp.CanadaEnergy
Canadian Natural Resources Ltd.CanadaEnergy

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

HoldingCountrySector
Roche Holdings AG GenusscheineSwitzerlandHealth Care
United Health Group IncorporatedUnited StatesHealth Care
Danaher CorpUnited StatesHealth Care
TJX Companies Inc.United StatesConsumer Discretionary
Microsoft Corp.United StatesInformation Technology
Deutsche Post AGGermanyIndustrials
First Republic BankFranceFinancials
Fortive Corp.United StatesIndustrials
Alphabet Inc., Class AUnited StatesTelecommunication Services
The Blackstone Group IncUnited StatesFinancials

Top 10 stocks held in Ballie Gifford Global Equity

HoldingCountry
Alibaba Group Holdings Ltd ADRChinese
Amazon.com IncUnited States
Prudential PLCUnited States
Moody's CorporationUnited States
Alphabet Inc. CUnited States
Mastercard Inc AUnited States
Anthem IncUnited States
Naspers Ltd Class NSouth Africa
AIA Group LtdHong Kong
Microsoft CorpUnited States