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 September 30, 2024 the investments included the following:
| Investment | $ |
| Money market | 148,216 |
| High Yield Mortgage | 2,932,135 |
| Mortgage Pension Trust | 9,360,088 |
| Core Plus Bond Fund | 27,775,910 |
| Total Fixed Income Fund | 40,216,349 |
Growth Fund
The Growth Fund Investments are managed by one Canadian equity managers, and two global equity managers.
On September, 2024 the holdings for each manager are as follows:
|
Investment |
$ |
| PH&N Canadian Equity Value Fund |
19,578,120 |
| RBC Global Equity Focus Fund |
14,618,008 |
| Ballie Gifford Global Equity |
15,366,577 |
| Total Growth Fund | 47,501,031 |
Top 10 stocks held in the PH&N Canadian Equity Value Fund
| Holding | Country | Sector |
|---|---|---|
| Royal Bank of Canada | Canada | Financials |
| Canadian Natural Resources Ltd | Canada | Energy |
| Toronto-Dominion Bank | Canada | Financials |
| Brookfield Corp | Canada | Financials |
| Shopify Inc. | Canada | Information Technology |
| Canadian Pacific Kansas City Ltd. | Canada | Industrials |
| Enbridge Inc. | Canada | Energy |
| Canadian National Railway Company | Canada | Industrials |
| Bank of Montreal | Canada | Financials |
| Suncor Energy Inc | Canada | Energy |
Top 10 stocks held in the PH&N RBC Global Equity Fund
| Holding | Sector | Country |
|---|---|---|
| NVIDIA Corp | Information Technology | United States |
| Microsoft Corp. | Information Technology | United States |
| Amazon | Consumer Staples | United States |
| United Health Group Incorporated | Health Care | United States |
| Taiwan Semiconductor Manufacturing Co Ltd | Information Technology | Taiwan |
| Novo Nordisk | Health Care | Denmark |
| Visa Inc. Class A shares | Financials | United States |
| Safran AC | Industrials | France |
| AutoZone Inc | Consumer Discretionary | United States |
| Home Depot Inc | Consumer Discretionary | United States |
Top 10 stocks held in Baillie Gifford Global Equity
| Holding | Description of Business | Country |
|---|---|---|
| Microsoft Corp | software company | United States |
| Meta Platforms Inc | social networking website | United States |
| Amazon.com | online retail and computing infrastructure company | United States |
| Elevance Health Inc | healthcare insurer | United States |
| NVIDIA | information technology | United States |
| Martin Marietta Materials Inc | cement and aggregates manufacturer | United States |
| CRH | diversified building materials company | Ireland |
| Prosus N.V | technology investment group | Netherlands |
| TSMC | semiconductor manufacturing company | Taiwan |
| Ryanair ADR | low-cost airline | Ireland |