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 March 31, 2024 the investments included the following:
| Investment | $ |
| Money market | 1,112,335 |
| High Yield Mortgage | 3,410,227 |
| Mortgage Pension Trust | 9,875,870 |
| Core Plus Bond Fund | 25,322,391 |
| Total Fixed Income Fund | 39,720,823 |
Growth Fund
The Growth Fund Investments are managed by one Canadian equity managers, and two global equity managers.
On March 31, 2024 the holdings for each manager are as follows:
|
Investment |
$ |
| PH&N Canadian Equity Value Fund |
19,794,431 |
| RBC Global Equity Focus Fund |
14,715,534 |
| Ballie Gifford Global Equity |
14,452,556 |
| Total Growth Fund | 48,962,521 |
Top 10 stocks held in the PH&N Canadian Equity Value Fund
| Holding | Country | Sector |
|---|---|---|
| Royal Bank of Canada | Canada | Financials |
| Toronto-Dominion Bank | Canada | Financials |
| Canadian Natural Resources Ltd | Canada | Energy |
| Shopify Inc. | Canada | Information Technology |
| Bank of Montreal | Canada | Financials |
| Canadian Pacific Railway Ltd. | Canada | Industrials |
| Enbridge Inc. | Canada | Energy |
| Canadian National Railway Company | Canada | Industrials |
| Alimentation Couche-Tard Inc | Canada | Consumer Staples |
| Waste Connections Inc. | Canada | Industrials |
Top 10 stocks held in the PH&N RBC Global Equity Fund
| Holding | Country | Sector |
|---|---|---|
| Microsoft Corp. | United States | Information Technology |
| United Health Group Incorporated | United States | Health Care |
| Amazon | United States | Consumer Staples |
| Alphabet Inc. Class A shares | United States | Telecommunication Services |
| Visa Inc. Class A shares | United States | Financials |
| AutoZone Inc | United States | Consumer Discretionary |
| T-Mobile US Inc | United States | Telecommunication Services |
| Fortive Corp | United States | Industrials |
| NVIDIA Corp | United States | Information Technology |
| Micron Technology Inc | United States | Information Technology |
Top 10 stocks held in Baillie Gifford Global Equity
| Holding | Description of Business | Country |
|---|---|---|
| Meta Platforms Inc | social networking website | United States |
| Microsoft Corp | software company | United States |
| Amazon.com | online retail and computing infrastructure company | United States |
| Martin Marietta Materials Inc | cement and aggregates manufacturer | United States |
| Elevance Health Inc | healthcare insurer | United States |
| Ryanair ADR | low-cost airline | Ireland |
| CRH | diversified building materials company | Ireland |
| Moody's Corporation | credit rating agency | United States |
| Reliance Industries GDR | conglomerate in energy, textile, digital and financial services and more | India |
| TSMC | semiconductor manufacturing company | Taiwan |