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, 2023 the investments included the following:
| Investment | $ |
| Money market | 625,340 |
| High Yield Mortgage | 3,394,956 |
| Mortgage Pension Trust | 9,390,944 |
| Core Plus Bond Fund | 24,633,404 |
| Total Fixed Income Fund | 38,044,644 |
Growth Fund
The Growth Fund Investments are managed by one Canadian equity managers, and two global equity managers.
On September 30, 2023 the holdings for each manager are as follows:
|
Investment |
$ |
| PH&N Canadian Equity Value Fund |
17,383,931 |
| RBC Global Equity Focus Fund |
12,752,719 |
| Ballie Gifford Global Equity |
12,567,736 |
|
42,704,386 |
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 |
| Canadian Pacific Railway Ltd. | Canada | Industrials |
| Enbridge Inc. | Canada | Energy |
| Canadian National Railway Company | Canada | Industrials |
| Shopify Inc. | Canada | Information Technology |
| Brookfield Asset Management Inc., Class A | Canada | Financials |
| Bank of Montreal | Canada | Financials |
| Bank of Nova Scotia | Canada | Financials |
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 |
| Anheuser-Busch InBev SA/NV | United States | Consumer Staples |
| PepsiCo. Inc | United States | Consumer Staples |
| Alphabet Inc. Class A shares | United States | Telecommunication Services |
| AutoZone Inc | United States | Consumer Discretionary |
| Visa Inc. Class A shares | United States | Financials |
| T-Mobile US Inc | United States | Telecommunication Services |
| Taiwan Semiconductor Manufacturing Co. Ltd | Taiwan | Information Technology |
Top 10 stocks held in Ballie Gifford Global Equity
| Holding | Description of Business | Country |
|---|---|---|
| Microsoft Corp | software company | United States |
| Martin Marietta Materials Inc | cement and aggregates manufacturer | United States |
| Elevance Health Inc | healthcare insurer | United States |
| Amazon.com | online retail and computing infrastructure company | United States |
| Moody's Corporation | credit rating agency | United States |
| Prosus NV Ordinary Shares - Class N | portfolio of online consumer companies including Tencent | Netherlands |
| CRH | diversified building materials company | Ireland |
| Alphabet Inc. C | online search engine | United States |
| Meta Platforms Inc | social networking website | United States |
| Reliance Industries Ltd GDR | Indian petrochemical company | India |