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Investment Report - Quarter 2 Financial Update (2017)

Quarterly Gross Investment Income

graph of quarterly gross investment income

  Q1 Q2 Q3 Q4 Total
2017 Budget (Net) $3,055,646 $3,469,979 $3,549,995 $3,935,145 $14,010,766
2017 Actual (Net) 3,328,704 3,247,443 3,549,995 3,935,145 14,061,287
Variance $273,058 $(222,537) - - $50,521

Note: Net amounts are after budgeted transfers from Investment Income Stabilization Reserve ($597,757), as well as an annual transfer of interest income to the Development Charge/Rate Reserves ($1,356,016). These annual transfers are allocated on a monthly basis. Not included in amounts above is a YTD net unrealized gain from the sale of investments, of $941,260.31.

Institution Investment by Institution Percentage Holdings
Investments
Corporate 151,201,859 33.6%
Municipal 75,044,226 16.7%
Provincial 215,118,515 47.9%
Federal 0.0%
Region of Niagara 8,202,549 1.8%
Total excluding Cash 449,567,149 100.0%
Cash
General Checking * 34,287,417  
Savings 51,078,291  
Sinking Fund 95,104  
Total including Cash 535,027,962  

*Cash balances shown are the amounts held by the financial institution at the end of the quarter and do not include adjustments for outstanding payments or deposits. Balances include unrealized exchange gains on U.S. funds of $1,611,766.96.

Funds Book Value Weight Q2
Cash 85,365,708 16.0%
Cash Equivalents < 1 Year 12,469,743 2.3%
2 Year 32,574,721 6.1%
3 Year 53,133,458 9.9%
4 Year 27,445,650 5.1%
5+ Year 312,161,647 58.3%
Sinking Fund (Incl. Cash) 11,877,035 2.2%
Total Portfolio $ 535,027,962 100%

List of Investments Outstanding as of June 30, 2017

Institution Investment by Institution Percentage Holdings *
Corporate
Bank of Montreal $37,652,101 8.4%
Bank of Nova Scotia 20,200,000 4.5%
Canadian Imperial Bank of Commerce 0.0%
HSBC Bank of Canada 17,600,000 3.9%
National Bank of Canada 50,900,000 11.3%
Royal Bank of Canada 24,849,758 5.5%
Corporate Total 151,201,859 33.6%
Municipal
City of Guelph - 0.0%
City of London 999,462 0.2%
City of Montreal 3,119,802 0.7%
City of Ottawa 5,673,177 1.3%
City of Quebec 2,282,574 0.5%
City of Saskatoon 3,331,471 0.7%
City of Toronto 13,922,726 3.1%
City of Wellington 851,261 0.2%
District of Muskoka 175,920 0.0%
Municipal Finance Authority of British Columbia 5,041,076 1.1%
New Brunswick Municipal Finance Authority 5,860,028 1.3%
Region of Durham - 0.0%
Region of Halton 1,518,055 0.3%
Region of Peel 3,521,838 0.8%
Region of Waterloo 15,434,149 3.4%
Region of York 6,998,952 1.6%
York Region District School Board 4,510,252 1.0%
York Sinking Fund Debenture 1,803,481 0.4%
Municipal Total 75,044,226 16.7%
Provincial
Province of Ontario 36,289,843 8.1%
Province of Quebec 32,900,892 7.3%
Province of British Columbia 6,508,401 1.4%
Province of Alberta 1,228,754 0.3%
Province of Manitoba 22,261,819 5.0%
Province of Nova Scotia 14,820,650 3.3%
Province of Newfoundland 48,140,114 10.7%
Province of New Brunswick 1,618,115 0.4%
Province of Prince Edward Island 2,597,178 0.6%
Province of Saskatchewan 5,180,577 1.2%
Newfoundland and Labrador Hydro 668,643 0.1%
Ontario Hydro 29,934,819 6.7%
Quebec Hydro 12,968,712 2.9%
Provincial Total 215,118,515 47.9%
Federal
- - -
Federal Total - 0.0%
Region of Niagara Debentures 8,202,549 1.8%
Total excluding Cash 449,567,149 100.0%
Cash and Cashable Guaranteed Investment Certificates 85,460,813
Total including Cash $535,027,962



Holding Type Policy Percentage Limits
Corporate 50%
Municipal 25%
Provincial 75%
Federal 100%
Region of Niagara Debentures 100%

* Note: Holdings by security percentages exclude cash balances.

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