2026 Investment Holdings

Laurier’s investments are managed by investment managers in pooled funds and limited partnerships.

Many of Laurier’s investment managers have publicly available policies on environmental, social and governance (ESG) factors, and they must report on the topic each year to Laurier’s Investment Oversight Sub-committee.

All of Laurier’s investment managers except one are signatories to the UN PRI (United Nations‐supported Principles for Responsible Investment). The one that is not a signatory invests solely in private mortgages within Canada and the U.S.

The table below links investment managers to their UNPRI signatory profiles.

Summary of Investments (in millions $) as of March 31, 2026

Investment Type

Investment Manager / Fund Name

Endowments and Other Investments*

Sinking

Total

Canadian Equity

Fiera Capital Corporation / Fiera Canadian Equity Fund – Class A

19.1

9.4

28.5

Manitou Investment Management Ltd. / Manitou Canadian Equity Fund

7.4

4.1

11.5

Global Equity

Walter Scott & Partners Limited / NCS Global Fund

 17.1

14.7

31.8

Boston Partners Global Investors Inc. / BP Global Equity Pooled Fund

 18.5

N/A

18.5

Fixed Income: Cash and Equivalents

Phillips, Hager & North Investment Management Ltd. / PH&N Canadian Money Market Fund

 2.0

N/A

2.0

Fixed Income: Canadian Bonds

Phillips, Hager & North Investment Management Ltd. / PH&N Core Plus Bond Fund

 16.3

1.9 18.2

Fixed Income: Mortgages

Addenda Capital / Addenda Commercial Mortgage Pooled Fund

 11.9

N/A

11.9

Romspen / Romspen Mortgage Investment Fund

 10.5

1.6

12.1

Balanced

Jarislowsky Fraser Global Investment Management / JF Fossil Fuel Free Bond Fund / JF Fossil Fuel Free Canadian Equity Fund / JF Fossil Fuel Free Global Equity Fund

 5.9

N/A

5.9

Jarislowsky Fraser Global Investment Management / JF Money Market Fund / JF Bond Fund / JF Short Mid Bond Funds / JF Canadian Equity Fund / JF Global Equity Fund

 2.8

N/A

2.8

Alternative Strategies: Real Assets

IFM Investors / IFM Global Infrastructure (Canada) LP – Class A

16.9 3.8

20.7

CBRE Global Investors / CBRE Global Alpha Feeder Fund – Series 3

 11.0

3.0

14.0

All Investment Types

All Funds

 139.4

38.5 177.7

*Policies and procedures on endowments and other investments:

In June 2024, Laurier enhanced its responsible investing practices with the move to disclose, on an annual basis, its investments, where applicable, to the holdings level. Below is a list of investment managers and their investment holdings as of March 31, 2025: