1993 Financial Statistics
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• FINANCIAL STATISTICS • • • • TABLE 0 F CONTENTS FINANCIAL STATISTICS 1993 EVOLUTION OF DEPOSITORS' HOLDINGS IN 1993 2 RETURN ANNUAL INTEREST OR INCOME PAID OUT ON AVERAGE DEPOSITS SUMMARY OF INVESTMENTS 4 PARTICIPATION IN NEW BOND ISSUES OF THE GOUVERNEMENT DU QUEBEC IN 1993 6 ACQUISITIONS OF NEW BONDS ISSUED BY THE GOUVERNEMENT DU QUEBEC 7 ACQUISITIONS OF NEW BONDS ISSUED BY THE QUEBEC PUBLIC SECTOR 7 BOND PORTFOLIO - NUMBER OF QUEBEC PUBLIC SECTOR ISSUERS 8 INVESTMENTS IN CANADIAN CORPORATE SHARES AND BONDS BY SECTOR OF ACTIVITY 5 STATEMENT OF REAL ESTATE INVESTMENTS 9 MORTGAGES OF $5 MILLION AND OVER 12 INVESTMENTS IN CORPORATE SHARES AND BONDS 14 TEN-YEAR FINANCIAL REVIEW SUMMARY OF DEPOSITORS' HOLDINGS 39 FUNDS' NET ASSETS 39 FUNDS ENTRUSTED BY DEPOSITORS 40 NET INCOME ALLOCATED TO DEPOSITORS 42 EVOLUTION OF INVESTMENTS AS PART OF NET ASSETS 43 SUMMARY OF INVESTMENTS 43 SUMMARY OF FOREIGN INVESTMENTS 43 BREAKDOWN OF INVESTMENTS 44 SUMMARY OF SHORT-TERM INVESTMENTS 45 BREAKDOWN OF INVESTMENTS 46 EVOLUTION OF THE PRIVATE INVESTMENTS PORTFOLIO 48 ADMINISTRATIVE STATISTICS 48 FIN A NCI A L ST A TISTICS 1993 EVOLUTION OF DEPOSITORS' HOLDINGS IN 1993 IN MILLIONS OF DOLLARS DEPOSITORS Fund Cost Market value Holdings, Net Deposits Cash Holdings, Holdings, Unrealized Cash Change Holdings, Excess beginning income (with- end beginning increase end over cost of year allocated drawals) of year of year in value of year Regte des rentes du Québec GF 14,599.7 1,522.5 (1,561.5) (39.0) 14,560.7 15,200.7 1,239.5 (39.0) 1,200.5 16,401.2 1,840.5 Commission administrative des régimes de retraite et d'assurances Government and Public Employees Retirement Plan Unionized level 301 10,403.3 1,059.0 634.0 1,693.0 12,096.3 10,728.1 1,103.0 1,693.0 2,796.0 13,524.1 1,427.8 Non-unionized level and other 302 2,104.5 181.2 (154.1) 27.1 2,131.6 2,166.9 198.5 27.1 225.6 2,392.5 260.9 Individual plans 303 41.9 5.9 53.4 59.3 101.2 42.2 5.1 59.3 64.4 106.6 5.4 Pension Plan of Elected Municipal Officers 305 78.9 7.5 2.4 9.9 88.8 79.1 8.2 9.9 18.1 97.2 8.4 12,628.6 1,253.6 535.7 1,789.3 14,417.9 13,016.3 1,314.8 1,789.3 3,104.1 16,120.4 1,702.5 Société de l'assurance automobile du Québec GF 5,062.8 527.8 (578.0) (50.2) 5,012.6 5,328.0 431.8 (50.2) 381.6 5,709.6 697.0 Commission de la construction du Québec Supplemental Pension Plan for Employees of the Québec Construction Industry 2 Active participants' account 311 2,229.2 192.0 (137.1) 54.9 2,284.1 2,290.3 194.9 54.9 249.8 2,540.1 256.0 Retired participants' account 312 1,092.0 95.8 63.4 159.2 1,251.2 1,110.9 112.3 159.2 271.5 1,382.4 131.2 Additional contributions account 313 351.6 33.8 30,0 63.8 415.4 351.9 21.6 63.8 85.4 437.3 21.9 3,672.8 321.6 (43.7) 277.9 3,950.7 3,753.1 328.8 277.9 606.7 4,359.8 409.1 Commission de la santé et de la sécurité du travail 330 3,747.1 351.6 (213.2) 138.4 3,885.5 3,834.6 342.2 138.4 480.6 4,315.2 429.7 Régie de l'assurance-dépôts du Québec GE 120.6 7.0 17.6 24.6 145.2 120.6 0.2 24.6 24.8 145.4 0.2 Régime complémentaire de rentes des techniciens ambulanciers œuvrant au Québec GF 19.3 2.3 6.3 8.6 27.9 19.3 1.8 8.6 10.4 29.7 1.8 Fonds d'assurance-prêts agricoles et forestiers du Québec GF 22.9 1.8 (2.9) (1.1) 21.8 23.5 0.8 (1.1) (0.3) 23.2 1.4 Office de la protection du consommateur Fonds des cautionnements collectifs des agents de voyages GF 7.2 0.6 (0.2) 0.4 7.6 7.1 0.4 0.4 0.8 7,9 0.3 Régie des marchés agricoles et alimentaires du Québec GE 3.0 0.3 (04) (0.1) 2.9 3.0 0.2 (0.1) 0.1 3.1 0.2 La Fédération des producteurs de bovins du Québec GE 1.0 0.1 0.1 0.2 1.2 1.0 0.2 0.2 1.2 Régie des assurances agricoles du Québec GF - Depositors' holdings 39,885.0 3,989.2 (1,840.2) 2,149.0 42,034.0 41,307.2 3,660.5 2,149.0 5,809.5 47,116.7 5,082.7 1992 38,027.3 3,269.8 (1,412,1) 1,857.7 39,885.0 41,053.4 (1,603.9) 1,857.7 253.8 41,307.2 1,422.2 1991 35,662.7 3,673.1 (1,308.5) 2,364.6 38,027.3 36,253.2 2,435.6 2,364.6 4,800.2 41,053.4 3,026.1 1990 33,324.4 2,774.9 (436.6) 2,338.3 35,662.7 36,645.9 (2,731.0) 2,338.3 (392.7) 36,253.2 590.5 1989 29,884.6 3,575.4 (135.6) 3,439.8 33,324.4 31,623.6 1,582.5 3,439,8 5,022.3 36,645.9 3,321.5 GF: General Fund Only the figures for 1992 have been restated to conform with the presentation of 1993. RETURN (1,4 PERCENTAGE; Annual compound rate for the period 1993 1989-1993 1984-1993 (5 years) (10 years) Investments Bonds 18.4 14.3 14.1 Canadian shares 26.2 8.8 8.9 Foreign shares 21.2 8.2 13.2 Mortgages 11.5 12.8 12.6 Specific real estate investments portfolio 0.0 (1.0) 6.6 Short-term investments 5.7 9.7 Contribution from tactical investments ($74.3 million)' 0.2 Total return 19.1 11.9 11.9 CUL rent rate of return= 9.9 9.4 10.0 ' Contribution is based on the market value of total investments. 2 The current rate of return is calculated at cost while the other rates of return are calculated at market value using the time- weighted method. ANNUAL INTEREST OR INCOME El PAID OUT ON AVERAGE DEPOSITS (RATE IN PERCENTAGE) CATEGORIES OF DEPOSITS 1993 1992 Demand deposits' 4.846 6.717 Terni deposits' 5.022 5.995 Participation deposits' 9.915 7.547 The General Fund receives demand and term deposits from depositors and pays out interest on these deposits. The rate indicated is the average rate paid out during the year. Income earned on the investments of the Caisse's General Fund and Individual Funds is paid out or allocated to participation deposit holders. The rate indicated is the average annual rate. The rate represents only the income accounted for during the year on depositors' investments. It does not account for the change in the market value of investments. For purposes of this calculation, participation deposits are computed at cost. The rate is different from the time-weighted rate of return which includes both income and changes in the market value of investments. SUM MARY OF INVESTMENTS AS AT DECEMBER 31. 1993 (IN MILLIONS OF DOLLARS, Markc t Breakdown of portfolios Par Market Cost Return' Net value value value at cost change % (market value) Bonds Domestic securities Government issued 21.78 Gouvernement du Québec 9,549.7 10,158.6 9,285.6 8.9 1,985.4 4.26 Government of Canada 1,777.7 1,988.4 1,953.7 6.4 (315.9) 0.09 Other governments 39.6 44.2 42.7 6.6 26.1 26.13 11,367.0 12,191.2 11,2132.0 8-5 1,695.6 Government guaranteed Gouvernement du Quebec 13.56 Hydro-Quebec 6,450.9 6,326.1 5,767.3 8.8 1,557.1 0,94 Other 360.2 436.4 362.7 10.7 15.2 0.22 Government of Canada 83 5 103.8 90.7 9.3 (4,0) 0.16 Other governments 67,0 74.1 71.2 7.2 6.4 14.88 6,961.6 6,940.4 6,291.9 8.9 1,574.7 Guaranteed by grants 0.26 Colleges 101.0 120.9 105.8 9.7 23.9 0.95 Hospitals 364.6 442.1 375.6 10,2 38.8 0.21 Universities and affiliated schools 79.8 96.0 84.9 9.4 29.6 0.04 Social service centres 13.8 17.1 14.1 11.0 4.8 1.15 School boards 435.8 536.7 442.8 11.2 43.9 0.01 Other 3.6 4.7 3.6 13.3 0.3 2.62 998.6 1,217.5 1,026.8 10.5 141.3 Municipalities and school boards 2.38 Municipalities and municipal bodies 956.9 1,110.3 976.5 9.8 157.0 0.26 School boards 98.8 120 4 102.5 10.2 21.9 2,64 1,055.7 1,230.7 1,079.0 9.8 178.9 0.26 Corporate 154.8 121.7 200.9 4.5 (25.2) 46.53 20,537.7 21,701.5 19,880.6 8.7 3,565.3 Foreign securities 1.66 U.S.