BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

To monitor and control the performance of the Fund, BIC Inc. and the Investment Manager must comply with the objectives set out in the “Statement of Investment Policy and Objectives”. The basic goal underlying the establishment of these guidelines is to ensure that the Fund assets, together with the expected contributions and investment returns are invested in a prudent manner so that the Fund will be sufficient to meet

the obligations of the Plan as they come due. The long-term investment strategy is to invest approximately 36% in bonds, 35% in Canadian equities, 27% in foreign equities and 2% in

cash and cash equivalents.

For other countries , the plans depend on local legislation, the ● activity and other historical practices of the subsidiary.

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• BIC GROUP - 2018 REGISTRATION DOCUMENT •