Highlights for the year ended May 31, 2012:
·
Share value increases $0.61 since January 2012 to a record $26.59;
·
Net earnings of $215 million;
·
Net return of 2.6% despite an uncertain economic context, including a 12.5% return for private securities and specialized funds;
·
Net assets at $8.5 billion;
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594,287 owner-shareholders;
·
$767 million in shares issued, an increase of almost 10%;
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$908 million invested in the Quebec economy.
Montréal, July 4, 2012 –
The value of the Fonds de solidarité FTQ share has increased for the seventh consecutive six-month period, up $0.61 from the last period to a new high of $26.59. Net earnings for the year ended May 31, 2012 were $215 million and net assets grew to a record-setting $8.5 billion. The Fonds issued $767 million in shares during this period, an increase of almost 10% over last year, and invested $908 million in the Québec economy. Lastly, 594,287 Quebecers are now owner-shareholders of the Fonds de solidarité FTQ, another milestone for the year ended May 31, 2012.
“Despite the economic uncertainty in Europe and ongoing market volatility, the Fonds de solidarité FTQ once again performed well: creating, maintaining and protecting jobs, contributing to Québec’s development, and helping its owner-shareholders prepare for retirement,” said Fonds chairman and FTQ president Michel Arsenault. “The economy was in a shambles back in 1983 when the Fonds was created. Now, almost 30 years later, it’s pretty clear that the Fonds is an economic catalyst in Québec, thanks to the retirement savings of its owner-shareholders,” continued Mr. Arsenault.
“The 12.5% return generated by our private securities and specialized funds invested in companies impacting the Québec economy is proof of the general strength of this portfolio, emphasized especially this year in uncertain economic conditions,” added the Fonds’ president and CEO, Yvon Bolduc. “The profits from the sale of our stake in Enobia Pharma demonstrate that we were right to keep believing in the life sciences sector.”
“This performance would not have been possible without the hard work of the Fonds’ employees and 2,083 local representatives across Québec. The reason 594,287 Quebecers trust us with their retirement savings is also because of all these people, who work day in, day out, to make Québec a good place to live,” continued Mr. Arsenault.
“The fact that we set a new shareholder record and that contributions are up 10% over last year speaks volumes about the connection and trust Quebecers have in the Fonds de solidarité FTQ, a one-of-a-kind institution in the world. We thank them all and will continue to do whatever it takes to be worthy of their trust,” concluded Mr. Bolduc.
About the Fonds de solidarité FTQ
With net assets of $8.5 billion as at May 31, 2012, the Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs at home and further Québec's development. The Fonds is a partner, either directly or through its network members, in 2,239 companies. With its 594,287 owner-shareholders, the organization has helped, on its own or with other financial partners, to create, maintain or protect 168,577 jobs. For more information, visit
www.CYBERFONDSFTQ.com
.
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Information for media only
Patrick McQuilken
Senior Advisor for Media Relations
and Communications
Fonds de solidarité FTQ
Phone: (514) 850-4835
Mobile: (514) 703-5587
Email:
pmcquilken@fondsftq.com
The Fonds’s social media accounts
Facebook: facebook.com/FondsFTQ
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