I am still filled with this pride and just as convinced of the relevance of the Fonds. Today, as President and Chief Executive Officer, I intend to do everything in my power to keep the Fonds de solidarité FTQ prominently positioned in the minds of Québec savers and entrepreneurs.
As such, I have taken action to speed up the review of our strategic plan in order to ensure that the Fonds better meets companies’ needs. We are also continuing our dialogue with the Government of Québec so that the Fonds’ activities remain in line with the economic priorities of the province. Lastly, since my appointment, I have given all the support necessary to implement the changes to the Fonds’ governance system that were adopted last February by the Board of Directors.
The Fonds de solidarité FTQ will also have to continue to focus on achieving good results for its shareholders. For the financial year ended May 31, 2014, we have delivered results that meet their expectations: with record net earnings of $774 million, we have generated a return of 8.3%, which increased our net assets to a new high of $10.1 billion. The value of the Fonds share reached $30.29, up $2.31 over last year. In addition, the 2014 RRSP campaign was the third largest in our history in terms of amounts collected ($787 million), and we invested $548 million to support Québec companies. Buoyed by these results, the Fonds continues to eloquently demonstrate its relevance.
I would like to thank the Fonds’ employees and the 2,000 or so local representatives (LRs) for their hard work and resilience during difficult times. We are really looking forward to this opportunity to give together a renewed momentum to the Fonds so that it can continue to stimulate Québec’s economic development.
President and CEO