For its financial year ended May 31, 2019, the Fonds de solidarité FTQ posted comprehensive income (profit) of $1.134 billion for the benefit of its 694,357 shareholders-savers. Share value is now $43.90, representing an annual shareholder return of 7.8%. Net assets grew to $15.6 billion.
The Fonds’ shareholder's annual compound returns (excluding tax credits) is 7.8% for 1 year, 8.1% for 3 years, 7.7% for 5 years and 7.3% for 10 years.
All asset classes generated positive returns. In particular, the Québec development capital investments portfolio posted a return of 12.4% for the year thanks to the 14.6% return generated by the private securities and specialized funds components.
“Québec overall, and our savers in particular, continue to benefit from this long growth period,” said Fonds President and CEO Gaétan Morin. “However, we must not sit on our laurels because our economy is in transition, meaning there are as many challenges as there are opportunities for businesses and workers. Despite essentially sound economic fundamentals, we must continue to support businesses to make Quebec's economy stronger.”
During the year, the Fonds invested $1.2 billion of development capital in companies impacting the Québec economy. The Fonds and its Fonds régionaux de solidarité FTQ welcomed 107 new partner companies.
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The Fonds’ shareholder's annual compound returns (excluding tax credits) is 7.8% for 1 year, 8.1% for 3 years, 7.7% for 5 years and 7.3% for 10 years.
New announcement dates for financial results
Share value, which is the same for issues, redemptions and purchases-by-agreement, is generally determined twice a year on the basis of the Fonds de solidarité FTQ's net assets as at November 30 and May 31. For the first time, beginning in the current six-month period, and for subsequent six-month periods, the share value will be published through a press release around December 31 and June 30 each year. Previously, the share value was published around January 5 and July 5.
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Please read the prospectus before buying shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained on the Website fondsftq.com, from a local representative or at the offices of the Fonds de solidarité FTQ. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any security holder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.