In the first six months of its 2017-2018 financial year, the Fonds de solidarité FTQ posted comprehensive income (profit) of $506 million for the benefit of its 645,000 savers. Share value is now $39.32, for a shareholder return of 3.8% for the six-month period ended November 30, 2017, and a 12-month return of 8.9%. Net assets grew to $13.7 billion.
During the six-month period ended November 30, 2017, the Fonds invested $526 million of development capital in companies that have economic spinoffs for Québec.
“True to its mission, the Fonds de solidarité FTQ continued to follow through on its strategic plan, investing $526 million in the first half of the year, compared to $287 million for the same period last year. We increased our support to key sectors of our economy, notably, by a $50 million commitment to allow Héroux-Devtek to acquire the Spanish-owned company CESA. The Fonds also supported the growth of LeddarTech, a designer and manufacturer of object detection systems based in Québec City, with a $3.9 million investment. The Fonds’ $9.4 million investment in Clementia Pharmaceuticals demonstrates its ongoing commitment to the life sciences industry. We also supported traditional industries, as shown with our $55 million investment in Groupe Vision New Look for the acquisition of Iris.”
Gaétan Morin, President and Chief Executive Officer, Fonds de solidarité FTQ
Contribute to your RRSP+ and get 30% more tax savings compared to a regular RRSP.*
Contribute directly online. It’s fast and easy!
4 other ways to contribute more with the Fonds:
- At work with your LR
- At a point of service
- By phone
- By mail
Shareholder return
The Fonds’ compound annual shareholder return (excluding tax credits) is 8.9% for 1 year, 7.8% for 3 years, 7.6% for 5 years and 4.5% for 10 years.
Share issue for 2017-2018
As it has been the case in the past, as well as stated in its Short Form Prospectus published last July, the Fonds may limit the number of shares it issues. In light of its capital-raising objectives for the current financial year, the Fonds will announce by press release a share issue cap in the weeks ahead. The announcement will only affect shareholders who make lump-sum contributions. The Fonds will continue to accept deposits from shareholders enrolled in payroll deduction and pre-authorized withdrawals.
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.