Highlights of the 6-month period ended November 30, 2014:
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Share value reaches $31.36 (an increase of $1.07 over the value since July 2014);
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Comprehensive income of $351 million;
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Six-month return of 3.5%;
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Twelve-month return of 7.4%;
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Net assets increase to $10.5 billion;
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Unsecured risk development capital investments of $240 million in Québec;
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Thirty percent tax credits still in effect for the 2014 tax year. [1]
Montréal, January 5, 2015 - The Fonds de solidarité FTQ today announced a new record for its share value. Now at $31.36, the Fonds share is up $1.07 over the value in effect since July 2014, translating into a 6-month return of 3.5% and a 12-month return (December 1, 2013 to November 30, 2014) of 7.4%. These returns do not take into account the tax credits or RRSP deductions.
Comprehensive income for the six months ended November 30, 2014 is $351 million, resulting in net assets of $10.5 billion. The Fonds invested $240 million in unsecured risk capital in Québec.
“These results testify to the strength of our partner companies and to the soundness of the Fonds’ investment strategies. These companies were able to succeed in a tough economic climate with the Fonds’ help, thanks to the savings of more than 600,000 Quebecers and the tax credits they receive as labour-sponsored fund investors,” said Robert Parizeau, Chairman of the Fonds de solidarité FTQ.
“On my recent tour of Québec’s regions, business owners all identified the lack of access to patient capital as the biggest impediment to their growth. During that tour, I announced that the Fonds de solidarité FTQ was planning to invest $1.6 billion in unsecured risk capital over the next three years and mentioned our recent investments in Maibec, Osisko Gold Royalties and Anges Québec Capital as examples of our commitment in this regard. The Fonds will therefore continue to play a leadership role in growing the economy by investing directly in SMEs and supporting the government’s priorities as needed,” said in turn Gaétan Morin, President and Chief Executive Officer of the Fonds de solidarité FTQ.
More than one way to contribute to the Fonds de solidarité FTQ
There are a number of ways Quebecers can contribute to the Fonds and benefit from the additional 30%[1] in tax credits granted to labour-sponsored fund investors. To get started they can:
- Consult a local representative in their workplace or one of the Fonds’ many field offices, where they can obtain assistance with enrolment and transactions;
- Visit www.FondsFTQ.com, where with just one click they can choose their method of contribution and payment, as well as access their account to make transactions; or
- Contact Shareholder Services at 1 800 567-FONDS (3663).
In its 2014 budget, the Québec government set a limit of $650 million on the value of shares the Fonds de solidarité FTQ can issue and that qualify for the labour-fund tax credits. This means the Fonds may have to stop issuing shares during the fiscal year, in which case the public will be informed by way of a press release.
This limit does not affect shareholders who contribute through one of the Fonds’ systematic saving methods: payroll deduction, contribution negotiated with an employer or pre-authorized withdrawals. These subscriptions will continue to be honoured since the shares have already been set aside.
[1] For contributions made no later than March 2, 2015, if declared for the 2014 tax year. If declared in 2015, the tax credit will be 25% due to the 5% decrease in the federal credit.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds 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 and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
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Information
For media representatives only:
Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile : 514 703-5587
Email: pmcquilken@fondsftq.com
For Fonds de solidarité FTQ shareholders:
Shareholder Services
Fonds de solidarité FTQ
Montréal: 514 383-3663
Québec: 418 628-3663
Toll Free: 1 800 567-3663