Net assets grow to $13.7 billion
Montréal, January 5, 2018 – 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.
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.
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.
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“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
Various ways to contribute to the Fonds de solidarité FTQ
Quebecers can contribute to the Fonds in various ways and benefit from the 30% in extra tax credits available to individuals who invest in labour funds. More specifically: