Highlights for the six-month period ended November 30, 2012:
· Share at $27.20;
· Increase of $0.61 since July 2012;
· Net earnings of $198 million;
· 6 month net return of 2.3%;
· 12 month net return of 4.7%;
· Net assets increase to $8.8 billion;
· No limit on the number of shares that can be issued this year.
Montréal, January 4, 2013 – As it prepares to mark its 30th anniversary, the Fonds de solidarité FTQ (the “Fonds”) today announced an eighth consecutive increase of its share value, which now stands at an all-time high of $27.20, a $0.61 increase since July 2012.
Net earnings for the six months ended November 30, 2012 were $198 million, and net assets grew to a record $8.8 billion. The Fonds’ return for the period is 2.3%, while the return for the 12 month period of December 1, 2011 to November 30, 2012 is 4.7%. The compounded annual return on a shareholder’s investment since the Fonds’ inception in 1983 is 3.6%.
“This eighth straight increase in share value is good news for our owner-shareholders,” said Fonds chairman and FTQ president Michel Arsenault. “Louis Laberge would be proud of the possibilities the Fonds offers Quebecers planning for their retirement, as well as the Fonds’ commitment towards creating good jobs while supporting Québec entrepreneurs. Fonds shareholders have helped create, maintain and protect close to 170,000 jobs here at home and made it possible for our companies to move forward. Driving our economy, that’s what the Fonds has been all about for 30 years.”
“The Fonds de solidarité FTQ has once again managed to hold its own in a tough global economic climate,” added the Fonds’ president and chief executive officer, Yvon Bolduc. “I want to thank our teams, whose vigilance and professionalism are the reason we were able to achieve net earnings of $198 million and a 2.3% return despite these circumstances. We must remain proactive during the semester that has just started. We will continue to deliver on our mission to back Quebec companies in their growth which contributes to job creation.”
Several ways to contribute to the Fonds RRSP
In addition to the Fonds’ local representatives, who are always available to lend a hand with enrolment and account-related operations, Quebecers now have a number of other ways to contribute to their RRSPs and capitalize on the 30% in extra tax credits.
“Nearly 600,000 owner-shareholders now take advantage of the tax breaks that come with a Fonds RRSP to help them build a better retirement,” continued Mr. Bolduc. “This past year, the Fonds went one step further to help Quebecers reach their retirement goals by introducing new online tools to make it even easier to put money aside.”
Workers interested in enrolling in the Fonds de solidarité FTQ during the RRSP period can do so online at CyberFondsFTQ.com. With a single clic, they can use the same website to access their accounts and perform online account-related operations, including subscription and payment methods. Shareholder Services is also standing by at 1 800 567-FONDS (3663), and finally, the Fonds has 59 field offices open until March 1 for those who prefer to enrol in person.
There is no limit on the number of shares the Fonds de solidarité FTQ can issue for the current fiscal year. Any Québec worker can purchase Fonds shares.
An RRSP that pays off
Factoring in the 30% in additional tax credits, a shareholder who invested the same amount each year through payroll deduction would have earned a compounded annual return of 13.4% over seven years and 10% over ten years. Shareholders can also take advantage of RRSP tax savings not included in the return.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving our economy for 30 years. With net assets of $8.8 billion as of November 30, 2012, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. Its investments contribute to the creation and maintenance of jobs in Quebec businesses and favour economic development. The Fonds is a partner, either directly or through its network members, of more than 2,000 companies. With its nearly 600,000 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect close to 170,000 jobs. For more information, visit www.FondsFTQ.com.
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Fonds de solidarité FTQ
Phone: 514 850-4835
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