The Fonds de solidarité FTQ declared a 4.8% return for the initial six months of its 2021-2022 fiscal period, concluding November 30th.
• What does 2022 hold in store for us: the year of all economic uncertainties?
This robust showing boosts the share value to $55.77—a $2.56 increase since June 30, 2021, and a $6.66 rise since December 31, 2020—yielding a 13.6% annual return for investors.
Net assets also climbed to $18.3 billion.
Furthermore, during the first half of fiscal 2021-2022, the Fonds de solidarité FTQ reported an $848 million profit benefiting its 734,580 investors.
“These outcomes mirror our dedication to securing comfortable retirements for many and fostering sustainable growth for numerous businesses. From Gaspé’s forests to Abitibi-Témiscamingue’s mines, encompassing agrifood, aerospace, life sciences, and emerging technologies, the courage and tenacity of entrepreneurs inspire us,” stated Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ.
Record Investments
The Fund committed $665 million in investments during the first six months of its fiscal year—a record high for a first-half period.
For instance, in the agrifood sector, a $10 million Fund investment modernized Cook it‘s Saint-Laurent facility through operational technology and automation upgrades.
In the aerospace domain, a combined $15 million investment with Export Development Canada (EDC) bolstered the merger of Abipa Canada and France’s Groupe ARM, resulting in ABIPA International, a new global leader in aerospace precision machining.
In forest products, FTQ Gaspésie – Îles-de-la-Madeleine regional solidarity funds injected $4 million into the Saint-Elzéar sawmill for facility modernization. The Fonds and FTQ Laurentides regional solidarity funds also acquired a minority stake in Groupe Crête, a family-run forestry business established in 1948.
