2023-06-23 13:11:20
The Fonds de solidarité FTQ ended its 2022-2023 fiscal year with an annual return of 4%, while the share value gained $1.40 to reach $54.73.
“The compound annual shareholder returns of the Fund (excluding tax credits), as of May 31, 2023, are 4% for 1 year, 7.4% for 3 years, 6.1% for 5 years and 6.9% for 10 years”, we said in a press release on Friday.
For the fiscal year ended May 31, the overall result was $718 million for some 765,721 Quebecers, including 41,549 new savers, who entrusted part of their savings to the Fonds de solidarité FTQ.
“Thanks to our team and our strategy, we were able to realize a profit of $718 million for our shareholders despite the economic context,” declared Janie C. Béïque, President and Chief Executive Officer of the Fund.
Net assets stabilized at $18.4 billion during the past year, or $1 billion more than the previous year, while the Fund invested $1.2 billion to support the development economy of Quebec.
“With the current economic situation, it is essential to invest in companies that will have as much impact on the economy as on society,” added Ms. Béïque, admitting that there is still work to be done, but “ the Fund is getting ready and ready to go”.
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