pcJ News Briefs – Fonds de solidarité des travailleurs du Québec (F.T.Q.) (Fonds de solidarité FTQ) today reported comprehensive income (profit) of $506 million for the first six months of its 2017-2018 financial year.
Fonds de solidarité 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.
Fonds de solidarité said it invested $526 million of development capital in companies that have economic spinoffs for Québec for the six-month period ended November 30, 2017.
photo credit: Fonds de solidarité
News Release
Fonds de solidarité FTQ Posts 12-Month Return of 8.9%
Investments in the Québec economy reach $526 million in the first half of financial 2017-2018
Highlights:
12-month shareholder return: 8.9%
6-month shareholder return: 3.8%
Share value at $39.32 (an increase of $1.44 over July 2017 and $3.21 over January 2017)
Comprehensive income (profit) for the 6-month period : $506 million
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.
Quote
“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:
Through the Fonds’ local representatives in the workplace and through its field offices, where they can get help with enrolment and transactions;
On 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 online transactions; or
By calling Saver Services at 1 800 567-FONDS (3663).
Share issue for 2017-2018
As it has been the case in the past, as well as stated in its Short Form Prospectus published last July, the Fonds may limit the number of shares it issues. In light of its capital-raising objectives for the current financial year, the Fonds will announce by press release a share issue cap in the weeks ahead. The announcement will only affect shareholders who make lump-sum contributions. The Fonds will continue to accept deposits from shareholders enrolled in payroll deduction and pre-authorized withdrawals.
In addition, in order to make Fonds de solidarité FTQ shares accessible to the greatest number of shareholders, the Fonds will be limiting annual contributions to $12,500 per shareholder as of January 1, 2018.
Information on the Fonds’ redemption criteria and share issuance can be found in its Short Form Prospectus (34th edition).
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Information for media representatives only:
Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Telephone: 514 850-4835
Mobile: 514 703-5587
Email: pmcquilken@fondsftq.com
Please read the prospectus before buying shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained on the Website fondsftq.com, from a local representative or at the offices of the Fonds de solidarité FTQ. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any securityholder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.