(Montreal) The action of the Fonds de solidarité FTQ is adjusted down 5.7% to $52.61 on Thursday, while the labor fund unveils results that take into account the drop in the stock and bond markets.
Posted at 8:44 a.m.
The President and Chief Executive Officer of the Fund, Janie C Béïque, underlined, in a press release, that the resilience of private investments, i.e. companies that are not listed on the stock exchange, made it possible to offset the decline in stock market securities and obligations. Private investments earned an annual return of 9.1% during the year ended May 31.
Over one year, the fund obtained a negative return of 1.1%, excluding the tax credit. The annual compound return reaches 6.2% over 3 years, 6.8% over 5 years and 7.1% over 10 years.
During the year, the Fund reported investing $1.4 billion in the Quebec economy, the fifth consecutive year in which this figure exceeded the $1 billion threshold.
The Fund added 24,000 new shareholder-savers to reach 748,371 during the year. Net assets increased by 0.2 billion to 17.4 billion.