The Fonds de solidarité FTQ announced on Friday a return of 4.8% for the first half of the 2021-2022 fiscal year ending November 30.
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This strong performance brings the value of the share to $ 55.77 (+ $ 2.56 since June 30, 2021 and + $ 6.66 since December 31, 2020) and provides the shareholder with a return of 13.6 % for the last year.
Net assets also increased to reach $ 18.3 billion.
Also, for the first six months of the 2021-2022 fiscal year, the Fonds de solidarité FTQ posted a profit of $ 848 million for the benefit of its 734,580 savers.
“Our results are a reflection of our efforts to enable many people to have better retirement and a large number of businesses to have sustainable growth. From the forests of the Gaspé to the mines of Abitibi-Témiscamingue, including agrifood and aerospace, life sciences and new technologies, the daring and perseverance of entrepreneurs inspire us ”, declared Janie C. Béïque, President and Chief Executive Officer of the Fonds de solidarité FTQ.
Record investments
During the first six months of its fiscal year, the Fund made total investments of $ 665 million, a record amount for a first half, it was specified.
In agrifood, for example, a $ 10 million investment from the Fund enabled the Cook it company to modernize its plant located in Saint-Laurent by investing in operational technologies and automation equipment.
As for the aerospace sector, the Fund has invested a total of $ 15 million, with Export and Development Canada (EDC), to support the union between Abipa Canada and the French company Groupe ARM with the aim of forming a new international leader in aerospace precision machining, ABIPA International.
In terms of forest products, the regional solidarity funds FTQ Gaspésie – Îles-de-la-Madeleine invested $ 4 million in the Saint-Elzéar sawmill to modernize its facilities. The Fonds and the regional solidarity funds FTQ Laurentides also became minority shareholders of Groupe Crête, a family forestry company founded in 1948.