(Montreal) Fondaction posted a negative return of 2.8% on Thursday and an overall result of -86.5 million for its 2021-2022 fiscal year ended May 31, which pushed its share value down to 15.02 $.
Posted yesterday at 3:58 p.m.
In comparison, the labor fund had a return of 22.7% and an overall result of 542.4 million in its previous financial year.
Despite everything, Fondaction’s net assets climbed 5.1% to $3.11 billion during the most recent fiscal year, compared to $2.96 billion as of May 31 of last year.
Excluding the tax credits granted to taxpayers upon the acquisition of Fondaction shares, the compounded shareholder returns reach 7.3% for three years, 6.0% for five years and 4.9% for ten years.
The return on development capital investments, focused on sustainable finance, was 5.4%, while other investments lost 8.5%, which Fondaction attributed to “the trend in capital markets “.
During the year, Fondaction welcomed more than 24,700 new shareholders, an increase of 11.4%, bringing their number to 202,918—a new record. It was the first time that the fund had passed the milestone of 200,000 shareholders.
Fondaction contributes to the fight against climate change by investing in companies and funds whose activities help to avoid greenhouse gas emissions. For the last fiscal year, the fund calculates that these projects avoided the equivalent of nearly 1.5 million tonnes of carbon dioxide, an increase of more than 50% compared to the impact obtained in 2019-2020. , he pointed out.