(Montreal) Fondaction’s share was set at $ 16.46 on Thursday, up 6.5% in six months, after the release of the workers’ fund’s half-year results.
For the 12-month period ended November 30, the labor-sponsored fund provided an annual return of 17%. The return does not take into account the 30% tax credits on the first $ 5,000 contributed annually.
“Our financial results once again show that return depends on investments that are part of the transformation towards a more equitable, more inclusive, greener and more efficient economy”, comments Geneviève Morin, President and CEO of Fondaction, in a report. communicated.
During the second half of the year, development capital investments produced a gross return of 10.4%. The “other investments” generated a gross return of 4.9%.
During this six-month period, more than 14,000 people joined Fondaction, bringing the number of shareholders to over 194,600. Share issues reached 220.1 million. Net assets, for their part, increased by $ 380.3 million to $ 3.34 billion as of November 30, 2021.
Fondaction’s portfolio includes 188 companies and 87 funds. During the semester, the workers’ fund deployed 160.3 million to 15 new companies and 10 new funds.
Remember that Fondaction suspended, last Monday, the possibility of contributing to the fund by a single payment. The contribution by periodic payment is always available.