After a difficult year in 2022, during which it fell by 3.4%, the share of Capital régional et coopératif Desjardins (CRCD) increased by 1.8% in 2023, while the fund recorded a net profit of 44.6 million.
By making public its financial results for the last year on Thursday, CRCD explained that 2023 took place in an uncertain economic context marked by a slowdown that was observed in the investment capital industry.
As of Thursday noon, the share price is set at $17.59, an increase of 31 cents compared to December 31, 2022. Over a period of seven years, the minimum holding period, the compound annual return of the stock stood at 4.1%, to which the tax credit must be added.
In 2023, CRCD’s net assets remained at 2.6 billion. Share subscriptions totaled 59.7 million, while redemptions amounted to 96.8 million.
CRCD claims to have committed 2.3 billion to 759 companies, cooperatives and funds. Of these interventions, 74% are carried out outside of Montreal and Quebec.
The Quebec economic impact investment activity achieved a return of 4.0%. This portfolio, however, was affected by what CRCD described as an “uncertain economic landscape”, “diminishing the profit margins of several portfolio companies and reducing investor appetite for companies in the technology sector”.
For its part, the other investments portfolio posted a return of 5.1%.