The share price of the Fonds de solidarité FTQ is adjusted upwards by 2%, Thursday, to take into account the returns of its portfolio for the first six months of its fiscal year.
The worker’s fund’s action thus rose by $1.11, or 2%, to settle at $55.84. The Solidarity Fund thus recorded a profit of $377 million during the first half ended November 30.
Excluding tax credits on contributions, the fund generates a return of 4.7% over 1 year, 6.1% over 3 years and 6.7% over 10 years.
The workers’ fund claims to have deployed $343 million “to support the Quebec economy” during the six-month period.
Its net assets now reach $18.9 billion. The FTQ Solidarity Fund supports nearly 3,700 businesses and manages the savings of its 769,459 contributors.
The management expense ratio stood at 0.7%, relatively stable compared to the same period last year.
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