MONTREAL, Sept. 24, 2011 /CNW Telbec/ - The Fonds de solidarité FTQ (the
"Fonds") reported a good year at its 27th Annual Meeting of
Shareholders. Michel Arsenault, Chairman of the Fonds de solidarité FTQ
Board and President of the FTQ, opened the Meeting by expressing his
satisfaction with the results presented in the Annual and Sustainable
"Over $8 billion in net assets. A total of 583,235 owner-shareholders.
Share value of $25.92. And an annual return of 8.8%. The Fonds RRSP
has never been more profitable for its shareholders and for Québec as a
whole, because by investing in the Fonds, Quebecers are preparing for
their retirement while building the Québec of the future," stated
"During this last fiscal year, the Fonds invested $733 million to drive
the local economy. Together with its network, the Fonds now has 2,129
partner companies, helping to create, maintain and preserve close to
161,000 jobs in Québec," added Fonds President and CEO Yvon Bolduc.
"All of the Fonds' investments contribute to the growth and survival of
local companies and help maintain, preserve and create jobs in Québec.
Plus, our continual efforts over the last 28 years to encourage
Quebecers to save and make them understand why it's important to do so
have paid off because our shareholders have developed good savings
habits that are key to their financial well-being, especially at
retirement," continued Mr. Arsenault.
"The Fonds is a one-of-a-kind, innovative and mobilizing force. It's a
solid organization with a significant socioeconomic impact. The Annual
and Sustainable Development Report speaks volumes about the Fonds'
important role and social, economic and environmental impact,"
continued Mr. Bolduc.
Just how big a role the Fonds plays in the Québec and Canadian economies
was recently highlighted in the June 2011 edition of the Financial Post Magazine (FPM) for 2010. In the magazine's ranking of Canada's 500 biggest companies, the Fonds
placed third in Canada and first in Québec in annual profit margins,
and 30th among Canada's largest financial institutions, moving up 21
places since the previous year.
"We are extremely grateful to the Fonds' employees and local
representatives for their work this past year. Without them, the Fonds'
outstanding results, including the FPM ranking, would not have been
possible," concluded Mr. Bolduc.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ and its network help drive our economy. With net assets of $8.2 billion as at May 31, 2011, the Fonds is a
development capital investment fund that through its 16 regional funds
and 87 local funds channels the savings of Quebecers into investments
in all sectors of the economy to help create and maintain jobs and
further Québec's economic growth. The Fonds is a partner, either
directly or through its network members, in 2,129 companies. With its
583,235 owner-shareholders, it has helped, on its own or with other
financial partners, to create, maintain and protect 160,789 jobs. For
more information, visit www.fondsftq.com.
As at May 31, 2011
As at May 31, 2010
SOURCE SOLIDARITY FUND QFL
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