Highlights for the year ended May 31, 2012:
Share value increases $0.61 since January 2012 to a record $26.59;
Net earnings of $215 million;
Net return of 2.6% despite an uncertain economic context, including a
12.5% return for private securities and specialized funds;
Net assets at $8.5 billion;
$767 million in shares issued, an increase of almost 10%;
$908 million invested in the Quebec economy.
MONTREAL, July 4, 2012 /CNW Telbec/ - The value of the Fonds de
solidarité FTQ share has increased for the seventh consecutive
six-month period, up $0.61 from the last period to a new high of
$26.59. Net earnings for the year ended May 31, 2012 were $215 million
and net assets grew to a record-setting $8.5 billion. The Fonds issued
$767 million in shares during this period, an increase of almost 10%
over last year, and invested $908 million in the Québec economy.
Lastly, 594,287 Quebecers are now owner-shareholders of the Fonds de
solidarité FTQ, another milestone for the year ended May 31, 2012.
"Despite the economic uncertainty in Europe and ongoing market
volatility, the Fonds de solidarité FTQ once again performed well:
creating, maintaining and protecting jobs, contributing to Québec's
development, and helping its owner-shareholders prepare for
retirement," said Fonds chairman and FTQ president Michel Arsenault.
"The economy was in a shambles back in 1983 when the Fonds was created.
Now, almost 30 years later, it's pretty clear that the Fonds is an
economic catalyst in Québec, thanks to the retirement savings of its
owner-shareholders," continued Mr. Arsenault.
"The 12.5% return generated by our private securities and specialized
funds invested in companies impacting the Québec economy is proof of
the general strength of this portfolio, emphasized especially this year
in uncertain economic conditions," added the Fonds' president and CEO,
Yvon Bolduc. "The profits from the sale of our stake in Enobia Pharma
demonstrate that we were right to keep believing in the life sciences
"This performance would not have been possible without the hard work of
the Fonds' employees and 2,083 local representatives across Québec. The
reason 594,287 Quebecers trust us with their retirement savings is also
because of all these people, who work day in, day out, to make Québec a
good place to live," continued Mr. Arsenault.
"The fact that we set a new shareholder record and that contributions
are up 10% over last year speaks volumes about the connection and trust
Quebecers have in the Fonds de solidarité FTQ, a one-of-a-kind
institution in the world. We thank them all and will continue to do
whatever it takes to be worthy of their trust," concluded Mr. Bolduc.
About the Fonds de solidarité FTQ
With net assets of $8.5 billion as at May 31, 2012, the Fonds de
solidarité FTQ is a development capital fund that channels the savings
of Quebecers into investments in all sectors of the economy to help
create and maintain jobs at home and further Québec's development. The
Fonds is a partner, either directly or through its network members, in
2,239 companies. With its 594,287 owner-shareholders, the organization
has helped, on its own or with other financial partners, to create,
maintain or protect 168,577 jobs. For more information, visit www.CYBERFONDSFTQ.com.
SOURCE FONDS DE SOLIDARITE FTQ
For further information:
for media only
Senior Advisor for Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587
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