MONTREAL, Jan. 4, 2012 /CNW Telbec/ - The Fonds de solidarité FTQ posted
net earnings of $19 million for the six month period ended November 30,
2011. This translates into a positive 0.2% return, pushing up the share
price to $25.98, a $0.06 increase from May 31, 2011.
The return for the 12-month period (December 1, 2010 to November 30,
2011) is 3.8%.
"Considering the risks threatening the Québec economy, we are satisfied
with our performance in this first half of the fiscal year. The
six-month return of 0.2% and 12-month return of 3.8% is largely due to
the efforts and efficiency of the Fonds' management team. We achieved
this positive return while investing some $546 million to develop the
economy and to create, maintain and protect jobs," said Michel
Arsenault, Chairman of the Fonds de solidarité FTQ Board and President
of the FTQ.
"There are a number of reasons why we managed to hold our own despite
the market volatility and economic uncertainty. First is a good
integrated asset management policy. Our mission-related portfolio,
which invests in Québec SMEs, also did well despite the turbulence. And
our other investments on the financial markets are designed to
complement our private equity strategy, resulting in better risk
management. Although we recorded a small profit, we must keep a close
eye on the economic situation. Québec businesses are overall in good
shape, with solid profits, little debt and good cash flow. But we can't
ignore the risks from abroad," added Fonds CEO Yvon Bolduc.
CyberFondsFTQ.com: a new tool for the 2012 RRSP campaign
Since the Fonds de solidarité FTQ's beginnings in 1983, Québec workers
have been able to count on the network of local representatives to
inform them about the Fonds, and guide them through the enrolment
process and their transactions. The Fonds would not be what it is today
without the dedication of LRs throughout Québec.
Last december, the Fonds launched CyberFondsFTQ.com, a new tool
accessible to all Quebecers which will compliment the work of LRs.
For the first time, workers who want to enrol in the Fonds de solidarité
FTQ during the RRSP campaign will be able to do so by visiting
CyberFondsFTQ.com. Launched in December, CyberFondsFTQ.com offers
Internet users two options: Those who want to purchase Fonds shares
will be able to complete the enrolment form online. With just a few
clicks, they will be able to choose how they want to contribute and pay
for their shares. Existing shareholders will be able to access their
accounts and make their transactions online. The Fonds' local
representatives will be available to assist both current and future
shareholders with the process on CyberFondsFTQ.com.
The Fonds de solidarité FTQ has no restrictions on the number of shares
it can issue in fiscal 2011-2012 and which are available to all Québec
workers. For Internet savvy individuals who wish to purchase Fonds
shares, the Fonds is now just a click away, accessible anytime,
anywhere, any place.
An RRSP that pays off
When the additional 30% in tax credits are factored in at a current
price of $25.98, a Fonds shareholder who invests the same amount every
year through payroll deduction would earn a compound annual return of
12.8% over 7 years and 9.5% over 10 years. This return does not take
into account RRSP tax deductions.
As at November 30, 2011
As at November 30, 2010
Net earnings - 6 months
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $8.2 billion as at May 31, 2011, the Fund is a
development capital investment fund that channels the savings of
Quebecers into investments in all sectors of the economy to help
further Québec's economic growth. The Fund 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.
SOURCE SOLIDARITY FUND QFL
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