MONTREAL, June 21, 2013 /CNW Telbec/ - On June 23, 1983, the Québec
National Assembly unanimously passed a bill to create the Fonds de
solidarité FTQ. Thirty years later, the Fonds is still helping to
create jobs in Québec and encouraging Quebecers to save for retirement.
"The Fonds makes a major contribution to our economic development by
financing companies to help them grow and in turn create and maintain
quality jobs in Québec. That's our mission and we've been working at it
for three decades. It's now been 30 years since then FTQ president
Louis Laberge created the Fonds in an effort to replace confrontation
with cooperation in order to grow the Québec economy. Well, he'd be
proud to see how far the Fonds and its network have come," said Fonds
chairman and FTQ president Michel Arsenault.
"The economy has changed dramatically in the last 30 years but we still
have challenges. Whether it's the growth of Québec businesses,
venturing into new markets or product development, the Fonds de
solidarité is always there. Close to a million Quebecers have been able
to build a nest egg for retirement thanks to the Fonds. The Fonds has
also helped create or maintain half a million jobs during this period,"
pointed out the Fonds' president and chief executive officer, Yvon
"One out of seven Quebecers is a Fonds de solidarité FTQ
shareholder-saver. The Fonds is all the more important when you
consider that 60 % of the population has only government pension plans
to count on for retirement," continued Michel Arsenault.
"In the last 10 years, the Fonds has invested $5.5 billion in unsecured
capital, including $2.1 billion in venture capital. Such investments is
how the Fonds builds for the future today, and the reason we can do
this is because of the confidence our shareholders-savers and Québec
companies have in the Fonds," concluded Yvon Bolduc.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving the Québec
economy for 30 years. With net assets of $8.8 billion as at November 30, 2012, the Fonds 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 and further Québec's development. The Fonds is a partner, either
directly or through its network members, in more than 2,000 companies.
With over 600,000 owner-savers, the Fonds has helped create, maintain
or protect almost 170,000 jobs. For more information, visit www.FondsFTQ.com.
SOURCE: Fonds de solidarité FTQ
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