MONTRÉAL, Feb. 9, 2018 /CNW Telbec/ - The Foundation of Greater Montréal (FGM) received $35.7M in donations in 2017, bringing its Investment Fund assets to $252M. The FGM Investment Fund received a 9.56% return. "The Foundation followed on its 2016 momentum with a performance that again greatly exceeded our predictions," said Yvan Gauthier, president and CEO of the Foundation of Greater Montréal. "Thanks to major donations as well as public and private incentives for the patronage of culture and sports, organizations whose funds are placed at FGM enjoyed more substantial gifts."
An average weighted return of 9.56% for the Investment Fund
The FGM Investment Fund's performance reached 9.56% in 2017, with an average gross return of 9.1% over five years. Over the last five years (2013–2017), the assets managed by the Foundation of Greater Montréal increased significantly, rising from $158.6M to $292M. The number of funds also increased from 407 to 553.
Greater community involvement
"We are also very pleased by the Investment Fund's performance because it leads to faster growth in the revenues and funds of organizations, individuals and companies," said Mr. Gauthier. "This accelerated growth will make it possible to increase the FGM's commitment to all its partners in coming years." Since the publication of its Vital Signs report on children, in the fall of 2017, FGM has solidly committed to supporting the community on issues of hunger, school success, violence, and physical and mental health in Greater Montréal.
About the Foundation of Greater Montréal
The Foundation of Greater Montréal (FGM) proposes a collective model for philanthropy by creating turnkey funds and foundations for individuals, organizations and businesses in Greater Montréal. Currently managing over 500 funds, it offers to advise and help fund creators get involved in the community. Since its creation in 1999, the FGM has become a philanthropic meeting place as well as a major investment lever that can support sustainable projects and initiatives in every sector of society.
SOURCE Foundation of Greater Montreal
For further information: Corinne Adélakoun, Director of Communications, Foundation of Greater Montréal, 514 866-0808, ext. 109, [email protected]