MONTRÉAL, April 30, 2019 /CNW Telbec/ - As of June 1, 2019, individuals who open an account at the Fonds de solidarité FTQ will no longer have to pay the $25 enrolment fee. There will therefore be no more fees directly payable by savers at the Fonds. This decision was made as part of the organization's activity review.
It will be recalled that the Fonds' total operating expense ratio for the year ended May 31, 2018 (the Fonds' last complete fiscal year) was 1.4%. Operating expenses are expenditures incurred in carrying out the Fonds' day-to-day activities and are included in its financial results.
In its last fiscal year, the Fonds was able to keep its total operating expense ratio at a much lower level than the management expense ratio of Canadian balanced funds, which averages about 2.1%.1
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $14.8 billion in net assets as at November 30, 2018, the Fonds has helped create and protect over 194,000 jobs. The Fonds has more than 2,800 partner companies and 667,000 shareholder-savers.
1Source: Bloomberg (based on a sample of 187 Canadian retail balanced funds)
SOURCE Fonds de solidarité FTQ
For further information: For media representatives only: Patrick McQuilken, Senior Advisor, Press Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Mobile: 514 703-5587, Email: [email protected]