Fonds de solidarité FTQ, the prominent investment fund based in Quebec, has reported remarkable financial results for the first half of its 2024-2025 fiscal year.
Ending on November 30, 2024, the fund achieved impressive profits totaling 1.6 billion CAD. This surge translates to significant growth, with the fund's share price climbing by 4.60 CAD, representing a 7.8% increase to settle at 63.71 CAD. Notably, over the past year, the share's value has risen by 14.1%.
The fund's performance over various time frames has also shown strong results: excluding tax credits related to contributions, the annualized returns were recorded at 14.1% for one year, with 4.5% over three years, 6.6% over five years, and 7.3% over ten years. These results exemplify the effective strategies employed by the fund to navigate through complex market landscapes.
A significant aspect of the fund's strategy is its commitment to support the Quebec economy. During this six-month period, Fonds de solidarité FTQ allocated 444 million CAD to various investments, reinforcing its proactive approach toward local development and sustainability in business.
Janie Béïque, the president and CEO of Fonds de solidarité FTQ, highlighted the fund's results, stating, "Les résultats que l’on dévoile aujourd’hui sont représentatifs de l’évolution des marchés au cours du dernier semestre." She emphasized the importance of these findings as reflective of market developments during the timeframe.
Béïque explained the overarching goal of the fund's management philosophy: "Nous sommes convaincus que la situation actuelle nous demande plus que jamais de procurer des rendements sociétaux qui améliorent notre collectivité." This sentiment underlines the fund's dual focus on financial returns and social impact, particularly as many Quebecois businesses encounter various economic challenges.
The fund's net assets have now reached 21.7 billion CAD, demonstrating the robustness of its investment model. With about 795,374 contributors benefiting from its operations, the Fonds de solidarité FTQ actively supports nearly 4,000 enterprises across numerous sectors, enabling growth and innovation within the Quebec region.
Given the anticipated economic changes, particularly with around 1,000 businesses expected to change ownership over the next year, the fund has prioritized entrepreneurship transfer. By facilitating transitions for businesses, the fund reinforces economic stability within local communities and fosters entrepreneurial spirit.
Looking forward, the fund plans to continue its strategic investments and support for businesses aiming for sustainability. They remain committed to adapting to the changing economic environment, ensuring contributions develop not just financially but also socially.
Fonds de solidarité FTQ's positive footprint involves integrating responsible investment strategies, particularly by developing projects within eco-friendly ventures and contributing to social housing initiatives. The fund remains dedicated to creating value, advocating for sustainable business practices, and ensuring decent retirement plans for all Quebec residents.
The exemplary performance of the Fonds de solidarité FTQ during the first half of this fiscal year showcases not just the underlying strength of its investments but also its commitment to social responsibility—ensuring the prosperity of Quebec businesses and communities, both now and for future generations.
