Fondaction: an annual return of 7% for the stock established at $16.15

Fondaction: an annual return of 7% for the stock established at $16.15
Fondaction: an annual return of 7% for the stock established at $16.15

The share of the Fondaction investment fund stood at $16.15, up $0.91 compared to the value on May 31, 2023, bringing the annual shareholder return to 7%.

Fondaction’s annual compound returns are increased to 1.5% for 3 years, 5.9% for 5 years and 5.1% over 10 years, depending on the fund which welcomed 17,000 new contributors, increasing the number of shareholders to 221,512, or 3.1% more than the previous year.

These returns do not take into account the tax credits that may be granted to taxpayers when acquiring its shares, the CSN investment fund said in a press release on Friday.

During the financial year ended May 31, Fondaction’s net assets grew by 13% to reach $3.377 billion, while share repurchases and over-the-counter purchases totaled $202.5 million during the period considered. , which saw share issuances increased to $389.6 million.

For its part, the gross return on investments in development capital stood at 7% during the same financial year, while other investments in the financial markets generated a gross return of 12.5%.

“Year after year, our results confirm it: we can make investments that have positive social and environmental impacts without compromising on performance,” Geneviève Morin, CEO of Fondaction, said in a press release.

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