The Fonds de solidarité FTQ concluded the first half of its 2024-2025 financial year, on November 30, with a positive return of 7.8%.
The value of the stock reached $63.71, up $4.60 since June 21, which represents a profit of $1.6 billion for the approximately 795,374 savers who have entrusted part of their savings to the Solidarity fund.
Quebecers' nest egg has performed over the last 12 months with a return of 14.1% for one year, 4.5% for three years, 6.6% for five years and 7.3% for 10 years, according to the annual compound results to the shareholder of the Fund, who invested $444 million in the Quebec economy.
“The results revealed today are representative of the evolution of the markets over the last half-year,” Janie Béïque, president and CEO of the Fonds de solidarité FTQ, said in a press release on Monday.
The solid performance for the first half allows the Fonds de solidarité FTQ to invest in several Quebec companies and to make takeovers a priority, while around 1,000 companies will be sold next year.
“Even if economic activity has begun to recover after having slowed down in 2023, various challenges stand in the way of many Quebecers and businesses while the international context brings its share of uncertainties,” said Ms. Béïque .
“In addition to creating value for our savers, we are convinced that the current situation requires us more than ever to provide societal returns that improve our community,” she added.
Business
Canada
