2023-12-22 02:19:15
The share price of the Fonds de solidarité FTQ was adjusted upwards by 2% on Thursday to take into account the returns of its portfolio in the first six months of its fiscal year.
The stock thus rose by $1.11, to settle at $55.84. The Solidarity Fund recorded a profit of $377 million in the first half, ending November 30. Excluding tax credits on contributions, the fund generates a return of 4.7% over one year, 6.1% over three years and 6.7% over 10 years.
The FTQ Solidarity Fund claims to have deployed $343 million “to support the Quebec economy” during the six-month period. Its net assets now reach 18.9 billion. The workers’ fund supports nearly 3,700 companies and manages the savings of its 769,459 contributors.
The management expense ratio stands at 0.7%, relatively stable compared to the same period last year.
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