Fonds is the largest development capital investment network in Québec
Fonds de solidarité FTQ share value has reached $55.84 for the six-month period ending November 3, 2023, representing a shareholder return of 2.0 percent. This value is up $1.11 over June 23, 2023, and $2.51 over December 23, 2022.
The Fonds is the largest development capital investment network in Québec, which uses the savings and solidarity of Québecers as a vector to support the economy and maintain employment. With net assets of $18.9 billion, it contributes to sustainable economic development and job creation throughout the province and within the aforementioned six-month period, invested $343 million to support the Québec economy.
The Fonds' annual compound shareholder returns (excluding tax credits) as of November 30, 2023, are 4.7% for 1 year, 4.4% for 3 years, 6.1% for 5 years and 6.7% for 10 years.
During its last financial year, more than half of the investments made by the network were to help Québec sellers and buyers in order to ensure the continuity of SMEs in the regions.
"In these uncertain economic times, it's more important than ever to save, invest and believe in us. We know how important it is to take the long view, not only for financial returns but so that our investments can also generate a societal return, in other words, that they create value for the community and make the world a better place. I'm particularly proud of our efforts to support the next generation of entrepreneurs and of our contribution to affordable housing," said Janie Béïque, president and CEO of the Fonds de solidarité FTQ.
Investing in affordable housing
The Fonds immobilier de solidarité FTQ invested in several projects during the first half of the year to create and maintain affordable, social and community housing. Alongside the Government of Québec and the City of Montréal, the Fonds immobilier supported Interloge in the acquisition and renovation of two buildings in the Ahuntsic-Cartierville borough to ensure the long-term affordability of 79 apartments.
In December, the Minister responsible for Housing, France-Élaine Duranceau, announced additional grants totalling $87.5 million to the Fonds de solidarité FTQ and Desjardins for the construction of new social and affordable housing units or the renovation of units in order to ensure the sustainability of affordable rents. This is in addition to the $175 million already granted to the two organizations for housing projects.
“As impact investors, we want to make a difference for the better, including providing a roof over our heads to those who need it most. That's why sustainable real estate is at the heart of our priorities. I am therefore proud that the Fonds de solidarité FTQ is once again partnering with the Government of Quebec, alongside Desjardins, to deliver even more affordable housing as part of our agreement. We are able to quickly deploy projects by presenting concrete solutions, thanks to our many partners in the field and more than 30 years of experience in real estate investment," said Béïque.
