The share price of the Fonds de solidarité FTQ is adjusted upwards by 2% on Thursday to take into account the returns of its portfolio for the first six months of its fiscal year.
Shares of the labor fund rose $1.11, or 2%, to $55.84. The Solidarity Fund thus recorded a profit of 377 million during the first half ended November 30.
Excluding tax credits on contributions, the fund generates a return of 4.7% over 1 year, 6.1% over 3 years and 6.7% over 10 years.
The workers’ 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 FTQ Solidarity Fund supports nearly 3,700 businesses and manages the savings of its 769,459 contributors.
The management expense ratio stood at 0.7%, relatively stable compared to the same period last year.
