Fonds de solidarité FTQ earns $1.1 bln, grows assets to $13.1 bln

Fonds de solidarité FTQ generated nearly $1.1 billion in profits in the fiscal year ending on May 31, marking the first time in its history the firm exceeded the $1 billion level. The Fonds also reported an annual shareholder return of 9.1 percent in this period, which contributed to an increase in net assets under management to $13.1 billion. The Fonds, which provides development capital to mostly private companies located in Québec, also reported investing $873 million in the past year. The Montréal-based investor is led by President and CEO Gaétan Morin.

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