Fondaction announces a negative return of 2.8% over the past year

Fondaction announces a negative return of 2.8% over the last year; e

BET À DAY

The Foundation investment fund on Thursday announced a slight decline of 2.8% in its return for the 12-month period ended May 31.  

The net result brings the share value to $15.45, contrasting with the strong growth of 22.7% observed a year earlier. 

Net assets rose 5.1%, from $1.96 billion to $3.11 billion year over year, according to Fondaction, which crossed the 200,000 mark shareholders. 

As at May 31, Fondaction had 24,700 new contributors, bringing the number of its shareholders to a record 202,918 shareholders, an increase of 11.4%.

The return on development capital investments (DCI) posted a solid result of 5.4% to reach $1.66 billion during the same period. 

The fund has injected in 2022 more than $309 million in new investments in development capital, venture capital, mezzanine debt and in the real estate sector. in Québec companies and on markets f financial instruments according to a sustainable finance strategy, makes it a more resilient savings vehicle in a context of volatility,” said Geneviève Morin, President and CEO of Fondaction.