Photo: Pedro Ruiz Archives The Duty
During the previous fiscal year, Fondaction had achieved a return of 2.8%.
Sustainable development has benefited Fondaction. The institution in quebec has ended its fiscal year 2019-2020, with a return of 3.6 %. The value of the action reaches 12,59 $.
The return of 3.6 % posted by Fondaction in 2019-2020 compared to the 2.8 % achieved during the previous fiscal year. It does not take account of tax credits of 35 % granted to taxpayers during the acquisition of the shares. “In the context of the crisis that has marked the last few months, Fondaction displays financial performance, robust,” wrote the quebec institution.
The Fund has generated a net income $ 85.7 million, compared to 60.5 million during the previous fiscal year. Net assets also increased, by 3.8 %, to 2.26 billion at may 31. The number of shareholders is up 3.4 %, to, 176 488 persons, while the share issues totalled $ increased by 4.2% to reach $ 284,1 million.
“The effects of the health crisis of the COVID-19 are being felt everywhere in the economy and the financial markets, but thanks to the diversification of its portfolio and its choice of investment in companies aiming at a sustainable growth, Fondaction has registered a limited reduction in the value of its action in the second half, of-0.6 %. “For the year, the development capital investments have generated a return of 3.3 %, and other investments, including in green bond and in equity securities without reserve of fossil fuels, have generated a return of 10.4 %, says Fondaction.