Fondaction mutual fund’s stock was $15 for the six months ended November 30, down 0.01%, but its trailing 12-month yield was -8.9%.
Those returns don’t take into account the 30% tax credit given to taxpayers when they purchase their shares, the CSN mutual fund said in a statement Thursday.
Calculated at the value of his stake, Fondaction’s total return increases to 5.8% over 3 years, 5.3% over 5 years and 4.9% over 10 years, according to the fund, which welcomed 8,000 new contributors and the figure the shareholders increased to 2,029,450 .
At the end of the six-month period, Fondaction’s net worth grew by $140 million to $3.25 billion, while total share repurchases totaled $75 million, up $26.7 million from the same period last year .
“In an economic environment characterized by high inflation and financial market volatility, saving can be difficult for many Quebecers,” said Geneviève Morin, CEO of Fondaction.