Creation of Class "C" Shares Approved at Special Meeting of Shareholders of the Fonds de solidarité FTQ

The Fonds is looking to further support the Québec economy and savers

LAVAL, QC, May 27, 2019 /CNW Telbec/ - At a Special Meeting held today in Laval, shareholders of the Fonds de solidarité FTQ voted 87,8% in favour of the creation of Class "C" shares.

Following a strategic thinking process, the Fonds wishes to diversify its savings products in order to further support the Québec economy and the Fonds' shareholders, especially those who are in the process of redeeming their shares. More specifically, the Fonds would like to create three mutual funds that will be marketed under the name of FlexiFonds de solidarité FTQ.

In order to remain true to the Fonds' mission to support Québec's businesses and economy, 70% of each fund's assets will be invested in the Québec economy, including 30% in the Fonds' Class "C" shares.

The sale of the new FlexiFonds products is subject to regulatory approval from the Autorité des marchés financiers and will begin gradually once it is obtained.

An information sheet on the proposed three FlexiFonds de solidarité FTQ mutual funds is available here.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $14.8 billion in net assets as at November 30, 2018, the Fonds has helped create and protect over 194,000 jobs. The Fonds has more than 2,800 partner companies and 667,000 shareholder-savers. For more information, visit www.fondsftq.com. 

SOURCE Fonds de solidarité FTQ