News for shareholders

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infoaction
January 2010
News for shareholders
News for shareholders
Share value rises $0.30, from $8.93 to $9.23
Fondaction posted a positive return of 3.5% for the first half of its 2009-2010 fiscal year, ended on November 30, 2009.
The share value increased from $8.93 to $9.23, up $0.30 from July 10, 2009. The return for the past twelve months stands
at 4.8%. As a Fondaction shareholder, you obtain a higher portfolio value, in addition to 40% tax credits exclusive to
your labour-sponsored fund, applicable on all new contributions made since June 1, 2009.
Fondaction has taken advantage of the stock market recovery, while continuing to ensure prudent risk management
on the financial markets. Development capital investments with Québec SMEs, where the bulk of Fondaction’s
investments are directed, achieved positive returns despite a consistently harsh economic climate.
As at November 30, 2009, the value of Fondaction’s development capital investments, made or committed,
was $435.6 million; such investments have helped to reduce the impact of the employment crisis in
Québec. The Fund had 90,068 shareholders. Net assets rose 9.9% over the six-month period, to stand
at $638.1 million.
Fondaction’s ability to act hinges on the confidence of thousands of individuals who choose
to entrust their retirement savings to the Fund, while helping to promote sustainable
development in Québec. We want to thank you for this trust. Fondaction is on course with
its twofold objective of providing its shareholders with real capital appreciation and
redoubling its contribution to a stronger, greener, more equitable economy.
Léopold Beaulieu
President and Chief Executive Officer
Lump-sum contributions: Don’t delay!
As contributions to Fondaction are limited to $150 million
this year, Fondaction anticipates having to cease
collection of lump-sum contributions before the end of
the next RRSP period. We therefore encourage you to
make your 2009 contribution today and take advantage
of 40% tax credits, exclusive to Fondaction!
Don’t delay! As illustrated in the table below, you’ll enjoy
some of the most favourable purchasing conditions on
today’s retirement-savings market, thanks to 40% tax
credits and the RRSP deduction:
Contribution Amount
*
Net Cost*
How to contribute
»»» On line, it’s a snap!
Just log on to the website of
your financial institution, add
Fondaction to your payee list
and make your contribution using the seven-digit
reference number on page 2 of your investment
statement. Most financial institutions allow you
to make contributions to Fondaction via the
Internet.
(based on your income)
Minimum
Maximum
$5,000
$589
$1,574
$3,000
$353
$944
$1,000
$118
$315
Based on marginal tax rates between 28.53% and 48.22% and 40% tax credits,
under the tax regulations applicable as at January 1, 2010.
Even if you have reached your RRSP contribution limit, you
can still contribute up to $5,000 and take advantage of
40% tax credits.
RRSP Loan
40%
Tax credits
+ RRSP
»»» By mail
Fill out the additional
subscription form attached to
your investment statement
and enclose it with your cheque made out
to the order of Fondaction. Be sure to write
your contract number on the cheque.
We appreciate your trust!
Short of cash? Take out a competitive rate RRSP loan from the
Caisse d’économie Desjardins Le Chaînon offered exclusively to
Fondaction shareholders.
This year again, you can obtain an RRSP loan from the Caisse d’économie Le Chaînon with
very competitive conditions. The procedure is simple and it even lets you obtain an RRSP loan
at the time of your contribution, from the comfort of your home or office! And you can even
defer repayment of the principal for the first six months.
To apply for a loan or for more information, visit www.fondaction.com.
Payroll deduction: More money in your pocket thanks
to the immediate tax reduction!
Contributing through payroll deduction
(PD), when this option is offered by your
employer, is the best way to save for
retirement. You build a bigger nest egg, by taking
advantage of immediate tax reductions at each
pay period, and it’s so easy!
And with 40% tax credits, exclusive to Fondaction, you
enjoy even greater tax savings! Here are some examples
of contributions through payroll deduction:
Amount Accumulated
Annually
*
Net Amount Deducted Per Pay*
(26 pay periods)
Minimum
Maximum
$5,000
$22.65
$60.52
$3,000
$13.59
$36.31
$1,000
$4.53
$12.10
Don’t wait! Sign up today for PD or ask to
increase your contribution amount!
»»» To subscribe, you can complete an
application form available at
www.fondaction.com, under the forms section.
»»» To increase your PD, you can fill out a request
for change form in the same section.
If PD is not available at your workplace, you
can choose to subscribe through pre-authorized
withdrawals. Simply authorize Fondaction to
withdraw a given amount from your bank
account at regular intervals.
Based on marginal tax rates between 28.53% and 48.22% and 40% tax credits,
under the tax regulations applicable as at January 1, 2010.
www.fondaction.com
To find out more about the 40% tax credits,
online contributions, PD, RRSP loans, etc.,
visit www.fondaction.com. It’s all there! Or feel free to
contact Shareholder Relations, at 1 800 253-6665.
www.REERvert.com
NOTE: This investment is made by way of a prospectus. The prospectus contains
important, detailed information on the securities offered. A copy of the prospectus
can be obtained at Fondaction’s offices or from its website. Investors are
advised to read the prospectus before making an investment decision.
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Income tax receipts
Issuing of Relevé 10 slips
If you subscribed to Fondaction between March 1 and December 31, 2009, you should have received a Relevé 10 slip
in mid-January 2010.
If you subscribed to Fondaction during the first 60 days of 2010 (before March 1, 2010) or if you plan to do so, tax slips will
be sent as follows: if you subscribe by way of a lump-sum payment, a Relevé 10 slip will be issued when your
contribution is deposited. For contributions received by payroll deduction, a Relevé 10 slip will be issued in mid-March.
If you choose to file your tax returns via the Internet, you are not required to submit your Relevé 10 slips. You must retain them
with your records, however, in case of an income tax audit.
new investments
Nexio Technologies specializes
in the integration of information
technologies and provides some
one hundred high-skill jobs in
the Montréal area. A $2.7 million
investment by Fondaction will allow Nexio to intensify the
activities of its Center for the development of innovative
technological products.
Fondaction has invested
$2.2 million in Groupe
Radisson. Founded in 1998,
the Group provides
ambulance services
in the Gaspé, Laurentian and Lanudière regions and
employs close to 200 people. For several years,
Fondaction has worked to consolidate the ambulance
sector through investments in the industry and its
involvement in implementing the worker shareholder
cooperative formula.
Rosmar Packaging Corporation is a North American leader in the folding box, packaging and printing industry.
The company has five plants in Canada and the United States, including Rosmar Litho, which provides work for nearly
200 people in Québec. Fondaction has invested $5 million in this company.
Fondaction and Filaction have invested $500,000 and $400,000 respectively in the start-up of Bleuet
Nordic, in Dolbeau-Mistassini. Bleuet Nordic was created in response to the growing demand, in Québec
and worldwide, for high quality dehydrated blueberries and blueberry juice concentrate. One of the
shareholders in the new company is Bleuets Mistassini, a world leader in the purchase, processing,
freezing and sale of wild and organic blueberries.
Fondaction contributed $850,000 to a financing package aimed at
renewing the share ownership of Mégatex and CBI, two companies in
the Québec City area that are involved in manufacturing awnings,
canvas covers and other temporary shelters.
High-tech firms take
top honours
Four companies funded by Fondaction have
received top honours in the 2009 Deloitte
Technology Fast 50TM awards program. The
Deloitte Fast 50TM is an elite ranking of the
50 fastest-growing technology companies in
Canada, which features a number of
awards.
ProSep took first place in the Deloitte
Fast 50TM. The company, which develops
technologies aimed at reducing the footprint
of the oil and gas industry, was also
recognized in the Deloitte Technology
Green 15TM category as one of Canada’s
15 leading GreenTech companies, and it
received the Leadership Award. Averna, a
global test engineering solutions company,
was ranked by the Deloitte Fast 50TM as the
26th fastest-growing tech firm in Canada and
captured the Jury’s Favourite award for its
achievements. H2O Innovation, a leader
in the design of innovative products for the
environmentally safe treatment of
wastewater, also earned a Deloitte
Technology Green 15TM award. And finally,
HaiVision, delivering advanced audiovisual
communication products for IP network
applications, was awarded the Companiesto-Watch distinction.
In addition, CEO Pascal Pilon and COO
Richard Maltais of Averna, recently won
the coveted Ernst & Young Entrepreneur
of the Year® 2009 Québec Award, in the
technology category.
The Association internationale du logiciel
libre (AI2L) wins the Special Jury Award
at the Mont Blanc Meetings
The Special Jury Award of the Mont Blanc
Meetings, which brings together leaders of
the social economy from around the world,
was presented to AI2L, for the originality of
its approach. AI2L was created by
Fondaction, Filaction, the Caisse d’économie
solidaire Desjardins and three French
organizations: Crédit coopératif, the MACIF
and Chèque Déjeuner. Associated with
UQAM’s Chaire de logiciel libre – Finance
sociale et solidaire [Free software chair –
Social and solidarity finance], AI2L’s mission
is to develop computer systems adapted
to the specific requirements of socially
responsible financing and the social
and solidarity-based economy.
Change of address?
Don’t forget to let us know by filling out the enclosed change
of address notice and returning it to us as soon as possible.
If you wish to receive Fondaction’s news on a more regular
basis you can, log on to our website!
www.fondaction.com