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Solidarity fund Assets increase 19 per cent
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Quebec-based Solidarity Fund has grown by nearly one-fifth in the last year. On Sept. 17, Solidarity Fund, the Quebec labour-sponsored fund, announced its assets as of June 30 had grown from $3.86 billion to $4.6 billion, an increase of 19 per cent from a year earlier. The increase is indicative of the growth in the small and medium-sized business sector in Quebec in the past year. Solidarity Chairman Henri Masse said the fund was responsible for maintaining, preserving and creating 93,000 jobs in Quebec. The number of shareholders in the fund grew from 427,000 to 488,000. The fund said it expects to have more than 500,000 shareholders soon. Solidarity Fund is one of five labour-sponsored fund groups that are members of the Alliance of Labour Funds. The SIO includes Alliance members in its list of socially responsible funds because of the Alliance's policy of using social audits to determine the social and environmental characteristics of the companies in which they invest. For more information, visit Fonds de solidarite
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