Fondaction Suspends Lump-Sum Contributions Until May 31, 2021
MONTREAL, Jan. 14, 2021 /CNW/ - Effective today, January 14, at 12:01 a.m., and until the end of the fiscal year ending May 31, 2021, Fondaction will no longer accept lump-sum contributions.
Contributions through systematic savings, i.e. via payroll deductions or preauthorized debits, are not affected by this suspension. The systematic savings method is available at any time. Fondaction will accept contributions that those who want to adopt this form of saving, up to a maximum of $416 per month.
People interested in systematic savings are invited to visit the Fondaction website at fondaction.com/REER. Please note that to benefit from payroll deduction, employees must ask their employer to register them for it.
Fondaction must comply with the imposed limit on the number of shares it can issue, which is $290 million for subscriptions during its 2020–2021 fiscal year.
Before investing, for further information in particular on fees, please consult the prospectus at fondaction.com/prospectus.
About Fondaction
A precursor for the past 25 years, Fondaction is the investment fund for those who are actively fostering the positive transformation of Québec's economy, making it more productive, equitable, inclusive and green. As a labour-sponsored fund, Fondaction represents tens of thousands of investors and hundreds of businesses committed to stimulating Québec's progress. It manages net assets of more than 2.61 billion dollars invested in hundreds of businesses and on the financial markets, favouring investments that generate positive economic, social and environmental spinoffs in addition to a financial return. Fondaction helps create and maintain jobs and reduce inequalities while contributing to the fight against climate change. For more information, visit fondaction.com or our LinkedIn page.
SOURCE Fondaction
Julie Cailliau, Director, Communications and marketing, Mobile : 514 462-5512, Email : [email protected]
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