Fondaction suspends the acceptance of lump sum subscriptions

MONTRÉAL, Feb. 22, 2024 /CNW/ - As of 07:00 this morning, and until the end of the fiscal year ending May 31, 2024, Fondaction has suspended subscriptions for shares through lump sum contributions.

In the meantime, it is still possible to make new subscriptions through pre-authorized contributions (limited until further notice to a maximum of $416.67 per month) or through payroll deduction.

Individuals who wish to benefit from systematic savings through pre-authorized contributions can visit Fondaction's website at fondaction.com/versement-periodique (site available in French). To benefit from payroll deduction, employees must ask their employer to enroll them.

Fondaction manages its share issuance level to facilitate retirement savings for a growing number of Quebecers within its operational capacity.

There are ongoing costs associated with owning shares in an investment fund. Fondaction shares are not guaranteed. They are an investment whose value and performance will fluctuate, and past performance should not be taken as an indication of future performance. Before investing, please read the prospectus at fondaction.com/prospectus (in French).

About Fondaction
A forerunner for over 25 years, Fondaction is the investment fund for individuals and companies that are mobilizing for the positive transformation of Quebec's economy, making it more equitable, inclusive, green and successful. As a labour-sponsored fund, Fondaction represents tens of thousands of savers and hundreds of companies committed to helping Quebec progress. It manages more than $3.50B in net assets, as at November 30, 2023, invested in hundreds of businesses and on the financial markets, prioritizing investments that generate positive economic, social and environmental spinoffs in addition to a financial return. Fondaction helps maintain and create jobs, reduce inequalities and combat climate change. For more information, visit fondaction.com or our LinkedIn page.

SOURCE Fondaction

Marie-Hélène Lafond, Chief, Dialogue, Public Affairs and External Communications [email protected]