Provincial investment to the max
REGINA — Saskatchewan investors put $55 million in SaskWorks Venture Fund in 2013, the third consecutive sellout three days before the end of RRSP season, the Regina-based labour sponsored investment fund announced Friday.
“Becoming fully- subscribed prior to the end of RRSP season is a strong indicator of Saskatchewan residents’ demand for investment opportunities in our province” said Randy Beattie, SaskWorks president and CEO.
“Last year’s record-breaking fundraising season was followed by one of the strongest 12-month periods of capital placement since the fund’s inception.”
SaskWorks generates capital for investment in Saskatchewan’s small- and medium-sized businesses, while providing a vehicle for residents to invest in the province’s expanding economy.
Through the province’s Invest in Saskatchewan program, shareholders are eligible to receive a 35 per cent tax credit on their investments of up to $5,000 annually.
“WE’VE PROVEN THAT INVESTING IN SASKATCHEWAN WORKS,”
RANDY BEATTIE
In 2012, 100 per cent of the $55 million raised was placed in privately owned companies throughout the province. Since its inception in 2001, SaskWorks has been both the top-performing and top-selling Saskatchewanbased investment fund.
Since 2001, the fund has made 187 investments in 87 companies, invested more than $256 million into Saskatchewan’s economy, and exited 40 companies resulting in proceeds of over $166 million and over $69 million in gains. SaskWorks has over $300 million in assets.
“We’ve proven that investing in Saskatchewan works,” Beattie said. “We’ve created or maintained 3,400 jobs in the province while giving the fund’s 26,000-plus shareholders access to a portfolio that has consistently generated industry-leading returns.”
SaskWorks, managed by Regina-based PFM Capital Inc., offers two share classes: the Diversified share class, which invests primarily in manufacturing, value-added agriculture and oil and gas sectors; and the Resources share class, introduced in 2006, which invests in conventional and renewable energy and mining.