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REGINA, Saskatchewan (March 8, 2012) – Saskatchewan investors have demonstrated their confidence in the strength of the province’s economy by investing a record-breaking $55 million in the SaskWorks Venture Fund in 2012, helping the Fund achieve its second consecutive sell-out year!
The Fund’s unprecedented raise was made possible by the Provincial Government’s recent increase in SaskWorks’ annual fundraising limit from $50 million to $55 million. The increase occurred in response to SaskWorks’ $50 million fundraising season in 2011, the Fund’s proven ability to invest capital in a timely manner, and Saskatchewan residents’ demand for SaskWorks. Despite the increase to the annual fundraising limit, SaskWorks became fully-subscribed prior to the end of RRSP season.
An investment in SaskWorks Venture Fund allows Saskatchewan residents to diversify their portfolio with companies to which they would otherwise not have access: small- and medium-sized, privately-owned Saskatchewan businesses. Through the Provincial Government’s “Invest in Saskatchewan” Program, shareholders are eligible to receive a 35% tax credit on their investment in the Fund.
“Saskatchewan residents want to add a piece of our province to their investment portfolio,” says Michael Fix, Chair of the Fund’s Board of Directors. “SaskWorks is a superb opportunity for Saskatchewan residents to place their investment dollars in local, privately-held companies and participate in a tax-efficient savings strategy.”
Since the Fund’s inception in 2001, SaskWorks has established itself as an industry leader, earning recognition as both the top-performing and top-selling Saskatchewan-based investment fund. “We’ve proven that investing in Saskatchewan works,” says Randy Beattie, SaskWorks’ President and CEO. “The Fund deploys the capital that local businesses need to achieve their growth plans. We’ve created or maintained 3,400 jobs in the province while giving the Fund’s 24,000+ shareholders access to a portfolio that has consistently generated industry-leading returns.”