Created in 1996, Fondaction, the Fund of Development of the Confederation of National Syndicate for Cooperation and Employment (CNS), is a fund for workers in Quebec who are part of a network of institutions established by the CNS. Beside its initial mission, of creating and maintaining employment with investments from companies in Quebec, the fund also has the more specific objective to help companies invested in the process of participative management, as well as socially responsible companies (cooperatives, and the like.)
The Fund favours particularly companies interested in the environment, and sustainable development.
Its net assets which reached 581 millions dollars as of May 31, 2009 come from retirement savings of the 87000 share holders.
In February 2009, Fondaction announced the creation of a new real-estate investments fund, “Fonds immobilier Angus” (Angus Real Estate Fund), which intervenes in urban regeneration projects emphasizing a sustainable development approach, with an initial fund base of 30 millions dollars.