It didn’t take long for the Regina-based SaskWorks Venture Fund to sell out its allocation for the current RSP season.
Normally these funds are busy right till the end of the RSP season at the close of February, trying to fill their annual allocation which stands at $35 million for the 2019 taxation year. But the fund sold out mid-way through January this year, the earliest it ever reached that milestone in its 18 year history.
At a time when some segments of the provincial economy are soft, this is something of a vote of confidence in the long-term opportunities local investors are seeing. Managed by Prairie Financial, the labor-sponsored investment fund acquires equity in Saskatchewan companies, providing both an opportunity for retail investors to become shareholders of local firms and for those Saskatchewan-based companies to secure equity capital here at home. Investors also receive tax incentives on purchases of up to $5000 annually.
The management firm says the quick sell out is likely to carry-over into the next year when sales re-open for 2020 in April.
