The second approach, forged by Working Ventures, is to have union members contacted strategically in various settings by commissioned securities dealers and brokers. Unlike the Fonds de solidarité, most other funds have chosen to enjoin at-arms-length professionals, most of whom are "registered representatives" licensed by the Canadian Securities Institute (which recently added a course chapter on share marketing by labour-sponsored funds). In the case of Working Ventures, commissioned agents, and the separately-incorporated Working Ventures Investment Services, target workers affiliated with the CFL for sales. In Working Opportunity's case, this task is one for the sponsor-owned distributor Working Enterprises Financial Services.

Interestingly, some labour-sponsored funds, such as the Crocus Fund, have integrated these two approaches for annual recruitment drives.

Another mechanism utilized to recruit organized workers is firm-based payroll deduction plans, of which the Fonds de solidarité has an extensive system. Much of this year-round system has been initiated incrementally through collective bargaining at the enterprise level. In 1994, there were 2,076 clauses in collective agreements in Québec industry concerning deductions at source, 638 of which involved an employer payment on behalf of employees.^{Endnote 50} Today, payroll deduction plans constitute nearly 50 percent of the annual capital collection of the Fonds de solidarité.^{Endnote 51}

In some provinces, this effort is facilitated by laws stipulating that employers must implement plans if enough of their employees so request. In Québec, for instance, this is the lesser of 20 percent of the workforce or fifty workers. Even where statutory requirements do not exist (e.g., British Columbia) several funds are pursuing volunteer payroll deduction plans as an alternative to subscription through agents.

For many funds, sales campaigns also provide an opportunity for educating workers and members of the general public about fund principles. For some, such as the Fonds de solidarité, it is also a way of maintaining contact with unionized investors and preventing the institution from becoming too remote from their needs and concerns.

Profile of shareholders

CLMPC research has discovered that various strategies for introducing new investors to capital markets have had an effect. As a consequence of its union-based recruitment method, the Fonds de solidarité has the highest rate of shareholders that are also organized workers - 65 percent in 1994.^{Endnote 52} Despite taking the more conventional route of commissioning agents, however, the other leading funds have also recruited large numbers of union members - the lowest level is one-third of total shareholders. Consequently, of the total 378,600 Canadians owning fund shares in 1995, the CLMPC estimates that 51 percent belong to a union. This is a minimum figure given that most new funds do not currently identify union affiliation as a characteristic in investor statistics.

Surveys of shareholders conducted by the Fonds de solidarité also reveal a substantial representation of persons with average incomes and employment backgrounds. For example, in recent years, the proportion of shareholders in blue collar occupations has been as high as 40 percent. Most of these hold jobs in manufacturing and construction industries.^{Endnote 53}