Desjardins Investments Inc. announces the capping as well as the merger of certain Desjardins Funds Français
MONTREAL, Oct. 26, 2020 /CNW Telbec/ - Desjardins Investments Inc. (« DI »), manager of the Desjardins Funds, announces changes to several Desjardins Funds. These changes are described in detail below.
Capping of certain Desjardins Funds
DI announces the capping of two Desjardins Funds, the Melodia Very Conservative Income Portfolio and the Chorus II Aggressive Growth Portfolio. Effective October 27, 2020, both Portfolios will be closed to new investors. As of November 16, 2020, DI will suspend any additional investment in the units of the Portfolios concerned, except for investments made by periodic payments. Investors will be able to contact their advisor to determine which new investments may be suitable for them.
Merger of Melodia Aggressive Growth Portfolio
DI announces that it will merge the Melodia Aggressive Growth Portfolio with the Melodia Balanced Growth Portfolio. This merger has been approved by the Desjardins Funds' Independent Review Committee. The merger will have no tax impact for investors, and they will be given 60 days' notice before DI proceeds with the announced merger. DI intends to proceed with the merger on or about January 22, 2021.
The transferring fund and the receiving fund have similar investment objectives, investment strategies and fee structure. This merger allows DI to simplify its fund lineup.
Transferring Funds |
Receiving Funds |
||||
Melodia Aggressive Growth Portfolio |
Class units |
Total fees charged by the Manager before taxes |
Melodia Balanced Growth Portfolio |
Class units |
Total fees charged by the Manager before taxes |
A and C |
1.97% |
A and C |
1.97% |
||
F |
0.95% |
F |
0.95% |
||
D |
1.27% |
D |
1.27% |
||
After the merger, all existing optional plans, including pre-authorized chequing, wire transfer, systematic withdrawal or periodic withdrawal plans, will continue under the same terms and conditions in the receiving fund.
Effective October 27, 2020, the transferring fund will be closed to new investors. As of November 16, 2020, DI will suspend any additional investment in the units of the transferring fund except for investments made by periodic payments.
These changes will be made subject to regulatory approval. DI reserves the right to postpone the implementation of the changes described above to a later date.
About Desjardins Investments Inc.
Desjardins Investments Inc., manager of the Desjardins Funds, is one of Canada's largest mutual fund manufacturers, with $ 34.1 billion in assets under management. DI offers a broad range of investment funds to Canadian investors and stands out in the industry, among others, through its world-renowned portfolio managers representing more than 20 asset management companies around the world. In addition, DI is one of the most committed actors in promoting and advancing responsible investment in Canada.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the sixth largest in the world, with assets of $349.9 billion. It has been rated one of Canada's Top 100 Employers by Mediacorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the World's Strongest Banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.
Desjardins Funds are not guaranteed, their value fluctuates frequently, and past performance is not indicative of future returns. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Desjardins Funds are offered by registered dealers.
SOURCE Desjardins Group
For further information (media inquiries only): Public Relations, 514-281-7000 or 1-866-866-7000, ext. 5553436, [email protected]
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