MONTREAL, Aug. 30, 2024 /CNW/ - Desjardins Investments Inc. ("DI"), as manager of the Desjardins Funds, announces changes to its mutual fund lineup. The changes, described in detail below, include a reduction of the management fees for certain Desjardins Funds as well as the replacement of the portfolio sub-manager and an amendment to the investment strategies of the Desjardins Enhanced Bond Fund.
DI regularly reviews its mutual fund's offer to ensure they continue to meet the evolving investment needs of financial advisors and investors.
Reduction of Management Fees for 35 Desjardins Funds
DI announces that it will be reducing management fees of 35 Desjardins Funds by up to 20 basis points for certain unit classes. It is anticipated that the reduction of management fees will become effective on or around October 1st, 2024.
These changes reflect DI's commitment to offering competitively priced actively managed investment funds. Below is the list of the unit classes of the Desjardins Funds that are affected:
ACTUAL MANAGEMENT % |
MANAGEMENT % |
REDUCTIONS % |
|
DESJARDINS FUNDS (A-, T-, C- AND R-CLASS UNITS) |
|||
Money Market Fund (A- and C-Class Units) |
0.71 |
0.55 |
(0.16) |
Short-Term Income Fund (A- and C-Class Units) |
0.88 |
0.76 |
(0.12) |
Sustainable Short-Term Income Fund (formerly Desjardins SocieTerra Short-Term |
0.88 |
0.76 |
(0.12) |
Canadian Bond Fund (A- and C-Class Units) |
0.96 |
0.87 |
(0.09) |
Desjardins Sustainable Canadian Bond Fund (formerly Desjardins SocieTerra |
0.96 |
0.87 |
(0.09) |
Enhanced Bond Fund (A- and C-Class Units) |
1.00 |
0.86 |
(0.14) |
Global Total Return Bond Fund (A- and C-Class Units) |
1.19 |
1.09 |
(0.10) |
Sustainable Environmental Bond Fund (formerly Desjardins SocieTerra |
1.19 |
1.09 |
(0.10) |
Global Corporate Bond Fund (A- and C-Class Units) |
1.20 |
1.10 |
(0.10) |
Sustainable Global Bond Fund (formerly Desjardins SocieTerra Global Bond Fund) |
1.39 |
1.19 |
(0.20) |
Floating Rate Income Fund (A- and C-Class Units) |
1.25 |
1.19 |
(0.06) |
Global Tactical Bond Fund (A- and C-Class Units) |
1.39 |
1.19 |
(0.20) |
Global High Yield Bond Fund (A- and C-Class Units) |
1.47 |
1.37 |
(0.10) |
Québec Balanced Fund (A-, T-, C- and R-Class Units) |
1.64 |
1.53 |
(0.11) |
Canadian Equity Income Fund (A-, T-, C- and R-Class Units) |
1.65 |
1.48 |
(0.17) |
Sustainable Canadian Equity Income Fund (formerly Desjardins SocieTerra |
1.65 |
1.48 |
(0.17) |
Canadian Equity Fund (A- and C-Class Units) |
1.65 |
1.48 |
(0.17) |
Canadian Equity Value Fund (A-, T-, C- and R-Class Units) |
1.65 |
1.48 |
(0.17) |
Sustainable Canadian Equity Fund (formerly Desjardins SocieTerra Canadian |
1.65 |
1.48 |
(0.17) |
American Equity Value Fund (A- and C-Class Units) |
1.72 |
1.63 |
(0.09) |
American Equity Growth Fund (A- and C-Class Units) |
1.72 |
1.63 |
(0.09) |
American Equity Growth Currency Neutral Fund (A- and C-Class Units) |
1.72 |
1.63 |
(0.09) |
Sustainable American Equity Fund (formerly Desjardins SocieTerra American |
1.72 |
1.63 |
(0.09) |
Sustainable American Small Cap Equity Fund (formerly Desjardins SocieTerra |
1.87 |
1.73 |
(0.14) |
Sustainable Global Dividend Fund (formerly Desjardins SocieTerra Global Dividend |
1.90 |
1.73 |
(0.17) |
Sustainable Global Opportunities Fund (formerly Desjardins SocieTerra Global |
1.75 |
1.72 |
(0.03) |
Emerging Markets Fund (A- and C-Class Units) |
1.90 |
1.81 |
(0.09) |
Sustainable Emerging Markets Equity Fund (formerly Desjardins SocieTerra |
1.90 |
1.82 |
(0.08) |
Alt Long/Short Equity Market Neutral ETF Fund (A- and C-Class Units) |
1.90 |
1.85 |
(0.05) |
Wise Conservative ETF Portfolio (C-Class Units) |
1.35 |
1.33 |
(0.02) |
Wise Moderate ETF Portfolio (formerly Wise Balanced ETF Portfolio) (C-Class Units) |
1.35 |
1.33 |
(0.02) |
Wise Balanced 50 ETF Portfolio (C-Class Units) |
1.38 |
1.36 |
(0.02) |
Wise Growth ETF Portfolio (C-Class Units) |
1.40 |
1.38 |
(0.02) |
Wise Aggressive ETF Portfolio (formerly Wise Maximum Growth ETF Portfolio) (C- |
1.40 |
1.38 |
(0.02) |
Wise 100% Equity ETF Portfolio (C-Class Units) |
1.45 |
1.43 |
(0.02) |
DESJARDINS FUNDS (F-CLASS UNITS) |
|||
Money Market Fund (F-Class Units) |
0.36 |
0.30 |
(0.06) |
Short-Term Income Fund (F-Class Units) |
0.38 |
0.33 |
(0.05) |
Sustainable Short-Term Income Fund (formerly Desjardins SocieTerra Short-Term |
0.38 |
0.33 |
(0.05) |
Canadian Bond Fund (F-Class Units) |
0.41 |
0.36 |
(0.05) |
Desjardins Sustainable Canadian Bond Fund (formerly Desjardins SocieTerra |
0.41 |
0.36 |
(0.05) |
Enhanced Bond Fund (F-Class Units) |
0.45 |
0.35 |
(0.10) |
Sustainable Environmental Bond Fund (formerly Desjardins SocieTerra |
0.57 |
0.53 |
(0.04) |
Floating Rate Income Fund (F-Class Units) |
0.65 |
0.60 |
(0.05) |
Canadian Equity Income Fund (F-Class Units) |
0.56 |
0.51 |
(0.05) |
Sustainable Canadian Equity Income Fund (formerly Desjardins SocieTerra |
0.56 |
0.51 |
(0.05) |
Canadian Equity Fund (F-Class Units) |
0.56 |
0.51 |
(0.05) |
Canadian Equity Value Fund (F-Class Units) |
0.56 |
0.51 |
(0.05) |
Sustainable Canadian Equity Fund (formerly Desjardins SocieTerra Canadian |
0.56 |
0.51 |
(0.05) |
Sustainable American Small Cap Equity Fund (formerly Desjardins SocieTerra |
0.82 |
0.75 |
(0.07) |
Emerging Markets Fund (F-Class Units) |
0.85 |
0.81 |
(0.04) |
Sustainable Emerging Markets Equity Fund (formerly Desjardins SocieTerra |
0.85 |
0.82 |
(0.03) |
Alt Long/Short Equity Market Neutral ETF Fund (F-Class Units) |
0.90 |
0.85 |
(0.05) |
Wise Conservative ETF Portfolio (F-Class Units) |
0.35 |
0.33 |
(0.02) |
Wise Moderate ETF Portfolio (formerly Wise Balanced ETF Portfolio) (F-Class Units) |
0.35 |
0.33 |
(0.02) |
Wise Balanced 50 ETF Portfolio (F-Class Units) |
0.38 |
0.36 |
(0.02) |
Wise Growth ETF Portfolio (F-Class Units) |
0.40 |
0.38 |
(0.02) |
Wise Aggressive ETF Portfolio (formerly Wise Maximum Growth ETF Portfolio) (F- |
0.40 |
0.38 |
(0.02) |
Wise 100% Equity ETF Portfolio (F-Class Units) |
0.45 |
0.43 |
(0.02) |
DESJARDINS FUNDS (D-CLASS UNITS) |
|||
Money Market Fund (D-Class Units) |
0.46 |
0.30 |
(0.16) |
Short-Term Income Fund |
0.38 |
0.26 |
(0.12) |
Sustainable Short-Term Income Fund (formerly Desjardins SocieTerra Short-Term |
0.38 |
0.26 |
(0.12) |
Canadian Bond Fund (D-Class Units) |
0.46 |
0.37 |
(0.09) |
Desjardins Sustainable Canadian Bond Fund (formerly Desjardins SocieTerra |
0.46 |
0.37 |
(0.09) |
Enhanced Bond Fund (D-Class Units) |
0.50 |
0.36 |
(0.14) |
Global Total Return Bond Fund (D-Class Units) |
0.69 |
0.59 |
(0.10) |
Sustainable Environmental Bond Fund (formerly Desjardins SocieTerra |
0.69 |
0.59 |
(0.10) |
Global Corporate Bond Fund (D-Class Units) |
0.70 |
0.60 |
(0.10) |
Sustainable Global Bond Fund (formerly Desjardins SocieTerra Global Bond Fund) |
0.89 |
0.69 |
(0.20) |
Floating Rate Income Fund (D-Class Units) |
0.75 |
0.69 |
(0.06) |
Global Tactical Bond Fund (D-Class Units) |
0.89 |
0.69 |
(0.20) |
Global High Yield Bond Fund (D-Class Units) |
0.72 |
0.62 |
(0.10) |
Québec Balanced Fund (D-Class Units) |
0.64 |
0.53 |
(0.11) |
Canadian Equity Income Fund (D-Class Units) |
0.65 |
0.48 |
(0.17) |
Sustainable Canadian Equity Income Fund (formerly Desjardins SocieTerra |
0.65 |
0.48 |
(0.17) |
Canadian Equity Fund (D-Class Units) |
0.65 |
0.48 |
(0.17) |
Canadian Equity Value Fund |
0.65 |
0.48 |
(0.17) |
Sustainable Canadian Equity Fund (formerly Desjardins SocieTerra Canadian |
0.65 |
0.48 |
(0.17) |
American Equity Value Fund (D-Class Units) |
0.72 |
0.63 |
(0.09) |
American Equity Growth Fund (D-Class Units) |
0.72 |
0.63 |
(0.09) |
American Equity Growth Currency Neutral Fund (D-Class Units) |
0.72 |
0.63 |
(0.09) |
Sustainable American Equity Fund (formerly Desjardins SocieTerra American |
0.72 |
0.63 |
(0.09) |
Sustainable American Small Cap Equity Fund (formerly Desjardins SocieTerra |
0.87 |
0.73 |
(0.14) |
Sustainable Global Dividend Fund (formerly Desjardins SocieTerra Global Dividend |
0.90 |
0.73 |
(0.17) |
Sustainable Global Opportunities Fund (formerly Desjardins SocieTerra Global |
0.75 |
0.72 |
(0.03) |
Emerging Markets Fund (D-Class Units) |
0.90 |
0.81 |
(0.09) |
Sustainable Emerging Markets Equity Fund (formerly Desjardins SocieTerra |
0.90 |
0.82 |
(0.08) |
* Management fees before taxes. |
Changes to the Desjardins Enhanced Bond Fund
DI announces the replacement of the portfolio sub-manager, Sanford C. Bernstein & Co., LLC ("Sanford C. Bernstein"), by Desjardins Global Asset Management Inc. ("DGAM"), the Portfolio Manager of the Desjardins Funds, who will be responsible for the management of the portfolio assets of the Desjardins Enhanced Bond Fund.
DI anticipates that the replacement of Sanford C. Bernstein by DGAM will become effective on or around November 4, 2024.
In connection with these changes, DI has approved amendments to the investment strategies of the Fund to better reflect the investment philosophy of DGAM as the Portfolio Manager of the Fund. Both the fundamental investment objective and the risk rating of the Fund will however remain unchanged.
The investment strategy of the Fund will be amended to better reflect the new mandate. Key investment strategy includes the following:
- Combining fundamental and quantitative analyses through credit research and economic analysis to validate and optimize the opportunities available in the market;
- Fundamental analysis of the economy and market anticipations establish the portfolio strategy in terms of timeframe, credit risk, interest-rate curve and sector allocation;
- Security selection comes mainly from investment grade Canadian and foreign corporate and governmental issuers;
- The portfolio manager seeks to enhance portfolio returns and increase diversification through the opportunistic investment in corporate issuers.
The above-mentioned changes will be made subject to approval from the regulatory authorities. DI reserves the right to suspend or defer the implementation of said changes 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 $ 39.9 billion in assets under management as at December 31, 2023. DI offers a broad range of investment funds to Canadian investors. In addition, DI is one of the most committed actors in promoting and advancing responsible investment in Canada.
About Desjardins Global Asset Management Inc.
Established in 1998, Desjardins Global Asset Management Inc. ("DGAM") is one of Canada's largest asset managers with in-house expertise in equity, fixed income and real assets (infrastructure, real estate) across a variety of investment vehicles. DGAM manages over $98 billion as of December 31, 2023, in institutional assets on behalf of insurance companies, pension funds, endowment funds, non-profit organizations and corporations across Canada. With offices in Montreal, Quebec City and Toronto, our team of over 90 investment professionals uses a collaborative approach and combines innovation, accessibility and discipline to design solutions tailored to our clients' unique needs. We infuse our cooperative values into our investment process to ensure we are helping our partners and clients' assets grow in a sustainable and responsible manner.
About Desjardins Group
Desjardins Group is the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $422.9 billion as at December 31, 2023. It was named one of the World's Top Female-Friendly Companies by Forbes magazine. 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 their past performance is not indicative of their future returns. Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Desjardins Funds are offered by registered dealers.
Desjardins®, all trademarks containing the word Desjardins, as well as related logos are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.
SOURCE Desjardins Group
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