Desjardins Investments Inc. announces proposed changes to the Desjardins Completion Investment Fund
MONTREAL, Aug. 28, 2014 /CNW Telbec/ - Desjardins Investments Inc., the manager of Desjardins Funds (the "Manager"), announced that it will be seeking the approval of unit holders of the Desjardins Completion Investment Fund (the "Fund"), in connection with proposed changes to the Fund's investment objective.
Proposed changes to the investment objective
It is proposed that the Fund's investment objective be revised to read as follows:
- The objective of this Fund is to provide income and protection against inflation by investing primarily in inflation-indexed fixed-income securities from issuers around the globe.
The proposed changes to the Fund's investment objective are intended to improve the protection against global inflation. The Manager would also like to reduce the Fund's volatility by eliminating the Fund's riskiest asset classes and increasing its exposure to inflation-indexed global bonds.
If the proposed changes are approved, the Fund will be renamed to reflect the new investment objective. While this is taking place, the Manager will appoint BlackRock Financial Management, Inc. as the Fund's sub-portfolio manager.
Unit holders will be meeting on November 4, 2014 to approve these changes. If approved, the changes to the Fund's investment objective would be made effective in November 2014.
Cancellation of R- and S-class units
On or about September 2, 2014, the Fund's R- and S-class units will no longer be offered to new investors or existing unit holders.
Reclassification of T-class units
On or about September 2, 2014, the Fund's T-class units will no longer be offered to new investors.
On or about November 24, 2014, the Fund's T-class units will be reclassified to A-class units.
The Manager reserves the right to defer the implementation of any or all of the announced changes, or to not implement them at all.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fourth largest cooperative financial group in the world with assets of $222 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. 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. The group has one of the highest capital ratios and credit ratings in the industry. It is considered as the fourth safest and strongest bank in North America according to Global Finance magazine and the first according to Bloomberg News. Desjardins Group and the International Co-operative Alliance will co-host the 2014 International Summit of Cooperatives (October 6 to 9) to be held in Quebec City.
SOURCE Desjardins GroupFor further information: For journalists only, Richard Lacasse, Media Relations, Desjardins Group, 418-835-8444 or 1-866-835-8444, ext. 3163, email@example.com; For investors, Investors Service, 1-866-666-1280