LEVIS, QC, Feb. 7 /CNW Telbec/ - Desjardins Group, the largest financial
institution in Québec, announced the abolition of front-end load fees for
members when they purchase external funds or Northwest & Ethical Funds through
the caisse/branch network in Québec and Ontario.
"This new business practice offers greater portfolio management
flexibility to members. For purchases made after January 1 this year, there
will be no initial purchase or load fees on these funds for members. This
means they won't have to keep the funds for seven years in a specific family
of funds to avoid paying redemption fees," said Mr. Pierre Moran, Senior
Vice-President, Consumer Markets at Desjardins.
The Desjardins caisses/branches offer all the major families of mutual
funds in Canada (external funds), in addition to the Desjardins Funds, which
are already offered with no load fees and whose assets are $11.8 billion.
About Desjardins Group
Desjardins Group is the largest integrated cooperative financial group in
Canada, with overall assets of $147 billion, as at September 30, 2007. It
comprises a network of caisses, credit unions and business centres in Québec
and Ontario, and some twenty subsidiary companies in life and general
insurance, securities brokerage, venture capital and asset management, many of
which are active across the country. Drawing on the expertise of its
40,000 employees and the commitment of nearly 6,800 elected officers,
Desjardins offers its 5.8 million individual and corporate members and clients
a full range of financial products and services. Its physical distribution
network is complemented by leading-edge virtual access methods. To find out
more, consult www.desjardins.com.
For further information:
For further information: (for journalists only): Nathalie Genest,
Advisor, Information and Media Relations, (514) 281-7275, 1-866-866-7000, ext.
7275, email@example.com; Our press releases are available in RSS
format at http://www.desjardins.com/en/rss/