LÉVIS, QC, March 9 /CNW Telbec/ - The Fédération des caisses Desjardins du Québec, the Manager of the Desjardins family of mutual funds, announced the results of unitholder meetings held March 9, 2010.
Unitholders of Desjardins Alternative Investments Fund approved the previously announced proposal to change the Fund's investment objective. The Fund's investment objective will be as follows:
The investment objective of the Fund is to provide both income and long-term capital appreciation by investing primarily, either directly or by investing in units of other mutual funds, in fixed-income securities and income-oriented equity securities of issuers located throughout the world. The Fund aims to provide investors with improved diversification by focusing on asset classes that complement a portfolio made up of traditional asset classes.
Pursuant to this change of investment objective, the Fund will change its name to Desjardins Completion Investments Fund.
Unitholders of Desjardins Northwest Specialty Global High Yield Bond Fund approved the previously announced proposal to merge the Fund with Desjardins Alternative Investments Fund.
Unitholders of Desjardins Enhanced Alternative Investments Fund approved the previously announced proposal to merge the Fund with Desjardins Alternative Investments Fund.
Unitholders of Desjardins Northwest Specialty Equity Fund approved the previously announced proposal to merge the Fund with Desjardins Canadian Small Cap Equity Fund.
And unitholders of Desjardins Fidelity True North(R) Fund and Desjardins Canadian Equity Fund approved the previously announced proposal to merge these two Funds together. Desjardins Canadian Equity Fund, the continuing fund, will change its name to Desjardins Canadian Equity Growth Fund.
It is expected that the change of investment objective along with the changes of name will be implemented on March 18, 2010. As for the mergers, subject to the approval of the concerned regulators, they should be effectuated on May 7, 2010.
The Manager however reserves the right to reschedule implementation of these changes and mergers, or one or more of them, to a later date, or not to proceed with such changes and mergers.
About Desjardins Group
With overall assets of $157 billion, Desjardins Group is the largest cooperative financial group in Canada, and the sixth largest in the world. Drawing on the strength of its caisse network in Québec and Ontario, as well as its subsidiaries, several of which are active throughout Canada, Desjardins offers a full range of financial products and services to its 5.8 million individual and business members and clients. Desjardins Group is also home to a wealth of expertise in property and casualty insurance, life and health insurance, wealth management, services for businesses of all sizes, securities brokerage, venture capital, asset management and secure leading-edge virtual access methods, all part of an integrated offer that is the only one of its kind in Canada. One of the largest employers in the country, Desjardins is backed by the knowledge and skills of its 42,200 employees and the commitment of its 6,258 elected officers. To find out more, consult www.desjardins.com.
SOURCE Desjardins Group
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