LÉVIS, QC, March 18 /CNW Telbec/ - The Fédération des caisses Desjardins du Québec, the Manager of the Desjardins family of mutual funds, has previously announced that changes to the investment objective of Desjardins Alternative Investments Fund, which has been re-named Desjardins Completion Investments Fund (the "Fund"), have been approved by unitholders and will be implemented on March 18, 2010. In connection with these changes, the following changes to the Fund's investment strategy will be implemented at the same time.
Due to previously announced changes to the tax treatment of income trusts which will take effect in January 2011, the Fund will no longer invest in income trusts. The Fund will allocate a portion of its portfolio to two new classes of assets: (a) global infrastructure securities, which represent a potential source for stable returns and (b) global high yield bonds, which provide the prospect of superior income. The addition of these two classes of assets combined with an increased exposure to global real estate investment trusts (REITs) will also enhance the Fund's geographic diversification.
The Fund's portfolio advisor, Desjardins Global Asset Management Inc. (DGAM), will continue to determine the relative weight for each asset class and investment strategy used by the Fund based on its assessment of future market developments and its view of the relative potential of each strategy and asset class. The portfolio advisor may add, revise or delete investment strategies and asset classes from time to time without prior notice to the Fund's unitholders. The Fund may invest in securities of other mutual funds including mutual funds managed by Desjardins. SINOPIA Asset Management of Paris, France, will remain the sole subadvisor to DGAM with specific responsibility for the management of inflation-linked bonds.
Although the Fund may use derivatives for hedging and non hedging purposes, the Fund will not engage in short sale transactions.
About Desjardins Group
Desjardins Group is the largest cooperative financial group in Canada and the sixth largest in the world, with assets of $157 billion. Drawing on the strength of its caisse network in Québec and Ontario, and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.8 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty insurance, in Personal Services, in Business and Institutional Services. As one of the largest employers in the country, Desjardins is supported by the skills of its 42,200 employees and the commitment of over 6,200 elected officers. For more information, visit www.desjardins.com.
SOURCE Desjardins Group
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