MONTREAL, Oct. 17 /CNW Telbec/ - Desjardins Financial Security is
changing the name of its funds and adding both new fund managers and a new
fund to its portfolio effective October 29, 2007.
The classic designation of "segregated funds" is being replaced by
"guaranteed investment funds," which is more in line with the nature of the
product and market trends. The new name also reflects the company's commitment
to greater transparency and clarity, as it will begin with the Desjardins
Financial Security acronym DFS, followed by the acronym GIF, which stands for
guaranteed investment fund. From now on, Funds will be identified by the
following designation: DFS GIF - name of fund category - name of asset
manager. The designation Millennia III Funds will no longer be used.
"Using guaranteed investment funds, instead of "segregated fund," is a
concrete way for us to simplify the investment terminology for our clients,"
explained Claude Paré, Senior Director, Product Development and Marketing,
Individual Savings, at Desjardins Financial Security. "This initiative is part
of the company's strategic direction that aims to provide clients with
guidance and support in all their interactions with our company."
Two new managers
Desjardins Financial Security is also pleased to welcome two new fund
managers, Addenda Capital, which specializes in the management of bond
portfolios generally reserved for institutional clients, and UBS Global Asset
Management, a business group of UBS, one of the world's leading financial
services groups. Addenda and UBS will respectively manage the DFS GIF -
Candian Bond - Addenda and the DFS GIF - American Equity - UBS.
One new fund
A new Global Equity Fund managed by Alliance Bernstein, the DFS GIF -
Global Equity - AllianceBernstein, is joining the Desjardins Financial
Security portfolio. AllianceBernstein is a reputable fund manager renowned for
controlling the volatility of its returns as compared to world market returns,
and for its extensive geographic diversification worldwide.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the
largest integrated cooperative financial group in Canada, specializes in
individual and group life and health insurance, as well as retirement savings
products and services. Every day, over 5 million Canadians rely on Desjardins
Financial Security to ensure their financial security. The Company employs
more than 3,700 people and administers over $22 billion in assets from offices
in several cities across the country, including Vancouver, Calgary, Winnipeg,
Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
For further information:
For further information: Isabelle Truchon, Desjardins Financial
Security, (514) 350-8700, ext. 8668, Isabelle.firstname.lastname@example.org;