Desjardins announces changes to certain Desjardins Funds

    LEVIS, QC, June 2 /CNW Telbec/ - The Fédération des caisses Desjardins du
Québec, the Manager and Promoter of the Desjardins family of mutual funds, has
announced today changes to certain Desjardins Funds.
    These changes affect the portfolio management of the Desjardins Canadian
Equity Value Fund and Desjardins Alternative Investment Fund. They also
reflect the revision of the risk tolerance level associated with an investment
in each of the SocieTerra Growth and SocieTerra Growth Plus Portfolios.
    With regard to the Desjardins Canadian Equity Value Fund, Tetrem Capital
Management Ltd and LSV Asset Management will remain as sole subadvisors to
Desjardins Global Asset Management Inc. (DGAM). The investment strategies of
the Fund will not be affected by this change which will be made effective on
or about June 8, 2009
    As for Desjardins Alternative Investment Fund, SINOPIA Asset Management
of Paris, France, has been retained as the sole subadvisor to DGAM with
specific responsibility for the management of inflation-linked bonds. Changes
will also be brought to the investment strategies of the Fund. Notably, the
Fund's portfolio advisor, DGAM, will determine the relative weight for each
asset classes and investment strategies based on its predictions 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/or 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. These changes will be made
effective on or about June 8, 2009.
    The Manager reserves the right to reschedule implementation of the
changes described above, or one or more of them, to a later date.
    As for the SocieTerra Growth and SocieTerra Growth Plus Portfolios, the
risk tolerance level associated with an investment in each of those Funds has
been adjusted to better reflect reality. For the SocieTerra Growth Portfolio
the risk tolerance level changes from "moderate" to "low to moderate". And for
the SocieTerra Growth Plus Portfolio it changes from "moderate to high" to

    About Desjardins Group

    Desjardins Group is the largest cooperative financial group in Canada,
with overall assets of close to $160 billion, as at March 31, 2009. 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 42,000
employees and the commitment of its 6,300 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

For further information:

For further information: (for media only): André Chapleau, Director,
Information and Media Relations, Desjardins Group, (514) 281-7229,
1-866-866-7000, ext. 7229,

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