Desjardins Funds announced the implementation of changes to some of its funds

    LEVIS, QC, Jan. 14 /CNW Telbec/ - The Fédération des caisses Desjardins
du Québec, the Manager of the Desjardins family of mutual funds, has
previously announced the implementation of changes to the investment
objectives and names of the Desjardins Dividend Fund, Desjardins CI Value
Trust Corporate Class Fund and Desjardins Ethical Canadian Balanced Fund.
    These changes will be implemented as planned on January 15, 2009 and, in
connection with these changes, the following changes are announced and will be
implemented at the same time:
    Aberdeen Asset Management Inc. ("Aberdeen") has been retained as an
additional portfolio subadvisor to Desjardins Dividend Fund, which will be
renamed "Desjardins Dividend Income Fund", with responsibility for the
management of foreign equity securities. Aberdeen seeks what it has identified
as underpriced securities and combines rigorous company research with
sophisticated risk control measures when assessing investment opportunities.
Aberdeen may use equity related securities such as American Depository
Receipts (ADRs), Global Depositary Receipts (GDRs) and Exchange Traded Funds
(ETFs) to gain exposure to particular markets. The Fund will generally invest
in foreign companies with a minimum capitalization at the time of investment
of approximately US$10 billion.
    Wellington Management Company, LLP ("Wellington") has been retained as
portfolio subadvisor to Desjardins CI Value Trust Corporate Class Fund which
will be renamed "Desjardins American Equity Growth Fund". Wellington favours a
growth management style and invests in securities of all capitalizations that
demonstrate high growth in terms of income and earnings or a significant
potential for growth.
    As for Desjardins Ethical Canadian Balanced Fund, to be renamed
"SocieTerra Growth Portfolio", Desjardins Global Asset Management Inc., the
portfolio advisor, in accordance with the revised investment objective, can
now make direct investments in issuers' securities and is not restricted to
investing through other mutual funds. Therefore the portfolio advisor will
actively choose the securities and / or underlying funds, and determine the
percentage of the Portfolio's assets to be invested in each underlying fund or
security, with regard to the investment objective of the Portfolio. Changes to
the percentages of a security or a fund invested in each portfolio, adding or
removing an underlying fund will be undertaken where the portfolio advisor
believes such changes are advisable to improve the Portfolio's performance.
    Initially, the Portfolio will invest in the following underlying funds
and will be rebalanced accordingly in order to ensure that it remains within
its target allocation range of + / - 2.5% for each underlying fund in the

    Allocations                              %
    Fixed Income
    Ethical Income Fund                     39
    Canadian Growth
    Ethical Canadian Dividend Fund           8
    Desjardins Environment Fund             12
    Ethical Special Equity Fund              5
    Foreign Growth
    Ethical Global Dividend Fund            13
    Ethical American Multi-Strategy Fund     9
    Ethical International Equity Fund       14

    With some $10 billion in assets, the Desjardins Funds are among the
important mutual fund families in Canada. Whether bought individually or
through Diapason or Chorus asset allocation portfolio, Desjardins Funds are
investment products that meet the requirements, expectations and needs of
Desjardins members and clients so as to provide security and growth to their

    About Desjardins Group

    Desjardins Group is the largest cooperative financial group in Canada,
with overall assets of $150 billion, as at September 30, 2008. 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 more than 6,500 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, (514) 281-7229, 1-866-866-7000, ext. 7229,

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