LEVIS, QC, Feb. 6 /CNW Telbec/ - Desjardins Group announces that the
Desjardins Funds registered -$33.7 million in net sales, bringing its total
assets to $11.8 billion. It must be underlined that, in its preliminary
evaluation for the month of January, the Investment Funds Institute of Canada
(IFIC) reports $685 million in net sales. This discrepancy stems from the
re-engineering of certain funds of funds and co-branded funds with a view to
allowing security sub-advisors to directly acquire securities rather than
limit their activity to those of underlying funds.
As is the case for the great majority of the investment fund industry,
negative net sales are the result of impulsive redemption activity prompted by
the intense market volatility experienced over the last few weeks. "In
January, we registered $175 million in gross sales," stated Marc Dubuc,
Vice-President, Marketing, Desjardins Funds. "However, many investors yielded
to the pernicious effects of the downward market by selling at low cost, while
it would have been preferable, if not to buy, at least to be patient.
Historically, returns have always regained their previous levels in the mid-
or long-term," concluded Marc Dubuc.
About Desjardins Group
Desjardins Group is the largest integrated cooperative financial group in
Canada, with overall assets of $147 billion, as at September 30, 2007. 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 nearly 6,800 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 www.desjardins.com.
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