Montréal, April 2, 2015 /CNW Telbec/ - Desjardins Investments Inc., the manager of the Desjardins Funds (the "Manager"), announced that it will be seeking the approval of unit holders of the Desjardins Environment Fund (the "Fund") in connection with the proposed changes to the Fund's investment objective.
Proposed changes to the investment objective
It is proposed that the Fund's investment objective be amended to read as follows:
- The objective of this Fund is to provide a long-term capital appreciation by investing primarily in equity and equity-related securities of companies located everywhere in the world, including emerging markets.
The Fund follows the responsible approach to investing by emphasizing environmental factors.
The proposed changes to the investment objective are intended to reduce the environmental impact of investment decisions in the Fund's portfolio. To achieve this, the extractive interests in the Fund's portfolio, such as mining, oil and gas companies, will be de-emphasized. Considering the importance of the role such companies play in the Canadian market, the Manager proposes making the investment objective global instead of national in scope. This will ensure adequate diversification of the portfolio's assets while reducing exposure to natural resources.
If the proposed changes are approved, the Fund will be renamed to reflect the new investment objective and the Fund's responsible investment approach. While this is taking place, the Manager will appoint Desjardins Global Asset Management Inc. as manager of the Fund's investment portfolio.
Unit holders will be meeting to approve these changes on May 27, 2015. If approved, the changes to the Fund's investment objectives will be made effective in June 2015.
The Manager reserves the right to postpone to a later date the implementation of the announced changes, or one or several among them, or not to effect such changes.
Created in 1990, the Desjardins Environment Fund was the first responsible investment mutual fund in Québec, and the second in Canada.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world with assets of more than $229 billion. It has been rated one of the 50 Best Employers in Canada by Aon Hewitt. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. In 2014, Desjardins was named the fourth safest bank in North America by Global Finance magazine and the second strongest bank in the world by Bloomberg News.
SOURCE Desjardins Group
For further information: For journalists only: Richard Lacasse, Media Relations, Desjardins Group, 418 835-8444 or 1 866 835-8444, ext. 3163, firstname.lastname@example.org; For investors: Investors Service, 1 866 666-1280