MONTREAL, March 28, 2013 /CNW Telbec/ - Under the new provisions of the Federal Budget tabled March 20, 2013, the gains realized on the close-out of certain derivative forward agreements will now be treated as ordinary income rather than capital gain.
Desjardins Investments Inc. (DIS) is currently assessing the potential impacts that these changes will have on Desjardins Capital Yield Bond Funds. DIS, which is still waiting for further guidance from the Federal Government on the implementation of these new changes, will no longer be accepting new purchases in the Fund.
These changes will be reflected in an amendment to the Desjardins Funds Simplified Prospectus that will be filed with the Canadian Securities Administrators in the upcoming weeks once all additional information will have been received and analyzed.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada with assets of nearly $200 billion. Drawing on the strength of its caisse network in Québec and Ontario and its subsidiaries across Canada, it offers a full range of financial products and services to its members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. Best Corporate Citizen in Canada for 2012 and among Canada's Top 100 Employers, Desjardins is supported by the skills of its 44,942 employees and the commitment of 5,268 elected officers. Desjardins members and the general public are invited to visit Desjardins Group's education and cooperation program website at www.desjardins.com/co-opme.
SOURCE: Desjardins Group
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