Montreal, November 26, 2018 - Desjardins Investments Inc. ("DI"), manager of the Desjardins Funds, today announced changes to SocieTerra Growth Portfolio (the "Portfolio") and Desjardins Québec Balanced Fund (the "Fund"). These changes are described in detail below.
Proposed changes to the investment objective of SocieTerra Growth Portfolio
The manager announced that it will be seeking the approval of unit holders of the Portfolio in connection with the proposed changes to the Portfolio's investment objective.
It is proposed that the Portfolio's investment objective be amended to read as follows:
- The Portfolio is a strategic asset allocation fund. Its objective is to achieve income as well as a long-term capital appreciation. The Portfolio invests in Canadian and foreign equity and fixed-income securities and/or in units of mutual funds which themselves invest primarily in Canadian or foreign equity and fixed-income securities. The Portfolio follows the responsible approach to investing described in the section on "Responsible Investing" in the first part of the Simplified Prospectus (Part A).
The proposed changes to the investment objective of the Portfolio are intended to increase the geographic diversification of the fund's investment portfolio. The new investment objective will allow to increase exposure to foreign investments to more than 50% of the portfolio. The proposed changes will not, however, change the portfolio's target asset allocation between fixed-income and equity securities, which will remain at 40% and 60% respectively.
Unit holders will be meeting to approve these changes on January 23, 2019. If approved, the changes to the Portfolio's investment objectives will be made effective in February 2019.
Proposed changes to the investment strategies of Desjardins Québec Balanced Fund
The Manager has approved changes to the investment strategies of the Fund in order to invest up to 10% of the fixed-income securities portfolio in securities with a DBRS credit rating of BB or less, or any equivalent credit rating set by another designated rating organization.
However, the fundamental objective of the Fund will remain unchanged.
These changes to the Fund's investment strategies will be made effective in December 2018.
The changes are subject to approval by regulatory authorities. The Manager is not required to implement the changes announced and reserves the right to postpone implementation of some or all of the changes.
Desjardins Funds are not guaranteed, their value fluctuates frequently and their past performance is not indicative of their future returns. Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Desjardins Funds are offered by registered dealers.