Desjardins Investments has proposed changes to the investment objectives of its Canadian balanced fund, as well as to its Diapason Conservative Portfolio.
It’s proposed the objectives of the Canadian balanced fund be amended to the following:
- The investment objective of the fund is to generate a superior total return by investing mainly in equity and fixed-income securities throughout the world.
- The proportion of the fund’s assets invested in equity and fixed-income securities may fluctuate depending on market conditions.
These changes better reflect the investment strategy of the fund, says Desjardins, namely a tactical management of the asset allocation. If approved, the name of the fund will be amended to reflect the objective changes. Simultaneously, the manager will name Hexavest as sub-manager.
Regarding the Diapason Conservative Portfolio, its objectives will be changed as follows:
- The investment objective of the Fund will be to generate a regular income return and a low long-term capital appreciation by investing mainly in units of mutual funds, which themselves invest in equity and fixed-income securities throughout the world.
The purpose of these is to allow the portfolio of the fund to provide the manager with a wider discretion regarding the types of underlying funds in which they may invest. The manager intends to add underlying funds to the portfolio of the fund in order to increase the regular income return.
In addition, Desjardins wants to merge the Diapason Retirement Portfolio G into the Diapason Retirement Portfolio F. It’s already proceeding with the October 2013 merger of the Diapason Retirement Portfolio E into the Diapason Retirement Portfolio D, and the combining of the Diapason Retirement Portfolio C into the Diapason Conservative Portfolio.
In the latter case, the merger is conditional upon the approval by the unit holders of the Diapason Conservative Portfolio.
The meetings of the unit holders to approve the above changes and the merger will be held on September 18, 2013.