Selected mutual funds are set to be updated in terms of pricing, distribution, strategies, and other aspects
Desjardins Investments (DI) has announced several changes to a number of its mutual funds.
Effective January 2, the firm will implement a 5-bp management fee reduction on selected class units of its Desjardins Global Balances Strategic Income Fund:
DI is also revising the distribution policy for A, C, F, and D class units from “Annual” to “Monthly” to provide investors with a consistent and predictable income distribution. The fixed monthly payment will be determined and reset annually, and the first monthly payment will be made on January 31, 2020.
The firm has also announced a 5-bp management fee reduction for the Desjardins Global Corporate Bond Fund with respect to the following class units:
The role of portfolio sub-manager for the fund will go to Western Asset Management effective January 14, 2020. The fund’s investment strategy will also be amended to employ an active, team-managed investment approach around a long-term, value-oriented investment philosophy, in line with the top-down and bottom-up strategy of Western.
“At Western, we are dedicated to active fixed-income. We believe that active, value-driven investing can add significant return and reduce portfolio volatility over a market cycle,” Annabel Rudebeck, portfolio manager and head of Non-US Credit at Western, said in a statement. “We are very excited to partner with Desjardins for the opportunity to service Canadian investors seeking an active global fixed income strategy.”
A globally integrated fixed-income manager with nine offices worldwide, Western boasts over US$450 billion in assets under management and a reputation for emphasizing team management and intensive proprietary research, supported by robust risk management.
“Western is a highly respected fixed income manager in the world, and Desjardins is honoured and enthusiastic for this new partnership,” said Sébastien Vallée, general manager, Investment Solutions Development and Management at Desjardins Investments. “These changes reflect DI's commitment to offering competitively priced funds while providing access to world-class managers.”
