Montreal-based Desjardins Investments Inc. (DI) is trimming fees on six Desjardins mutual funds, the company announced on Thursday.
The reduced management fees will take effect July 9, and reflect the company’s commitment to offering competitively priced funds while providing access to world-class managers, the company says in a news release.
The reductions range from 5 basis points (bps) to as much as 29 bps.
A full list of the affected funds and series can be found in the company’s news release.
DI also announced portfolio management changes for four of its mutual funds.
Montreal-based Desjardins Global Asset Management Inc. will now serve as the sole portfolio manager for Desjardins Dividend Income Fund.
In addition, Montreal-based Fiera Capital Corp. will now serve as the portfolio submanager for the Desjardins Overseas Equity Value Fund while New York City-based Lazard Asset Management LLC will now serve as the portfolio submanager for Desjardins Global Equity Value Fund and Desjardins Emerging Markets Funds.
DI has also approved changes to each investment strategies of the impacted funds, in line with the investment philosophy of their respective portfolio manager and portfolio submanager, but the investment objective of each fund remains unchanged.
Also, the name of Desjardins Overseas Equity Value Fund will change to Desjardins Overseas Equity Fund.
These changes will come in effect on or about July 9.
The changes are subject to approval by regulatory authorities.
https://www.newswire.ca/news-releases/desjardins-investments-announces-management-fee-cuts-for-6-desjardins-funds-and-changes-regarding-the-portfolio-management-of-certain-desjardins-funds-684836271.html