Desjardins nixes corporate-class funds

Montreal-based Desjardins Investments Inc. is closing 14 of its corporate-class mutual funds. The firm states the closures are due in part to changes the federal government introduced in 2016 that affect corporate-class mutual funds. Each of the 14 funds has suspended additional investment and will close officially on or about Nov. 15. Among the affected funds are: Desjardins Money Market Corporate Class; Desjardins Canadian Preferred Share Corporate Class; Desjardins Dividend Growth Corporate Class; Desjardins Canadian Equity Income Corporate Class; Desjardins IBrix Canadian High Dividend Equity Corporate Class; Desjardins IBrix Canadian Equity Focus Corporate Class; and Desjardins Canadian Equity Value Corporate Class. For full details, visit www.desjardins.com.

(fcollie@investmentexecutive.com).