Desjardins Group changes to the Desjardins Funds

The Fédération des caisses Desjardins du Québec, manager of the Desjardins family of mutual funds has announced plans to lower limitation the operating expenses of each fund to mirror the taxes presently included in the calculation of the MER Cap.

The manager will change the way the operating expenses limitation of each fund is determined by excluding all taxes applicable to the operating expenses of the funds. This includes the federal goods and services tax (GST), the Québec sales tax (QST) and, as the case may be, the harmonized sales tax (HST).

Desjardins says it expects this change will become effective on or about January 1, 2012.

At the same time, the Fédération des caisses Desjardins du Québec will be replaced as manager, promoter, registrar and transfer agent by Desjardins Investments Inc., provided that entity is registered as mutual fund manager pursuant to applicable securities legislation.

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