Montreal-based Desjardins Investments Inc., manager of Desjardins Funds, will be seeking unitholder approval to change the investment objective of the Desjardins Global Inflation Linked Bond Fund, the investment manager announced Wednesday.
If the change is approved, the fund’s new objective will be to provide an income return and some long-term capital appreciation by investing primarily in fixed-income securities globally. The proposed changes would diversify the fund’s portfolio by investing in more fixed-income sectors while maintaining the quality of the securities in the portfolio, Desjardins said.
If the proposed changes are approved, the fund will be renamed and PGIM, Inc. will be named portfolio sub-manager.
Unitholders will be meeting to approve these changes on June 12. If approved, the changes will be effective in July.