Desjardins Investments (DI) announced Oct. 26 the capping of two Desjardins Funds – the Melodia Very Conservative Income Portfolio and the Chorus II Aggressive Growth Portfolio. They will be closed to new investors effective Oct. 27.

As of Nov. 16, 2020, DI says it will suspend any additional investment in the units of the two portfolios concerned, except for investments made by periodic payments.

Merger

DI also announced that it will merge the Melodia Aggressive Growth Portfolio into the Melodia Balanced Growth Portfolio. Investors will be given 60 days' notice before DI proceeds with the announced merger, which is expected on or about Jan. 22, 2021.

After the merger, all existing optional plans, including pre-authorized chequing, wire transfer, systematic withdrawal or periodic withdrawal plans, will continue under the same terms and conditions in the receiving fund (Melodia Balanced Growth Portfolio).

Effective Oct. 27, 2020, the Melodia Aggressive Growth Portfolio will be closed to new investors. As of Nov. 16, 2020, DI will suspend any additional investment in the units of this fund, except for investments made by periodic payments.

These changes will be made subject to regulatory approval.