Desjardins Investments Inc. announced July 5 that it intends to discontinue selling purchase options with deferred sale charges (DSC) or low load sale charges for units of Desjardins Funds.
The company says these purchase options will no longer be offered as of September 10, 2021, except for purchases made under systematic plans initiated prior to that date. These options will no longer be available for purchases made under systematic plans as of, or around, November 26, 2021. Conversion towards unit purchases with the initial sale charges option for purchases made under systematic plans will also occur as of, or around, November 26, 2021.
Desjardins adds that for current unitholders or those who will acquire Desjardins Funds units under these options prior to September 10, the deferred charges will remain payable upon redemption.
Regulators across the country have moved to ban the DSC option in June 2022.