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MARCH 27, 2014 SIMPLIFIED PROSPECTUS No securities regulatory authority has expressed an opinion about these units and shares and it is an offence to claim otherwise. The Funds and the units of the Funds offered under this Simplified Prospectus are not registered with the United States Securities and Exchange Commission and they are sold in the United States only in reliance on exemptions from registration. Where a Fund’s units or shares are not designated as a particular class or series, they shall be considered the same as A-Class units of a Trust Fund, or Series A Shares of a Corporate Fund. Desjardins Global Small Cap Equity Fund What Are the Risks of Investing in the Fund? Fund Details The main risks pertaining to an investment in the Fund are the following: Type of Fund Global Small and Mid Cap Equity Fund – Currency risk; Date Established A-Class Units: January 12, 2004 I-Class Units: March 23, 2010 C- and F-Class Units: November 25, 2013 – Equity risk; Nature of the Securities Offered A-, I-, C- and F-Class Units – Liquidity risk; Eligibility for Registered Plans Eligible for RRSPs, TFSAs, LIRAs, RRIFs, LIFs, Group RRSPs, DPSPs, SPPs, RLIFs, RLSPs and RESPs The secondary risks pertaining to an investment in the Fund are the following: Portfolio Manager Desjardins Global Asset Management Inc. – Multiple class risk; Portfolio Sub-Manager (“Sub-Manager”) GlobeFlex Capital, L.P. Lazard Asset Management LLC – Emerging markets risk; – Foreign securities risk; – Smaller companies risk. What does the Funds Invest In? Investment Objective The investment objective of the Fund is to achieve long-term capital growth by investing primarily in a diversified portfolio of securities of small capitalization foreign and Canadian companies. Any change in the fundamental investment objective requires unitholder approval by a majority vote at a Meeting called for that purpose. Investment Strategies The assets of the Fund will be invested using the following styles: growth-oriented and relative-value. The growth-oriented sub-manager seeks high growth securities with earnings acceleration that are trading below their fair market values. The relative-value sub-manager seeks securities of issuers which exhibit the following characteristics: a reasonable valuation based on the issuer’s discounted cash flow, sustainable competitive advantages, sound management and presence of a catalyst for price revaluation. The sub-managers’ investment decisions are backed by original research, strict accounting validation and fundamental analysis. The Fund may invest up to 15% of its assets in emerging markets securities. In the event of materially hostile market conditions, each sub-manager reserves the right to depart from its investment strategy to concentrate investments in sheltered securities such as Canadian money market instruments. The Fund may use derivatives for hedging and non-hedging purposes. The Fund may use various instruments to reduce the global risk of the portfolio or improve its return. The Fund may use various derivatives such as options, forwards, futures contracts or swaps for hedging purposes against losses incurred by variations in securities values or exchange rates. The Fund may also use derivatives for nonhedging purposes to gain an exposure to or as a substitute for a stock, region or sector, to reduce transaction costs or to provide enhanced liquidity. Derivatives will only be used in accordance with the requirements of the securities regulations. – Derivatives risk; – Large transactions risk; – Tax policy risk. See “What are the Risks of Investing in a Mutual Fund?” on page 2 in the first part of this document (Part A) for a description of these risks. As at February 28, 2014, the Melodia Balanced Growth Portfolio held 14.88% and the Melodia Diversified Growth Portfolio held 12.00% of the units of the Fund. Who Should Invest in the Fund? Taken individually in a portfolio, this Fund is intended for an investor who has a medium to high tolerance for risk, who is looking for long-term capital appreciation and wishes to add a global small cap equity fund to the portfolio. However, combined with other investment products, this Fund may be suitable for all types of investors, since the proportion of an investor’s portfolio devoted to this Fund will be determined according to his personal tolerance for risk. Distribution Policy Income and capital gains are paid or reinvested at the option of each investor, subject to the following. If the amount to be distributed is less than $50, it will automatically be reinvested in units of the Fund in question. If the units are held in a registered plan, all of the income will be automatically reinvested. The Fund intends to make distributions of income and capital gains in December of each year. Fund Expenses Indirectly Borne by Investors You do not pay the Fund’s expenses directly but they will reduce the Fund’s returns. This table is intended to help you compare the cumulative cost of investing in the Fund with the cost of investing in another fund. It shows how much the Fund would pay in expenses on a $1,000 investment in A-Class units that have a 5% hypothetical annual return, assuming that the management expense ratio (MER) of the Fund, during each given period, remains constant and equal to the Fund’s MER in its last fiscal year. No information is presented under this section regarding C-, R-, F- and S-Class units which do not have a MER for the last fiscal year. Fees applicable to I-Class units are negotiated directly with each investor. Fees and Expenses Payable over (in dollars) 1 Year 3 Years 26 87 5 Years 10 Years 153 347 For more information on the costs of investing in the Fund that are not included in the calculation of the management expense ratio, see “Fees and Expenses Payable Directly by You” on page 19 in the first part (Part A) of this prospectus.