MONTREAL, Oct. 14,
2022 /CNW Telbec/ - Desjardins Global Asset
Management Inc. ("DGAM"), acting as manager and portfolio manager
of the Desjardins Exchange Traded Funds ("ETFs"), announces the
launch of the new Desjardins Alt Long/Short Global Equity Markets
ETF comprising two classes of units, the CA$ hedged units ("DAMG")
and the US$ hedged units ("DAMG.U"); and the launch of the new US$
hedged units of the Desjardins Alt Long/Short Equity Market Neutral
ETF ("DANC.U"). The new Fund and the new class of units now join
the Desjardins Alternative ETFs line-up.
The new Fund and the new class of units have each closed the
initial offering of the units listed in the table below and these
units will begin trading on the Toronto Stock Exchange (TSX)
today.
Following the introduction of our Desjardins Alt Long/Short
Equity Market Neutral ETF (DANC), DGAM is pleased to offer
investors a second actively managed alternative ETF whose strategy
seeks to achieve positive returns in both positive and negative
market conditions by investing primarily in long and short
positions on global equity market indices through futures and
ETFs.
The ticker symbols and management fees of the Desjardins
Alternative ETFs' new classes of units that will commence trading
on the TSX today will be as follows:
Exchange Traded
Funds (ETF)
|
Ticker
symbol
(TSX)
|
Management
fee1
|
Desjardins
Alternative ETFs
|
|
|
Desjardins Alt
Long/Short Global Equity Markets ETF – CA$ Hedged Units
|
DAMG
|
1.00 %
|
Desjardins Alt
Long/Short Global Equity Markets ETF – US$ Hedged Units
|
DAMG.U
|
1.00 %
|
Desjardins Alt
Long/Short Equity Market Neutral ETF - US$ Hedged Units
|
DANC.U
|
1.00 %
|
1 The
annual management fees are based on a percentage of the net asset
value of the relevant Desjardins Alternative ETF, and are
calculated daily and payable monthly in arrears, plus applicable
taxes.
|
Desjardins Alt Long/Short Global Equity Markets ETF
(Tickers TSX: DAMG and DAMG.U): The Fund's objective is to achieve
positive returns in both positive or negative equity market
conditions. In order to achieve its investment objectives, the Fund
primarily invests in long and/or short positions on equity index
futures throughout the world and/or equity index ETFs listed in
Canada or in the United States, treasury bills, money
market instruments or other equivalent short term debt securities,
with the objective of maximizing returns with controlled volatility
and while maintaining a low correlation to traditional asset
classes. Foreign currency exposure is generally hedged back to the
currency in which the units are denominated through the use of
currency forward contracts.
Desjardins Alt Long/Short Equity Market Neutral ETF -
US$ hedged units (Ticker TSX: DANC.U): The Fund seeks
to achieve positive returns in both positive or negative equity
market conditions. The Fund is diversified in a number of pairs of
correlated issuers generally within the same industry sector that
neutralize the net market value of long and short positions,
thereby reducing sector biases and market exposure. The Fund
primarily invests, directly or indirectly, in long and short
positions of equity securities of issuers located in Canada and throughout the world, treasury
bills, money market instruments or other equivalent short term debt
securities. Any foreign currency exposure of the portion of
the portfolio of the Fund that is attributable to the US$ Hedged
unit class will be hedged back to U.S. dollars.
To obtain additional information about the Desjardins
Alternative ETFs, visit the manager's website at
desjardinsETF.com.
About Desjardins Group
Desjardins Group is the largest cooperative financial group
in North America and the fifth
largest cooperative financial group in the world, with assets of
$ 404.1 billion. It was named one of
the 2022 Canada's Top 100 Employers by Mediacorp. To meet the
diverse needs of its members and clients, Desjardins offers a full
range of products and services to individuals and businesses
through its extensive distribution network, online platforms and
subsidiaries across Canada. Ranked
among the world's strongest banks according to The Banker
magazine, Desjardins has one of the highest capital ratios and
credit ratings in the industry.
About Desjardins Global Asset
Management (DGAM)
Established in 1998, Desjardins Global Asset Management (DGAM)
is one of Canada's largest asset
managers with in-house expertise in equity,
fixed income and real
assets (infrastructure, real estate) across a variety of
investment vehicles. DGAM manages over
$76 billion CAD (as of June 30,
2022) in institutional assets on behalf of
insurance companies, pension funds, endowment funds,
non-profit organizations and corporations across
Canada.
With offices in Montreal,
Quebec City and Toronto, our team of
over 80 investment professionals uses a
collaborative approach and
combines innovation, accessibility and
discipline to design solutions tailored to our clients'
unique needs. We infuse our cooperative values into our
investment process to ensure we are helping our partners and
clients' assets grow in a sustainable and responsible
manner.
The Desjardins Exchange Traded Funds are not guaranteed,
their value fluctuates frequently and their past performance is not
indicative of their future returns. Commissions, management fees
and expenses all may be associated with an investment in exchange
traded funds. Please read the prospectus before investing.
Desjardins Global Asset Management Inc. is the manager and
portfolio manager of the Desjardins Exchange Traded Funds. The
Desjardins Exchange Traded Funds are offered by registered
dealers.
The Desjardins Alt Long/Short Equity Market Neutral ETF and
the Desjardins Alt Long/Short Global Equity Markets ETF are
alternative mutual funds. They can invest in asset classes or use
investment strategies that are not permitted for other types of
mutual funds. The specific strategies that differentiate these ETFs
from other types of mutual funds include the use of cash borrowings
for investment purposes, short sales and derivatives. Leverage
amplifies gains and losses. While the strategies will be used in
accordance with the ETF's investment objectives and investment
strategies, during certain market conditions they may accelerate
the pace at which your investment decreases in value.
SOURCE Desjardins Group