OTRAS DROGAS DE ABUSO Y GESTACIÓN:
1.5. JUSTIFICACION DEL TRABAJO E HIPÓTESIS DE TRABAJO.
1.5.1. SATISFACCIÓN MATERNA Y EFECTOS PERINATALES DEL USO DE ANALGESIA EN EL PARTO.
Portfolio held 10.14% 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 tolerance for risk and who is looking for long-term capital appreciation while optimizing the benefits of complete geographic diversification. 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.
The T-, R- and S-Class units will provide regular monthly cash distribution, which consists of net income and/or a non-taxable return of capital. The T-, R- and S-Class units are designed for investors who wish to have additional tax- advantaged income to complement their income from other sources. T-, R- and S-Class units are not eligible for registered plans. T-, R- and S-Class units are referable to the same portfolio of assets as A-, I-, C- and F-Class units.
Distribution Policy
For A-, I-, C- and F-Class units, income and capital gains are paid or reinvested at the option of each investor, the default form of distribution being the reinvested option, subject to the following. If the amount to be distributed to an investor 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. In order to change the form of the distributions, the investor shall communicate with his or her representative.
The Fund intends to make distributions of income and of capital gains in December of each year in respect of A-, I-, C and F-Class units.
T-, R-, and S-Class units will have regular monthly cash distributions comprised of a non-taxable return of capital (ROC) and/or net income made on the last Friday of each month. In December of each year, the Fund will make distributions of capital gains and any previously undistributed income in respect of T-, R- and S-Class units. Exceptional distributions of income and capital gains for these units are automatically reinvested in units of the Fund.
On a purely informational basis, target annual distribution rate for T-, R- and S-Class units is 8% of the security’s net asset value on the last day of the previous calendar year. Any distribution made in excess of the Fund’s net income or net capital gains, will constitute a return of the investor’s capital back to the investor. Returns of capital will reduce the net asset value of the Fund, which could diminish its ability to generate future income.
Desjardins Global Equity Value Fund
(continued) The Fund reserves the right to make additional distributions in the course of a given year, should it deem appropriate, and to adjust the target distribution rate under the appropriate circumstances.The amount of the monthly distribution for T-, R- and S- Class units is adjusted annually, based on the net asset value per unit at the end of the previous calendar year. At the beginning of any calendar year, the revised monthly distribution per unit paid out to unitholders is calculated by multiplying the prescribed distribution rate of 8% with the net asset value per unit at the end of the previous year and dividing the result by 12. The target annual rate for distributions should not be confused with the Fund’s yield rate.
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 the Fund’s 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. Fees applicable to I-Class units are negotiated directly with each investor.
Fees and Expenses Payable
over (in dollars) Year1
3 Years 5 Years 10 Years A-Class units 29 91 160 363 T-Class units 29 90 158 361 C-Class units 28 89 156 355 R-Class units 28 87 153 347 F-Class units 16 49 86 196 S-Class units 15 49 86 195
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 21 in the first part (Part A) of this Prospectus.
74
Desjardins SocieTerra Environment Fund
(formerly Desjardins Environment Fund)Fund Details
Type of Fund Global Equity Fund
Date Established A-Class Units: September 10, 1990 I-Class Units: January 15, 2009 C- and F-Class Units: November 25, 2013 Nature of the
Securities Offered A-, I-, C- and F-Class Units Eligibility for
Registered Plans Eligible for RRSPs, TFSAs, LIRAs, RRIFs, LIFs, Group RRSPs, DPSPs, SPPs, RLIFs, RLSPs and RESPs
Portfolio Manager Desjardins Global Asset Management Inc. What Does the Fund Invest in?
Investment Objective
The objective of this Fund is to provide a long-term capital appreciation by investing primarily in equity and equity-related securities of companies located everywhere in the world, including emerging markets.
The Fund follows the responsible approach to investing described in the section on “Responsible Investing” in the first part of this document (Part A) by emphasizing environmental factors.
Any modification of the fundamental investment objective must be approved by the unitholders by a majority vote at a meeting called for this purpose. Investment Strategies
The Portfolio Manager selects, amongst the securities comprising the MSCI All Country World Index, the securities of issuers with the best environmental performance in each group of sectors. To do so, the manager retains the services of independent specialized firms that assess the environmental impact of these issuers’ operations. Such impact includes greenhouse gas emissions, water consumption, use of land and ecosystems as well as the generation of pollutants and waste.
The Portfolio Manager creates a portfolio that is equal-weight and diversified in terms of industries and geography in accordance with the average historic composition of the index over the last five years. Following a review of the eligibility of the securities, periodic rebalancing shall allow a return to the target sector and geographic weighting as well as equal weighting for the securities comprising the portfolio.
The Fund may invest up to 10% of its assets in emerging markets securities. The Portfolio Manager may use equity-related securities such as American Depositary Receipts (ADRs), Global Depositary Receipts and European Depositary Receipts (GDR-EDRs) as well as exchange-traded funds (ETFs) in order to gain exposure to particular stocks or sectors. Any investment in ETFs must comply with applicable laws and regulations.
In the event of materially adverse market conditions, the Portfolio Manager has the right to depart from the 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 the purposes of hedging against losses incurred by variations in securities values or exchange rates. The Fund may also use derivatives for non-hedging purposes to gain an exposure to or as a substitute for a security, 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.
The Fund may engage in securities lending transactions, in accordance with the requirements of the securities regulations, in order to earn additional revenues. For more information on these transactions, see “Securities Lending Risk” on page 5 in the first part (Part A) of this Prospectus.
It is expected that the Fund will have a high portfolio turnover rate. The Fund’s portfolio turnover rate indicates how actively the Fund’s Sub-Manager manages its portfolio investments. A portfolio turnover rate of 100% is equivalent to the Fund
buying and selling all of the securities in its portfolio once in the course of the financial year. The higher a Fund’s portfolio turnover rate in a financial year, the greater the trading costs payable by the Fund in the period, and the greater the chance of an investor receiving taxable capital gains in the financial year. There is not necessarily a relationship between a high turnover rate and the performance of a fund.
What Are the Risks of Investing in the Fund?
The main risks pertaining to an investment in the Fund are the following: – Currency risk;
– Large transactions risk; – Equity risk;
– Foreign securities risk.
The secondary risks pertaining to an investment in the Fund are the following: – Securities lending risk;
– Derivatives risk; – Tax policy risk; – Multiple class 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 29, 2016, the SocieTerra Balanced Portfolio held 27.45%, the SocieTerra Growth Portfolio held 23.85% and the SocieTerra Growth Plus Portfolio held 15.26% 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 tolerance for risk and who is looking for long-term capital appreciation through exposure to securities of companies located everywhere in the world that exhibit environmental performance superior to their peers. 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, the default form of distribution being the reinvested option, subject to the following. If the amount to be distributed to an investor 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. In order to change the form of the distributions, the investor shall communicate with his or her representative.
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 the Fund’s 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. Fees applicable to I-Class units are negotiated directly with each investor.
Fees and Expenses Payable
over (in dollars) Year1
3 Years 5 Years 10 Years A-Class units 26 82 144 329 C-Class units 24 76 134 305 F-Class units 13 40 70 160
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 21 in the first part (Part A) of this Prospectus.
Desjardins Global Small Cap Equity Fund
Fund Details
Type of Fund Global Small and Mid Cap Equity Fund
Date Established A-Class Units: January 12, 2004 I-Class Units: March 23, 2010
C- and F-Class Units: November 25, 2013 Nature of the
Securities Offered A-, I-, C- and F-Class Units Eligibility for
Registered Plans Eligible for RRSPs, TFSAs, LIRAs, RRIFs, LIFs, Group RRSPs, DPSPs, SPPs, RLIFs, RLSPs and RESPs
Portfolio Manager Desjardins Global Asset Management Inc. Portfolio Sub-Manager
(“Sub-Manager”) Lazard Asset Management LLC
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 modification of the fundamental investment objective must be approved by the unitholders by a majority vote at a meeting called for this purpose. Investment Strategies
The assets of the Fund will be invested by the Sub-Manager using a relative value investment style. The 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-Manager’s 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 adverse market conditions, the Sub-Manager has 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 the purposes of hedging against losses incurred by variations in securities values or exchange rates. The Fund may also use derivatives for non-hedging 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.
What Are the Risks of Investing in the Fund?
The main risks pertaining to an investment in the Fund are the following: – Currency risk;
– Equity risk;
– Emerging markets risk; – Foreign securities risk; – Liquidity risk; – Smaller companies risk.
The secondary risks pertaining to an investment in the Fund are the following: – Derivatives risk;
– Large transactions risk; – Multiple class 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 29, 2016, the Melodia Balanced Growth Portfolio held 12.77% 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, the default form of distribution being the reinvested option, subject to the following. If the amount to be distributed to an investor 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. In order to change the form of the distributions, the investor shall communicate with his or her representative.
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 the Fund’s 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. Fees applicable to I-Class units are negotiated directly with each investor.
Fees and Expenses Payable
over (in dollars) Year1 Years3 Years5 Years10
A-Class units 29 90 158 361
C-Class units 28 89 156 354
F-Class units 15 49 85 194
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 21 in the first part (Part A) of this Prospectus.
76
Desjardins IBrix Low Volatility Emerging Markets Fund
Fund Details
Type of Fund Emerging Markets Equity Fund
Date Established A-, C- and F-Class Units: May 2, 2016 I-Class Units: April 11, 2016 Nature of the
Securities Offered
A-, I-, C- and F-Class Units Eligibility for
Registered Plans
Eligible for RRSPs, TFSAs, LIRAs, RRIFs, LIFs, Group RRSPs, DPSPs, SPPs, RLIFs, RLSPs and RESPs
Portfolio Manager Desjardins Global Asset Management Inc. Portfolio Sub-Manager
(“Sub-Manager”)
Unigestion Asset Management (Canada) Inc.
What Does the Fund Invest in? Investment Objective
The objective of this Fund is to procure long-term capital appreciation while minimizing the portfolio’s volatility as compared to the overall emerging equity markets. To achieve this, the Fund invests primarily in a diversified portfolio of equity and equity-related securities of companies located in emerging markets or whose activities take place in such markets.
Any modification of the fundamental investment objective must be approved by the unitholders by a majority vote at a meeting called for this purpose. Investment Strategies
The management of the Fund’s assets is entrusted to a Sub-Manager who applies the rigorous and systematic investment approach described below.
The Sub-Manager’s management approach combines quantitative modelling and qualitative fundamental assessment. The objective sought is to build a portfolio designed to minimize total exposure while maintaining optimal diversification. The portfolio construction process comprises four steps. First, the Sub-Manager eliminates securities with a potentially unstable risk profile, based on the enterprises’ fundamental data, the securities’ liquidity and certain measures specific to the enterprises. The Sub-Manager then builds the portfolio using quantitative models integrating short- and long-term risk measures, as well as constraints aimed at decreasing the risks of sectoral or