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Desjardins Global Asset Management Inc. and Desjardins ALT Long/Short Equity Market Neutral ETF

2021-12-23 | Decision | Securities Act | Investment funds and structured products | https://www.osc.ca/en/securities-law/orders-rulings-decisions/desjardins-global-asset-management-inc-and-desjardins-alt-longshort-equity-market-neutral-etf

Securities Act, R.S.O. 1990, c. S.5, as am., ss. 62(5).


The Securities Commission has granted an extension of the lapse date for the prospectus of the Desjardins Alt Long/Short Equity Market Neutral ETF (Desjardins ETF) and seven other exchange-traded funds (ETFs) managed by Desjardins Global Asset Management Inc. (the Filer). The extension aligns the lapse date of the Desjardins ETF’s prospectus with that of the other funds, allowing for a consolidated prospectus to be issued, which is intended to reduce renewal costs and streamline disclosure.

The original lapse date for the Desjardins ETF’s prospectus was January 11, 2022. The extension shifts this date to March 15, 2022, to coincide with the lapse date of the other funds’ prospectus. This extension is minimal and deemed not to be disadvantageous to investors.

The Filer has represented that there have been no material changes in the affairs of the Desjardins ETF since the date of the Prospectus, ensuring that the information provided remains accurate. The Filer also commits to amending the prospectus and ETF facts document if any material changes occur.

The decision is based on the Securities Act, R.S.O. 1990, c. S.5, as amended, and related regulations, including Regulation 41-101 respecting General Prospectus Requirements, which set the framework for prospectus lapse dates and renewals.

The Securities Commission has concluded that the exemption sought meets the test set out in the legislation and is not prejudicial to the public interest, thereby granting the requested extension.