Modification of the Advance Notice of Change ‒ Closing of 6 Guaranteed Investment Funds (GIFs) postponed

Intermediary Network Sales Support and Expertise October 30, 2020

Last August, Desjardins Insurance announced its intention to permanently close 6 Guaranteed Investment Funds (GIFs) in 2022. However, due to concerns shared by advisors, we have decided to postpone the final closure of these GIFs to a later date. With the exception of this amendment, the content of the advance notices of change sent to clients remains the same.

Fund nameHelios2HeliosMillennia III – New Era (Series 3)Millennia III – Classic ContractMillennia III – First Edition and New Era Contracts (Series 1)IGP
DFS GIF – Diversified Income – Franklin Quotentialxxx   
DFS GIF – Balanced Income – Franklin Quotentialxxx   
DFS GIF – Balanced Growth – Franklin Quotentialxxx   
DFS GIF – Growth – Franklin Quotentialx xx   
DFS GIF – Canadian Equity – Franklin Bissettx xxxx x
DFS GIF – Small Cap – Franklin Bissettx xxx  

However, as announced in the advance notices, these 6 funds will no longer be available for new deposits and exchanges as of November 27, 2020. For more details, please refer to the Questions and Answers document.

Information for advisors

This postponement will give you more time to consider the actions to take with your affected clients and, if their contract is not registered, to better plan the tax implications that may result from the final closure of these GIFs.

In this regard, advisors who have clients with units of one of these funds (registered and non-registered contracts) will receive a list of these clients by email. Sending will begin the week of October 26, 2020 and will take place over a few weeks. The advisors who have the most affected clients will receive their lists first. For any questions, we invite you to contact the GIF Client Service at 1-877-647-5435 or by email at

Our goal is always to offer a range of the most competitive GIFs. Although Desjardins Insurance reserves the right, despite this postponement, to close these GIFs permanently if deemed necessary, rest assured that we will notify you in advance at the appropriate time.

Client communications

Since all contract owners have received an advance notice of change, they will receive the letter announcing the postponement of the fund final closing date:

ContractItem numberExpected mailing date
Helios220164F/ENovember 19, 20 and 23, 2020
Millennia III – New Era (Series 3)20162F/E
Millennia III – First Edition and Millennia III – New Era (Series 1)20161F/E
Millennia III – Classic20160F/E
Imperial Growth Plan20159F/E

Intermediary Network Sales Support and Expertise