Couverture

audited annual FinanCial StateMentSaS at SepteMber 30, 2013

X C1

The accompanying financial statements of Desjardins Funds have been prepared by Desjardins Investments Inc. (the “Manager”), as Manager of the Funds, and have been approved by the Manager’s Board of Directors. The Manager is responsible for the information and representations contained in these financial statements.

The Manager has taken the necessary measures to ensure that relevant and reliable financial information is reported. The financial statements have been prepared in accordance with Canadian generally accepted accounting principles and necessarily include certain amounts that are based on estimates and judgments. The significant accounting policies which the Manager believes are appropriate are described in Note 1 to the financial statements.

The Manager’s Board of Directors is responsible for reviewing and approving the financial statements, the audit process, as well as overseeing the Manager’s performance of its financial reporting responsibilities. External auditors of Desjardins Funds review the financial statements and financial reporting.

PricewaterhouseCoopers LLP are the external auditors of the Desjardins Funds. They have audited the financial statements in accordance with Canadian generally accepted auditing standards for the purpose of expressing to the unitholders their opinion on these financial statements. Their Report is found on page 3.

Desjardins Investments Inc.Manager of the Desjardins Funds

Éric LachaîneChief Operating Officer, Desjardins Investments Inc.Desjardins Group

Sylvie PinardChief Financial Officer, Desjardins Investments Inc.Desjardins Group

December 2, 2013

Management’s Responsibility for financial reporting in the audited annual financial statements

Management’s Responsibilitydirection_efa_en

December 2, 2013

To the unitholders of the:

Desjardins Money Market Fund (A-Class Units)Desjardins Short-Term Income Fund (A- and I-Class Units)Desjardins Canadian Bond Fund (A- and I- Class Units)Desjardins Enhanced Bond Fund (A- and I-Class Units)Desjardins Capital Yield Bond Fund (A- and I-Class Units)Desjardins Tactical Balanced Fund (A- and I-Class Units) (formerly known as Desjardins Canadian Balanced Fund)Desjardins Québec Balanced Fund (A-, T- and I-Class Units)Desjardins Dividend Income Fund (A-, T- and I-Class Units)Desjardins Dividend Growth Fund (A-, T- and I-Class Units)Desjardins Canadian Equity Value Fund (A-, T- and I-Class Units)Desjardins Canadian Equity Growth Fund (A- and I-Class Units)Desjardins Environment Fund (A- and I-Class Units)Desjardins Canadian Small Cap Equity Fund (A- and I- Class Units)Desjardins American Equity Value Fund (A- and I-Class Units)Desjardins American Equity Growth Fund (A- and I-Class Units)Desjardins Overseas Equity Value Fund (A- and I-Class Units)Desjardins Overseas Equity Growth Fund (A- and I-Class Units)Desjardins Global Dividend Fund (A-, T- and I-Class Units)Desjardins Global All Cap Equity Fund (A-, T- and I-Class Units)Desjardins Global Small Cap Equity Fund (A- and I-Class Units)Desjardins Emerging Markets Fund (A- and I-Class Units)Desjardins Completion Investments Fund (A-, T- and I-Class Units)Desjardins Global Real Estate Fund (A-, T- and I-Class Units)SocieTerra Secure Market Portfolio (A-Class Units)SocieTerra Balanced Portfolio (A-Class Units)SocieTerra Growth Portfolio (A-Class Units)SocieTerra Growth Plus Portfolio (A-Class Units)Chorus II Conservative Portfolio (A-Class Units)Chorus II Balanced Income Portfolio (A-Class Units)Chorus II Balanced Growth Portfolio (A-Class Units)Chorus II Growth Portfolio (A-Class Units)Chorus II High Growth Portfolio (A-Class Units)Chorus II Maximum Growth Portfolio (A-Class Units)Melodia Conservative Income Portfolio (A-Class Units) (formerly known as Diapason Conservative Portfolio)Melodia Moderate Growth Portfolio (A-Class Units) (formerly known as Diapason Balanced Income Portfolio)Melodia Diversified Growth Portfolio (A-Class Units) (formerly known as Diapason Balanced Growth Portfolio)Melodia Balanced Growth Portfolio (A-Class Units) (formerly known as Diapason Growth Portfolio)Melodia Aggressive Growth Portfolio (A-Class Units) (formerly known as Diapason High Growth Portfolio)Melodia Maximum Growth Portfolio (A-Class Units) (formerly known as Diapason Maximum Growth Portfolio)Melodia Very Conservative Income Portfolio (A-Class Units) (formerly known as Diapason Retirement Portfolio B (Conservative))Melodia Moderate Income Portfolio (A-Class Units) (formerly known as Diapason Retirement Portfolio D (Balanced Income))Melodia Diversified Income Portfolio (A-Class Units) (formerly known as Diapason Retirement Portfolio F (Growth))

and to the shareholders of the:

Chorus II Corporate Class Conservative Portfolio (Series A, T4 and T6 Shares)*Chorus II Corporate Class Balanced Income Portfolio (Series A, T4 and T6 Shares)*Chorus II Corporate Class Balanced Growth Portfolio (Series A, T5 and T7 Shares)*Chorus II Corporate Class Growth Portfolio (Series A, T5 and T7 Shares)*Chorus II Corporate Class High Growth Portfolio (Series A, T6 and T8 Shares)*Chorus II Corporate Class Maximum Growth Portfolio (Series A, T6 and T8 Shares)*

* Shares of Desjardins Funds Corporate Class Inc.

(collectively referred to as the “Funds”)We have audited the accompanying financial statements of each of the Funds, which comprise the statements of investment portfolio as at September 30, 2013, the statements of net assets as at September 30, 2013 and September 30, 2012 and the statements of operations and changes in net assets for the years or periods then ended, as indicated in the statements of operations of each of the Funds, and the related notes, which comprise a summary of significant accounting policies and other explanatory information.

Management’s responsibility for the financial statementsManagement is responsible for the preparation and fair presentation of the financial statements of each of the Funds in accordance with Canadian generally accepted accounting principles, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibilityOur responsibility is to express an opinion on the financial statements of each of the Funds based on each of our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform an audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained in each of our audits is sufficient and appropriate to provide a basis for our audit opinion.

OpinionIn our opinion, the financial statements of each of the Funds present fairly, in all material respects, the financial position of each of the Funds as at September 30, 2013 and September 30, 2012 and the results of each of their operations and the changes in each of their net assets for the years or periods then ended, as indicated in the statements of operations of each of the Funds, in accordance with Canadian generally accepted accounting principles.

Chartered Professional Accountant

1

Montreal, Quebec

Independent Auditor’s Report

1 CPA auditor, CA, public accountancy permit No. A111799

Independent Auditor’s Report auditeurs_efa_en

The accompanying Notes are an integral part of these financial statements.

Desjardins Overseas Equity Growth Fund

statement of net assetsAs at September 30 2013

$2012

$AssetsCash 5,791,363 5,479,934 Investments at fair value 315,779,290 262,372,970 Subscriptions receivable 50,260 300 Receivable for investments sold – 4,107,806 Interest, dividends and other receivables 712,780 864,888

322,333,693 272,825,898 LiabilitiesAccrued expenses 43,411 97,090 Redemptions payable 6,253,100 –Payable for investments purchased 40,124 2,809,179

6,336,635 2,906,269

Net Assets and Unitholders’ Equity 315,997,058 269,919,629

Data per Class (Notes b and c)A-ClassNet assets and unitholders’ equity 72,612,054 247,933,576 Net assets per unit 14.10 10.80

I-ClassNet assets and unitholders’ equity 243,385,004 21,986,053 Net assets per unit 15.75 11.74

Approved on behalf of the Board of Directors ofDesjardins Investments Inc.Manager of the Desjardins FundsAlain Thauvette and Vincent Hogue, Directors

statement of operationsYears Ended September 30 2013

$2012

$IncomeInterest 98,268 43,699 Dividends 6,414,710 6,053,047 Revenue from securities lending and repurchase transactions 47,465 169,007

6,560,443 6,265,753 ExpensesManagement fees 4,922,957 5,919,805 Audit fees 8,027 12,296 Independent Review Committee’s fees 776 1,065 Custodian fees 206,626 163,828 Legal fees 1,780 1,253 Unitholders’ reporting costs 12,371 42,498 Filing fees 31,328 34,203 Administrative fees 285,980 371,895

5,469,845 6,546,843 Expenses absorbed by the Manager (82,589) (58,196)

5,387,256 6,488,647

Net Investment Income (Loss) 1,173,187 (222,894)

Gains (Losses) on Investments and Portfolio Transaction CostsNet realized gain (loss) 13,960,577 (5,879,208)Net unrealized gain (loss) 68,087,423 28,861,365 Commissions and other portfolio transaction costs (Note g) (123,281) (75,746)

81,924,719 22,906,411 Increase (Decrease) in Net Assets from Operations 83,097,906 22,683,517

Data per ClassA-ClassIncrease (decrease) in net assets from operations 52,393,305 19,421,877 – per unit 3.25 0.85

I-ClassIncrease (decrease) in net assets from operations 30,704,601 3,261,640 – per unit 4.10 1.64

statement of changes in net assetsA-Class I-Class

Years Ended September 30 2013 2012 2013 2012$ $ $ $

Net Assets, Beginning of Year 247,933,576 232,483,063 21,986,053 30,558,815

Increase (Decrease) in Net Assets from Operations 52,393,305 19,421,877 30,704,601 3,261,640

Unit TransactionsProceeds from sale of units 39,223,390 49,264,570 209,292,174 2,205,479 Amounts paid for units redeemed (266,938,217) (53,235,934) (18,597,824) (14,039,881)

(227,714,827) (3,971,364) 190,694,350 (11,834,402)

Net Assets, End of Year 72,612,054 247,933,576 243,385,004 21,986,053

00032_efa_ai_en

statement of investment portfolio as at september 30, 2013

Desjardins Overseas Equity Growth Fund

The accompanying Notes are an integral part of these financial statements.

Number Fair of Shares Cost Value $ $

Portugal (0.9%)Jeronimo Martins 137,290 2,476,988 2,901,018

Singapore (0.6%)Singapore Exchange 303,000 1,726,448 1,800,452

South Africa (0.2%)Impala Platinum Holdings 41,400 1,069,322 522,287

South Korea (3.4%)Celltrion 49,354 1,872,769 2,209,896NAVER 8,766 2,723,943 4,668,143Samsung Electronics, GDR 6,050 2,299,920 3,920,127 6,896,632 10,798,166Spain (7.9%)Banco Popular Espanol 1,119,394 4,999,670 6,154,883Banco Santander 641,234 6,675,342 5,368,981Distribuidora Internacional de Alimentacion 267,520 1,779,146 2,373,230Industria de Diseno Textil 70,534 4,380,229 11,183,094 17,834,387 25,080,188Sweden (9.2%)Alfa Laval 152,617 2,532,096 3,796,814Atlas Copco, A Shares 369,218 5,625,569 11,145,694Elekta, B Shares 113,073 1,542,099 1,875,358Investment AB Kinnevik, Series B 67,849 1,923,652 2,419,288Sandvik 240,536 3,115,169 3,424,152Svenska Handelsbanken 142,902 3,771,452 6,301,119 18,510,037 28,962,425Switzerland (7.7%)ABB 152,602 2,851,319 3,680,001Compagnie Financière Richemont, Class A 75,914 3,002,908 7,771,704Geberit 15,221 2,587,848 4,172,651Swatch Group, Class B 2,330 1,086,669 1,529,268Syngenta 17,245 4,407,009 7,163,839 13,935,753 24,317,463Taiwan (0.5%)Taiwan Semiconductor Manufacturing Company, ADR 96,700 997,028 1,686,772

Turkey (1.1%)BIM Birlesik Magazalar 64,652 1,331,255 1,373,067Turkiye Garanti Bankasi 480,641 2,295,691 1,953,217 3,626,946 3,326,284United Kingdom (16.2%)Aggreko 131,081 3,899,877 3,496,220ARM Holdings 590,000 5,181,287 9,679,535ASOS 22,857 1,485,138 1,954,825British American Tobacco 82,407 2,600,768 4,456,285Meggitt 587,252 2,861,048 5,335,101Prudential 565,685 4,899,635 10,824,255Rolls-Royce Holdings 461,446 4,174,101 8,484,157Standard Chartered 281,187 6,997,128 6,901,012 32,098,982 51,131,390

Total Foreign Equities 219,129,967 312,912,090

Total Equities 220,851,550 315,779,290

Portfolio Transaction Costs Included in the Securities’ Cost (308,886) –

Total Investments (99.9%) 220,542,664 315,779,290

Other Net Assets (0.1%) 217,768

Net Assets (100%) 315,997,058

TABLE

Securities Lending (Note 1)

Value of Fair Collateral Value Received $ $

Loaned Securities 3,401,866 3,604,557

Number Fair of Shares Cost Value $ $

Equities (99.9%)U.S. Equities (0.9%)Information TechnologyMercadoLibre 21,000 1,721,583 2,867,200

Foreign Equities (99.0%)Australia (2.5%)Cochlear 20,038 1,497,920 1,163,883Fortescue Metals Group 983,743 4,994,372 4,479,678Woodside Petroleum 61,388 2,416,157 2,255,806 8,908,449 7,899,367Bermuda (0.9%)Credicorp 21,434 2,668,438 2,829,679

Brazil (1.3%)BM&F BOVESPA 332,800 2,015,004 1,905,769Itau Unibanco Banco Multiplo 143,910 2,651,024 2,086,961 4,666,028 3,992,730British Virgin Islands (0.5%)Mail.Ru Group 38,465 1,298,481 1,511,239

Cayman Islands (10.1%)Baidu, ADR 104,800 8,843,461 16,751,142New Oriental Education & Tech. Group, ADR 67,600 1,298,566 1,730,517Tencent Holdings 210,000 4,457,132 11,323,727Youku, ADR 71,100 1,624,566 2,003,661 16,223,725 31,809,047Chile (0.3%)Sociedad Quimica y Minera de Chile, ADR 25,300 1,485,298 794,422

Denmark (3.3%)Novo Nordisk 42,718 3,892,378 7,453,048Novozymes 78,730 1,763,082 3,093,927 5,655,460 10,546,975France (6.2%)Essilor International 41,200 2,523,876 4,557,068Kering 28,306 3,774,614 6,526,941L’Oréal 49,307 5,118,928 8,713,267 11,417,418 19,797,276Germany (3.5%)Aixtron 113,961 3,267,795 1,981,337HeidelbergCement 30,142 1,793,185 2,392,009Porsche Automobil Holding, Preferred 32,669 2,386,185 2,937,704SMA Solar Technology 26,690 2,880,771 940,888Volkswagen 12,688 2,215,102 2,960,987 12,543,038 11,212,925Hong Kong (3.9%)AIA Group 1,722,400 6,513,655 8,303,117CNOOC 659,000 1,099,549 1,377,350Hong Kong Exchanges & Clearing 165,267 2,813,924 2,724,332 10,427,128 12,404,799India (0.4%)Housing Development Finance Corporation 102,800 1,518,938 1,280,554

Ireland (0.5%)James Hardie Industries 177,323 1,168,818 1,793,826

Italy (4.3%)Fiat 800,367 4,526,368 6,562,120Unicredit 1,055,379 4,715,369 6,922,349 9,241,737 13,484,469Japan (11.6%)Don Quijote Co. 27,400 1,548,794 1,762,615GREE 190,200 4,277,180 1,521,961Kyocera Corporation 32,600 1,488,712 1,773,179Rakuten 661,300 5,143,287 10,272,040Sanrio 27,400 960,388 1,728,222SMC Corporation 25,500 3,577,369 6,222,811Softbank Corp. 181,600 9,309,782 12,878,855YAMADA DENKI CO. 168,800 1,310,021 510,272 27,615,533 36,669,955Netherlands (1.2%)ASML Holding N.V. 18,179 1,458,141 1,847,279Gemalto 16,419 1,506,509 1,814,023 2,964,650 3,661,302Norway (0.8%)Schibsted 50,849 2,154,305 2,697,080

Desjardins Overseas Equity Growth Fund

notes to the financial statements – SPECIFIC INFORMATION pertaining to the desjardins overseas eQuity growth fund

e) Management Fees and Other Expenses (Note 3)

The Manager is authorized to charge operating expenses to the Fund, subject, however, to a management expense ratio cap (MER Cap).

This ratio is broken down as follows for A-Class units:

2013annual rate

%

Desjardins FundManagement

FeesOperating Expenses MER Cap

Overseas Equity Growth 2.29 0.22 2.51

I-Class units pay reduced management and operating fees which are negociated directly with each investor.

f) Related Party Transactions (Note 4)Desjardins Global Asset Management Inc. (“DGAM”) is the portfolio manager of the Fund. DGAM is an entity belonging to the same group as the Manager. DGAM’s fees are entirely paid by the Manager.

As at September 30, 2013, accrued expenses payable to the Manager are $43,411 ($97,090 as at September 30, 2012).

g) Other Commissions Paid to BrokersDuring the year, the amount of soft dollars, which represents the amount paid or payable for goods and services other than order execution, are:

2013 2012Desjardins Fund $ $

Overseas Equity Growth 18,668 8,405

No other form of compensation was paid to brokers.

h) Information on Financial Instruments (Note 5)

Strategy in Using Financial Instruments

Investment ObjectiveThe objective of this Fund is to achieve long-term capital appreciation.

The Fund invests primarily in equity and equity-related securities of companies located or operating outside of Canada and the United States. The Fund may also invest in equity and equity-related securities of companies located or operating in emerging markets.

Financial Instruments Fair Value Measurement

Classification of Financial Instruments at Fair Value MeasurementThe following tables categorize the Fund’s financial assets fair value measurement according to a three-level hierarchy. The methodology used for valuing securities is not necessarily an indication of the risk associated with investing in those securities. The fair value measurement is described in the “Valuation of Instruments” section of Note 1.

a) Establishment of the FundThe Desjardins Overseas Equity Growth Fund (the “Fund”) is an unincorporated mutual fund trust established on the following dates:

Desjardins Fund (A-Class)Overseas Equity Growth March 18, 2010

Desjardins Fund (I-Class)Overseas Equity Growth March 18, 2010

b) Reconciliation of Net Assets per Unit as per the Financial Statements with Net Asset Value per Unit for Purposes Other than the Financial Statements

The reconciliation is presented below.

Net Assets per Unit per the Financial Statements

Net Asset Value per Unit for Purposes Other than

the Financial Statements$ $

A-Class2013 14.10 14.132012 10.80 10.82

I-Class2013 15.75 15.782012 11.74 11.75

c) Units (Note 2)Net assets of each class of units in a Fund correspond to the proportion of the assets of the Fund attributable to this class, net of the proportion of the Fund’s total liabilities attributable to this class and the specific liabilities of the class. Expenses directly related to a class are applied against this class. Other income and expenses as well as realized and unrealized capital gains and losses are applied against each class in proportion to their respective net asset value.

Unitholders’ EquityThe unitholders’ equity of the Fund is composed of:

Authorized units

An unlimited number of A-Class units, intended for all investors.

An unlimited number of I-Class units, aimed at institutional or high net worth investors who negotiate and pay management fees directly to the Manager.

Issued and outstanding units

Number of Units,

Beginning of Year

Units Issued

Reinvested Units

Units Redeemed

Number of Units,

End of YearA-Class2013 22,946,571 3,267,249 – 21,062,384 5,151,4362012 23,321,357 4,584,261 – 4,959,047 22,946,571

I-Class2013 1,872,548 14,805,673 – 1,223,589 15,454,6322012 2,897,943 194,353 – 1,219,748 1,872,548

d) DistributionsNet investment income of the Fund is distributed in cash or reinvested in additional units, as follows:

A-Class annually

I-Class annually

Any net capital gains realized are distributed annually in December.

Desjardins Overseas Equity Growth Fund

notes to the financial statements – SPECIFIC INFORMATION pertaining to the desjardins overseas eQuity growth fund (continued)

As at September 30, 2012

Financial Assets Held

for TradingOther

Assets

Financial Liabilities

Held for Trading

Other Liabilities

$ $ $ $Australian Dollar 16,280,655 197,233 – –Brazilian Real 2,864,657 20,075 – –Danish Krone 9,449,017 – – –Euro 57,064,823 – – –Hong Kong Dollar 18,691,439 16,167 – –Japanese Yen 21,253,452 71,570 – –Pound Sterling 52,077,930 53,039 – –Singapore Dollar 1,892,620 36,501 – –South African Rand 682,195 – – –South Korean Won 5,210,949 – – –Swedish Krona 22,837,672 – – –Swiss Franc 22,060,765 – – –Turkish Lira 3,862,943 – – –U.S. Dollar 32,864,034 273,229 – –

As at September 30, 2013, had the Canadian dollar strengthened or weakened by 3% in relation to the following foreign currencies, with all other variables held constant, net assets would have decreased or increased by:

As at September 30, 2013 Impact on Net Assets

$Euro 2,284,319Hong Kong Dollar 713,625Japanese Yen 1,102,767Pound Sterling 1,541,065Swedish Krona 868,873Swiss Franc 729,524U.S. Dollar 1,253,962

As at September 30, 2013, had the Canadian dollar strengthened or weakened by 3% in relation to the other foreign currencies, with all other variables held constant, the impact on net assets would not have been significant.

As at September 30, 2012, had the Canadian dollar strengthened or weakened by 3% in relation to the following foreign currencies, with all other variables held constant, net assets would have decreased or increased by:

As at September 30, 2012 Impact on Net Assets

$Australian Dollar 494,337Euro 1,711,945Hong Kong Dollar 561,228Japanese Yen 639,751Pound Sterling 1,563,929Swedish Krona 685,130Swiss Franc 661,823U.S. Dollar 994,118

As at September 30, 2012, had the Canadian dollar strengthened or weakened by 3% in relation to the other foreign currencies, with all other variables held constant, the impact on net assets would not have been significant.

In practice, actual trading results may differ from these sensitivity analyses and the differences could be significant.

Investment Fair Value Measurement at the End of the Year, within the Following Levels:

As at September 30, 2013 Level 1 Level 2 Level 3 Total

$ $ $ $Financial Assets Held for TradingEquities 315,779,290 – – 315,779,290

Total 315,779,290 – – 315,779,290

As at September 30, 2012 Level 1 Level 2 Level 3 Total

$ $ $ $Financial Assets Held for TradingEquities 262,372,970 – – 262,372,970

Total 262,372,970 – – 262,372,970

Transfers between Levels 1 and 2During the years ended September 30, 2013 and 2012, there were no transfers of securities between Levels 1 and 2.

Reconciliation of Level 3 Fair Value MeasurementThe following table summarizes a reconciliation of movements on Level 3 financial instruments between the beginning and end of the year:

As at September 30, 2012 $Balance, Beginning of Year –Proceeds from sale of investments (12,344)Investments purchased –Net realized gain (loss) 12,344Net unrealized gain (loss) –Transfers to (from) Level 3 –

Balance, End of Year –

Financial Instrument Risks

Currency RiskThe following tables summarize the Fund’s exposure to currency risk:

As at September 30, 2013

Financial Assets Held

for TradingOther

Assets

Financial Liabilities

Held for Trading

Other Liabilities

$ $ $ $Australian Dollar 9,693,193 87,410 – –Brazilian Real 1,905,769 22,620 – –Danish Krone 10,546,975 – – –Euro 76,143,976 – – –Hong Kong Dollar 23,767,821 19,664 – –Indian Rupee 1,280,554 – – –Japanese Yen 36,669,955 88,935 – –Norwegian Krone 2,697,080 – – –Pound Sterling 51,225,727 143,107 – –Singapore Dollar 1,800,452 39,734 – –South African Rand 522,287 – – –South Korean Won 6,878,039 – – –Swedish Krona 28,962,425 – – –Swiss Franc 24,317,463 – – –Turkish Lira 3,326,284 – – –U.S. Dollar 41,687,047 111,690 – –

Desjardins Overseas Equity Growth Fund

notes to the financial statements – SPECIFIC INFORMATION pertaining to the desjardins overseas eQuity growth fund (continued)

Liquidity RiskThe Fund may invest in over-the-counter derivative financial instruments which are not traded in an organized market and may be illiquid. As a result, the Fund may not be able to liquidate them quickly at an amount close to their fair value to meet its liquidity requirements or to respond to specific events such as deterioration in the creditworthiness of any particular issuer.

The following tables analyze the Fund’s financial liabilities by relevant maturity groupings based on the remaining contractual period at the Statement of Net Assets date. The amounts in the tables are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.

As at September 30, 2013 Less than 1 Month

1 to 3 Months

No Stated Maturity

$ $ $Payable for investments purchased 40,124 – –Accrued expenses 43,411 – –Other liabilities 6,253,100 – –

Total Liabilities 6,336,635 – –

As at September 30, 2012 Less than 1 Month

1 to 3 Months

No Stated Maturity

$ $ $Payable for investments purchased 2,809,179 – –Accrued expenses 97,090 – –

Total Liabilities 2,906,269 – –

i) Income Tax and Capital Gains Tax (Note 6)Capital and non-capital losses determined for tax purposes as at December 15, 2012 are as follows:

Capital Losses Non-Capital Losses

Amount Amount AnniversaryDesjardins Fund $ $Overseas Equity Growth 6,764,016 1,175,253 2030

357,110 2032

Interest Rate RiskAs at September 30, 2013 and 2012, the majority of the Fund’s financial assets and liabilities are non-interest bearing. As a result, the Fund is not subject to significant amounts of risk arising from fluctuations in the prevailing levels of market interest rates.

Price RiskThe Fund trades in financial instruments, taking positions in traded and over-the-counter instruments.

As at September 30, 2013, the Manager’s estimate of the impact on net assets as a result of a reasonably possible change in the benchmark, using a historical beta coefficient (a measure of the sensibility of a security/fund in comparison to the market) between the Fund’s return as compared to the return of the Fund’s benchmark, with all other variables held constant, is included in the following table. A 36-month regression analysis has been utilized to estimate the historical beta coefficient. The regression analysis uses data based on the monthly returns of the Fund.

As at September 30, 2013 Change in Price

Impact on Net Assets

Benchmark % $MSCI EAFE +/-3.00 +/-9,294,564

As at September 30, 2012, the Manager’s best estimate of the impact on net assets as a result of a reasonably possible change in the benchmark, with all other variables held constant, was as follows:

As at September 30, 2012 Change in Price

Impact on Net Assets

Benchmark % $MSCI EAFE +/-3.00 +/-8,097,589

In practice, actual trading results may differ from these sensitivity analyses and the differences could be significant.

Credit RiskAs at September 30, 2013 and 2012, the Fund had no significant investments in either fixed-income securities, money market securities and derivative financial instruments. As a result, the Fund is not significantly exposed to credit risk.

Notes to the Financial Statements | Years Ended September 30, 2013 and 2012

1. Significant Accounting PoliciesThese financial statements have been prepared in accordance with Canadian Generally Accepted Accounting Principles (“GAAP”) and are expressed in Canadian dollars. The significant accounting policies followed by the Funds are summarized below.

Use of EstimatesThe preparation of the financial statements requires the Manager to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting year. These estimates are made based on information available as at the date of issuance of the financial statements. Actual results could materially differ from those estimates.

Valuation of InstrumentsGAAP requires the fair value of financial instruments traded in an active market to be measured based on an investment’s bid/ask price depending on the investment position.

For the purpose of processing unitholders’ or shareholders’ transactions, net asset value is calculated based on the closing market price of investments (“Net Asset Value”), while for financial statement purposes net assets are calculated based on bid/ask price of investments (“Net Assets”).

In accordance with National Instrument 81-106, a comparison between the Net Asset Value per unit or share and the Net Assets per unit or share is disclosed in the Reconciliation of Net Assets per Unit or Share per the Financial Statements with Net Asset Value per Unit or Share for Purposes Other than the Financial Statements in the section Notes to the Financial Statements – Specific Information pertaining to each Fund, except for the funds of funds.

Investments and derivative financial instruments are deemed to be categorized as held for trading and, accordingly, are required to be recorded at fair value, which is determined as follows:

Money Market SecuritiesMoney market securities are recorded at the bid price.

Equity SecuritiesEquity securities are recorded at the bid price of the accredited stock exchange on which the corresponding security is mainly traded for the long positions and at the ask price for the short positions.

WarrantsNon-rated warrants are valued with the Black & Scholes model.

Bonds, Mortgage-Backed Securities and Asset-Backed SecuritiesBonds, mortgage-backed securities and asset-backed securities are valued based on bid prices obtained from recognized securities dealers. Interest on inflation-indexed bonds is accrued on each valuation date based on the inflation adjusted par value at that time and is included in interest income in the Statement of Operations. The inflation adjustment of the par value is recognized as part of interest income in the Statement of Operations.

MortgagesMortgages are valued by Desjardins Group entities according to the present value of cash flows at interest rates for mortgages that are similar in nature and duration. Buildings acquired by mortgage foreclosure are valued according to the estimated realizable value, measured by the present value of future expected cash flows at the effective interest rates inherent in the loans.

Investment FundsThe underlying funds’ units or shares are valued based on the net asset value per unit or share provided by the underlying fund’s manager at the end of each valuation day.

Financial Derivative InstrumentsCertain Funds may use an array of financial derivative instruments such as foreign currencies forward contracts, forwards contracts, futures contracts and swaps, for hedging purposes or purposes other than hedging, or both.

Futures ContractsThe futures contracts are valued at fair value, and are settled daily through brokers acting as intermediaries. Any amounts receivable (payable) from settlement of futures contracts are recorded in “Receivable (Payable) on futures contracts” in the Statement of Net Assets.

Foreign Currencies Forward Contracts and SwapsThe fair value of these instruments corresponds to the gains or losses that would result from the contract close-out on the valuation date; this value is recorded in “Unrealized appreciation (depreciation) on derivatives” in the Statement of Net Assets.

Forward ContractsCertain Funds may use forward contracts. The fair value of these contracts corresponds to the gains or losses that would result from the contract close-out on the valuation date; this value is recorded in “Unrealized appreciation (depreciation) on derivatives” in the Statement of Net Assets. For further information regarding which Funds are authorized to use financial derivative instruments, please refer to the section Notes to the Financial Statements – Specific Information pertaining of each Fund.

Valuation of Unlisted Securities and Other InvestmentsWhen the valuation principles of the aforementioned investments are not appropriate, fair value is determined according to the Manager’s best estimates, based on established valuation procedures. These procedures cover, among others, securities no longer traded, securities issued by private corporations and illiquid securities. The fair value of these securities established for the purpose of calculating the Funds’ net assets may differ from the securities’ most recent bid or ask price.

Investment TransactionsInvestment transactions are accounted for on the trade date. Cost is determined on an average cost basis except for the money market securities, for which the cost is determined using the First In First Out method. Transaction costs, such as brokerage commissions, incurred in the purchase and sale of securities by the Funds are recognized in the Statement of Operations. The difference between the unrealized appreciation (depreciation) of investments at the beginning and at the end of the year is included in the “Net unrealized gain (loss)” in the Statement of Operations. When a Fund disposes of an investment, the difference between the fair value and the cost of investments is included in the “Net realized gain (loss)” in the Statement of Operations.

Securities Lending and Repurchase TransactionsCertain Desjardins Funds may enter into securities lending agreements with the Funds’ custodian (Desjardins Trust Inc.). A collateral representing at least 102% of the market value of the loaned securities, determined on a daily basis, is kept in bonds and in cash and cash equivalents to limit the risk that the counterparty fails to fulfill its obligations. Income from securities lending is shared between the Fund and its custodian. It is included in the “Revenue from securities lending and repurchase transactions” in the Statement of Operations. The value of securities and the amount of collateral are detailed in the investment portfolios.

Certain Desjardins Funds may also enter into repurchase transactions with the Funds’ custodian. The Funds have obtained collateral of 102% of the repurchase transactions’ market value. However, this collateral is composed of cash up to the market value of the repurchase transaction and in bonds and in cash and cash equivalents for the balance. Income from repurchase transactions is shared between the Fund and its custodian and it is included in the “Revenue from securities lending and repurchase transactions” in the Statement of Operations. The repurchase transactions in effect as at September 30, 2013 are detailed in the investment portfolios.

For further information regarding the Desjardins Funds entered into securities lending agreements, please refer to the Financial Statements of each Fund.

CashCash or bank overdraft are deemed to be held for trading and carried at fair value.

Other Assets and LiabilitiesMargin deposited on futures contracts, receivable on futures contracts, subscriptions receivable, receivable for investments sold, cash guarantee received for securities lending and repurchase transactions as well as interest, dividends and other receivables are deemed to be loans and receivables and recorded at cost. Similarly, accrued expenses, payable on futures contracts, redemptions payable, payable for investments purchased, cash guarantee payable for securities lending and repurchase transactions as well as interest, dividends and other payables are deemed to be financial liabilities and recorded at cost. Given their short-term nature, their carrying amount closely approximates their fair value.

IncomeIncome is accounted for on an accrual basis. Interest income is recorded as it is earned and dividend income is recorded on the ex-dividend date. Interest and dividend distributions received from underlying funds are recorded at the day of the distributions. Distributions received from income and royalty trust investments are classified as income, capital gains or return of capital based on amounts reported by the management of these trusts, or if such specific information is not available, the Manager will determine the split at its discretion.

Gains and losses realized when financial derivative instruments held for hedging purposes are closed out are included in the “Net realized gain (loss)” in the Statement of Operations. Gains and losses on financial derivative instruments held for purposes other than hedging are included in “Net income (loss) from derivative financial instruments” in that statement.

Notes to the Financial Statements

Collectively referred to as the “Funds” or the “Desjardins Funds”.

Notes générale en

Notes to the Financial Statements | Years Ended September 30, 2013 and 2012

Foreign Currency TranslationThe fair value of financial instruments denominated in foreign currencies is translated into Canadian dollars at the rate of exchange on each valuation date. Purchases and sales of securities as well as income and expenses denominated in foreign currencies are translated into Canadian dollars at the rate in effect at the transaction date.

Realized exchange gains and losses are included in “Net realized gain (loss)” in the Statement of Operations. The difference between the unrealized exchange gains and losses at the beginning and at the end of the year is included in “Net unrealized gain (loss)” in that statement.

Increase (Decrease) in Net Assets from Operations per Unit or ShareIncrease (decrease) in net assets from operations per unit or share in the Statement of Operations represents the increase (decrease) in net assets from operations by class or series, divided by the average number of units or shares outstanding per class or series during the year.

2. Unitholders’ or Shareholders’ EquityCapitalization

Trust FundsEach Fund, except the corporate class funds, is authorized to issue an unlimited number of class of units and an unlimited number of units of each class.

Each class unit entitles the holder thereof to participate equally in the distributions of the Fund made to that class. Fractions of units may be issued.

The units of a Fund are of the same class and confer the same rights and privileges except that in respect of a Fund with more than one class of units, each class of units may have a different management fee, dealer compensation structure or distribution structure. As a result, each unit entitles its holder to one vote and to participate equally in distributions made in respect of the class of units by the subject Fund and, on liquidation, in the net assets of the class of units remaining after satisfaction of outstanding liabilities. A fraction of a unit will entitle the holder to similar proportionate participation and to vote.

Units and fractions of units may be issued by a Fund only as fully paid and non-assessable. A unitholder will be entitled to redeem units in the manner described under “Redemptions of Securities” in the Annual Information Form. The Declaration of Trust does not impose any restrictions on the transfer of units.

The rights and conditions attaching to the units of each Fund may be modified only in accordance with the provisions of the securities legislation applicable to such units and the provisions of the Declaration of Trust.

The Manager manages the capital of the Funds in accordance with their investment objectives (refer to Note 5). Also, in accordance with securities regulations, the Funds seek to invest subscriptions received in appropriate investments while maintaining sufficient liquidity to meet redemptions.

Corporate FundsChorus II Corporate Class Portfolios are authorized to issue an unlimited number of shares of the following series:

Chorus II Corporate Class Portfolios SeriesConservative A, T4 and T6Balanced Income A, T4 and T6Balanced Growth A, T5 and T7Growth A, T5 and T7High Growth A, T6 and T8Maximum Growth A, T6 and T8

Each series share entitles the holder thereof to participate equally in the distributions of the Fund made to that series. Fractions of shares may be issued.

The shares of a Fund are of the same series and confer the same rights and privileges except that in respect of a Fund with more than one series of shares, each series of shares may have a different management fee, dealer compensation structure or distribution structure. As a result, each share entitles its holder to one vote and to participate equally in distributions made in respect of the series of shares by the subject Fund and, on liquidation, in the net assets of the series of shares remaining after satisfaction of outstanding liabilities. A fraction of a share will entitle the holder to similar proportionate participation, but will not entitle them to vote.

Shares and fractions of shares may be issued by a Fund only as fully paid and non-assessable. A shareholder will be entitled to redeem shares in the manner described under “Redemptions of Securities” in the Annual Information Form. The Declaration of Trust does not impose any restrictions on the transfer of shares.

The rights and conditions attaching to the shares of each Fund may be modified only in accordance with the provisions of the securities legislation applicable to such shares and the provisions of the Declaration of Trust.

The Manager manages the capital of the Funds in accordance with their investment objectives (refer to Note 5). Also, in accordance with securities regulations, the Funds seek to invest subscriptions received in appropriate investments while maintaining sufficient liquidity to meet redemptions.

Valuation of Units or SharesOn each business day and for each class of units or series of shares in each Fund, the Manager calculates the net asset value per unit or share by dividing the net assets by the number of units or shares outstanding.

The net asset value of each class of units or series of shares in a Fund corresponds to the proportion of the assets of the Fund attributable to the class or series, net of the proportion of the Fund’s total liabilities attributable to the class or series and the specific liabilities of the class or series. Expenses directly related to a class or series are applied against this class or series. Other income and expenses as well as realized and unrealized capital gains and losses are applied against each class or series in proportion to their respective net asset value.

3. Management Fees and Other ExpensesOn January 1, 2012, the way the operating expenses limitation of each Desjardins Fund was revised, by excluding thereof all taxes of any nature.

Desjardins Trust Inc., as the Trustee, receives from each Fund weekly management fees, before taxes, calculated on the net asset value of each class of units or series of shares on each valuation date. Out of these fees, the Trustee is responsible for the fees payable to the Manager, who assumes the responsibility for the payment of the investment fees to portfolio sub-managers retained for the Funds.

Each Fund assumes its own operating expenses, which include, among other things, brokerage, custody, legal, audit, filing and administration costs, as well as costs associated with the Funds’ Independent Review Committee. The fees and expenses associated with the Independent Review Committee include annual fees and meeting fees, if any, payable to members and the payment of any other expenses related to the operation of the Independent Review Committee.

Certain Funds may invest in other mutual funds (“underlying funds”), including Desjardins Funds, in order to achieve their investment objectives. There are fees and expenses payable by the underlying funds in addition to the fees and expenses payable by the investing Fund. No management fees or incentive fees are payable by the Fund, that to a reasonable person, would duplicate a fee payable by the underlying fund for the same service. For further information regarding the Desjardins Funds authorized to invest in underlying funds, please refer to the section Notes to the Financial Statements – Specific Information pertaining to each Fund.

4. Related Party TransactionsThe Fédération des caisses Desjardins du Québec was replaced on January 1, 2012 by a new entity called Desjardins Investments Inc. (the “Manager”). Furthermore, it is the Funds’ Manager pursuant to the Administration Agreement. The Manager ensures the daily administration of the Funds. He provides the Funds or makes sure the Funds are provided with all services (accounting, custody, portfolio management, record maintenance, transfer agent) required to function properly. The Funds pay management fees to the Manager, which are calculated on a daily basis with the net asset value of the Funds and paid weekly at the annual rate specified under Note “Management Fees and Other Expenses” in the section Notes to the Financial Statements – Specific Information pertaining to each Fund. Management, custody and administrative fees presented in the Statement of Operations were incurred with the Manager of the Desjardins Funds.

Desjardins Trust Inc., an entity belonging to the same group as the Manager, is the Funds’ Trustee and Custodian. The Funds’ Trustee fees are at the Manager’s expense. The custodian fees of Desjardins Trust Inc. are at the Funds’ expense and are established based on market conditions.

These transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties.

Notes to the Financial Statements | Years Ended September 30, 2013 and 2012

5. Financial Instruments DisclosuresClassification of Financial Instruments at Fair Value MeasurementThe Funds present their financial instruments at fair value according to a three-level hierarchy that reflects the significance of the inputs used to determine such fair value measurements. The fair value hierarchy consists of the three following levels:

• Level 1: Quoted prices in active markets for identical assets or liabilities;

• Level 2: Inputs other than quoted prices included in Level 1 that are observable for assets or liabilities, either directly (i.e., as prices) or indirectly (i.e., derived from prices);

• Level 3: Inputs for assets or liabilities that are not based on observable market data (unobservable inputs).

A change in the fair value measurements method could result in a transfer between levels.

Financial Risk ManagementThe Funds’ activities expose them to a variety of financial risks, among which are market risk (including currency risk, interest rate risk and price risk), credit risk and liquidity risk. The Funds’ overall risk management strategy focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Funds’ rate of return.

The Manager is responsible for risk management within each Fund, as well as the selection and monitoring of the portfolio sub-managers.

The Manager compares the Funds’ performance to their benchmarks on a monthly basis and this analysis is then reviewed every quarter by the Investment Committee of Desjardins Investments Inc. Furthermore, the Manager ensures that the Funds’ investment policies are rigorously followed and writes a compliance report, which is also reviewed on a quarterly basis by the Investment Committee.

Every quarter, the Manager discusses the results of the performance analyses with the portfolio sub-managers and plans yearly meetings with them to keep abreast of any changes in their investment practices.

Currency RiskCurrency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate as a result of changes in foreign exchange rates.

The Funds are exposed to the currency risk in holding assets and/or liabilities denominated in currencies other than the Canadian dollar, the Funds’ functional currency, as the value of the securities denominated in other currencies will fluctuate in accordance with the applicable exchange rates in effect.

The Funds’ exposure to currency risk is shown based on the carrying value of monetary and non-monetary assets (including derivatives and the notional amount of forward currency contracts, if any). For the notional amount of forward currency contracts, a long position is shown under “Financial Assets Held for Trading”, and a short position under “Financial Liabilities Held for Trading”.

When the Canadian dollar decreases in relation to the foreign currencies, then the value of foreign investments increases. When the value of the Canadian dollar increases, the value of foreign investments decreases.

Interest Rate RiskInterest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate as a result of changes in market interest rates.

Interest rate risk occurs when an investment fund invests in interest-bearing financial instruments. The Funds are exposed to the risk that the value of such financial instruments will fluctuate as a result of changes in market interest rates. Generally, the value of these securities increases if interest rates decrease and decreases if interest rates increase. There is minimal sensitivity to interest rate fluctuations on cash and cash equivalents invested at short-term market interest rates.

Price RiskPrice risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate as a result of changes in market prices other than those arising from currency risk or interest rate risk.

All securities investments present a risk of loss of capital. The portfolio manager intends to manage this risk through a careful selection of securities and other financial instruments in compliance with the specified limits. The maximum risk resulting from financial instruments is determined by the fair value of the financial instruments. The Funds’ financial instruments are exposed to market price risk arising from uncertainties about the future prices of instruments.

The Funds’ market price risk is managed through diversification of the investment portfolio’s exposure ratio.

Credit RiskCredit risk is the risk that the counterparty to a financial instrument will be unable to pay the full amount upon maturity.

The Funds take on exposure to credit risk and default provisions are recorded for the losses incurred prior to the Statement of Net Assets issue date, if any. All transactions are settled or paid upon delivery through approved brokers. The risk of default is considered minimal as securities sold are delivered only once the broker has received payment.

Payment is made on a purchase once the securities have been received by the broker. The trade will fail if either party defaults on its obligation.

The entity’s own risk and the credit risk of the counterparty are taken in account in determining the fair value of financial assets and financial liabilities, including derivative financial instruments.

Liquidity RiskLiquidity risk is the risk that a counterparty to a financial instrument may not be able to settle or meet its obligation on time or at a reasonable price.

The Funds are exposed to daily cash redemptions of units or shares. They therefore invest the majority of their assets in liquid investments (i.e. investments that are traded in an active market and that can be readily disposed of). In accordance with securities regulations, the Funds must maintain at least 90% of their assets in liquid investments.

Additional InformationFor further information regarding the financial instruments’ risk exposure of each Fund, please refer to the section Notes to the Financial Statements – Specific Information pertaining to each Fund.

6. Income Tax and Capital Gains TaxTrust FundsUnder the Income Tax Act (Canada), each Fund, except the corporate class funds, is defined as a mutual fund trust and is taxed on income and net capital gains not distributed to unitholders. It is the intention of the Funds to pay to unitholders all of their investment income and sufficient net realized capital gains so that the Funds will not be subject to income taxes.

Corporate FundsThe Corporation includes Chorus II Corporate Class Conservative Portfolio, Chorus II Corporate Class Balanced Income Portfolio, Chorus II Corporate Class Balanced Growth Portfolio, Chorus II Corporate Class Growth Portfolio, Chorus II Corporate Class High Growth Portfolio and Chorus II Corporate Class Maximum Growth Portfolio.

The Corporation constitutes a single legal entity for tax purposes and qualifies as a public corporation under the Income Tax Act (Canada). As such, the Corporation computes its net income (net loss) and net capital gains (net capital losses) for income tax purposes as a single entity.

The Corporation is subject to Part IV tax on dividends received from other Canadian corporations to the extent that they are not declared and paid to its shareholders. It is the intention of the Corporation to pay out all Canadian dividends it receives to its shareholders, such that Part IV tax would not be paid. Dividends distributed on September 25, 2013, were designated eligible dividends.

Interest income and foreign dividends, net of applicable expenses, are taxed at corporate rates with credits for foreign taxes paid, subject to certain limitations.

Year End DateThe year-end for tax purposes is December 31 for the following Funds:

Desjardins Money Market Fund Melodia Very Conservative Income Portfolio (formerly Diapason Retirement Portfolio B (Conservative)) Melodia Conservative Income Portfolio (formerly Diapason Conservative Portfolio) Melodia Moderate Income Portfolio (formerly Diapason Retirement Portfolio D (Balanced Income)) Melodia Diversified Income Portfolio (formerly Diapason Retirement Portfolio F (Growth)) Melodia Moderate Growth Portfolio (formerly Diapason Balanced Income Portfolio) Melodia Diversified Growth Portfolio (formerly Diapason Balanced Growth Portfolio) Melodia Balanced Growth Portfolio (formerly Diapason Growth Portfolio) Melodia Aggressive Growth Portfolio (formerly Diapason High Growth Portfolio) Melodia Maximum Growth Portfolio (formerly Diapason Maximum Growth Portfolio)

The Corporation has a year-end for tax purposes of September 30.

All other Funds have a year-end for tax purposes of December 15.

Notes to the Financial Statements | Years Ended September 30, 2013 and 2012

Loss Carry ForwardCapital losses can be carried forward indefinitely and used to reduce future capital gains. Non-capital losses can be carried forward 20 years.

Capital and non-capital loss balances published in the Corporation’s tax return as at September 30, 2013 are as follows:

Capital Losses Non-Capital LossesAmount

$Amount

$Anniversary

Desjardins Funds Corporate Class Inc.

––

5,019,7866,424,992

20322033

7. Comparative FiguresCertain prior year-end comparative figures have been reclassified to conform with the current year-end presentation.

8. Event Subsequent to the Date of the Statement of Net Assets

Fund MergersDuring the special meeting held on September 18, 2013, the Manager obtained approval from unitholders and regulatory authorities to merge certain Funds. The Merger by Notice of certain Funds has been approved by the Independant Review Committee (the « IRC »).

These Fund mergers were completed at the end of the business day on October 18, 2013.

As a result of these mergers, each Terminating Fund ceded its assets at fair value to the Continuing Fund in exchange for units. The Terminating Funds’ unitholders exchanged their units for units issued by the Continuing Fund. The Continuing Funds did not assume the Terminating Funds’ liabilities since sufficient assets were kept by the Terminating Funds to cover their liabilities. Any latent gains or losses of the Terminating Funds’ investment portfolio were considered realized. No fund merger fees were charged to the Funds or the unitholders.

For more information regarding Fund mergers, please refer to the Notes to the Financial Statements – Specific Information pertaining to each Fund.

Etablishment of New FundsOn June 26, 2013, six new Desjardins Funds were established:

Desjardins Emerging Markets Opportunities Fund (A- and I-Class Units)Desjardins Emerging Markets Bond Fund (A- and I-Class Units)Desjardins Canadian Equity Income Fund (A- and I-Class Units)Desjardins Global Tactical Bond Fund (A- and I-Class Units)Desjardins Global Infrastructure Fund (A- and I-Class Units)Desjardins Global Corporate Bond Fund (A- and I-Class Units)

As at October 18, 2013, operations will begin in these Funds.

9. Additional InformationUnitholders or shareholders of the Desjardins Funds can request a copy of the Simplified Prospectus as well as the annual, and, if applicable, the interim financial statements for each of the underlying funds at no cost:

– by contacting their advisor; or– by calling 514 286-3499, or

toll-free at 1 866 666-1280; or– at desjardinsfunds.com, at sedar.com by e-mail

at info.fondsdesjardins@desjardins.com; or – through Desjardins Investments Inc.

Desjardins Funds Customer Service 2 Complexe Desjardins P.O. Box 9000, Desjardins Station Montréal, Québec H5B 1H5