Nterim Financial Statements

Interim Financial Statements

DESJARDINS FUNDS

As at March 31, 2019

INTERIM FINANCIAL STATEMENTS (UNAUDITED) | NOTICE

The following Desjardins Funds' Interim Financial Statements have not been subject to a review by the Funds' external auditors.

DESJARDINS AMERICAN EQUITY GROWTH FUND

STATEMENT OF FINANCIAL POSITION (UNAUDITED)

AS AT

ASSETS Current Assets Cash Investments at fair value through profit or loss (FVTPL) Investments at fair value through profit or loss (FVTPL) provided as collateral Subscriptions receivable Receivable for investments sold Interest, dividends and other receivables

LIABILITIES Current Liabilities Accrued expenses Redemptions payable Payable for investments purchased

March 31 2019 $

SEPTEMBER 30 2018 $

16,024,487 33,909,435

1,198,679,885 1,165,313,711

144,224,725 148,135,228

73,803

374,850

9,524,556

322,712

(18,149)

165,042

1,368,509,307 1,348,220,978

69,162 290,888 1,370,623 1,730,673

167,767 63,458 965,149 1,196,374

Net Assets Attributable to Holders of Redeemable Units 1,366,778,634 1,347,024,604

Data per Class (Note b) A-Class Net assets attributable to holders of redeemable units ? per unit

182,416,920 174,697,056

15.94

16.79

I-Class

Net assets attributable to holders of redeemable units ? per unit

1,164,968,478 1,152,209,022

41.28

42.81

C-Class

Net assets attributable to holders of redeemable units ? per unit

11,225,833 20.24

8,971,861 21.31

F-Class

Net assets attributable to holders of redeemable units ? per unit

3,905,082 21.53

2,499,866 22.54

D-Class

Net assets attributable to holders of redeemable units ? per unit

4,262,321 10.52

8,646,799 11.03

Approved on behalf of the Board of Directors of Desjardins Investments Inc. Manager of the Desjardins Funds ?ric Landry and S?bastien Vall?e, Directors

STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

SIx-MONTH PERIODS ENDED MARCH 31

2019

2018

$

$

Income Interest for distribution purposes Dividends Revenue from securities lending activities Foreign exchange gain (loss) on cash Changes in fair value: Net realized gain (loss) on investments Net unrealized gain (loss) on investments

Expenses Management fees Independent Review Committee's fees Administration fees

Withholding taxes Commissions and other portfolio transaction costs (Note f)

Increase (Decrease) in Net Assets Attributable to Holders of Redeemable Units

82,311 4,818,267

35,575 1,107,702

161,193 2,018,146

16,891 1,156,837

33,019,424 16,371,473 55,434,752

43,430,674 132,681,484 179,465,225

1,898,592 1,484

185,507 2,085,583

700,135 148,073 2,933,791

1,793,517 1,772

159,013 1,954,302

702,026 272,869 2,929,197

52,500,961 176,536,028

Data per Class A-Class

Increase (decrease) in net assets attributable to holders of redeemable units ? per unit Average Redeemable Units

5,524,452 0.51

10,886,163

19,024,375 1.82

10,432,574

I-Class

Increase (decrease) in net assets attributable to holders of redeemable units ? per unit Average Redeemable Units

46,521,920 1.66

28,022,102

156,820,118 4.89

32,091,900

C-Class

Increase (decrease) in net assets attributable to holders of redeemable units ? per unit Average Redeemable Units

436,683 0.91

480,402

645,271 2.16

298,358

F-Class

Increase (decrease) in net assets attributable to holders of redeemable units ? per unit Average Redeemable Units

184,962 1.29

143,032

46,264 2.24

20,627

D-Class*

Increase (decrease) in net assets attributable to holders of redeemable units ? per unit Average Redeemable Units

(167,056) (0.30)

550,081

* Beginning of operations: ? D-Class in May 2018.

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

DESJARDINS AMERICAN EQUITY GROWTH FUND

STATEMENT OF CHANGES IN FINANCIAL POSITION (UNAUDITED)

SIx-MONTH PERIODS ENDED MARCH 31

Net Assets Attributable to Holders of Redeemable Units, Beginning of Period

Increase (Decrease) in Net Assets Attributable to Holders of Redeemable Units

Redeemable Units Transactions Proceeds from sale of redeemable units Reinvested distributions Amounts paid for redeemable units redeemed

Distributions to Holders of Redeemable Units Net investment income Net realized gain on sale of investments and derivatives

Net Assets Attributable to Holders of Redeemable Units, End of Period

A-CLASS

2019

2018

(6 Months) (6 MONTHS)

$

$

I-CLASS

2019

2018

(6 Months) (6 MONTHS)

$

$

174,697,056 136,603,244 1,152,209,022 893,300,136

C-CLASS

2019

2018

(6 Months) (6 MONTHS)

$

$

8,971,861

4,032,441

5,524,452 19,024,375

46,521,920 156,820,118

436,683

645,271

16,601,506 12,190,665 (14,380,745) 14,411,426

16,762,036 2,383,438 (17,075,108) 2,070,366

20,302,390 81,668,887 (54,064,854) 47,906,423

233,960,351 18,066,398 (18,867,999) 233,158,750

? (12,216,014) (12,216,014)

(2,392,983) ?

(2,392,983)

(288,474) (81,380,413) (81,668,887)

(18,066,398) ?

(18,066,398)

182,416,920 155,305,002 1,164,968,478 1,265,212,606

2,282,030 670,086 (464,741)

2,487,375

? (670,086) (670,086)

11,225,833

2,151,017 84,725

(240,530) 1,995,212

(84,725) ?

(84,725)

6,588,199

F-CLASS

2019

2018

(6 Months) (6 MONTHS)

$

$

2,499,866

283,033

184,962

46,264

1,387,142 195,958 (142,669)

1,440,431

? (220,177) (220,177)

3,905,082

311,186 5,552 (2,073)

314,665

(5,552) ?

(5,552)

638,410

SIx-MONTH PERIODS ENDED MARCH 31

Net Assets Attributable to Holders of Redeemable Units, Beginning of Period

Increase (Decrease) in Net Assets Attributable to Holders of Redeemable Units

Redeemable Units Transactions Proceeds from sale of redeemable units Reinvested distributions Amounts paid for redeemable units redeemed

Distributions to Holders of Redeemable Units Net investment income Net realized gain on sale of investments and derivatives

Net Assets Attributable to Holders of Redeemable Units, End of Period

D-CLASS 2019*

(6 Months) $

8,646,799

(167,056)

3,282,271 279,150

(7,481,987) (3,920,566)

? (296,856) (296,856)

4,262,321

* Beginning of operations: ? D-Class in May 2018.

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

DESJARDINS AMERICAN EQUITY GROWTH FUND

STATEMENT OF CASH FLOWS (UNAUDITED)

SIx-MONTH PERIODS ENDED MARCH 31

Cash Flows from (used in) Operating Activities Increase (decrease) in net assets attributable to holders of redeemable units Adjustments for: Foreign exchange (gain) loss on cash Net realized (gain) loss Net unrealized (gain) loss Proceeds from sale/maturity of investments Investments purchased Receivable for investments sold Interest, dividends and other receivables Accrued expenses Payable for investments purchased Net Cash Flows from (used in) Operating Activities

Cash Flows from (used in) Financing Activities Proceeds from sale of redeemable units Amounts paid for redeemable units redeemed Distributions paid to holders of redeemable units net of reinvested distributions Net Cash Flows from (used in) Financing Activities

Effect of exchange rate changes on foreign cash

Increase (decrease) in cash/bank overdraft Cash (bank overdraft), beginning of period Cash (Bank Overdraft), End of Period

Supplemental Information on Cash Flows from (used in) Operating Activities Interest received Dividends received, net of withholding taxes Interest paid

2019

2018

$

$

52,500,961 176,536,028

(1,107,702) (33,019,424) (16,371,473) 274,714,649 (254,984,058) (9,201,844)

183,191 (98,605) 405,474 13,021,169

(1,156,837) (43,430,674) (132,681,484) 217,259,742 (426,820,179) (1,289,204)

(171,569) 3,071

2,166,551 (209,584,555)

44,156,386 253,479,226 (76,307,566) (36,440,982)

(67,274)

(9,545)

(32,218,454) 217,028,699

1,312,337

1,098,409

(17,884,948) 33,909,435 16,024,487

8,542,553 9,452,782 17,995,335

215,882 4,160,384

2,247

1,346 1,192,908

654

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

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