TORONTO -- Provincial Credit Union Centrals and Desjardins Group announced today the completion of a partnership between Northwest Funds and Ethical Funds that will create a $5.5 billion investment firm.

Initially announced on Sept.19, 2007, the partnership has created the new company Northwest & Ethical Investments L.P. under which both the Northwest Funds and Ethical Funds brands will continue to operate. Northwest & Ethical became responsible for managing the assets of both firms as of Dec. 28, 2007.

Fifty percent of Northwest & Ethical will be owned by Provincial Credit Union Centrals and 50% will be owned by Desjardins Group.

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