Counsel Announces Changes with Renewal of Prospectus

TORONTO, Oct. 30, 2020 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") today announced several changes to its funds with the renewal of its Simplified Prospectus.

1. Risk Rating Change
The risk rating for Counsel Retirement Preservation Portfolio was lowered based on the Canadian Securities Administrators' Risk Classification Methodology. There were no changes to the Portfolio's investment objective or strategies.

2. Name Change and Fixed Income Distribution Change
Counsel announced a name change for Counsel Retirement Income Portfolio to Counsel Income Trend Strategy. The new name more accurately reflects the fund's position as a component and capital preservation strategy in other Counsel investment solutions.

In addition, Counsel revised the fixed monthly distribution for each series of Counsel Income Trend Strategy as follows:

3. Trailing Commission Change for Counsel Money Market

During this period of ultra-low interest rates, Counsel is waiving some of its management fees for Counsel Money Market, in order to preserve the fund's yield for investors.  Today Counsel announced it is changing the trailing commission payable on Series A units of Counsel Money Market to a variable rate of up to 0.25%. Temporarily lowered trailing commission rates will further benefit investors, in addition to the fee waivers already in place.  As interest rates increase in the future, the trailing commission may be increased and the fee waiver reduced.

About Counsel Portfolio Services Inc.

Counsel is a subsidiary of Investment Planning Counsel Inc. ("IPC Inc."). With $4.7 billion in assets under management as at September 30, 2020, Counsel provides comprehensive, objective portfolio solutions utilizing the strength and expertise of third–party portfolio managers. Counsel, through IPC Inc., is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies. 

SOURCE Counsel Portfolio Services Inc.