Counsel Portfolio Services Introduces T- Series and Advisor Directed Payout Service on Counsel Regular Pay Portfolio and Counsel Income Managed Portfolio; Revises Distribution Policy
MISSISSAUGA, ON, Dec. 5, 2012 /CNW/ - Counsel Portfolio Services Inc. (Counsel) today announced its intention to introduce Series T on Counsel Regular Pay Portfolio and Counsel Income Managed Portfolio, effective December 17, 2012.
The new Series T offers a tax-efficient monthly distribution at an annualized rate of up to 8%, and will feature Counsel's Advisor Directed Payout (ADP) service. ADP allows investors to choose the amount of the distribution they wish to receive in cash, in either a dollar or percentage amount, in order to meet their specific cash flow requirements.
Counsel also announced it will change the distribution policy for Series A, D, E, F and I of the two portfolios. The current distribution policy will be amended to introduce a variable monthly distribution. All Series of Counsel Regular Pay Portfolio and Counsel Income Managed Portfolio, with the exception of Series T, will distribute investment income as earned, net of expenses. This policy change is effective April 1, 2013.
About Counsel Portfolio Services Inc.
Counsel Portfolio Services Inc. is a direct subsidiary of IPC Portfolio Services Inc., which is an indirect subsidiary of Investment Planning Counsel Inc. Counsel was formed to support the partnership between financial advisors and their clients by providing comprehensive, objective portfolio solutions, and exclusively utilizing the strength and expertise of third-party portfolio managers.
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