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
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.
SOURCE: Counsel Portfolio Services Inc.
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