Counsel announces proposal to introduce fixed rate administration fees
The proposal aims to change the method of charging operating expenses to Counsel investment solutions by replacing the current method with a fixed rate administration fee. If approved by investors, Counsel will bear all of the operating expenses of the Counsel investment solutions, except for GST and certain specified costs,(1) in return for a fixed rate administration fee.
The implementation of the fixed rate administration fee structure will increase the level of transparency on how the operating expense portion of the management expense ratio (MER) is charged. In turn, this will give investors the ability to better predict their overall cost of investing in a Counsel investment solution.
A special meeting of unitholders is scheduled for
Assuming unitholder approval is received, the fixed rate administration fee will become effective retroactive to
Counsel: A comprehensive portfolio service provider
To better reflect its role as a comprehensive portfolio service company, effective
"As a portfolio service provider, Counsel selects investment specialists for various investment mandates, regularly monitors the performance of each investment specialist on its roster and evaluates the design structure of each portfolio," summarizes Sam Febbraro, Counsel's President & Chief Executive Officer.
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.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
--------------------- (1) Other costs include other taxes, borrowing costs, fees and expenses of Counsel's Independent Review Committee and any other new regulatory charges.
For further information: For further information: Meredith Adolph, Environics Communications, P: (416) 969-2667, E: [email protected]
Share this article