Counsel Announces Results of Special Meeting on the Proposed Merger of Five Corporate Class Funds

TORONTO, Dec. 16, 2016 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") announced the results of today's special meeting of investors of five Corporate Class Funds.

Investors have approved the resolution to merge five Corporate Class Funds (the "Terminating Class Funds") into their corresponding trust fund equivalents (the "Continuing Trust Funds") as follows:

Terminating Class Funds	Continuing Trust Funds
Counsel Global Small Cap Class	Counsel Global Small Cap
Counsel International Growth Class	Counsel International Growth
Counsel Short Term Fixed Income Class	Counsel Short Term Bond
Counsel U.S. Growth Class	Counsel U.S. Growth
Counsel U.S. Value Class	Counsel U.S. Value

The mergers are expected to be effective on or about January 13, 2017. Investors will receive confirmation of the details of the mergers by mail.

The special meeting of investors of Counsel International Value Class, to approve a resolution merging the fund into Counsel International Value, has been adjourned until Tuesday, December 20, 2016 at 11:00 AM.

About Counsel Portfolio Services Inc.

Counsel Portfolio Services Inc. is a subsidiary of IPC Portfolio Services Inc., which is a subsidiary of Investment Planning Counsel Inc. (IPC Inc.). With $4.5 billion in assets under management as at November 30, 2016, 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.

For further information: Evelyn Juan, Environics Communications, Phone: [phone], Email: [e-mail]