TORONTO, Sept. 5, 2019 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") today announced the results of two special meetings for unitholders of Counsel Income Portfolio and Counsel Balanced Growth Portfolio respectively, each held on September 4, 2019.
Unitholders of Counsel Income Portfolio approved the resolution to merge Counsel Income Portfolio, the terminating fund, into Counsel High Income Portfolio, the continuing fund.
Unitholders of Counsel Balanced Growth Portfolio approved a change of investment objective for the fund to permit it to invest in a balanced allocation of equity and fixed income exchange-traded funds (ETFs) that have an environmental, social and governance (ESG) focus. Counsel will rename the fund "IPC ESG Balanced Essentials Portfolio" and offer it as part of its IPC Essentials Portfolios lineup going forward.
The fund merger and investment objective change will both be implemented after the close of business on September 13, 2019.
About Counsel Portfolio Services Inc.
Counsel is a subsidiary of Investment Planning Counsel Inc. ("IPC Inc."). With $4.9 billion in assets under management as at July 31, 2019, 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.