Professionals' Fund Group announces changes to its family of mutual funds

    MONTREAL, June 20 /CNW Telbec/ - Professionals' Fund Group today
announced that it will submit proposals to the unitholders of Quebec
Professionals' Balanced Fund and Quebec Professionals' Canadian Equity Fund,
at a meeting scheduled for late summer 2007, with the aim of changing the
investment objectives of these Funds and providing the investors with
long-term advantages.

    Quebec Professionals' Balanced Fund

    This Fund aims to achieve a rate of return made up of capital growth and
investment income. If they are approved by the unitholders, this Fund's new
investment objectives will consist of obtaining a high aggregate return,
including income from dividends and capital gains, by decreasing the target
for fixed income securities to 55% and increasing the equity target to 45%.

    Quebec Professionals' Canadian Equity Fund

    This Fund aims to generate added value through selection of securities
offering better investment opportunities. In a context of globalization, this
Fund's new investment objectives, if they are approved by the unitholders,
will include the benefit of a potential exposure to worldwide common and
dividend bearing preferred shares which could reach a target of 10% of
    The details of these proposals will be provided in the Management
Information Circular which will be transmitted to the unitholders of the
Quebec Professionals' Balanced Fund and the Quebec Professionals' Canadian
Equity Fund for the meeting scheduled for late summer 2007.
    Moreover, the manager, Professionals' Fund - Mutual Funds Inc., announces
that the following name changes have been approved by its Board of Directors,
to take effect immediately:

    - Quebec Professionals' Balanced Fund becomes Professionals' Balanced
    - Quebec Professionals' Balanced Growth Fund becomes Professionals'
      Balanced Growth Fund;
    - Quebec Professionals' Bond Fund becomes Professionals' Bond Fund;
    - Quebec Professionals' Short Term Fund becomes Professionals' Short Term
    - Quebec Professionals' Canadian Equity Fund becomes Professionals'
      Canadian Equity Fund;
    - Quebec Professionals' Global Equity Fund becomes Professionals' Global
      Equity Fund;
    - Quebec Professionals' American Index Fund becomes Professionals'
      American Index Fund;
    - Quebec Professionals' European Equity Fund becomes Professionals'
      European Equity Fund; and
    - Quebec Professionals' Asian Equity Fund becomes Professionals' Asian
      Equity Fund.

    Furthermore, around July 31, 2007, Fidelity Investments Canada Limited
and Scheer, Rowlett & Associates Investment Management will replace the
current external securities sub-advisor of Professionals' Canadian Equity
Fund. Professionals' Fund - Mutual Funds Inc., as portfolio manager, will
remain responsible for implementing the Fund's investment strategy.
    In the mandate that will be entrusted to it, Fidelity Investments, the
biggest mutual fund company in the United States, will favor an approach based
on an active Canadian securities selection while maintaining sector
    Scheer, Rowlett & Associates, an affiliate of Connor, Clark & Lunn
Financial Group, will apply a bottom-up value-based investment style in
performing its mandate.
    Finally, around October 8, 2007, the current trustee, custodian, transfer
agent responsible for the Funds' registers, and trustee of the registered
plans will be replaced by State Street Trust Company Canada, a division of
State Street Bank & Trust Company, a world leader in financial services.
International Financial Data Services (Canada) Limited, a joint venture of
State Street Corporation, will ensure other administration and registrar
services for the Funds.

    About Professionals' Fund Group

    Professionals' Fund Group serves the following professional/shareholder
groups: the Federation of Medical Specialists of Québec, the Association des
chirurgiens dentistes du Québec, the Corporation de service des notaires du
Québec, the Association of Architects in Private Practice of Québec and the
Association québécoise des pharmaciens propriétaires. The members of the
Fédération des médecins résidents du Québec, a partner of Professionals' Fund
Group, also have access to the same services. Initially designed for
professionals not covered by a pension plan and their family members,
Professionals' Fund Group today offers complete and personalized mutual fund,
private wealth management and financial, estate and retirement planning
services. The Group actively manages assets of $1.8 billion for more than
8,500 clients. It is headquartered in Montreal, with offices in Québec City
and Sherbrooke.

For further information:

For further information: Lison Couture, Chief Compliance Officer,
Professionals' Fund Group, (514) 350-5169, 1-888-377-7337, Fax: (514)
350-5055,, For more details:; Gail
Snyder, Vice-President, Communications and Marketing, Professionals' Fund
Group, (514) 350-5086, 1-888-377-7337, Fax: (514) 350-5060,, For more details:; Source:
Professionals' Fund Group

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