Counsel to merge funds, lower fees

Counsel Portfolio Services Inc. will merge seven of its corporate class funds into their corresponding trust fund equivalents, as shown in the table below.

The mergers will reduce duplication and simplify Counsel’s fund lineup.

Each of the continuing trust funds has similar investment objectives to the terminating class funds, whereby either the terminating class fund invests directly in its continuing trust fund or the merging funds have the same target investment allocation in underlying funds.

Terminating class funds	Continuing trust funds
Counsel Canadian Dividend Class	Counsel Canadian Dividend
Counsel Canadian Growth Class	Counsel Canadian Growth
Counsel Canadian Value Class	Counsel Canadian Value
Counsel Conservative Portfolio Class	Counsel Conservative Portfolio
Counsel Balanced Portfolio Class	Counsel Balanced Portfolio
Counsel Growth Portfolio Class	Counsel Growth Portfolio
Counsel All Equity Portfolio Class	Counsel All Equity Portfolio

Costs and expenses associated with the mergers will be borne by Counsel, not the funds.

The mergers will occur on or about Sept. 7, on a tax-deferred basis. Investors will receive notification of merger details by mail 60 days prior to completion.

Fee reductions

Counsel is decreasing fees to the lower of the combined management fee and administration fee for each series of either the terminating classes or continuing trust funds. These changes, which will be effective on or about Sept. 4, will ensure that investors in the terminating class funds continue to have the same or lower fees following the mergers. As part of these changes, Counsel will also launch Series T versions of certain continuing trust funds to facilitate the mergers.

Continuing trust funds	Series	Continuing management fee	Management fee decrease
Counsel All Equity Portfolio	A	2.10%	0.02%
Counsel All Equity Portfolio	F	1.15%	0.02%
Counsel Canadian Dividend	A	1.85%	0.05%
Counsel Canadian Dividend	F	0.85%	0.14%
Counsel Canadian Dividend	I	0.85%	0.14%
Counsel Canadian Growth	F	0.95%	0.18%
Counsel Canadian Growth	I	0.95%	0.18%
Counsel Canadian Value	F	0.85%	0.23%
Counsel Canadian Value	I	0.85%	0.23%
Counsel Conservative Portfolio	F	0.95%	0.01%
Counsel Conservative Portfolio	I	0.95%	0.01%
Counsel Conservative Portfolio	PWI*	0.95%	0.01%
Counsel Growth Portfolio	A	2.00%	0.06%
Counsel Growth Portfolio	F	1.05%	0.02%
Counsel Growth Portfolio	I	1.05%	0.02%
Counsel Growth Portfolio	PWI*	1.05%	0.02%
Counsel Canadian Dividend	T	1.85%	n/a
Counsel Balanced Portfolio	T	1.95%	n/a
Counsel Conservative Portfolio	T	1.90%	n/a
Counsel Growth Portfolio	T	2.00%	n/a