An anonymous director reports

COUNSEL ANNOUNCES CHANGES RELATED TO PROSPECTUS RENEWAL

IGM Financial Inc. member Counsel Portfolio Services has made several changes to its investment solutions in advance of the renewal of its simplified prospectus and annual management report of fund performance (MRFP).

Risk rating change

Counsel reviews and adjusts risk ratings in accordance with the risk classification methodology managed by Canadian securities regulators. Accordingly, the risk rating of Counsel Conservative Portfolio will change as outlined herein. This change will be effective Oct. 27, 2023, and does not reflect any alteration to the investment objectives, strategies or management of the impacted mutual fund.

Series change

On or about Oct. 27, 2023, Counsel will redesignate Series Private Wealth I (PWI) funds so that all of Series I Private Wealth I unitholders will hold Series F. This change will result in the elimination of a duplicative series and simplify the overall product lineup. The resulting Series F units will have identical investment objectives and strategies, with management and administration fees either the same or lower than the former Series Private Wealth I.

Counsel Portfolio Services is announcing these changes in anticipation of the renewal of its simplified prospectus scheduled for Oct. 30, 2023.