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Counsel Global Small Cap Fund will change to having two sub-advisors from three, effective Apr. 17, Toronto-based Counsel Portfolio Services Inc. announced Friday.

The fund currently has three mandates: Canada; U.S. and international.

After the change, the U.S. and international mandates will be combined into one global ex-Canada mandate sub-advised by Salt Lake City-based Wasatch Global Investors, Counsel says in a news release.

Toronto-based Mackenzie Financial Corp. will continue to sub-advise the Canada mandate.

The fund is an underlying fund to Counsel Conservative Portfolio, Counsel Balanced Portfolio, Counsel Growth Portfolio and Counsel All Equity Portfolio.

Counsel is a subsidiary of Investment Planning Counsel Inc.