Titan Funds Inc. has agreed to amalgamate with Counsel Portfolio Services Inc., the companies said Thursday.

Toronto-based Counsel is a portfolio manager and the investment fund manager of the Counsel Funds and Counsel Portfolios. Calgary-based Titan is the manager of the Titan Managed Portfolios, which are available through Partners In Planning Financial Services Ltd., a subsidiary of Investment Planning Counsel Inc., and other selected dealers.

Titan Funds and Counsel are wholly owned subsidiaries of IPC Portfolio Services Inc., which is an indirect subsidiary of Investment Planning Counsel Inc. and Winnipeg based IGM Financial Inc.

The amalgamation is expected to occur on January 1, subject to all necessary approvals.

Upon the amalgamation, the merged company will be known as Counsel Portfolio Services Inc. and the board of directors of the amalgamated company is expected to be the same as Counsel’s existing board of directors. Counsel will continue to offer the Titan Managed Portfolios.

Titan Managed Portfolios are available through Partners In Planning Financial Services Ltd., a subsidiary of Investment Planning Counsel Inc., and other selected dealers.

IE