GBC Asset Management Inc. has made a change in portfolio advisors for GBC Canadian Bond Fund and GBC Money Market Fund, the company said Wednesday.

As well, the GBC announced a reduction in the management fee for GBC Canadian Bond Fund.

Effective April 1, Canso Investment Counsel Ltd., a Canadian based institutional investment counsellor since 1997, becomes the portfolio advisor for The GBC Canadian Bond Fund. Canso manages $1.9 billion in assets for Canadian investors.

As well, the management fee for the Class A Units of the fund is being reduced from a maximum of 1% to a maximum of 0.75% of the net asset value of the fund. As a result of this reduction GBC will no longer offer reduced management fees to clients.

Also effective April 1, Pembroke Management Ltd. becomes the portfolio advisor for GBC Money Market Fund. Pembroke is an investment counsellor located in Montreal and an affiliate of GBC. Pembroke is also the portfolio advisor for GBC Growth and Income Fund, GBC Canadian Growth Fund and GBC North American Growth Fund Inc.

GBC is the manager of a select number of mutual and pooled funds to high net-worth individuals and families. The firm was founded in 1988 and currently has approximately $500 million under management.

IE