Counsel Group of Funds Inc. is asking unitholders to approve the merger of several funds, along with changes to the funds’ investment objectives.

Counsel wants to:

  1. merge the assets of Counsel Focus Value with Counsel Focus (which will be renamed Counsel Select America) and to broaden and diversify the fundamental investment objective of Counsel Focus to include a value investment mandate (in conjunction with its existing growth investment style);
  2. merge the assets of Counsel World Equity with Counsel Select Value (which will be renamed Counsel Select International Equity) and to broaden and diversify the fundamental investment objective of Counsel Select Value to include a growth investment mandate (in conjunction with its existing value investment style); and
  3. broaden and diversify the fundamental investment objective of Counsel Select Canada by removing the requirement that it follow three particular and different investment styles.

Counsel says it is seeking these changes to create a more streamlined investment product offering to investors.

Notice of the unitholder meeting and information circular to consider this merger will be mailed to applicable unitholders for a meeting to be held in or about May 2005.

If approved, the mergers and changes to the fundamental investment objectives will take place in or around May 2005.

Counsel Group of Funds Inc. is a mutual fund company with approximately $1.5 billion under management.