Mississauga, Ont.-based Counsel Portfolio Services Inc. announced a proposal to merge six corporate-class funds into their corresponding trust fund equivalents on Wednesday.

Currently, each of the terminating class funds invests solely in its respective continuing trust fund equivalent.

The mergers are conditional upon regulatory and investor approval. Full details of the proposed mergers will be outlined in a management information circular that will be mailed to all investors of record as of Oct. 28. Special meetings of the proposed mergers are scheduled to be held on or about Dec. 16.

If approved, the mergers are expected to be implemented on or about Jan. 13, 2017. If any merger is not approved, Counsel expects to terminate the applicable terminating class fund in the first quarter of 2017.

The list of corporate-class funds that Counsel plans to merge into the corresponding trust funds is available on the firm’s announcement.

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