Ethical Funds Inc. on Friday announced a change in the portfolio management of the Ethical Balanced Fund.

Effective March 21, Greystone Managed Investments Inc. will be appointed as the portfolio manager of the global component of the Ethical Balanced Fund replacing Dresdner RCM Global Investors LLC.

Greystone, which has managed the Canadian component of the fund since Oct. 1, 2000, will now actively manage the global component in the fund. It will follow the same investment process used with the Canadian equity portion of the fund.

“We are confident that Greystone, with its expertise and commitment to our Ethical Principles, will provide the Ethical Balanced Fund with the top quality portfolio management our investors have come to expect”, said Margaret Yee, president and COO.