Counsel Portfolio Services Wednesday announced the appointment of Timbercreek Asset Management Inc. as the sub-advisor for Counsel Global Real Estate. Both companies are based in Toronto.
Timbercreek will assume sub-advisory responsibilities on July 7.
As an enhancement to the existing mandate, for diversification purposes, Counsel Global Real Estate may now also invest in preferred equity securities and fixed income securities issued by real estate companies at times that the portfolio manager deems appropriate. These strategies are intended to maximize return, reduce volatility, and preserve capital.
Counsel Global Real Estate is an underlying fund to Counsel Conservative Portfolio, Counsel Conservative Portfolio Class, Counsel Regular Pay Portfolio, Counsel Balanced Portfolio, Counsel Balanced Portfolio Class, Counsel Growth Portfolio, Counsel Growth Portfolio Class, Counsel All Equity Portfolio, Counsel All Equity Portfolio Class, Counsel Managed Yield Portfolio, Counsel Managed High Yield Portfolio, Counsel Income Managed Portfolio, and Counsel World Managed Portfolio.
Counsel Portfolio Services Inc. is a direct subsidiary of IPC Portfolio Services Inc., which is an indirect subsidiary of Investment Planning Counsel Inc.