IGM:CC - Counsel Portfolio Services Launches IPC High Interest Savings Fund

Canada NewsWire

TORONTO , Jan. 30, 2023 /CNW/ - Counsel Portfolio Services Inc. ("Counsel") today announced the launch of the IPC High Interest Savings Fund (the "Fund"), a Canadian-dollar investment solution designed to provide investors with a potentially higher rate of interest than a typical savings account. The Fund currently invests in cash deposits which provides it an attractive current gross rate of 4.75% ^* and is subject to changes in prevailing interest rates.

"This new offering is designed to provide investors with a great alternative to traditional savings accounts or guaranteed investment certificates (GICs) ^** ," said Sam Febbraro , Counsel's President & Chief Executive Officer. "The IPC High Interest Savings Fund provides financial advisors with greater flexibility and a wider choice of investment strategies when recommending a short-term solution to their clients during times of market turbulence."

Investors in the Fund can benefit from:

• Protection from the impact of market volatility - The Fund is shielded from the cumulative impact of market declines since it has no correlation to equity or bond markets.
• Flexibility and convenience - Cash can be easily withdrawn with no short-term trading restrictions or term commitments.
• Greater earnings on cash balances - The Fund currently invests in cash deposits and offers an attractive interest rate to its unitholders.
• Low-risk - The Fund is a low-risk investment, providing monthly interest to unitholders.

The Fund ^{^} will be available for purchase beginning today, January 30, 2023 .

"The IPC High Interest Savings Fund is an important addition to our existing suite of investment solutions," said Blair Setford , Vice President, Product Management at Counsel. "The IPC High Interest Savings Fund allows investors to earn a higher rate of interest in the short term on their cash balances. When ready, investors have the flexibility to return to the markets systematically."

For more information, please visit www.ipcportfolios.ca .

* Interest is calculated daily on the total closing balance and paid monthly. The effective interest rate will vary depending on the series. Current effective rates: Series A 4.47%; Series F/I/C 4.58%.
** Unlike mutual funds, the returns and principal of GICs are guaranteed.
^{^} The IPC High Interest Savings Fund is not Canada Deposit Insurance Corporation (CDIC) insured.

About Counsel Portfolio Services Inc.
Counsel is a subsidiary of Investment Planning Counsel Inc. ("IPC Inc."). With $4.2 billion in assets under management as at December 31, 2022 , Counsel provides comprehensive, objective portfolio solutions utilizing the strength and expertise of third–party portfolio managers. Counsel, through IPC Inc., is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies.

SOURCE Counsel Portfolio Services Inc.

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