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- Flexibility and convenience - Cash can be easily withdrawn with no short-term trading restrictions or term commitments.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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