Counsel Group of Funds Inc. has changed the investment strategy for two of its funds: Counsel Select Sector and Counsel Select Sector RSP.

In statement released Friday, Counsel the changes stem from a recent fund merger at CI Mutual Funds Inc.

As part of their investment strategies, both Counsel Select Sector and Counsel Select Sector RSP invest a specified portion of their assets in CI Global Telecommunications Sector Fund.

CI merged the assets of CI Global Telecommunications Sector Fund with CI Global Technology Sector Fund. The fund was then renamed as CI Global Science & Technology Sector Fund.

Consistent with the merger, the two Counsel funds now invest a portion of their assets in the CI Global Science & Technology Sector Fund.

Counsel also confirmed that unitholders of Counsel Select Sector RSP recently approved a proposal to merge the assets of Counsel Select Sector RSP with Counsel All Equity RSP Portfolio. Counsel said merger will become effective during or about September 2003.