Toronto-based Counsel Portfolio Services Inc. has made changes to its product offerings in concert with the filing of the renewal of its simplified prospectus, the investment manager announced Tuesday.

Counsel has adjusted the classification of funds included in the prospectus to bring them in line with the Canadian Investment Funds Standards Committee, and changed the risk ratings on two funds (Counsel Global Small Cap, reduced to medium from medium-to-high, and Counsel High Income Portfolio, reduced to low from low-to-medium).

Additionally, Counsel Global Dividend and Counsel Global Real Estate have undergone revisions to their distribution policies. While these funds previously distributed quarterly and annually respectively, the revision is “meant to reflect the yield characteristics of these funds and ensure a more consistent allocation of income to investors throughout the year,” Counsel says in a news release.

Lastly, following a review of the fund’s yield characteristics, the fixed monthly distribution of Counsel Retirement Income Portfolio was changed to 3¢ per unit, or 36¢ annually (reduced from 40¢ annually). This change is also based on Counsel’s aim to approximate a 4% yield based on the net asset value per unit, the company says.