Counsel Group of Funds Inc. has named PanAgora Asset Management Inc. as the global tactical asset allocation specialist for Counsel World Managed Portfolio, Counsel said Tuesday.

PanAgora, a Boston-based asset management firm, will replace Credit Suisse Asset Management LLC effective April 28.

Established in 1989, PanAgora is a leader in quantitative structured investment strategies. The firm’s investment philosophy combines the principles of behavioural finance with the long-term cyclical view of the market. Using a quantitative management investment approach, PanAgora identifies opportunities to capitalize on short-term changes within each asset class.

Counsel World Managed Portfolio is globally diversified across various asset classes and managed by nine investment specialists, either directly or through an underlying mutual fund. Each investment specialist has been appointed for their individual expertise in a specific geographic market, asset class and/or investment style.

As a portfolio service, Counsel says it monitors each investment specialist so that they continue to remain the ideal money manager for the objectives of our mandates.

Counsel has revised the risk category rating for Counsel Fixed Income to “low” from “low to moderate”, effective immediately. “The revision reflects reduced volatility in Counsel Fixed Income as the mandate’s permitted exposure to equity-related investments has decreased,” says Sam Febbraro, Counsel’s president and CEO.

“Counsel regularly evaluates the risk profile of all Counsel investment solutions. These evaluations allow us to determine if the anticipated level of volatility within a portfolio is consistent with its investment objectives,” Febbraro explains.

Counsel Group of Funds Inc. is a wholly owned investment management firm of Investment Planning Counsel Inc.

IE