BURLINGTON, Ontario, April 17, 2019 (GLOBE NEWSWIRE) -- Portland Investment Counsel Inc. (“Portland”) announced today a change to the risk rating of several Portland Mutual Funds. Portland determines the risk rating for the Portland Mutual Funds in accordance with the methodology required by the Canadian securities regulators. As a result of its annual review of the investment risk level of the Portland Mutual Funds, Portland has determined the risk ratings for the following funds will be changing as follows:

FundCurrent Risk RatingNew Risk Rating
Portland Canadian Focused FundMediumLow to Medium
Portland Global Banks FundHighMedium to High
Portland Global Dividend FundMediumLow to Medium
Portland 15 of 15 FundMediumLow to Medium

These changes will be reflected in the Portland Mutual Funds’ Simplified Prospectus and the applicable Fund Facts, which will be filed with Canadian securities regulators in connection with the Portland Mutual Funds’ 2019 annual renewal.

There are no changes to the investment objectives or strategies of these funds.

For further information, on Portland and Portland Mutual Funds, please visit www.portlandic.com or contact Client Services at 1-888-710-4242, option #1, or email at clientservices@portlandic.com.