BMO Harris Investment Management Inc. Announces Investment Strategy and Other Changes to Its Bond Portfolios
TORONTO, ONTARIO--(Marketwire - Dec. 21, 2012) - BMO Harris Investment Management Inc. ("BHIMI"), the investment management arm of BMO Harris Private Banking and the manager of BMO Harris Canadian Bond Income Portfolio, BMO Harris Canadian Total Return Bond Portfolio and BMO Harris Canadian Corporate Bond Portfolio (collectively, the "Bond Portfolios"), announced today that it will make certain changes (collectively, the "Changes") in respect of the Bond Portfolios. Each of the Changes will be effective on or about January 25, 2013.
BHIMI will change the name of BMO Harris Canadian Bond Income Portfolio to BMO Harris Canadian Short-Term Bond Portfolio and the name of BMO Harris Canadian Total Return Bond Portfolio to BMO Harris Canadian Mid-Term Bond Portfolio.
BHIMI will change the investment strategies of each of the Bond Portfolios to permit the Bond Portfolios' sub-advisor, BMO Asset Management Inc., to select fixed income securities in reference to the characteristics of a relevant bond index for each Bond Portfolio.
BHIMI will change the income distribution policy for BMO Harris Canadian Total Return Bond Portfolio and BMO Harris Canadian Corporate Bond Portfolio to distribute net income, if any, on a monthly basis rather than quarterly.
BHIMI is making the Changes as part of a broader redesign of its fixed income platform to deliver solutions that are more client-centric and better designed to meet clients' individual objectives.
About BMO Harris Private Banking
Backed by the stability and resources of BMO Financial Group, professionals at BMO Harris Private Banking are responsible for the successful management of wealth by providing expert advice and highly personalized services in banking, investment management, estate, trust, succession planning and philanthropic services - all in a coordinated and confident approach. With 34 offices across Canada, including Halifax, Montreal, Toronto, Calgary and Vancouver, BMO Harris Private Banking is able to service clients in a variety of languages.
Rachael McKay, Toronto
Valerie Doucet, Montreal
Laurie Grant, Vancouver