News Releases

GGOF Guardian Group of Funds has launched GGOF U.S. Diversified Monthly Income Fund for investors seeking regular U.S. income. Modelled on the highly successful GGOF Diversified Monthly Income Fund, the new U.S. fund will provide investors with regular distributions of 2.25 U.S. cents per unit per month.

GGOF U.S. Diversified Monthly Income Fund is composed of five U.S. asset classes, including Ginnie Maes (formally known as GNMAs), preferred shares, high yield bonds, real estate investments trusts (REITs), and dividend-paying common shares.

"We're capitalizing on our expertise in designing income products that generate regular monthly income from a well diversified mix of assets," said Gavin Graham, Vice-President and Director of Investments, GGOF Guardian Group of Funds. "These asset classes generally demonstrate little correlation with each other, thereby diversifying both income and capital risk."

"We have had a great deal of interest from advisors for a fund that provides regular U.S. dollar income, moderate volatility and some potential for capital appreciation for their clients," added John Boeckh, GGOF's Senior Vice-President of Marketing.

GGOF portfolio advisor Lazard Asset Management will manage the Ginnie Maes, a form of mortgage-backed security representing ownership in a diversified package of mortgages. Ginnie Maes are guaranteed by the Government National Mortgage Association, an agency of the U.S. government. Lazard Asset Management will also manage high yield bonds and dividend-paying common shares. GGOF Investment Management, with input from U.S. REIT consultant Towerhouse Capital Management, will manage the preferred shares and REITs.

GGOF Guardian Group of Funds provides investors with a full product line of 30 mutual funds, diversified by asset class, geographic region and investment style. GGOF, with $3.9 billion of mutual fund assets under management at March 31, 2004, offers its funds exclusively through financial intermediaries.

GGOF is a member of BMO Financial Group and part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and has total assets under management and administration and term investments of $278 billion at January 30, 2004.

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