News Releases
BMO Nesbitt Burns Inc. today announced it will be expanding the BMO Nesbitt Burns fund family with the launch of three new fund of fund portfolios, available to clients November 1, 2004.
The new portfolios will be comprised of third-party mutual funds and will be managed by Gino Di Monte at Jones Heward Investment Counsel Inc., based on the recommendations of BMO Nesbitt Burns’ mutual fund research team, led by Peter Loach. The funds for the new portfolios will be selected from the research team’s list of top rated mutual funds.
“BMO Nesbitt Burns’ new portfolio funds have been designed for our clients who want to cut through the complexity and often times overwhelming choice available when it comes to investing in mutual funds,” said Connie Stefankiewicz, Senior Vice-President and Managing Director, BMO Nesbitt Burns. “The new portfolio funds will help take the guess work out of fund selection and asset mix by providing oversight of the funds and managers involved.”
The new portfolio funds have been designed to match three specific investor profiles; balanced, growth and all equity and will be named accordingly: BMO Nesbitt Burns Balanced Portfolio Fund, BMO Nesbitt Burns Growth Portfolio Fund, and BMO Nesbitt Burns All Equity Portfolio Fund.
“The BMO Nesbitt Burns Group of Funds is a mutual fund family we designed for investors seeking efficient access to BMO Nesbitt Burns’ research. Given our reputation in mutual fund research, these three new funds represent a logical addition to the fund family,” added Stefankiewicz. A copy of the preliminary prospectus may be obtained on www.sedar.com.
BMO Nesbitt Burns also offers clients the Canadian Stock Selection Fund, U.S. Stock Selection Fund, RRSP Stock Selection Fund, Bond Fund and the Balanced Fund. Effective November 1, 2004, BMO Nesbitt Burns will decrease the management fees on the Canadian Stock Selection Fund, the U.S. Stock Selection Fund and the RRSP Stock Selection Fund to 1.50 per cent, on the Bond Fund to 0.65 per cent and on the Balanced Fund to 1.40 per cent.
BMO Nesbitt Burns is part of BMO Financial Group’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 $283 billion at July 31, 2004.
A preliminary prospectus relating to the new portfolio funds has been filed with certain Canadian securities commissions or similar authorities. You cannot buy units of the funds until the relevant securities commissions or similar authorities issue receipts for the simplified prospectus of the funds.