News Releases

BMO Investments Announces Unitholder Approval of Changes to the BMO International Bond Fund

Changes to the BMO International Bond Fund’s investment objectives were approved at a special meeting of unitholders held on July 21, 2005. The Fund will also be renamed “BMO World Bond Fund” to reflect the changes to the Fund’s investment objectives. The changes will be effective on July 22, 2005.

The investment objectives have been broadened to allow the Fund to invest in bonds and debentures issued by governments and corporations around the world, including Canada and the United States. Previously, the Fund could invest only in bonds and debentures issued by governments and corporations outside North America.

“The BMO World Bond Fund will now provide investors with greater geographic diversification and enhanced income earning potential,” said Ed Legzdins, President and CEO, BMO Investments Inc.

Changing the Fund’s investment objectives will result in diversified fixed income exposure around the world, including investments in the U.S. market, one of the world's largest bond markets.

New Name for BMO U.S. Value Fund
Effective July 22, 2005, BMO U.S. Value Fund’s name will be changed to “BMO U.S. Equity Fund”, to better reflect the composition of U.S. securities within the Fund’s portfolio. BMO U.S. Equity Fund will continue to be offered in both Canadian and US dollars.

Elimination of Foreign Content Rebalancing
With the recent approval of the 2005 Federal Budget, the 30 per cent foreign content limit for investments held within Registered Retirement Savings Plans and Registered Retirement Income Funds has now been eliminated. As a result, BMO Investments Inc. has discontinued foreign content rebalancing for RRSPs and RRIFs as of July 1, 2005.

“The elimination of the foreign content limit provides investors with more options for their RRSPs and RRIFs, as they will now be able to take advantage of greater global diversification,” said Mr. Legzdins.

BMO Investments Inc. 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 $290 billion as at April 30, 2005.

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