News Releases
TORONTO, June 23, 2008 – BMO Investments Inc., today launched the BMO U.S. High Yield Bond Fund. The new fund will provide investors with an opportunity to further diversify their portfolios with exposure to the U.S. high yield bond market.
The BMO U.S. High Yield Bond Fund will:
- Provide a high level of total return through a combination of income and capital appreciation by investing primarily in fixed income securities issued by United States corporations;
- Invest primarily in securities with a credit rating below BBB;
- Seek the best potential investments for the portfolio by analyzing the credit ratings of various issuers and using bottom up quantitative and fundamental analysis.
“Investing in U.S. high yield bonds provides investors with enhanced return potential and improved diversification given the bonds' historically lower correlation to other sectors of the fixed income market” said Linda Knight, President and Chief Operating Officer, BMO Investments Inc.
The new fund will be managed by HIM Monegy, Inc. HIM Monegy is part of Chicago-based Harris Investment Management, Inc., and operates within the BMO Financial Group. It is a wholly-owned, indirect subsidiary of Bank of Montreal, the parent company of BMO Investments Inc. HIM Monegy's experienced group of professionals is dedicated to managing high yield bonds, loans and credit default swaps. As of December 31, 2007, assets under management for HIM Monegy were approximately $1.4 billion (Cdn.).
The fund is available in both Series A units for retail investors and Series I units for institutional investors.
About BMO Investments Inc.
BMO Investments Inc. is a member of the 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 had total assets under management and administration and term investments of $286 billion as at April 30, 2008.
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