News Releases

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - BMO Investments Inc. today announced a number of portfolio management changes.

BMO Asset Management Inc. ("BMOAM") will replace the current portfolio manager, UBS Global Asset Management (Canada) Co., and will assume all portfolio management duties in relation to BMO Global Monthly Income Fund. The investment strategies of BMO Global Monthly Income Fund will be changed to reflect the investment style of BMOAM. This change will be effective on or about November 15, 2012.

Monegy, Inc. ("Monegy") will replace the current portfolio manager, Guardian Capital LP, and will assume all portfolio management duties in relation to BMO Guardian Floating Rate Income Fund. The investment strategies of BMO Guardian Floating Rate Income Fund will be revised to reflect a shift towards investing in a larger proportion of U.S. floating rate note issuers. This change will be effective on or about November 23, 2012.

BMOAM will replace the current portfolio manager, Aberdeen Asset Management Inc., and will assume all portfolio management duties in relation to BMO Global Equity Class, a class of shares of BMO Global Tax Advantage Funds Inc. The investment strategies of BMO Global Equity Class will be revised to reflect the quantitative model based on fundamental equity analysis that will be used by BMOAM to select securities for and to construct BMO Global Equity Class' portfolio. This change will be effective on or about November 30, 2012.

"We are pleased to be able to make these changes to BMO Global Equity Class, BMO Global Monthly Income Fund and BMO Guardian Floating Rate Income Fund in order to continue to strengthen our fund lineup. These changes help us to continue to provide investment opportunities that align with the current and anticipated needs of our investors," said Hugh McKee, President, BMO Investments Inc.

About BMO Investments Inc.

BMO Investments Inc. is a member of BMO Financial Group and part of the organization's Private Client Group ("PCG"). PCG, BMO's group of wealth management businesses, serves a full range of client segments from mainstream to ultra-high net worth and institutional, with a broad offering of wealth management products and solutions including insurance products. PCG operates in both Canada and the United States, as well as in Asia and Europe and had total assets under management and administration of $445 billion as at July 31, 2012.

About BMO Asset Management Inc.

BMO Asset Management Inc. is a Canadian institutional money manager with over $40 billion in total assets under management. Clients include pensions, endowments, trusts, insurance company reserves, corporate surpluses and mutual funds. Its approach to investing draws upon the entire resources of a stable, experienced management team whose philosophy is based on creating wealth while diversifying portfolio risk. BMO Asset Management Inc. is also a member of BMO Financial Group.

About Monegy, Inc.

Monegy, Inc. ("Monegy") is a member of BMO Global Asset Management. Monegy's team of experienced professionals specializes in managing credit risk assets, including high-yield corporate bonds and bank loans. Their professionals have been dedicated managers of high-yield assets for more than a decade and have extensive experience managing portfolios through credit cycles and across markets. They provide a full suite of asset management solutions for institutional, retail and high net work investors. Their objective is to achieve attractive long-term risk-adjusted returns, while providing capital protection and superior client service.