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BMO Asset Management Inc. Lowers Management Fees on ETFs

- Now offering the lowest cost fixed income ETFs in Canada

- Management fees on broad fixed income ETFs reduced by more than 50 per cent

TORONTO, ONTARIO--(Marketwired - June 15, 2016) - BMO Asset Management Inc. ("BMO AM") today announced it is reducing the maximum annual management fee on certain of its exchange traded funds (collectively, the "ETFs").

Effective on or about June 22, 2016, the annual management fee for the ETFs will be reduced as follows:

BMO ETFs Ticker Current Maximum Annual Management Fee (%) New Maximum Annual Management Fee (%)
BMO Aggregate Bond Index ETF ZAG 0.20 0.09
BMO Discount Bond Index ETF ZDB 0.20 0.09
BMO S&P 500 Hedged to CAD Index ETF ZUE 0.10 0.08
BMO S&P 500 Index ETF ZSP/ZSP.U 0.10 0.08
BMO Short Corporate Bond Index ETF ZCS 0.12 0.10

"We consistently review our product shelf to find cost efficiencies to pass through to our clients," said Kevin Gopaul, Senior Vice President and Global Head of ETFs, BMO Asset Management Inc. "We further reduced fees on some of our largest and fastest growing ETFs, demonstrating our commitment to providing our clients with cost-efficient solutions."

Mr. Gopaul added, "Clients are recognizing the value and liquidity of using low-cost ETFs for fixed income exposures in their portfolios. We're pleased to deliver a fee reduction of more than 50 per cent on our broad market Canadian fixed income ETFs. We also now offer the lowest cost fixed income ETFs in Canada - BMO Aggregate Bond Index ETF and BMO Discount Bond Index ETF. As well, these fee reductions will help clients by lowering ETF fees for U.S. investing. This continues our trend of delivering the best solutions for our clients, following fee reductions in 2012, 2013 and 2014."

BMO ETFs are managed and administered by BMO Asset Management, a portfolio manager, investment fund manager and a separate legal entity from Bank of Montreal.

Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "TSX" is a trademark of TSX Inc. These trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed to BMO Asset Management Inc. in connection with ZUE, ZSP and ZSP.U. The ZUE, ZSP and ZSP.U. are not sponsored, endorsed, sold or promoted by S&P Dow Jones LLC, S&P, TSX, or their respective affiliates and S&P Dow Jones Indices LLC, S&P, TSX and their affiliates make no representation regarding the advisability of trading or investing in such ETF(s).

Further information about BMO ETFs can be found at

About BMO Exchange Traded Funds (ETFs)

Established in June 2009, BMO Financial Group's ETF business is a leading ETF provider in Canada. BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.

About BMO Financial Group

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $681 billion as of April 30, 2016, and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.

For further information:
Media Contacts:
Mark Beazley, Toronto

Valerie Doucet, Montreal