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      News Releases

      BMO Investments Inc. Reduces Fees and Makes Other Changes to Mutual Fund Lineup

      TORONTO, May 1, 2017 /CNW/ - BMO Investments Inc. (BMOII) today announced new mutual fund series launches and fee reductions across its lineup.

      BMOII has expanded its cash flow solutions, with Series F4 being added to five of the BMO ETF Portfolios. Building off its comprehensive suite of fee based solutions, BMOII has also added Series F to certain Index Funds giving investors access to global exposures at a low cost. BMOII also expanded its offering by adding Series F and Advisor Series on the BMO Risk Reduction Funds, giving investors access to innovative fixed income and equity solutions with a focus on downside protection.

      "The need to generate greater returns at a lower cost, while managing volatility, is driving client demands for new and innovative products. We've responded with the launch of Risk Reduction Funds, as they go beyond traditional equity and fixed income solutions said Kevin Gopaul, Head, BMO Global Asset Management Canada, Global Head of ETFs and Chief Investment Officer, BMO Asset Management Inc. "We also lowered fees across our product shelf, demonstrating our commitment to providing our clients with low cost solutions."

      Effective on or about April 24, 2017, BMOII reduced management fees by up to 45 basis points on certain Series A, Series D, Series F, Series T5 and Advisor Series of 12 BMO Mutual Funds as listed in the chart below:

      Fund

      Current Management Fee

      New Management Fee

      BMO Canadian Equity ETF Fund

      Series A: 0.85%

      Series D: 0.60%

      Series A: 0.75%

      Series D: 0.50%

      BMO U.S. Dollar Equity Index Fund

      Series A: 0.85%

      Series A: 0.80%

      BMO U.S. Equity ETF Fund

      Series A: 0.85%

      Series A: 0.80%

      BMO International Equity ETF Fund

      Series D: 0.70%

      Series D: 0.60%

      BMO Target Education 2020 Portfolio

      Series A: 1.40%

      Series D: 0.75%

      Series A: 1.25%

      Series D: 0.70%

      BMO Target Education 2025 Portfolio

      Series A: 1.50%

      Series D: 0.85%

      Series A: 1.25%

      Series D: 0.70%

      BMO Target Education 2030 Portfolio

      Series A: 1.60%

      Series D: 0.95%

      Series A: 1.25%

      Series D: 0.70%

      BMO Target Education 2035 Portfolio

      Series A: 1.70%

      Series D: 1.05%

      Series A: 1.25%

      Series D: 0.70%

      BMO Target Education Income Portfolio

      Series A: 0.70%

      Series D: 0.55%

      Series A: 0.60%

      Series D: 0.50%

      BMO Global Dividend Class

      Series A: 2.00%

      Series T5: 2.00%

      Advisor Series: 2.00%

      Series A: 1.90%

      Series T5: 1.90%

      Advisor Series: 1.90%

      BMO Global Equity Class

      Series A: 2.00%

      Advisor Series: 2.00%

      Series A: 1.85%

      Advisor Series: 1.85%

      BMO International Value Class

      Series A: 2.00%

      Series F: 0.80%

      Advisor Series: 2.00%

      Series A: 1.90%

      Series F: 0.75%

      Advisor Series: 1.90%

       

      Effective on or about April 24, 2017, BMOII reduced the administration fee across 9 BMO Mutual Funds as indicated in the chart below:

      Fund

      Current
      Administration Fee

      New
      Administration Fee

      BMO International Equity ETF Fund

      0.19%

      0.10%

      BMO U.S. Dollar Equity Index Fund

      0.20%

      0.10%

      BMO U.S. Equity ETF Fund

      0.20%

      0.10%

      BMO Global Equity Class

      0.35%

      0.30%

      BMO Emerging Markets Fund

      0.40%

      0.30%

      BMO Global Infrastructure Fund

      0.35%

      0.30%

      BMO International Value Fund

      0.35%

      0.30%

      BMO International Value Class

      0.35%

      0.30%

      BMO Asian Growth and Income Class

      0.40%

      0.25%

       

      Effective on or about April 24, 2017, BMOII reduced the trailing commission or service fee across the BMO Target Education Portfolios as indicated in the chart below:

      Fund

      Current Trailer

      New Trailer

      BMO Target Education 2020 Portfolio

      0.75

      0.60

      BMO Target Education 2025 Portfolio

      0.75

      0.60

      BMO Target Education 2030 Portfolio

      0.75

      0.60

      BMO Target Education 2035 Portfolio

      0.75

      0.60

       

      Risk Rating Changes

      The risk rating for the following funds is changed as set out below, effective April 24, 2017, to align better with these funds' risk levels.

      Fund


      Current Rating


      New Rating

      BMO LifeStage Plus 2017


      Low to Medium


      Low

      BMO LifeStage Plus 2020


      Low to Medium


      Low

       

      These new risk ratings reflect the shift in the funds' investments as they approach their respective target end date.

      Merger of BMO LifeStage Plus 2017 Fund with BMO Money Market Fund

      BMO LifeStage Plus 2017 Fund (BMO LSP 2017) is approaching its June 30, 2017 target maturity date. Upon maturity, BMO LSP 2017 will be merged into BMO Money Market Fund on a tax deferred basis, effective after the close of business on or about June 30, 2017. The Independent Review Committee of the BMO Mutual Funds approved the merger after considering and determining that, if implemented, the merger would achieve a fair and reasonable result for the securityholders of both funds. Securityholders of BMO LSP 2017 will receive securities of BMO Money Market Fund, determined on a dollar-for-dollar basis, and BMO LSP 2017 will be wound up as soon as possible following the merger.

      For more information on BMO Mutual Funds please visit www.bmo.com/mutualfunds.

      Get the latest BMO press releases via Twitter by following @BMOmedia.

      BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal. Global Tax Advantage Funds are classes of BMO Global Tax Advantage Funds Inc., a separate entity managed by BMO Investments Inc.

      Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts or prospectus of the mutual fund before investing. Mutual funds are not guaranteed.

      About BMO Financial Group
      Established in 1817, and currently marking its 200th year of operations, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $692 billion as of January 31, 2017, and more than 45,000 employees, BMO provides a broad range of personal and commercial 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.                                                 

      SOURCE BMO Financial Group

      For further information: Media Contacts: Catherine Litwinski, Toronto, catherine1.litwinkski@bmo.com, 416-867-3996 Valerie Doucet, Montréal, valerie.doucet@bmo.com, 514-877-8224