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BMO Private Investment Counsel Inc. Announces Risk Rating Reductions for Certain BMO Private Portfolios

TORONTO, May 4, 2018 /CNW/ - BMO Private Investment Counsel Inc. (BPIC), the investment management arm of BMO Private Banking and the manager of the BMO Private Portfolios, today announced that the risk ratings of certain BMO Private Portfolios have been reduced, effective immediately.

The risk rating reductions are as follows:

Portfolio

Previous Risk Rating

New Risk Rating

BMO Private Canadian Special Equity Portfolio

High

Medium to High

BMO Private Diversified Yield Portfolio

Medium

Low to Medium

BMO Private U.S. Special Equity Portfolio

High

Medium to High

 

There are no changes to the investment objectives, strategies or management of these funds associated with their new risk ratings.

These changes are based on the new standardized risk-classification methodology mandated by the Canadian Securities Administrators and an annual review by BPIC to determine the risk level of publicly offered mutual funds.

BMO Private Banking is part of BMO Wealth Management and is a brand name under which banking services are offered through Bank of Montreal, investment management services are offered through BMO Private Investment Counsel Inc., a wholly-owned indirect subsidiary of Bank of Montreal, and estate, trust, planning and custodial services are offered through BMO Trust Company, a wholly-owned subsidiary of Bank of Montreal. BMO Wealth Management is a brand name that refers to Bank of Montreal and certain of its affiliates in providing wealth management products and services.

BMO (M-bar roundel symbol), BMO Private Banking registered trademarks, and BMO Wealth Management trademark are owned by Bank of Montreal, used under licence.

About BMO Financial Group 
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of January 31, 2018, and a team of diverse and highly engaged 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, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

For further information: Media Contacts: Alicia Skrinjar, Toronto, [email protected], (416) 867-3996; Valérie Doucet, Montreal, [email protected], (514) 877-8224

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