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BMO Asset Management Inc. Announces Final Valuation and Declares Final Distribution on Units of Three Terminated BMO Exchange Traded Funds

TORONTO, Nov. 1, 2019 /CNW/ - BMO Asset Management Inc. (the "Manager"), today announced the final net asset values for each of BMO Global Banks Hedged to CAD Index ETF (Ticker: BANK), BMO Global Insurance Hedged to CAD Index ETF (Ticker: INSR) and BMO Shiller Select US Index ETF (Ticker: ZEUS) (each a "Fund" and collectively, the "Funds").

On July 31, 2019, the Manager pre-announced the termination of the Funds. Effective close of business November 1, 2019, the funds were terminated. The units of the Funds were previously de-listed, at the request of the Manager, from the Toronto Stock Exchange effective close of business on October 29, 2019.

Following the termination, the final unitholders of the Funds became entitled to receive the proceeds from the liquidation of the assets, less all liabilities and all expenses. The proceeds have been allocated to those unitholders on a pro rata basis at the rates (the "Final NAV") and in the currency shown in the table below and no further action is required by unitholders. In addition, immediately before the time of termination, unitholders of the Funds received a final distribution ("Final Distribution").

The Final NAV and the Final Distribution per unit of each of the Funds are as follows:

Name of ETF

Ticker

Final NAV per Unit ($CAD)

Final Distribution per Unit ($CAD)

BMO Global Banks Hedged to CAD Index ETF

BANK

$19.06196

$0.308812

BMO Global Insurance Hedged to CAD Index ETF

INSR

$23.78489

$1.018996

BMO Shiller Select US Index ETF

ZEUS

$22.73743

$0.097547

 

The Final Distribution on the units of the Funds were automatically reinvested at a price equal to the Final NAV per unit of each of the Funds and consolidated such that the number of units outstanding following the Final Distribution equalled the number of units outstanding immediately prior to the Final Distribution.

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

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

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the prospectus.  BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

Shiller Barclays CAPE® US Single Stock Index is the intellectual property of Barclays Bank PLC and has been licensed for use in connection with ZEUS. ZEUS is not sponsored, endorsed, sold or promoted by Barclays Bank PLC or any of its affiliates. Neither Barclays Bank PLC nor any of its affiliates makes any representations or warranties to holders of the ZEUS or any member of the public regarding the advisability of investing in the ZEUS.

Further information about BMO ETFs can be found at www.bmo.com/etfs.

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About BMO Exchange Traded Funds (ETFs)
Established in May 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
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 $839 billion as of July 31, 2019, 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: Orli Giroux Namian, Toronto, Orli.GirouxNamian@bmo.com, (416) 643-2257; Marie-Catherine Noël, Montréal, MarieCatherine.Noel@bmo.com, (514) 877-8224

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