BMO Investments Inc. Announces Risk Rating Changes, Changes to BMO LifeStage Plus 2030 Fund, New Funds and Series and Discontinues Low Load Deferred Sales Charge Purchase Option
TORONTO, May 22, 2020 /CNW/ - BMO Investments Inc. ("BMOII"), the manager of the BMO Mutual Funds, today announced risk rating changes to certain funds, capping one of its funds to new investors, qualifying new funds and series and its intention to discontinue the low load deferred sales charge purchase option for new purchases.
Risk Rating Changes
Effective immediately, the risk ratings of the funds listed in the table below have been changed. There are no changes to the investment objectives, strategies or management of these funds associated with the new risk ratings.
These risk rating changes are based on the standardized risk classification methodology mandated by the Canadian Securities Administrators and an annual review by BMOII to determine the risk level of its publicly offered mutual funds.
Fund
| Previous Risk Rating
| New Risk Rating
|
BMO Global Energy Class
| Medium to High
| High
|
BMO Global Multi-Sector Bond Fund
| Low to Medium
| Low
|
BMO Greater China Class
| Medium to High
| Medium
|
BMO Low Volatility Canadian Equity ETF Fund
| Medium
| Low to Medium
|
BMO LifeStage Plus 2030 Fund
BMO LifeStage Plus 2030 Fund will no longer be available for purchase by investors, including under any pre-authorized contribution plan, effective as of the close of business on May 22, 2020.
New Funds Qualified
BMOII has qualified the following new funds with the following series (subject to receipt of securities regulatory approval):
Fund
| Series
|
BMO Low Volatility U.S. Equity ETF Fund
| Series A, T4, F, F4, D, I and Advisor Series
|
BMO Principle Balanced Portfolio
| Series A, T6, F, F6, D, I and Advisor Series
|
BMO Principle Growth Portfolio
| Series A, T6, F, F6, D, I and Advisor Series
|
BMO Principle Conservative Portfolio
| Series A, T6, F, F6, D, I and Advisor Series
|
BMO Principle Income Portfolio
| Series A, T6, F, F6, D, I and Advisor Series
|
BMO Sustainable Opportunities Canadian Equity Fund
| Series A, F, D, I and Advisor Series
|
BMO Target Education 2040 Portfolio
| Series A and D
|
BMO USD Balanced ETF Portfolio
| Series A, T6, F, F6, D, I and Advisor Series
|
BMO USD Conservative ETF Portfolio and
| Series A, T6, F, F6, D, I and Advisor Series
|
BMO USD Income ETF Portfolio
| Series A, T6, F, F6, D, I and Advisor Series
|
New Series
BMOII has launched the following new series on the following funds (subject to receipt of securities regulatory approval):
Fund
| Series
|
BMO Concentrated Global Balanced Fund
| Series F (Hedged), Series I and Advisor Series (Hedged)
|
BMO Concentrated Global Equity Fund
| Series F (Hedged) and Advisor Series (Hedged)
|
Termination of Low Load Deferred Sales Charge Purchase Option
BMOII will discontinue the low load deferred sales charge purchase option for new purchases, including pre-authorized purchases, across the entire BMO Mutual Funds lineup effective on or about November 1, 2020.
Investors with existing low load purchase option holdings will remain invested based on the redemption fee schedule applicable to those securities, and switches from existing securities acquired under the low load purchase option will continue to be available to certain funds.
For more information about BMO Mutual Funds please visit www.bmo.com/mutualfunds.
®/™Registered trade-marks/trade-mark of Bank of Montreal, used under licence.
BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc., BMO Investments Inc., BMO Asset Management Corp., BMO Asset Management Limited and BMO's specialized investment management firms.
BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in mutual funds. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the fund facts or simplified prospectus of the relevant mutual fund before investing. Mutual 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 BMO Mutual Funds, please see the specific risks set out in the simplified prospectus.
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 $880 billion as of January 31, 2020, 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: Colleen Hamilton, Toronto, Colleen.Hamilton@bmo.com, (416) 867-3996