TORONTO, Aug. 4, 2023 /CNW/ - BMO Investments Inc. ("BMO II"), the manager of BMO Concentrated U.S. Equity Fund and BMO SDG Engagement Global Equity Fund (each a "Fund" and collectively, the "Funds"), has announced its intention to terminate the Funds on or about October 6, 2023 (the "Termination Date").
Effective today, the Funds will no longer accept additional investments – including purchases through regular investment savings plans.
Affected securityholders are encouraged to contact their investment professional to discuss the Fund terminations and their investment options. Securityholders may redeem or switch their investment in a Fund until the close of business on October 5, 2023.
If alternative investment instructions are not received by October 5, 2023, investments in a Fund:
- In non-registered accounts – will be redeemed and investors will be paid the proceeds of these investments
- In registered accounts – on the Termination Date, will be transferred automatically into the BMO Money Market Fund
Securityholders will not be required to pay any redemption fees or sales charges upon redemption of their investment or the termination of a Fund.
BMO II will send a notice to each investor in a Fund regarding its termination.
For more information on BMO Mutual Funds, please visit www.bmo.com/mutualfunds.
®/™Registered trademarks/trademark of Bank of Montreal, used under licence.
BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal.
Commissions, trailing commissions (if applicable), management fees and expenses all may be associated with mutual fund investments. Please read the fund facts or prospectus before investing. BMO Money Market Fund is not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the Fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated. 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 prospectus.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of April 30, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.
SOURCE BMO Financial Group