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TORONTO, Oct. 13, 2023 /CNW/ - BMO Asset Management Inc. today announced a special reinvested distribution for unitholders of the ETF Series of BMO Brookfield Global Real Estate Tech Fund (TOWR) and the ETF Series of BMO Brookfield Global Renewables Infrastructure Fund (GRNI).
The reinvested distributions for the ETF Series of BMO Brookfield Global Real Estate Tech Fund (TOWR) and for the ETF Series of BMO Brookfield Global Renewables Infrastructure Fund (GRNI) generally represent net realized capital gains and net income. They are not paid in cash but are reinvested in additional units of the ETF Series of each fund at a price equal to the NAV per unit of the ETF Series for each fund.
Non-resident unitholders may have the number of additional units reduced because of withholding tax. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will be equal the number of units outstanding prior to the distribution. Reinvested distributions will increase the unitholder's adjusted cost base for the ETF Series of BMO Brookfield Global Real Estate Tech Fund (TOWR) and for the ETF Series of BMO Brookfield Global Renewables Infrastructure Fund (GRNI), as applicable.
Unitholders of record at the close of business on October 13, 2023, will receive the reinvested distribution. The actual taxable amount of the special reinvested distribution, including its tax characteristic, will be reported to brokers through CDS Clearing and Depository Services Inc. (CDS) in early 2024.
The special reinvested distribution amounts per unit of the ETF Series of BMO Brookfield Global Real Estate Tech Fund (TOWR) and BMO Brookfield Global Renewables Infrastructure Fund (GRNI) are as follows:
Fund Name | Ticker (TSX) | Special Reinvested |
BMO Brookfield Global Real Estate Tech Fund – (ETF Series) | TOWR | 0.068400 |
BMO Brookfield Global Renewables Infrastructure Fund – (ETF Series) | GRNI | 0.045630 |
Further information about BMO ETFs and ETF Series of the BMO Mutual Funds can be found at www.bmo.com/etfs.
Commissions, management fees and expenses all may be associated with investments in BMO ETFs and ETF Series of the BMO Mutual Funds. Please read the ETF facts or prospectus of the relevant BMO ETF or ETF Series before investing. BMO ETFs and ETF Series 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 or ETF Series of the BMO Mutual Funds, please see the specific risks set out in the prospectus. BMO ETFs and ETF Series 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.
BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. ETF Series of the BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
Distributions are not guaranteed and may fluctuate. Distribution rates may change without notice (up or down) depending on market conditions. The payment of distributions should not be confused with an investment fund's performance, rate of return or yield. If distributions paid by an investment fund are greater than the performance of the fund, your original investment will shrink.
Distributions of net income and net taxable gains of a BMO ETF will be included in the unitholder's income for tax purposes in the year they are paid, whether or not such amounts are reinvested in additional units. A unitholder's adjusted cost base will be reduced by the amount of any returns of capital. If a unitholder's adjusted cost base goes below zero, such unitholder will have to pay capital gains tax on the amount below zero. Please refer to the summary of the principal income tax considerations set out in the prospectus for the relevant BMO ETF or ETF Series. Investors should also consult their own tax advisors about their individual circumstances.
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About BMO Exchange Traded Funds (ETFs)
BMO Exchange Traded Funds has been an ETF provider in Canada for more than 12 years, with over 100 strategies, over 25 per cent market share in Canada1, and $87.6 billion in assets under management. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.
1Morningstar, December 2022
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 July 31, 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
