News Releases
TORONTO, May 28, 2024 /CNW/ - BMO Global Asset Management ("BMO GAM") today announced the following changes to its product offering:
BMO GAM is launching the following funds:
Fund | Series offered |
BMO Inflation Opportunities Fund | Series A, F, I and Advisor Series |
BMO Strategic Fixed Income Yield Fund | Series A, F, I and Advisor Series |
BMO GAM intends to terminate the following series of BMO Mutual Funds (collectively, the "Terminating Series") on or about August 16, 2024 (the "Termination Date"):
Fund | Series |
BMO Enterprise Fund | T5 |
BMO European Fund | F6 and T6 |
BMO Global Small Cap Fund | Classic Series |
BMO Risk Reduction Equity Fund | Advisor Series |
BMO Risk Reduction Fixed Income Fund | Advisor Series and F |
BMO SelectTrust® Balanced Portfolio | Classic F |
BMO SelectTrust® Conservative Portfolio | C and T8 |
BMO SelectTrust® Income Portfolio | C, Classic F, T5 and T8 |
BMO Sustainable Global Balanced Fund | F6 and T6 |
BMO U.S. Dollar Money Market Fund | Classic Series |
BMO World Bond Fund | Classic Series |
Effective May 24, 2024, the Terminating Series were closed to new investments.
No redemption fees are payable upon the redemption or termination of Terminating Series units.
BMO GAM intends to consolidate the following fund series (collectively, the "Consolidating Series") on or about the Termination Date:
Fund | Consolidating Series | Continuing Series |
BMO Asset Allocation Fund | T5 | T6 |
BMO Concentrated Global Balanced Fund | T5 | T6 |
BMO Conservative ETF Portfolio | F4 | F6 |
BMO Diversified Income Portfolio | T5 | T6 |
BMO Diversified Income Portfolio | T8 | T6 |
BMO Dividend Fund | F4 | F6 |
BMO Dividend Fund | T5 | T6 |
BMO Equity Growth ETF Portfolio | F2 | F6 |
BMO Equity Growth ETF Portfolio | F4 | F6 |
BMO Fixed Income ETF Portfolio | F6 | F2 |
BMO Growth ETF Portfolio | F4 | F6 |
BMO Growth & Income Fund | T5 | T8 |
Effective May 24, 2024, the Consolidating Series were closed to new investments.
On the Termination Date, units of each Terminating Series in the preceding table will be switched to units of the corresponding Continuing Series.
BMO GAM intends to terminate the following funds (the "Terminating Funds") on or about the Termination Date:
BMO Preferred Share Fund
BMO Sustainable Opportunities China Equity Fund
Effective May 24, 2024, the Terminating Funds were closed to new investments.
No redemption fees are payable upon the redemption or termination of Terminating Fund units.
Effective June 2024 the distribution frequency of the following series will change:
Fund | Series | Current | New |
BMO Global Equity Fund | A, F, I, and Advisor Series | Monthly | Annual |
BMO Global Equity Fund | Active ETF Series (BGEQ) | Quarterly | Annual |
BMO Global Health Care Fund | Active ETF Series (BGHC) | Quarterly | Annual |
BMO Global Infrastructure Fund | Active ETF Series (ZGI) | Quarterly | Monthly |
Effective May 24, 2024, the risk rating of each of the following funds changed:
Fund | Previous | Current |
BMO Brookfield Global Real Estate Tech Fund* | Medium | Medium to High |
BMO Covered Call Utilities ETF Fund | Low to Medium | Medium |
BMO Global Infrastructure Fund | Low to Medium | Medium |
BMO Low Volatility U.S. Equity ETF Fund | Low to Medium | Medium |
BMO Sustainable Income Portfolio | Low | Low to Medium |
BMO Sustainable Opportunities China Equity Fund | Medium to High | High |
BMO US Small Cap Fund | Medium | Medium to High |
BMO USD Income ETF Portfolio | Low | Low to Medium |
* Hedged Series only. |
These risk rating changes are not a result of any change to the investment objectives, strategies, or management of any of the funds. They are based on the standardized risk classification methodology mandated by the Canadian Securities Administrators.
For more information about the funds, please visit www.bmo.com/mutualfunds.
"BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
Commissions, management fees and expenses (if applicable) 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, ETF facts or prospectus of the relevant mutual fund before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Distributions are not guaranteed and are subject to change and/or elimination.
For a summary of the risks of an investment in the BMO Mutual Funds, please see the specific risks set out in the prospectus. ETF Series of the BMO Mutual Funds 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.
BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of January 31, 2024. 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 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.
BMO Global Asset Management comprises BMO Investments Inc. and BMO Asset Management Inc., each of which is a separate legal entity from Bank of Montreal.
SOURCE BMO Financial Group
