Fund manager announces new series for certain offerings, proposing changes to other funds
BMO Investments Inc. has announced a raft of changes to the Big Six bank’s mutual funds.
On or about August 27, new series F and series F6 units will be added to the following funds:
|
Fund |
Series |
|
BMO Ascent™ Balanced Portfolio |
Series F6 |
|
BMO Ascent™ Conservative Portfolio |
Series F6 |
|
BMO Ascent™ Equity Growth Portfolio |
Series F6 |
|
BMO Ascent™ Growth Portfolio |
Series F6 |
|
BMO Ascent™ Income Portfolio |
Series F6 |
|
BMO Asset Allocation Fund |
Series F6 |
|
BMO Balanced ETF Portfolio Class |
Series F6 |
|
BMO Canadian Large Cap Equity Fund |
Series F6 |
|
BMO Diversified Income Portfolio |
Series F6 |
|
BMO Equity Growth ETF Portfolio Class |
Series F6 |
|
BMO Fixed Income ETF Portfolio |
Series F6 |
|
BMO FundSelect® Balanced Portfolio |
Series F |
|
BMO FundSelect® Equity Growth Portfolio |
Series F |
|
BMO FundSelect® Growth Portfolio |
Series F |
|
BMO FundSelect® Income Portfolio |
Series F |
|
BMO Global Low Volatility ETF Class |
Series F6 |
|
BMO Global Monthly Income Fund |
Series F |
|
Series F6 |
|
|
BMO Growth and Income Fund |
Series F6 |
|
BMO Growth ETF Portfolio Class |
Series F6 |
|
BMO Income ETF Portfolio Class |
Series F6 |
|
BMO Monthly High Income Fund II |
Series F6 |
|
BMO SelectClass Balanced Portfolio |
Series F6 |
|
BMO SelectClass Equity Growth Portfolio |
Series F6 |
|
BMO SelectClass Growth Portfolio |
Series F6 |
|
BMO SelectClass Income Portfolio |
Series F6 |
|
BMO SelectTrust Fixed Income Portfolio |
Series F6 |
|
BMO Target Education 2025 Portfolio |
Series F |
|
BMO Target Education 2030 Portfolio |
Series F |
|
BMO Target Education 2035 Portfolio |
Series F |
|
BMO Target Education 2040 Portfolio |
Series F |
|
BMO Target Education Income Portfolio |
Series F |
|
BMO U.S. Dollar Equity Index Fund |
Series F |
|
BMO U.S. Dollar Money Market Fund |
Series F |
|
BMO U.S. Dollar Monthly Income Fund |
Series F6 |
BMOII is also proposing to merge the BMO Global Growth & Income Fund into BMO Global Equity Fund. At the same time, the firm is seeking to update the objectives of BMO Global Multi-Sector Bond Fund and BMO Global Balanced Fund to include a responsible investment approach to both funds, with the funds’ investment strategies and names to be updated to reflect the responsible investing mandate.
BMOII will hold a special meeting for unitholders to vote on the proposed changes on or about November 5. Pending unitholder and regulatory approvals – including approvals in respect to ETF series units of BMO Global Multi-Sector Bond Fund – the changes will take effect on or about November 19.
Finally, BMOII announced that on or about November 19, pursuant to the proposed merger of BMO Global Growth & Income Fund into BMO Global Equity Fund, management fees for series A, advisor series, and series T6 securities of BMO Global Equity Fund will be reduced as follows:
|
Series of BMO Global Equity Fund |
Current Annual Management Fee |
New Annual Management Fee |
|
Series A |
1.85% |
1.60% |
|
Advisor Series |
1.85% |
1.60% |
|
Series T6 |
1.85% |
1.60% |
At the same date, the administration fee for the fund will also be reduced from 0.30% to 0.25%.
Learn how to Invest in BMO Mutual Funds in this article.
