The financial services provider has announced its decision to discontinue certain NBA and NBF series of its mutual funds
In an August 15 news release, BMO Investments Inc. (BMOII) announced the termination of certain Series NBA and Series NBF offerings.
Effective on or about October 21, 2016, the following series shall be terminated:
| Fund | Series |
| BMO Bond Fund | NBA and NBF |
| BMO Asset Allocation Fund | NBA |
| BMO International Value Fund | NBA and NBF |
| BMO U.S. Equity Fund | NBA and NBF |
Effective immediately, no additional purchases can be made on the listed series, including Continuous Savings Plans (CSPs) and Pre-Authorized Contribution plans (PACs). Any existing CSPs or PACs on investors’ accounts will be cancelled.
Investors who hold Series NBA or Series NBF securities with BMO Investments have several options.
They may continue to hold them until the termination date, in which case the investments will be redeemed entirely on the termination date, and investors will be paid the proceeds if they hold their investments in a non-registered account. Investments held in a registered account will automatically be transferred into the BMO Money Market Fund.
Depending on their eligibility, investors may also switch their Series NBA or Series NBF securities for securities of another BMO mutual fund. Alternatively, they may redeem their securities entirely and receive the redemption proceeds following the normal process.
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