Toronto-based BMO Investments Inc. announced Friday the launch of Series G and Series D securities, in addition to updating the risk ratings for certain funds.
The Series G securities, subject to regulatory approval, are for 12 BMO mutual funds. The new funds will be available exclusively through the BMO Group Registered Retirement Savings Plan (RRSP) accounts.
"We are always looking for ways to help our small-to-medium-size business customers, including offering incentives to assist them in retaining top talent," says Trevor Philp, senior product manager at BMO Global Asset Management, in a statement.
"Group RRSPs provide a great way for businesses to offer cost-effective retirement saving solutions through convenient payroll deductions. Employees also have access to detailed financial planning and investment advice that is tailored to them," he adds.
BMO Investments also introduced Series D securities for 20 different funds, which are subject to regulatory approval. Series D funds provide cost savings for self-directed investors who buy through the discount channel.
Additionally, BMO Investments announced the following risk changes, effective as of Nov. 10.
> BMO Conservative ETF Portfolio changed from "low to medium" to "low."
> BMO Global Small Cap Fund changed from "medium to high" to "medium."
> BMO Greater China Class changed from "high" to "medium to high."
There are no changes to the investment objectives or strategies of these funds associated with their new risk ratings.
The list of affected funds is available in the firm's news release.
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