BMO makes ETF, mutual fund changes

BMO Investments Inc. of Toronto has announced several changes – including mergers and fee reductions – to its exchange-traded fund and mutual fund lineups. Regarding the fund mergers, BMO Canadian Low Volatility ETF Class will merge with BMO Global Low Volatility ETF Class on Sept. 23. On the same date, BMO Enhanced Equity Income Fund will merge with BMO Dividend Fund, and BMO Global Monthly Income Fund will merge with BMO Global Diversified Fund. Similarly, on Oct. 14, BMO High Yield Bond Fund will merge with BMO U.S. High Yield Bond Fund, while BMO Canadian Diversified Monthly Income Fund will merge with BMO Diversified Income Portfolio. As well, BMO Investments has reduced the management fee for three of these funds: BMO Global Low Volatility ETF, BMO Dividend Fund and BMO U.S. High Yield Bond Fund. The fee reductions range from 0.5% to 0.15%. For example, BMO Global Low Volatility ETF Class Series F units now have a management fee of 0.55%, down from 0.60%; and BMO U.S. High Yield Bond Fund Class A units now have a management fee of 1.60%, down from the original 1.75%. For full fund details on the mergers and fee reductions affecting these funds, visit www.bmo.com/gam/ca.

(fcollie@investmentexecutive.com).