Toronto-based BMO Investments Inc. announced on Wednesday that it will discontinue the standard deferred sales charge (DSC) purchase option for new purchases, including pre-authorized purchases, across its entire mutual fund lineup, effective May 4, 2018. The low-load DSC purchase option will continue to be available to investors.
BMO Investments has not offered any new mutual funds under the standard DSC purchase option since April 2016.
Investors with existing standard DSC purchase option holdings will remain invested based on the redemption fee schedule applicable to those mutual funds, and switches from existing securities acquired under the standard DSC purchase option will continue to be available.
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