Chicago-based BMO Global Asset Management (BMO GAM), a part of Toronto-based Bank of Montreal (BMO), announced on Friday the launch of two new funds, BMO Global Long/Short Equity Fund and BMO Disciplined International Equity Fund.
BMO Global Long/Short Equity Fund invests in both long and short positions and seeks to provide upside participation when markets are rising and downside protection when they fall. Depending on market conditions, the fund will have net long exposure in the range of 40% to 80%, according to BMO GAM’s announcement.
BMO Disciplined International Equity Fund is a long-only fund that invests in equity securities of companies in developed countries outside of North America. It strives to deliver excess return relative to the MSCI EAFE benchmark with about the same level of risk.
BMO GAM’s disciplined equity team will manage both funds.