BMO Investments Inc. has announced changes to its mutual fund lineup.
Effective Feb. 6, 2015, Toronto-based Monegy, Inc. will assume portfolio manager duties for high yield bonds within BMO Canadian Diversified Monthly Income Fund. The investment strategies of this fund will be changed to reflect Monegy’s investment style.
“Monegy is a leading investment management firm with a proven track record in high yield investments; this change will align portfolio managers across our mutual fund offering,” said Mark Raes, head of product, BMO Investments Inc.
In addition, effective on or about Dec. 10, the name of each of BMO Target Enhanced Yield ETF Portfolio and BMO Target Yield ETF Portfolio will be changed to BMO Balanced Yield Plus ETF Portfolio and BMO Fixed Income Yield Plus ETF Portfolio, respectively.
These name changes are being made to align the funds’ name to their underlying investment themes more effectively, BMO Investments says.