Toronto-based Bank of Montreal Investments Inc., the manager of BMO Mutual Funds, announced that it will terminate BMO Short-Term Income Class on or about Sept. 22.

As such, the fund will no longer receive additional investments, including purchases via regular investment savings plans. Investors may redeem or change their investments in the fund until the close of business on Sept. 21, the firm says in a news release.

Investments in non-registered accounts that do not have alternative instructions will be redeemed and investors will be paid the proceeds. Investments in registered accounts will be transferred into the BMO Money Market Fund on the termination date.

Investors are not expected to pay redemption fees or sales charges upon the redemption of their investment or the termination of the fund, the firm adds.