Toronto-based BMO Asset Management Inc. (BMOAM) is lowering the annual management fee on BMO Aggregate Bond Index ETF, the company announced on Monday.
As of June 15, the annual management fee for the ETF will be reduced from 0.09% to 0.08%.
“By lowering the fee on one of our largest ETFs we are enhancing our cost-efficient core solutions, continuing our trend of fee reductions in 2012, 2013, 2014 and 2016,” says Kevin Gopaul, head of BMOAM Canada, in a statement.
“We are committed to delivering optimal core portfolio solutions for our investors,” he adds. “This fee reduction demonstrates our focus on fixed income, including 2018 launches of low cost Canadian corporate bonds, Canadian government bonds, Canadian short term bonds and active bond mandates.”