TORONTO, ONTARIO--(Marketwire - March 28, 2013) - BMO Asset Management Inc. (BMO Asset Management) today announced that changes to the investment objectives of certain BMO Exchange Traded Funds (BMO ETFs) were approved at a special meeting of unitholders. Once these changes are implemented, each BMO ETF will seek to replicate the performance of a new index as follows:
|BMO International Equity Hedged to CAD Index ETF
||MSCI EAFE 100% Hedged to CAD Dollars Index
||BMO MSCI EAFE Hedged to CAD Index ETF
|BMO Emerging Markets Equity Index ETF
||MSCI Emerging Markets Index
||BMO MSCI Emerging Markets Index ETF
The MSCI EAFE 100% Hedged to CAD Dollar Index and the MSCI Emerging Markets Index are recognized as the pre-eminent benchmark of international equity performance and global emerging markets equity performance, respectively.
The changes to the investment objectives of ZDM and ZEM will be effective on or about April 1, 2013.
In connection with the change, the maximum annual management fee for BMO MSCI EAFE Hedged to CAD Index ETF will be lowered to 0.350 per cent and for BMO MSCI Emerging Markets Index ETF will be lowered to 0.450 per cent.
Further information about BMO ETFs can be found at www.bmo.com/etfs.
BMO ETFs are managed and administered by BMO Asset Management, an investment fund manager and portfolio manager and a separate legal entity from Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
The ETFs or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such ETFs or securities or any index on which such ETFs or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with BMO Asset Management and any related ETFs.
About BMO Exchange Traded Funds (ETFs)
Established in June 2009, BMO Financial Group's ETF business is a leading ETF provider in Canada. Since its inception, the lineup of BMO ETFs has grown to 55 funds and includes several industry firsts. BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at January 31, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.