TORONTO, ONTARIO--(Marketwired - April 21, 2014) - BMO Asset Management Inc. ("BMO AM") today announced that it is reducing the maximum annual management fee on certain of its exchange traded funds (collectively, "the ETFs").
Effective on or about April 30, 2014, the annual management fee for the ETFs will be reduced as follows:
|BMO S&P/TSX Capped Composite Index ETF
|BMO S&P 500 Hedged to CAD Index ETF
|BMO MSCI EAFE Hedged to CAD Index ETF
|BMO MSCI Emerging Markets Index ETF
|BMO Short Corporate Bond Index ETF
|BMO S&P 500 Index ETF
|BMO MSCI EAFE Index ETF
"These reductions demonstrate our market leadership in delivering effective, cost-efficient solutions for our clients and follow our fee cuts in September 2012 and April 2013," said Kevin Gopaul, Chief Investment Officer and Senior Vice President, BMO Asset Management Inc. "We're committed to the ongoing review of our pricing strategy in order to benefit existing unitholders."
Mr. Gopaul added, "We partner closely with our unitholders and work to deliver effectively-priced core ETFs that track the market-leading benchmarks as identified by clients."
BMO ETFs are managed and administered by BMO Asset Management, a portfolio manager, investment fund manager and a separate legal entity from Bank of Montreal. Further information about BMO ETFs can be found at www.bmo.com/etfs.
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.
Standard & Poor's®, S&P®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones®, Dow Jones Industrial Average®, and DJIA® are registered trademarks of Dow Jones Trademark Holdings LLC ("Dow Jones"); TSX is a trademark of TSX, Inc. ("TSX"); and Brookfield® is a registered trademark of Brookfield Office Properties Inc. and/or its affiliates ("Brookfield"). These trademarks have been licensed to S&P Dow Jones Indices LLC and/or its affiliates and have been sublicensed for use by BMO Asset Management in connection with the Products.
BMO Asset Management has the right to use the MSCI EAFE 100% Hedged to CAD Index, the MSCI Emerging Markets Index and the MSCI EAFE Index as a basis for the operation of BMO MSCI EAFE Hedged to CAD Index ETF, BMO MSCI Emerging Markets Index ETF and BMO MSCI EAFE Index ETF, respectively, and to use certain trademarks in connection with these Indices and these BMO 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 the BMO ETFs has grown to 58 ETFs and includes multiple industry firsts. The 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, BMO Financial Group is a highly diversified financial services provider based in North America with total assets of $593 billion and approximately 45,500 employees as at January 31, 2014. BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers.