BMO Financial Group

BMO Financial Group

September 07, 2011 06:00 ET

BMO ETFs Pass $3 Billion in Assets Under Management in Less Than Two and a Half Years

- First introduced in June 2009, BMO ETFs currently stand at $3 billion in AUM

- BMO's ETF business has doubled in 2011 alone

- 40 ETFs now in line-up, including several industry firsts in fixed income, target maturity, ETF portfolios and covered call

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2011) - BMO Financial Group today announced that its Exchange Traded Funds (ETF)* business has passed $3 billion in assets under management (AUM) less than two and a half years after the business was initially launched. BMO Financial Group's ETF business has doubled in 2011 alone.

"We are very proud of the success BMO ETFs have had in this short period of time," said Kevin Gopaul, Vice President and CIO, BMO Asset Management Inc. (BMO AM). "Since we started in June 2009 as the only bank affiliate in Canada to offer its own line-up of ETFs, we've achieved a number of market firsts and have developed a diverse and extensive product portfolio."

Key BMO ETF Business Milestones

June 2009 – BMO Financial Group launches its ETF business through BMO AM. The initial launch is comprised of four funds and includes the BMO Dow Jones Canada Titans 60 Index ETF and the BMO US Equity Index ETF.

October 2009 – BMO AM adds nine funds to its ETF business. New entrants include the BMO Short Federal Bond Index ETF, the BMO High Yield US Corporate Bond Hedged to CAD ETF and the BMO Emerging Markets Equity Index ETF.

January 2010 – BMO AM announces another significant expansion to its ETF line-up with the launch of nine new funds, bringing its product line to a total of 22 ETFs. Investors are provided access to dynamic markets and sectors through the addition of the BMO China Equity Hedged to CAD ETF, the BMO India Equity Hedged to CAD ETF and the BMO Junior Gold Index ETF.

July 2010 – BMO Investments Inc. launches a new series of four risk-differentiated mutual fund portfolios that invest primarily in ETFs. These ETF Portfolios combine the advantages of ETFs with the convenience of mutual funds. BMO ETF Portfolios include the BMO Canadian Tactical ETF Class, the BMO Global Tactical ETF Class, the BMO Security ETF Portfolio, the BMO Balanced ETF Portfolio, the BMO Growth ETF Portfolio and the BMO Aggressive Growth ETF Portfolio. During this time BMO AM also launches the BMO Junior Oil Index ETF, giving investors access to the energy sector.

September 2010 – BMO AM reaches $1B in assets under management only 15 months after entering the ETF market.

February 2011 – BMO AM announces yet another expansion to its ETF line-up with the launch of 10 new funds, bringing its total product line to 40. The new ETFs include yield-focused funds such as the BMO Monthly Income ETF, the BMO Covered Call Canadian Banks ETF, the BMO Energy Commodities Index ETF and the BMO Precious Metals Commodities Index ETF.

April 2011 – BMO ETFs reach $2B in assets under management in fewer than two years.

"We look forward to growing our market share by providing Canadian investors with broader choice and greater access to innovative investment products," added Mr. Gopaul.

*BMO ETFs are managed and administered by BMO Asset Management Inc., a portfolio manager and a separate legal entity from the Bank of Montreal.

Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.

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 $477 billion as at July 31, 2011, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

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