BMO Investments Inc.
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NYSE : BMO

BMO Investments Inc.

July 16, 2013 17:41 ET

BMO Investments Inc. Receives Unitholder Approval for Objective Changes to Certain Mutual Funds

TORONTO, ONTARIO--(Marketwired - July 16, 2013) - BMO Investments Inc. received unitholder approval today to proceed with the investment objective changes to BMO Floating Rate Income Fund, BMO U.S. Dollar Equity Index Fund and BMO Global Science & Technology Fund announced on May 21, 2013.

The following investment objective changes have been approved:

BMO Floating Rate Income Fund
Current Investment Objective New Investment Objective
This fund's objective is to generate a high level of interest income that will fluctuate in line with short-term interest rates with a duration of less than 365 days by investing primarily in high yield bonds and debentures issued by Canadian governments and corporations, U.S. dollar Canadian corporate bonds, U.S. corporate bonds, U.S. and Canadian debentures, convertible debentures and income trusts. This fund's objective is to generate a high level of current income by investing primarily in floating rate loans and other floating rate debt securities issued by domestic and foreign companies.
BMO U.S. Dollar Equity Index Fund
Current Investment Objective New Investment Objective
This fund's objective is to track the performance of the Standard & Poor's 500 Total Return Index (S&P 500 Index).

As part of this fund's investment objective, it invests primarily in:

- U.S. treasury bills and other high quality U.S. money market instruments

- Options, futures, and forward contracts that are based on the S&P 500 Index

It may also invest in:

- Securities that are included in the S&P 500 Index

- Standard & Poor's depository receipts and other instruments that approximate the return of the S&P 500 Index
The fund's objective is to provide a return that is similar to the return of the Standard & Poor's 500 Total Return Index (S&P 500 Index). The fund may invest all or a portion of its assets in one or more exchange traded funds, invest directly in the underlying securities represented in the S&P 500 Index or use derivatives such as options, futures, and forward contracts that are based on the S&P 500 Index.
BMO Global Science & Technology Fund
Current Investment Objective New Investment Objective
The fund's objective is to increase the value of your investment over the long term by investing in science and technology companies around the world. The fund's objective is to achieve a high level of total return from the value of your investment, including dividend income and capital gains, by investing primarily in dividend yielding common and preferred shares of companies from around the world.

As part of its investment objectives, the fund invests primarily in equities of companies that trade on recognized stock exchanges in countries around the world.

As a result of the investment objective changes:

  • BMO Asset Management Inc. (BMOAM) will replace BMO Asset Management Corp., the current portfolio manager of BMO U.S. Dollar Equity Index Fund. Also, the investment strategies of this fund will be changed to reflect the investment style of BMOAM.

  • Guardian Capital LP (Guardian Capital) will replace BMO Asset Management Corp., the current portfolio manager of BMO Global Science & Technology Fund, and the name of the fund will change to BMO Global Dividend Fund. The investment strategies of this fund will also change to reflect the investment style of Guardian Capital.

Additionally, the risk rating for the newly renamed BMO Global Dividend Fund's will change from medium-to-high to low-to-medium. Because the investment objectives and strategies of this fund are new, the risk rating is only an estimate by BMO Investments Inc.

All changes are expected to be effective on or about July 19, 2013.

About BMO Investments Inc.

BMO Investments Inc. is a member of BMO Financial Group and part of the organization's Private Client Group ("PCG"). PCG, BMO's group of wealth management businesses, serves a full range of client segments from mainstream to ultra-high net worth and institutional, with a broad offering of wealth management products and solutions including insurance products. PCG operates in both Canada and the United States, as well as in Asia and Europe and had total assets under management and administration of $522 billion as at April 30, 2013.

BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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