TORONTO, Sept. 23,
2022 /CNW/ - BMO Investments Inc. (the
"Manager"), the manager of the BMO Mutual Funds, today announced
management and administration fee reductions, portfolio manager
changes and a risk rating reduction for the funds noted below.
Management and Administration Fee
Reductions
Effective November 1, 2022, the
Manager will reduce the management fees on Series A, T6, F, F6 and
Advisor Series securities of BMO Global Equity Fund, Series A, F
and Advisor Series securities of BMO Global Infrastructure Fund,
Series A and Advisor Series securities of BMO Global Energy Class,
and Series A, F and Advisor Series securities of BMO Global Equity
Class as follows:
Series of
Securities of
BMO Global Equity
Fund
|
Current Annual
Management Fee
|
New Annual
Management Fee
Effective November 1, 2022
|
Series A
|
1.60 %
|
1.55 %
|
Series T6
|
1.60 %
|
1.55 %
|
Series F
|
0.60 %
|
0.55 %
|
Series F6
|
0.60 %
|
0.55 %
|
Advisor
Series
|
1.60 %
|
1.55 %
|
Series of
Securities of
BMO Global
Infrastructure Fund
|
Current Annual
Management Fee
|
New Annual
Management Fee
Effective November 1, 2022
|
Series A
|
2.00 %
|
1.85 %
|
Series F
|
0.90 %
|
0.85 %
|
Advisor
Series
|
2.00 %
|
1.85 %
|
Series of
Securities of
BMO Global Energy
Class
|
Current Annual
Management Fee
|
New Annual
Management Fee
Effective November 1, 2022
|
Series A
|
2.00 %
|
1.80 %
|
Advisor
Series
|
2.00 %
|
1.80 %
|
Series of
Securities of
BMO Global Equity
Class
|
Current Annual
Management Fee
|
New Annual
Management Fee
Effective November 1, 2022
|
Series A
|
1.85 %
|
1.55 %
|
Series F
|
0.60 %
|
0.55 %
|
Advisor
Series
|
1.85 %
|
1.55 %
|
Effective November 1, 2022, the
Manager will also reduce the administration fee on all series of
securities (other than Series I securities, as applicable) of BMO
Global Equity Fund, BMO Global Infrastructure Fund, BMO Global
Energy Class and BMO Global Equity Class as follows:
Fund
|
Current
Annual
Administration
Fee
|
New Annual
Administration Fee
Effective November 1, 2022
|
BMO Global Equity
Fund
|
0.25 %
|
0.20 %
|
BMO Global
Infrastructure Fund
|
0.30 %
|
0.20 %
|
BMO Global Energy
Class
|
0.35 %
|
0.20 %
|
BMO Global Equity
Class
|
0.30 %
|
0.20 %
|
The Manager may, in some years and in certain cases, absorb a
portion of the management fees, administration fees or certain
specified expenses of these funds or series of these funds. The
decision to absorb these expenses is reviewed periodically and
determined at the discretion of the Manager, without notice to
securityholders.
Change of Portfolio Manager
Effective on or about October 31,
2022, BMO Asset Management Inc. will replace Columbia
Threadneedle Management Limited (formerly BMO Asset Management
Limited) as portfolio manager of BMO Global Equity Class and BMO
Global Equity Fund. A change in the investment strategies and risks
of BMO Global Equity Class and BMO Global Equity Fund will be made
as a result.
Effective on or about October 31,
2022, BMO Asset Management Inc. will replace Macquarie
Investment Management Advisers as portfolio manager of BMO Global
Infrastructure Fund. A change in the investment strategies and
risks of BMO Global Infrastructure Fund will be made as a
result.
Risk Rating Reduction
Effective immediately, the risk rating of BMO Global
Infrastructure Fund will be reduced from "medium" to "low to
medium". There will be no change to the investment objectives
of this fund associated with the new risk rating. This risk
rating reduction is based on the standardized risk classification
methodology mandated by the Canadian Securities Administrators.
For more information about BMO Mutual Funds, please visit
www.bmo.com/mutualfunds.
®/™Registered trademarks/trademark of Bank of
Montreal, used under licence.
BMO Mutual Funds are managed by BMO Investments Inc., which is
an investment fund manager and a separate legal entity from Bank of
Montreal.
Commissions, management fees and expenses (if applicable) all
may be associated with mutual fund investments. Trailing
commissions may be associated with investments in certain series of
securities of mutual funds. Please read the fund facts or the
simplified prospectus of the relevant mutual fund before
investing. Mutual funds are not guaranteed, their values
change frequently and past performance may not be repeated.
Distributions are not guaranteed and are subject to change and/or
elimination. For a summary of the risks of an investment in the BMO
Mutual Funds, please see the specific risks set out in the
simplified prospectus.
About BMO Financial
Group
Serving customers for 200 years and counting, BMO is a highly
diversified financial services provider - the 8th largest bank, by
assets, in North America. With
total assets of $1.07 trillion as of
July 31, 2022, and a team of diverse
and highly engaged employees, BMO provides a broad range of
personal and commercial banking, wealth management and investment
banking products and services to more than 12 million customers and
conducts business through three operating groups: Personal and
Commercial Banking, BMO Wealth Management and BMO Capital
Markets.
SOURCE BMO Financial Group