TORONTO, Nov. 1, 2019 /CNW/ - BMO Asset Management
Inc. (the "Manager"), today announced the final net asset values
for each of BMO Global Banks Hedged to CAD Index ETF (Ticker:
BANK), BMO Global Insurance Hedged to CAD Index ETF (Ticker: INSR)
and BMO Shiller Select US Index ETF (Ticker: ZEUS) (each a "Fund"
and collectively, the "Funds").
On July 31, 2019, the Manager
pre-announced the termination of the Funds. Effective close of
business November 1, 2019, the funds
were terminated. The units of the Funds were previously de-listed,
at the request of the Manager, from the Toronto Stock Exchange
effective close of business on October 29,
2019.
Following the termination, the final unitholders of the Funds
became entitled to receive the proceeds from the liquidation of the
assets, less all liabilities and all expenses. The proceeds have
been allocated to those unitholders on a pro rata basis at
the rates (the "Final NAV") and in the currency shown in the table
below and no further action is required by unitholders. In
addition, immediately before the time of termination, unitholders
of the Funds received a final distribution ("Final
Distribution").
The Final NAV and the Final Distribution per unit of each of the
Funds are as follows:
Name of
ETF
|
Ticker
|
Final NAV per Unit
($CAD)
|
Final Distribution
per Unit ($CAD)
|
BMO Global Banks
Hedged to CAD Index ETF
|
BANK
|
$19.06196
|
$0.308812
|
BMO Global Insurance
Hedged to CAD Index ETF
|
INSR
|
$23.78489
|
$1.018996
|
BMO Shiller Select US
Index ETF
|
ZEUS
|
$22.73743
|
$0.097547
|
The Final Distribution on the units of the Funds were
automatically reinvested at a price equal to the Final NAV per unit
of each of the Funds and consolidated such that the number of units
outstanding following the Final Distribution equalled the number of
units outstanding immediately prior to the Final Distribution.
BMO ETFs are managed and administered by BMO Asset Management
Inc., a portfolio manager and investment fund manager and separate
legal entity from Bank of Montreal.
Commissions, management fees and expenses (if any) all may be
associated with investments in exchange traded funds. Please read
the ETF Facts or prospectus before investing. Exchange traded funds
are not guaranteed, their values change frequently and past
performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs,
please see the specific risks set out in the prospectus. BMO
ETFs trade like stocks, fluctuate in market value and may trade at
a discount to their net asset value, which may increase the risk of
loss. Distributions are not guaranteed and are subject to change
and/or elimination.
Shiller Barclays CAPE® US Single Stock Index is the intellectual
property of Barclays Bank PLC and has been licensed for use in
connection with ZEUS. ZEUS is not sponsored, endorsed, sold or
promoted by Barclays Bank PLC or any of its affiliates. Neither
Barclays Bank PLC nor any of its affiliates makes any
representations or warranties to holders of the ZEUS or any member
of the public regarding the advisability of investing in the
ZEUS.
Further information about BMO ETFs can be found at
www.bmo.com/etfs.
Get the latest BMO news releases via Twitter by following
@BMOmedia
About BMO Exchange Traded Funds (ETFs)
Established in
May 2009, BMO Financial Group's ETF
business is a leading ETF provider in Canada. BMO ETFs provide Canadian investors
with broader choices and greater access to an innovative portfolio
of investment products.
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
$839 billion as of July 31, 2019, 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