TORONTO, Nov. 18, 2019 /CNW/ - BMO Investments Inc.
("BMOII"), the manager of the BMO Global Diversified Fund (the
"Fund"), today announced a new series launch, management fee
reductions to certain series of the Fund and a portfolio manager
change for the Fund. In addition, the Fund's name changed to
BMO Concentrated Global Balanced Fund and its investment strategies
changed.
New Cash Flow Option Series
BMOII has expanded its cash flow solutions with Series F6
securities being added to the Fund subject to receipt of securities
regulatory approval.
Management Fee Reductions
Effective immediately, BMOII has reduced the management fees on
Series A, Series T5, Series T6 and Advisor Series securities of the
Fund from 2.00% to 1.60%.
Effective immediately, BMOII has also reduced the management fee
on Series D securities of the Fund from 1.25% to 0.85%.
Change of Portfolio Manager
Effective November 15, 2019,
Matthews International Capital Management, LLC ("Matthews") ceased
to act as a portfolio manager of the Fund and Guardian Capital LP
took over portfolio management responsibility for the portion of
the Fund's portfolio previously managed by Matthews. BMO Asset
Management Inc. remains as a portfolio manager for the Fund.
In addition, the Fund's name changed to BMO Concentrated Global
Balanced Fund and its investment strategies changed.
For more information about the Fund and other BMO Mutual Funds
please visit www.bmo.com/mutualfunds.
®/™Registered trade-marks/trade-mark of Bank of
Montreal, used under licence.
BMO Global Asset Management is a brand name that comprises BMO
Asset Management Inc., BMO Investments Inc., BMO Asset Management
Corp., BMO Asset Management Limited and BMO's specialized
investment management firms.
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 all may be associated
with investments in mutual funds. Trailing commissions may be
associated with investments in certain series of securities of
mutual funds. Please read the fund facts or 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. For a summary of the
risks of an investment in 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 $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