Ms. Rachael McKay of BMO reports
BMO INVESTMENTS INC. ANNOUNCES CHANGES TO INVESTMENT STRATEGIES
Bank of Montreal's BMO Investments Inc. has made changes to the investment strategies of BMO Canadian Equity ETF Fund and BMO U.S. Equity ETF Fund.
Each of BMO Canadian Equity ETF Fund and BMO U.S. Equity ETF Fund invests up to 100 per cent of its assets in securities of an underlying exchange-traded fund, namely BMO Dow Jones Canada Titans 60 Index ETF and BMO U.S. Equity Hedged to CAD Index ETF, respectively. BMO Asset Management Inc., the manager of the underlying ETFs, has announced that changes to the investment objectives of the underlying ETFs were approved at a special meeting of unitholders. As a result, effective on or about Sept. 21, 2012, the underlying ETFs will seek to replicate the performance of new indices as summarized in the attached table.
Underlying ETF Ticker New index New name
BMO Dow Jones Canada ZCN S&P/TSX Capped BMO S&P/TSX Capped
Titans 60 Index ETF Composite Index Composite Index ETF
BMO US Equity Hedged ZUE S&P 500 Hedged to BMO S&P 500 Hedged to
to CAD Index ETF Canadian Dollars Index CAD Index ETF
The changes to the investment objectives of the underlying ETFs will result in corresponding changes to the investment strategies of the ETF index funds.
The underlying ETFs are managed and administered by BMO Asset Management, a portfolio manager, investment fund manager and a separate legal entity from Bank of Montreal.