CHICAGO, ILLINOIS -- (Marketwire) -- 01/24/13 -- BMO Global Asset Management today announced that its U.S. mutual fund family has surpassed $10 billion in assets under management (AUM). The business grew by an exceptional 19.4 percent last year through December 31, 2012, making it one of the fastest growing mutual fund families, according to Strategic Insight.
"BMO Global Asset Management has reached this significant milestone by addressing and anticipating the needs of U.S. investors and developing innovative solutions to help them achieve their financial goals," said Barry McInerney, Co-CEO, BMO Global Asset Management. "Our solid and fast-growing mutual fund platform offers global capabilities to a diverse client base that includes mass affluent and high net worth individuals as well as institutions, all of whom turn to us for our worldwide reach, regional expertise and boutique-style approach. We will continue to build our mutual fund portfolio so we can help our clients meet their investment objectives, achieve enhanced return opportunities, and effectively respond to volatile market conditions."
BMO Funds provide a wide range of equity, fixed income and money market fund options across the risk/reward spectrum. The company takes a disciplined approach to uncover investment opportunities that demonstrate value, growth catalysts, income, pay dividends, and provide cash flow.
BMO Global Asset Management's award-winning mutual fund business was the 23rd fastest growing in the U.S. during this period, with a platform comprising of 24 mutual funds:
-- Eight of BMO's 14 Morningstar-rated funds ranked four-star or five-star (as of 12/31/12).-- According to Lipper, of the BMO Funds that have at least a five-year track record, 65 percent are in the first quartile and 25 percent are in the second quartile (as of 12/31/12).-- BMO Intermediate Tax-Free Fund (Y shares) and BMO Small-Cap Growth Fund (Y shares) have been recognized by the Lipper Fund Awards for best risk- adjusted performance over five and 10 years, respectively (as of 11/30/11).-- BMO's strong cash flow into mutual fund complex is due to strong long- term performance.-- BMO Retirement Services has been identified as the top DC platform in the U.S. six years in a row in terms of service excellence (PLANSPONSOR®).-- BMO has best-in-class institutional trust and custody services with more than 1,500 institutional clients representing more than $70 billion in assets.
In 2012, BMO launched six new funds to meet the growing demand of investors seeking non-correlated asset classes in order to diversify their portfolios, manage risk or enhance returns, including:
-- BMO Short Tax-Free Fund - provides current income exempt from federal income tax consistent with the preservation of capital.-- BMO Low Volatility Equity Fund - designed to provide investors with long-term returns comparable to U.S. large cap stocks but with less volatility.-- BMO Pyrford Global Strategic Return Fund - maximizes total return by investing primarily in investment-grade sovereign debt securities and equity securities.-- BMO Pyrford International Stock Fund - seeks capital appreciation by investing its assets primarily in equity securities of companies located in a number of countries outside the U.S.-- BMO Monegy High Yield Bond Fund - maximizes total return consistent with current income by investing at least 80 per cent of its assets in a diversified portfolio of domestic and foreign high yield.-- BMO Dividend Income Fund - invests primarily in dividend paying common stocks of large-sized U.S. companies, similar in size to those within the S&P 500 Index.
