TORONTO, ONTARIO -- (Marketwire) -- 01/25/13 -- BMO Asset Management Inc. (BMO AM) today announced that its ETF business(i) led the Canadian ETF industry in new assets for the second consecutive year in 2012. BMO ETFs attracted $5 billion in net new assets, up 130 per cent from the previous year. Overall, BMO accounted for 40 per cent of all Canadian ETF new asset inflows for the year.(ii)
BMO S&P/TSX Capped Composite Index ETF (ZCN) topped the industry with $813 million in inflows. ZCN is designed to replicatethe performance of the S&P/TSX Capped Composite Index, the primary indicator for Canadian equity markets.
BMO attributed its overall success to the organization's ability to anticipate and address the needs of Canadian investors, by building a line-up of core ETFs based on market leading indexes, thoughtful sector ETFs, and innovative specialty solution ETFs. The product suite has grown to 48 funds (including multiple industry firsts) in under four years.
"The Canadian ETF industry has seen immense growth in the past year, and we're thrilled to have been such a big part of its success," said Kevin Gopaul, Senior Vice President and Chief Investment Officer, BMO Asset Management Inc. "We're fortunate to have such a strong team of professionals who share a collective commitment to product innovation and also a comprehensive consideration of the use of these ETFs in portfolio construction. We'll continue to address key investor needs and we are looking forward to an equally successful 2013."
For more information on BMO ETFs, please visit www.bmo.com/etfs.
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(i)BMO ETFs are managed and administered by BMO Asset Management Inc., an investment fund manager and portfolio manager and a separate legal entity from Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.
(ii) According to Bloomberg industry data
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