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BMO Investments Inc. Receives Unitholder Approval for Objective Changes to Certain Mutual Funds

Jul 16 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 07/16/13 -- BMO Investments Inc. received unitholder approval today to proceed with the investment objective changes to BMO Floating Rate Income Fund, BMO U.S. Dollar Equity Index Fund and BMO Global Science & Technology Fund announced on May 21, 2013.

The following investment objective changes have been approved:

---------------------------------------------------------------------------- BMO Floating Rate Income Fund----------------------------------------------------------------------------Current Investment Objective New Investment Objective----------------------------------------------------------------------------This fund's objective is to generate This fund's objective is to generate a a high level of interest income that high level of current income by will fluctuate in line with short- investing primarily in floating rate term interest rates with a duration loans and other floating rate debt of less than 365 days by investing securities issued by domestic and primarily in high yield bonds and foreign companies. debentures issued by Canadian governments and corporations, U.S. dollar Canadian corporate bonds, U.S. corporate bonds, U.S. and Canadian debentures, convertible debentures and income trusts.---------------------------------------------------------------------------- BMO U.S. Dollar Equity Index Fund----------------------------------------------------------------------------Current Investment Objective New Investment Objective----------------------------------------------------------------------------This fund's objective is to track the The fund's objective is to provide a performance of the Standard & Poor's return that is similar to the return 500 Total Return Index (S&P 500 of the Standard & Poor's 500 Total Index). Return Index (S&P 500 Index). The fund may invest all or a portion of itsAs part of this fund's investment assets in one or more exchange traded objective, it invests primarily in: funds, invest directly in the underlying securities represented in- U.S. treasury bills and other high the S&P 500 Index or use derivatives quality U.S. money market such as options, futures, and forward instruments contracts that are based on the S&P 500 Index.- Options, futures, and forward contracts that are based on the S&P 500 IndexIt may also invest in:- Securities that are included in the S&P 500 Index- Standard & Poor's depository receipts and other instruments that approximate the return of the S&P 500 Index---------------------------------------------------------------------------- BMO Global Science & Technology Fund----------------------------------------------------------------------------Current Investment Objective New Investment Objective----------------------------------------------------------------------------The fund's objective is to increase The fund's objective is to achieve a the value of your investment over high level of total return from the the long term by investing in value of your investment, including science and technology companies dividend income and capital gains, by around the world. investing primarily in dividend yielding common and preferred shares of companies from around the world. As part of its investment objectives, the fund invests primarily in equities of companies that trade on recognized stock exchanges in countries around the world.----------------------------------------------------------------------------



As a result of the investment objective changes:

-- BMO Asset Management Inc. (BMOAM) will replace BMO Asset Management Corp., the current portfolio manager of BMO U.S. Dollar Equity Index Fund. Also, the investment strategies of this fund will be changed to reflect the investment style of BMOAM.-- Guardian Capital LP (Guardian Capital) will replace BMO Asset Management Corp., the current portfolio manager of BMO Global Science & Technology Fund, and the name of the fund will change to BMO Global Dividend Fund. The investment strategies of this fund will also change to reflect the investment style of Guardian Capital.



Additionally, the risk rating for the newly renamed BMO Global Dividend Fund's will change from medium-to-high to low-to-medium. Because the investment objectives and strategies of this fund are new, the risk rating is only an estimate by BMO Investments Inc.

All changes are expected to be effective on or about July 19, 2013.

About BMO Investments Inc.

BMO Investments Inc. is a member of BMO Financial Group and part of the organization's Private Client Group ("PCG"). PCG, BMO's group of wealth management businesses, serves a full range of client segments from mainstream to ultra-high net worth and institutional, with a broad offering of wealth management products and solutions including insurance products. PCG operates in both Canada and the United States, as well as in Asia and Europe and had total assets under management and administration of $522 billion as at April 30, 2013.

BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.



Contacts:
Media contacts:
Amanda Robinson, Toronto
(416) 867-3996
amanda.robinson@bmo.com

Valerie Doucet, Montreal
(514) 877-8224
valerie.doucet@bmo.com

Laurie Grant, Vancouver
(604) 665-7596
laurie.grant@bmo.com





Source: Marketwire


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