BMO Mutual Funds News
- BMO Investments Inc. Announces Changes to its Mutual Funds Line-Up
TORONTO, June 18, 2009
- BMO Dividend Fund receives top honours at 2009 Lipper Awards
TORONTO, April 29, 2009
- BMO Mutual Funds wins top Dalbar honour for the third straight year
TORONTO, February 17, 2009
- BMO Investments Announces Changes to the BMO LifeStage Plus Family of Funds
TORONTO, January 26, 2009
- BMO Investments Inc. Announces Changes to BMO LifeStage Plus 2020 Fund
TORONTO, November 24, 2008
- BMO Investments Announces Changes to the BMO LifeStage Plus Family of Funds
TORONTO, October 10, 2008
- BMO Investments Inc. Launches BMO U.S. High Yield Bond
Fund
TORONTO, June 23, 2008
- BMO Investments Inc. Retains Existing Investment Objectives of BMO Short-Term Income Class
TORONTO, May 9, 2008
- BMO Investments Inc. Receives Shareholder Approval to Proceed with Mutual Fund Merger
TORONTO, May 5, 2008
- GGOF and BMO Mutual Funds Win Lipper Awards
TORONTO, April 3, 2008
-
BMO Investments Inc. Announces Proposed Mutual Fund Merger
TORONTO, March 26, 2008
- BMO Launches Next Phase of Lifecycle Investing With Unique Cash Flow Product
TORONTO, February 4, 2008
-
Commentary on current market events
TORONTO, January 22, 2008
-
BMO Investments Inc. to Offer Series I Securities for Certain BMO
Mutual Funds
TORONTO, January 21, 2008
-
BMO Mutual Funds crowned as winner in DALBAR’s 2007 Service Awards
TORONTO, January 16, 2008
BMO Investments Inc. Announces Changes to its Mutual Funds Line-Up
TORONTO, June 18, 2009 - BMO Investments Inc. today announced proposed changes to the BMO Income Trust Fund and BMO International Equity Fund to be effective on or about July 31, 2009.
BMO Income Trust Fund
Subject to unitholder approval, the investment objectives of BMO Income Trust Fund will change to allow the fund to invest primarily in companies that operate in, or are expected to benefit from, infrastructure-related businesses from around the world. If the change to investment objectives, along with proposed changes to the management and administration fees, of this fund are approved, the investment strategies and distribution policy for this fund will be revised to reflect the new objectives. In addition, the portfolio manager of the fund will change from Guardian Capital LP to Macquarie Capital Investment Management LLC, and the fund’s name will change to “BMO Global Infrastructure Fund” to reflect the above changes. A meeting of unitholders of this fund will be held on or about July 30, 2009.
BMO International Equity Fund
Subject to unitholder approval, BMO International Equity Fund will be merged into BMO International Value Class. BMO International Value Class is a class of special shares of BMO Global Tax Advantage Funds Inc. Units of BMO International Equity Fund will continue to be available for sale until the close of business on July 24, 2009, at which time new purchases into the fund will cease, except under a continuous savings plan or similar systemic plan established prior to July 24, 2009.If the proposed merger is approved, unitholders of the BMO International Equity Fund will receive shares of BMO International Value Class. The Independent Review Committee of each of BMO International Equity Fund and BMO International Value Class has determined that the proposed merger achieves a fair and reasonable result for each of these funds. A meeting of securityholders of both funds will be held on or about July 30, 2009.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $273 billion as at April 30, 2009.
Media Contacts:
Paul Gammal, Toronto, Paul.Gammal@bmo.com, (416) 867-3996
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Dividend Fund receives top honours at 2009 Lipper Awards
TORONTO, April 29, 2009 - At a ceremony in Toronto Tuesday evening, BMO Dividend Fund was presented with the 2009 Lipper Award for best fund over ten years in the Canadian Dividend & Equity Income.
The Lipper Fund Awards program highlights funds that have excelled in delivering consistently strong risk-adjusted performance relative to peers. Awards are presented to funds in 21 countries in Asia, Europe, and the Americas.
"BMO is honoured to receive this prestigious award," said Linda Knight, President of BMO Mutual Funds. "Our focus has always been to provide our clients with investment products that will help them achieve their long-term investment goals while providing prudent risk management."
The BMO Dividend Fund’s objective is to achieve a high level of after-tax return, including dividend income and capital gains, from growth in the value of your investment by investing primarily in dividend-yielding common shares of established Canadian companies.
"A long term, income producing, risk adverse approach to investing is a sound investment strategy," said Michael Stanley, President and CEO, Chief Investment Officer at Jones Heward Investment Counsel Inc., the manager of the Fund. "We adhere to this investment strategy for BMO Dividend Fund, and I think the results speak for themselves with this award."
BMO Mutual Funds are offered by BMO Investments Inc. which is a member of the BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $283 billion as at January 31, 2009
For more information, contact:
Martha McInnis, Toronto, martha.mcinnis@bmo.com, (416) 867-3996
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BMO Mutual Funds wins top Dalbar honour for the third straight year
TORONTO, February 17, 2009 - BMO Mutual Funds and BMO InvestorLine have been recognized for exceptional customer service during 2008 by Dalbar Inc., a premier national research firm which surveys customer service for many investment companies.
For the third year in a row, BMO Mutual Funds ranked highest amongst Mutual Funds companies in Dalbar’s Performance Evaluation of Mutual Funds Service, Annual Rankings and Trending Report, for its service to English and French speaking clients.
BMO Mutual Funds was ranked first Quartile for all 12 months. Dalbar recognized BMO Mutual Funds for being able to attract clients and commit to client retention through their exceptional service, especially during economic and market uncertainty, by using best practices and client experience management software.
BMO InvestorLine placed second in Dalbar’s Direct Brokerage Sales Effectiveness Rankings and Trending Report.
“We are honoured to be ranked as the highest in customer service for the third year in a row,” said Linda Knight, President and COO, BMO Mutual Funds. "It is a tribute to our professionals who work with our customers each and every day in helping them make money make sense. Our message to Canadians is to contribute to your RRSP so you are better positioned to meet your long term financial goals."
Dalbar Measurement:
Dalbar evaluates the level of service given to investors by looking at a number of metrics including the following:
- Expressing empathy to investor’s concerns, re-framing the current conditions with the investor’s risk profile
- Dedication to client retention, investment time horizon, confirming long term goals
- Positioning the company product line up appropriately
According to Dalbar, with continuing economic challenges affecting investor confidence, now more than ever representatives are instrumental in assisting in retaining client assets and bolstering investor confidence by providing exceptional service. By providing investors with the resources, tools, account solutions and investment service options to help them build solid investment plans, firms are also building the investor loyalty that will play a critical role to success.
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BMO Launches Next Phase of Lifecycle Investing With Unique Cash Flow Product
BMO launches LifeStage Retirement Income Portfolios that offer:
- monthly tax-efficient cash flow
- principal protection over the term
- exposure to the growth potential of equity markets
- lifecycle approach to asset allocation
BMO Investments Announces Changes to the BMO LifeStage Plus Family of Funds
TORONTO, January 26, 2009 - BMO Investments Inc. today announced the launch of two new BMO LifeStage Plus Funds. The additions of BMO LifeStage Plus 2022 Fund and BMO LifeStage Plus 2026 Fund to the LifeStage Plus family of lifecycle funds are in response to strong demand for target end date products with a Guaranteed Maturity Amount.
BMO LifeStage Plus Funds provide investors with downside protection by locking in the highest daily unit price that the fund achieves prior to its target end date. “During these times of market volatility, investors are seeking products that will protect them from any potential downturns while still offering upside market exposure. Our new additions will offer investors a wider range of options” said Linda Knight, President and Chief Operating Officer, BMO Investments Inc.
Investors can match their investment needs and time horizons with an appropriate target end date (2017, 2022, 2025, 2026 or 2030) whether their goals include saving for a child’s education or their own retirement. Investors who want to receive funds over several time periods can also stagger the maturity dates.
The new funds are also available as part of the BMO Guardian Fund family and will be known as BMO Guardian LifeStage Plus 2022 Fund Advisor Series and BMO Guardian LifeStage Plus 2026 Fund Advisor Series.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $286 billion as at April 30, 2008.
About BMO Guardian Funds
BMO Guardian Funds refers to certain mutual funds and/or series of mutual funds offered by Guardian Group of Funds Ltd. or BMO Investments Inc., both financial services firms and separate entities from Bank of Montreal.
For further information: Media Contacts:
Deborah Rowe, Toronto, deborah.rowe@bmo.com, (416) 867-4897
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Investments Inc. Announces Changes to BMO LifeStage Plus 2020 Fund
TORONTO, November 24, 2008 - BMO Investments Inc. Announces Changes to BMO LifeStage Plus 2020 Fund
In order to deliver this principal protection given recent market events, BMO LifeStage Plus 2020 Fund, including the BMO Guardian LifeStage Plus 2020 Fund Advisor Series, changed its portfolio allocation to a “protected” asset mix. The management fee for this Fund has also been reduced to 1.05%, plus expenses. The portfolio will now consist entirely of fixed income investments (including provincial and corporate bonds) and cash equivalents until its target end date.
In keeping with the Fund’s investment strategies, this reallocation to a fixed income portfolio is intended to ensure this Fund has sufficient assets at maturity to pay investors the Guaranteed Maturity Amount±. Unitholders are currently entitled to receive $10.1859 at maturity. Given the shift to a protected portfolio, BMO LifeStage Plus 2020 Fund will be closed to all new purchases.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $286 billion as at July 31, 2008.
Media Contacts:
Deborah Rowe, Toronto, deborah.rowe@bmo.com, (416) 867-4897
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Investments Announces Changes to the BMO LifeStage Plus Family of Funds
TORONTO, October 10, 2008 - BMO Investments Inc. has filed a preliminary prospectus for the new BMO LifeStage Plus 2017 Fund and intends to launch the fund in mid-November 2008*. This addition to the LifeStage Plus family of lifecycle funds is in response to strong demand for target end date products with a Guaranteed Maturity Amount±. BMO LifeStage Plus Funds provide investors with downside protection during volatile market conditions by locking in the highest daily unit price that the fund achieves prior to its target end date. With a wide range of options, investors will be able to match their investment needs and time horizons with an appropriate target end date (2017, 2020, 2025 or 2030) whether their goals include saving for a child’s education or their own retirement.
In response to significant declines in the global markets, BMO LifeStage Plus 2015 Fund changed its portfolio allocation from a “conservative” to a “protected” asset mix on October 6, 2008, with a reduced management fee of up to 1.05%, plus expenses. The portfolio will now consist entirely of fixed income investments (including provincial and corporate bonds) and cash equivalents until its target end date. In keeping with the fund’s investment strategies, this reallocation to a fixed income portfolio is intended to ensure that the fund has sufficient assets at maturity to pay investors the Guaranteed Maturity Amount. Unitholders are currently entitled to receive $10.1716 at maturity. Given the shift to a protected portfolio, BMO LifeStage Plus 2015 Fund will be closed to all new purchases effective October 10, 2008.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $286 billion as at April 30, 2008.
Media Contacts:
Deborah Rowe, Toronto, deborah.rowe@bmo.com, (416) 867-4897
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Investments Inc. Launches BMO U.S. High Yield Bond
Fund
TORONTO, June 23, 2008 - BMO Investments Inc., today launched the BMO U.S. High Yield Bond Fund. The new fund will provide investors with an opportunity to further diversify their portfolios with exposure to the U.S. high yield bond market.
The BMO U.S. High Yield Bond Fund will:
- Provide a high level of total return through a combination of income and
capital appreciation by investing primarily in fixed income securities issued
by United States corporations;
- Invest primarily in securities with a credit rating below BBB;
- Seek the best potential investments for the portfolio
by analyzing the credit ratings of various issuers and using bottom up
quantitative and fundamental analysis.
“Investing in U.S. high yield bonds provides investors with enhanced return
potential and improved diversification given the bonds’ historically lower
correlation to other sectors of the fixed income market” said Linda Knight,
President and Chief Operating Officer, BMO Investments Inc.
The new fund will be managed by HIM Monegy, Inc. HIM Monegy is part of
Chicago-based Harris Investment Management, Inc., and operates within the
BMO Financial Group. It is a wholly-owned, indirect subsidiary of Bank of
Montreal, the parent company of BMO Investments Inc. HIM Monegy's
experienced group of professionals is dedicated to managing high yield bonds,
loans and credit default swaps. As of December 31, 2007, assets under
management for HIM Monegy were approximately $1.4 billion (Cdn.).
The fund is available in both Series A units for retail investors and Series I units
for institutional investors.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the
organization’s Private Client Group. The Private Client Group provides integrated
wealth management services in Canada and the United States and had total assets under management and administration and term investments of $286 billion as at April 30, 2008.
Media Contacts:
Deborah Rowe, Toronto, deborah.rowe@bmo.com, (416) 867-3996
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Investments Inc. Retains Existing Investment Objectives of BMO Short-Term Income Class
TORONTO, May 9, 2008 - Investments Inc., the manager of BMO Short-Term Income Class, announced today that it will not proceed with changes to the investment objectives of the fund. Shareholders of BMO Short-Term Income Class previously approved changes to the investment objectives of the fund on April 26, 2007, although shareholders also gave the manager the right not to proceed with the proposed changes in its sole and absolute discretion. The proposed changes, including a name change from ‘BMO Short-Term Income Class’ to ‘BMO Capital Yield Class’, will not be implemented as BMO Investments Inc. is not in a position to proceed with the changes in a manner that is cost-effective and compliant with applicable regulatory requirements, and in the best interests of shareholders of BMO Short-Term Income Class.
The investment objectives of BMO Short-Term Income Class are to provide the opportunity to invest in a fixed-income fund for the short term, as an alternative or in addition to the equity funds included in the BMO Global Tax Advantage Funds and to provide current income while preserving capital and maintaining liquidity. As part of its current investment objectives, this fund invests primarily in high quality securities like Canadian treasury bills, other Canadian short-term fixed-income securities and highly rated commercial paper with terms to maturity of less than three years. BMO Short-Term Income Class is a class of shares of BMO Global Tax Advantage Funds Inc.
About BMO Investments Inc. BMO Investments Inc. is a member of the BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $283 billion as at January 31, 2008.
Contacts:
Paul Gammal, Toronto, paul.gammal@bmo.com, (416) 867-3996
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Investments Inc. Receives Shareholder Approval to Proceed with Mutual Fund Merger
TORONTO, May 5, 2008 - BMO Investments Inc. today announced that, at shareholders meetings held earlier today, it received approval to proceed with the merger of the BMO U.S. Equity Class Fund into the BMO Global Dividend Class Fund.
“As a result of this merger, shareholders of BMO U.S. Equity Class will now have the potential to achieve greater geographic and portfolio diversification by investing in dividend-paying equity securities of global issuers,” said Linda Knight, President and COO, BMO Investments Inc. “Investors are increasingly looking outside of North America for opportunities to participate in the stability and growth potential of large-cap blue chip firms,” said Knight. The investment objective of BMO Global Dividend Class is to achieve a high level of total return, including dividend income and capital gains, by investing in dividend-yielding common and preferred shares from around the world.
The merger will be effective on or about May 9, 2008.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the organization’s Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration and term investments of $283 billion as at January 31, 2008.
Contacts:
Paul Gammal, Toronto, paul.gammal@bmo.com, (416) 867-3996
Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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GGOF and BMO Mutual Funds Win Lipper Awards
TORONTO, April 3, 2008 – At a
ceremony in Toronto Wednesday evening, BMO Resource Fund was presented with the
2008 Lipper Award for best fund over three years in the Natural Resource Equity
category. BMO Dividend Fund and GGOF Global Technology Fund also received
top honours with Lipper Awards in the Canadian Dividend & Income Equity
category (ten years) and Science & Technology Equity categories (five
years), respectively.
The Lipper Fund Awards program highlights funds
that have excelled in delivering consistently strong risk-adjusted performance
relative to peers. Awards are presented to funds in 21 countries in Asia,
Europe, and the Americas.
"BMO is honoured to receive these prestigious
awards," said Scott Steele, Chief Investment Officer of BMO Mutual Funds.
"Our focus has always been to provide our clients with investment products that
will help them achieve their long-term investment goals while providing prudent
risk management, and these awards are a testament to that focus."
The BMO
Resource Fund provides investors with long-term growth through investments in
the natural resource industry, primarily through the securities of Canadian
exchange-listed companies that operate in the precious metals, base metals, oil
and gas, or forest products industries.
The BMO
Dividend Fund's objective
is to achieve a high level of after-tax return, including dividend income and
capital gains, from growth in the value of your investment by investing
primarily in dividend-yielding common shares of established Canadian
companies.
The GGOF Global Technology Fund provides investors with
long-term capital gain by investing in leading technology companies around the
world. It provides diversified exposure to the technology sector, investing in
50 to 60 companies that hold dominant positions within their
industry.
"We select investment managers from around the globe that excel
in their respective areas, with the goal of bringing top investment talent to
Canadian investors," said Gavin Graham, Chief Investment Officer of GGOF.
"This is particularly true in a specialized area such as technology and on a
global scale, and we are proud to receive the recognition of the Lipper Award as
a validation of our efforts."
BMO Mutual Funds are offered by BMO
Investments Inc. which is a member of the BMO Financial Group and part of the
organization's Private Client Group. The Private Client Group provides
integrated wealth management services in Canada and the United States and had
total assets under management and administration and term investments of $283
billion as at January 31, 2008.
GGOF is a member of BMO and part of the Private Client Group. GGOF provides investors with a full product line of 35 mutual funds, diversified by asset class, geographic region and capitalization. GGOF, with $5.52 billion of mutual fund assets under management at February 29, 2008, offers its funds exclusively through financial intermediaries.
For more information, contact:
Scott Steele, BMO Mutual Funds, 416-643-4299
Gavin Graham, GGOF, 416-350-3151
Paul Gammal, BMO Financial Group, (416) 867-3996
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BMO Investments
Inc. Announces Proposed Mutual Fund Merger
TORONTO, March 26, 2008 –
BMO Investments Inc. today announced a proposed mutual fund merger of BMO U.S.
Equity Class with BMO Global Dividend Class to be effective on or about May 9,
2008.
As a result of this merger, shareholders of BMO U.S.
Equity Class will have the potential to achieve greater portfolio
diversification by investing in a larger fund with broader investment
objectives. The investment objective of BMO Global Dividend Class is to
achieve a high level of total return, including dividend income and capital
gains, by investing primarily in dividend-yielding common and preferred shares
of corporations from around the world.
The proposed fund merger is subject to shareholder and
regulatory approval. Meetings of shareholders of each of BMO U.S. Equity
Class and BMO Global Dividend Class will be held on or about May 5, 2008.
About BMO Investments Inc. BMO Investments Inc. is a member of the BMO
Financial Group and part of the organization’s Private Client Group. The
Private Client Group provides integrated wealth management services in Canada and the United States and had total
assets under management and administration and term investments of $283 billion
as at January 31, 2008.
Contacts: Paul Gammal, Toronto, paul.gammal@bmo.com, (416)
867-3996 Lucie Gosselin, Montreal, lucie.gosselin@bmo.com, (514)
877-1101 Laurie Grant, Vancouver, laurie.grant@bmo.com, (604)
665-7596
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BMO Launches Next Phase of Lifecycle Investing With Unique Cash Flow Product
TORONTO, February 4, 2008 - With one in two Canadian boomers expected to live into their nineties, the average Canadian should be planning to fund a retirement that could last 20 – 30 years. This means most retiring boomers will still need to grow their assets while seeking tax-efficient income solutions in order to fund ongoing spending needs during their retirement years.
To better meet the often competing needs of cash flow, investment growth and capital preservation, BMO Financial Group today announced the launch of BMO LifeStage Retirement Income Portfolios.
"As boomers approach retirement, they are often worried about the impact of market volatility on their investments – they don’t want to lose what they have worked so hard to save. They also want a predictable cash flow in retirement, but they are concerned that taxes and inflation may quickly erode their retirement savings," said Mark Stewart, Senior Manager, Product Development and Management, BMO Mutual Funds.
"When it comes to funding their retirement, boomers and retirees ultimately need the following things: capital preservation, growth potential for their investments, inflation protection, tax minimization and dependable cash flow. Unfortunately, there aren’t many options available to achieve all of these goals - that’s why BMO LifeStage Retirement Income Portfolios can play a vital role in your investment portfolio," said Stewart.
Key features of BMO LifeStage Retirement Income Portfolios:
- Principal protection through guaranteed capital distributions during the term and the payment of any residual balance at maturity
- Stable and predictable monthly cash flow indexed to inflation - investors receive monthly capital distributions that are adjusted annually for inflation to preserve their purchasing power.
- Tax efficient capital distributions; no tax on income or capital gains from underlying mutual funds; no tax on rebalancing of the portfolio and no tax on inflation adjustments
- Exposure to the growth potential of a diversified portfolio of leading BMO Mutual Funds
- Lifecycle approach to asset allocation - asset mix systematically becomes more conservative as the maturity date approaches to reduce market risk
There has been significant demand for guaranteed product offerings like Principal Protected Notes, Segregated Funds and Guaranteed Lifecycle Funds. However, not many guaranteed products offer cash flow options for investors. "Our new offering represents the next phase of lifecycle investing - which began with our popular BMO LifeStage Plus Funds - by providing a cash flow solution for investors preparing for or entering their retirement years," said Stewart.
How BMO LifeStage Retirement Income Portfolios Work
BMO LifeStage Retirement Income Portfolios are notes providing exposure to the growth potential of the following professionally-managed mutual funds: BMO Dividend Fund, BMO U.S. Equity Fund, BMO International Equity Fund, BMO Bond Fund and BMO T-Bill Fund.
Additional features include:
- Minimum capital distributions of 6.0 per cent per year (payable monthly)
- Guaranteed capital distributions until the principal amount is repaid
- Annual inflation adjustment
- No tax payable until disposition or maturity
- Maximum annual fee of up to 2.25 per cent
- $5,000 minimum investment
There are three different versions of BMO LifeStage Retirement Income Portfolios:
Current Pay (15 year term)
Tax-efficient cash flow begins in year one with annual capital distributions of 6 per cent, indexed to inflation, and guaranteed until principal is repaid.
Deferred 5 Year (20 year term)
Tax-efficient cash flow begins in year six with annual capital distributions of 6 per cent, indexed to inflation, and guaranteed until principal is repaid. The annual inflation adjustment occurs during both the initial 5-year growth phase and subsequent 15-year distribution phase.
Deferred 10 Year (25 year term)
Tax-efficient cash flow begins in year eleven with annual capital distributions of 6 per cent, indexed to inflation, and guaranteed until principal is repaid. The annual inflation adjustment occurs during both the initial 10-year growth phase and subsequent 15-year distribution phase.
BMO LifeStage Retirement Income Portfolios are only available at BMO Bank of Montreal branches.
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Commentary on
current market events
TORONTO, January 22, 2008 –
What began as relatively isolated concerns about the impact of the U.S. housing
market, has in the past several weeks escalated substantially into forecasts of
a U.S. recession and has been felt in equity markets around the world. Several
of these equity markets have already fallen into what would be considered bear
market territory (defined as a decline of 20% or more from their recent highs)
and a number of others are close.
As we know, the equity market tends to be forward looking,
that is, it attempts to discount what is going to occur in the future. If this
is the case, then the declines of the past several weeks don’t bode well for the
direction of the economy. And some recent economic statistics appear to bear
this out. Housing starts, consumer confidence, and a key business indicator have
all recently been closer to levels seen around previous recessions.
However, all the economic news is
not of the bad variety. U.S. employment figures remain strong, inventories
relative to sales are at very low levels, and the decline in the U.S. dollar has
led to an acceleration of exports. This positive data would point more towards a
slowdown or a mild recession at worst.
At least part of the most recent sell-off can also be
attributed to market sentiment, which is very negative. However, it is important
to remember that market sentiment has very little predictive value for market
levels one or two years down the road. In fact, by the time market sentiment
turns positive, equity markets will have already rebounded.
As always, while volatility is a
natural corrective function of capital markets, developing a well diversified
portfolio with the help of an investment professional is a prudent strategy that
can help weather that volatility and achieve long-term investment objectives.
This commentary is provided
for informational purposes only. Investments and investment strategies should be
evaluated relative to each individual’s investment objectives. The information
contained herein is not, and should not be construed as, investment advice to
any party. Professional advice should be obtained with respect to any
circumstance.
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BMO Investments Inc. to Offer Series I Securities for Certain BMO
Mutual Funds
TORONTO, January 21, 2008 - BMO Investments Inc., the manager of BMO Mutual
Funds, today announced that, subject to regulatory approval, certain BMO Mutual
Funds will offer, for distribution, Series I units or Series I shares, as applicable, in
addition to the series the funds currently offer.
Series I securities will be available only to institutional investors. BMO Investments Inc.
expects these funds will be qualified for distributing Series I securities on or about
January 28, 2008.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of the
organization's Private Client Group. The Private Client Group provides integrated
wealth management services in Canada and the United States and had total assets
under management and administration and term investments of $275 billion as at
October 31, 2007.
Contacts:
JoAnne Hayes, Toronto, joanne.hayes@bmo.com, (416) 867-3996
Ronald Monet, Montréal, ronald.monet@bmo.com, (514) 877-1873
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596
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BMO Mutual
Funds crowned as winner in DALBAR’s 2007 Service Awards
TORONTO, January 16, 2008 –
BMO Mutual Funds has won DALBAR’s 2007 Mutual Funds Service Award for providing
the best overall service to their investors for the second consecutive year in
both English and French.
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