TORONTO , June 11, 2018 /CNW/ - BMO Asset Management Inc. ("BMO AM") today announced it is reducing the annual management fee on BMO Aggregate Bond Index ETF (ZAG.TO).
Effective on or about June 15, 2018 , the annual management fee for the ETF will be reduced as follows:
BMO Aggregate Bond Index ETF
"We are celebrating the 8th birthday of the largest fixed income ETF in Canada by reducing the management fee to 8 basis points. We are once again able to pass on savings to our clients," said Kevin Gopaul , Head, BMO Global Asset Management Canada. "By lowering the fee on one of our largest ETFs we are enhancing our cost-efficient core solutions, continuing our trend of fee reductions in 2012, 2013, 2014 and 2016."
Mr. Gopaul added, "We are committed to delivering optimal core portfolio solutions for our investors. This fee reduction demonstrates our focus on fixed income, including 2018 launches of low cost Canadian corporate bonds, Canadian government bonds, Canadian short term bonds and active bond mandates."
Further information about BMO ETFs can be found at www.bmo.com/etfs.
BMO ETFs are managed and administered by BMO Asset Management Inc., a portfolio manager, investment fund 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 ETF Facts or prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss.
About BMO Exchange Traded Funds (ETFs)
Established in June 2009 , BMO Financial Group's ETF business is a leading ETF provider in Canada . BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America . With total assets of $744 billion as of April 30, 2018 , and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
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