TORONTO, ONTARIO--(Marketwire - Mar 26, 2013) - BMO Investments Inc., the manager of the BMO Mutual Funds, today announced a change to the risk rating of BMO Laddered Corporate Bond Fund (the "Fund").
The Fund was launched in March 2012, with a risk rating of Low to Medium. The risk rating has changed to Low, to align better with the Fund's risk levels.
This change will be reflected in the BMO Mutual Funds updated simplified prospectus, which will be filed with Canadian securities regulators on or about March 28, 2013.
The Fund seeks to maintain a laddered portfolio in an effort to provide a relatively stable level of investment income by investing primarily in short term Canadian fixed income securities allocated across maturities of one to five years.
The Fund's investment objectives and management will not change and its investment strategies will be revised slightly, as outlined in the updated BMO Mutual Funds simplified prospectus.
"We believe that a Low risk rating for BMO Laddered Corporate Bond Fund appropriately aligns to the level of risk required for the Fund to strive to meet its investment objectives as outlined in the prospectus," said Mark Raes, Vice President and Head of Product, BMO Asset Management Inc.
For more information on BMO Mutual Funds, please visit www.bmo.com/mutualfunds.
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 individuals and institutions, 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 $479 billion as at January 31, 2013.
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.
BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal.