Toronto

BMO Asset Management proposes changes to certain BMO ETFs

Wed, 30/01/2013 - 16:00

BMO Asset Management has called a special meeting of unitholders to consider and approve changes to the investment objectives of certain BMO exchange-traded funds.

The changes would see the BMO International Equity Hedged to CAD Index ETF and the BMO Emerging Markets Equity Index ETF track new indexes – the MSCI EAFE 100 per cent Hedged to CAD Dollars Index and the MSCI Emerging Markets Index, respectively.

The special meeting will be held in Toronto on 28 March. Details of the proposed changes will be outlined in a joint management information circular, which will be prepared and delivered to unitholders of record as of 22 February 2013. Implementation of the changes will also be subject to acceptance by the Toronto Stock Exchange.

If the change to the investment objective of each of the BMO ETFs is approved, BMO Asset Management expects that the transition to the proposed new investment objectives will be fully implemented on or about 1 April 2013 and no later than 30 June 2013.

Provided that the approval of unitholders is obtained, BMO Asset Management will also update the investment strategies and expects to change the name of each of the BMO ETFs. It is expected that the ticker symbols for BMO International Equity Hedged to CAD Index ETF (ZDM) and BMO Emerging Markets Equity Index ETF (ZEM) will remain the same.

If the above changes are approved, BMO Asset Management also expects to lower the maximum annual management fee for BMO International Equity Hedged to CAD Index ETF to 0.350 per cent and for BMO Emerging Markets Equity Index ETF to 0.450 per cent.


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