BMO Asset Management cuts management fees on ETFs
BMO Asset Management is reducing the maximum annual management fee on certain of its exchange-traded funds.
The funds and new fees are:
BMO S&P/TSX Capped Composite Index ETF (ZCN) from 0.150 to 0.050
BMO S&P 500 Hedged to CAD Index ETF (ZUE) from 0.150 to 0.100
BMO MSCI EAFE Hedged to CAD Index ETF (ZDM) from 0.350 to 0.200
BMO MSCI Emerging Markets Index ETF (ZEM) from 0.450 to 0.250
BMO Short Corporate Bond Index ETF (ZCS) from 0.300 to 0.120
BMO S&P 500 Index ETF (ZSP/ZSP.U) from 0.150 to 0.100
BMO MSCI EAFE Index ETF (ZEA) from 0.300 to 0.200
"These reductions demonstrate our market leadership in delivering effective, cost-efficient solutions for our clients and follow our fee cuts in September 2012 and April 2013," says Kevin Gopaul, chief investment officer and senior vice president, BMO Asset Management. "We're committed to the ongoing review of our pricing strategy in order to benefit existing unitholders.
"We partner closely with our unitholders and work to deliver effectively-priced core ETFs that track the market-leading benchmarks as identified by clients."
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