BMO celebrates fifth anniversary of first ETF listing on TSX
BMO Financial Group is celebrating five years since its first four exchange-traded funds (ETFs) were listed on the Toronto Stock Exchange (TSX) on 4 June 2009.
Since then, BMO's ETF business has grown rapidly and currently stands at USD14.7 billion in assets under management (AUM). In the last two years, the total assets of BMO ETFs have more than doubled.
Overall, the Canadian ETF industry currently has USD68.5 billion in AUM and has grown 14 per cent in the last year.
"It's been five years since we launched our first ETFs and we couldn't be more proud of what we've achieved in this short period of time," says Rajiv Silgardo, co-CEO, BMO Global Asset Management. "We're currently among the top ETF providers in the country. We can attribute a large part of our ongoing success to our strong and experienced team, who are committed not only to creating and managing innovative cost-effective solutions but also to educating investors on the many benefits of ETFs.
"We've built a diverse set of ETFs that resonate across investor types, inclusive of institutional, advisor, and retail clients. We have created our ETF suite to include innovative smart beta and specialty solutions and strongly competitive broad market benchmarked funds. In addition, we have launched a wide array of fixed income strategies.
"We look forward to the years ahead as we continue to meet our clients' ever-evolving needs and help them achieve their objectives of income, growth and full diversification."
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