To serve the needs of investors better, BMO Investments (BMOII) has announced additions to the BMO Mutual Funds lineup.
Effective 18 September 2013, investors of BMO US Dollar Dividend Fund (Advisor Series, Series F and Series I), BMO US Dollar Balanced Fund (Advisor Series, Series F and Series I) and BMO US Dollar Monthly Income Fund (Advisor Series and Series F) will have the option to purchase units of these funds in Canadian dollars in addition to the currently offered US dollar purchase option. This additional purchase option provides investors with more opportunities to access the US portfolios.
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Effective 4 November 2013, each of the BMO ETF Portfolio trusts and BMO SelectTrust Portfolios will offer Series T6 securities. The new Series T6 option for these funds are designed to provide tax efficiencies through the deferral of taxes and also offer a predictable cash flow stream with the distribution rate set at the beginning of each year.
These series will make monthly distributions based on six per cent annually of the net asset value per security of the series; this amount would include return of capital. Series T6 also widens the range of cash-flow investments available through BMO Mutual Funds.
In addition, the risk rating for BMO Floating Rate Income Fund will change from "medium" to "low-to-medium", effective immediately. The risk rating is being changed to align better with the fund’s risk level given the recent changes to the fund’s investment objectives and the investment style of the portfolio manager, Monegy.
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