BMO Investments Inc., a part of BMO Financial Group, has revealed a change of portfolio management for BMO World Bond Fund.
BMO Asset Management Inc. (BMOAM) will replace the current portfolio manager, Insight Investment Management (Global), and will assume all portfolio management duties in relation to BMO World Bond Fund.
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The company has also said that the investment strategies of BMO World Bond Fund will be changed to reflect the investment style of BMOAM and that the change will be effective on or about April 26, 2013.
Robert Bechard, senior vice-president and head of portfolio management, BMO Asset Management Inc., said: "This change will leverage the strengths we have built within BMO Asset Management over the past several years, through which we have broadened both the scope and depth of our global investment management capabilities."
As at January 31, 2013, BMO Investments Inc. had total assets under management and administration of $479bn.
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