TORONTO, ONTARIO--(Marketwired - Sept. 19, 2016) - BMO Investments Inc. (the "Manager"), the
manager of the BMO Mutual Funds, today announced the receipt of the required approvals from securityholders at special meetings
held on September 16, 2016 to proceed with the previously announced mergers (collectively, the "Mergers" and
each a "Merger") of certain mutual funds (each a "Terminating Fund") listed in the table below
into the corresponding funds (each a "Continuing Fund") also listed below.
Each of the Mergers below received the approval of securityholders of the applicable Terminating Funds and BMO Global Low
Volatility ETF Class, and the Canadian securities regulatory authorities. The Mergers will be effective on or about the dates set
out below:
Terminating Fund |
|
Continuing Fund |
|
Effective Date |
BMO Canadian Low Volatility ETF Class |
|
BMO Global Low Volatility ETF Class |
|
September 23, 2016 |
BMO High Yield Bond Fund |
|
BMO U.S. High Yield Bond Fund |
|
October 14, 2016 |
BMO Enhanced Equity Income Fund |
|
BMO Dividend Fund |
|
September 23, 2016 |
BMO Canadian Diversified Monthly Income Fund |
|
BMO Diversified Income Portfolio |
|
October 14, 2016 |
As a result of the Mergers, securityholders of each series of each Terminating Fund will receive securities of the same series
of the corresponding Continuing Fund, determined on a dollar-for-dollar basis. Each Merger, except for the Merger of BMO
High Yield Bond Fund into BMO U.S. High Yield Bond Fund, will be effected on a tax-deferred basis. Each Terminating Fund
will be wound up or cancelled, as applicable, as soon as reasonably possible following its Merger.
Securityholders of a Terminating Fund will have the right to redeem securities of, or make switches out of, the Terminating
Fund up to the close of business on the business day immediately before the applicable effective date of each Merger. In the
case of the redemption of securities of a Terminating Fund that was purchased under the deferred sales charge or the low load
option, any applicable redemption fees will still be payable by the securityholder.
In addition, the merger of BMO Global Monthly Income Fund into BMO Global Diversified Fund will not proceed as previously
announced on July 8, 2016. At a special meeting of unitholders of BMO Global Monthly Income Fund held on September 16, 2016
unitholders did not approve the merger. BMO Global Monthly Income Fund will continue to be available for purchase by
investors.
For more information on BMO Mutual Funds, please visit www.bmo.com/gam/ca.
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BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of
Montreal.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use
of an asset allocation service. Please read the fund facts or prospectus of the mutual fund before investing. Mutual funds are
not guaranteed, their values change frequently and past performance may not be repeated.
About BMO Financial Group
Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America.
With total assets of $692 billion as of July 31, 2016, and over 45,000 employees, BMO provides a broad range of retail
banking, wealth management and investment banking products and services to more than 12 million customers and conducts business
through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.