- New launch features three new tickers, including an all-in-one covered call asset allocation fund
TORONTO, June 23, 2023 /CNW/ - BMO Investments Inc., the manager of the BMO Mutual Funds, today announced the launch of an exchange traded series offered by the following BMO Mutual Funds: BMO Global Enhanced Income Fund (TSX: ZWQT), BMO U.S. Equity Growth MFR Fund (TSX: ZUGE) and BMO U.S. Equity Value MFR Fund (TSX: ZUVE).
Each of ZWQT, ZUGE and ZUVE have closed their initial offering of exchange traded units and will begin trading today on the Toronto Stock Exchange.
"We are excited to introduce three new ETF series that help investors make progress by empowering them to customize their portfolios for today's market environment," said Kevin Gopaul, President and Chief Commercial Officer, BMO Global Asset Management. "Now, advisors and investors will have an expanded toolkit to interact with market trends effectively. Our new BMO funds cater to income seeking investors as well as those seeking growth through global and US equities, bolstered by the expertise and track record of our experienced team."
- BMO Global Enhanced Income Fund (TSX: ZWQT) (series A, T6, F, F6, I Advisor Series and ETF Series units). This Fund seeks to provide income and long-term capital growth by investing primarily in a diversified portfolio of global equity exchange traded funds that are higher yielding than the broader equity market. This Fund may also invest in other mutual funds or invest directly in individual fixed income and equity securities.
- BMO U.S. Equity Growth MFR Fund (TSX: ZUGE) (series A, F, I, Advisor Series and ETF Series units). This Fund seeks to provide long-term capital growth by investing primarily in equity securities of U.S. companies that offer above average prospects for growth.
- BMO U.S. Equity Value MFR Fund (TSX: ZUVE) (series A, F, I, Advisor Series and ETF Series units). This Fund seeks to provide long-term capital growth by investing primarily in equity securities of U.S. companies priced below their intrinsic value.
More information is available at bmoetfs.com
Today's listing of ZWQT, ZUGE and ZUVE builds on BMO ETFs' comprehensive suite of strategies across mandates, asset classes and geographies, providing effective portfolio solutions for investors. Further information about ZWQT, ZUGE and ZUVE can be found at BMO Global Asset Management's ETF Centre.
Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the fund facts, ETF facts or simplified prospectus of the relevant mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Distributions are not guaranteed and are subject to change and/or elimination.
For a summary of the risks of an investment in the BMO Mutual Funds, please see the specific risks set out in the simplified prospectus. ETF Series of the BMO Mutual Funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
®/™Registered trademarks/trademark of Bank of Montreal, used under licence.
About BMO Exchange Traded Funds (ETFs)
BMO Exchange Traded Funds has been an ETF provider in Canada for more than 12 years, with over 100 strategies, over 25 per cent market share in Canada1, and $87.7 billion in assets under management. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.
1 Morningstar, December 2022
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of April 30, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.
SOURCE BMO Financial Group
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