BMO lowers fees for certain funds

BMO Asset Management Inc. is reducing management fees for two ETFs.

Effective on or about Sept. 1, the annual management fees for BMO Equal Weight Banks Index ETF and BMO Monthly Income ETF will fall to 0.25% from 0.55% and to 0.18% from 0.55%, respectively.

The bank also proposed changes to the investment objectives of BMO China Equity Index ETF and BMO India Equity Index ETF. Among other things, the proposed changes aim to add a responsible investment overlay to the ETFs, BMO said in a release Thursday.

The proposal includes changing the names to BMO MSCI China ESG Leaders Index ETF and BMO MSCI India ESG Leaders Index ETF, respectively, as well as changing the underlying indexes to the MSCI China ESG Leaders index and MSCI India ESG Leaders index.

BMO would also lower the annual management fees to 0.60% from 0.65% for both ETFs.

If approved, changes for the China fund would be effective on or about Dec. 3, and for the India fund on or about Dec. 13. Approval from unitholders will be sought at special meetings held on Nov. 5.

Staff

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