BMO makes changes to 2 ETF strategies

BMO Investments has made changes to the investment strategies of both the BMO Canadian Equity ETF Fund and BMO U.S. Equity ETF Fund.

Both funds invest up to 100% of their assets in securities of an underlying exchange-traded fund, namely the BMO Dow Jones Canada Titans 60 Index ETF (ZCN) and BMO U.S. Equity Hedged to CAD Index ETF (ZUE).

As a result of the alterations—effective on September 21, 2012—these underlying ETFs will seek to replicate the performance of new indices as follows:

• ZCN will now track the S&P/TSX Capped Composite Index and be changed to the BMO S&P/TSX Capped Composite Index ETF.

• ZUE will now track the S&P 500 Hedged to Canadian Dollars Index and be changed to the BMO S&P 500 Hedged to CAD Index ETF.

The underlying funds are managed and administered by: BMO Asset Management, a portfolio manager, an investment fund manager, and a separate legal entity from BMO.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.