BMO Announces Changes to its Mutual Fund Product Line-Up

TORONTO, May 28, 2024 /CNW/ - BMO Global Asset Management ("BMO GAM") today announced the following changes to its product offering:

Fund Launches

BMO GAM is launching the following funds:

Fund	Series offered
BMO Inflation Opportunities Fund	Series A, F, I and Advisor Series
BMO Strategic Fixed Income Yield Fund	Series A, F, I and Advisor Series

Series Terminations

BMO GAM intends to terminate the following series of BMO Mutual Funds (collectively, the "Terminating Series") on or about August 16, 2024 (the "Termination Date"):

Fund	Series
BMO Enterprise Fund	T5
BMO European Fund	F6 and T6
BMO Global Small Cap Fund	Classic Series
BMO Risk Reduction Equity Fund	Advisor Series
BMO Risk Reduction Fixed Income Fund	Advisor Series and F
BMO SelectTrust® Balanced Portfolio	Classic F
BMO SelectTrust® Conservative Portfolio	C and T8
BMO SelectTrust® Income Portfolio	C, Classic F, T5 and T8
BMO Sustainable Global Balanced Fund	F6 and T6
BMO U.S. Dollar Money Market Fund	Classic Series
BMO World Bond Fund	Classic Series

Effective May 24, 2024, the Terminating Series were closed to new investments.

No redemption fees are payable upon the redemption or termination of Terminating Series units.

Series Consolidations

BMO GAM intends to consolidate the following fund series (collectively, the "Consolidating Series") on or about the Termination Date:

Fund	Consolidating Series	Continuing Series
BMO Asset Allocation Fund	T5	T6
BMO Concentrated Global Balanced Fund	T5	T6
BMO Conservative ETF Portfolio	F4	F6
BMO Diversified Income Portfolio	T5	T6
BMO Diversified Income Portfolio	T8	T6
BMO Dividend Fund	F4	F6
BMO Dividend Fund	T5	T6
BMO Equity Growth ETF Portfolio	F2	F6
BMO Equity Growth ETF Portfolio	F4	F6
BMO Fixed Income ETF Portfolio	F6	F2
BMO Growth ETF Portfolio	F4	F6
BMO Growth & Income Fund	T5	T8

Effective May 24, 2024, the Consolidating Series were closed to new investments.

On the Termination Date, units of each Terminating Series in the preceding table will be switched to units of the corresponding Continuing Series.

Fund Terminations

BMO GAM intends to terminate the following funds (the "Terminating Funds") on or about the Termination Date:

BMO Preferred Share Fund
BMO Sustainable Opportunities China Equity Fund

Effective May 24, 2024, the Terminating Funds were closed to new investments.

No redemption fees are payable upon the redemption or termination of Terminating Fund units.

Distribution Frequency Changes

Effective June 2024 the distribution frequency of the following series will change:

Fund	Series	Current Frequency	New Frequency
BMO Global Equity Fund	A, F, I, and Advisor Series	Monthly	Annual
BMO Global Equity Fund	Active ETF Series (BGEQ)	Quarterly	Annual
BMO Global Health Care Fund	Active ETF Series (BGHC)	Quarterly	Annual
BMO Global Infrastructure Fund	Active ETF Series (ZGI)	Quarterly	Monthly

Risk Rating Changes

Effective May 24, 2024, the risk rating of each of the following funds changed:

Fund	Previous Risk Rating	Current Risk Rating
BMO Brookfield Global Real Estate Tech Fund*	Medium	Medium to High
BMO Covered Call Utilities ETF Fund	Low to Medium	Medium
BMO Global Infrastructure Fund	Low to Medium	Medium
BMO Low Volatility U.S. Equity ETF Fund	Low to Medium	Medium
BMO Sustainable Income Portfolio	Low	Low to Medium
BMO Sustainable Opportunities China Equity Fund	Medium to High	High
BMO US Small Cap Fund	Medium	Medium to High
BMO USD Income ETF Portfolio	Low	Low to Medium

* Hedged Series only.

These risk rating changes are not a result of any change to the investment objectives, strategies, or management of any of the funds. They are based on the standardized risk classification methodology mandated by the Canadian Securities Administrators.

For more information about the funds, please visit www.bmo.com/mutualfunds.

"BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

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 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 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.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of January 31, 2024. 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 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.

BMO Global Asset Management comprises BMO Investments Inc. and BMO Asset Management Inc., each of which is a separate legal entity from Bank of Montreal.

SOURCE BMO Financial Group

Media Contact: Jeff Roman, Toronto, [email protected], [phone]