BMO Insurance reduces fees on most 75/75 series Guaranteed Investment Funds (GIF) and launches four new funds

• Reduced management expense ratios (MERs) for most BMO GIF 75/75 funds
• Four new funds, including the popular BMO Aggregate Bond Index ETF – the largest fixed income ETF in Canada¹ and now available on a segregated fund platform
• New low-cost fee-based option for high-net-worth clients, called Prestige Class F, also available with 75/75 series funds

TORONTO, Nov. 20, 2023 /CNW/ - BMO Insurance today announced enhancements to its guaranteed investment fund (GIF) product, including fee reductions for most GIFs in the 75/75 series, adding four new funds, and launching a new low-cost 75/75 series fee-based sales option for high-net-worth clients, called Class F Prestige.

"By adding new segregated fund choices and reducing fees on popular funds, we are creating an even more competitive solution to help advisors build and preserve wealth for their clients," said Rohit Thomas, President and CEO, BMO Insurance. "Offering our Prestige option to fee-based advisors is another example of how we are helping our clients make real financial progress, as we continue to expand our reach."

New Investment Options

The new investment options being introduced by BMO Insurance include fixed income options, notably the BMO Aggregate Bond Index ETF GIF, which gives access on a segregated fund platform to the biggest fixed income ETF investment vehicle in Canada¹. The other additions are the BMO Canadian Income & Growth GIF, the BMO Global Income & Growth GIF, and the BMO Global Innovators GIF, which focuses on innovation beyond the technology sector.

Reduced Fees

BMO Insurance is reducing MERs on 10 Class A and 13 Class A Prestige 75/75 series funds. The reduced fees are effective immediately and are for all new and existing clients.  BMO is also introducing a new ultra-low-cost option for 75/75 series investors, called Prestige Class F. This new option offers some of the most competitive fees in the industry for investors with $250,000 or more in the Class F (fee-based) option.

For more information on the enhanced funds and BMO Insurance, please visit www.bmo.com/GIF-2023.

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¹ CETFA Monthly Report, September 2023

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 July 31, 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

Media Contact: Aaron Sobeski, Toronto, [email protected],[phone]