BMO Nesbitt Burns Announces Changes to the BMO Nesbitt Burns Group of Funds

TORONTO , Oct. 30 /CNW/ - BMO Nesbitt Burns Inc., the manager of BMO Nesbitt Burns Balanced Portfolio Fund, BMO Nesbitt Burns Growth Portfolio Fund and BMO Nesbitt Burns All Equity Portfolio Fund (collectively, the "Funds" and each, a "Fund"), is pleased to announce certain changes to the investment strategies of the Funds and a change to a Fund's name to be effective October 30, 2009 .

A summary of the revised investment strategies of each Fund is as follows:

BMO Nesbitt Burns Balanced Portfolio Fund will be fully invested at all times in securities of other mutual funds, fixed income securities and cash or cash equivalents, subject to the Fund's specific investment restrictions and policies. The Fund's underlying equity mutual funds will invest primarily in securities of Canadian and foreign companies and may also invest in preferred shares and unit trusts such as royalty income trusts, real estate investment trusts and business trusts. The Fund's underlying fixed income mutual funds will invest primarily in fixed income securities including government and corporate bonds, high yield bonds, debentures, and asset and mortgage-backed securities. The Fund may invest up to 60 per cent of its net asset value in foreign securities.

BMO Nesbitt Burns Growth Portfolio Fund will be fully invested at all times in securities of other mutual funds, fixed income securities and cash or cash equivalents, subject to the Fund's specific investment restrictions and policies. The Fund's underlying equity mutual funds will invest primarily in securities of Canadian and foreign companies and may also invest in preferred shares and unit trusts such as royalty income trusts, real estate investment trusts and business trusts. The Fund's underlying fixed income funds will invest primarily in fixed income securities including government and corporate bonds, high yield bonds, debentures, and asset and mortgage-backed securities. The Fund may invest up to 95 per cent of its net asset value in foreign securities.

BMO Nesbitt Burns All Equity Portfolio Fund will be fully invested at all times in securities of other mutual funds, fixed income securities and cash or cash equivalents, subject to the Fund's specific investment restrictions and policies. The Fund will invest primarily in underlying mutual funds which will invest in equity securities of Canadian and foreign companies, and which may invest in preferred shares and unit trusts such as royalty income trusts, real estate investment trusts and business trusts. The Fund may invest up to 100 per cent of its net asset value in foreign securities. In conjunction with these changes to the investment strategies, the Fund's name will change to BMO Nesbitt Burns Maximum Growth Portfolio Fund to better reflect the revised strategies.

Please refer to the simplified prospectus of the BMO Nesbitt Burns Group of Funds for a complete description of the investment strategies of the Funds.

About BMO Nesbitt Burns Group of Funds

BMO Nesbitt Burns Group of Funds is a diversified family of funds which includes domestic and global investment options covering various asset classes and regions. The Funds are currently offered by BMO Nesbitt Burns, one of North America's leading full-service investment firms and a member of the BMO Financial Group.

About BMO Nesbitt Burns

BMO Nesbitt Burns and its predecessor companies have been helping investors meet their financial goals since 1912.

In August 1987 , BMO Bank of Montreal acquired Nesbitt Thomson-then one of Canada's oldest and most respected investment houses. In 1994, Nesbitt Thomson and Burns Fry-also recognized as one of the largest worldwide dealers of Canadian equities and debt securities-merged. BMO Nesbitt Burns Inc. emerged as a member organization of BMO Financial Group, offering a broad range of wealth management and investment products and solutions.

Today, as one of Canada's leading full service investment firms, BMO Nesbitt Burns has an established reputation within the financial services industry. With over 75 branches and 1300 Investment Advisors (as of September 2009 ) BMO Nesbitt Burns is committed to helping clients meet their wealth management objectives in the same tradition of professionalism, integrity and innovation.

For further information: For media inquiries, please contact: Kasia Lech, Toronto, [email protected], [phone]; Ron Monet, Montreal, [email protected], [phone]; Laurie Grant, Vancouver, [email protected], [phone]; For all other client inquires, please contact Client Services: Tel: [phone], Fax: [phone]