Launch of nine new BMO Exchange Traded Funds (ETFs)* expands product line to 22, including China, India and several industry-specific funds.
TORONTO, Jan. 25 /CNW/ - BMO Financial Group today announced another significant expansion into the ETF market with the launch of nine new funds, bringing its product line to a total of 22. The expansion reiterates BMO's commitment to this growing industry and to providing investors with a full range of investment options.
"We're very excited about this expansion to our line-up, which gives investors greater access to more specific segments of the market," said Rajiv Silgardo, CEO and co-CIO of Jones Heward Investment Counsel Inc. "We now have an even broader suite of products to ensure our clients have a choice of investment tools for proper diversification, liquidity, risk control and cost effectiveness."
The new BMO ETFs compliment BMO's current line-up and include three fixed income funds, as well as country- and industry-specific funds that provide exposure to areas such as China, India, utilities, junior gold companies and global infrastructure.
"We believe there is a need for investors to have access to certain growth areas such as China and India as well as to the technology space through the BMO Nasdaq 100 Equity Hedged to CAD Index ETF. We also believe there is a need to provide this without the risk of currency fluctuations," said Silgardo. "Additionally, we see great opportunity for investors in the junior gold space given historically high gold prices, as well as in the more defensive utilities sector."
The following new BMO ETFs begin trading on the Toronto Stock Exchange today:
- BMO Mid Corporate Bond Index ETF (ZCM)
- BMO Long Corporate Bond Index ETF (ZLC)
- BMO Aggregate Bond Index ETF (ZAG)
- BMO Global Infrastructure Index ETF (ZGI)
- BMO China Equity Hedged to CAD ETF (ZCH)
- BMO India Equity Hedged to CAD ETF (ZID)
- BMO Equal Weight Utilities Index ETF (ZUT)
- BMO Nasdaq 100 Equity Hedged to CAD Index ETF (ZQQ)
- BMO Junior Gold Index ETF (ZJG)
* BMO ETFs are managed and administered by Jones Heward Investment
Counsel Inc., a wholly-owned indirect subsidiary of Bank of Montreal.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $388 billion as at October 31, 2009, and more than 36,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions.
Nasdaq(R), OMX(R), NASDAQ OMX(R), Nasdaq-100(R), and Nasdaq-100 Index(R), are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by Jones Heward Investment Counsel Inc. The BMO Nasdaq 100 Equity Hedged to CAD Index ETF has not been passed on by the Corporations as to its legality or suitability and is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO The BMO Nasdaq 100 Equity Hedged to CAD Index ETF.
SOURCE BMO BANK OF MONTREAL
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