TORONTO, June 23 /CNW/ - BMO Investments Inc., today launched the BMO
U.S. High Yield Bond Fund. The new fund will provide investors with an
opportunity to further diversify their portfolios with exposure to the U.S.
high yield bond market.
The BMO U.S. High Yield Bond Fund will:
- Provide a high level of total return through a combination of income
and capital appreciation by investing primarily in fixed income
securities issued by United States corporations;
- Invest primarily in securities with a credit rating below BBB;
- Seek the best potential investments for the portfolio by analyzing
the credit ratings of various issuers and using bottom up
quantitative and fundamental analysis.
"Investing in U.S. high yield bonds provides investors with enhanced
return potential and improved diversification given the bonds' historically
lower correlation to other sectors of the fixed income market" said Linda
Knight, President and Chief Operating Officer, BMO Investments Inc.
The new fund will be managed by HIM Monegy, Inc. HIM Monegy is part of
Chicago-based Harris Investment Management, Inc., and operates within the BMO
Financial Group. It is a wholly-owned, indirect subsidiary of Bank of
Montreal, the parent company of BMO Investments Inc. HIM Monegy's experienced
group of professionals is dedicated to managing high yield bonds, loans and
credit default swaps. As of December 31, 2007, assets under management for HIM
Monegy were approximately $1.4 billion (Cdn.).
The fund is available in both Series A units for retail investors and
Series I units for institutional investors.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part of
the organization's Private Client Group. The Private Client Group provides
integrated wealth management services in Canada and the United States and had
total assets under management and administration and term investments of
$286 billion as at April 30, 2008.
For further information:
For further information: Media Contacts: Deborah Rowe, Toronto,
deborah.rowe.@bmo.com, (416) 867-3996; Lucie Gosselin, Montréal,
firstname.lastname@example.org, (514) 877-1101; Laurie Grant, Vancouver,
email@example.com, (604) 665-7596; Internet: www.bmo.com