BMO Investments Inc. Announces Changes to BMO LifeStage Plus 2030 Fund

TORONTO, Aug. 10, 2020 /CNW/ - BMO Investments Inc. ("BMOII"), the manager of BMO LifeStage Plus 2030 Fund (the "Fund"), today announced that the Fund's portfolio allocation has been changed to a "protected" asset mix.

The Fund's portfolio will now consist entirely of fixed income investments (including provincial and corporate bonds) and cash equivalents until its target end date. In keeping with the Fund's investment strategies, this reallocation to a fixed income portfolio is intended to ensure the Fund is able to pay investors the Guaranteed Maturity Amount¹ at its target end date.  

As a result of this change, BMOII has reduced the management fees on Series A, Series D and Advisor Series units of the Fund as indicated in the table below effective as of the close of business on August 10, 2020:

Fund	Current  Management Fee	New Management Fee
BMO LifeStage Plus 2030 Fund	Series A: 1.65% Series D: 1.20% Advisor Series: 1.65%	Series A: 1.05% Series D: 0.85% Advisor Series: 1.05%

As previously announced on May 22, 2020, the Fund is no longer available for purchase by investors, including under any pre-authorized contribution plan.

For more information about the Fund and other BMO Mutual Funds please visit www.bmo.com/mutualfunds.

¹ In order to receive the highest daily locked-in value (the "Guaranteed Maturity Amount"), investors must remain invested in the Fund until the Fund's target end date. If an investor redeems any of his or her units of the Fund prior to the target end date, the investor will receive the price per unit based on the relevant series' net asset value next determined after BMOII receives the redemption request, which may be less than the Guaranteed Maturity Amount. Please read the Fund's annual information form for important information regarding the Guaranteed Maturity Amount.

^®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc., BMO Investments Inc., BMO Asset Management Corp., BMO Asset Management Limited and BMO's specialized investment management firms.

BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.

Commissions, management fees and expenses 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 or simplified prospectus of the relevant mutual fund before investing.  Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.  For a summary of the risks of an investment in BMO Mutual Funds, please see the specific risks set out in the simplified prospectus. 

About BMO LifeStage Plus Funds
BMO LifeStage Plus Funds are products designed to protect a customer's investment provided that the customer remains invested in a fund until its target end date. 

About BMO Financial Group 
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

Media Contact: Colleen Hamilton, Toronto, [email protected], [phone]