TORONTO, March 3, 2026 /CNW/ - BMO Investments Inc. ("BMOII"), the manager of the BMO Mutual Funds, today announced portfolio manager and sub-advisor changes for certain funds, changes to its product offerings and proposed fund mergers.
Portfolio Manager and Sub-Advisor Change
Effective at the close of business on or about March 5, 2026, BMO Asset Management Inc. ("BMOAM") will replace Guardian Capital LP as the sole portfolio manager of BMO Concentrated Global Balanced Fund and as the portfolio manager of BMO Concentrated Global Equity Fund, and GuardCap Asset Management Limited will cease to act as sub-advisor of both funds.
BMOAM's Global Equity Team will assume portfolio manager responsibilities of the global equity holdings of BMO Concentrated Global Equity Fund and BMO Concentrated Global Balanced Fund. The team will follow the same investment process used in the highly-rated BMO Global Equity Fund and BMO Global Income & Growth Fund, each rated 5-Stars by Morningstar. These award-winning BMO mandates were also recently recognized in the 2025 Fundata FundGrade A+® Awards.
Fundata reviewed performance data as of December 31, 2025 to determine the 2025 FundGrade A+® Awards winners.
Fund Name |
CIFSC Category1 |
FundGrade |
FundGrade |
BMO Global Equity Fund |
Global Equity |
314 |
12/31/2015 |
BMO Global Income & |
Global Neutral Balanced |
226 |
12/31/2022 |
1 |
Canadian Investment Funds Standard Committee (CIFSC) |
2 |
Number of peers in each category. |
3 |
The end date for the FundGrade calculation is December 31, 2025. |
Investment Strategies Changes
As a result of the portfolio manager and sub-advisor changes described above, the investment strategies of BMO Concentrated Global Balanced Fund and BMO Concentrated Global Equity Fund will change to reflect BMOAM's approach as portfolio manager of these funds.
Qualification of Series F (Hedged) and Advisor Series (Hedged)
Series F (Hedged) and Advisor Series (Hedged) securities of each of BMO Global Equity Fund and BMO Global Income & Growth Fund are expected to be qualified for distribution, subject to receipt of securities regulatory approval.
Management Fee Changes
The following reductions in the management fees paid by BMO Concentrated Global Equity Fund will be effective at the close of business on or about March 5, 2026.
Series of Securities of BMO
|
Current Annual |
New Annual |
Series A |
1.80 % |
1.75 % |
Series T6 |
1.80 % |
1.75 % |
Series F |
0.80 % |
0.75 % |
Series F (Hedged) |
0.80 % |
0.75 % |
Series F6 |
0.80 % |
0.75 % |
Advisor Series |
1.80 % |
1.75 % |
Advisor Series (Hedged) |
1.80 % |
1.75 % |
U.S. Dollar Purchase Option
Effective March 3, 2026, a U.S. Dollar Purchase Option for T6 Series for BMO Global Income & Growth Fund will be added.
Proposed Mergers
BMOII, the manager of BMO Concentrated Global Balanced Fund and BMO Concentrated Global Equity Fund (each, a "Terminating Fund" and together, the "Terminating Funds"), today announced that each Terminating Fund will be merged into the corresponding mutual fund indicated in the following table (each, a "Continuing Fund" and together, the "Continuing Funds").
Terminating Fund |
Continuing Fund |
BMO Concentrated Global Balanced Fund |
BMO Global Income & Growth Fund |
BMO Concentrated Global Equity Fund |
BMO Global Equity Fund |
Each of the mergers will be implemented on a tax-deferred basis, effective after the close of business on or about May 15, 2026 (the "Merger Effective Date"). Each Terminating Fund will be wound up as soon as reasonably possible following its merger.
The independent review committee of the Terminating Funds and the Continuing Funds has reviewed the potential conflict of interest matters related to each of the proposed mergers and has approved these mergers after having determined that the proposed mergers, if implemented, would achieve a fair and reasonable result for each of these funds.
A written notice will be provided to investors of each Terminating Fund at least 60 days prior to the Merger Effective Date.
Purchases of, and switches into, securities of each Terminating Fund will be suspended at the close of business on the third business day prior to the Merger Effective Date, except for purchases made pursuant to pre-established continuous savings plans which will be suspended as of the close of business on the fifth business day immediately preceding the Merger Effective Date.
Securityholders of a Terminating Fund will have the right to redeem securities of, or make switches out of, the Terminating Fund up to the close of business on the business day immediately before the Merger Effective Date.
Following the mergers, all optional plans, including continuous savings plans and systematic withdrawal plans, which were established with respect to a Terminating Fund will be continued with respect to the corresponding Continuing Fund. Investors should contact their dealer or financial advisor regarding their optional plans.
There will be no change to these BMO Mutual Funds' fundamental investment objectives or to their investment risk ratings as a result of the changes described above.
For more information about BMO Mutual Funds, please visit www.bmo.com/mutualfunds.
FundGrade Disclosure
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the "best of the best" among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from "A" to "E" receives a score from 4 to 0, respectively. A fund's average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
Performance for BMO Global Equity Fund (Series F) for the period ended December 31, 2025 is as follows: 1 year, 16.74%; 3 years, 22.22%; 5 years, 15.33%; 10 years, 11.07%; since inception, 11.38% (2015-04-17).
Performance for BMO Global Income & Growth Fund (Series F) for the period ended December 31, 2025 is as follows: 1 year, 12.87%; 3 years, 14.63%; since inception, 15.04% (2022-11-03).
Morningstar Disclosure
The Morningstar Rating™ for funds, or "star rating", is based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three-year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2026 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.
The star ratings and numbers of Global Neutral Balanced funds for the BMO Global Income & Growth Fund for each period are as of January 31, 2026, and are as follows: for Overall, 5 stars (1,637 funds), and three years 5 stars (1,461 funds). Morningstar Rating is for the Series F share class only; other classes may have different performance characteristics.
The star ratings and numbers of Global Equity funds for the BMO Global Equity Fund for each period are as of January 31, 2026, and are as follows: Overall 5 stars (1,925 funds), for three years 5 stars (1,603 funds), five years 5 stars (1,339 funds), for ten years 5 stars (731 funds). Morningstar Rating is for the Series F share class only; other classes may have different performance characteristics.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus.
This communication may contain links to other sites that BMO Global Asset Management (BMO GAM) does not own or operate. Any content from or links to a third-party website are not reviewed or endorsed by BMO GAM. Investors use any external websites or third-party content at their own risk. Accordingly, BMO GAM disclaims any responsibility for them.
Series F units are only available to investors who participate in eligible wrap programs or flat fee accounts with their registered dealers that have entered into a Series F Agreement with BMO Investments Inc.
This communication is for information purposes only. The information contained herein is not, and should not be construed as investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated, and professional advice should be obtained with respect to any circumstance.
Commissions, trailing commissions (if applicable), management fees and expenses all may be associated with mutual fund investments. Please read the fund facts or simplified prospectus of the relevant mutual fund before investing. The indicated rates of return are the historical annual compounded total returns for the period indicated including changes in unit value and reinvestment of all distributions, and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Distributions are not guaranteed and are subject to change and/or elimination. For a summary of the risks of an investment in BMO Mutual Funds, please see the specific risks set out in the simplified prospectus.
BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
"BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2026. Serving clients 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 approximately 13 million clients 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 stronger communities.
SOURCE BMO Financial Group
Media Contact: Aaron Sobeski, Toronto, [email protected], (416) 867-3996
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