- First to provide a global insurance ETF ─ BMO Global Insurance Hedged to CAD Index ETF
TORONTO, April 7, 2017 /CNW/ - BMO Asset Management Inc. (BMO AM) has added four Exchange Traded Funds (ETFs), expanding its comprehensive sector suite with the addition of key global exposures.
"Investors are continuing to recognize the benefits of using ETFs for sector strategies, and we are excited to have expanded our suite," said Kevin Gopaul, Head, BMO Global Asset Management Canada, Global Head of ETFs and Chief Investment Officer, BMO Asset Management Inc. "We have focused on key global exposures, Consumer Discretionary and Consumer Staples, where investors benefit from growing consumer purchasing power, Banks which provides access to global economic growth and Insurance where investors can benefit from a rising rate environment."
The offering of the new ETFs has closed, and they will begin trading on the Toronto Stock Exchange today:
BMO Global Banks Hedged to CAD Index ETF (Ticker: BANK): This ETF is designed to invest in securities of the Russell Developed Large Cap Banks Capped 100% Hedged to CAD Index, providing investors with exposure to global banks.
BMO Global Consumer Discretionary Hedged to CAD Index ETF (Ticker: DISC): This ETF is designed to invest in securities of the Russell Developed Large Cap Consumer Discretionary Capped 100% Hedged to CAD Index, providing investors with exposure to global consumer discretionary companies.
BMO Global Consumer Staples Hedged to CAD Index ETF (Ticker: STPL): This ETF is designed to invest in securities of the Russell Developed Large Cap Consumer Staples Capped 100% Hedged to CAD Index, providing investors with exposure to global consumer staples.
BMO Global Insurance Hedged to CAD Index ETF (Ticker: INSR): This ETF is designed to invest in securities of the Russell Developed Large Cap Insurance Capped 100% Hedged to CAD Index, providing exposure to global insurance companies.
With the addition of these four ETFs, BMO AM now offers 90 listings. Since launching its first ETFs in 2009, BMO AM has captured the most inflows in the Canadian ETF industry for six consecutive years.*
Further information about BMO ETFs can be found at www.bmo.com/etfs.
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*According to Bloomberg data
BMO ETFs are managed and administered by BMO Asset Management Inc., a portfolio manager and investment fund manager and separate legal entity from Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
The Russell BMO ETFs are not in any way sponsored, endorsed, sold or promoted by, FTSE TMX Debt Capital Markets Inc. ("FTDCM"), Frank Russell Company ("Russell") or TSX INC. ("TSX") (collectively, the "Licensor Parties"). The Licensor Parties make no claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the FTSE TMX Index(es)or the Russell Index(es), (ii) and/or the figure at which the said FTSE TMX Index(es) or Russell Index(es) stands at any particular time on any particular day or otherwise, or (iii) the suitability of the FTSE TMX Index(es) and/or the Russell Index(es) for the purpose to which it is being put in connection with the fund mentioned herein. The FTSE TMX Index(es) is/are compiled and calculated by and all copyright in the Index values and constituent list vests in FTDCM. The Russell Index(es) is/are calculated by Russell or its agent. The Licensor Parties shall not be liable (whether in negligence or otherwise) to any person for any error in the Index and the Licensor Parties shall not be under any obligation to advise any person of any error therein. "TMX" is a trade mark of TSX Inc. and is used under license. "Russell®" is a trademark of Frank Russell Company.
About BMO Exchange Traded Funds (ETFs)
Established in June 2009, BMO Financial Group's ETF business is a leading ETF provider in Canada. BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.
About BMO Financial Group
Established in 1817, and currently marking its 200th year of operations, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $692 billion as of January 31, 2017, and more than 45,000 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, Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group