TORONTO, Aug. 30, 2017 /CNW/ - BMO Investments Inc. today announced changes to the BMO Ascent Portfolios (each a "Fund"), which include BMO Ascent Income Portfolio, BMO Ascent Conservative Portfolio, BMO Ascent Balanced Portfolio, BMO Ascent Growth Portfolio and BMO Ascent Equity Growth Portfolio.
Management Fee Reductions
Effective immediately, the management fee applicable to Series A securities of each Fund is reduced from 1.50% to 1.40% and the management fee applicable to Series F securities of each Fund is reduced from 0.75% to 0.65%.
Minimum Initial Investment and Minimum Balance
In addition, effective immediately, the minimum initial investment amount in a Fund is increased from $25,000 to $75,000 and the minimum balance for maintaining an investment in a Fund is increased from $20,000 to $60,000.
BMO Ascent Portfolios are offered by BMO Investments Inc., a financial services firm and separate entity from Bank of Montreal.
BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc., BMO Investments Inc., BMO Asset Management Corp. and BMO's specialized investment management firms.
®"BMO (M-bar roundel symbol)" is a registered trade-mark of Bank of Montreal, used under licence.
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 $709 billion as of July 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