TORONTO, July 17, 2017 /CNW/ - BMO Investments Inc. (BMOII), the manager of BMO Mutual Funds, today announced its intention to terminate BMO Short-Term Income Class (the "Fund") on or about September 22, 2017.
Effective today, the Fund will no longer accept additional investments – including purchases through regular investment savings plans.
Affected investors are encouraged to contact their investment professional to discuss this fund termination and their investment options. Investors may redeem or switch their investments in the Fund until the close of business on September 21, 2017.
If alternative investment instructions are not received by September 21, 2017, investments in the terminating fund:
- In non-registered accounts – will be redeemed and investors will be paid the proceeds of these investments
- In registered accounts – on the termination date, will be transferred automatically into the BMO Money Market Fund
Investors will not be required to pay any redemption fees or sales charges upon redemption of their investment or the termination of the Fund.
BMOII will send a notice to each investor in the Fund regarding the termination.
For more information on BMO Mutual Funds, please visit www.bmo.com/mutualfunds.
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BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts or prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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 $719 billion as of April 30, 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