TORONTO, April 28, 2025 /CNW/ - BMO Investments Inc., the manager of BMO LifeStage Plus 2025 Fund and BMO Target Education 2025 Portfolio (each a "Terminating Fund"), today announced that, as these funds are approaching their June 30, 2025 target end date, each Terminating Fund will be merged into the corresponding mutual fund indicated in the following table (each a "Continuing Fund"):
Terminating Fund |
Continuing Fund |
BMO LifeStage Plus 2025 Fund |
BMO Money Market Fund |
BMO Target Education 2025 Portfolio |
BMO Target Education Income Portfolio |
Each of the mergers will be implemented on a tax-deferred basis, effective after the close of business on or about July 11, 2025. 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.
Unitholders of BMO LifeStage Plus 2025 Fund as of June 30, 2025 will, as a result of the merger, receive units, on a dollar-for-dollar basis, of Series A, Series F or Advisor Series of BMO Money Market Fund.
BMO LifeStage Plus 2025 Fund is designed to pay investors an amount equal to the highest daily locked-in value (the "Guaranteed Maturity Amount") on its target end date. In order to receive the Guaranteed Maturity Amount, investors must remain invested in BMO LifeStage Plus 2025 Fund until its target end date. If an investor redeems any units of the fund prior to the target end date, the investor will receive proceeds of redemption at a price per unit based on the relevant series' net asset value next determined after BMO Investments Inc. receives the redemption request, which may be less than the Guaranteed Maturity Amount. Please read the fund's most recently filed simplified prospectus for important information regarding the Guaranteed Maturity Amount.
Unitholders of BMO Target Education 2025 Portfolio as of June 30, 2025 will, as a result of the merger, receive units, on a dollar-for-dollar basis, of Series A or Series F of BMO Target Education Income Portfolio.
BMO LifeStage Plus 2025 Fund has been closed to all new purchases since March 2, 2020. Purchases of, and switches into, units of BMO Target Education 2025 Portfolio, including under any pre-authorized contribution plan, will be suspended at the close of business on May 9, 2025.
About BMO LifeStage Plus Funds
BMO LifeStage Plus Funds are products designed to protect an investor's investment provided the investor remains invested in a BMO LifeStage Plus Fund until its target end date.
About BMO Target Education Portfolios
BMO Target Education Portfolios are products designed to meet the needs of investors who are saving money for the purpose of funding a post-secondary education.
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, 2025. Serving customers for 207 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 13 million customers 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 inclusive society.
BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc. and BMO Investments Inc.
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, trailing commissions, 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. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. In the case of BMO Money Market Fund, note that mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that BMO Money Market Fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment in this fund will be returned to you. 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 (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence.
SOURCE BMO Financial Group
Media Contact: Aaron Sobeski, Toronto, [email protected], (416) 867-3996
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