TORONTO, Dec. 1, 2021 /CNW/ - BMO Investments Inc.,
the manager of the BMO Mutual Funds, today announced the launch of
ETF Series units for the BMO Money Market Fund.
BMO Money Market Fund – ETF Series' (Ticker:
ZMMK) objective is to provide capital preservation by
investing in a portfolio of high-quality money market instruments
issued by governments and corporations in Canada.
To support this objective, the portfolio manager selects
high-quality money market instruments that mature in less than 365
days and have an average term of 90 days or less to reset date and
180 days to maturity date.
The offering of ETF Series units of the fund has closed and it
will begin trading on the Toronto Stock Exchange today.
"We're pleased to be expanding our ETF shelf to include ETF
Series units of BMO Money Market Fund," said Mark Raes, Head of Product, BMO Global Asset
Management Canada. "ZMMK provides a solution for investors looking
for a liquidity sleeve, or a place to hold their cash as they
assess the market for other investments."
Further information about BMO ETFs and ETF Series of the BMO
Mutual Funds can be found at www.bmo.com/etfs.
®/™Registered trademarks/trademark of Bank of
Montreal, used under licence.
BMO Global Asset Management is a brand name that comprises BMO
Asset Management Inc., BMO Investments Inc. and BMO Asset
Management Corp.
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 (if applicable), management
fees and expenses all may be associated with mutual fund
investments. Please read the fund facts, ETF facts or the
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. 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 security 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.
ETF Series of the BMO Mutual Funds trade like stocks, fluctuate in
market value and may trade at a discount to their net asset value,
which may increase the risk of loss.
About BMO Exchange Traded Funds (ETFs)
BMO Exchange
Traded Funds has been a leading ETF provider in Canada for more than 11 years, with over
100 strategies, over 25 per cent market share in Canada1, and $80.6 billion in assets under management. BMO
ETFs are designed to stay ahead of market trends and provide
compelling solutions to help advisors and investors. This includes
a comprehensive suite of ETFs developed in Canada for Canadians, such as cost effective
core equity ETFs following market leading indexes, and a broad
range of fixed income ETFs; solution-based ETFs responding to
client demand; and innovation with smart beta ETFs, as well as
combining active and passive investing with ETF series of active
mutual funds.
1Morningstar, October
2021
About BMO Financial Group
Serving customers for 200
years and counting, BMO is a highly diversified financial services
provider - the 8th largest bank, by assets, in North America. With total assets of
$971 billion as of July 31, 2021, and a team of diverse and highly
engaged 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, BMO Wealth Management and BMO Capital
Markets.
SOURCE BMO Financial Group