BMO Investments Inc. plans to change the distribution policy of four funds, the company announced earlier this week.

The change affects BMO Guardian Monthly Dividend Fund Ltd., BMO Guardian High Yield Bond Fund, BMO Guardian Canadian Diversified Monthly Income Fund and BMO Guardian Income Solution.

“The distribution policy for each of these funds will change from a specified fixed dollar amount per month to a fixed amount per month that will be set at the beginning of each calendar year based on the market outlook.” BMO said in a release.

The monthly distribution rate for each fund is expected to remain unchanged for the balance of 2010, BMO said.