BMO Investments Inc. has announced a change to the distribution policy of BMO U.S. High Yield Bond Fund and changes to the investment strategies of three of its other funds.
The distribution policy of BMO U.S. High Yield Bond Fund will change to provide monthly distributions of a fixed amount per unit to unitholders, rather than the quarterly distribution policy currently in place. The first fixed distribution per unit to unitholders will be paid in May 2010.
BMO also announced that the investment strategies of BMO U.S. Dollar Monthly Income Fund will change to allow the fund to invest in high yield bonds and debentures, mortgage-backed securities and government agency issued bonds and debentures. In addition, the fund will invest in equity securities through a bottom-up selection process.
Previously, the fund invested primarily in U.S. government and corporate money market instruments.
In addition, effective June 4, 2010, the investment strategies of BMO U.S. Special Equity Fund will change to allow the fund to invest in attractively valued, small- and mid-sized companies with prospects for above average capital appreciation, invest using a bottom-up process and seek to aggressively identify and capitalize on catalysts that the portfolio manager believes can drive stocks to achieve their intrinsic value.
BMO also announced changes to the investment strategies of BMO European Fund. The portfolio manager will employ a fundamental bottom-up investment approach that emphasizes growth and stability of earnings, and will seek to identify attractively priced, high quality companies that show superior long-term economic characteristics.
IE
BMO Investments adjusts funds’ investment strategies
BMO U.S. High Yield Bond Fund to switch to monthly distributions
- By: IE Staff
- April 25, 2010 April 25, 2010
- 14:35