Goodman & Co. Investment Counsel Ltd. announced on Friday the closing of three Bank of Montreal Dynamic PRINCIPALPLUS deposit notes, with gross proceeds of $40.038 million.

The deposit notes offer access to global markets through up to 200% exposure to a portfolio of leading funds managed by Dynamic Funds with 100% principal protection at maturity. The degree of exposure will be determined by an asset-allocation strategy designed to ensure principal protection, while taking advantage of market upswings.

The return, if any, on the deposit notes will be based on the performance of the fund portfolio. Dynamic Funds is one of the country’s most respected mutual fund companies and was the recipient of the Fund Company of the Year Award at the 2005 Canadian Investment Awards.

Three versions of the deposit notes were offered for sale: Yield Class, Series 3, which pays monthly taxable distributions, if any; R.O.C.TM Class, Series 3 which pays monthly tax efficient distributions, if any; and Total Return Class, Series 2 which is geared toward maximizing growth.

BMO issued the deposit notes on Aug. 23; they are set to mature on Feb. 13, 2015. The deposit notes are 100% eligible for registered plans and the complete terms of the offerings are set out in the information statements dated June 26.