BMO Investments Inc. announced that unitholders have approved the following proposed changes to BMO U.S. Dollar Bond Fund, BMO NAFTA Advantage Fund and BMO Global Bond Fund:

BMO U.S. Dollar Bond Fund

Effective May 5, BMO U.S. Dollar Bond Fund will be merged into BMO U.S. Dollar Monthly Income Fund.

“Unitholders of BMO U.S. Dollar Bond Fund will now have the potential to achieve greater portfolio diversification by investing in a larger fund with broader investment objectives and a fixed monthly distribution,” said Ed Legzdins, president and CEO, BMO Investments Inc.

BMO NAFTA Advantage Fund

Effective May 5, BMO NAFTA Advantage Fund’s investment objectives will be changed to allow the fund to invest primarily in dividend-yielding common and preferred shares of North American companies. This fund will aim to invest approximately 75% of its assets in North American equities, excluding Canada, and 25% in Canadian equities. The fund’s name will be changed to “BMO North American Dividend Fund” to reflect the changes.

“The BMO North American Dividend Fund will provide investors with the diversification, income and capital gains potential of North American equities as well as the tax efficiency of Canadian dividends,” said Legzdins.

BMO Global Bond Fund

Effective May 10, BMO Global Bond Fund’s investment objectives will be revised to allow the fund to invest primarily in debt instruments issued by governments and corporations from around the world. The investment strategies will also be revised to allow this fund to invest in debt instruments that may have credit ratings that are lower than investment grade, as determined by bond rating services such as Standard & Poors Rating Agency. The fund’s name will be changed to “BMO Global High Yield Bond Fund” to reflect the changes.

“This Fund will now provide investors with regular monthly cash flow with the potential of capital appreciation through a diversified portfolio of global high yield bonds,” said Legzdins.

In addition, PIMCO Canada Corp. will replace AGF Funds Inc. as the portfolio manager for this fund on May 10.