Toronto-based BMO Investments Inc. has announced that Aberdeen Asset Management Inc., based in Aberdeen, Scotland, will replace London-based Insight Investment Management (Global) Ltd. as portfolio manager of BMO Global Equity Class, a class of BMO Global Tax Advantage Funds Inc., effective Jan. 8. Aberdeen Asset Management is an independent investment manager, managing more than $251 billion for individual and institutional clients globally. Aberdeen Management’s global equities team, led by Stephen Docherty, is based in Edinburgh. In addition, BMO Investments has increased the maximum service fee under the sales charge option on BMO Guardian Monthly Dividend Fund Ltd. to 1% from 0.75%; the fee for its standard deferred charge option increases to 0.5% from 0.25%; and to 1% from 0.5% for the low-load deferred charge option. BMO Investments also has increased the maximum service fee under the low-load deferred charge option on BMO Guardian Canadian Diversified Monthly Income Fund to 1% from 0.5%; there will be no increase to the maximum service fee under the sales charge option or under the standard deferred charge option of this fund.

BetaPro adds to ETF lineup

Toronto-based BetaPro Management Inc. has expanded its Horizons BetaPro exchange-traded fund family with the launch of two new ETFs that will be eligible for options trading: Horizons BetaPro Natural Gas Bull Plus ETF and Horizons BetaPro Natural Gas Bear Plus ETF. The Horizons BetaPro bull and bear ETFs offer inverse and leveraged exposure to 15 stock, bond, currency and commodities indices, allowing investors to capitalize on trends on both the upside and on the downside. The new additions bring the total number of Horizons BetaPro ETFs with options eligibility up to 12, and the total number of ETFs to 38.

Standard Life offers corporate-class funds

Montreal-based Standard Life Mutual Funds Ltd. has announced that effective on or about Jan. 11, 2010, its new Standard Life corporate-class funds will be available through authorized advisors. Standard Life’s corporate-class funds, which help investors make tax-efficient investments in their non-registered portfolios, comprise a family of mutual funds in 17 share classes. Corporate-class funds are composed of classes of mutual funds that are set up under the umbrella of a corporation and allow investors to switch among classes in a tax-efficient manner. Unlike traditional mutual funds, corporate-class funds do not trigger capital gains when switching from one share class to another. The corporate-class funds will offer investors the benefits of the Standard Life traditional mutual fund lineup with an added layer of tax efficiency, says the firm. The launch of Standard Life corporate-class funds is subject to regulatory approvals.

MER changes at RBC education funds

Toronto-based RBC Asset Management Inc. is winding down RBC Target 2010 Education Fund. As of Jan. 1, the fund expects to be fully invested in RBC Canadian Money Market Fund. In addition, on or about March 19, the fund will have reached its target date and RBCAM will terminate the fund at that time. All units of RBC Target 2010 Education Fund outstanding on the termination date will be cancelled and unitholders will receive in exchange units of RBC Canadian Money Market Fund. As the asset mix of each RBC Target Education Fund becomes more conservative, the fixed management expense ratio for that fund will be reduced to reflect the more conservative asset mix. As of Jan. 1, investors in the remaining RBC Target Education funds will see a reduction in their fixed MERs. The MER on RBC Target 2010 Education Fund is reduced to 0.75% from 1%; RBC Target 2015 Education Fund’s MER is reduced to 1.55% from 1.75%; RBC Target 2020 Education Fund’s MER goes to 1.75% from 1.85%; and RBC Target 2025 Education Fund’s MER is reduced to 1.85% from 1.95%.

New managers at Franklin Templeton

Toronto-based Franklin Templeton Investments Corp. has appointed Peter Langerman and Philippe Brugere-Trelat as co-lead managers of Mutual Discovery Fund. Langerman and Brugere-Trelat replace Anne Gudefin and Charles Lahr, who resigned from the company in December to pursue other opportunities. Langerman is president, CEO and chairman of Franklin Mutual Advisers LLC and has more than 20 years of investment industry experience. He joined Heine Securities Corp. (the predecessor firm to Franklin Mutual Advisers LLC) in June 1986 and was appointed CEO of the Mutual Series funds in 1998. Brugere-Trelat manages the U.S.-based Mutual European Fund and Mutual International Fund and began his career with the Mutual Series funds in 1984. He has 25 years of industry experience.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).