Toronto-based BMO Asset Management Inc. (BMO AM) has announced pending changes to the underlying indices and names of five ETFs collectively known as the equal-weight BMO ETFs.
The equal-weight BMO ETFs will begin tracking new indices as of Sept. 15. To reflect the index changes, the names of these ETFs will also be updated on Sept. 15, the firm says in a statement.
Changes to the indices will match the current investment objectives and strategies of the equal-weight BMO ETFs, the firm adds. The ETFs will provide investors with the same exposure to the asset class as before. The frequency of rebalancing for the ETFs will also remains the same.
Frankfurt, Germany-based Solactive AG, which currently is the provider for eight BMO ETFs, will be the next index provider for the equal-weight BMO ETFs.
Solactive calculates indices for 350 clients in Europe, North America and Asia, BMO AM says, with approximately US$100 billion invested in products linked to its indices.
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