BMO Asset Management Inc. Monday announced that it is reducing the maximum annual management fee on certain of its exchange traded funds (ETFs).
Effective April 30, the annual management fee for seven ETFs will be reduced, as follows:
ETF |
Ticker |
Current max. annual mgmt. fee % |
New max. annual mgmt. fee % |
BMO S&P/TSX Capped Composite Index ETF |
ZCN |
0.150 |
0.050 |
BMO S&P 500 Hedged to CAD Index ETF |
ZUE |
0.150 |
0.100 |
BMO MSCI EAFE Hedged to CAD Index ETF |
ZDM |
0.350 |
0.200 |
BMO MSCI Emerging Markets Index ETF |
ZEM |
0.450 |
0.250 |
BMO Short Corporate Bond Index ETF |
ZCS |
0.300 |
0.120 |
BMO S&P 500 Index ETF |
ZSP/ZSP.U |
0.150 |
0.100 |
BMO MSCI EAFE Index ETF |
ZEA |
0.300 |
0.200 |
“These reductions demonstrate our market leadership in delivering effective, cost-efficient solutions for our clients and follow our fee cuts in September 2012 and April 2013,” says Kevin Gopaul, chief investment officer and senior vice president, BMO Asset Management Inc.