BMO Investments Inc. today announced changes to the BMO International Bond Fund and BMO Bond Fund.

Subject to unitholder approval, BMO International Bond Fund’s investment objectives will be changed to provide greater geographic diversification of the portfolio and enhanced income-earning potential. The investment objectives will be broadened to allow the fund to invest in bonds and debentures issued by governments and corporations around the world, including Canada and the United States. Currently, the fund invests only in bonds and debentures issued by governments and corporations outside North America. The fund name will also be changed to “BMO World Bond Fund”.

BMO Investments has scheduled a meeting of unitholders for July 7. If approved, the changes will be effective on or about July 22,.

Separately, BMO Bond Fund’s investment strategies have been revised, effective May 10, to allow the fund to invest up to 10% of the value of its assets in non-investment grade debt. BMO Investments says it is making this change to provide greater investment flexibility and income earning potential.

The fund invests primarily in securities rated BBB or higher by Standard & Poors Rating Service or the equivalent rating as defined by other recognized rating agencies. This change to the fund’s investment strategies does not require the approval of unitholders. The fund’s investment objectives will not be changed and the fund will remain appropriate for investors who prefer low to medium investment risk.