Toronto-based Bank of Montreal introduced the BMO Guaranteed Investment Funds (GIFs) on Monday.

The segregated funds allow investors to invest in the market while benefitting from deposit guarantees, which are effective on a future “maturity date.” The funds’ “maturity dates” are selected by clients and range from 15 to 25 years or on the death of the annuitant.

“We’ve introduced these new funds for investors who are looking to invest in the market to meet their retirement savings goals while limiting their investment risk,” said Peter McCarthy, president and CEO of BMO Insurance.

BMO GIFs guarantee up to 100% of the principal on maturity or death. As well, the client’s “maturity guarantee amount” is reset each month.

The new funds launched on Monday, including balanced exchange-traded-fund and money market investment options, are as follows:

• Canadian Balanced Growth Fund
• U.S. Balanced Growth Fund
• Canadian Income Strategy Fund
• North American Income Strategy Fund
• Money Market Fund

The funds’ death benefits bypass probate and are paid directly to a named beneficiary. In addition, the funds offer potential creditor protection.