BMO Asset Management Inc. says it is reducing the management fee that will be charged to certain BMO Exchange Traded Funds (ETF).
Effective November 1, the maximum annual management fee for BMO S&P 500 Hedged to CAD Index ETF (TSX:ZUE) will be reduced by 31.8% to 15bps and the maximum annual management fee for BMO Aggregate Bond Index ETF (TSX:ZAG) will be reduced by 28.6% to 20bps.
“We strive to provide the most competitive offerings in the marketplace and we are pleased with the success of these two funds,” said Kevin Gopaul, chief investment officer and senior vice president, BMO Asset Management Inc. “We will continue to anticipate the needs of our investors and will keep seeking opportunities to lower costs and increase growth where possible.”