BMO Nesbitt Burns Inc. Friday announced changes to the investment strategies of three funds, effective October 30.

The investment strategy of BMO Nesbitt Burns Balanced Portfolio Fund is revised to “be fully invested at all times in securities of other mutual funds, fixed income securities and cash or cash equivalents, subject to the fund’s specific investment restrictions and policies. The fund’s underlying equity mutual funds will invest primarily in securities of Canadian and foreign companies and may also invest in preferred shares and unit trusts such as royalty income trusts, real estate investment trusts and business trusts. The fund’s underlying fixed income mutual funds will invest primarily in fixed income securities including government and corporate bonds, high yield bonds, debentures, and asset and mortgage-backed securities. The fund may invest up to 60% of its net asset value in foreign securities.”

The investment strategy for BMO Nesbitt Burns Growth Portfolio Fund is revised to “be fully invested at all times in securities of other mutual funds, fixed income securities and cash or cash equivalents, subject to the fund’s specific investment restrictions and policies. The fund’s underlying equity mutual funds will invest primarily in securities of Canadian and foreign companies and may also invest in preferred shares and unit trusts such as royalty income trusts, real estate investment trusts and business trusts. The fund’s underlying fixed income funds will invest primarily in fixed income securities including government and corporate bonds, high yield bonds, debentures, and asset and mortgage-backed securities. The fund may invest up to 95% of its net asset value in foreign securities.”

The investment strategy of BMO Nesbitt Burns All Equity Portfolio Fund is revised to “be fully invested at all times in securities of other mutual funds, fixed income securities and cash or cash equivalents, subject to the fund’s specific investment restrictions and policies. The fund will invest primarily in underlying mutual funds which will invest in equity securities of Canadian and foreign companies, and which may invest in preferred shares and unit trusts such as royalty income trusts, real estate investment trusts and business trusts. The fund may invest up to 100% of its net asset value in foreign securities.”

In addition, the fund’s name will change to BMO Nesbitt Burns Maximum Growth Portfolio Fund to better reflect the revised strategies.