BMO Harris Investment Management Inc. Wednesday proposed mergers for three BMO Harris Private Banking portfolios.

The proposed changes to BMO Harris Canadian Dividend Income Portfolio, BMO Harris Opportunity Bond Portfolio and BMO Harris Income Opportunity Bond Portfolio are part of an approach to refocus select investment strategies on the BMO Harris investment platform, the company said

BMO Harris Canadian Dividend Income Portfolio will be merged into the BMO Harris Canadian Income Equity Portfolio.

BMO Harris Opportunity Bond Portfolio be merged into the BMO Harris Canadian Total Return Bond Portfolio.

BMO Harris Income Opportunity Bond Portfolio be merged into the BMO Harris Canadian Bond Income Portfolio.

Neither regulatory approval nor investor approval is required for the merger involving BMO Harris Canadian Dividend Income Portfolio. BMO Harris will seek regulatory approval for the proposed mergers involving BMO Harris Opportunity Bond Portfolio and BMO Harris Income Opportunity Bond Portfolio. I

In the event investor approval is also required for these proposed mergers, such approval will be sought at special meetings to be held on September 24.

The independent review committee of the funds has determined that the mergers achieve a fair and reasonable result for each of the portfolios and has provided its approval in respect of each of the mergers, BMO Harris said.

The changes are expected to be effective on September 25.

IE