BMO appoints new product manager

Toronto-based Monegy Inc. has assumed portfolio-management duties for the high-yield bonds held in BMO Canadian Diversified Monthly Income Fund. The investment strategies of this fund will be changed to reflect Monegy’s investment style. The change in management is to align portfolio mangers across the mutual funds offered by BMO Investments, a unit of Bank of Montreal (BMO). In addition, BMO has renamed two of its exchange-traded fund (ETF) portfolios: BMO Target Enhanced Yield ETF Portfolio has been renamed BMO Balanced Yield Plus ETF Portfolio, and BMO Target Yield ETF Portfolio has been renamed BMO Fixed Income Yield Plus ETF Portfolio, The name changes were made to align the funds’ names with their underlying investment themes more effectively.

(cohara@investmentexecutive.com).