Toronto-based BMO Investments Inc. has launched two “high-conviction” mutual funds that will provide unitholders with access to economic growth in Canada and North America through concentrated portfolios that have fewer stocks than traditional funds hold. BMO SIA Focused Canadian Equity Fund and BMO SIA Focused North American Equity Fund, both of which are subadvised by Calgary-based SIA Wealth Management Inc., offer Series A, F, D, I and Advisor Series versions, as well as ETF Series units (the last of which trade on the Toronto Stock Exchange). BMO SIA Focused Canadian Equity Fund’s annual management fee is 1.65% for Series A and Advisor Series units, and 0.65% for Series F units. BMO SIA Focused North American Equity Fund’s annual management fee is 1.70% for Series A and Advisor Series units, and 0.70% for Series F units. Advisor commissions on the Advisor Series units of both funds are 0%-5% for front-end sales, and 2% for the low-load option. Redemption fees begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule for the Advisor Series. For front-end and low-load sales, trailing commissions are 0%-1%. Minimum investment for the funds is $500.
Meanwhile, Toronto-based BMO Asset Management Inc. has launched ETF Series units of BMO Tactical Dividend ETF Fund, an actively managed fund focused on dividend-paying ETFs and short-term strategies. The fund is subadvised by Larry Berman of ETF Capital Management in Toronto. BMO Tactical Dividend ETF Fund Series A was named Best Mutual Fund in the Tactical Balanced Space over Three Years category at the 2018 Thomson Reuters Lipper Fund Awards. The ETF’s management fee is 0.70%.
For more information, visit bmo.com.