BMO to shutter six funds

Toronto-based BMO Investment Inc. intends to close six of its mutual funds by the end of June. As of June 28, the following funds will be terminated: BMO LifeStage 2017 Class, BMO LifeStage 2020 Class, BMO LifeStage 2025 Class, BMO LifeStage 2030 Class, BMO LifeStage 2035 Class and BMO LifeStage 2040 Class. These funds are no longer accepting new investments. Unitholders may redeem or switch their investments to other BMO funds by the close of business on June 27. If no action is taken, investments in non-registered accounts will be redeemed and unitholders will be paid the proceeds. Investments in registered accounts will be transferred automatically into BMO Money Market Fund on the termination date. Unitholders will not pay any redemption fees or sales charges for redemptions at the time of termination of the funds to be closed.

(fcollie@investmentexecutive.com).