Portfolio management changes at BMO

Toronto-based BMO Investments Inc. has implemented several portfolio-management changes. BMO Asset Management Inc. (BMOAM) will replace the current portfolio manager, Toronto-based UBS Global Asset Management (Canada) Co., and will assume all portfolio-management duties for BMO Global Monthly Income Fund. The investment strategy of BMO Global Monthly Income Fund will be changed to reflect the investment style of BMOAM. This change will be effective on or about Nov. 15. Regarding BMO Guardian Floating Rate Income Fund, Toronto-based Monegy Inc., a subsidiary of BMOAM, will replace the current portfolio manager, Toronto-based Guardian Capital LP, and will assume all portfolio management duties for that fund. The investment strategy of BMO Guardian Floating Rate Income Fund will be revised to reflect a shift toward investing in a larger proportion of U.S.-based issuers of floating-rate notes. This change will be effective on or about Nov. 23. Regarding BMO Global Equity Class, a class of shares of BMO Global Tax Advantage Funds Inc., BMOAM will replace the current portfolio manager, Toronto-based Aberdeen Asset Management Inc., and will assume all portfolio-management duties for that fund. The investment strategies of BMO Global Equity Class will be revised to reflect the quantitative model based on fundamental equities analysis that will be used by BMOAM to select securities for the fund’s portfolio. This change will be effective on or about Nov. 30.

(cohara@investmentexecutive.com).