BMO to streamline fund shelf

BMO Investments has announced plans to consolidate its mutual fund line-up, terminating 17 funds and merging their assets into similar mandates.

The mergers and terminations are subject to securityholder and regulatory approvals. If approved, the mergers will be effective in June 2012.

Securityholder approval for the relevant funds will be sought at special meetings to be held on or about May 18, 2012.

If the proposed mergers are approved, securityholders of each class or series of each terminating fund will receive securities of the equivalent class or series of the corresponding continuing fund, determined on a dollar-for-dollar basis.

Securities of the terminating funds will no longer be offered for sale beginning May 24, 2012. The terminating funds will be wound up as soon as possible following the mergers.

The affected funds are as follows:

BMO Investments also announced that the following two pre-approved mergers will be effective in June 2012.

Each of these mergers has received approval from the Independent Review Committee after determining that each merger, if implemented, achieves a fair and reasonable result for the applicable funds. As these mergers satisfy certain regulatory criteria, they are not subject to securityholder or regulatory approvals. However, securityholders of each of these Terminating Funds will receive written notice of these mergers at least 60 days prior to the effective date of each merger.

Securityholders of each series of each of these Terminating Funds will receive securities of the equivalent series of the applicable Continuing Fund, determined on a dollar-for-dollar basis. Securities of these Terminating Funds will no longer be offered for sale beginning May 24, 2012. These Terminating Funds will be wound up as soon as possible following the mergers.

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