BMO Investments Inc. Launches ETF Series for BMO Money Market Fund
TORONTO, Dec. 1, 2021 /CNW/ - BMO Investments Inc., the manager of the BMO Mutual Funds, today announced the launch of ETF Series units for the BMO Money Market Fund.
BMO Money Market Fund – ETF Series' (Ticker: ZMMK) objective is to provide capital preservation by investing in a portfolio of high-quality money market instruments issued by governments and corporations in Canada.
To support this objective, the portfolio manager selects high-quality money market instruments that mature in less than 365 days and have an average term of 90 days or less to reset date and 180 days to maturity date.
The offering of ETF Series units of the fund has closed and it will begin trading on the Toronto Stock Exchange today.
"We're pleased to be expanding our ETF shelf to include ETF Series units of BMO Money Market Fund," said Mark Raes, Head of Product, BMO Global Asset Management Canada. "ZMMK provides a solution for investors looking for a liquidity sleeve, or a place to hold their cash as they assess the market for other investments."
Further information about BMO ETFs and ETF Series of the BMO Mutual Funds can be found at www.bmo.com/etfs.
®/™Registered trademarks/trademark of Bank of Montreal, used under licence.
BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc., BMO Investments Inc. and BMO Asset Management Corp.
BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
Commissions, trailing commissions (if applicable), management fees and expenses all may be associated with mutual fund investments. Please read the fund facts, ETF facts or the simplified prospectus of the relevant mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that BMO Money Market Fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in this fund will be returned to you. Distributions are not guaranteed and are subject to change and/or elimination. For a summary of the risks of an investment in BMO Mutual Funds, please see the specific risks set out in the simplified prospectus. ETF Series of the BMO Mutual Funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss.
About BMO Exchange Traded Funds (ETFs)
BMO Exchange Traded Funds has been a leading ETF provider in Canada for more than 11 years, with over 100 strategies, over 25 per cent market share in Canada1, and $80.6 billion in assets under management. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.
1Morningstar, October 2021
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $971 billion as of July 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
