| BMO
Investments Inc. Announces Changes to its Mutual Funds Line-Up
TORONTO, June 18, 2009 – BMO
Investments Inc. today announced proposed changes to the BMO Income Trust
Fund and BMO International Equity Fund to be effective on or about July
31, 2009.
BMO Income Trust Fund
Subject to unitholder approval, the investment objectives of BMO Income
Trust Fund will change to allow the fund to invest primarily in companies
that operate in, or are expected to benefit from, infrastructure-related
businesses from around the world. If the change to investment objectives,
along with proposed changes to the management and administration fees,
of this fund are approved, the investment strategies and distribution
policy for this fund will be revised to reflect the new objectives.
In addition, the portfolio manager of the fund will change from Guardian
Capital LP to Macquarie Capital Investment Management LLC, and the
fund’s name will change to “BMO Global Infrastructure Fund” to
reflect the above changes. A meeting of unitholders of this fund will
be held on or about July 30, 2009.
BMO International Equity Fund
Subject to unitholder approval, BMO International Equity Fund will be
merged into BMO International Value Class. BMO International Value
Class is a class of special shares of BMO Global Tax Advantage Funds
Inc. Units of BMO International Equity Fund will continue to be available
for sale until the close of business on July 24, 2009, at which time
new purchases into the fund will cease, except under a continuous savings
plan or similar systemic plan established prior to July 24, 2009.If
the proposed merger is approved, unitholders of the BMO International
Equity Fund will receive shares of BMO International Value Class. The
Independent Review Committee of each of BMO International Equity Fund
and BMO International Value Class has determined that the proposed
merger achieves a fair and reasonable result for each of these funds.
A meeting of securityholders of both funds will be held on or about
July 30, 2009.
About BMO Investments Inc.
BMO Investments Inc. is a member of the BMO Financial Group and part
of the organization’s Private Client Group. The Private Client
Group provides integrated wealth management services in Canada and the
United States and had total assets under management and administration
and term investments of $273 billion as at April 30, 2009.
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