BMO Adds Retirement Class Shares to Mutual Funds

BMO Global Asset Management is now offering retirement share classes for four BMO Funds.

The new R6 and R3 share classes will be available through defined contribution plans. These additional share classes provide clients, including plan sponsors, retirement plan platforms and the advisers that serve them, with greater flexibility with respect to pricing structures and include a lower cost option that meets the growing demand for transparency.

“BMO Global Asset Management and our recordkeeper, BMO Retirement Services, have long advocated for increased transparency of fees and expenses and worked to help our clients meet their fiduciary responsibilities,” says Phil Enochs, head of Relationship Management, BMO Global Asset Management, based in Chicago. “Adding these share classes to several of our most attractive BMO Funds will allow us to do just that.”

The BMO Funds now offered with the new retirement share classes include the BMO Mid-Cap Growth Fund, BMO Mid-Cap Value Fund, BMO Pyrford International Fund and BMO Small-Cap Value Fund.

The BMO family of funds also added A class shares to 26 existing funds to enhance further pricing flexibility for clients. These funds include BMO Dividend Income, Global Low Volatility Equity, Global Natural Resources, Intermediate Tax-Free, Large-Cap Growth, Large-Cap Value, Lloyd George Emerging Markets Equity, Low Volatility Equity, Micro-Cap, Mid-Cap Growth, Mid-Cap Value, Monegy High Yield Bond, Mortgage Income, Multi-Asset Income, Pyrford Global Equity, Pyrford Global Strategic Return, Pyrford International Stock, Short Term Tax-Free, Short-Term Income, Small-Cap Core, Small-Cap Value, BMO TCH Core Plus Bond, TCH Corporate Income, TCH Emerging Markets Bond, TCH Intermediate Income and Ultra Short Tax-Free Funds.

BMO Global Asset Management also offers six new open-end mutual funds. The funds are the result of the conversion of the BMO Managed Asset Allocation Program risk-based collective investment trusts into traditional mutual funds, effective May 30.

Along the lines of the BMO family of 10 target-date funds, the newly re-characterized risk-based asset allocations funds are designed to streamline the decision process with a comprehensive approach to investing. The new funds are available in the share classes of Class Y, Class I, Class R-3 and Class R-6, and include:

  • BMO Diversified Income Fund;
  • BMO Moderate Balanced Fund;
  • BMO Growth Balanced Fund;
  • BMO Aggressive Allocation Fund;
  • BMO Diversified Stock Fund; and
  • BMO Aggressive Stock Funds.

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Information on the investment objectives, risks, charges and expenses of the BMO Funds can be obtained by calling 800-580-3863 and requesting a prospectus.

BMO Global Asset Management is the brand name for various affiliated entities of BMO Financial Group that provide investment management, retirement, and trust and custody services. BMO Financial Group is a service mark of Bank of Montreal (BMO).