BMO Asset Management Inc. today announced that changes to the investment objectives of two BMO Exchange Traded Funds were approved at a special meeting of unitholders. Once these changes are implemented, each BMO ETF will seek to replicate the performance of a new index as follows:
|BMO ETF||Ticker||New Index||New Name|
|BMO International Equity Hedged to CAD Index ETF||ZDM||MSCI EAFE 100% Hedged to CAD Dollars Index||BMO MSCI EAFE Hedged to CAD Index ETF|
|BMO Emerging Markets Equity Index ETF||ZEM||MSCI Emerging Markets Index||BMO MSCI Emerging Markets Index ETF|
The MSCI EAFE 100% Hedged to CAD Dollar Index and the MSCI Emerging Markets Index are recognized as the pre-eminent benchmark of international equity performance and global emerging markets equity performance, respectively.
The changes to the investment objectives of ZDM and ZEM will be effective on or about April 1, 2013.
In connection with the change, the maximum annual management fee for BMO MSCI EAFE Hedged to CAD Index ETF will be lowered to 0.350 per cent and for BMO MSCI Emerging Markets Index ETF will be lowered to 0.450 per cent.