BMO Harris portfolio to focus on U.S.

BMO Harris Investment Management is seeking regulatory approval to change the investment objective of its International Special Equity Portfolio.

The portfolio’s current objective is to achieve long-term growth by primarily investing in small- and mid-sized companies internationally. The manager has determined, however, that there are limited opportunities available for a mandate investing in these companies.

As a result, the portfolio will reflect a U.S. small- and mid-capitalization equity mandate instead, and invest only in U.S.-based securities.

The name of the portfolio would change to the BMO Harris U.S. Special Equity Portfolio. The sub-advisor is now GlobeFlex Capital, L.P., but would be switched to a new sub-advisor with expertise in the U.S. market.

It’s expected it will also adopt new investment strategies to reflect the investment style of the new sub-advisor.

Changes would be implemented by mid-September 2012 if approved.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.