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BMO ETF Business Reaches $2 Billion in Assets in Under Two Years
- Company achieves milestone while offering Canadians industry firsts including ETF Portfolios, Junior Gold and Target Maturity ETFs - Announcement comes just six months after reaching $1 billion in assets under management
Apr 1, 2011 5:00:00 AM
TORONTO, ONTARIO--(Marketwire - April 1, 2011) - BMO Financial Group today announced its Exchange Traded Fund (ETF)(i) business has reached $2 billion in assets under management in fewer than two years - a milestone that surpassed the company's expectations and speaks to the rising demand among Canadian investors for innovative investment options that are transparent and low in cost.
In 2009, Bank of Montreal became the only bank in Canada to offer ETFs, through its affiliate, BMO Asset Management Inc. It has since led the industry in introducing innovative products to meet investor needs and currently offers a total of 40 ETFs in its broad product line-up.
The ETF business has doubled in the last six months within the organization; in September, 2010 BMO Financial Group crossed the $1 billion mark in ETF assets under management.
"We attribute much of our rapid growth to our experienced ETF team who have made it a priority to provide investors with products that cater to a wide range of needs," said Rajiv Silgardo, CEO, BMO Asset Management Inc. "We've built on our initial success and have evolved the ETF landscape not only in Canada but across many global markets."
Mr. Silgardo added that a large part of the success of the ETF business comes from the company's straightforward approach to educating investors on the many benefits of ETFs and making information readily available, whether through client materials, investor seminars, a user-friendly website or access to an experienced team of advisors.
Over the past two years, BMO ETFs have provided investors with a number of innovative market firsts, including:
-- BMO's ETF Portfolios provide all-in-one solutions that leverage the
benefits of ETFs with the convenience of mutual funds.
-- The BMO Junior Gold Index ETF is the first ETF in Canada to offer small
cap gold exposure.
-- BMO's Target Maturity ETFs are the first Canadian ETFs to allow
investors to plan for future expenditures through diversified fixed
income portfolios with defined maturity dates.
-- The BMO Covered Call Canadian Banks ETF offers an income-focused
strategy, enhancing yield and decreasing risk.
"Moving forward, BMO's ETF team will continue to build on our strong success by anticipating the needs of investors and developing innovative offerings," concluded Mr. Silgardo.
(i)BMO ETFs are managed and administered by BMO Asset Management Inc., a portfolio manager and a separate legal entity from the Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $413 billion as at January 31, 2011, and more than 38,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
- Company achieves milestone while offering Canadians industry firsts including ETF Portfolios, Junior Gold and Target Maturity ETFs - Announcement comes just six months after reaching $1 billion in assets under management
Apr 1, 2011 5:00:00 AM
TORONTO, ONTARIO--(Marketwire - April 1, 2011) - BMO Financial Group today announced its Exchange Traded Fund (ETF)(i) business has reached $2 billion in assets under management in fewer than two years - a milestone that surpassed the company's expectations and speaks to the rising demand among Canadian investors for innovative investment options that are transparent and low in cost.
In 2009, Bank of Montreal became the only bank in Canada to offer ETFs, through its affiliate, BMO Asset Management Inc. It has since led the industry in introducing innovative products to meet investor needs and currently offers a total of 40 ETFs in its broad product line-up.
The ETF business has doubled in the last six months within the organization; in September, 2010 BMO Financial Group crossed the $1 billion mark in ETF assets under management.
"We attribute much of our rapid growth to our experienced ETF team who have made it a priority to provide investors with products that cater to a wide range of needs," said Rajiv Silgardo, CEO, BMO Asset Management Inc. "We've built on our initial success and have evolved the ETF landscape not only in Canada but across many global markets."
Mr. Silgardo added that a large part of the success of the ETF business comes from the company's straightforward approach to educating investors on the many benefits of ETFs and making information readily available, whether through client materials, investor seminars, a user-friendly website or access to an experienced team of advisors.
Over the past two years, BMO ETFs have provided investors with a number of innovative market firsts, including:
-- BMO's ETF Portfolios provide all-in-one solutions that leverage the
benefits of ETFs with the convenience of mutual funds.
-- The BMO Junior Gold Index ETF is the first ETF in Canada to offer small
cap gold exposure.
-- BMO's Target Maturity ETFs are the first Canadian ETFs to allow
investors to plan for future expenditures through diversified fixed
income portfolios with defined maturity dates.
-- The BMO Covered Call Canadian Banks ETF offers an income-focused
strategy, enhancing yield and decreasing risk.
"Moving forward, BMO's ETF team will continue to build on our strong success by anticipating the needs of investors and developing innovative offerings," concluded Mr. Silgardo.
(i)BMO ETFs are managed and administered by BMO Asset Management Inc., a portfolio manager and a separate legal entity from the Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $413 billion as at January 31, 2011, and more than 38,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
