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BMO sets investment minimums at $500 and MER at 0.85%.
Waking up to the reality that self-directed investors simply want greater access to low-cost funds, BMO Investments Inc. announced that as of April 8 it is now offering a suite of 33 Series D mutual funds exclusively through its BMO InvestorLine.
Investment minimums for the funds, which are designed for those who don’t require an adviser’s services and want to make their own investment decisions, are only $500. The management expense ratio (MER) savings for some of these funds is considerable compared to BMO’s corresponding Series A offerings. For instance, the BMO U.S. Equity ETF Fund Series D has an MER of 0.85%, which is one 1.16 percentage points lower than its Series A counterpart.
BMO Investments Inc. has also reduced management fees across its series of 67 Series F mutual fund lineup, providing investors with increased access to lower cost mutual funds within fee-based accounts.
Below is a list of the new BMO Mutual Fund Series D target MERs and their BMO Mutual Fund Series A MER savings.
|
Fund/Portfolios
|
Series D Target MER
|
Series A MER savings
|
| BMO Fixed Income ETF Portfolio Series D |
0.85 |
New Fund |
| BMO Security ETF Portfolio Series D |
0.85 |
New Fund |
| BMO Conservative ETF Portfolio Series D |
0.85 |
New Fund |
| BMO Balanced ETF Portfolio Series D |
0.90 |
New Fund |
| BMO Growth ETF Portfolio Series D |
0.90 |
New Fund |
| BMO Equity Growth ETF Portfolio Series D |
0.95 |
New Fund |
| ETF Based Solutions | ||
| BMO Tactical Dividend ETF Fund Series D |
1.20 |
New fund |
| BMO Target Enhanced Yield ETF Portfolio Series D |
1.05 |
1.71 |
| BMO Target Yield ETF Portfolio Series D |
0.85 |
1.58 |
| Index Funds | ||
| BMO Canadian Equity ETF Fund Series D |
0.80 |
1.05 |
| BMO U.S. Equity ETF Fund Series D |
0.85 |
1.16 |
| BMO International Equity ETF Fund Series D |
1.00 |
1.16 |
| Income Funds | ||
| BMO Bond Fund Series D |
0.75 |
1.60 |
| BMO Global Strategic Bond Fund Series D |
1.35 |
2.23 |
| BMO Emerging Markets Bond Fund Series D |
1.30 |
New fund |
| BMO U.S. High Yield Bond Fund Series D |
1.15 |
2.21 |
| BMO Preferred Share Fund Series D |
1.15 |
New fund |
| BMO Floating Rate Income Fund Series D |
1.15 |
1.85 |
| Balanced Funds | ||
| BMO Monthly Income Fund Series D |
1.05 |
1.57 |
| BMO Asset Allocation Fund Series D |
1.05 |
2.12 |
| Equity Funds | ||
| BMO Canadian Small Cap Fund Series D |
1.40 |
2.51 |
| BMO Canadian Stock Selection Fund Series D |
1.20 |
New fund |
| BMO Canadian Equity Fund Series D |
1.20 |
2.39 |
| BMO Monthly High Income Fund II Series D |
1.30 |
2.37 |
| BMO Enhanced Equity Income Fund Series D |
1.20 |
2.09 |
| BMO Dividend Fund Series D |
1.20 |
1.80 |
| BMO Asian Growth & Income Fund Series D |
1.80 |
2.87 |
| BMO Emerging Markets Fund Series D |
1.55 |
2.65 |
| BMO European Fund Series D |
1.55 |
2.52 |
| BMO International Value Fund Series D |
1.55 |
2.52 |
| BMO Global Infrastructure Fund Series D |
1.80 |
2.63 |
| BMO U.S. Equity Fund Series D |
1.25 |
2.49 |
| BMO Global Dividend Fund Series D |
1.30 |
2.58 |
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