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BMO Insurance launches new GIFs


BMO Insurance has launched BMO Guaranteed Investment Funds (GIFs) – segregated funds which are designed to help Canadians reach their retirement saving goals while protecting their hard-earned dollars.

The five new BMO GIFs include both balanced exchange-traded funds (ETFs) and money market investment options.
The funds are targeted at pre-retirees and retirees who seek to accumulate wealth for retirement by investing in the market while benefitting from deposit guarantees which provide market downside protection. Deposit guarantees are effective on a future "maturity date" selected by the client (15 to 25 years) or on the death of the annuitant.
"We've introduced these new funds for investors who are looking to invest in the market to meet their retirement saving goals while limiting their investment risk," says Peter McCarthy, president and CEO, BMO Insurance. "They're a reflection of our ongoing commitment to meeting the diverse needs of investors and broadening the range of wealth management services available to them."
BMO GIFs have key differentiating features that together make them unlike other segregated funds existing in the market. In addition to guarantees on the principal of up to 100 per cent upon maturity and death, the client's "maturity guarantee amount" is reset automatically every month, which can increase the amount payable upon the maturity date. This feature effectively locks in the client's market gains for the future.
Investment options include:
• Canadian Balanced Growth Fund
• US Balanced Growth Fund
• Canadian Income Strategy Fund
• North American Income Strategy Fund
• Money Market Fund

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