Bringing you live news and features since 2006 


BMO Asset Management to terminate three ETFs


BMO Asset Management is to terminate BMO 2015 Corporate Bond Target Maturity ETF, BMO 2020 Corporate Bond Target Maturity ETF, and BMO 2025 Corporate Bond Target Maturity ETF, on or about 7 August, 2015.

Pursuant to the declaration of trust governing the Funds, the Manager may terminate the Funds on not fewer than 60 days' notice to unitholders.

Effective 29 May, no further direct subscriptions for units of the Funds have been accepted by the Manager. The rights of unitholders of the Funds to exchange or redeem units of the Funds will cease as and from the Termination Date. All units of the Funds held by investors after such date will be subject to a mandatory redemption as of the Termination Date.

On or about the Termination Date, the Manager will convert the Funds' portfolios to cash, to the extent practicable. Upon the Termination Date, each Fund's property remaining after paying or providing for the relevant Fund's liabilities and obligations will be distributed pro rata among the Funds' respective unitholders based on the net asset value per unit of the Fund that is held by such unitholders.

The Manager will request the TSX to de-list units of the Funds from the Toronto Stock Exchange (the "TSX") on or about 4 August, 2015. Until such date, units of the Funds will continue to be listed on the TSX.

Latest News

Just the two European launches this week with Fidelity bringing us a global government bond climate aware UCITS ETF and..
Ten new ETF solutions were launched for the week, each with a distinct value proposition for investors.  Detailed below are..
U.S. Bank has announced the launch of their new ETF services in Europe, as well as their first client for..
ETF data providers ETFGI has reported that the ETFs industry in the United States gathered net inflows of USD8.17 billion..

Related Articles

Off the Record Episode 1
ETF Express is pleased to announce the launch of Off the Record, a new podcast series, in partnership with Truss...
February ETF flow figures from iShares at BlackRock reveal that inflows into global ETPs were moderate for a fifth consecutive...
Noel Archard, AllianceBernstein
Noel Archard has been in position as the global head of ETFs at AllianceBernstein for just over a year and...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by