BMO Asset Management, the manager of BMO Equity Linked Corporate Bond ETF, is to terminate the fund on or about 6 January 2017.
Effective today, no further direct subscriptions for units of the fund will be accepted by the manager.
The rights of unitholders of the fund to exchange or redeem units of the fund will cease as of the termination date. All units of the fund 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 fund's portfolio to cash, to the extent practicable. Upon the termination date, the fund's property remaining after paying or providing for the relevant fund's liabilities and obligations will be distributed pro rata among the fund's respective unitholders based on the net asset value per unit of the fund.
The manager will request that the Toronto Stock Exchange (TSX) de-list units of the fund from the TSX on or about 30 December 2016. Until such date, units of the fund will continue to be listed on the TSX.
BMO ETFs are managed and administered by BMO Asset Management, a portfolio manager and investment fund manager and separate legal entity from Bank of Montreal.
