BMO Asset Management
is taking its ETFs in a different direction. Most notably, the firm is switching two of its ETFs from Dow Jones indices to S&P benchmarks.
BMO plans to change BMO Dow Jones Canada Titans 60 Index ETF
to S&P/TSX capped Composite Index ETF
, and BMO U.S. Equity Hedged to CAD Index ETF
to BMO S&P Hedged to CAD Index ETF
, Money Management Executive reports
VP and PM Mark Raes
that tracking index leaders "gives investors the most confidence in our products.”
Other proposed changes include limiting the BMO Global Infrastructure Index
, which is based on the Dow Jones Brookfield Global Infrastructure Index, to North American listed securities only. Theoretically, this would result in a more "replicable index" that will make it easier for market makers to hedge the ETF.
Unitholders will vote at a Sept. 13 meeting in Toronto on whether to go ahead with the proposed changes.
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