BMO Global Asset Management reported today that ts U.S. mutual fund family has surpassed $10 billion in assets under management (AUM). The business grew by 19.4 percent last year.
“BMO Global Asset Management has reached this significant milestone by addressing and anticipating the needs of U.S. investors and developing innovative solutions to help them achieve their financial goals,” stated Barry McInerney, co-chief executive of BMO Global Asset Management. “Our solid and fast-growing mutual fund platform offers global capabilities to a diverse client base that includes mass affluent and high net worth individuals as well as institutions, all of whom turn to us for our worldwide reach, regional expertise and boutique-style approach. We will continue to build our mutual fund portfolio so we can help our clients meet their investment objectives, achieve enhanced return opportunities, and effectively respond to volatile market conditions.”
In 2012, BMO launched six new funds to meet the growing demand of investors seeking non-correlated asset classes.
BMO’s Mutual Fund Business Surpasses $10 Billion in Assets Under Management
Award-winning mutual fund business grew by 19.4 percent in 2012 Global reach, regional expertise and boutique-style approach favored by individual and institutional clients Six new innovative funds launched to help U.S. investors help diversify their portfolios and achieve financial goals
CHICAGO, Jan. 24, 2013 – BMO Global Asset Management today announced that its U.S. mutual fund family has surpassed $10 billion in assets under management (AUM). The business grew by an exceptional 19.4 percent last year through December 31, 2012, making it one of the fastest growing mutual fund families, according to Strategic Insight.
“BMO Global Asset Management has reached this significant milestone by addressing and anticipating the needs of U.S. investors and developing innovative solutions to help them achieve their financial goals,” said Barry McInerney, Co-CEO, BMO Global Asset Management. “Our solid and fast-growing mutual fund platform offers global capabilities to a diverse client base that includes mass affluent and high net worth individuals as well as institutions, all of whom turn to us for our worldwide reach, regional expertise and boutique-style approach. We will continue to build our mutual fund portfolio so we can help our clients meet their investment objectives, achieve enhanced return opportunities, and effectively respond to volatile market conditions.”
BMO Funds provide a wide range of equity, fixed income and money market fund options across the risk/reward spectrum. The company takes a disciplined approach to uncover investment opportunities that demonstrate value, growth catalysts, income, pay dividends, and provide cash flow.
BMO Global Asset Management’s award-winning mutual fund business was the 23rd fastest growing in the U.S. during this period, with a platform comprising of 24 mutual funds:
Eight of BMO’s 14 Morningstar-rated funds ranked four-star or five-star (as of 12/31/12).
According to Lipper, of the BMO Funds that have at least a five-year track record, 65 percent are in the first quartile and 25 percent are in the second quartile (as of 12/31/12).
BMO Intermediate Tax-Free Fund (Y shares) and BMO Small-Cap Growth Fund (Y shares) have been recognized by the Lipper Fund Awards for best risk-adjusted performance over five and 10 years, respectively (as of 11/30/11).
BMO’s strong cash flow into mutual fund complex is due to strong long-term performance.
BMO Retirement Services has been identified as the top DC platform in the U.S. six years in a row in terms of service excellence (PLANSPONSOR®).
BMO has best-in-class institutional trust and custody services with more than 1,500 institutional clients representing more than $70 billion in assets.
In 2012, BMO launched six new funds to meet the growing demand of investors seeking non-correlated asset classes in order to diversify their portfolios, manage risk or enhance returns, including:
BMO Short Tax-Free Fund - provides current income exempt from federal income tax consistent with the preservation of capital.
BMO Low Volatility Equity Fund - designed to provide investors with long-term returns comparable to U.S. large cap stocks but with less volatility.
BMO Pyrford Global Strategic Return Fund - maximizes total return by investing primarily in investment-grade sovereign debt securities and equity securities.
BMO Pyrford International Stock Fund - seeks capital appreciation by investing its assets primarily in equity securities of companies located in a number of countries outside the U.S.
BMO Monegy High Yield Bond Fund - maximizes total return consistent with current income by investing at least 80 per cent of its assets in a diversified portfolio of domestic and foreign high yield.
BMO Dividend Income Fund - invests primarily in dividend paying common stocks of large-sized U.S. companies, similar in size to those within the S&P 500 Index.
In addition, Lloyd George Management, a wholly owned subsidary of BMO Global Asset Management, recently took over sub-advising BMO's Emerging Market Equity Fund, which invests in a diversified portfolio of common stocks of foreign companies located in emerging market countries.
For more information, please visit: HYPERLINK "http://www.bmofundsus.com" www.bmofundsus.com
About BMO Family of Funds
The BMO Funds are a global family of actively managed mutual funds. The firm’s 24 funds span the risk/reward spectrum and include: domestic and international equity funds, taxable and tax-free fixed income funds, emerging market equity and money market funds.
The family of funds is managed by a multi-disciplined team based in Chicago and Milwaukee, and by a network of world-class boutique managers, which are strategically located across the globe. This network includes Monegy, Inc. (Toronto), Pyrford International Ltd. (London), Lloyd George Management (Hong Kong) and Taplin, Canida & Habacht, LLC (U.S.).
Established in 1992, BMO Funds are advised by BMO Asset Management U.S. and offers Institutional (I) and Investor (Y) class shares. Along with its subsidiary boutiques and affiliates, the advisor oversees more than $50 billion in assets under management. BMO Funds is a part of BMO Financial Group, a fully diversified financial services organization with $525 billion total assets and more than 46,000 employees as of October 31, 2012.
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BMO Global Asset Management is the brand name for various affiliated entities of BMO Financial Group that provide investment management, retirement plan services, and trust and custody. Certain of the products and services offered under the brand name BMO Global Asset Management are designed specifically for various categories of investors in a number of different countries and regions. Products and services are only offered to such investors in those countries and regions in accordance with applicable laws and regulations. BMO Financial Group is a service mark of Bank of Montreal (BMO).
BMO Asset Management U.S. consists of BMO Asset Management Corp., Monegy and TCH.
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