|By Marketwired .||
|June 4, 2014 08:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/04/14 -- BMO Financial Group today celebrated five years since its first four Exchange Traded Funds (ETFs) were listed on the TSX on June 4, 2009.
Since then, BMO's ETF business has grown rapidly and currently stands at $14.7 billion in assets under management (AUM). In the last two years, the total assets of BMO ETFs have more than doubled. Overall, the Canadian ETF industry currently has $68.5 billion in AUM and has grown 14 per cent in the last year.
"It's been five years since we launched our first ETFs and we couldn't be more proud of what we've achieved in this short period of time," said Rajiv Silgardo, Co-CEO, BMO Global Asset Management. "We're currently among the top ETF providers in the country. We can attribute a large part of our ongoing success to our strong and experienced team, who are committed not only to creating and managing innovative cost-effective solutions but also to educating investors on the many benefits of ETFs."
Mr. Silgardo added, "We've built a diverse set of ETFs that resonate across investor types, inclusive of institutional, advisor, and retail clients. We have created our ETF suite to include innovative smart beta and specialty solutions and strongly competitive broad market benchmarked funds. In addition, we have launched a wide array of fixed income strategies.
"We look forward to the years ahead as we continue to meet our clients' ever-evolving needs and help them achieve their objectives of income, growth and full diversification."
Recent BMO ETF Business Milestones
December 2013 - BMO AM is awarded Best ETF Initiative by Morningstar, for promoting education and awareness in the ETF industry along with building relationships with the investing and advisor community.
February 2014 - BMO AM launches seven new equity and fixed income based ETFs, which help investors achieve their objectives of income, growth and diversification. Its line-up reaches 58 ETFs.
April 2014 - BMO AM reduces the maximum annual management fee on several of its ETFs, continuing to demonstrate its market leadership in delivering effective, cost-efficient solutions for its clients.
June 2014 - BMO AM's ETFs celebrate their fifth anniversary and reach $14.7 billion in AUM.
Further information about BMO ETFs can be found at www.bmo.com/etfs.
Get the latest BMO press releases via Twitter by following @BMOmedia
BMO ETFs are managed and administered by BMO Asset Management Inc., a portfolio manager and investment fund manager and separate legal entity from Bank of Montreal.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of $582 billion and more than 45,500 employees at April 30, 2014.
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