BMO Investments Inc. Announces a Portfolio Manager Change and Service Fee Adjustments

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BMO Investments Inc. (a member of the BMO Financial Group) announced that effective Jan 08, 2010 they are replacing the portfolio manager of BMO Global Equity Class a class of BMO Global Tax Advantage Funds Inc.

London-based Insight Investment Management (Global) Ltd., formerly Rothschild Asset Management Ltd. is the current manager and will be replaced by Aberdeen Asset Management Inc. Aberdeen Asset Management Inc. is an independent investment manager, managing over C$251 billion for individual and institutional clients throughout the world. The regional investment teams are based in the markets or regions in which they invest. They are based in Aberdeen, Scotland. The global management team for the fund is in Edinburgh, and led by Stephen Docherty.

The fund since it was formed in November 2000, is a second-quartile performer over the five- and six-year periods ended Nov. 30. But over the one- and three-year periods, the fund has performed in the fourth quartile.

In addition in their press release BMO Investments Inc. announced that on our about January 1, 2010, BMO Investments Inc., as manager, will increase the maximum service fee under the sales charge option of BMO Guardian Monthly Dividend Fund Ltd. from 0.75% to 1.00%, under the standard deferred charge option from 0.25% to 0.50%, and under the low load deferred charge option from 0.50% to 1.00%. There will be no increase to the maximum service fee under the sales charge option for Classic Units.

Also effective on or about January 1, 2010, BMO Investments Inc., as manager, will increase the maximum service fee under the low load deferred charge option of BMO Guardian Canadian Diversified Monthly Income Fund from 0.50% to 1.00%. There will be no increase to the maximum service fee under the sales charge option or under the standard deferred charge option.

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Meritas Financial Inc. And Qtrade Fund Management to Merge.

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Meritas Financial Inc. and Qtrade Fund Management Inc. have announced a plan to merge.

The merger will result in Meritas Mutual Funds becoming a separate division of QTrade Financial and they will maintain their philosophy of socially responsible investing(SRI). (No investments in tobacco, military or companies harmful to the environment).

It is expected the deal will close at the end of March. The Meritas team will continue to be headed by Gary Hawton and when the deal is finalized he will become the chief investment officer of the Qtrade fund management division.

"For us, it gives us a more national presence. Right now, while our funds are for sale right across Canada, all of our employees are in Ontario," Hawton said.
Hawton will report to Qtrade head Scott Gibner, who will become chief executive officer of Meritas's new parent company.

"Meritas' strong and unwavering commitment to SRI over the last 10 years has been the foundation for their success and, as SRI funds continue to grow in popularity in Canada and globally, we believe this dedication and historical track record will continue to serve Meritas very well into the future," Gibner said in a statement.

Gibner, also said the company wanted to broaden its wealth-management portfolio.

“One of our primary goals will be to build the status of Qtrade’s investment solutions nationally, including a large focus on Meritas industry-leading socially responsible investment funds.”

Together the two companies will have combined assets of more than $4.3 billion from individual and institutional investors.

Stay on Track,

Money Magazine Hoss

Next Hoss Cents Free Financial Money Magazine Post: Dec. 19, 2009.
Return to previous post from Meritas Financial Inc. And Qtrade Fund Management to Merge.

Related Posts:

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