June 14, 2009 – News Today

BMO dips a toe into exchange-traded funds

The major Canadian banks are among the biggest players in our investment fund industry. But, until very recently, they held a market share of zero in the fastest growing segment: exchange-traded funds.

That changed on June 4, when the first four ETFs sponsored by BMO Financial Group opened for trading on the Toronto Stock Exchange. BMO starts off with a large-cap Canadian equity fund, two U.S. equity funds and a Canadian government bond fund.