TORONTO, July 31, 2019 /CNW/ - BMO Asset Management Inc. (the "Manager"), the Manager of each of BMO Global Banks Hedged to CAD Index ETF (Ticker: BANK), BMO Global Insurance Hedged to CAD Index ETF (Ticker: INSR) and BMO Shiller Select US Index ETF (Ticker: ZEUS) (each a "Fund" and collectively, the "Funds"), has announced that it will terminate the Funds on or about November 1, 2019 (the "Termination Date").

Pursuant to the declaration of trust governing the Funds, the Manager may terminate the Funds after giving 60 days' notice to unitholders. 

Effective today, no further direct subscriptions for units of each of the Funds will be accepted by the Manager. The rights of unitholders of the Funds to exchange or redeem units of the Funds will cease as of the Termination Date. All units of the Funds held by investors after such date will be subject to a mandatory redemption.

On or about the Termination Date, the Manager will, to the extent practicable, convert each Fund's portfolio to cash and each Fund's property remaining after paying or providing for the Funds' liabilities and obligations will be distributed pro rata to each Fund's respective unitholders based on the net asset value per unit. 

The Manager will request that the TSX de-list units of the Funds from the Toronto Stock Exchange (the "TSX") on or about October 29, 2019. Until the date of de-listing, units of the Funds will continue to be listed on the TSX. 

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 (if any) all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

Shiller Barclays CAPE® US Single Stock Index is the intellectual property of Barclays Bank PLC and has been licensed for use in connection with ZEUS. ZEUS is not sponsored, endorsed, sold or promoted by Barclays Bank PLC or any of its affiliates. Neither Barclays Bank PLC nor any of its affiliates makes any representations or warranties to holders of the ZEUS or any member of the public regarding the advisability of investing in the ZEUS.

Further information about BMO ETFs can be found at www.bmo.com/etfs.

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About BMO Exchange Traded Funds (ETFs)
Established in May 2009, BMO Financial Group's ETF business is a leading ETF provider in Canada. BMO ETFs provide Canadian investors with broader choices and greater access to an innovative portfolio of investment products.

About BMO Financial Group 
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $830 billion as of April 30, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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