BMO Asset Management Inc. Announces Unit Consolidations on Six Commodity-Based Exchange Traded Funds

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

BMO Asset Management Inc. Announces Unit Consolidations on Six Commodity-Based Exchange Traded Funds

Canada NewsWire

TORONTO, Jan. 16, 2019 /CNW/ - BMO Asset Management Inc. ("BMO AM") today announced that it intends to consolidate the units of certain commodity-based Exchange Traded Funds (the "ETFs") which trade on the Toronto Stock Exchange.

After the close of trading on Friday January 25, 2019, the units of the ETFs set out below will be consolidated on the basis of the ratios indicated (the "Consolidation Ratios"), and will begin trading on a post-consolidated basis on Monday, January 28, 2019 – the effective date of the consolidations.

Fund Name and Ticker

Consolidation

Ratio

BMO Equal Weight Global Base Metals Hedged to CAD Index ETF (ZMT)

1:5

BMO Equal Weight Global Gold Index ETF (ZGD)

1:5

BMO Equal Weight Oil & Gas Index ETF (ZEO)

1:5

BMO Junior Gas Index ETF (ZJN)

1:4

BMO Junior Gold Index ETF (ZJG)

1:6

BMO Junior Oil Index ETF (ZJO)

1:5

When a unit consolidation occurs, the net asset value per unit is increased by the same ratio as the units are consolidated so that the unit consolidation has no impact on the value of the investor's total unit position. An investor's cost per unit also increases by the same ratio as the units are consolidated, and the investor's total cost remains unchanged.

No fractional units will be issued. Where the consolidation results in a fractional unit, the number of post-consolidation units will be rounded down to the nearest whole unit, in the case of a fractional interest that is less than 0.5, or rounded up to the nearest whole number, in the case of a fractional interest that is 0.5 or greater.

Investor Information

Unitholders of the ETFs do not need to take any action to effect these transactions and brokerage accounts will be automatically updated to reflect the consolidation(s).

A broker may take several days to reflect these transactions in a unitholder's account (the "Settlement Period"). However, units of the ETFs may still be traded during the Settlement Period. BMO AM recommends investors contact their broker should they wish to trade post-consolidation units during the Settlement Period.

BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc., BMO Investments Inc., BMO Asset Management Corp. and BMO's specialized investment management firms.

BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a 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 ETF Facts or prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the prospectus.  BMO ETFs and ETF series trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

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 $774 billion as of October 31, 2018, 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

View original content: http://www.newswire.ca/en/releases/archive/January2019/16/c8061.html

Copyright CNW Group 2019

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).