TORONTO, March 2, 2020 /CNW/ - BMO Investments Inc. ("BMOII"), the manager of BMO LifeStage Plus 2022 Fund, BMO LifeStage Plus 2025 Fund and BMO LifeStage Plus 2026 Fund (each a "Fund" and collectively, the "Funds"), today announced that each Fund's portfolio allocation has been changed to a "protected" asset mix.

Each Fund's portfolio will now consist entirely of fixed income investments (including provincial and corporate bonds) and cash equivalents until its target end date. In keeping with each Fund's investment strategies, this reallocation to a fixed income portfolio is intended to ensure each Fund is able to pay investors the Guaranteed Maturity Amount¹ at its target end date.  

As a result of this change, BMOII has reduced the management fees on Series A, Series D and Advisor Series units of the Funds as indicated in the table below effective as of the close of business on March 2, 2020:

In addition, the Funds will no longer be available for purchase by investors, including under any pre-authorized contribution plan, effective as of the close of business on March 2, 2020.

For more information about the Funds and other BMO Mutual Funds please visit www.bmo.com/mutualfunds.

^®/™Registered trade-marks/trade-mark of Bank of Montreal, used under licence.

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

BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.

Commissions, management fees and expenses all may be associated with investments in mutual funds. Trailing commissions may be associated with investments in certain series of securities of mutual funds.  Please read the fund facts or simplified prospectus of the relevant mutual fund before investing.  Mutual 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 BMO Mutual Funds, please see the specific risks set out in the simplified prospectus. 

About BMO LifeStage Plus Funds
BMO LifeStage Plus Funds are products designed to protect a customer's investment provided that the customer remains invested in a fund until its target end date. 

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 $880 billion as of January 31, 2020, 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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