BMO seeks reorganization of two investment-grade bond funds

By Toni Weeks

San Luis Obispo, Calif., June 26 - BMO Funds, Inc. announced it will hold a meeting for shareholders of the BMO Aggregate Bond Fund on Aug. 12 to vote on a proposal to approve a plan of reorganization for the fund, according to an N-14 filing with the Securities and Exchange Commission.

The proposal provides for the reorganization of the fund into the BMO TCH Core Plus Bond Fund, an existing series of the company.

The board of directors of the company has approved the reorganization, saying that it is in the best interests of shareholders to merge the funds, which have the same investment objective and similar investment strategies and policies. The acquiring fund offers a lower advisory fee and expense ratio than that of the Aggregate Bond Fund, the filing noted.

BMO Asset Management Corp., the investment adviser to both funds, has its Canadian headquarters in Toronto and U.S. headquarters in Chicago.

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