{"id":15840,"date":"2019-06-30T02:47:20","date_gmt":"2019-06-30T06:47:20","guid":{"rendered":"https:\/\/insurance-journal.ca\/article\/bmo-winds-up-several-funds\/"},"modified":"2019-06-30T02:47:20","modified_gmt":"2019-06-30T06:47:20","slug":"bmo-winds-up-several-funds","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/06\/30\/bmo-winds-up-several-funds\/","title":{"rendered":"BMO winds up several funds"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"http:\/\/insurance-journal.ca\/media\/photologue\/photos\/photo_web_2812.png\" class=\"ff-og-image-inserted\"><\/div>\n<p><strong>BMO Nesbitt Burns <\/strong>announced on June 27 that a number of funds will be wound up.<\/p>\n<p>These funds are: BMO Advantaged Equal Weight Banks TACTIC&#x2122; Fund; BMO Advantaged Equal Weight Oil &amp; Gas TACTIC&#x2122; Fund; BMO Advantaged Laddered Preferred Share TACTIC&#x2122; Fund and BMO Advantaged S&amp;P\/TSX Capped Composite TACTIC&#x2122; Fund.<\/p>\n<p>The funds will be terminated on September 27, 2019 or as soon as practicable after this date, says the company which <a href=\"https:\/\/insurance-journal.ca\/article\/bmo-nesbitt-burns-suspends-distribution-of-some-funds-while-it-assesses-impact-of-proposed-tax-changes\/\">announced on March 20, 2019<\/a> that these funds would be impacted by certain amendments to the <em>Income Tax Act <\/em>proposed by the Minister of Finance in the Federal Budget on March 19, 2019.&nbsp;<\/p>\n<p>\u201cAs a result of the proposed changes to the Tax Act, the Manager believes that it is no longer commercially feasible to continue the Funds and that it is in the best interests of shareholders of each of the Funds to terminate the Funds,\u201d stated the company.<\/p>\n<h5>FinTech Sector fund will also be wound up<\/h5>\n<p>In a separate statement issued on the same day, BMO Nesbitt Burns also announced the termination of the BMO FinTech Sector TACTIC&#x2122; Fund on September 27, 2019 or as soon as practicable after that date.<\/p>\n<p> <a href=\"https:\/\/insurance-journal.ca\/article\/bmo-winds-up-several-funds\/\">Read the original article at insurance-journal.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BMO Nesbitt Burns announced on June 27 that a number of funds will be wound up. These funds are: BMO Advantaged Equal Weight Banks TACTIC&#x2122; Fund; BMO Advantaged Equal Weight Oil &amp; Gas TACTIC&#x2122;&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15840"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=15840"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15840\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=15840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=15840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=15840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}