BMO GAM shuts ETF business in Europe

BMO closes ETF business

BMO Global Asset Management has called time on its ETF operations in Europe after just four years.

In an announcement today, BMO GAM revealed its 13-strong UCITS ETF range will close on 21 January 2020.

The firm cited low levels of assets under management (AUM) across the suite and “projected asset growth” amid the current environment as the reasons for the move.

Since entering the European ETF market in 2015, the Canadian asset manager has struggled to capture flows and currently has just €608m assets under management (AUM), according to data from Morningstar.

The ETF range included a number of corporate bond and income-focused products.

BMO GAM said in a statement: “The decision was based on a variety of factors, including the current level of assets under management and projected asset growth in the current market environment.”

The ETFs will remain open for redemption requests until 21 January 2020 when all remaining assets will be redeemed.

Closing funds
BMO BARCLAYS 1-3 YEAR GLOBAL CORPORATE BOND (GBP HEDGED) UCITS ETF
BMO BARCLAYS 3-7 YEAR GLOBAL CORPORATE BOND(GBP HEDGED) UCITS ETF
BMO BARCLAYS 7-10 YEAR GLOBAL CORPORATE BOND (GBP HEDGED) UCITS ETF
BMO BARCLAYS GLOBAL HIGH YIELD BOND (GBP HEDGED) UCITS ETF
BMO ENHANCED INCOME UK EQUITY UCITS ETF
BMO MSCI EMERGING MARKETS INCOME LEADERS UCITS ETF
BMO MSCI EUROPE EX-UK INCOME LEADERS (GBP HEDGED)  UCITS ETF
BMO MSCI EUROPE EX-UK INCOME LEADERS UCITS ETF
BMO MSCI USA INCOME LEADERS (GBP HEDGED) UCITS ETF
BMO MSCI USA INCOME LEADERS UCITS ETF
BMO MSCI UK INCOME LEADERS UCITS ETF
BMO ENHANCED INCOME EURO EQUITY UCITS ETF
BMO ENHANCED INCOME USA EQUITY UCITS ETF

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