BMO Investments today announced changes to the BMO Ascent Portfolios, including management fee reductions and major hikes in the minimum initial investment amount and the minimum balance required.

The portfolios include BMO Ascent Income Portfolio, BMO Ascent Conservative Portfolio, BMO Ascent Balanced Portfolio, BMO Ascent Growth Portfolio and BMO Ascent Equity Growth Portfolio.

“Effective immediately, the management fee applicable to Series A securities of each fund is reduced from 1.50% to 1.40% and the management fee applicable to Series F securities of each Fund is reduced from 0.75% to 0.65%,” stated BMO Investments in an announcement issued Aug. 30.

Also effective immediately, BMO Investments has increased the minimum initial investment amount in a fund from $25,000 to $75,000. In addition, the minimum balance for maintaining an investment in a fund has been increased from $20,000 to $60,000.