BMO Investments announced on Aug. 10 changes to the BMO LifeStage Plus 2030 Fund. The fund’s portfolio allocation has been changed to a "protected" asset mix, says the company.
The 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 the fund's investment strategies, this reallocation to a fixed income portfolio is intended to ensure the fund is able to pay investors the Guaranteed Maturity Amount at its target end date,” explains BMO Investments.
Due to this change, the company has reduced the management fees on Series A, Series D and Advisor Series units of the fund as indicated in the table below:
As previously announced in May, the fund is no longer available for purchase by investors, including under any pre-authorized contribution plan.
