BMO AM plans to terminate three ETFs
BMO Asset Management announced Sept 30 that it plans to terminate its BMO Junior Gas Index ETF (ZJN), BMO Junior Oil Index ETF (ZJO) and BMO MSCI EAFE Value Index ETF (ZVI) on or about Dec. 15, 2020.
BMO AM says that as manager of the fund, pursuant to the declaration of trust governing the funds, it may terminate the funds 60 days after notice to unitholders.
As of Sept. 30, no further direct subscriptions for units of each of the funds will be accepted. “The rights of unitholders of the funds to exchange or redeem units of the funds will cease as of the termination date. All units of the funds held by investors after such date will be subject to a mandatory redemption…,” stated BMO AM.
BMO AM will request that the TSX de-list units of the funds on or about Dec. 10, 2020.