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BMO Insurance adds to its seg fund lineup

By The IJ Staff | June 01 2020 12:31PM

BMO Insurance announced June 1 that it will add new investment options, guarantee options and no-load sales charge options to its lineup of guaranteed investment fund (GIF) segregated funds.

The two new funds, include the BMO Concentrated Global Equity GIF and the BMO Concentrated Global Balanced GIF.  The funds focus on stocks with higher and more sustainable earnings. The global equity GIF invests directly in the BMO Concentrated Global Equity Fund, a mutual fund which invests in 20-25 high quality, long-term growth companies. The balanced GIF pairs this performance with fixed income investing as well. Management expense ratios, depending on the fund class and guarantee selected, range from 1.88 per cent to 3.29 per cent for the global equity GIF, or from 1.5 per cent to 3.25 per cent for the balanced GIF.

BMO Insurance’s GIF 75/100 Plus product, meanwhile, will extend the 100 per cent death benefit guarantee on deposits from age 80 to age 85. The company says it is also introducing a new no-load sales charge options for clients who wish to access their funds at any time, without incurring surrender charges.

 
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