BMO GAM to close European ETF business

Effective date 21 January 2020

In a shareholder letter, BMO GAM has announced its intention to cease management of European-domiciled ETFs due to several factors, including dwindling assets under management.

The termination is due to take place "on or about" 21 January 2020 and will see its entire range of European-domiciled ETFs closed. Lack of demand forces UBS ETF to close six share classes The decision to cease managing the funds was based on "a variety of factors, including the current levels of assets under management and projected asset growth in the current market environment", the group said. The sub-funds will remain open for redemption requests until 21 January 2020, in accordance with the terms of each conrresponding prospectus. A spokesperson for BMO GAM said: "BMO GAM ...