BMO Investments Inc. Announces Termination of ETF Funds

BMO Investments Inc. Updates on ETF Fund Terminations

BMO Investments Inc. ("BMOII") has recently concluded the final net asset values concerning its ETF Series for various mutual funds. This includes the BMO ARK Genomic Revolution Fund (Cboe Canada: ARKG), BMO ARK Innovation Fund (Cboe Canada: ARKK), and BMO ARK Next Generation Internet Fund (Cboe Canada: ARKW). Each of these funds had previously undergone termination.

Details on Fund Terminations

Earlier in the year, BMOII made an announcement about the upcoming termination of these funds. The process concluded effectively at the close of business, marking the end of an era for these widely recognized funds. The final trading of units was executed on the last working day of the termination date, specifically prior to July 11, 2025.

Redemption Process for Investors

As part of the termination protocol, all units of the ETF Series for each fund that were outstanding at the time were redeemed. Consequently, all holders of these units received proceeds that reflected the current net asset value. However, it's noteworthy that there were no final distributions for these funds as they concluded operations.

Understanding Valuations and NAVs

To clarify the situation further, the net asset value (NAV) per unit at the time of each fund’s termination was established. The NAV is crucial for determining the value of an investment and serves as a valuation tool for both the funds and investors.

Investment Considerations Going Forward

Investing in ETF Series of mutual funds involves various factors including commissions and management fees. It is essential for potential investors to educate themselves by reviewing the ETF Facts or the simplified prospectus of the applicable mutual funds prior to making any investment decisions. Although these funds trade like stocks, their values are subject to fluctuations which can pose a risk for loss.

Information about BMO Financial Group

BMO Financial Group is a prominent player in the banking sector, being the seventh largest bank in North America by assets. With substantial assets estimated at $1.4 trillion, BMO has been serving customers for over 200 years. They provide a range of services, including personal and commercial banking solutions, which cater to around 13 million customers in diverse locations. BMO's mission focuses on fostering positive change within the economy and promoting inclusivity.

Frequently Asked Questions

What are the terminated BMO funds?

The terminated BMO funds include the ARK Genomic Revolution Fund, ARK Innovation Fund, and ARK Next Generation Internet Fund.

What is NAV?

The net asset value (NAV) represents the per-unit value of a fund's assets minus its liabilities.

Will investors receive any final distributions?

No, there were no final distributions provided to investors upon the termination of these funds.

How is BMO Financial Group positioned in the banking sector?

BMO Financial Group ranks as the seventh largest bank in North America, with extensive assets and a long history of service.

What should investors consider before investing in mutual funds?

Investors should consider fees, market value fluctuations, and the importance of reading the fund's prospectus before investment.

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