BMO Asset Management Inc. announced Wednesday it is lowering its maximum annual management fee on several of its exchange-traded funds.
The maximum fee for BMO Aggregate Bond Index ETF (ZAG) and BMO Discount Bond Index ETF (ZDB) fell to 0.09 per cent from 0.2 per cent.
For BMO S&P 500 Hedged to CAD Index ETF (ZUE) and BMO S&P 500 Index ETF (ZSP), the fee declined to 0.08 per cent from 0.1 per cent.
The fee for BMO Short Corporate Bond Index ETF (ZCS) was cut to 0.1 per cent from 0.12 per cent.
"Clients are recognizing the value and liquidity of using low-cost ETFs for fixed income exposures in their portfolios," said Kevin Gopaul, BMO Asset Management Inc.'s Senior Vice President and Global Head of ETFs, in a release. "We're pleased to deliver a fee reduction of more than 50 per cent on our broad market Canadian fixed income ETFs. We also now offer the lowest cost fixed income ETFs in Canada – BMO Aggregate Bond Index ETF and BMO Discount Bond Index ETF. As well, these fee reductions will help clients by lowering ETF fees for U.S. investing. This continues our trend of delivering the best solutions for our clients, following fee reductions in 2012, 2013 and 2014."