Skip to main content

Bank of Montreal’s BMO Asset Management is looking to cash in on the technology sector with a newly launched exchange-traded fund that will combine some of the largest global technology stocks in the media industry. The ETF starts trading Tuesday on the Toronto Stock Exchange.

Under the ticker COMM, the BMO Global Communications Index will provide investors access to leading companies in sectors including communications equipment, gaming software, media and publishing services, telecommunications and web-based data.

With a management fee of 0.35 per cent, the fund will track the Solactive Media and Communications Index, which includes 105 global companies. Holdings include Apple Inc., Netflix Inc., Facebook Inc., Alphabet Inc., Walt Disney Co. and Time Warner Inc.

Story continues below advertisement

Kevin Gopaul, head of BMO Global Asset Management Canada, said in a statement the ETF will look at global companies that are “reshaping and driving the market through communications, technology and new media.”

This is the second technology fund for BMO. In 2010, the firm launched the BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) which has more than $628-million in assets under management and focuses on the information technology, consumer and health care sectors.

BMO is the country’s second-largest ETF provider with 74 ETF strategies in Canada and $48.4-billion in ETF assets under management, according to research by National Bank Financial.

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter