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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.

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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.

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