Dow Jones Indexes has announced that the Canadian dollar-hedged version of the Dow Jones Developed Markets ex-North America Index and Dow Jones Emerging Markets Total Stock Market Specialty Index have been licensed to BMO Financial Group in connection with the BMO Exchange Traded Funds (ETFs).
The new BMO ETFs are available on the Toronto Stock Exchange and will be managed and administered by Jones Heward Investment Counsel, a wholly-owned indirect subsidiary of Bank of Montreal.
The Dow Jones Developed Markets ex-North America Index measures the performance of companies in 23 countries classified as developed economies, excluding the US and Canada. The Dow Jones Emerging Markets Total Stock Market Specialty Index seeks to capture the performance of equities with readily available prices in 43 emerging market countries, including Cyprus, Malta, Slovenia, South Korea and Taiwan.
The Dow Jones Developed Markets ex-North America Index belongs to the Dow Jones Global Indexes while the Dow Jones Emerging Markets Total Stock Market Specialty Index belongs to the Dow Jones Total Stock Market family of benchmarks. Both indexes reflect approximately 95% of the float-adjusted market capitalization of each country.
Michael Petronella, president, Dow Jones Indexes, said: “As the global economic recovery continues, market participants are seeking reliable and transparent indexes to underlie their passive investment options. Based on the broad and trusted Dow Jones Emerging Markets Total Stock Market Specialty Index and Dow Jones Developed Markets ex-North America Index, the two ETFs by BMO Financial Group will give Canadian investors exposure to international stocks in either developed or emerging economies outside of North America.”
