Toronto-based BMO Harris Investment Management, the investment management arm of BMO Harris Private Banking, has proposed changes to the BMO Harris Canadian Dividend Income Portfolio, the BMO Harris Opportunity Bond Portfolio and the BMO Harris Income Opportunity Bond Portfolio.
The proposals are: the BMO Harris Canadian Dividend Income Portfolio will be merged into the BMO Harris Canadian Income Equity Portfolio; the BMO Harris Opportunity Bond Portfolio be merged into the BMO Harris Canadian Total Return Bond Portfolio; the BMO Harris Income Opportunity Bond Portfolio be merged into the BMO Harris Canadian Bond Income Portfolio.
The bank said that the BMO Harris Canadian Dividend Income Portfolio does not require neither regulatory approval nor investor approval for the merger. The manager will seek regulatory approval for the proposed mergers involving the BMO Harris Opportunity Bond Portfolio and the BMO Harris Income Opportunity Bond Portfolio. In the event investor approval is also required for these proposed mergers, such approval will be sought at special meetings.
Upon the implementation of the mergers, holders of units of the BMO Harris Canadian Dividend Income Portfolio will receive units of the BMO Harris Canadian Income Equity Portfolio, holders of units of the BMO Harris Opportunity Bond Portfolio will receive units of the BMO Harris Canadian Total Return Bond Portfolio and holders of units of the BMO Harris Income Opportunity Bond Portfolio will receive units of the BMO Harris Canadian Bond Income Portfolio.
