CHICAGO, Nov. 29, 2012 /PRNewswire/ -- BMO Global Asset Management announced today the addition of the BMO Short Tax-Free Fund (MTFYX, MTFIX). By primarily investing in municipal bonds, the Fund will seek to provide current income exempt from federal income tax consistent with the preservation of capital. It will typically maintain a dollar weighted effective maturity between one and three years. The benchmark for the Fund will be the Barclays Municipal Short (1-5 Year) Index.
The BMO Short Tax-Free Fund will be managed by the same investment team – and with a parallel philosophy and process – as the BMO Ultra Short Tax-Free (MUYSX, MUISX) and Intermediate Tax-Free Funds (MITFX, MIITX). The BMO Intermediate Tax-Free Fund received the 2012 Lipper Fund Award for best risk-adjusted performance over five years among 125 Intermediate Municipal Debt Funds.
"Our clients, and prospective clients, are looking for yield curve opportunities in the municipal markets, opportunities that offer optimal tax solutions," said Barry S. McInerney, Co-Chief Executive Officer, BMO Global Asset Management. "This new fund adds to the diverse stable of funds we offer, ensuring a wide selection of choices, depending on a client's risk tolerance."
Continuing the growth of the BMO Funds family, the new BMO Short Tax-Free Fund adds to an already impressive suite of investment options from BMO Global Asset Management. This marks the sixth new fund the firm has launched over the past 12 months, bringing the current total to 24. BMO Funds offers actively managed mutual funds across the risk/reward spectrum – funds that are designed to be the building blocks of a well-diversified portfolio."With the addition of the BMO Short Tax-Free Fund to the BMO Funds Tax-Free suite, an investor can set up a liquidity tiering strategy to help create a more effective fixed income portfolio," said Duane McAllister, co-Portfolio Manager. "By allocating their assets into four distinct segments based on their short and intermediate-term requirement, an investor is able to increase the overall return while maintaining a measure of stability and liquidity." Most recently, the BMO Low Volatility Equity Fund (MLVYX, MLVEX) was launched in October. It is designed to provide investors with long-term returns similar to U.S. large cap stocks, but with less volatility. The Fund seeks capital appreciation by investing in stocks of large-sized U.S. companies similar in size to those within the Russell 1000 ® Index. In January, the organization introduced four additional funds: the BMO Pyrford Global Strategic Return Fund (MGRYX, MGRNX), BMO Pyrford International Stock Fund (MISYX, MISNX), BMO Monegy High Yield Bond Fund (MHBYX, MHBNX) and BMO Dividend Income Fund (MDIYX, MDIVX).
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV