Welcome to the Open Outcry, a term used to describe the frenetic discourse of the trading floor. We aren’t exchanging securities, but dealing in ideas on markets, economies and the intersection of the two in a world where trade, geopolitics and the investment climate are in flux. Brought to you by BMO Global Asset Management.
Site
RSS
Apple
Classements récents
Dernières positions dans les classements Apple Podcasts et Spotify.
Liens partagés entre épisodes et podcasts
Liens présents dans les descriptions d'épisodes et autres podcasts les utilisant également.
Découvrez des podcasts liées à The Open Outcry. Explorez des podcasts avec des thèmes, sujets, et formats similaires. Ces similarités sont calculées grâce à des données tangibles, pas d'extrapolations !
E1 – Burning Questions Ahead of U.S. Tariff Deadline
mercredi 26 mars 2025 • Durée 25:48
Volatile markets have greeted the tariff regime the Trump Administration appears intent on enacting. Ahead of a key April 2nd deadline for a wave of U.S. reciprocal trade levies to be imposed, Chris Krueger, Managing Director, Washington Research Group, TD Cowen and host Bipan Rai, BMO ETFs Strategist, discuss some of the pressing questions that investors, policymakers and markets are seeking clarity on. This episode was recorded live on March 23, 2025.
Disclaimers:
The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.
This podcast is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
E4 – Why Cracks Are Widening in US Dollar Dominance
mercredi 23 avril 2025 • Durée 13:01
A volatile U.S. dollar amid broader trade uncertainty has many Canadian investors questioning whether to add or pare their FX hedges. Bipan Rai, managing director of ETF and structured solutions strategy at BMO ETFs, provides a brief history of the dollar’s evolution as the global reserve currency, and his view on where the greenback goes from here. This episode was recorded live on April 22, 2025.
The Bretton Woods system: an international monetary system established in 1944 based on a fixed exchange rate regime where currencies were pegged to the U.S. dollar, which was itself pegged to gold.
Debt ceiling: describes in general the upper limit set on the amount of money that a government may borrow.
The Great Depression: a severe global economic downturn that lasted from 1929 to 1939.
U.S. reserve currency usage information, Bloomberg/BMO Global Asset Management, as of April 30, 2025.
Disclaimers:
The viewpoints expressed by the speaker represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus.
E3 – How Canada Should Handle Trump’s Tariff Shock
mercredi 16 avril 2025 • Durée 21:11
Tariff risk is a significant challenge for the Canadian economy—but it’s certainly not the only one confronting policy makers and the private sector. Benjamin Tal, deputy chief economist for CIBC joins Bipan Rai, director of ETF strategy at BMO ETFs to discuss how to handle Trump’s tariff shock, as well as other economic risk factors facing Canada. This episode was recorded live on April 10, 2025.
Disclaimers:
The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
E2 – Understanding the Gold Market
mercredi 9 avril 2025 • Durée 26:14
Gold prices have skyrocketed as investors both big and small have poured into the precious metal seeking its relative stability amid ongoing trade uncertainty and market risks. Daniel Ghali, director, commodities strategy at TD Securities joins Bipan Rai, director of ETF strategy for BMO ETFs to discuss who’s behind gold’s big moves and where prices could go as the year progresses. This episode was recorded live on April 8, 2025.
Intrinsic value: the real value of an asset based on fundamental factors, as opposed to the price assigned by the market.
Spot price: the current market price at which an asset, such as a security, commodity, or currency, can be bought or sold for immediate delivery.
Yield curve: a line that plots the yields, or interest rates, of bonds that have equal credit quality but different maturity dates.
PBOC: The People’s Bank of China, the central bank for China.
Disclaimers:
The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus.
E5 – New Liberal Government Confronts Rising Recession Risk in Canada
mercredi 30 avril 2025 • Durée 22:46
A post-election special from BMO ETFs and alternatives strategist Bipan Rai and guest Ali Jaffery, executive director and senior economist at CIBC. Housing, infrastructure and defence spending are top priorities for the newly elected Liberal government. However, the pair discuss how rising trade and recession risks could upend that agenda and force new stimulus measures instead. This podcast was recorded live on April 29, 2025.
*Nominal GDP measures the total value of goods and services produced in an economy using current prices, while real GDP adjusts for inflation, using constant-dollar prices.
*The USMCA stands for the United States-Mexico-Canada Agreement.
Disclaimers:
The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus.
The ETF referred to herein is not sponsored, endorsed, or promoted by MSCI and MSCI bears no liability with respect to the ETF or any index on which such ETF is based. The ETF’s prospectus contains a more detailed description of the limited relationship MSCI has with the Manager and any related ETF.
E6 – A Guide to Hedge Fund Investing
vendredi 9 mai 2025 • Durée 25:37
Bipan Rai is joined by Alex Singh, alternatives partnerships lead for BMO Global Asset Management to discuss the benefits of hedge funds in an overall portfolio, as well as talk about the new partnership between BMO GAM and Goldman Sachs Asset Management to launch a multi-strategy fund for Canadian investors. Note: the investment product mentioned in this podcast is only available to BMO Nesbitt Burns and BMO Private Investment Counsel advisors to date. This podcast was recorded live on May 1, 2025.
BMO Alternative Investments are generally available only to Canadian residents that qualify under the “accredited investor” exemption, under National Instrument 45-106 Prospectus Exemptions (“NI 45-106”) or, if resident in Ontario, section 73.3 of the Securities Act (Ontario) (the “OSA”).
Please refer to NI 45-106 or the OSA for more information regarding the availability of this exemption.
Alpha: A measure of performance often considered the active return on an investment. It gauges the performance of an investment against a market index or benchmark ,
Beta: A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole.
Correlation: A statistical measure of how two securities move in relation to one another.
Volatility: Measures how much the price of a security, derivative, or index fluctuates.Disclaimers:
Goldman Sachs and its affiliates are not in any way responsible for the accuracy, completeness or adequacy of the information contained herein, other than any information provided by the Investment Manager specifically for inclusion in this presentation, (ii) the fund described herein is not in any way affiliated with Goldman Sachs or its affiliates; (iii) Goldman Sachs and its affiliates are not directly or indirectly involved in management, marketing or distribution of the fund described herein; (iv) each potential investor understands that such potential investor is not a direct investor in a Goldman Sachs fund, has no privity of contract with Goldman Sachs or its affiliates and will not have recourse against Goldman Sachs or its affiliates with respect to its investment in the fund described herein.BMO Global Asset Management (BMO GAM) is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. “BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under license. Certain of the products and services offered under the brand name, BMO Global Asset Management, are designed specifically for various categories of investors in Canada and may not be available to all investors. Past performance is no guarantee of future results. Certain statements included in this material constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions. The forward-looking statements are not historical facts but reflect BMO GAM’s current expectations regarding future results or events.. Although BMO GAM believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance.
E41 – Talking Europe, the UK and Japan with Jennifer Lee
mercredi 22 juillet 2026 • Durée 28:55
Europe’s geopolitical wake-up calls are multiplying, but so are the reasons for cautious optimism. Jennifer Lee, senior economist at BMO Capital Markets, joins Bipan Rai to unpack Europe’s new spending regime, central-bank divergence, Japan’s weak yen and the global signals investors should watch next. This podcast was recorded on July 21, 2026.
Disclaimers:
This podcast is for informational or educational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. or BMO Asset Management Inc. (collectively, BMO Global Asset Management, or BMO GAM).
The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information provided herein does not constitute a solicitation of an offer to buy, or an offer to sell securities nor should the information be relied upon as investment advice. Past performance is no guarantee of future results.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.
E40 – Framing the Bank of Canada
mercredi 8 juillet 2026 • Durée 31:08
Canada’s data is improving, but the outlook remains anything but clear. Jason Daw, head of North American rates strategy for RBC Capital Markets, joins Bipan to discuss what choppy growth, sticky policy uncertainty and a structurally stronger U.S. economy mean for the Bank of Canada, the Fed and cross-market rates. This podcast was recorded on July 7, 2026.
Disclaimers:
This podcast is for informational or educational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. or BMO Asset Management Inc. (collectively, BMO Global Asset Management, or BMO GAM).
The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information provided herein does not constitute a solicitation of an offer to buy, or an offer to sell securities nor should the information be relied upon as investment advice. Past performance is no guarantee of future results.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.
E31 – Where Oil, Gas & Gold Prices Could Go from Here
vendredi 6 mars 2026 • Durée 22:26
After a muted initial reaction to the U.S.-Israel strikes on Iran and risk that the conflict may rapidly widen, energy markets have started pricing in darker scenarios. In this episode, Bipan is joined by TD Securities commodities strategist Daniel Ghali, where the pair discuss the extent to which crude prices may rise further, as well as implications for the broader global commodities complex. This episode was recorded live on March 4, 2026.
Disclaimers:
This podcast is for informational or educational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. or BMO Asset Management Inc. (collectively, BMO GAM).
The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information provided herein does not constitute a solicitation of an offer to buy, or an offer to sell securities nor should the information be relied upon as investment advice. Past performance is no guarantee of future results.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.
E30 – The State of the US Market: Fed Policy, AI, and the Dollar
vendredi 20 février 2026 • Durée 16:52
With the US market continuing to draw investor attention, Bipan surveys the current state of play, covering what thelatest US data means for Fed policy and positioning, why AI's productivity gains may benefit a narrow set of market participants rather than the broader economy, and where he sees hedging opportunities in the US dollar moving forward. This podcast was recorded live on February 18, 2026.
This podcast is for informational or educational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means,electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. or BMO Asset Management Inc. (collectively, BMO GAM).
The information contained herein is not, and should not beconstrued as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information provided herein does not constitute a solicitation of an offer to buy, or an offer to sell securities nor shouldthe information be relied upon as investment advice. Past performance is no guarantee of future results.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.
This podcast is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.
This podcast is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.
This podcast is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.
This podcast is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Prospective investors should consider the risks described in the confidential offering memorandum (OM) of the Fund before purchasing units of the Fund. Any or all of these risks, or other as yet unidentified risks, may have a material adverse effect on the Fund’s business and/or the return to investors.
Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund or ETF before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund or ETF before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund or ETF before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.
BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors shouldcarefully consider the areas of risk described in the most recent prospectus.
Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund or ETF before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are notguaranteed and are subject to change and/or elimination.
BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.
BMO Mutual Funds are managed by BMO Investments Inc., an investment fund manager, and a separate legal entity from Bank of Montreal.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
