BMO Readies Target-Date Funds

BMO Asset Management U.S. is furthering its reach into the retirement market.

The firm is currently prepping a slate of target-date funds to launch within the next few months. The BMO Target Retirement Funds will range from 2010 to 2050 with operating expenses ranging from 92 basis points to 157 bps. The portfolio managers are John Boritzke, Sandy Lincoln, and Alan Schwartz.

“BMO Global Asset Management is committed to introducing mutual funds that address key investor needs,” said Anna Seifert, a spokesperson for BMO. “We have an aggressive product roadmap and look forward to expanding our offerings. While we cannot comment on any specific fund offerings, we are constantly reviewing for growth opportunities now and in the future.”

Last April, Bank of Montreal Global Asset Management rebranded its recordkeeping business to BMO Retirement Services from BMO Institutional Trust Services, which was created, in part, by BMO’s acquisition of the Milwaukee-based Marshall & Ilsley Corporation in July 2011 for $4.1 billion.