BMO Global Asset Management has one more milestone to help establish its presence in the U.S.
The Toronto-based company announced today that its U.S. mutual fund family has surpassed $10 billion in assets under management. The business grew by 19.4% last year through Dec. 31, 2012, making it the 23rd fastest growing mutual fund business in the U.S., according to a BMO press release.
BMO Funds offers a global family of 24 actively managed mutual funds that include domestic and international equity funds, taxable and tax-free fixed income funds, emerging market equity and money market funds. They are managed by teams based in Chicago and Milwaukee and a number of global boutique managers including London-based Pyrford International and Lloyd George Management in Hong Kong.
BMO Funds is advised by BMO Asset Management U.S., which oversees more than $50 billion in assets under management as of Oct. 31, 2012.