BMO to Close European ETFs

Intense competition in the passive investing space forces the hand of Montreal-based asset manager, some of whose ETFs are positively rated by Morningstar

James Gard 27 November, 2019 | 4:29PM

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Canada’s BMO is to close down its European ETF range next year, in a further sign of the intense competition in the the passive fund industry.

One of the largest ETFs to be affected by assets under management is the BMO Bloomberg Barclays 1-3 Year Global Corporate Bond, with assets over £140 million, ongoing charges of 0.17% and a 1-star rating from Morningstar. It has significantly underperformed its benchmark and category in the four years since launch, according to Morningstar data. A global high-yield bond fund with similar AUM will also be closed next year.

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James Gard  is content editor for Morningstar.co.uk

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