BMO Global launches exchange-traded funds in Hong Kong

By Jennifer Chiou

New York, Nov. 6 – BMO Global Asset Management announced that BMO Financial Group has become the first Canadian bank to launch exchange-traded funds in Hong Kong.

According to a news release, the funds include the following:

• BMO Asia USD Investment Grade Bond ETF, which provides access to a portfolio of high-quality Asia bonds. It invests in high-credit-quality sovereign and corporate investment-grade bonds denominated in dollars that track the performance of the Barclays Asia USD Investment Grade Bond index;

• BMO Hong Kong Banks ETF, which provides targeted exposure to banking stocks listed on the Hong Kong Stock Exchange. It tracks the Nasdaq Hong Kong Banks index through a full replication strategy; and

• BMO Asia High Dividend ETF, which provides exposure to more than 150 high-dividend-paying companies. It seeks to track the Nasdaq Asia ex Japan Dividend Achievers index.

The BMO ETFs are managed and administered by BMO Global Asset Management (Asia) Ltd.

The funds will be listed on Nov. 13.

The company’s Hong Kong ETF team is lead by managing director Amit Prakash.

“In a low-interest-rate environment, the demand for income and growth may not be met by fixed-income investments alone," Prakash said in the release.

“Dividend-paying stocks offer a competitive yield and growth potential. Investors can capitalize on the rapid development of Asian capital markets and tap the growth story in the region.”

BMO Global Asset Management, an investment fund manager and portfolio manager and separate legal entity from the Bank of Montreal, has offices in Toronto, Chicago and elsewhere.

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