BMO Global Asset Management has reduced fees on the ETFs in its Income Leaders and corporate bond ranges, with cuts of up to 43%.
As a result of "economies of scale", the ongoing charges figures (OCFs) have been reduced by as much as 43% in the corporate bond range.
The OCFs on the three BMO Barclays Global Corporate Bond ETFs, which offer exposure to investment grade corporate bond ETFs, have been reduced from 30bps to 17bps.
In the five-strong Income Leaders range, which includes UK, Europe and US funds, OCFs have been reduced from 35-40bps to 25-30bps.
These ETFs are designed to offer sustainable income and capital growth opportunities in a risk-controlled framework.
Both UCITS ranges were launched by the firm in November 2015, as the first in a passive push by the company following its acquisition by Bank of Montreal.
Kevin Gopaul, head of quantitative strategies and ETFs at BMO GAM, said: "As our ETF business has continued to grow globally, we have been able to build economies of scale, which means we are now in a position to pass even further cost savings onto our clients."
Rob Thorpe, head of distribution, intermediary, UK at BMO GAM, said: "We are always listening to clients and are acutely aware that cost is a real focus for many. As such, through offering our innovative ETFs at this reduced rate, we are able to offer even better value for money in the ETF space."
Purchased for undisclosed sum
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