Equity market rally drives BMO Global Equity Market Neutral 2019 performance collapse

Fund 'remains viable and fully invested'

Mike Sheen
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BMO's fund performed poorly compared to peers over 2019
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BMO's fund performed poorly compared to peers over 2019

The "risk-on sentiment" seen in equity markets in 2019 led to a collapse in the performance of BMO Global Asset Management's Global Equity Market Neutral fund, which saw calendar year losses of losses of 30.1%, the firm has said.

The systematic long/short fund performed poorly compared to peers over 2019, with its IA Targeted Absolute Return sector averaging a 4.4% positive return, according to FE Fundinfo. The second and third worst performers within the sector - Merian Global Equity Absolute Return and Quilter Investors Global Equity Absolute Return - lost 13.2% and 13% respectively. The absolute return sector comeback? In two of the three calendar years prior to 2019, the BMO fund delivered positive returns, with gains of 9.5% and 2.2% in 2017 and 2016 respectively, and a loss of 2% in 2018. Its 2019 per...

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