TORONTO, May 17, 2024 /CNW/ - BMO Private Investment Counsel Inc. (BPIC), the manager of the BMO Private Portfolios, today announced changes to the risk ratings for certain BMO Private Portfolios.

These risk rating changes are based on the standardized risk classification methodology mandated by the Canadian Securities Administrators and an annual review conducted by BPIC to determine the risk level of the BMO Private Portfolios.

Effective immediately, the risk rating of three BMO Private Portfolios has been changed as set out in the table below. There is no change to the investment objectives, strategies or management of these BMO Private Portfolios associated with the new risk rating.

Please read the fund facts or prospectus of the relevant BMO Private Portfolios before investing. The full amount of an investment in any mutual fund is not guaranteed, the value of a mutual fund may change frequently, and its past performance may not be repeated. Distributions are not guaranteed and are subject to change and/or elimination. For a summary of the risks of an investment in the BMO Private Portfolios, please see the specific risks set out in the prospectus.

BMO Private Portfolios are managed by BMO Private Investment Counsel Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.

BMO Private Wealth is a brand name for a business group consisting of Bank of Montreal and certain of its affiliates in providing private wealth management products and services. Not all products and services are offered by all legal entities within BMO Private Wealth. Banking services are offered through Bank of Montreal. Investment management, wealth planning, tax planning and philanthropy planning services are offered through BMO Nesbitt Burns Inc. and BMO Private Investment Counsel Inc. Estate, trust, and custodial services are offered through BMO Trust Company. BMO Private Wealth legal entities do not offer tax advice.

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of January 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

"BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under license.

SOURCE BMO Financial Group