BMO ETFs marks fourth anniversary by surpassing C$11 billion AUM

Jul 1st, 2013 | By | Category: ETF and Index News

BMO Financial Group‘s exchange-traded funds (ETFs) business has enjoyed blistering growth in the four years since it was formed.

BMO ETFs marks fourth anniversary by surpassing C$11 billion AUM

BMO has surpassed C$11 billion in ETF assets under management just four years after launch.

Following its debut in June 2009, the business has grown to C$11 billion in assets under management (AUM) and 55 ETFs, offering exposure to equities, bonds and commodities.

Over the four years, the Toronto-based business has hit some impressive milestones.

Just 15 months after entering the ETF market, the business reached C$1 billion in AUM. By March 2012, less than three years of launch, AUM had surpassed C$5 billion. Now, just 15 months later, the business has crossed the $11 billion barrier.

Rajiv Silgardo, Co-CEO, BMO Global Asset Management, said: “The impressive growth of our BMO ETF assets in just four short years can largely be attributed to the experience of our team and our ability to respond quickly to key investor needs.”

He added: “We look forward to building on our success by continuing to develop thoughtful, effective and innovative ETFs that provide investors with unbiased exposure to various sectors and indexes. ETFs are increasingly capturing the attention of Canadians and our goal is to continue to be a leader in this space.”

The success of BMO mirrors, in part, the growth of the ETF industry in Canada. As of year end, the industry had approximately C$56.4 billion in AUM, an increase of 33% over 2011, representing a five-year compound annual growth rate of 25.5%.

However, with the Canadian industry still in the early stages of development, many analysts are predicting great potential for further expansion in 2013 and beyond. The key to this continued growth will be developing new uses for ETFs and expanding the user base.

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