BMO takes lion’s share of Canadian ETF inflows

Jan 28th, 2013 | By | Category: ETF and Index News

BMO Asset Management led the Canadian ETF industry in new assets for the second consecutive year in 2012, attracting $5 billion in net new assets, up 130 per cent from the previous year.

BMO takes lion’s share of Canadian ETF inflows

BMO ETFs attracted $5 billion in net new assets in 2012.

Overall, BMO accounted for 40 per cent of all Canadian ETF new asset inflows for the year.

BMO S&P/TSX Capped Composite Index ETF (ZCN) topped the industry with $813 million in inflows. The fund is designed to replicate the performance of the S&P/TSX Capped Composite Index, the primary indicator for Canadian equity markets.

BMO attributed its overall success to the organisation’s ability to anticipate and address the needs of Canadian investors, by building a line-up of core ETFs based on market leading indices, thoughtful sector ETFs, and innovative specialty solution ETFs. The product suite has grown to 48 funds in under four years.

Kevin Gopaul, Senior Vice President and Chief Investment Officer at BMO Asset Management, said: “The Canadian ETF industry has seen immense growth in the past year, and we’re thrilled to have been such a big part of its success.”

He added: “We’re fortunate to have such a strong team of professionals who share a collective commitment to product innovation and also a comprehensive consideration of the use of these ETFs in portfolio construction. We’ll continue to address key investor needs and we are looking forward to an equally successful 2013.”

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