BMO – UPDATE TO THE FUND SUSPENSION NOTIFICATION 17:00 20-02-2020
Suspension of dealing lifted
As you will be aware, trades that you placed between 1200hrs 17th February 2020 and 0800hrs 21st February 2020 have not been accepted. During this period, dealing in the fund was formally suspended. This suspension on dealing has now been lifted and trading will be accepted from 0800 21st February 2020 .
Recognising that your circumstances may have changed in the interim period, we would request that any intended trades be re-instructed. Instructions received prior to dealing cut-off on Friday 21st February 2020, will be settled with a shortened settlement cycle of T+1. Transactions that are not resubmitted will remain rejected.
Please note that regardless of when your original trade was rejected, the redemption value of any rejected trade will be calculated based on the fund’s Valuation Point for the trading day on which it is re-instructed.
BMO – UPDATE TO THE FUND SUSPENSION NOTIFICATION 17:00 19-02-2020
An unusually large redemption request has led BMO Global Asset Management to temporarily suspend dealing in the BMO Global Equity Market Neutral V10 Fund. Whilst the Fund remains able to meet its liquidity obligations, doing so would leave remaining investors temporarily over-exposed to the underlying investment strategy. To mitigate this temporary risk, BMO GAM has taken the decision, acting in the best interests of investors, to temporarily suspend dealing in the Fund, with a view to resuming dealing from Friday, 21 February 2020.
In the interim, BMO GAM is taking various measures to mitigate any further impact for investors from this, and any further possible redemptions and, from today, has removed the Annual Management Charge (AMC) on the Fund.
See original communication below:
We have been notified by BMO that they have temporarily suspended trading in the below fund(s):
|Fund Name||ISIN||SEDOL||Effective Date||Effective Time|
|BMO Global Equity Market Neutral V10 C Acc||GB00BY7S9K74||BY7S9K7||18/02/2020||12:00|
|BMO Global Equity Market Neutral V10 3 Acc||GB00BY7S9L81||BY7S9L8||18/02/2020||12:00|
|BMO Global Equity Market Neutral V10 3 Inc||GB00BDGT6Q93||BDGT6Q9||18/02/2020||12:00|
What happens now?
Deals received for these funds from the effective date and time will be cancelled / rejected. The fund suspension will continue until further notice.
For further information please refer to the BMO website.