BMO is turning over its International Equity Fund to Capital Guardian Trust Company, Los Angeles. Capital Guardian will replace Putnam Advisory Company, LLC.

Advisement of the BMO Japanese Fund will pass from JP Morgan Fleming Asset Management Group to Martin Currie, Inc., Edinburgh, Scotland. The people at Martin Currie "are considered experts at managing Japan funds," said JoAnne Hayes, a BMO spokesperson. "Their expertise in this area is particularly outstanding."

JP Morgan Fleming Asset Management Group is also being replaced as advisor to the BMO Emerging Markets Fund. The fund will be taken over by AllianceBernstein Institutional Investment Management.

The respective funds had been under Putnam and JP Morgan Fleming advisement since November 2001. The change is effective today, March 1, 2004.

Ed Legzdins, BMO president and CEO, said that members of the firm "revisit our existing relationships with partners on an ongoing basis as part of our commitment to providing clients with superior management expertise." Hayes added that BMO goes through "a very thorough selection process." She reiterated that the advisor changes were brought on only by the continuous aim of providing the best services available.

 

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