BMO Investments announced Dec. 20 that it intends to discontinue the standard deferred sales charge (DSC) purchase option for new purchases across the BMO Mutual Funds lineup as of May 4, 2018. This includes pre-authorized purchases.
The low load DSC purchase option will continue to be available to investors.
BMO Investments has not offered any new mutual funds under the standard DSC purchase option since April 2016.
“Investors with existing standard DSC purchase option holdings will remain invested based on the redemption fee schedule applicable to those securities, and switches from existing securities acquired under the standard DSC purchase option will continue to be available,” stated BMO Investments in an announcement.