BMO Covered Call Dow Jones Industrial Average Hedged to CAD

BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF
Receives Exemption 
TORONTO, ONTARIO -- (Marketwire) -- 12/31/12 -- BMO today announced
that the BMO Covered Call Dow Jones Industrial Average Hedged to CAD
ETF (the BMO ETF) intends to commence investing in reliance on
exemptive relief recently granted by the Ontario Securities
Commission. This will provide the BMO ETF with the flexibility to
manage its portfolio in a manner that is more consistent with the
make-up of the Dow Jones Industrial Average, while still pursuing its
covered call option writing strategy in seeking to earn option
premiums and mitigate downside risk.  
The relief has been granted from the concentration restriction in
subsection 2.1(1) of National Instrument 81-102 Mutual Funds, subject
to certain conditions and as described in the BMO ETF's prospectus,
such that its investment in a constituent issuer of the Dow Jones
Industrial Average may exceed 10% of the BMO ETF's net asset value,
limited only by that issuer's weight in the Dow Jones Industrial
Average. 
A prospectus amendment has been filed to reflect the grant of this
relief and to clarify the BMO ETF's objective, highlighting that it
will primarily invest in and hold securities of the issuers included
in the Dow Jones Industrial Average in the proportions in which they
are reflected in the Dow Jones Industrial Average. In addition, the
BMO ETF will continue, depending on market volatility and other
factors, to write covered call options on some, none or all of these
securities.  
Because the BMO ETF, in basing its investment decisions on the Dow
Jones Industrial Average, may have more of its net asset value
invested in one or more issuers than is usually permitted for mutual
funds, the BMO ETF's portfolio may be less diversified when compared
to a less concentrated investment portfolio. Also, the net asset
value of the BMO ETF may be more volatile than that of a more
broadly-diversified portfolio and may fluctuate substantially over
short periods of time. Although a more concentrated portfolio can
sometimes result in increased liquidity risk, which may, in turn,
have an effect on the ability of a mutual fund to satisfy
redemptions, BMO Asset Management Inc. (the manager of the BMO ETF)
does not believe these risks are material for the BMO ETF. 
The Dow Jones Industrial Average was first published in 1896.
Initially comprised of 12 companies, the Dow Jones Industrial Average
has evolved into the most recognizable stock indicator in the world,
and the only index composed of companies that have sustained earnings
performance over a significant period of time. In its second century,
the Dow Jones Industrial Average is the oldest continuous barometer
of the United States stock market, and the most widely quoted
indicator of United States stock market activity. The 30 stocks now
comprising the Dow Jones Industrial Average are all leaders in their
respective industries, and their stocks are widely held by
individuals and institutional investors. The Dow Jones Industrial
Average is a price-weighted stock index, meaning that the component
stocks of the Dow Jones Industrial Average are accorded relative
importance based on their prices. In this regard, the Dow Jones
Industrial Average is unlike many other stock indices which weight
their component stocks by market capitalization (price multiplied by
shares outstanding). 
Further information about BMO ETFs can be found at www.bmo.com/etfs. 
Get the latest BMO press releases via Twitter by following @BMOmedia. 
(i)BMO ETFs are managed and administered by BMO Asset Management
Inc., a portfolio manager and investment fund manager and separate
legal entity from Bank of Montreal.  
Commissions, management fees and expenses all may be associated with
investments in exchange traded funds. Please read the prospectus
before investing. Exchange traded funds are not guaranteed, their
values change frequently and past performance may not be repeated. 
The Dow Jones Industrial Average(SM) is a product of Dow Jones Opco
LLC, a subsidiary of S&P Dow Jones Indices LLC and has been licensed
for use. "Dow Jones(R)" and "Dow Jones Industrial Average(SM)" are
service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones") and
have been licensed to Dow Jones Opco for use for certain purposes.
BMO ETFs based on Dow Jones indexes are not sponsored, endorsed, sold
or promoted by Dow Jones Opco, Dow Jones or their respective
affiliates and none of them makes any representation regarding the
advisability of investing in such product(s). 
About BMO Exchange Traded Funds (ETFs)  
Established in May 2009, BMO Financial Group's ETF business is a
leading ETF provider in Canada. Since its inception, the lineup of
BMO ETFs has grown to 48 funds and includes several industry firsts.
BMO ETFs provide Canadian investors with broader choices and greater
access to an innovative portfolio of investment products.  
About BMO Financial Group  
Established in 1817 as Bank of Montreal, BMO Financial Group is a
highly-diversified North American financial services organization.
With total assets of $525 billion as at October 31, 2012, and more
than 46,000 employees, BMO Financial Group provides a broad range of
retail banking, wealth management and investment banking products and
solutions.
Contacts:
Media Contacts:
Amanda Robinson, Toronto
416-867-3996
amanda.robinson@bmo.com 
Valerie Doucet, Montreal
514-877-8224
valerie.doucet@bmo.com 
Laurie Grant, Vancouver
604-665-7596
laurie.grant@bmo.com
 
 
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