BMO launches actively managed US all-cap ETF

Jun 15th, 2021 | By | Category: Equities

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BMO Global Asset Management has launched a new actively managed ETF in Canada providing exposure to US equities from across the market capitalization spectrum.

Brian Belski, Chief Investment Strategist for BMO Capital Markets

Brian Belski, Chief Investment Strategist for BMO Capital Markets.

The BMO US All Cap Equity Fund ETF (ZACE CN) has listed on Toronto Stock Exchange and comes with a management fee of 0.75%.

The fund’s management expense ratio is not expected to exceed 0.85%.

Management of the fund is led by Brian Belski, Chief Investment Strategist for BMO Capital Markets.

Belski has held several notable roles during his 25 years in the asset management industry including Chief Investment Strategist at Oppenheimer & Co and Chief US Sector Strategist at Merrill Lynch.

By harnessing BMO’s latest US strategy research, Belski will seek long-term capital growth by tactically incorporating various investment styles based on the market cycle and his own broad strategy opinions, as well as making use of fundamental analysis to identify value, consistent growth, and fundamentals-based market-timing opportunities.

As of 9 June, the fund contained 67 holdings. Over a quarter (25.6%) of the portfolio weight was allocated to stocks from the information technology sector with the next largest exposures being financials (13.9%), consumer discretionary (13.6%), health care (11.6%), and communication services (10.8%). Notable positions included Apple (4.9%), Visa (4.0%), Amazon (3.9%), Microsoft (3.9%), and Alphabet (3.0%).

Brian Belski said: “It’s an honour to have the opportunity to incorporate my team’s market research into our first ETF series. As the second half of our 20-year secular bull market thesis for US stocks begins, we believe bottom-up stock picking and active portfolio management will become an increasingly larger part of the overall equity portfolio management process and discipline.”

Mark Raes, Head of Product, BMO Global Asset Management Canada, added: “We’re pleased to be expanding our BMO U.S. All Cap Equity Fund to ETF investors. By leveraging Brian’s renowned market expertise, we’re able to offer investors a fund that captures best idea investments across the market capitalization spectrum using his latest US strategy views.”

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