Latest news with #BipanRai
Cision Canada
27-05-2025
- Business
- Cision Canada
BMO Expands Suite of Physical Gold ETFs with New and Innovative Covered Call Spread Gold Bullion ETF Français
BMO gives investors another way to gain exposure to gold, with the added benefit of monthly cashflow TORONTO, May 27, 2025 /CNW/ - BMO Asset Management Inc. the manager of the BMO ETFs, today announced the launch of the new BMO Covered Call Spread Gold Bullion ETF (ZWGD). BMO Covered Call Spread Gold Bullion ETF seeks to provide long-term capital appreciation through exposure to the price of gold bullion, net of fees and expenses, by investing directly or indirectly in long-term holdings of unencumbered gold bullion, while mitigating some downside risk through the use of a covered call spread strategy. The new BMO ETF offers investors another way to invest in precious metals and complements BMO's innovative line-up of physical gold ETFs, which includes: BMO Gold Bullion ETF (ZGLD/ZGLD.U) BMO Gold Bullion Hedged to CAD ETF (ZGLH) "The new BMO Covered Call Spread Gold Bullion ETF is an example of the innovative products BMO GAM is bringing to investors, offering exposure to physical gold while at the same time providing a stream of cashflow," said Bipan Rai, Managing Director, Head of ETF & Structured Solutions Strategy, BMO Global Asset Management. "For investors seeking exposure to gold, this ETF is a new strategy for them to consider and may have a place within their portfolio." BMO Covered Call Spread Gold Bullion ETF has closed its initial offering of units and is listed and trading on the Toronto Stock Exchange. Advantages of Investing in Gold* Exposure to physical gold can be a good portfolio building block, as historically, precious metals tend to have a lower correlation to traditional asset classes like stocks and bonds and offers investors an effective way to diversify their portfolio. Gold has historically provided positive rates of return in rising/high inflation market conditions. Gold has long been classified as a safe haven asset during periods of economic uncertainty. * Past performance is not a guarantee of future performance. For more information, please visit Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or the simplified prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently, and past performance may not be repeated. This communication is for information purposes only. The information contained herein is not, and should not be construed as investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated, and professional advice should be obtained with respect to any circumstance. Distributions are not guaranteed and are subject to change and/or elimination. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the simplified prospectus. Exchange-traded funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
Yahoo
27-05-2025
- Business
- Yahoo
BMO Expands Suite of Physical Gold ETFs with New and Innovative Covered Call Spread Gold Bullion ETF
BMO gives investors another way to gain exposure to gold, with the added benefit of monthly cashflow TORONTO, May 27, 2025 /CNW/ - BMO Asset Management Inc. the manager of the BMO ETFs, today announced the launch of the new BMO Covered Call Spread Gold Bullion ETF (ZWGD). BMO Covered Call Spread Gold Bullion ETF seeks to provide long-term capital appreciation through exposure to the price of gold bullion, net of fees and expenses, by investing directly or indirectly in long-term holdings of unencumbered gold bullion, while mitigating some downside risk through the use of a covered call spread strategy. The new BMO ETF offers investors another way to invest in precious metals and complements BMO's innovative line-up of physical gold ETFs, which includes: BMO Gold Bullion ETF (ZGLD/ZGLD.U) BMO Gold Bullion Hedged to CAD ETF (ZGLH) "The new BMO Covered Call Spread Gold Bullion ETF is an example of the innovative products BMO GAM is bringing to investors, offering exposure to physical gold while at the same time providing a stream of cashflow," said Bipan Rai, Managing Director, Head of ETF & Structured Solutions Strategy, BMO Global Asset Management. "For investors seeking exposure to gold, this ETF is a new strategy for them to consider and may have a place within their portfolio." BMO Covered Call Spread Gold Bullion ETF has closed its initial offering of units and is listed and trading on the Toronto Stock Exchange. Advantages of Investing in Gold* Exposure to physical gold can be a good portfolio building block, as historically, precious metals tend to have a lower correlation to traditional asset classes like stocks and bonds and offers investors an effective way to diversify their portfolio. Gold has historically provided positive rates of return in rising/high inflation market conditions. Gold has long been classified as a safe haven asset during periods of economic uncertainty. * Past performance is not a guarantee of future performance. For more information, please visit Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or the simplified prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently, and past performance may not be repeated. This communication is for information purposes only. The information contained herein is not, and should not be construed as investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated, and professional advice should be obtained with respect to any circumstance. Distributions are not guaranteed and are subject to change and/or elimination. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the simplified prospectus. Exchange-traded funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. SOURCE BMO Financial Group View original content:
Reuters
04-04-2025
- Business
- Reuters
Canadian dollar pares weekly gain as jobs data lifts rate cut bets
Summary Canadian dollar falls 0.7% against the greenback Economy sheds 33,000 in March Oil extends selloff; tumbles 7.5% 10-year yield hits a near two-year low TORONTO, April 4 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday, giving back some of its weekly gain, as oil prices tumbled and domestic data showed the global trade war beginning to hurt the labour market. The loonie was trading 0.7% lower at 1.4195 per U.S. dollar, or 70.45 U.S. cents, after trading in a range of 1.4054 to 1.4242. It touched on Thursday its strongest intraday level since December 6 at 1.4025 as Canada avoided fresh tariffs on its goods. For the week, the loonie was up 0.9%. Canadian employment fell by 33,000 in March, the first decrease in more than three years, and the unemployment rate edged up to 6.7% as the uncertainty around trade tariffs took a toll on hiring. "It does feel like that we should see the labour sector come under a bit more strain in the coming months and that might require a bit more action from the Bank of Canada than the market was expecting," said Bipan Rai, head of ETF and structured solutions strategy at BMO Global Asset Management. Investors see a 65% chance the Bank of Canada would continue its interest rate cutting campaign at a policy decision on April 16, up from 50% before the data. The price of oil, one of Canada's major exports, tumbled 7.5% to $61.93 a barrel, adding to its steep decline the day before, as China hit back in an escalating global trade war with the United States. Any currency tied to oil "should feel some of that pain," Rai said. U.S. jobs data showed some resilience, which helped the greenback claw back some of its recent declines against a basket of major currencies. The Canadian 10-year yield was down 10 basis points at 2.829%, after earlier touching its lowest level since May 2023 at 2.783%.
Reuters
12-03-2025
- Business
- Reuters
Canadian dollar gains after 'balanced' BoC policy statement
TORONTO, March 12 (Reuters) - The Canadian dollar edged up against its U.S. counterpart on Wednesday as the Bank of Canada cut interest rates as expected but stopped short of signaling additional easing, and after Canada announced retaliatory tariffs on the United States. The loonie was trading 0.2% higher at 1.44 per U.S. dollar, or 69.44 U.S. cents, after trading in a range of 1.4371 to 1.4484. The Bank of Canada trimmed its key interest rate by 25 basis points to 2.75% and warned of "a new crisis" as it tried to prepare the country's economy for the damage that President Donald Trump's tariffs could wreak. Still, the central bank said it would "proceed carefully with any further changes" to rates given the need to assess both the upward pressures on inflation from higher costs and the downward pressures from weaker demand. "It was a pretty balanced statement from the Bank of Canada," said Bipan Rai, head of ETF and structured solutions strategy at BMO Global Asset Management. "It's a more deliberate approach that doesn't really tell us anything new in terms of directionality for the Canadian dollar in the short term." Investors see chances of another rate cut in April at less than 50%. Trump's increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade in favor of the U.S. and drawing swift retaliation from Canada and Europe. Canada, the biggest foreign supplier of steel and aluminum to the United States, announced 25% retaliatory tariffs on U.S. goods worth C$29.8 billion in total. The price of oil, one of Canada's major exports, rose for a second-straight day, advancing 2.2% to $67.70 a barrel. Canadian bond yields moved higher across the curve. The 10-year was up 2.2 basis points at 3.030%.
Reuters
12-02-2025
- Business
- Reuters
Canadian dollar steadies near 8-week high as tariff risk lingers
TORONTO, Feb 12 (Reuters) - The Canadian dollar steadied against its U.S. counterpart on Wednesday, with the currency unable to sustain a move out of its recent trading range as the Bank of Canada worried about the economic impact of a trade war. The loonie was trading nearly unchanged at 1.4284 per U.S. dollar, or 70.01 U.S. cents, after touching its strongest intraday level since Dec. 17 at 1.4256. "We are all sitting on pins and needles at this point and waiting to see what comes at the end of the moratorium on tariffs and to see whether or not the actions taken by Canada to address all the U.S. concerns with respect to the northern border have been enough," said Bipan Rai, head of ETF and structured solutions strategy at BMO Global Asset Management. "Until we get there, I suspect the dollar-CAD is going to be in this holding pattern." U.S. President Donald Trump has delayed a 25% tariff on goods from Mexico and Canada for a month until March 4 to allow negotiations over steps to secure U.S. borders and halt the flow of the drug fentanyl. The Trump administration will announce reciprocal tariffs on every country that charges duties on U.S. imports by Thursday, the White House said, a move that will ratchet up fears of a widening global trade war. The Bank of Canada's governing council felt that a protracted trade conflict with the U.S. would permanently shrink the level of domestic GDP, the minutes of a policy decision meeting showed. Canada sends about 75% of its exports to the United States, including oil , which settled 2.7% lower at $71.37 a barrel. The Canadian 10-year was up 8.3 basis points at 3.181%, tracking moves in U.S. Treasuries after data showed that U.S. consumer prices increased by the most in nearly 1-1/2 years in January.
