Each of the mergers will be effected on a tax-deferred basis, effective after the close of business on or about July 3, 2020. The Terminating Funds will be wound up as soon as reasonably possible following their respective merger.
The Independent Review Committee of the Terminating Funds and the Continuing Funds has reviewed the potential conflict of interest matters related to each of the proposed mergers and has approved these mergers after having determined that the proposed mergers, if implemented, would achieve a fair and reasonable result for each of these funds.
BMO LifeStage Plus 2020 Fund is designed to pay investors the Guaranteed Maturity Amount1 at its target end date as long as it is not redeemed prior to its June 30, 2020 target end date. Unitholders of each series of BMO LifeStage Plus 2020 Fund will receive units, on a dollar-for-dollar basis, of BMO Money Market Fund (either Advisor Series, Series A or Series M if a unitholder held $150,000 or more in the BMO LifeStage Plus 2020 Fund).
Unitholders of each series of BMO Target Education 2020 Portfolio will receive units, on a dollar-for-dollar basis, of the equivalent series of units of BMO Target Education Income Portfolio.
BMO LifeStage Plus 2020 Fund has been closed to all new purchases effective November 25, 2008. Purchases of, and switches into, units of BMO Target Education 2020 Portfolio, including under any pre-authorized contribution plan, will be suspended at the close of business on May 8, 2020.