Columbia Threadneedle Investments has completed the rebrand of the majority of BMO-branded trusts and savings accounts, after acquiring the firm last year.
The former asset management arm of BMO Financial Group was acquired by the parent company of Columbia Threadneedle, Ameriprise Financial, last year for £615mn.
From yesterday (July 4), BMO’s trusts and savings accounts are rebranded with the prefix CT.
Investment trusts rebrand
Previous investment trust name | New investment trust name | Old ticker | New ticker |
BMO Capital and Income Investment Trust PLC | CT UK Capital and Income Investment Trust PLC | BCI | CTUK |
BMO Managed Portfolio Trust PLC | CT Global Managed Portfolio Trust PLC | BMPI (Income shares) BMPG (Growth shares) | CMPI (Income shares) CMPG (Growth shares)
|
BMO Private Equity Trust PLC | CT Private Equity Trust PLC | BPET | CTPE |
BMO UK High Income Trust PLC | CT UK High Income Trust PLC | BHI (Ordinary shares) BHIB (B shares) BHIU (Units) | CHI (Ordinary shares) CHIB (B shares) CHIU (Units) |
BMO Real Estate Investments Ltd | CT Property Trust Ltd | BREI | CTPT |
BMO Global Smaller Companies Trust PLC | The Global Smaller Companies Trust PLC | BGSC | GSCT |
BMO Commercial Property Trust Ltd | Balanced Commercial Property Trust Ltd | BCPT | BCPT |
Source: Columbia Threadneedle
Head of investment trusts at Columbia Threadneedle, Marrack Tonkin, said: “Whilst there are no changes to any investment processes or managers of the investment trusts we manage, we firmly believe that the additional support and research provided through the expanded investment teams at Columbia Threadneedle will ensure we can provide even broader investment capabilities across asset classes, enabling us to continue to meet the needs of the Trusts shareholders.”
There are no changes to F&C Investment Trust PLC, TR Property Investment Trust PLC and European Assets Trust PLC.
Savings plans rebrand
Previous plan name | New plan name |
BMO Individual Savings Account (ISA) | CT Individual Savings Account (ISA) |
BMO Lifetime Individual Savings Account (LISA) | CT Lifetime Savings Account (LISA) |
BMO General Investment Account (GIA) | CT General Investment Account (GIA) |
BMO Junior Individual Savings Account (JISA) | CT Junior Individual Savings Account (JISA) |
BMO Junior Investment Account (JIA) | CT Junior Investment Account (JIA) |
BMO Child Trust Fund (CTF) | CT Child Trust Fund |
Source: Columbia Threadneedle
The all-cash transaction adds $124bn (£90bn) of assets under management in Europe, and was completed in November last year.
Columbia Threadneedle said its core business and global growth strategy would be complemented by the acquisition, which would add a "substantial" presence in the European institutional market.
BMO’s EMEA asset management business will increase Columbia Threadneedle’s assets under management to $671bn (£488bn).
Its assets in the Europe, Middle East and Africa region will be expanded to approximately 40 per cent of total assets as a result.
In the US, certain BMO asset management clients will be given the opportunity to move to Columbia Threadneedle subject to client consent.
sally.hickey@ft.com
