BMO Ultra Short Tax-Free is expected to merge into the newly registered Columbia Ultra Short Municipal Bond by early 2022. While there are unknown details regarding the long-term management of the fund, the incoming team at Columbia announced that the new fund will mirror the investment strategy of the merging BMO fund. That brings some short-term comfort regarding the stability of the investor experience here, yet we’ll continue to monitor developments as they emerge in the coming weeks. For now, this BMO strategy retains a Morningstar Analyst Rating of Neutral on all share classes.
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