OREANDA-NEWS. BMO Asset Management Inc. (BMO AM) today announced a change (ZPR Index Change) to the underlying index of BMO S&P/TSX Laddered Preferred Share Index ETF (Ticker: ZPR).

Currently, ZPR tracks the performance of the S&P/TSX Preferred Share Laddered Index. Effective on or about October 19, 2015, ZPR will start tracking the performance of the Solactive Canadian Preferred Share Index (Successor Index). An amendment to the offering documents of ZPR has been filed with the securities regulatory authorities, for which a receipt has been issued.

As a result of the ZPR Index Change, the current name of ZPR will change to BMO Laddered Preferred Share Index ETF.

In addition, the index provider will change to Solactive AG.The Solactive Canadian Preferred Share Index will provide investors with substantially the same exposure to the asset class to which ZPR is currently exposed. Since its creation in 2007, Solactive AG has become one of the key players in the indexing space. Solactive AG currently calculates indices for 175 clients in Europe, America and Asia with approximately USD$ 25 billion invested in products linked to its indices.

The ZPR Index Change is intended to provide investors of ZPR with substantially the same index exposure as the current index. The Successor Index aligns with the current investment objectives and strategy of ZPR. One notable but slight difference between the current index and Successor Index is the S&P/TSX Preferred Share Laddered Index is rebalanced on a quarterly basis while the Solactive Canadian Preferred Share Index is rebalanced on a monthly basis.