BMO Funds

0001193125-12-425823.txt : 20121017 0001193125-12-425823.hdr.sgml : 20121017 20121017145106 ACCESSION NUMBER: 0001193125-12-425823 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121017 DATE AS OF CHANGE: 20121017 EFFECTIVENESS DATE: 20121017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARSHALL FUNDS INC d/b/a BMO FUNDS CENTRAL INDEX KEY: 0000889366 IRS NUMBER: 251689258 STATE OF INCORPORATION: WI FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-48907 FILM NUMBER: 121148219 BUSINESS ADDRESS: STREET 1: 111 EAST KILBOURN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-287-8749 MAIL ADDRESS: STREET 1: 111 EAST KILBOURN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS INC DATE OF NAME CHANGE: 19921105 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS DATE OF NAME CHANGE: 19920708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARSHALL FUNDS INC d/b/a BMO FUNDS CENTRAL INDEX KEY: 0000889366 IRS NUMBER: 251689258 STATE OF INCORPORATION: WI FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-58433 FILM NUMBER: 121148220 BUSINESS ADDRESS: STREET 1: 111 EAST KILBOURN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-287-8749 MAIL ADDRESS: STREET 1: 111 EAST KILBOURN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS INC DATE OF NAME CHANGE: 19921105 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS DATE OF NAME CHANGE: 19920708

0000889366 S000038425 BMO Low Volatility Equity Fund

C000118492 Class Y MLVYX

C000118493 Class I MLVEX

0000889366 S000038426 BMO Short Tax-Free Fund

C000118494 Class Y MTFYX

C000118495 Class I MTFIX

0000889366 S000038427 BMO TCH Emerging Markets Bond Fund

C000118496 Class Y MEBYX

C000118497 Class I MEBIX

485BPOS 1 d362743d485bpos.htm BMO FUNDS BMO Funds

As filed with the Securities and Exchange Commission on October 17, 2012

1933 Act Registration File No. 033-48907

1940 Act File No. 811-58433

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-1A


REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933		x

Pre-Effective Amendment No.		¨

Post-Effective Amendment No. 80		x

and

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940		x

Amendment No. 80		x

MARSHALL FUNDS, INC.

(Exact Name of Registrant as Specified in Charter)

111 East Kilbourn Avenue, Suite 200

Milwaukee, Wisconsin 53202

(Address of Principal Executive Offices, including Zip Code)

Registrant’s Telephone Number, including Area Code: (800) 236-3863

John M. Blaser

111 East Kilbourn Avenue, Suite 200

Milwaukee, Wisconsin 53202

(Name and Address of Agent for Service)

Copies of all communications to:

Michael P. O’Hare, Esq.

Stradley, Ronon, Stevens & Young, LLP

2005 Market Street, Suite 2600

Philadelphia, PA 19103

It is proposed that this filing will become effective (check appropriate box)

X immediately upon filing pursuant to paragraph (b) of Rule 485

on (date) pursuant to paragraph (b) of Rule 485

60 days after filing pursuant to paragraph (a)(1) of Rule 485

on (date) pursuant to paragraph (a)(1) of Rule 485

75 days after filing pursuant to paragraph (a)(2) of Rule 485

on (date) pursuant to paragraph (a)(2) of Rule 485

If appropriate check the following box:

This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 80 to the Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized, in the City of Milwaukee and the State of Wisconsin on the 17^th day of October, 2012.


		MARSHALL FUNDS, INC.
		(Registrant)

	By:	/s/ John M. Blaser
		John M. Blaser
		President
Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 80 to the Registration Statement on Form N-1A has been signed below on October 17, 2012 by the following persons in the capacities indicated.

Signature	Title

/s/ John M. Blaser	President (principal executive officer) and
John M. Blaser	Director

/s/ Timothy M. Bonin	Treasurer (principal financial officer)
Timothy M. Bonin

*	Director
Larry D. Armel

*	Director
Ridge A. Braunschweig

**	Director
Ellen M. Costello

*	Director
Benjamin M. Cutler

*	Director
John A. Lubs

*	Director
James Mitchell

*	Director
Barbara J. Pope


*By:		/s/ John M. Blaser
		John M. Blaser
		Attorney in fact pursuant to Power of Attorney filed with Post-Effective Amendment No. 59 to the Registration Statement on Form N-1A

**By:		/s/ John M. Blaser
		John M. Blaser
		Attorney in fact pursuant to Power of Attorney filed with Post-Effective Amendment No. 72 to the Registration Statement on Form N-1A

C-1

EXHIBIT INDEX


Exhibit No.		Description

EX-101.INS		XBRL Instance Document

EX-101.SCH		XBRL Taxonomy Extension Schema Document

EX-101.CAL		XBRL Taxonomy Extension Calculation Linkbase

EX-101.DEF		XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB		XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE		XBRL Taxonomy Extension Presentation Linkbase

C-2

EX-101.INS 2 mfi2-20120928.xml XBRL INSTANCE DOCUMENT 0000889366 2011-09-29 2012-09-28 0000889366 mfi2:S000038425Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038425Member mfi2:C000118492Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038425Member mfi2:C000118493Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038426Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038426Member mfi2:C000118494Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038426Member mfi2:C000118495Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038427Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038427Member mfi2:C000118496Member 2011-09-29 2012-09-28 0000889366 mfi2:S000038427Member mfi2:C000118497Member 2011-09-29 2012-09-28 pure iso4217:USD 485BPOS 2012-09-27 MARSHALL FUNDS INC d/b/a BMO FUNDS 0000889366 false BMO Low Volatility Equity Fund  Investment Objective: To provide capital appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are as shown in the table and remain the same. The costs in the one-year example and for the first year of the three-year example reflect the Adviser’s agreement to waive fees and reimburse expenses through December 31, 2013. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover The Fund incurs transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. Principal Investment Strategies The Fund invests at least 80% of its assets in a broadly diversified portfolio of common stocks of large-sized U.S. companies similar in size to those within the Russell 1000® Index. These large-sized companies, at the time of purchase, generally have market capitalizations in the range of companies in the Russell 1000® Index. The largest company by market capitalization in the Russell 1000® Index was approximately $572.5 billion as of July 31, 2012 and the median market capitalization of companies in the Index as of the same date was approximately $5.10 billion. The Fund invests in stocks that exhibit less volatile stock price patterns when compared to stocks in the Russell 1000® Index. The Adviser selects stocks using a unique, quantitative approach. From time to time, the Fund maintains a portion of its assets in cash. The Fund may increase its cash holdings in response to market conditions or in the event attractive investment opportunities are not available. Principal Risks The Fund cannot assure that it will achieve its investment objective. An investment in the Fund is not a deposit of BMO Harris Bank N.A. or any of its affiliates and is not insured or guaranteed by the FDIC or any other government agency. The net asset value of the Fund will vary and you could lose money by investing in the Fund. In addition, the Fund is subject to the following risks. Stock Market Risks. The Fund is subject to fluctuations in the stock market, which has periods of increasing and decreasing values. Stocks are more volatile than debt securities. If the value of the Fund’s investments goes down, you may lose money. Sector Risks. Companies with similar characteristics, such as those within the same industry, may be grouped together in broad categories called sectors. To the extent the Fund invests its assets in a particular sector, the Fund’s performance may be more susceptible to any economic, business or other developments that generally affect that sector. Management Risks. The Adviser’s judgments about the attractiveness, value and potential appreciation of the Fund’s investments may prove to be incorrect. Accordingly, there is no guarantee that the investment techniques used by the Fund’s managers will produce the desired results. Cash Risks. To the extent the Fund holds cash or cash equivalents rather than securities, this could cause the Fund to not achieve its investment objective and could negatively affect the Fund’s performance. Fund Performance Performance information is not included because the Fund does not have one full calendar year of performance. 92 66 409 331 December 31, 2013 “Other Expenses” are based on estimated amounts for the Fund’s current fiscal year because it is a new fund. The net asset value of the Fund will vary and you could lose money by investing in the Fund. An investment in the Fund is not a deposit of BMO Harris Bank N.A. or any of its affiliates and is not insured or guaranteed by the FDIC or any other government agency. Performance information is not included because the Fund does not have one full calendar year of performance. <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleShareholderFeesBMOLowVolatilityEquityFund column period compact * ~</div> <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleAnnualFundOperatingExpensesBMOLowVolatilityEquityFund column period compact * ~</div> <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleExpenseExampleBMOLowVolatilityEquityFund column period compact * ~</div> 2012-09-28 2012-09-27 2012-09-27 BMO Short Tax-Free Fund Investment Objective: To provide current income that is exempt from federal income tax and is consistent with preservation of capital. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are as shown in the table and remain the same. The costs in the one-year example and for the first year of the three-year example reflect the Adviser’s agreement to waive fees and/or reimburse expenses through December 31, 2013. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover The Fund incurs transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. Principal Investment Strategies The Fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax (including the federal alternative minimum tax (AMT)). Fund investments include municipal securities with a minimum rating in the lowest investment grade category (i.e., rated BBB or Baa, or higher, or unrated and considered by the Adviser to be comparable in quality) at the time of purchase. Municipal securities include debt obligations of states, territories and possessions of the U.S. and political subdivisions and financing authorities of these entities that provide income exempt from federal income tax (including federal AMT). The Adviser selects Fund investments after assessing factors such as the cyclical trend in interest rates, the shape of the municipal yield curve, tax rates, sector valuation and municipal bond supply factors. The Fund normally maintains an average dollar-weighted effective maturity of one to three years. Effective maturity takes into account the possibility that a bond may have prepayments or may be called by the issuer before its stated maturity date. Principal Risks The Fund cannot assure that it will achieve its investment objective. An investment in the Fund is not a deposit of BMO Harris Bank N.A. or any of its affiliates and is not insured or guaranteed by the FDIC or any other government agency. The net asset value of the Fund will vary and you could lose money by investing in the Fund. In addition, the Fund is subject to the following risks. Interest Rate Risks. Prices of fixed income securities rise and fall in response to changes in the interest rate paid by similar securities. Generally, when interest rates rise, prices of fixed income securities fall. Interest rate changes have a greater effect on the price of fixed income securities with longer maturities. Credit Risks. Credit risk is the possibility that an issuer will default on a security by failing to pay interest or principal when due. If an issuer defaults, the Fund may lose money. Lower credit ratings correspond to higher credit risk. Bonds rated lower than BBB or Baa have speculative characteristics. Call Risks. If the securities in which the Fund invests are redeemed by the issuer before maturity (or “called”), the Fund may have to reinvest the proceeds in securities that pay a lower interest rate, which may decrease the Fund’s yield. This will most likely happen when interest rates are declining. Liquidity Risks. Liquidity risk refers to the possibility that the Fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, the Fund may have to accept a lower price to sell a security, sell other securities to raise cash or give up an investment opportunity, any of which could have a negative effect on the Fund’s performance. Infrequent trading of securities also may lead to an increase in their price volatility. Municipal Securities Risks. Municipal bonds are subject to risks based on many factors, including economic and regulatory developments, changes or proposed changes in the federal and state tax structure, deregulation, court rulings and other factors. The value of municipal securities may be affected more by supply and demand factors or the creditworthiness of the issuer than by market interest rates. Repayment of municipal securities depends on the ability of the issuer or project backing such securities to generate taxes or revenues. There is a risk that the interest on an otherwise tax-exempt municipal security may be subject to federal income tax. Management Risks. The Adviser’s judgments about the attractiveness, value and potential appreciation of the Fund’s investments may prove to be incorrect. Accordingly, there is no guarantee that the investment techniques used by the Fund’s managers will produce the desired results. Sector Risks. The Fund may invest its assets in municipal securities that finance similar projects, such as those relating to education, health care, transportation and utilities. To the extent the Fund invests its assets in a particular sector, the Fund’s performance may be more susceptible to any economic, business or other developments that generally affect that sector. Fund Performance Performance information is not included because the Fund does not have one full calendar year of performance. 56 41 280 211 December 31, 2013 “Other Expenses” are based on estimated amounts for the Fund’s current fiscal year because it is a new fund. The net asset value of the Fund will vary and you could lose money by investing in the Fund. The Fund cannot assure that it will achieve its investment objective. An investment in the Fund is not a deposit of BMO Harris Bank N.A. or any of its affiliates and is not insured or guaranteed by the FDIC or any other government agency. Performance information is not included because the Fund does not have one full calendar year of performance. <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleShareholderFeesBMOShortTermTaxFreeFund column period compact * ~</div> <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleAnnualFundOperatingExpensesBMOShortTermTaxFreeFund column period compact * ~</div> <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleExpenseExampleBMOShortTermTaxFreeFund column period compact * ~</div> BMO TCH Emerging Markets Bond Fund  Investment Objective: To maximize total return consistent with current income. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are as shown in the table and remain the same. The costs in the one-year example and for the first year of the three-year example reflect the Adviser’s agreement to waive fees and reimburse expenses through December 31, 2013. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover The Fund incurs transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. Principal Investment Strategies The Fund invests at least 80% of its assets in debt securities of emerging market governments or of companies located in emerging markets or whose primary business activities or principal trading markets are in emerging markets. Debt securities include sovereign debt instruments and corporate bonds. The Fund’s sub-adviser, Taplin, Canida & Habacht, LLC (TCH), an affiliate of the Adviser, considers emerging markets to be those markets in any country other than Canada, Luxembourg, the U.S., Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. TCH may make adjustments to the list of emerging markets countries from time to time based on economic criteria, market changes or other factors. Although the Fund will invest primarily in securities with a minimum rating in the lowest investment grade category (i.e., rated BBB or Baa, or higher, or unrated and considered by the sub-adviser to be comparable in quality) at the time of purchase, the Fund may invest up to 20% of its assets in debt securities that are below investment grade, also known as high yield securities or “junk bonds.” TCH uses macroeconomic, credit and market analysis to select portfolio securities. Although the Fund expects to maintain an intermediate- to long-term average effective maturity, there are no maturity restrictions on individual holdings or on the overall portfolio. Effective maturity takes into account the possibility that a bond may have prepayments or may be called by the issuer before its stated maturity date. Principal Risks The Fund cannot assure that it will achieve its investment objective. An investment in the Fund is not a deposit of BMO Harris Bank N.A. or any of its affiliates and is not insured or guaranteed by the FDIC or any other government agency. The net asset value of the Fund will vary and you could lose money by investing in the Fund. In addition, the Fund is subject to the following risks. Foreign Securities Risks. Investing in foreign securities may involve additional risks, including currency-rate fluctuations, political and economic instability, differences in financial reporting standards, less-strict regulation of the securities markets and possible imposition of foreign withholding taxes. Furthermore, the Fund may incur higher costs and expenses when making foreign investments, which will affect the Fund’s total return. Emerging Markets Risks. Investments in emerging markets can involve risks in addition to and greater than those generally associated with investing in more developed foreign markets, which may make emerging market securities more volatile and potentially less liquid than securities issued in more developed markets. Sovereign Debt Risk. Sovereign debt instruments are subject to the risk that a governmental entity may be unable to pay interest or repay principal on its sovereign debt due to cash flow problems, insufficient foreign currency reserves or political concerns. Financial markets have recently experienced increased volatility due to the uncertainty surrounding the sovereign debt of certain European countries. Interest Rate Risks. Prices of fixed income securities rise and fall in response to changes in the interest rate paid by similar securities. Generally, when interest rates rise, prices of fixed income securities fall. Interest rate changes have a greater effect on the price of fixed income securities with longer maturities. Credit Risks. Credit risk is the possibility that an issuer or counterparty will default on a security or repurchase agreement by failing to pay interest or principal when due. If an issuer defaults, the Fund may lose money. Lower credit ratings correspond to higher credit risk. Bonds rated lower than BBB or Baa have speculative characteristics. High Yield Securities Risks. High yield securities, also referred to as “junk bonds” or non-investment grade securities, are debt securities rated lower than BBB by Standard & Poor’s or Baa by Moody’s Investors Service. These securities tend to be more sensitive to economic conditions than are higher-rated securities, generally involve more credit risk than securities in the higher-rated categories and are predominantly considered to be speculative. The issuers of high yield securities are typically more leveraged, and the risk of loss due to default by an issuer of high yield securities is significantly greater than issuers of higher-rated securities because such securities are generally unsecured and are often subordinated to other creditors. The Fund may have difficulty disposing of certain high yield securities because there may be a thin trading market for such securities. Call Risks. If the securities in which the Fund invests are redeemed by the issuer before maturity (or “called”), the Fund may have to reinvest the proceeds in securities that pay a lower interest rate, which may decrease the Fund’s yield. This will most likely happen when interest rates are declining. Liquidity Risks. Liquidity risk refers to the possibility that the Fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, the Fund may have to accept a lower price to sell a security, sell other securities to raise cash or give up an investment opportunity, any of which could have a negative effect on the Fund’s performance. Infrequent trading of securities also may lead to an increase in their price volatility. Management Risks. TCH’s judgments about the attractiveness, value and potential appreciation of the Fund’s investments may prove to be incorrect. Accordingly, there is no guarantee that the investment techniques used by the Fund’s managers will produce the desired results. Fund Performance Performance information is not included because the Fund does not have one full calendar year of performance. 102 87 486 419 December 31, 2013 “Other Expenses” are based on estimated amounts for the Fund’s current fiscal year because it is a new fund. The net asset value of the Fund will vary and you could lose money by investing in the Fund. An investment in the Fund is not a deposit of BMO Harris Bank N.A. or any of its affiliates and is not insured or guaranteed by the FDIC or any other government agency. Performance information is not included because the Fund does not have one full calendar year of performance. <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleShareholderFeesBMOTCHEmergingMarketsBondFund column period compact * ~</div> <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleAnnualFundOperatingExpensesBMOTCHEmergingMarketsBondFund column period compact * ~</div> <div style="display:none">~ http://www.bmofundsus.com/role/ScheduleExpenseExampleBMOTCHEmergingMarketsBondFund column period compact * ~</div> 0 0 0.005 0.005 0 0 0.0097 0.0072 0.0147 0.0122 0.009 0.0065 -0.02 -0.02 -0.0057 -0.0057 0 0 -0.02 -0.02 0.0025 0.0025 0 0 0.0078 0.0053 0.0103 0.0078 -0.0038 -0.0048 0.0055 0.004 0 0 -0.02 -0.02 0.006 0.006 0 0 0.0119 0.0094 0.0179 0.0154 0.01 0.0085 -0.0069 -0.0079 "Other Expenses" are based on estimated amounts for the Fund's current fiscal year because it is a new fund. BMO Asset Management Corp. (Adviser) has agreed to waive or reduce its investment advisory fee and reimburse expenses to the extent necessary to prevent class total annual operating expenses (excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund's business and Acquired Fund Fees and Expenses) from exceeding 0.90% for Class Y and 0.65% for Class I through December 31, 2013. The Adviser may not terminate this arrangement prior to December 31, 2013 unless the investment advisory agreement is terminated. BMO Asset Management Corp. (Adviser) has agreed to waive or reduce its investment advisory fee or reimburse expenses to the extent necessary to prevent total annual operating expenses (excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.55% for Class Y and 0.40% for Class I through December 31, 2013. The Adviser may not terminate this arrangement prior to December 31, 2013 unless the investment advisory agreement is terminated. BMO Asset Management Corp. (Adviser) has agreed to waive or reduce its investment advisory fee and reimburse expenses to the extent necessary to prevent class total annual operating expenses (excluding interest, taxes, brokerage commissions, other investment-related costs and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund's business and Acquired Fund Fees and Expenses) from exceeding 1.00% for Class Y and 0.85% for Class I through December 31, 2013. The Adviser may not terminate this arrangement prior to December 31, 2013 unless the investment advisory agreement is terminated. 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link:calculationLink link:definitionLink 000039 - Disclosure - Risk/Return Detail Data {Elements} - BMO TCH Emerging Markets Bond Fund link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 mfi2-20120928_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 mfi2-20120928_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 mfi2-20120928_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Prospectus: Risk/Return: Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Document [Axis] Prospectus Performance Measure [Axis] Before Taxes After Taxes on Distributions and Sales After Taxes on Distributions Series [Axis] Series S000038425 [Member] BMO Low Volatility Equity Fund BMO Low Volatility Equity Fund Member Share Class [Axis] Share Classes C000118493 [Member] Class I Class I,BMO Low Volatility Equity Fund Member C000118492 [Member] Class Y Class Y,BMO Low Volatility Equity Fund Member Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Shareholder Fees: Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Redemption Fee (as a percentage of amount redeemed, for shares held less than 30 days) Redemption Fee (as a percentage of Amount Redeemed) Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses: Management Fees Management Fees (as a percentage of Assets) Distribution (12b-1) Fees Distribution and Service (12b-1) Fees Other Expenses Other Expenses (as a percentage of Assets): Total Annual Fund Operating Expenses Expenses (as a percentage of Assets) Total Annual Fund Operating Expenses Fee Waiver and Expense Reimbursement Fee Waiver or Reimbursement Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement Net Expenses (as a percentage of Assets) Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement Operating Expenses Column [Text] Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Acquired Fund Fees and Expenses Expense Example: 1 Year Expense Example, with Redemption, 1 Year 3 Years Expense Example, with Redemption, 3 Years Expense Example, By Year, Column [Text] Column Expense Example, with Redemption, 5 Years 5 Years Expense Example, with Redemption, 10 Years 10 Years Expense Example, No Redemption: Expense Example, No Redemption, By Year, Column [Text] Column Expense Example, No Redemption, 1 Year 1 Year Expense Example, No Redemption, 3 Years 3 Years Expense Example, No Redemption, 5 Years 5 Years Expense Example, No Redemption, 10 Years 10 Years Bar Chart Table: Annual Return Caption [Text] Caption Annual Return, Column [Text] Column Annual Return, Inception Date Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Average Annual Return: Label 1 Year 5 Years 10 Years Since Inception Inception Date Risk/Return Detail [Table] Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] EX-101.PRE 7 mfi2-20120928_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE