XML 212 R412.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GREAT-WEST FUNDS INC
Prospectus Date rr_ProspectusDate Apr. 30, 2018
Great-West Templeton Global Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks current income with capital appreciation and growth of income.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table does not reflect the fees and expenses of any Permitted Account. If the fees and expenses imposed by a Permitted Account were reflected, the fees and expenses shown below would be higher.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2019
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays 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. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s turnover rate was 55% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 55.00%
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Other Expenses are estimated for Class L shares because the class has not yet commenced operations.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example does not reflect the fees and expenses of any Permitted Account. If the fees and expenses of any Permitted Account were reflected, the fees and expenses in the Example would be higher.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and applies whether you hold or redeem all of your shares at the end of each period. The Example also assumes that the expense reimbursement is in place for the first year, that your investment has a 5% return each year, that all dividends and capital gains are reinvested, and that the Fund’s operating expenses are the amount shown in the fee table and remain the same for the years shown. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The following is a summary of the principal investment strategies of the Fund:

The Fund will, under normal circumstances, invest at least 80% of its net assets in bonds issued by governments and government agencies located around the world. Bonds include debt securities of any maturity, such as bonds, notes, bills and debentures, including inflation-indexed securities. Under normal circumstances, the Fund will invest at least 40% of its net assets in non-U.S. issuers. The Fund focuses on bonds rated investment grade or the unrated equivalent as determined by the Sub-Adviser, but may invest up to 25% of its total assets in below investment grade bonds (“high yield-high risk” or “junk” bonds). The Fund may invest without limit in developing markets.

For purposes of pursuing its investment goals, the Fund regularly uses various currency-related transactions involving derivative instruments, principally currency and cross currency forwards, but may also use currency and currency index futures. The Fund maintains significant positions in currency-related derivative instruments as a hedging technique or to implement a currency investment strategy, which could expose a large amount of the Fund’s assets to obligations under the instruments. The Fund may also enter into various other transactions involving derivatives, including interest rate/bond futures and interest rate swap agreements. These derivative positions may be used for hedging purposes, to enhance returns, or to obtain net long or net negative (short) exposures to selected currencies, interest rates, countries or durations.

The portfolio managers allocate the Fund’s assets based upon their assessment of changing market, political and economic conditions. They will consider various factors, including evaluation of interest and currency exchange rate changes and credit risks.
Risk [Heading] rr_RiskHeading Principal Investment Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The following is a summary of the principal investment risks of investing in the Fund:

Credit Risk - An issuer may default on its obligations to pay principal and/or interest. A security’s value may be affected by changes in its credit quality rating or its issuer’s financial conditions.

Currency Management Strategies Risk - Currency management strategies may substantially change the Fund’s exposure to currency exchange rates and could result in losses to the Fund if currencies do not perform as the portfolio managers expect. In addition, currency management strategies, to the extent that they reduce the Fund’s exposure to currency risks, may also reduce the Fund’s ability to benefit from favorable changes in currency exchange rates.

Currency Risk - Adverse fluctuations in exchange rates between the U.S. Dollar and other currencies may cause the Fund to lose money on investments denominated in foreign currencies. Currency risk is especially high in emerging markets.

Derivatives Risk - The Fund may invest in derivative instruments, including but not limited to, currency and cross currency forwards, currency and currency index forwards, interest rate/bond futures and interest rate swap agreements. Using derivatives can disproportionately increase losses and reduce opportunities for gains when stock prices, currency rates or interest rates are changing. The Fund may not fully benefit from or may lose money on derivatives if changes in their value do not correspond accurately to changes in the value of the Fund’s holdings. The other parties to certain derivative contracts present the same types of credit risk as issuers of fixed income securities. Derivatives can also make a fund less liquid and harder to value, especially in declining markets, and may increase the Fund’s volatility. There can be no assurance that the Fund’s use of derivative contracts will work as intended, and it is possible for the Fund to lose more than its original investment.

Developing and Emerging Markets Risk – Securities of issuers located in emerging markets may be substantially more volatile, and substantially less liquid, than the securities of issuers located in more developed foreign markets. Emerging market countries may experience higher inflation, interest rates and unemployment, greater social, economic, regulatory and political uncertainties, and greater volatility in currency exchange rates than more developed countries.

Foreign Securities Risk - Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, currency valuation or economic developments.

Geographic Concentration Risk - Geographic concentration risk is the risk that economic, political and social conditions in a single country, a limited number of countries or a particular geographic region in which the Fund focuses its investments will have a significant impact on the performance of the Fund.

High Yield Securities Risk - Below investment grade (“high yield-high risk” or “junk”) bonds have a higher degree of credit risk and interest rate risk and may be less liquid and subject to greater volatility in market value than investment grade bonds.

Inflation-Indexed Securities - Inflation-indexed securities have a tendency to react to changes in real interest rates. Real interest rates represent nominal (stated) interest rates lowered by the anticipated effect of inflation. In general, the price of an inflation-indexed security can decrease when real interest rates increase, and can increase when real interest rates decrease. Interest payments on inflation-indexed securities will fluctuate as the principal and/or interest is adjusted for inflation and can be unpredictable.

Interest Rate Risk - The market value of a fixed income security is affected significantly by changes in interest rates. When interest rates rise, the market value of fixed income securities generally declines and when interest rates decline, market values of such securities generally rise. The longer a security’s maturity, that is, the time remaining until the final payment on the security is due, the greater the risk and the higher its yield. Conversely, the shorter a security’s maturity, the lower the risk and the lower its yield. In general, the longer the maturity or duration of a security, the greater its sensitivity to changes in interest rates. Recent and potential future changes in monetary policy may affect the level of interest rates.

Liquidity Risk - The fixed income securities in which the Fund invests may be less readily marketable and may be subject to greater fluctuation in price than other securities. When there is little or no active trading market for specific types of securities, it can become more difficult to sell the securities at or near their perceived value. In such a market, the value of such securities and the Fund’s share price may fall dramatically. Extraordinary and sudden changes in interest rates could disrupt the market for fixed-income securities and result in fluctuations in the Fund’s net asset value. Increased redemptions due to a rise in interest rates may require the Fund to liquidate its holdings at an unfavorable time and/or under adverse or disadvantageous conditions which may negatively affect the Fund. Investments in many, but not all, foreign securities tend to have greater exposure to liquidity risk than domestic securities.

Management Risk - A strategy used by the portfolio managers may fail to produce the intended results.

Market Risk - The market values of securities owned by the Fund will go up and down, sometimes rapidly or unpredictably. A security's market value may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all securities. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Non-Diversification Risk - The Fund is classified as non-diversified, which means a relatively high percentage of its assets may be invested in securities of a limited number of issuers, including issuers primarily within the same industry or economic sector.

Sovereign Debt Securities Risk - Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a governmental entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due because of cash flow problems, insufficient foreign reserves, the relative size of the debt service burden to the economy as a whole, the government's policy towards principal international lenders such as the International Monetary Fund, or the political situations to which the government may be subject. If a sovereign debtor defaults (or threatens to default) on its sovereign debt obligations, the indebtedness may be restructured. Some sovereign debtors in the past have been able to restructure their debt payments without the approval of some or all debt holders or to declare moritoria on payments. In the event of a default on sovereign debt, the Fund may also have limited legal recourse against the defaulting government entity.

Treasury Inflation Protected Securities (TIPS) Risk - Inflation-protected bonds typically have lower yields than conventional fixed-rate bonds. While TIPS may provide investors with a hedge against inflation, in the event of deflation, in which prices decline over time, the principal and income of inflation-protected bonds would likely decline in price, resulting in losses to the Fund.

An investment in the Fund is not a deposit with a bank, is not insured, endorsed or guaranteed by the FDIC or any government agency, and is subject to the possible loss of your original investment.
Risk Lose Money [Text] rr_RiskLoseMoney is subject to the possible loss of your original investment.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Non-Diversification Risk - The Fund is classified as non-diversified, which means a relatively high percentage of its assets may be invested in securities of a limited number of issuers, including issuers primarily within the same industry or economic sector.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit with a bank, is not insured, endorsed or guaranteed by the FDIC or any government agency,
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risk of investment in the Fund by showing changes in the performance of the Fund’s Investor Class shares for the last ten calendar years and by comparing the Fund’s Institutional Class and Investor Class average annual total return to the performance of a broad-based securities market index. No Class L share performance data is provided because Class L shares have not commenced operations. Class L share performance information will appear in future versions of this Prospectus after Class L shares have annual returns for at least one complete calendar year. The returns shown below are historical and are not an indication of future performance. Total return figures assume reinvestment of dividends and capital gains distributions and include the effect of the Fund’s recurring expenses, but do not include fees and expenses of any Permitted Account. If those fees and expenses were reflected, the performance shown would have been lower.

Updated performance information may be obtained at www.greatwestfunds.com (the website does not form a part of this Prospectus).
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risk of investment in the Fund by showing changes in the performance of the Fund’s Investor Class shares for the last ten calendar years and by comparing the Fund’s Institutional Class and Investor Class average annual total return to the performance of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess No Class L share performance data is provided because Class L shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.greatwestfunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The returns shown below are historical and are not an indication of future performance.
Bar Chart [Heading] rr_BarChartHeading Calendar Year Total Returns
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Total return figures assume reinvestment of dividends and capital gains distributions and include the effect of the Fund’s recurring expenses, but do not include fees and expenses of any Permitted Account. If those fees and expenses were reflected, the performance shown would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
  Quarter Ended Total Return
Best Quarter March 2008 8.12%
Worst Quarter September 2011 -7.99%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for the Periods Ended December 31, 2017
Great-West Templeton Global Bond Fund | Institutional Class  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.58%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Services Fees rr_Component1OtherExpensesOverAssets none
Other Expenses rr_Component2OtherExpensesOverAssets 0.15% [1]
Total Other Expenses rr_OtherExpensesOverAssets 0.15%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.73%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.07% [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.66%
1 Year rr_ExpenseExampleYear01 $ 67
3 Years rr_ExpenseExampleYear03 226
5 Years rr_ExpenseExampleYear05 399
10 Years rr_ExpenseExampleYear10 900
1 Year rr_ExpenseExampleNoRedemptionYear01 67
3 Years rr_ExpenseExampleNoRedemptionYear03 226
5 Years rr_ExpenseExampleNoRedemptionYear05 399
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 900
One Year rr_AverageAnnualReturnYear01 2.47%
Five Years rr_AverageAnnualReturnYear05
Since Inception rr_AverageAnnualReturnSinceInception (0.01%) [3]
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 2015
Great-West Templeton Global Bond Fund | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.58%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Services Fees rr_Component1OtherExpensesOverAssets 0.35%
Other Expenses rr_Component2OtherExpensesOverAssets 0.21% [1]
Total Other Expenses rr_OtherExpensesOverAssets 0.56%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.14%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.13% [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.01%
1 Year rr_ExpenseExampleYear01 $ 103
3 Years rr_ExpenseExampleYear03 349
5 Years rr_ExpenseExampleYear05 615
10 Years rr_ExpenseExampleYear10 1,374
1 Year rr_ExpenseExampleNoRedemptionYear01 103
3 Years rr_ExpenseExampleNoRedemptionYear03 349
5 Years rr_ExpenseExampleNoRedemptionYear05 615
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,374
2008 rr_AnnualReturn2008 4.45%
2009 rr_AnnualReturn2009 14.71%
2010 rr_AnnualReturn2010 10.92%
2011 rr_AnnualReturn2011 (1.63%)
2012 rr_AnnualReturn2012 14.76%
2013 rr_AnnualReturn2013 0.55%
2014 rr_AnnualReturn2014 0.15%
2015 rr_AnnualReturn2015 (4.19%)
2016 rr_AnnualReturn2016 2.97%
2017 rr_AnnualReturn2017 1.95%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 8.12%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (7.99%)
One Year rr_AverageAnnualReturnYear01 1.95%
Five Years rr_AverageAnnualReturnYear05 0.26%
Ten Years rr_AverageAnnualReturnYear10 4.27%
Great-West Templeton Global Bond Fund | Class L  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.58%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder Services Fees rr_Component1OtherExpensesOverAssets 0.35%
Other Expenses rr_Component2OtherExpensesOverAssets 0.21% [1]
Total Other Expenses rr_OtherExpensesOverAssets 0.56%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.39%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.13% [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.26%
1 Year rr_ExpenseExampleYear01 $ 128
3 Years rr_ExpenseExampleYear03 427
5 Years rr_ExpenseExampleYear05 748
10 Years rr_ExpenseExampleYear10 1,657
1 Year rr_ExpenseExampleNoRedemptionYear01 128
3 Years rr_ExpenseExampleNoRedemptionYear03 427
5 Years rr_ExpenseExampleNoRedemptionYear05 748
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,657
Great-West Templeton Global Bond Fund | Citigroup World Government Bond Index (reflects no deduction for fees, expenses or taxes) | Institutional Class  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 7.49%
Five Years rr_AverageAnnualReturnYear05
Since Inception rr_AverageAnnualReturnSinceInception 2.51% [3]
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 2015
Great-West Templeton Global Bond Fund | Citigroup World Government Bond Index (reflects no deduction for fees, expenses or taxes) | Investor Class  
Risk/Return: rr_RiskReturnAbstract  
One Year rr_AverageAnnualReturnYear01 7.49%
Five Years rr_AverageAnnualReturnYear05 0.12%
Ten Years rr_AverageAnnualReturnYear10 2.67%
[1] Other Expenses are estimated for Class L shares because the class has not yet commenced operations.
[2] GWCM has contractually agreed to waive fees or reimburse expenses that exceed 0.66% of the Fund's average daily net assets attributable to each Class, excluding Distribution and Service (12b-1) Fees, Shareholder Services Fees, brokerage expenses, taxes, dividend interest on short sales, interest expenses, and any extraordinary expenses, including litigation costs (the “Expense Limit”). The agreement’s current term ends on April 30, 2019 and automatically renews for one-year terms unless it is terminated by Great-West Funds or GWCM upon written notice within 90 days of the end of the current term or upon termination of the investment advisory agreement. Under the agreement, GWCM may recoup, subject to Board approval, these waivers and reimbursements in future periods, not exceeding three years following the particular waiver/reimbursement, provided Total Annual Fund Operating Expenses of a Class plus such recoupment do not exceed the lesser of the Expense Limit that was in place at the time of the waiver/reimbursement or the Expense Limit in place at the time of recoupment.
[3] Since inception on May 1, 2015