XML 11 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType Other
Document Period End Date dei_DocumentPeriodEndDate Aug. 31, 2011
Registrant Name dei_EntityRegistrantName MARSHALL FUNDS INC d/b/a BMO FUNDS
Central Index Key dei_EntityCentralIndexKey 0000889366
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Feb. 16, 2012
Document Effective Date dei_DocumentEffectiveDate Feb. 16, 2012
Prospectus Date rr_ProspectusDate Dec. 29, 2011
Supplement [Text Block] mfi889366_SupplementTextBlock

BMO FUNDS

Supplement dated February 16, 2012 to Prospectus dated December 29, 2011

Effective February 17, 2012, the following replaces certain information in the Prospectus:

Elimination of Redemption Fee for BMO Ultra Short Tax-Free Fund

Effective immediately, with respect to the BMO Ultra Short Tax-Free Fund, the 2.00% redemption fee relating to redemptions or exchanges of shares of the Fund held less than 30 days after the purchase of such shares is eliminated. Accordingly, the Prospectus is revised as described below:

The table under “Fund Summary — BMO Ultra Short Tax-Free Fund — Fees and Expenses of the Fund” is replaced with the following:

 

   Class Y  Class I 

Shareholder Fees (fees paid directly from your investment)

   

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

   None    None  

Redemption Fee (as a percentage of amount redeemed, for shares held less than 30 days)

   None    None  

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

   

Management Fees

   0.20  0.20

Distribution (12b-1) Fees

   None    None  

Other Expenses(1)

   0.45  0.20

Acquired Fund Fees and Expenses(2)

   0.01  0.01

Total Annual Fund Operating Expenses

   0.66  0.41

Fee Waiver and Expense Reimbursement(3)

   0.10  0.10

Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement(3)

   0.56  0.31

 

 

(1)The expense information in the fee table has been restated to reflect that effective September 1, 2011, the Fund entered into a new transfer agency agreement.

 

(2)Acquired Fund Fees and Expenses represent the pro rata expense indirectly incurred by the Fund as a result of its investment in other investment companies (each, an “Acquired Fund”). Total Annual Fund Operating Expenses shown will not correlate to the Fund’s ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.

 

(3)M&I Investment 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 0.55% for Class Y and 0.30% for Class I through July 6, 2013. The Adviser may not terminate this arrangement prior to July 6, 2013 unless the investment advisory agreement is terminated.
BMO Ultra Short Tax-Free Fund
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] mfi889366_SupplementTextBlock

BMO FUNDS

Supplement dated February 16, 2012 to Prospectus dated December 29, 2011

Effective February 17, 2012, the following replaces certain information in the Prospectus:

Elimination of Redemption Fee for BMO Ultra Short Tax-Free Fund

Effective immediately, with respect to the BMO Ultra Short Tax-Free Fund, the 2.00% redemption fee relating to redemptions or exchanges of shares of the Fund held less than 30 days after the purchase of such shares is eliminated. Accordingly, the Prospectus is revised as described below:

The table under “Fund Summary — BMO Ultra Short Tax-Free Fund — Fees and Expenses of the Fund” is replaced with the following:

 

   Class Y  Class I 

Shareholder Fees (fees paid directly from your investment)

   

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)

   None    None  

Redemption Fee (as a percentage of amount redeemed, for shares held less than 30 days)

   None    None  

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

   

Management Fees

   0.20  0.20

Distribution (12b-1) Fees

   None    None  

Other Expenses(1)

   0.45  0.20

Acquired Fund Fees and Expenses(2)

   0.01  0.01

Total Annual Fund Operating Expenses

   0.66  0.41

Fee Waiver and Expense Reimbursement(3)

   0.10  0.10

Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement(3)

   0.56  0.31

 

 

(1)The expense information in the fee table has been restated to reflect that effective September 1, 2011, the Fund entered into a new transfer agency agreement.

 

(2)Acquired Fund Fees and Expenses represent the pro rata expense indirectly incurred by the Fund as a result of its investment in other investment companies (each, an “Acquired Fund”). Total Annual Fund Operating Expenses shown will not correlate to the Fund’s ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.

 

(3)M&I Investment 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 0.55% for Class Y and 0.30% for Class I through July 6, 2013. The Adviser may not terminate this arrangement prior to July 6, 2013 unless the investment advisory agreement is terminated.
Shareholder Fees: rr_ShareholderFeesAbstract  
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses: rr_OperatingExpensesAbstract  
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 July 6, 2013
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The expense information in the fee table has been restated to reflect that effective September 1, 2011, the Fund entered into a new transfer agency agreement.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses shown will not correlate to the Fund’s ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.
BMO Ultra Short Tax-Free Fund | Class Y
 
Shareholder Fees: rr_ShareholderFeesAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee (as a percentage of amount redeemed, for shares held less than 30 days) rr_RedemptionFeeOverRedemption none
Operating Expenses: rr_OperatingExpensesAbstract  
Management Fees rr_ManagementFeesOverAssets 0.20%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.45% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.66%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.10% [3]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.56% [3]
BMO Ultra Short Tax-Free Fund | Class I
 
Shareholder Fees: rr_ShareholderFeesAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee (as a percentage of amount redeemed, for shares held less than 30 days) rr_RedemptionFeeOverRedemption none
Operating Expenses: rr_OperatingExpensesAbstract  
Management Fees rr_ManagementFeesOverAssets 0.20%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.20% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.41%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.10% [3]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.31% [3]
[1] The expense information in the fee table has been restated to reflect that effective September 1, 2011, the Fund entered into a new transfer agency agreement.
[2] Acquired Fund Fees and Expenses represent the pro rata expense indirectly incurred by the Fund as a result of its investment in other investment companies (each, an "Acquired Fund"). Total Annual Fund Operating Expenses shown will not correlate to the Fund's ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.
[3] M&I Investment 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 0.55% for Class Y and 0.30% for Class I through July 6, 2013. The Adviser may not terminate this arrangement prior to July 6, 2013 unless the investment advisory agreement is terminated.