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iso4217:USD 429 777 510 644 635 501 419 768 599 464 382 732 612 477 745 396 587 452 721 370 2015-09-30 2015-09-30 2015-09-30 2015-09-30 2015-09-30 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleShareholderFees000422 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleShareholderFees000432 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleShareholderFees000392 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleShareholderFees000412 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleShareholderFees000402 column period compact * ~</div> Example Example Example Example Example 644 510 777 429 419 768 635 501 587 452 721 370 612 477 745 396 599 464 732 382 www.bmofunds.com www.bmofunds.com www.bmofunds.com www.bmofunds.com www.bmofunds.com 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 Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 20% of the average value of its portfolio. 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 Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 44% of the average value of its portfolio. 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 Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 29% of the average value of its portfolio. 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 Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 30% of the average value of its portfolio. 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 Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 39% of the average value of its portfolio. -0.0555 -0.0602 -0.0213 -0.0332 -0.0441 BMO Balanced Allocation Fund BMO Moderate Allocation Fund BMO Growth Allocation Fund BMO Aggressive Allocation Fund FUND SUMMARY BMO Conservative Allocation Fund <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualFundOperatingExpenses000423 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualFundOperatingExpenses000433 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualFundOperatingExpenses000393 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualFundOperatingExpenses000413 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualFundOperatingExpenses000403 column period compact * ~</div> Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 97 72 122 56 101 76 126 60 97 72 122 56 91 65 116 50 91 65 116 50 Total Annual Fund Operating Expenses shown will not correlate to the Funds ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses. Total Annual Fund Operating Expenses shown will not correlate to the Funds ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses. Total Annual Fund Operating Expenses shown will not correlate to the Funds ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses. Total Annual Fund Operating Expenses shown will not correlate to the Funds ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses. Total Annual Fund Operating Expenses shown will not correlate to the Funds ratios of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses. 1994-07-31 1994-07-31 1994-07-31 1994-07-31 1994-07-31 For the period January 1, 2015 through September 30, 2015, the total return for the Class I shares of the Fund was (5.55)%. During the periods shown in the bar chart for the Fund:<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="right">Quarter Ended</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="right">Returns</td> <td valign="bottom"> </td></tr> <tr> <td valign="top">Best quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9/30/2009</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">15.97 </td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top">Worst quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12/31/2008</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(19.02)</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> For the period January 1, 2015 through September 30, 2015, the total return for the Class I shares of the Fund was (6.02)%. During the periods shown in the bar chart for the Fund:<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="right">Quarter Ended</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="right">Returns</td> <td valign="bottom"> </td></tr> <tr> <td valign="top">Best quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9/30/2009</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">17.74</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top">Worst quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12/31/2008</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(22.56)</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> For the period January 1, 2015 through September 30, 2015, the total return for the Class I shares of the Fund was (2.13)%. During the periods shown in the bar chart for the Fund:<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="right">Quarter Ended</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="right">Returns</td> <td valign="bottom"> </td></tr> <tr> <td valign="top">Best quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6/30/2009</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9.22 </td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top">Worst quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9/30/2008</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(5.56)</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> For the period January 1, 2015 through September 30, 2015, the total return for the Class I shares of the Fund was (3.32)%. During the periods shown in the bar chart for the Fund:<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="right">Quarter Ended</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="right">Returns</td> <td valign="bottom"> </td></tr> <tr> <td valign="top">Best quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">6/30/2009</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">11.41</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top">Worst quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12/31/2008</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(9.39)</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> For the period January 1, 2015 through September 30, 2015, the total return for the Class I shares of the Fund was (4.41)%. During the periods shown in the bar chart for the Fund:<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="right">Quarter Ended</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="right">Returns</td> <td valign="bottom"> </td></tr> <tr> <td valign="top">Best quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">9/30/2009</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">13.62</td> <td valign="bottom" nowrap="nowrap">% </td></tr> <tr> <td valign="top">Worst quarter</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">12/31/2008</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(14.17)</td> <td valign="bottom" nowrap="nowrap">% </td></tr></table> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Investment Objective: Investment Objective: Fees and Expenses of the Fund Fees and Expenses of the Fund 0 0.005 0 0 0 0 0.005 0 0.0109 0.0084 0.0134 0.0069 0.0116 0.0091 0.0141 0.0076 -0.0014 -0.0014 -0.0014 -0.0014 -0.0027 -0.0027 -0.0027 -0.0027 Investment Objective: Investment Objective: Fees and Expenses of the Fund Fees and Expenses of the Fund 0 0 0 0.005 0 0 0.005 0 0.0122 0.0097 0.0147 0.0082 0.0119 0.0094 0.0144 0.0079 -0.0027 -0.0027 -0.0027 -0.0027 -0.002 -0.002 -0.002 -0.002 December 31, 2016 December 31, 2016 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, whether you redeem all of your shares at the end of those periods or not. The example also assumes that your investment has a 5% return each year and that the Funds 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-, five-, and ten-year examples reflect the Advisers agreement to waive fees and reimburse expenses through December 31, 2016. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 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, whether you redeem all of your shares at the end of those periods or not. The example also assumes that your investment has a 5% return each year and that the Funds 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-, five-, and ten-year examples reflect the Advisers agreement to waive fees and reimburse expenses through December 31, 2016. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 360 282 438 235 358 280 436 232 Portfolio Turnover Portfolio Turnover Principal Investment Strategies Principal Investment Strategies The Fund invests primarily in shares of other mutual funds, including affiliated and unaffiliated funds (underlying funds), according to an asset allocation strategy developed by the Adviser. The Fund may invest in different combinations and weightings of affiliated and unaffiliated funds without limit. The Fund normally targets an allocation of approximately 20% of its total assets in funds that invest principally in fixed income securities and 80% of its total assets in funds that invest principally in equity securities. Under normal market conditions the Fund allocates its assets among the underlying funds based on asset allocation target ranges of 10-30% of its total assets in funds that invest principally in fixed income securities and 70-90% of its total assets in funds that invest principally in equity securities. Equity securities in which the underlying funds may invest may be of any market capitalization and include common stock, preferred stock, depositary receipts, rights and warrants, and exchange-traded funds. The underlying funds may also invest in fixed income securities, including corporate bonds and government, mortgage-backed and asset-backed securities, and convertible securities (fixed income securities convertible into shares of common or preferred stock). The Fund also may allocate assets to underlying funds that invest in cash, cash equivalents, and other short-term fixed income instruments, including money market funds. While the Fund will invest primarily in underlying funds that invest in U.S. securities, some underlying funds may invest in foreign securities, including emerging markets. The Fund is one of the BMO Target Risk Funds. The target investment allocation for each of the Target Risk Funds, based on each Funds total assets, is set forth below. <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="44%"></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td></tr> <tr> <td valign="bottom">BMO Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Equity</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Fixed Income</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Money Market Funds</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Conservative Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">70% - 100%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid ">Moderate Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Balanced Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid ">Growth Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">70% - 90%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Aggressive Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">90% - 100%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> </table> The Adviser will continuously monitor the Fund and may make modifications to either the investment approach or the underlying fund allocations that the Adviser believes could benefit shareholders. The Adviser will also monitor the underlying funds on an ongoing basis and may increase or decrease the Funds investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the funds investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process. The underlying funds invest their assets directly in equity, fixed income, derivatives, cash, and cash equivalents (including money market funds) in accordance with their own investment objectives and policies. Although the Fund intends to invest primarily in a combination of underlying funds, the Fund may invest directly in equity and fixed income securities and money market securities. The Fund invests primarily in shares of other mutual funds, including affiliated and unaffiliated funds (underlying funds), according to an asset allocation strategy developed by the Adviser. The Fund may invest in different combinations and weightings of affiliated and unaffiliated funds without limit. The Fund normally targets an allocation of approximately 100% of its total assets in funds that invest principally in equity securities, and will invest at least 80% of its assets in funds that invest principally in common or preferred stocks. Under normal market conditions the Fund allocates its assets among the underlying funds based on asset allocation target ranges of 0-10% of its total assets in funds that invest principally in money market funds and 90-100% of its total assets in funds that invest principally in equity securities. Equity securities in which the underlying funds may invest may be of any market capitalization and include common stock, preferred stock, depositary receipts, rights and warrants, and exchange-traded funds. The Fund also may allocate assets to underlying funds that invest in cash, cash equivalents, convertible securities (fixed income securities convertible into shares of common or preferred stock), and other short-term fixed income instruments, including money market funds. While the Fund will invest primarily in underlying funds that invest in U.S. securities, some underlying funds may invest in foreign securities, including emerging markets. The Fund is one of the BMO Target Risk Funds. The target investment allocation for each of the Target Risk Funds, based on each Funds total assets, is set forth below. <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="44%"></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td></tr> <tr> <td valign="bottom">BMO Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Equity</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Fixed Income</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Money Market Funds</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Conservative Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">70% - 100%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid ">Moderate Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Balanced Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid ">Growth Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">70% - 90%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Aggressive Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">90% - 100%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> </table> The Adviser will continuously monitor the Fund and may make modifications to either the investment approach or the underlying fund allocations that the Adviser believes could benefit shareholders. The Adviser will also monitor the underlying funds on an ongoing basis and may increase or decrease the Funds investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the funds investment team expertise style or asset class exposures, portfolio characteristics, risk profile, and investment process. The underlying funds invest their assets directly in equity, fixed income, derivatives, cash, and cash equivalents (including money market funds) in accordance with their own investment objectives and policies. Although the Fund intends to invest primarily in a combination of underlying funds, the Fund may invest directly in equity and fixed income securities and money market securities. 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. This section describes the principal risks associated with the Funds principal investment strategies. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. The likelihood of loss may be greater if you invest for a shorter period of time. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value. Affiliated Fund Risk. The Advisers authority to select and substitute underlying funds from a variety of affiliated and unaffiliated mutual funds may create a conflict of interest because the Adviser and its affiliated companies typically receive fees from the affiliated funds. Asset Allocation Risk. Investments in the Fund are subject to risks related to the Advisers allocation choices. The selection of the underlying funds and the allocation of the Funds assets among the various asset classes and market segments could cause the Fund to lose value or cause the Fund to underperform relevant benchmarks or other funds with similar investment objectives. Cybersecurity Risk. With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Funds ability to calculate its net asset value, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. Market Risk. Stock and bond markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of your investment in the Fund will fluctuate, which means that you could lose money. Underlying Fund Investment Risk. The Fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the Fund will incur fees to pay for certain expenses related to the operations of the Fund. An investor holding the underlying funds directly and in the same proportions as the Fund would incur lower overall expenses, but would not receive the benefit of the portfolio management and other services provided by the Fund. The Funds risks are directly related to the risks of the underlying funds. It is important to understand the risks associated with investing in the underlying funds.<ul type="square"><li>Derivatives Risk. The performance of derivative instruments depends largely on the performance of an underlying reference instrument and the portfolio managers ability to predict correctly the direction of securities prices, interest rates, currency exchange rates, and/or other economic factors. Derivatives involve additional costs and can create economic leverage in an underlying funds portfolio which may result in significant volatility and cause the underlying fund to participate in losses (as well as gains) in an amount that exceeds the underlying funds initial investment. Other risks include liquidity due to possible lack of a secondary market, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the underlying fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. With over-the-counter derivatives, there is the risk that the other party to the transaction will fail to perform. Specific types of derivative securities also are subject to a number of additional risks, such as:<blockquote>Forward Foreign Currency Exchange Contracts Risk. Forward foreign currency exchange contracts are subject to currency risks. A forward foreign currency exchange contract may also result in losses in the event of a default or bankruptcy of the counterparty. Forward foreign currency exchange contracts may limit potential gain from a positive change in the relationship between the U.S. dollar and foreign currencies. Forward Contracts Risk. Forward contracts are not currently exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts. Thus, an underlying fund faces the risk that its counterparties may not perform their obligations. Non-deliverable forwards are considered swaps and may in the future be required to be centrally cleared and traded on public facilities. Options and Futures Risk. Options and futures contracts may be more volatile than investments directly in the underlying securities, involve additional costs, and may involve a small initial investment relative to the risk assumed. Swap Agreements Risk. A swap agreement may not be assigned without the consent of the counterparty and may result in losses in the event of a default or bankruptcy of the counterparty.</blockquote></li></ul><ul type="square"><li>Emerging Markets Risk. 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.</li></ul><ul type="square"><li>Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries, or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.</li></ul><ul type="square"><li>Fixed Income Risk. Interest rates rise and fall over time, which will affect an underlying funds yield and share price. The credit quality of a portfolio investment could also cause an underlying funds share price to fall. An underlying fund could lose money if the issuer or counterparty defaults by failing to pay interest or principal when due. Fixed income securities may be paid off earlier or later than expected. Either situation could cause an underlying fund to hold securities paying lower-than-market rates of interest, which could hurt the funds yield or share price.</li></ul><ul type="square"><li>Foreign Securities Risk. 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, a fund may incur higher costs and expenses when making foreign investments, which will affect the funds total return.</li></ul><ul type="square"><li>Large-, Mid-, and Small-Cap Risk. Stocks of different market capitalizations tend to go in and out of favor based on market and economic conditions. Historically, small- and mid-cap stocks tend to be more volatile than large-cap stocks, and small-cap stocks have been riskier than large- and mid-cap stocks. During a period when stocks of a particular market capitalization fall behind other types of investments, an underlying funds large-, mid-, or small-cap holdings could reduce performance.</li></ul><ul type="square"><li>Liquidity Risk. Liquidity risk refers to the possibility that a fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, an underlying 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 funds performance.</li></ul><ul type="square"><li>Sector Risk. Companies with similar characteristics, such as those within the same industry, may be grouped together in broad categories called sectors. To the extent an underlying fund invests its assets in a particular sector, the funds performance may be more susceptible to any economic, business or other developments that generally affect that sector.</li></ul><ul type="square"><li>Style Risk. Different investment styles, such as growth or equity, tend to shift in and out of favor depending on market and investor sentiment. The Fund may underperform other funds that invest in underlying funds with similar asset classes but employ different investment styles.</li></ul> 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. This section describes the principal risks associated with the Funds principal investment strategies. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. The likelihood of loss may be greater if you invest for a shorter period of time. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value. Affiliated Fund Risk. The Advisers authority to select and substitute underlying funds from a variety of affiliated and unaffiliated mutual funds may create a conflict of interest because the Adviser and its affiliated companies typically receive fees from the affiliated funds. Asset Allocation Risk. Investments in the Fund are subject to risks related to the Advisers allocation choices. The selection of the underlying funds and the allocation of the Funds assets among the various asset classes and market segments could cause the Fund to lose value or cause the Fund to underperform relevant benchmarks or other funds with similar investment objectives. Cybersecurity Risk. With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Funds ability to calculate its net asset value, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. Market Risk. Stock and bond markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of your investment in the Fund will fluctuate, which means that you could lose money. Underlying Fund Investment Risk. The Fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the Fund will incur fees to pay for certain expenses related to the operations of the Fund. An investor holding the underlying funds directly and in the same proportions as the Fund would incur lower overall expenses, but would not receive the benefit of the portfolio management and other services provided by the Fund. The Funds risks are directly related to the risks of the underlying funds. It is important to understand the risks associated with investing in the underlying funds.<ul type="square"><li>Derivatives Risk. The performance of derivative instruments depends largely on the performance of an underlying reference instrument and the portfolio managers ability to predict correctly the direction of securities prices, interest rates, currency exchange rates, and/or other economic factors. Derivatives involve additional costs and can create economic leverage in an underlying funds portfolio which may result in significant volatility and cause the underlying fund to participate in losses (as well as gains) in an amount that exceeds the underlying funds initial investment. Other risks include liquidity due to possible lack of a secondary market, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the underlying fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. With over-the-counter derivatives, there is the risk that the other party to the transaction will fail to perform. Specific types of derivative securities also are subject to a number of additional risks, such as:<blockquote>Forward Foreign Currency Exchange Contracts Risk. Forward foreign currency exchange contracts are subject to currency risks. A forward foreign currency exchange contract may also result in losses in the event of a default or bankruptcy of the counterparty. Forward foreign currency exchange contracts may limit potential gain from a positive change in the relationship between the U.S. dollar and foreign currencies. Forward Contracts Risk. Forward contracts are not currently exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts. Thus, an underlying fund faces the risk that its counterparties may not perform their obligations. Non-deliverable forwards are considered swaps and may in the future be required to be centrally cleared and traded on public facilities. Options and Futures Risk. Options and futures contracts may be more volatile than investments directly in the underlying securities, involve additional costs, and may involve a small initial investment relative to the risk assumed. Swap Agreements Risk. A swap agreement may not be assigned without the consent of the counterparty and may result in losses in the event of a default or bankruptcy of the counterparty.</blockquote></li></ul><ul type="square"><li>Emerging Markets Risk. 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.</li></ul><ul type="square"><li>Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries, or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.</li></ul><ul type="square"><li>Foreign Securities Risk. 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, a fund may incur higher costs and expenses when making foreign investments, which will affect the funds total return.</li></ul><ul type="square"><li>Large-, Mid-, and Small-Cap Risk. Stocks of different market capitalizations tend to go in and out of favor based on market and economic conditions. Historically, small- and mid-cap stocks tend to be more volatile than large-cap stocks, and small-cap stocks have been riskier than large- and mid-cap stocks. During a period when stocks of a particular market capitalization fall behind other types of investments, an underlying funds large-, mid-, or small-cap holdings could reduce performance.</li></ul><ul type="square"><li>Liquidity Risk. Liquidity risk refers to the possibility that a fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, an underlying 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 funds performance.</li></ul><ul type="square"><li>Sector Risk. Companies with similar characteristics, such as those within the same industry, may be grouped together in broad categories called sectors. To the extent an underlying fund invests its assets in a particular sector, the funds performance may be more susceptible to any economic, business or other developments that generally affect that sector.</li></ul><ul type="square"><li>Style Risk. Different investment styles, such as growth or equity, tend to shift in and out of favor depending on market and investor sentiment. The Fund may underperform other funds that invest in underlying funds with similar asset classes but employ different investment styles.</li></ul> Class IAnnual Total Returns (calendar years 2005-2014) Class IAnnual Total Returns (calendar years 2005-2014) Average Annual Total Returns through 12/31/14 Average Annual Total Returns through 12/31/14 0.0698 0.1369 0.0622 0.1369 0.0771 0.0625 0.0767 0.0552 0.0972 0.0803 0.0767 0.064 0.085 0.0972 December 31, 2016 December 31, 2016 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, whether you redeem all of your shares at the end of those periods or not. The example also assumes that your investment has a 5% return each year and that the Funds 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-, five-, and ten-year examples reflect the Advisers agreement to waive fees and reimburse expenses through December 31, 2016. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 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, whether you redeem all of your shares at the end of those periods or not. The example also assumes that your investment has a 5% return each year and that the Funds 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-, five-, and ten-year examples reflect the Advisers agreement to waive fees and reimburse expenses through December 31, 2016. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The Lipper Mixed-Asset Target Allocation Moderate Funds Index is an average of the 30 largest mutual funds included in this Lipper category. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The Lipper Mixed-Asset Target Allocation Growth Funds Index is an average of the 30 largest mutual funds included in this Lipper category. 0.0736 -0.3579 -0.0273 0.1439 0.0698 2009-09-30 0.1597 Worst quarter 2008-12-31 0.0819 -0.4072 -0.0438 0.1567 0.0771 2009-09-30 0.1774 Worst quarter 2008-12-31 The net asset value of the Fund will vary, and you could lose money by investing in the Fund. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualTotalReturnsBarChart000426 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000427 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualTotalReturnsBarChart000436 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000437 column period compact * ~</div> 97 56 122 72 235 438 282 360 988 1734 1165 1453 60 101 76 126 358 436 232 280 1425 1136 1707 959 333 254 411 207 342 263 420 216 Portfolio Turnover Portfolio Turnover Principal Investment Strategies Principal Investment Strategies The Fund invests primarily in shares of other mutual funds, including affiliated and unaffiliated funds (underlying funds), according to an asset allocation strategy developed by the Adviser. The Fund may invest in different combinations and weightings of affiliated and unaffiliated funds without limit. The Fund normally targets an allocation of approximately 40% of its total assets in funds that invest principally in fixed income securities and 60% of its total assets in funds that invest principally in equity securities. Under normal market conditions, the Fund allocates its assets among the underlying funds based on asset allocation target ranges of 30-50% of its total assets in funds that invest principally in fixed income securities and 50-70% of its total assets in funds that invest principally in equity securities. Equity securities in which the underlying funds may invest may be of any market capitalization and include common stock, preferred stock, depositary receipts, rights and warrants, and exchange-traded funds. Fixed income securities in which the underlying funds may invest include corporate bonds and government, mortgage-backed and asset-backed securities, and convertible securities (fixed income securities convertible into shares of common or preferred stock). The Fund also may invest in funds with exposure to debt securities that are below investment grade, also known as high yield securities (junk bonds), and in funds that invest in cash, cash equivalents, and other short-term fixed income instruments, including money market funds. While the Fund will invest primarily in underlying funds that invest in U.S. securities, some underlying funds may invest in foreign securities, including emerging markets. The Fund is one of the BMO Target Risk Funds. The target investment allocation for each of the Target Risk Funds, based on each Funds total assets, is set forth below. <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="43%"></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td></tr> <tr> <td valign="bottom">BMO Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Equity</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Fixed Income</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Money Market Funds</td></tr> <tr > <td valign="top" style="border-bottom:1px solid #225cab">Conservative Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">70% - 100%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid #225cab">Moderate Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid #225cab">Balanced Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid #225cab">Growth Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">70% - 90%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid #225cab">Aggressive Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">90% - 100%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> </table> The Adviser will continuously monitor the Fund and may make modifications to either the investment approach or the underlying fund allocations that the Adviser believes could benefit shareholders. The Adviser will also monitor the underlying funds on an ongoing basis and may increase or decrease the Funds investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the funds investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process. The underlying funds invest their assets directly in equity, fixed income, derivatives, cash, and cash equivalents (including money market funds) in accordance with their own investment objectives and policies. Although the Fund intends to invest primarily in a combination of underlying funds, the Fund may invest directly in equity and fixed income securities and money market securities. The Fund invests primarily in shares of other mutual funds, including affiliated and unaffiliated funds (underlying funds), according to an asset allocation strategy developed by the Adviser. The Fund may invest in different combinations and weightings of affiliated and unaffiliated funds without limit. The Fund normally targets an allocation of approximately 60% of its total assets in funds that invest principally in fixed income securities and 40% of its total assets in funds that invest principally in equity securities. Under normal market conditions the Fund allocates its assets among the underlying funds based on asset allocation target ranges of 50-70% of its total assets in funds that invest principally in fixed income securities and 30-50% of its total assets in funds that invest principally in equity securities. Equity securities in which the underlying funds may invest may be of any market capitalization and include common stock, preferred stock, depositary receipts, rights and warrants, and exchange-traded funds. Fixed income securities in which the underlying funds may invest include corporate bonds and government, mortgage-backed and asset-backed securities, and convertible securities (fixed income securities convertible into shares of common or preferred stock). The Fund also may invest in funds with exposure to debt securities that are below investment grade, also known as high yield securities (junk bonds), and in funds that invest in cash, cash equivalents, and other short-term fixed income instruments, including money market funds. While the Fund will invest primarily in underlying funds that invest in U.S. securities, some underlying funds may invest in foreign securities, including emerging markets. The Fund is one of the BMO Target Risk Funds. The target investment allocation for each of the Target Risk Funds, based on each Funds total assets, is set forth below. <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="43%"></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td> <td valign="bottom"></td> <td></td></tr> <tr> <td valign="bottom">BMO Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Equity</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Fixed Income</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Money Market Funds</td></tr> <tr > <td valign="top" style="border-bottom:1px solid #225cab">Conservative Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">70% - 100%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid #225cab">Moderate Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid #225cab">Balanced Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid #225cab">Growth Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">70% - 90%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid #225cab">Aggressive Allocation</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">90% - 100%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0%</td> <td valign="bottom" style="border-bottom:1px solid #225cab"> </td> <td valign="bottom" align="center" style="border-bottom:1px solid #225cab">0% - 10%</td></tr> </table> The Adviser will continuously monitor the Fund and may make modifications to either the investment approach or the underlying fund allocations that the Adviser believes could benefit shareholders. The Adviser will also monitor the underlying funds on an ongoing basis and may increase or decrease the Funds investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the funds investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process. The underlying funds invest their assets directly in equity, fixed income, derivatives, cash, and cash equivalents (including money market funds) in accordance with their own investment objectives and policies. Although the Fund intends to invest primarily in a combination of underlying funds, the Fund may invest directly in equity and fixed income securities and money market securities. 0.0704 0.0649 Investment Objective: Fees and Expenses of the Fund 0 0.005 0 0 0.0113 0.0138 0.0088 0.0073 -0.0024 -0.0024 -0.0024 -0.0024 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, whether you redeem all of your shares at the end of those periods or not. The example also assumes that your investment has a 5% return each year and that the Funds 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-, five-, and ten-year examples reflect the Advisers agreement to waive fees and reimburse expenses through December 31, 2016. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 335 257 413 209 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. This section describes the principal risks associated with the Funds principal investment strategies. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. The likelihood of loss may be greater if you invest for a shorter period of time. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value. Affiliated Fund Risk. The Advisers authority to select and substitute underlying funds from a variety of affiliated and unaffiliated mutual funds may create a conflict of interest because the Adviser and its affiliated companies typically receive fees from the affiliated funds. Asset Allocation Risk. Investments in the Fund are subject to risks related to the Advisers allocation choices. The selection of the underlying funds and the allocation of the Funds assets among the various asset classes and market segments could cause the Fund to lose value or cause the Fund to underperform relevant benchmarks or other funds with similar investment objectives. Cybersecurity Risk. With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Funds ability to calculate its net asset value, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. Market Risk. Stock and bond markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of your investment in the Fund will fluctuate, which means that you could lose money. Underlying Fund Investment Risk. The Fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the Fund will incur fees to pay for certain expenses related to the operations of the Fund. An investor holding the underlying funds directly and in the same proportions as the Fund would incur lower overall expenses, but would not receive the benefit of the portfolio management and other services provided by the Fund. The Funds risks are directly related to the risks of the underlying funds. It is important to understand the risks associated with investing in the underlying funds.<ul type="square"><li>Derivatives Risk. The performance of derivative instruments depends largely on the performance of an underlying reference instrument and the portfolio managers ability to predict correctly the direction of securities prices, interest rates, currency exchange rates, and/or other economic factors. Derivatives involve additional costs and can create economic leverage in an underlying funds portfolio which may result in significant volatility and cause the underlying fund to participate in losses (as well as gains) in an amount that exceeds the underlying funds initial investment. Other risks include liquidity due to possible lack of a secondary market, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the underlying fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. With over-the-counter derivatives, there is the risk that the other party to the transaction will fail to perform. Specific types of derivative securities also are subject to a number of additional risks, such as:<blockquote>Forward Foreign Currency Exchange Contracts Risk. Forward foreign currency exchange contracts are subject to currency risks. A forward foreign currency exchange contract may also result in losses in the event of a default or bankruptcy of the counterparty. Forward foreign currency exchange contracts may limit potential gain from a positive change in the relationship between the U.S. dollar and foreign currencies. Forward Contracts Risk. Forward contracts are not currently exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts. Thus, an underlying fund faces the risk that its counterparties may not perform their obligations. Non-deliverable forwards are considered swaps and may in the future be required to be centrally cleared and traded on public facilities. Options and Futures Risk. Options and futures contracts may be more volatile than investments directly in the underlying securities, involve additional costs, and may involve a small initial investment relative to the risk assumed. Swap Agreements Risk. A swap agreement may not be assigned without the consent of the counterparty and may result in losses in the event of a default or bankruptcy of the counterparty.</blockquote></li></ul><ul type="square"><li>Emerging Markets Risk. 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.</li></ul><ul type="square"><li>Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries, or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.</li></ul><ul type="square"><li>Fixed Income Risk. Interest rates rise and fall over time, which will affect an underlying funds yield and share price. The credit quality of a portfolio investment could also cause an underlying funds share price to fall. An underlying fund could lose money if the issuer or counterparty defaults by failing to pay interest or principal when due. Fixed income securities may be paid off earlier or later than expected. Either situation could cause an underlying fund to hold securities paying lower-than-market rates of interest, which could hurt the funds yield or share price.</li></ul><ul type="square"><li>Foreign Securities Risk. 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, a fund may incur higher costs and expenses when making foreign investments, which will affect the funds total return.</li></ul><ul type="square"><li>High Yield Securities Risk. High yield securities, also referred to as junk bonds or non-investment grade 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.</li></ul><ul type="square"><li>Large-, Mid-, and Small-Cap Risk. Stocks of different market capitalizations tend to go in and out of favor based on market and economic conditions. Historically, small- and mid-cap stocks tend to be more volatile than large-cap stocks, and small-cap stocks have been riskier than large- and mid-cap stocks. During a period when stocks of a particular market capitalization fall behind other types of investments, an underlying funds large-, mid-, or small-cap holdings could reduce performance.</li></ul><ul type="square"><li>Liquidity Risk. Liquidity risk refers to the possibility that a fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, an underlying 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 funds performance.</li></ul><ul type="square"><li>Sector Risk. Companies with similar characteristics, such as those within the same industry, may be grouped together in broad categories called sectors. To the extent an underlying fund invests its assets in a particular sector, the funds performance may be more susceptible to any economic, business or other developments that generally affect that sector.</li></ul><ul type="square"><li>Style Risk. Different investment styles, such as growth or equity, tend to shift in and out of favor depending on market and investor sentiment. The Fund may underperform other funds that invest in underlying funds with similar asset classes but employ different investment styles.</li></ul> 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. This section describes the principal risks associated with the Funds principal investment strategies. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. The likelihood of loss may be greater if you invest for a shorter period of time. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value. Affiliated Fund Risk. The Advisers authority to select and substitute underlying funds from a variety of affiliated and unaffiliated mutual funds may create a conflict of interest because the Adviser and its affiliated companies typically receive fees from the affiliated funds. Asset Allocation Risk. Investments in the Fund are subject to risks related to the Advisers allocation choices. The selection of the underlying funds and the allocation of the Funds assets among the various asset classes and market segments could cause the Fund to lose value or cause the Fund to underperform relevant benchmarks or other funds with similar investment objectives. Cybersecurity Risk. With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Funds ability to calculate its net asset value, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. Market Risk. Stock and bond markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of your investment in the Fund will fluctuate, which means that you could lose money. Underlying Fund Investment Risk. The Fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the Fund will incur fees to pay for certain expenses related to the operations of the Fund. An investor holding the underlying funds directly and in the same proportions as the Fund would incur lower overall expenses, but would not receive the benefit of the portfolio management and other services provided by the Fund. The Funds risks are directly related to the risks of the underlying funds. It is important to understand the risks associated with investing in the underlying funds.<ul type="square"><li>Derivatives Risk. The performance of derivative instruments depends largely on the performance of an underlying reference instrument and the portfolio managers ability to predict correctly the direction of securities prices, interest rates, currency exchange rates, and/or other economic factors. Derivatives involve additional costs and can create economic leverage in an underlying funds portfolio which may result in significant volatility and cause the underlying fund to participate in losses (as well as gains) in an amount that exceeds the underlying funds initial investment. Other risks include liquidity due to possible lack of a secondary market, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the underlying fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. With over-the-counter derivatives, there is the risk that the other party to the transaction will fail to perform. Specific types of derivative securities also are subject to a number of additional risks, such as:<blockquote>Forward Foreign Currency Exchange Contracts Risk. Forward foreign currency exchange contracts are subject to currency risks. A forward foreign currency exchange contract may also result in losses in the event of a default or bankruptcy of the counterparty. Forward foreign currency exchange contracts may limit potential gain from a positive change in the relationship between the U.S. dollar and foreign currencies. Forward Contracts Risk. Forward contracts are not currently exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts. Thus, an underlying fund faces the risk that its counterparties may not perform their obligations. Non-deliverable forwards are considered swaps and may in the future be required to be centrally cleared and traded on public facilities. Options and Futures Risk. Options and futures contracts may be more volatile than investments directly in the underlying securities, involve additional costs, and may involve a small initial investment relative to the risk assumed. Swap Agreements Risk. A swap agreement may not be assigned without the consent of the counterparty and may result in losses in the event of a default or bankruptcy of the counterparty.</blockquote></li></ul><ul type="square"><li>Emerging Markets Risk. 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.</li></ul><ul type="square"><li>Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries, or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.</li></ul><ul type="square"><li>Fixed Income Risk. Interest rates rise and fall over time, which will affect an underlying funds yield and share price. The credit quality of a portfolio investment could also cause an underlying funds share price to fall. An underlying fund could lose money if the issuer or counterparty defaults by failing to pay interest or principal when due. Fixed income securities may be paid off earlier or later than expected. Either situation could cause an underlying fund to hold securities paying lower-than-market rates of interest, which could hurt the funds yield or share price.</li></ul><ul type="square"><li>Foreign Securities Risk. 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, a fund may incur higher costs and expenses when making foreign investments, which will affect the funds total return.</li></ul><ul type="square"><li>High Yield Securities Risk. High yield securities, also referred to as junk bonds or non-investment grade 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.</li></ul><ul type="square"><li>Large-, Mid-, and Small-Cap Risk. Stocks of different market capitalizations tend to go in and out of favor based on market and economic conditions. Historically, small- and mid-cap stocks tend to be more volatile than large-cap stocks, and small-cap stocks have been riskier than large- and mid-cap stocks. During a period when stocks of a particular market capitalization fall behind other types of investments, an underlying funds large-, mid-, or small-cap holdings could reduce performance.</li></ul><ul type="square"><li>Liquidity Risk. Liquidity risk refers to the possibility that a fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, an underlying 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 funds performance.</li></ul><ul type="square"><li>Sector Risk. Companies with similar characteristics, such as those within the same industry, may be grouped together in broad categories called sectors. To the extent an underlying fund invests its assets in a particular sector, the funds performance may be more susceptible to any economic, business or other developments that generally affect that sector.</li></ul><ul type="square"><li>Style Risk. Different investment styles, such as growth or equity, tend to shift in and out of favor depending on market and investor sentiment. The Fund may underperform other funds that invest in underlying funds with similar asset classes but employ different investment styles.</li></ul> Portfolio Turnover December 31, 2016 Principal Investment Strategies The Fund invests primarily in shares of other mutual funds, including affiliated and unaffiliated funds (underlying funds), according to an asset allocation strategy developed by the Adviser. The Fund may invest in different combinations and weightings of affiliated and unaffiliated funds without limit. The Fund normally targets an allocation of approximately 80% of its total assets in funds that invest principally in fixed income securities and 20% of its total assets in funds that invest principally in equity securities. Under normal market conditions, the Fund allocates its assets among the underlying funds based on asset allocation target ranges of 70-90% of its total assets in funds that invest principally in fixed income securities and 10-30% of its total assets in funds that invest principally in equity securities. Equity securities in which the underlying funds may invest may be of any market capitalization and include common stock, preferred stock, depositary receipts, rights and warrants, and exchange-traded funds. Fixed income securities in which the underlying funds may invest include corporate bonds and government, mortgage-backed and asset-backed securities, and convertible securities (fixed income securities convertible into shares of common or preferred stock). The Fund also may invest in funds with exposure to debt securities that are below investment grade, also known as high yield securities (junk bonds), and in funds that invest in cash, cash equivalents, and other short-term fixed income instruments, including money market funds. The Fund is one of the BMO Target Risk Funds. The target investment allocation for each of the Target Risk Funds, based on each Funds total assets, is set forth below. <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="41%"></td> <td valign="bottom" width="1%"></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td valign="bottom"></td> <td></td></tr> <tr> <td valign="bottom">BMO Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Equity</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Fixed Income</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Money Market Funds</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Conservative Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">70% - 100%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid ">Moderate Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Balanced Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">50% - 70%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">30% - 50%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr> <td valign="top" style="border-bottom:1px solid ">Growth Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">70% - 90%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">10% - 30%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> <tr > <td valign="top" style="border-bottom:1px solid ">Aggressive Allocation</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">90% - 100%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0%</td> <td valign="bottom" style="border-bottom:1px solid "> </td> <td valign="bottom" align="center" style="border-bottom:1px solid ">0% - 10%</td></tr> </table> The Adviser will continuously monitor the Fund and may make modifications to either the investment approach or the underlying fund allocations that the Adviser believes could benefit shareholders. The Adviser will also monitor the underlying funds on an ongoing basis and may increase or decrease the Funds investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the funds investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process. The underlying funds invest their assets directly in equity, fixed income, derivatives, cash, and cash equivalents (including money market funds) in accordance with their own investment objectives and policies. Although the Fund intends to invest primarily in a combination of underlying funds, the Fund may invest directly in equity and fixed income securities and money market securities. 91 65 116 50 335 257 413 209 1353 1062 1637 884 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. This section describes the principal risks associated with the Funds principal investment strategies. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. The likelihood of loss may be greater if you invest for a shorter period of time. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value. Affiliated Fund Risk. The Advisers authority to select and substitute underlying funds from a variety of affiliated and unaffiliated mutual funds may create a conflict of interest because the Adviser and its affiliated companies typically receive fees from the affiliated funds. Asset Allocation Risk. Investments in the Fund are subject to risks related to the Advisers allocation choices. The selection of the underlying funds and the allocation of the Funds assets among the various asset classes and market segments could cause the Fund to lose value or cause the Fund to underperform relevant benchmarks or other funds with similar investment objectives. Cybersecurity Risk. With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Funds ability to calculate its net asset value, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. Market Risk. Stock and bond markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of your investment in the Fund will fluctuate, which means that you could lose money. Underlying Fund Investment Risk. The Fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in the Fund will incur fees to pay for certain expenses related to the operations of the Fund. An investor holding the underlying funds directly and in the same proportions as the Fund would incur lower overall expenses, but would not receive the benefit of the portfolio management and other services provided by the Fund. The Funds risks are directly related to the risks of the underlying funds. It is important to understand the risks associated with investing in the underlying funds.<ul type="square"><li>Derivatives Risk. The performance of derivative instruments depends largely on the performance of an underlying reference instrument and the portfolio managers ability to predict correctly the direction of securities prices, interest rates, currency exchange rates, and/or other economic factors. Derivatives involve additional costs and can create economic leverage in an underlying funds portfolio which may result in significant volatility and cause the underlying fund to participate in losses (as well as gains) in an amount that exceeds the underlying funds initial investment. Other risks include liquidity due to possible lack of a secondary market, mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that the underlying fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. With over-the-counter derivatives, there is the risk that the other party to the transaction will fail to perform. Specific types of derivative securities also are subject to a number of additional risks, such as:<blockquote>Forward Foreign Currency Exchange Contracts Risk. Forward foreign currency exchange contracts are subject to currency risks. A forward foreign currency exchange contract may also result in losses in the event of a default or bankruptcy of the counterparty. Forward foreign currency exchange contracts may limit potential gain from a positive change in the relationship between the U.S. dollar and foreign currencies. Forward Contracts Risk. Forward contracts are not currently exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts. Thus, an underlying fund faces the risk that its counterparties may not perform their obligations. Non-deliverable forwards are considered swaps and may in the future be required to be centrally cleared and traded on public facilities. Options and Futures Risk. Options and futures contracts may be more volatile than investments directly in the underlying securities, involve additional costs, and may involve a small initial investment relative to the risk assumed. Swap Agreements Risk. A swap agreement may not be assigned without the consent of the counterparty and may result in losses in the event of a default or bankruptcy of the counterparty.</blockquote></li></ul><ul type="square"><li>Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries, or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.</li></ul><ul type="square"><li>Fixed Income Risk. Interest rates rise and fall over time, which will affect an underlying funds yield and share price. The credit quality of a portfolio investment could also cause an underlying funds share price to fall. An underlying fund could lose money if the issuer or counterparty defaults by failing to pay interest or principal when due. Fixed income securities may be paid off earlier or later than expected. Either situation could cause an underlying fund to hold securities paying lower-than-market rates of interest, which could hurt the funds yield or share price.</li></ul><ul type="square"><li>High Yield Securities Risk. High yield securities, also referred to as junk bonds or non-investment grade 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.</li></ul><ul type="square"><li>Large-, Mid-, and Small-Cap Risk. Stocks of different market capitalizations tend to go in and out of favor based on market and economic conditions. Historically, small- and mid-cap stocks tend to be more volatile than large-cap stocks, and small-cap stocks have been riskier than large- and mid-cap stocks. During a period when stocks of a particular market capitalization fall behind other types of investments, an underlying funds large-, mid-, or small-cap holdings could reduce performance.</li></ul><ul type="square"><li>Liquidity Risk. Liquidity risk refers to the possibility that a fund may not be able to sell or buy a security or close out an investment contract at a favorable price or time. Consequently, an underlying 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 funds performance.</li></ul><ul type="square"><li>Sector Risk. Companies with similar characteristics, such as those within the same industry, may be grouped together in broad categories called sectors. To the extent an underlying fund invests its assets in a particular sector, the funds performance may be more susceptible to any economic, business or other developments that generally affect that sector.</li></ul><ul type="square"><li>Style Risk. Different investment styles, such as growth or equity, tend to shift in and out of favor depending on market and investor sentiment. The Fund may underperform other funds that invest in underlying funds with similar asset classes but employ different investment styles.</li></ul> Class IAnnual Total Returns (calendar years 2005-2014) Class IAnnual Total Returns (calendar years 2005-2014) Class IAnnual Total Returns (calendar years 2005-2014) Average Annual Total Returns through 12/31/14 Average Annual Total Returns through 12/31/14 The net asset value of the Fund will vary, and you could lose money by investing in the Fund. Average Annual Total Returns through 12/31/14 After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The Lipper Mixed-Asset Target Allocation Moderate Funds Index is an average of the 30 largest mutual funds included in this Lipper category. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. The Barclays U.S. Aggregate Bond Index (BABI) is an index that covers the U.S. investment-grade fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-based securities. To qualify for inclusion, a bond or security must have at least one year to final maturity and be rated Baa3 or better, dollar denominated, non-convertible, fixed-rate, and publicly issued. The Lipper Mixed-Asset Target Allocation Conservative Funds Index is an average of the 30 largest mutual funds included in this Lipper category. 0.0587 0.0595 0.0467 0.0643 0.1369 0.0622 0.0514 0.0595 0.0467 0.0583 0.0471 0.0516 0.0545 0.0516 0.0471 0.0607 0.0602 0.0693 0.0602 0.0609 0.0767 0.0552 0.0752 0.0972 After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. The Barclays U.S. Aggregate Bond Index (BABI) is an index that covers the U.S. investment-grade fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-based securities. To qualify for inclusion, a bond or security must have at least one year to final maturity and be rated Baa3 or better, dollar denominated, non-convertible, fixed-rate, and publicly issued. The Lipper Mixed-Asset Target Allocation Conservative Funds Index is an average of the 30 largest mutual funds included in this Lipper category. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. 0.0372 -0.1145 0.0251 0.106 0.0514 2009-06-30 0.0922 Worst quarter 2008-09-30 0.0626 0.0499 -0.2829 -0.2015 -0.0113 0.0071 0.1321 0.1191 0.0643 0.0587 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualTotalReturnsBarChart000396 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000397 column period compact * ~</div> The net asset value of the Fund will vary, and you could lose money by investing in the Fund. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. 2009-06-30 0.1141 Worst quarter 2008-12-31 The net asset value of the Fund will vary, and you could lose money by investing in the Fund. After-tax returns are calculated using the highest historical individual marginal federal income tax rates and do not reflect the effect of any applicable state and local taxes. After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans. 2009-09-30 0.1362 Worst quarter 2008-12-31 91 65 116 50 342 263 420 216 1385 1095 1668 917 97 72 122 56 333 254 411 207 1316 1024 1600 845 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualTotalReturnsBarChart000416 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualTotalReturnsBarChart000406 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000407 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000417 column period compact * ~</div> To provide total investment return from income and appreciation. To provide total investment return from income and appreciation. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0047 0.0022 0.0022 0.0007 0.0057 0.0032 0.0032 0.0017 0.0062 0.0062 0.0062 0.0062 0.0059 0.0059 0.0059 0.0059 0.0095 0.007 0.012 0.0055 0.0089 0.0064 0.0114 0.0049 To provide total investment return from income and appreciation. To provide total investment return primarily from appreciation, 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0057 0.0032 0.0032 0.0017 0.0053 0.0028 0.0028 0.0013 0.0065 0.0065 0.0065 0.0065 0.0066 0.0066 0.0066 0.0066 0.0095 0.007 0.012 0.0055 0.0099 0.0074 0.0124 0.0059 1453 1165 1734 988 1425 1136 1707 959 0.2 0.44 Principal Risks Principal Risks Fund Performance The Fund is the successor to the portfolio of a collective trust fund (Collective Fund) managed by the Adviser with objectives, policies and restrictions that were, in all material respects, equivalent to those of the Fund. On May 30, 2014, the Funds inception date, the assets of the Collective Fund were transferred to the Fund in exchange for Fund shares. The performance information shown for the Class I shares includes the performance of the Collective Fund for periods before the Fund commenced operations, not adjusted to reflect the Class I expenses. If the Class I expenses had been deducted, the returns would be lower than those shown below. The Collective Fund was not registered under the Investment Company Act of 1940 (1940 Act) and was not subject to certain investment restrictions and diversification requirements that are imposed by the 1940 Act and the Internal Revenue Code which, if applicable, might have adversely affected the performance of the Collective Fund. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Performance for the Funds Class Y, R3 and R6 shares will vary from the Class I shares based on the expenses of each class. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. Investors may obtain updated performance information for the Fund at www.bmofunds.com. Fund Performance The Fund is the successor to the portfolio of a collective trust fund (Collective Fund) managed by the Adviser with objectives, policies and restrictions that were, in all material respects, equivalent to those of the Fund. On May 30, 2014, the Funds inception date, the assets of the Collective Fund were transferred to the Fund in exchange for Fund shares. The performance information shown for the Class I shares includes the performance of the Collective Fund for periods before the Fund commenced operations, not adjusted to reflect the Class I expenses. If the Class I expenses had been deducted, the returns would be lower than those shown below. The Collective Fund was not registered under the Investment Company Act of 1940 (1940 Act) and was not subject to certain investment restrictions and diversification requirements that are imposed by the 1940 Act and the Internal Revenue Code which, if applicable, might have adversely affected the performance of the Collective Fund. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Performance for the Funds Class Y, R3 and R6 shares will vary from the Class I shares based on the expenses of each class. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. Investors may obtain updated performance information for the Fund at www.bmofunds.com. 0.1107 0.1545 0.0881 0.1545 0.1231 0.1353 0.0682 0.2979 0.1558 0.2285 For the period January 1, 2015 through September 30, 2015, the total return Best quarter -0.1902 0.1514 0.0678 0.3196 0.1668 0.2852 For the period January 1, 2015 through September 30, 2015, the total return Best quarter -0.2256 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. 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. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The Lipper Mixed-Asset Target Allocation Moderate Funds Index is an average of the 30 largest mutual funds included in this Lipper category. The S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The Lipper Mixed-Asset Target Allocation Growth Funds Index is an average of the 30 largest mutual funds included in this Lipper category. <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExample000424 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExample000434 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExampleNoRedemption000425 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExampleNoRedemption000435 column period compact * ~</div> 1316 1024 1600 845 1385 1095 1668 917 0.29 0.3 0.1039 secondarily from income. To provide total return primarily from income, secondarily from appreciation. 0 0 0 0 0 0 0 0 0.0057 0.0032 0.0032 0.0017 0.0056 0.0056 0.0056 0.0056 0.0089 0.0064 0.0114 0.0049 884 1637 1062 1353 Principal Risks Principal Risks 0.39 Principal Risks Fund Performance Fund Performance The Fund is the successor to the portfolio of a collective trust fund (Collective Fund) managed by the Adviser with objectives, policies and restrictions that were, in all material respects, equivalent to those of the Fund. On May 30, 2014, the Funds inception date, the assets of the Collective Fund were transferred to the Fund in exchange for Fund shares. The performance information shown for the Class I shares includes the performance of the Collective Fund for periods before the Fund commenced operations, not adjusted to reflect the Class I expenses. If the Class I expenses had been deducted, the returns would be lower than those shown below. The Collective Fund was not registered under the Investment Company Act of 1940 (1940 Act) and was not subject to certain investment restrictions and diversification requirements that are imposed by the 1940 Act and the Internal Revenue Code which, if applicable, might have adversely affected the performance of the Collective Fund. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Performance for the Funds Class Y, R3 and R6 shares will vary from the Class I shares based on the expenses of each class. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. Investors may obtain updated performance information for the Fund at www.bmofunds.com. The Fund is the successor to the portfolio of a collective trust fund (Collective Fund) managed by the Adviser with objectives, policies and restrictions that were, in all material respects, equivalent to those of the Fund. On May 30, 2014, the Funds inception date, the assets of the Collective Fund were transferred to the Fund in exchange for Fund shares. The performance information shown for the Class I shares includes the performance of the Collective Fund for periods before the Fund commenced operations, not adjusted to reflect the Class I expenses. If the Class I expenses had been deducted, the returns would be lower than those shown below. The Collective Fund was not registered under the Investment Company Act of 1940 (1940 Act) and was not subject to certain investment restrictions and diversification requirements that are imposed by the 1940 Act and the Internal Revenue Code which, if applicable, might have adversely affected the performance of the Collective Fund. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Performance for the Funds Class Y, R3 and R6 shares will vary from the Class I shares based on the expenses of each class. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. Investors may obtain updated performance information for the Fund at www.bmofunds.com. Fund Performance The Fund is the successor to the portfolio of a collective trust fund (Collective Fund) managed by the Adviser with objectives, policies and restrictions that were, in all material respects, equivalent to those of the Fund. On May 30, 2014, the Funds inception date, the assets of the Collective Fund were transferred to the Fund in exchange for Fund shares. The performance information shown for the Class I shares includes the performance of the Collective Fund for periods before the Fund commenced operations, not adjusted to reflect the Class I expenses. If the Class I expenses had been deducted, the returns would be lower than those shown below. The Collective Fund was not registered under the Investment Company Act of 1940 (1940 Act) and was not subject to certain investment restrictions and diversification requirements that are imposed by the 1940 Act and the Internal Revenue Code which, if applicable, might have adversely affected the performance of the Collective Fund. The bar chart and table show the historical performance of the Collective Fund and the Fund and provide some indication of the risks of investing in the Fund. The bar chart shows how the Collective Funds and the Funds total returns before taxes have varied from year to year, while the table compares the Collective Funds and the Funds average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Performance for the Funds Class Y, R3 and R6 shares will vary from the Class I shares based on the expenses of each class. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. Investors may obtain updated performance information for the Fund at www.bmofunds.com. 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. 0.0803 0.0445 0.066 0.0645 0.0445 0.066 0.0954 0.1545 0.0881 The Barclays U.S. Aggregate Bond Index (BABI) is an index that covers the U.S. investment-grade fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-based securities. To qualify for inclusion, a bond or security must have at least one year to final maturity and be rated Baa3 or better, dollar denominated, non-convertible, fixed-rate, and publicly issued. The Lipper Mixed-Asset Target Allocation Conservative Funds Index is an average of the 30 largest mutual funds included in this Lipper category. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. 0.0657 0.0619 0.1965 0.1038 0.0389 For the period January 1, 2015 through September 30, 2015, the total return Best quarter -0.0556 0.1138 0.0895 0.0665 0.0643 0.2644 0.2318 0.1397 0.1228 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExample000394 column period compact * ~</div> 0.1618 0.0982 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExampleNoRedemption000395 column period compact * ~</div> 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 Barclays U.S. Aggregate Bond Index (BABI) is an index that covers the U.S. investment-grade fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-based securities. To qualify for inclusion, a bond or security must have at least one year to final maturity and be rated Baa3 or better, dollar denominated, non-convertible, fixed-rate, and publicly issued. The Lipper Mixed-Asset Target Allocation Conservative Funds Index is an average of the 30 largest mutual funds included in this Lipper category. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. For the period January 1, 2015 through September 30, 2015, the total return Best quarter -0.0939 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 S&P 500 Index is a market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. The Lipper Mixed-Asset Target Allocation Moderate Funds Index is an average of the 30 largest mutual funds included in this Lipper category. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. After-tax returns are shown only for Class I, and after-tax returns for Class Y, Class R3, and Class R6 will vary. For the period January 1, 2015 through September 30, 2015, the total return Best quarter -0.1417 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExample000414 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExample000404 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExampleNoRedemption000415 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExampleNoRedemption000405 column period compact * ~</div> Other 2015-08-31 BMO FUNDS, INC. 0000889366 false 2016-01-06 2016-01-06 2015-12-29 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. 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 Asset Management Corp. (Adviser) has agreed to waive or reduce fees 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 0.33% for Class Y, 0.08% for Class I, 0.58% for Class R3, and (0.07)% for Class R6 through December 31, 2016. This expense limitation agreement may not be terminated prior to December 31, 2016 without the consent of the Fund's Board of Directors, unless terminated due to the termination of the investment advisory agreement. BMO Asset Management Corp. (Adviser) has agreed to waive or reduce fees 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 0.33% for Class Y, 0.08% for Class I, 0.58% for Class R3, and (0.07)% for Class R6.the amounts shown above through December 31, 2016. This expense limitation agreement may not be terminated prior to December 31, 2016 without the consent of the Fund’s Board of Directors, unless terminated due to the termination of the investment advisory agreement. BMO Asset Management Corp. (Adviser) has agreed to waive or reduce fees 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 0.30% for Class Y, 0.05% for Class I, 0.55% for Class R3, and (0.10)% for Class R6 through December 31, 2016. This expense limitation agreement may not be terminated prior to December 31, 2016 without the consent of the Fund’s Board of Directors, unless terminated due to the termination of the investment advisory agreement. 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. 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 Asset Management Corp. (Adviser) has agreed to waive or reduce fees 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 0.30% for Class Y, 0.05% for Class I, 0.55% for Class R3, and (0.10)% for Class R6 through December 31, 2016. This expense limitation agreement may not be terminated prior to December 31, 2016 without the consent of the Fund’s Board of Directors, unless terminated due to the termination of the investment advisory agreement.