0001193125-19-006979.txt : 20190111 0001193125-19-006979.hdr.sgml : 20190111 20190111115948 ACCESSION NUMBER: 0001193125-19-006979 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20190111 DATE AS OF CHANGE: 20190111 EFFECTIVENESS DATE: 20190111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BMO FUNDS, INC. CENTRAL INDEX KEY: 0000889366 IRS NUMBER: 251689258 STATE OF INCORPORATION: WI FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-48907 FILM NUMBER: 19521823 BUSINESS ADDRESS: STREET 1: 111 EAST KILBOURN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-287-8749 MAIL ADDRESS: STREET 1: 111 EAST KILBOURN AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS INC d/b/a BMO FUNDS DATE OF NAME CHANGE: 20111219 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS INC DATE OF NAME CHANGE: 19921105 FORMER COMPANY: FORMER CONFORMED NAME: MARSHALL FUNDS DATE OF NAME CHANGE: 19920708 0000889366 S000041360 BMO Moderate Allocation Fund C000128308 Class R3 BMBQX C000128309 Class R6 BMBTX C000128310 Class Y BMBYX C000128311 Class I BMBHX 497 1 d669117d497.htm BMO FUNDS, INC. BMO Funds, Inc.

BMO Funds, Inc.

111 East Kilbourn Avenue

Milwaukee, WI 53202

Ph. (direct): 414-287-8754

January 11, 2019

VIA EDGAR

U.S. Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

RE: BMO Funds, Inc. (Registration Nos. 033-48907; 811-58433)

Ladies and Gentlemen:

Attached for filing on behalf of BMO Funds, Inc. (the “Company”) pursuant to Rule 497(c) under the Securities Act of 1933, as amended, please find exhibits containing interactive data relating to a series of the Company (the “Fund”). The interactive data mirrors the summary information in the final form of the prospectus which was filed on January 7, 2019 under Rule 497(c) (SEC Accession No. 0001193125-19-003845). This filing is being made for the sole purpose of submitting the XBRL exhibits for the Fund.

If you have any questions regarding this filing, please do not hesitate to contact me.

 

Very truly yours,
BMO FUNDS, INC.
/s/ Michael J. Murphy
Michael J. Murphy
Secretary
EX-101.INS 2 bmo-20190107.xml XBRL INSTANCE DOCUMENT 0000889366 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128310Member 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128311Member 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128308Member 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128309Member 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128309Member bmo:BbuabiMember 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128309Member bmo:LmatacfiMember 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128311Member rr:AfterTaxesOnDistributionsMember 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128311Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128311Member bmo:BbuabiMember 2018-12-28 2018-12-28 0000889366 bmo:S000041360Member bmo:C000128311Member bmo:LmatacfiMember 2018-12-28 2018-12-28 pure iso4217:USD 2018-12-28 497 2018-08-31 BMO FUNDS, INC. 0000889366 false 2019-01-07 2019-01-07 BMO Moderate Allocation Fund Investment Objective: To provide total investment return from income and appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. <b>Shareholder Fees (fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b> Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, 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 Fund&#8217;s operating expenses are as shown in the table and remain the same. The costs in the one-year example and for the first year of the three-, five-, and ten-year examples reflect the Adviser&#8217;s agreement to waive fees and reimburse expenses through December 31, 2019. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Portfolio Turnover The Fund incurs transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 31% of the average value of its portfolio. Principal Investment Strategies The Fund invests primarily in other BMO mutual funds representing a variety of asset classes (the underlying funds) according to an asset allocation strategy developed by the Adviser. The Adviser may add unaffiliated funds to the underlying funds in its discretion and periodically may rebalance or modify the asset mix and change the underlying funds. 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. <br/><br/> 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 securities, 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. <br/><br/> The Fund is one of the BMO Target Risk Funds. The target investment allocation for each of the Target Risk Funds, based on each Fund&#8217;s total assets, is set forth below. <div style=""> <table cellpadding="0" cellspacing="0" style="border-bottom: 1pt solid border-collapse: collapse; empty-cells: show; margin-top: 5pt; width:100%;"> <tr style="break-inside: avoid;"> <td style="border-bottom: 1pt solid ; line-height: 11pt; padding: 3pt 3.5pt 1.5pt 3pt; vertical-align: bottom; width: 174.344px;"><b>BMO Fund</b></td> <td style="border-bottom: 1pt solid ; line-height: 11pt; padding: 3pt 3.5pt 1.5pt; text-align: center; vertical-align: bottom; white-space: nowrap; width: 139.688px;"><b>Equity</b></td> <td style="border-bottom: 1pt solid ; line-height: 11pt; padding: 3pt 3.5pt 1.5pt; text-align: center; vertical-align: bottom; width: 126.688px;"><b>Fixed&nbsp;<br /> Income</b></td> <td style="border-bottom: 1pt solid ; line-height: 11pt; padding: 3pt 3.5pt 1.5pt; text-align: center; vertical-align: bottom; white-space: nowrap; width: 153.688px;"><b>Alternatives</b></td> <td style="border-bottom: 1pt solid ; line-height: 11pt; padding: 3pt 3pt 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 115.344px;"><b>Money&nbsp;<br /> Market<br /> Funds</b></td> </tr> <tr style="break-inside: avoid;"> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 1.5pt 3pt; vertical-align: bottom; width: 174.344px;">Conservative Allocation</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 139.688px;">10% - 30%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 126.688px;">60% - 80%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 153.688px;">0% - 15%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3pt 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 115.344px;">0% - 10%</td> </tr> <tr style="break-inside: avoid;"> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 1.5pt 3pt; vertical-align: bottom; width: 174.344px;">Moderate Allocation</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 139.688px;">30% - 50%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 126.688px;">40% - 60%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 153.688px;">0% - 15%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3pt 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 115.344px;">0% - 10%</td> </tr> <tr style="break-inside: avoid;"> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 1.5pt 3pt; vertical-align: bottom; width: 174.344px;">Balanced Allocation</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 139.688px;">50% - 70%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 126.688px;">25% - 45%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 153.688px;">0% - 15%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3pt 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 115.344px;">0% - 10%</td> </tr> <tr style="break-inside: avoid;"> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 1.5pt 3pt; vertical-align: bottom; width: 174.344px;">Growth Allocation</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 139.688px;">70% - 90%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 126.688px;">5% - 25%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 153.688px;">0% - 15%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3pt 1.5pt 3.5pt; text-align: center; vertical-align: bottom; width: 115.344px;">0% - 10%</td> </tr> <tr style="break-inside: avoid;"> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 3pt 3pt; vertical-align: bottom; width: 174.344px;">Aggressive Allocation</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 3pt; text-align: center; vertical-align: bottom; width: 139.688px;">90% - 100%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 3pt; text-align: center; vertical-align: bottom; white-space: nowrap; width: 126.688px;">0%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3.5pt 3pt; text-align: center; vertical-align: bottom; width: 153.688px;">0% - 10%</td> <td style="border-bottom: 1pt solid ; line-height: 12pt; padding: 1.5pt 3pt 3pt 3.5pt; text-align: center; vertical-align: bottom; width: ">0% - 10%</td> </tr> </table> </div><br/> 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 Fund&#8217;s investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the fund&#8217;s investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process. <br/><br/> The underlying funds invest their assets directly in equity securities, fixed income securities, derivatives and other alternative investments, cash, and cash equivalents (including money market funds) in accordance with their own investment objectives and policies.<br/><br/> Although the Fund intends to invest primarily in a combination of underlying funds, the Fund may invest directly in equity and fixed income securities, money market securities, and certain derivative instruments including currency and index-related futures and forwards for both hedging and investment purposes. <br/><br/> For temporary defensive purposes during unusual economic or market conditions or for liquidity purposes, the Fund may invest up to 100% of its assets directly in cash, money market funds, and other money market instruments, repurchase agreements, and other short-term obligations. When the Fund engages in such activities, it may not achieve its investment objective. Principal Risks The Fund cannot assure that it will achieve its investment objective. An investment in the Fund is not a deposit of BMO Harris Bank N.A., or any of its affiliates, and is not insured or guaranteed by the FDIC or any other government agency.<br/><br/>This section describes the principal risks associated with the Fund&#8217;s 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.<br/><br/><b>Affiliated Fund Risk.</b> The Adviser&#8217;s 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.<br/><br/><b>Asset Allocation Risk.</b> Investments in the Fund are subject to risks related to the Adviser&#8217;s allocation choices. The selection of the underlying funds and the allocation of the Fund&#8217;s 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.<br/><br/><b>Cybersecurity Risk.</b> 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 Fund&#8217;s 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.<br/><br/><b>Market Risk.</b> 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.<br/><br/><b>Derivatives Risks.</b> Direct investment in derivatives involves the same risks described as part of the &#8220;Underlying Fund Investment Risk&#8221; below.<br/><br/><b>Underlying Fund Investment Risk.</b> 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 Fund&#8217;s 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><b>Asset-Backed/Mortgage-Backed Securities Risk.</b> Asset-backed and mortgage-backed securities are subject to risks of prepayment. An underlying fund&#8217;s yield will be reduced if cash from prepaid securities is reinvested in securities with lower interest rates. The risk of prepayment also may decrease the value of mortgage-backed securities. Asset-backed securities may have a higher level of default and recovery risk than mortgage-backed securities. Both of these types of securities may decline in value because of mortgage foreclosures or defaults on the underlying obligations. Credit risk is greater for mortgage-backed and asset-backed securities that are subordinate to another security.</li></ul><ul type="square"><li><b>Derivatives Risk.</b> The performance of derivative instruments depends largely on the performance of the underlying reference instrument and the portfolio manager&#8217;s 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 fund&#8217;s 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 fund&#8217;s 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><b>Forward Foreign Currency Exchange Contracts Risk.</b> 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.<br/><br/><b>Forward Contracts Risk.</b> 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.<br/><br/><b>Options and Futures Risk.</b> 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.<br/><br/><b>Swap Agreements Risk.</b> 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><b>Emerging Markets Risk.</b> 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><b>Equity Risk.</b> 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><b>Fixed Income Risk.</b> Interest rates rise and fall over time, which will affect an underlying fund&#8217;s yield and share price. The credit quality of a portfolio investment could also cause an underlying fund&#8217;s 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 fund&#8217;s yield or share price.</li></ul><ul type="square"><li><b>Foreign Securities Risk.</b> 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 fund&#8217;s total return.</li></ul><ul type="square"><li><b>Government Obligations Risk.</b> No assurance can be given that the U.S. government will provide financial support to U.S. government-sponsored agencies or instrumentalities where it is not obligated to do so by law (such as Fannie Mae or Freddie Mac). As a result, a risk exists that these entities will default on a financial obligation.</li></ul><ul type="square"><li><b>High Yield Securities Risk.</b> High yield securities, also referred to as &#8220;junk bonds&#8221; 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><b>Large-, Mid-, and Small-Cap Risk.</b> 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 fund&#8217;s large-, mid-, or small-cap holdings could reduce performance.</li></ul><ul type="square"><li><b>Liquidity Risk.</b> 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 fund&#8217;s performance.</li></ul><ul type="square"><li><b>Sector Risk.</b> 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 fund&#8217;s performance may be more susceptible to any economic, business or other developments that generally affect that sector.</li></ul><ul type="square"><li><b>Style Risk.</b> 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> 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 Fund&#8217;s 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, as amended (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 of 1986, as amended (Code), which, if applicable, might have adversely affected the performance of the Collective Fund. <br/><br/> 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 Fund&#8217;s and the Fund&#8217;s total returns before taxes have varied from year to year, while the table compares the Collective Fund&#8217;s and the Fund&#8217;s 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 Fund&#8217;s 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 bmofunds.com. <b>Class I&#8212;Annual Total Returns</b> (calendar years 2008-2017) The return for the Class I shares of the Fund from January 1, 2018 through September 30, 2018 was 1.43%. <br/><br/>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">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="right">Quarter&nbsp;Ended</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="right">Returns</td> <td valign="bottom">&nbsp;</td></tr> <tr> <td valign="top">Best quarter</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6/30/2009</td> <td valign="bottom" nowrap="nowrap">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11.41%</td> <td valign="bottom" nowrap="nowrap">&nbsp;</td></tr> <tr> <td valign="top">Worst quarter</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12/31/2008 </td> <td valign="bottom" nowrap="nowrap">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9.39)%</td> <td valign="bottom" nowrap="nowrap">&nbsp;</td></tr></table> <b>Average Annual Total Returns</b> through 12/31/17 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 investor&#8217;s 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. <br/><br/> The Return After Taxes on Distributions and Sale of Fund Shares may be higher than other return figures when a capital loss is realized on the sale of Fund shares which provides an assumed tax benefit to the shareholder that increases the after-tax return. <br/><br/> The Bloomberg Barclays U.S. Aggregate Bond Index (BBUABI) 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-backed 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. <br/><br/> The Lipper Mixed-Asset Target Allocation Conservative Funds Index (LMATACFI) tracks the total return performance of the 30 largest mutual funds included in this Lipper category. Total Annual Fund Operating Expenses shown will not correlate to the Fund&#8217;s ratio of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses. December 31, 2019 An investment in the Fund is not a deposit of BMO Harris Bank N.A., or any of its affiliates, and is not insured or guaranteed by the FDIC or any other government agency. The net asset value of the Fund will vary, and you could lose money by investing in the Fund. 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 Fund&#8217;s and the Fund&#8217;s total returns before taxes have varied from year to year, while the table compares the Collective Fund&#8217;s and the Fund&#8217;s average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives. Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes. bmofunds.com 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 are shown only for Class I and after-tax returns for Class Y, Class R3, and Class R6 will vary. The Return After Taxes on Distributions and Sale of Fund Shares may be higher than other return figures when a capital loss is realized on the sale of Fund shares which provides an assumed tax benefit to the shareholder that increases the after-tax return. The Bloomberg Barclays U.S. Aggregate Bond Index (BBUABI) 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-backed 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.<br/><br/> The Lipper Mixed-Asset Target Allocation Conservative Funds Index (LMATACFI) tracks the total return performance of the 30 largest mutual funds included in this Lipper category. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.005 0 0.006 0.0036 0.0035 0.002 0.0058 0.0058 0.0058 0.0058 0.0118 0.0094 0.0143 0.0078 -0.003 -0.0031 -0.003 -0.003 0.0088 0.0063 0.0113 0.0048 90 64 115 49 345 269 423 219 620 490 753 404 1405 1126 1687 938 0.1071 0.0444 0.1052 0.0419 0.1125 0.0488 0.0354 0.0244 0.0878 0.0381 0.1102 0.0616 0.0532 0.0894 0.0499 0.0473 0.0723 0.0452 0.041 0.0354 0.021 0.04 0.0878 0.0498 0.0465 0.31 The return for the Class I shares of the Fund from January 1, 2018 through September 30, 2018 2018-09-30 0.0143 Best quarter 2009-06-30 0.1141 Worst quarter 2008-12-31 -0.0939 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExample000014 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.bmofunds.com/role/ScheduleShareholderFees000012 column period compact * ~</div> N-1A 90 64 115 49 345 269 423 219 620 490 753 404 1405 1126 1687 938 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleExpenseExampleNoRedemption000015 column period compact * ~</div> -0.2015 0.2318 0.1228 0.0071 0.1191 0.0982 0.0587 -0.0186 0.0646 0.1102 <div style="display:none">~ http://www.bmofunds.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> 1994-07-31 2014-05-30 2014-05-30 2014-05-30 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 ratio 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 its investment advisory fee and reimburse expenses to the extent necessary to prevent class total annual operating expenses (excluding interest, taxes, brokerage commissions, other investment-related costs, and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business, and Acquired Fund Fees and Expenses) from exceeding 0.30% for Class Y, 0.05% for Class I, 0.55% for Class R3, and (0.10)% for Class R6 through December 31, 2019. This expense limitation agreement may not be terminated prior to December 31, 2019 without the consent of the Fund’s Board of Directors, unless terminated due to the termination of the investment advisory agreement. 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BMO Moderate Allocation Fund
BMO Moderate Allocation Fund
Investment Objective:
To provide total investment return from income and appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
<b>Shareholder Fees (fees paid directly from your investment) </b>
Shareholder Fees - BMO Moderate Allocation Fund
Class Y
Class I
Class R3
Class R6
Maximum Sales Charge (Load) Imposed on Purchases none none none none
Redemption Fee none none none none
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Annual Fund Operating Expenses - BMO Moderate Allocation Fund
Class Y
Class I
Class R3
Class R6
Management Fees none none none none
Distribution (12b-1) Fees none none 0.50% none
Other Expenses 0.60% 0.36% 0.35% 0.20%
Acquired (underlying) Fund Fees and Expenses [1] 0.58% 0.58% 0.58% 0.58%
Total Annual Fund Operating Expenses 1.18% 0.94% 1.43% 0.78%
Fee Waiver and Expense Reimbursement [2] (0.30%) (0.31%) (0.30%) (0.30%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement [2] 0.88% 0.63% 1.13% 0.48%
[1] 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 ratio of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.
[2] BMO Asset Management Corp. (Adviser) has agreed to waive or reduce its investment advisory fee and reimburse expenses to the extent necessary to prevent class total annual operating expenses (excluding interest, taxes, brokerage commissions, other investment-related costs, and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business, and Acquired Fund Fees and Expenses) from exceeding 0.30% for Class Y, 0.05% for Class I, 0.55% for Class R3, and (0.10)% for Class R6 through December 31, 2019. This expense limitation agreement may not be terminated prior to December 31, 2019 without the consent of the Fund’s Board of Directors, unless terminated due to the termination of the investment advisory agreement.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, whether you redeem all of your shares at the end of those periods or not. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are as shown in the table and remain the same. The costs in the one-year example and for the first year of the three-, five-, and ten-year examples reflect the Adviser’s agreement to waive fees and reimburse expenses through December 31, 2019. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example - BMO Moderate Allocation Fund - USD ($)
Class Y
Class I
Class R3
Class R6
1 Year $ 90 $ 64 $ 115 $ 49
3 Years 345 269 423 219
5 Years 620 490 753 404
10 Years $ 1,405 $ 1,126 $ 1,687 $ 938
Expense Example, No Redemption - BMO Moderate Allocation Fund - USD ($)
Class Y
Class I
Class R3
Class R6
1 Year $ 90 $ 64 $ 115 $ 49
3 Years 345 269 423 219
5 Years 620 490 753 404
10 Years $ 1,405 $ 1,126 $ 1,687 $ 938
Portfolio Turnover
The Fund incurs transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 31% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests primarily in other BMO mutual funds representing a variety of asset classes (the underlying funds) according to an asset allocation strategy developed by the Adviser. The Adviser may add unaffiliated funds to the underlying funds in its discretion and periodically may rebalance or modify the asset mix and change the underlying funds. 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 securities, 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 Fund’s total assets, is set forth below.
BMO Fund Equity Fixed 
Income
Alternatives Money 
Market
Funds
Conservative Allocation 10% - 30% 60% - 80% 0% - 15% 0% - 10%
Moderate Allocation 30% - 50% 40% - 60% 0% - 15% 0% - 10%
Balanced Allocation 50% - 70% 25% - 45% 0% - 15% 0% - 10%
Growth Allocation 70% - 90% 5% - 25% 0% - 15% 0% - 10%
Aggressive Allocation 90% - 100% 0% 0% - 10% 0% - 10%

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 Fund’s investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the fund’s investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process.

The underlying funds invest their assets directly in equity securities, fixed income securities, derivatives and other alternative investments, 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, money market securities, and certain derivative instruments including currency and index-related futures and forwards for both hedging and investment purposes.

For temporary defensive purposes during unusual economic or market conditions or for liquidity purposes, the Fund may invest up to 100% of its assets directly in cash, money market funds, and other money market instruments, repurchase agreements, and other short-term obligations. When the Fund engages in such activities, it may not achieve its investment objective.
Principal Risks
The Fund cannot assure that it will achieve its investment objective. An investment in the Fund is not a deposit of BMO Harris Bank N.A., or any of its affiliates, and is not insured or guaranteed by the FDIC or any other government agency.

This section describes the principal risks associated with the Fund’s 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 Adviser’s 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 Adviser’s allocation choices. The selection of the underlying funds and the allocation of the Fund’s 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 Fund’s 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.

Derivatives Risks. Direct investment in derivatives involves the same risks described as part of the “Underlying Fund Investment Risk” below.

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 Fund’s 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.
  • Asset-Backed/Mortgage-Backed Securities Risk. Asset-backed and mortgage-backed securities are subject to risks of prepayment. An underlying fund’s yield will be reduced if cash from prepaid securities is reinvested in securities with lower interest rates. The risk of prepayment also may decrease the value of mortgage-backed securities. Asset-backed securities may have a higher level of default and recovery risk than mortgage-backed securities. Both of these types of securities may decline in value because of mortgage foreclosures or defaults on the underlying obligations. Credit risk is greater for mortgage-backed and asset-backed securities that are subordinate to another security.
  • Derivatives Risk. The performance of derivative instruments depends largely on the performance of the underlying reference instrument and the portfolio manager’s 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 fund’s 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 fund’s 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:
    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.
  • 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.
  • 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.
  • Fixed Income Risk. Interest rates rise and fall over time, which will affect an underlying fund’s yield and share price. The credit quality of a portfolio investment could also cause an underlying fund’s 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 fund’s yield or share price.
  • 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 fund’s total return.
  • Government Obligations Risk. No assurance can be given that the U.S. government will provide financial support to U.S. government-sponsored agencies or instrumentalities where it is not obligated to do so by law (such as Fannie Mae or Freddie Mac). As a result, a risk exists that these entities will default on a financial obligation.
  • 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.
  • 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 fund’s large-, mid-, or small-cap holdings could reduce performance.
  • 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 fund’s performance.
  • 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 fund’s performance may be more susceptible to any economic, business or other developments that generally affect that sector.
  • 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.
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 Fund’s 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, as amended (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 of 1986, as amended (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 Fund’s and the Fund’s total returns before taxes have varied from year to year, while the table compares the Collective Fund’s and the Fund’s 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 Fund’s 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 bmofunds.com.
<b>Class I—Annual Total Returns</b> (calendar years 2008-2017)
Bar Chart
The return for the Class I shares of the Fund from January 1, 2018 through September 30, 2018 was 1.43%.

During the periods shown in the bar chart for the Fund:
    Quarter Ended      Returns  
Best quarter     6/30/2009         11.41%  
Worst quarter     12/31/2008         (9.39)%  
<b>Average Annual Total Returns</b> through 12/31/17
Average Annual Total Returns - BMO Moderate Allocation Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class I 11.02% 6.16% 5.32%   Jul. 31, 1994
Class I | Return After Taxes on Distributions 8.94% 4.99% 4.73%    
Class I | Return After Taxes on Distributions and Sale of Fund Shares 7.23% 4.52% 4.10%    
Class I | BBUABI (reflects no deduction for fees, expenses or taxes) 3.54% 2.10% 4.00%    
Class I | LMATACFI (reflects deduction of fees and no deduction for sales charges or taxes) 8.78% 4.98% 4.65%    
Class Y 10.71%     4.44% May 30, 2014
Class R3 10.52%     4.19% May 30, 2014
Class R6 11.25%     4.88% May 30, 2014
Class R6 | BBUABI (reflects no deduction for fees, expenses or taxes) 3.54%     2.44%  
Class R6 | LMATACFI (reflects deduction of fees and no deduction for sales charges or taxes) 8.78%     3.81%  
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 investor’s 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 Return After Taxes on Distributions and Sale of Fund Shares may be higher than other return figures when a capital loss is realized on the sale of Fund shares which provides an assumed tax benefit to the shareholder that increases the after-tax return.

The Bloomberg Barclays U.S. Aggregate Bond Index (BBUABI) 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-backed 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 (LMATACFI) tracks the total return performance of the 30 largest mutual funds included in this Lipper category.

XML 11 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BMO FUNDS, INC.
Prospectus Date rr_ProspectusDate Dec. 28, 2018
BMO Moderate Allocation Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading BMO Moderate Allocation Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock To provide total investment return from income and appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment) </b>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination December 31, 2019
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund incurs transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 31% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 31.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Total Annual Fund Operating Expenses shown will not correlate to the Fund’s ratio of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other 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 Fund’s operating expenses are as shown in the table and remain the same. The costs in the one-year example and for the first year of the three-, five-, and ten-year examples reflect the Adviser’s agreement to waive fees and reimburse expenses through December 31, 2019. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests primarily in other BMO mutual funds representing a variety of asset classes (the underlying funds) according to an asset allocation strategy developed by the Adviser. The Adviser may add unaffiliated funds to the underlying funds in its discretion and periodically may rebalance or modify the asset mix and change the underlying funds. 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 securities, 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 Fund’s total assets, is set forth below.
BMO Fund Equity Fixed 
Income
Alternatives Money 
Market
Funds
Conservative Allocation 10% - 30% 60% - 80% 0% - 15% 0% - 10%
Moderate Allocation 30% - 50% 40% - 60% 0% - 15% 0% - 10%
Balanced Allocation 50% - 70% 25% - 45% 0% - 15% 0% - 10%
Growth Allocation 70% - 90% 5% - 25% 0% - 15% 0% - 10%
Aggressive Allocation 90% - 100% 0% 0% - 10% 0% - 10%

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 Fund’s investment in one or several underlying funds. The underlying fund selections are made based on several considerations, including the fund’s investment team expertise, style or asset class exposures, portfolio characteristics, risk profile, and investment process.

The underlying funds invest their assets directly in equity securities, fixed income securities, derivatives and other alternative investments, 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, money market securities, and certain derivative instruments including currency and index-related futures and forwards for both hedging and investment purposes.

For temporary defensive purposes during unusual economic or market conditions or for liquidity purposes, the Fund may invest up to 100% of its assets directly in cash, money market funds, and other money market instruments, repurchase agreements, and other short-term obligations. When the Fund engages in such activities, it may not achieve its investment objective.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock 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 Fund’s 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 Adviser’s 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 Adviser’s allocation choices. The selection of the underlying funds and the allocation of the Fund’s 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 Fund’s 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.

Derivatives Risks. Direct investment in derivatives involves the same risks described as part of the “Underlying Fund Investment Risk” below.

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 Fund’s 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.
  • Asset-Backed/Mortgage-Backed Securities Risk. Asset-backed and mortgage-backed securities are subject to risks of prepayment. An underlying fund’s yield will be reduced if cash from prepaid securities is reinvested in securities with lower interest rates. The risk of prepayment also may decrease the value of mortgage-backed securities. Asset-backed securities may have a higher level of default and recovery risk than mortgage-backed securities. Both of these types of securities may decline in value because of mortgage foreclosures or defaults on the underlying obligations. Credit risk is greater for mortgage-backed and asset-backed securities that are subordinate to another security.
  • Derivatives Risk. The performance of derivative instruments depends largely on the performance of the underlying reference instrument and the portfolio manager’s 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 fund’s 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 fund’s 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:
    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.
  • 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.
  • 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.
  • Fixed Income Risk. Interest rates rise and fall over time, which will affect an underlying fund’s yield and share price. The credit quality of a portfolio investment could also cause an underlying fund’s 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 fund’s yield or share price.
  • 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 fund’s total return.
  • Government Obligations Risk. No assurance can be given that the U.S. government will provide financial support to U.S. government-sponsored agencies or instrumentalities where it is not obligated to do so by law (such as Fannie Mae or Freddie Mac). As a result, a risk exists that these entities will default on a financial obligation.
  • 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.
  • 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 fund’s large-, mid-, or small-cap holdings could reduce performance.
  • 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 fund’s performance.
  • 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 fund’s performance may be more susceptible to any economic, business or other developments that generally affect that sector.
  • 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.
Risk Lose Money [Text] rr_RiskLoseMoney The net asset value of the Fund will vary, and you could lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution 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.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Fund Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock 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 Fund’s 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, as amended (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 of 1986, as amended (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 Fund’s and the Fund’s total returns before taxes have varied from year to year, while the table compares the Collective Fund’s and the Fund’s 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 Fund’s 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 bmofunds.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns 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 Fund’s and the Fund’s total returns before taxes have varied from year to year, while the table compares the Collective Fund’s and the Fund’s average annual total returns to the returns of a broad measure of market performance and an index of funds with similar investment objectives.
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex The Bloomberg Barclays U.S. Aggregate Bond Index (BBUABI) 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-backed 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.<br/><br/> The Lipper Mixed-Asset Target Allocation Conservative Funds Index (LMATACFI) tracks the total return performance of the 30 largest mutual funds included in this Lipper category.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress bmofunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Please keep in mind that past performance does not represent how the Fund will perform in the future both before and after taxes.
Bar Chart [Heading] rr_BarChartHeading <b>Class I—Annual Total Returns</b> (calendar years 2008-2017)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The return for the Class I shares of the Fund from January 1, 2018 through September 30, 2018 was 1.43%.

During the periods shown in the bar chart for the Fund:
    Quarter Ended      Returns  
Best quarter     6/30/2009         11.41%  
Worst quarter     12/31/2008         (9.39)%  
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Returns</b> through 12/31/17
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate 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.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns shown are not relevant to investors holding shares through tax-deferred programs, such as IRAs or 401(k) plans.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for Class I and after-tax returns for Class Y, Class R3, and Class R6 will vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher The Return After Taxes on Distributions and Sale of Fund Shares may be higher than other return figures when a capital loss is realized on the sale of Fund shares which provides an assumed tax benefit to the shareholder that increases the after-tax return.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock 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 investor’s 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 Return After Taxes on Distributions and Sale of Fund Shares may be higher than other return figures when a capital loss is realized on the sale of Fund shares which provides an assumed tax benefit to the shareholder that increases the after-tax return.

The Bloomberg Barclays U.S. Aggregate Bond Index (BBUABI) 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-backed 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 (LMATACFI) tracks the total return performance of the 30 largest mutual funds included in this Lipper category.
BMO Moderate Allocation Fund | Class Y  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets none
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.60%
Acquired (underlying) Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.58% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.18%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.30%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.88% [2]
1 Year rr_ExpenseExampleYear01 $ 90
3 Years rr_ExpenseExampleYear03 345
5 Years rr_ExpenseExampleYear05 620
10 Years rr_ExpenseExampleYear10 1,405
1 Year rr_ExpenseExampleNoRedemptionYear01 90
3 Years rr_ExpenseExampleNoRedemptionYear03 345
5 Years rr_ExpenseExampleNoRedemptionYear05 620
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,405
1 Year rr_AverageAnnualReturnYear01 10.71%
Since Inception rr_AverageAnnualReturnSinceInception 4.44%
Inception Date rr_AverageAnnualReturnInceptionDate May 30, 2014
BMO Moderate Allocation Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets none
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.36%
Acquired (underlying) Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.58% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.94%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.31%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.63% [2]
1 Year rr_ExpenseExampleYear01 $ 64
3 Years rr_ExpenseExampleYear03 269
5 Years rr_ExpenseExampleYear05 490
10 Years rr_ExpenseExampleYear10 1,126
1 Year rr_ExpenseExampleNoRedemptionYear01 64
3 Years rr_ExpenseExampleNoRedemptionYear03 269
5 Years rr_ExpenseExampleNoRedemptionYear05 490
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,126
2008 rr_AnnualReturn2008 (20.15%)
2009 rr_AnnualReturn2009 23.18%
2010 rr_AnnualReturn2010 12.28%
2011 rr_AnnualReturn2011 0.71%
2012 rr_AnnualReturn2012 11.91%
2013 rr_AnnualReturn2013 9.82%
2014 rr_AnnualReturn2014 5.87%
2015 rr_AnnualReturn2015 (1.86%)
2016 rr_AnnualReturn2016 6.46%
2017 rr_AnnualReturn2017 11.02%
Year to Date Return, Label rr_YearToDateReturnLabel The return for the Class I shares of the Fund from January 1, 2018 through September 30, 2018
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.43%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 11.41%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (9.39%)
1 Year rr_AverageAnnualReturnYear01 11.02%
5 Years rr_AverageAnnualReturnYear05 6.16%
10 Years rr_AverageAnnualReturnYear10 5.32%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 1994
BMO Moderate Allocation Fund | Class R3  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets none
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.35%
Acquired (underlying) Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.58% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.43%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.30%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.13% [2]
1 Year rr_ExpenseExampleYear01 $ 115
3 Years rr_ExpenseExampleYear03 423
5 Years rr_ExpenseExampleYear05 753
10 Years rr_ExpenseExampleYear10 1,687
1 Year rr_ExpenseExampleNoRedemptionYear01 115
3 Years rr_ExpenseExampleNoRedemptionYear03 423
5 Years rr_ExpenseExampleNoRedemptionYear05 753
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,687
1 Year rr_AverageAnnualReturnYear01 10.52%
Since Inception rr_AverageAnnualReturnSinceInception 4.19%
Inception Date rr_AverageAnnualReturnInceptionDate May 30, 2014
BMO Moderate Allocation Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Redemption Fee rr_RedemptionFeeOverRedemption none
Management Fees rr_ManagementFeesOverAssets none
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.20%
Acquired (underlying) Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.58% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.78%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.30%) [2]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.48% [2]
1 Year rr_ExpenseExampleYear01 $ 49
3 Years rr_ExpenseExampleYear03 219
5 Years rr_ExpenseExampleYear05 404
10 Years rr_ExpenseExampleYear10 938
1 Year rr_ExpenseExampleNoRedemptionYear01 49
3 Years rr_ExpenseExampleNoRedemptionYear03 219
5 Years rr_ExpenseExampleNoRedemptionYear05 404
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 938
1 Year rr_AverageAnnualReturnYear01 11.25%
Since Inception rr_AverageAnnualReturnSinceInception 4.88%
Inception Date rr_AverageAnnualReturnInceptionDate May 30, 2014
BMO Moderate Allocation Fund | Return After Taxes on Distributions | Class I  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.94%
5 Years rr_AverageAnnualReturnYear05 4.99%
10 Years rr_AverageAnnualReturnYear10 4.73%
BMO Moderate Allocation Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class I  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.23%
5 Years rr_AverageAnnualReturnYear05 4.52%
10 Years rr_AverageAnnualReturnYear10 4.10%
BMO Moderate Allocation Fund | BBUABI (reflects no deduction for fees, expenses or taxes) | Class I  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.54%
5 Years rr_AverageAnnualReturnYear05 2.10%
10 Years rr_AverageAnnualReturnYear10 4.00%
BMO Moderate Allocation Fund | BBUABI (reflects no deduction for fees, expenses or taxes) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.54%
Since Inception rr_AverageAnnualReturnSinceInception 2.44%
BMO Moderate Allocation Fund | LMATACFI (reflects deduction of fees and no deduction for sales charges or taxes) | Class I  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.78%
5 Years rr_AverageAnnualReturnYear05 4.98%
10 Years rr_AverageAnnualReturnYear10 4.65%
BMO Moderate Allocation Fund | LMATACFI (reflects deduction of fees and no deduction for sales charges or taxes) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.78%
Since Inception rr_AverageAnnualReturnSinceInception 3.81%
[1] 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 ratio of expenses to average net assets appearing in the Financial Highlights tables, which do not include Acquired Fund Fees and Expenses.
[2] BMO Asset Management Corp. (Adviser) has agreed to waive or reduce its investment advisory fee and reimburse expenses to the extent necessary to prevent class total annual operating expenses (excluding interest, taxes, brokerage commissions, other investment-related costs, and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of the Fund’s business, and Acquired Fund Fees and Expenses) from exceeding 0.30% for Class Y, 0.05% for Class I, 0.55% for Class R3, and (0.10)% for Class R6 through December 31, 2019. This expense limitation agreement may not be terminated prior to December 31, 2019 without the consent of the Fund’s Board of Directors, unless terminated due to the termination of the investment advisory agreement.
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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BMO FUNDS, INC.
Prospectus Date rr_ProspectusDate Dec. 28, 2018
Document Creation Date dei_DocumentCreationDate Jan. 07, 2019
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