0001193125-21-303158.txt : 20211020 0001193125-21-303158.hdr.sgml : 20211020 20211020171401 ACCESSION NUMBER: 0001193125-21-303158 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20211020 DATE AS OF CHANGE: 20211020 SUBJECT COMPANY: 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: 425 SEC ACT: 1934 Act SEC FILE NUMBER: 811-58433 FILM NUMBER: 211334870 BUSINESS ADDRESS: STREET 1: 790 N. WATER STREET STREET 2: SUITE 1100 CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 800-236-3863 MAIL ADDRESS: STREET 1: 790 N. WATER STREET STREET 2: SUITE 1100 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 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GOLDMAN SACHS TRUST CENTRAL INDEX KEY: 0000822977 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: 71 SOUTH WACKER DRIVE STREET 2: C/O GOLDMAN SACHS & CO CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126554400 MAIL ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 FORMER COMPANY: FORMER CONFORMED NAME: GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19910711 FORMER COMPANY: FORMER CONFORMED NAME: SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19900104 CENTRAL INDEX KEY: 0000822977 S000009242 Financial Square Government Fund C000025196 Institutional Shares FGTXX CENTRAL INDEX KEY: 0000889366 S000000749 BMO Prime Money Market Fund C000002157 Class Y MARXX CENTRAL INDEX KEY: 0000822977 S000009242 Financial Square Government Fund C000025197 Administration Shares FOAXX CENTRAL INDEX KEY: 0000889366 S000000749 BMO Prime Money Market Fund C000002156 Premier Class MAIXX CENTRAL INDEX KEY: 0000822977 S000009244 Goldman Sachs Investor Tax-Exempt Money Market Fund C000025210 Class I Shares FTXXX CENTRAL INDEX KEY: 0000889366 S000000750 BMO Tax-Free Money Market Fund C000002159 Premier Class MFIXX CENTRAL INDEX KEY: 0000822977 S000009244 Goldman Sachs Investor Tax-Exempt Money Market Fund C000025211 Administration Shares FEAXX CENTRAL INDEX KEY: 0000889366 S000000750 BMO Tax-Free Money Market Fund C000002158 Class Y MTFXX CENTRAL INDEX KEY: 0000822977 S000051191 Goldman Sachs Investor Money Market Fund C000161182 Class I Shares FMJXX CENTRAL INDEX KEY: 0000889366 S000000751 BMO Government Money Market Fund C000002161 Class Y MGYXX CENTRAL INDEX KEY: 0000822977 S000051191 Goldman Sachs Investor Money Market Fund C000166002 Administration Shares FMKXX CENTRAL INDEX KEY: 0000889366 S000000751 BMO Government Money Market Fund C000002160 Premier Class MGNXX 425 1 d198041d425.htm GOLDMAN SACHS TRUST Goldman Sachs Trust
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Filed by Goldman Sachs Trust pursuant to Rule 425 under the

Securities Act of 1933 and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

 

Subject Company: BMO Funds, Inc.

 

Investment Company Act File Number: 811-58433

 

  

115 S LaSalle St.

11th Floor

Chicago, IL 60603

PRODUCT ALERT

BMO Funds – Money Market Fund Reorganizations FAQ

   October 20, 2021

 

 

 

1. What has happened?

In connection with the decision to exit the asset management business in the United States, BMO Asset Management Corp. (“BAMC”) recommended that the BMO Funds Board approve the BMO Money Market Fund reorganizations detailed below. On October 18, 2021, after a thoughtful review and analysis, the BMO Funds Board of Directors approved the planned reorganizations, which are subject to shareholder approval.

2. What is the timeline?

A supplement to each Fund’s prospectus announcing the Plan of Reorganization was filed on October 20, 2021. SEC Form N-14, which is also known as the combined prospectus/proxy statement, will be filed in the fourth quarter of 2021. The N-14 contains significant comparative fund information needed for shareholders to make an educated decision about whether or not to approve the recommended action. A joint meeting of shareholders of the Merging Funds is expected to take place during the first quarter of 2022 at which they will be asked to consider and vote on a Plan of Reorganization with respect to their Merging Fund. Pending shareholder approvals, the Merging Funds are scheduled to merge into their respective Acquiring Funds starting in February 2022.

3. What happens when a reorganization proposal is approved by shareholders?

Shareholders of each BMO Money Market Fund as of the closing date will become shareholders of the corresponding Acquiring Fund, receiving shares of the Acquiring Fund equal in aggregate value to the shares of the BMO Money Market Fund held by the shareholders prior to the applicable Reorganization, which are expected to be $1.00 per share.

4. What happens if a reorganization proposal is not approved by shareholders?

Funds that fail to receive the necessary votes to approve the proposed reorganizations in time for the joint meeting of shareholders will have their meeting date extended so that the necessary votes may be obtained. If enough votes to approve the proposed reorganizations are not received by the subsequent shareholder meeting date, a Plan of Liquidation may be pursued, which also requires shareholder approval.

5. When can I start having discussions with our distribution partners and financial advisors regarding the Plan of Reorganization for any of the Funds?

The prospectus supplement was filed on October 20, 2021. This is a public filing and any general questions related to the filing may be addressed with financial advisors at that time. Specific questions related to the detailed comparisons between Merging Funds and Acquiring Funds may be addressed following the filing of the N-14.

 

FOR INTERNAL USE ONLY


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115 S LaSalle St.

11th Floor

Chicago, IL 60603

PRODUCT ALERT

BMO Funds – Money Market Fund Reorganizations FAQ

   October 20, 2021

 

 

 

6. Will my portfolio management team be changing?

For all of the BMO Money Market Funds, the portfolio management teams will be changing upon the completion of the reorganizations.

7. Will the ticker symbol for my fund change?

Yes. All of the BMO Money Market Funds will be merging into different legal entities. The new tickers are known for the BMO Funds merging into existing Goldman Sachs Money Market Funds and are reflected in the table below.

8. What will happen to the existing performance track record for my fund?

For all of the BMO Money Market Funds, the performance track records will cease to exist upon the completion of the reorganizations.

9. What will happen to the total expense ratios for my fund?

For all of the BMO Money Market Funds, the total expense ratios of the Acquiring Funds are detailed in the table below.

10. Will shareholders bear any of the expenses associated with the reorganizations?

Shareholders will not bear any reorganization expenses incurred in connection with the reorganizations.

11. What are the tax consequences associated with the reorganizations?

Each Reorganization is expected to qualify as a tax-free reorganization for U.S. federal income tax purposes. Accordingly, it is expected that Merging Fund shareholders who receive shares of the corresponding Acquiring Fund in a Reorganization will not recognize gain or loss as a direct result of the Reorganization and no Acquiring Fund will recognize gain or loss as a direct result of the Reorganization. Prior to the closing of each Reorganization, each Merging Fund expects to declare a distribution of all of its net investment income and net capital gains, if any. All or a portion of such distribution may be taxable to such Merging Fund’s shareholders for U.S. federal income tax purposes. To the extent that portfolio securities of an Merging Fund are sold in connection with any portfolio repositioning prior to the closing of a Reorganization, the Merging Fund may realize gains or losses, which may increase or decrease the net capital gains or net investment income to be distributed by such Merging Fund. As always, we recommend that shareholders review their individual situations with a tax advisor.

12. Who will be my primary contact going forward?

You should utilize your Regional Distribution Leaders as your primary contacts for further questions. BMO Investor Service representatives will be here through the close to assist you.

 

FOR INTERNAL USE ONLY


LOGO   
  

115 S LaSalle St.

11th Floor

Chicago, IL 60603

PRODUCT ALERT

BMO Funds – Money Market Fund Reorganizations FAQ

   October 20, 2021

 

 

 

Merging Fund and Acquiring Fund Details

 

   

 

Merging Fund

 

  Share Class   TER   Ticker   CUSIP         

 

Acquiring Fund

 

  Share Class   TER   Ticker   CUSIP
  BMO Government Money   Investor (Class Y)   0.46%   MGYXX   09658L786     Goldman Sachs Financial   Administration   0.43%   FOAXX   38141W265
  Market Fund   Premier   0.21%   MGNXX   09658L794     Square Government Fund   Institutional   0.18%   FGTXX   38141W273
  BMO Tax -Free Money   Investor (Class Y)   0.45%   MTFXX   09658L547     Goldman Sachs Investor   Administration   0.43%   FEAXX   38141W174
  Market Fund   Premier   0.20%   MFIXX   09658L554     Tax -Exempt Money Market   Class I   0.18%   FTXXX   38141W182
  BMO Prime Money Market   Investor (Class Y)   0.46%   MARXX   09658L679     Goldman Sachs Investor   Administration   0.43%   FMKXX   38148U569
 

Fund

  Premier   0.21%   MAIXX   09658L687     Money Market Fund   Class I   0.18%   FMJXX   38148U577

BMO Fund data as of 12/29/2020 prospectus update; Goldman Sachs data as of 3/30/2021 prospectus update

If you have any further questions, please contact Ben Jones or Pete Papageorgakis.

 

FOR INTERNAL USE ONLY

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