485BPOS 1 d812191d485bpos.htm BMO FUNDS, INC. BMO Funds, Inc.

As filed with the Securities and Exchange Commission on December 22, 2014

Registration No. 333-199874

 

 

 

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-14

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

  Pre-Effective Amendment No.         [  ]
  Post-Effective Amendment No. 1    [X]
  (Check appropriate box or boxes)   

BMO FUNDS, INC.

(Exact Name of Registrant as Specified in Charter)

111 East Kilbourn Avenue, Suite 200

Milwaukee, Wisconsin 53202

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, including Area Code: (800) 236-3863

John M. Blaser

111 East Kilbourn Avenue, Suite 200

Milwaukee, Wisconsin 53202

(Name and Address of Agent for Service)

Copies to:

Michael P. O’Hare, Esq.

Stradley, Ronon, Stevens & Young, LLP

2005 Market Street, Suite 2600

Philadelphia, PA 19103

It is proposed that this filing will become effective immediately pursuant to Rule 485(b) under the Securities Act of 1933, as amended.

 

 

 

EXPLANATORY NOTE

This Post-Effective Amendment No. 1 to the Registration Statement of BMO Funds, Inc. (“Registrant”) on Form N-14 hereby incorporates by reference (i) Part A of Registrant’s Registration Statement on Form N-14 (File No. 333-199874) filed with the Securities and Exchange Commission (the “SEC”) on December 5, 2014 pursuant to Rule 497 (c) of the Securities Act of 1933, as amended; and (ii) Part B of Registrant’s Registration Statement on Form N-14 (File No. 333-199874) filed with the SEC on December 3, 2014 as Pre-Effective Amendment No. 1 thereto .

The purpose of this Post-Effective Amendment No. 1 is to file as Exhibit 12 hereto the Opinion and Consent of Godfrey & Kahn, S.C., regarding certain tax matters.

PART C

BMO FUNDS, INC.

OTHER INFORMATION

Item 15.  Indemnification

Reference is made to Article IX of the By-Laws of BMO Funds, Inc. (the “Registrant”), and Section 4 of the Distribution Agreement between the Registrant and BMO Investment Distributors, LLC (formerly, M&I Distributors, LLC) (the “Distributor”).

The Registrant’s By-Laws provide for indemnification of its officers and directors to the fullest extent permitted by Wisconsin Business Corporation Law and applicable federal and state securities laws. Notwithstanding the foregoing, the By-Laws state that this indemnification will not protect any officer or director against liability to the Registrant or any shareholder by reason of his/her willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of such officer’s or director’s office.

The Distribution Agreement between the Registrant and the Distributor provides that the Registrant will indemnify the Distributor and any of its officers, directors, employees, and control persons against certain losses incurred under the securities laws or otherwise, arising out of or based upon any alleged untrue statement or omission of a material fact contained in the Registrant’s SEC filings or other documents and in certain other circumstances.

In addition, the Wisconsin Business Corporation Law requires the Registrant to indemnify each of its officers and directors against liability incurred by the officer or director in any proceeding to which the officer or director was a party because he or she is an officer or director, unless liability was incurred because the officer or director breached or failed to perform a duty owed to the Registrant and the breach or failure to perform constitutes (i) a willful failure to deal fairly with the Registrant or its shareholders in connection with a matter in which the officer or director has a material conflict of interest; (ii) a violation of criminal law, unless the officer or director had reasonable cause to believe that his or her conduct was lawful or no reasonable cause to believe it was unlawful; (iii) a transaction from which the officer or director derived an improper personal profit; or (iv) willful misconduct.

The Registrant’s directors and officers are insured under a policy of insurance maintained by the Registrant against certain liabilities that might be imposed as a result of actions, suit, or proceedings to which they are parties by reason of being or having been such directors or officers. In addition, each of the directors who is not an “interested person” (as defined under the Investment Company Act of 1940, as amended (the “1940 Act”)) of Registrant (a “Non-interested Director”) has entered into an indemnification agreement with Registrant, which agreement provides that the Registrant shall indemnify the Non-interested Director against certain liabilities which such director may incur while acting in the capacity as a director, officer, or employee of the Registrant to the fullest extent permitted by law, now or in the future, and requires indemnification and advancement of expenses unless prohibited by law. The indemnification agreement cannot be altered without the consent of the Non-interested Director and is not affected by amendment of the Articles of Incorporation. In addition, the indemnification agreement adopts certain presumptions and procedures which may make the process of indemnification and advancement of expenses more timely, efficient, and certain. In accordance with Section 17(h) of the 1940 Act, the indemnification agreement does not protect a Non-interested Director against any liability to the Registrant or its shareholders to which such Non-interested Director would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office.

 Item 16.  Exhibits.

 

Exhibit   
No.   		    Description         

Incorporated by

Reference to

    Filed Herewith
(1)(a)    Articles of Incorporation dated July 30, 1992         Exhibit to Post-Effective Amendment (“PEA”) No. 11 to Form N-1A Registration Statement filed October 21, 1994.     
(1)(b)    Amendment No. 1 to Articles of Incorporation dated August 11, 1992         Exhibit to PEA No. 11 to Form N-1A Registration Statement filed October 21, 1994.     
(1)(c)    Amendment No. 2 to Articles of Incorporation dated September 14, 1992         Exhibit to PEA No. 11 to Form N-1A Registration Statement filed October 21, 1994.     
(1)(d)    Amendment No. 3 to Articles of Incorporation dated April 26, 1993         Exhibit to PEA No. 11 to Form N-1A Registration Statement filed October 21, 1994.     
(1)(e)    Amendment No. 4 to Articles of Incorporation dated November 1, 1993         Exhibit to PEA No. 8 to Form N-1A Registration Statement filed December 28, 1993.     
(1)(f)    Amendment No. 5 to Articles of Incorporation dated July 25, 1994         Exhibit to PEA No. 11 to Form N-1A Registration Statement filed October 21, 1994.     
(1)(g)    Amendment No. 6 to Articles of Incorporation dated October 24, 1994         Exhibit to PEA No. 15 to Form N-1A Registration Statement filed June 17, 1996.     
(1)(h)    Amendment No. 7 to Articles of Incorporation dated July 22, 1996         Exhibit to PEA No. 17 to Form N-1A Registration Statement filed August 30, 1996.     
(1)(i)    Amendment No. 8 to Articles of Incorporation dated April 28, 1997         Exhibit to PEA No. 22 to Form N-1A Registration Statement filed October 21, 1998.     
(1)(j)    Amendment No. 9 to Articles of Incorporation dated October 26, 1998         Exhibit to PEA No. 27 to Form N-1A Registration Statement filed August 27, 1999.     
(1)(k)    Amendment No. 10 to Articles of Incorporation dated June 7, 1999         Exhibit to PEA No. 29 to Form N-1A Registration Statement filed October 29, 1999.     
(1)(l)    Amendment No. 11 to Articles of Incorporation dated January 31, 2000         Exhibit to PEA No. 31 to Form N-1A Registration Statement filed March 1, 2000.     
(1)(m)    Amendment No. 12 to Articles of Incorporation dated July 10, 2000         Exhibit to PEA No. 33 to Form N-1A Registration Statement filed October 30, 2000.     
(1)(n)    Amendment No. 13 to Articles of Incorporation dated February 26, 2004         Exhibit to PEA No. 42 to Form N-1A Registration Statement filed December 30, 2004.     
(1)(o)    Amendment No. 14 to Articles of Incorporation dated July 30, 2004         Exhibit to PEA No. 42 to Form N-1A Registration Statement filed December 30, 2004.     
(1)(p)    Amendment No. 15 to Articles of Incorporation dated June 21, 2005         Exhibit to PEA No. 46 to Form N-1A Registration Statement filed October 31, 2005.     
(1)(q)    Amendment No. 16 to Articles of Incorporation dated October 26, 2005         Exhibit to PEA No. 46 to Form N-1A Registration Statement filed October 31, 2005.     

 

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Exhibit   
No.   		    Description         

Incorporated by

Reference to

    Filed Herewith
(1)(r)    Amendment No. 17 to Articles of Incorporation dated May 7, 2007         Exhibit to PEA No. 49 to Form N-1A Registration Statement filed June 1, 2007.     
(1)(s)    Amendment No. 18 to Articles of Incorporation dated January 29, 2008         Exhibit to PEA No. 52 to Form N-1A Registration Statement filed January 29, 2008.     
(1)(t)    Amendment No. 19 to Articles of Incorporation dated December 11, 2008         Exhibit to PEA No. 55 to Form N-1A Registration Statement filed December 15, 2008.     
(1)(u)    Amendment No. 20 to Articles of Incorporation dated July 15, 2009         Exhibit to PEA No. 56 to Form N-1A Registration Statement filed July 16, 2009.     
(1)(v)    Amendment No. 21 to Articles of Incorporation dated May 11, 2010         Exhibit to PEA No. 64 to Form N-1A Registration Statement filed August 30, 2010.     
(1)(w)    Amendment No. 22 to Articles of Incorporation dated November 30, 2010         Exhibit to PEA No. 66 to Form N-1A Registration Statement filed December 15, 2010.     
(1)(x)    Amendment No. 23 to Articles of Incorporation dated February 3, 2011         Exhibit to PEA No. 70 to Form N-1A Registration Statement filed February 28, 2011.     
(1)(y)    Amendment No. 24 to Articles of Incorporation dated December 12, 2011         Exhibit to PEA No. 75 to Form N-1A Registration Statement filed December 23, 2011.     
(1)(z)    Amendment No. 25 to Articles of Incorporation dated December 28, 2011         Exhibit to PEA No. 76 to Form N-1A Registration Statement filed December 29, 2011.     
(1)(aa)    Amendment No. 26 to Articles of Incorporation dated September 7, 2012         Exhibit to PEA No. 79 to Form N-1A Registration Statement filed September 27, 2012.     
(1)(bb)    Amendment No. 27 to Articles of Incorporation dated September 25, 2012         Exhibit to PEA No. 79 to Form N-1A Registration Statement filed September 27, 2012.     
(1)(cc)    Amendment No. 28 to Articles of Incorporation dated May 17, 2013         Exhibit to PEA No. 84 to Form N-1A Registration Statement filed June 28, 2013.     
(1)(dd)    Amendment No. 29 to Articles of Incorporation dated June 28, 2013         Exhibit to PEA No. 84 to Form N-1A Registration Statement filed June 28, 2013.     
(1)(ee)    Amendment No. 30 to Articles of Incorporation dated August 16, 2013         Exhibit to PEA No. 87 to Form N-1A Registration Statement filed August 29, 2013.     
(1)(ff)    Amendment No. 31 to Articles of Incorporation dated August 27, 2013         Exhibit to PEA No. 89 to Form N-1A Registration Statement filed September 27, 2013.     
(1)(gg)    Amendment No. 32 to Articles of Incorporation dated December 23, 2013         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(1)(hh)    Amendment No. 33 to Articles of Incorporation dated February 27, 2014         Exhibit to PEA No. 95 to Form N-1A Registration Statement filed May 27, 2014.     
(1)(ii)    Amendment No. 34 to Articles of Incorporation dated March 27, 2014         Exhibit to PEA No. 95 to Form N-1A Registration Statement filed May 27, 2014.     

 

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Exhibit   
No.   		    Description         

Incorporated by

Reference to

    Filed Herewith
(1)(jj)    Amendment No. 35 to Articles of Incorporation dated May 23, 2014         Exhibit to PEA No. 95 to Form N-1A Registration Statement filed May 27, 2014.     
(1)(kk)    Amendment No. 36 to Articles of Incorporation dated July 29, 2014         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(1)(ll)    Form of Amendment No. 37 to Articles of Incorporation to be effective             , 2014         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(1)(mm)    Form of Amendment No. 38 to Articles of Incorporation to be effective December 19, 2014         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(2)    By-Laws As Amended and Restated through July 8, 2009         Exhibit to PEA No. 56 to Form N-1A Registration Statement filed July 16, 2009.     
(3)    Not Applicable               
(4)    Form of Agreement and Plan of Reorganization         Pre-Effective Amendment No. 1 to this Form N-14 Registration Statement filed on December 3, 2014 (filed as Appendix A to Part A).     
(5)    Instruments Defining Rights of Security Holders         Incorporated by reference to the Articles of Incorporation and By-Laws.     
(6)(a)    Form of Investment Advisory Contract with BMO Asset Management Corp. (f/k/a M&I Investment Management Corp.)         Appendix B to Definitive Proxy Statement on Schedule 14A filed August 24, 2011.     
(6)(b)    Form of Amended and Restated Schedules A and B to Investment Advisory Contract dated May 27, 2014         Exhibit to PEA No. 95 to Form N-1A Registration Statement filed May 27, 2014.     
(7)(a)    Distribution Agreement with BMO Investment Distributors, LLC (f/k/a M&I Distributors, LLC) dated July 5, 2011         Exhibit to PEA No. 72 to Form N-1A Registration Statement filed October 14, 2011.     
(7)(b)    Amended and Restated Schedule A to Distribution Agreement         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(8)    Not Applicable               
(9)(a)    Custodian Contract with Marshall & Ilsley Trust Company (now, BMO Harris Bank, N.A.) dated April 26, 1993         Exhibit to PEA No. 10 to Form N-1A Registration Statement filed July 1, 1994.     
(9)(b)    Amendment to Custodian Contract dated November 1, 1995         Exhibit to PEA No. 46 to Form N-1A Registration Statement filed October 31, 2005.     
(9)(c)    Amendment to Custodian Contract dated November 1, 2000         Exhibit to PEA No. 46 to Form N-1A Registration Statement filed October 31, 2005.     
(9)(d)    Amendment to Custodian Contract dated June 22, 2001         Exhibit to PEA No. 34 to Form N-1A Registration Statement filed October 29, 2001.     
(10)(a)    Amended and Restated Rule 12b-1 Plan effective December 27, 2013         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(10)(b)    Form of Sales and Services Agreement         Exhibit to PEA No. 53 to Form N-1A Registration Statement filed September 16, 2008.     

 

4

Exhibit   
No.   		    Description         

Incorporated by

Reference to

    Filed Herewith
(10)(c)    Multiple Class Plan, amended and restated effective December 27, 2013         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(11)    Opinion and Consent of Godfrey & Kahn, S.C. regarding the validity of shares to be issued by the Registrant         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(12)    Opinion and Consent of Godfrey & Kahn, S.C. regarding certain tax matters              X
(13)(a)    Administrative Services Agreement with M&I Trust Company dated January 1, 2000 and Amendment No. 1 thereto dated September 15, 2000         Exhibit to PEA No. 37 to Form N-1A Registration Statement filed October 30, 2003.     
(13)(b)    Amendment to Administrative Services Agreement dated June 22, 2001         Exhibit to PEA No. 34 to Form N-1A Registration Statement filed October 29, 2001.     
(13)(c)    Amendment to Administrative Services Agreement dated November 1, 2007         Exhibit to PEA No. 51 to Form N-1A Registration Statement filed November 30, 2007.     
(13)(d)    Amendment to Administrative Services Agreement dated July 1, 2008         Exhibit to PEA No. 53 to Form N-1A Registration Statement filed September 16, 2008.     
(13)(e)    Form of Fifth Amendment to Administrative Services Agreement         Exhibit to PEA No. 76 to Form N-1A Registration Statement filed December 29, 2011.     
(13)(f)    Form of Sixth Amendment to Administrative Services Agreement         Exhibit to PEA No. 95 to Form N-1A Registration Statement filed May 27, 2014.     
(13)(g)    Sub-Administration Agreement with UMB Fund Services, Inc. dated September 1, 2004         Exhibit to PEA No. 42 to Form N-1A Registration Statement filed December 30, 2004.     
(13)(h)    Form of Ninth Amended and Restated Schedule A to Sub-Administration Agreement         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(13)(i)    Shareholder Services Agreement dated July 5, 2011         Exhibit to PEA No. 72 to Form N-1A Registration Statement filed October 14, 2011.     
(13)(j)    Form of Amended and Restated Exhibit 1 of Shareholder Services Agreement         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013     
(13)(k)    Transfer Agency and Service Agreement with Boston Financial Data Services, Inc. dated June 30, 2011         Exhibit to PEA No. 76 to Form N-1A Registration Statement filed December 29, 2011.     
(13)(l)    Amendment to Transfer Agency Agreement dated December 21, 2012         Exhibit to PEA No. 81 to Form N-1A Registration Statement filed December 27, 2012.     
(13)(m)    Form of Amended Schedule A to Transfer Agency and Service Agreement effective September 30, 2013         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(13)(n)    Fund Accounting Agreement with UMB Fund Services, Inc. dated September 1, 2004         Exhibit to PEA No. 42 to Form N-1A Registration Statement filed December 30, 2004.     
(13)(o)    Form of Ninth Amended and Restated Schedule A to Fund Accounting Agreement with UMB Fund Services, Inc.         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     

 

5

Exhibit   
No.   		    Description         

Incorporated by

Reference to

    Filed Herewith
(13)(p)    Fund Accounting Agreement with State Street Bank and Trust Company (formerly Investors Bank & Trust Company) dated September 1, 2004         Exhibit to PEA No. 42 to Form N-1A Registration Statement filed December 30, 2004.     
(13)(q)    Amended and Restated Appendix A to Fund Accounting Agreement with State Street Bank & Trust Company         Exhibit to PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013.     
(13)(r)    Form of Amended and Restated Expense Limitation Agreement         Exhibit to PEA No. 89 to Form N-1A Registration Statement filed September 27, 2013.     
(13)(s)    Form of Amended and Restated Schedule A to Amended and Restated Expense Limitation Agreement         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(14)    Consent of Independent Registered Public Accounting Firm         Pre-Effective Amendment No. 1 to this Form N-14 Registration Statement filed on December 3, 2014.     
(15)    Not Applicable               
(16)    Power of Attorney         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(17)(a)    Form of Proxy         The initial filing of this Form N-14 Registration Statement filed on November 5, 2014.     
(17)(b)    Prospectus of BMO Aggressive Stock Fund and BMO Diversified Stock Fund dated December 27, 2013, as supplemented on September 12, 2014 and November 5, 2014         PEA No. 92 to Form N-1A Registration Statement filed December 27, 2013; Supplements incorporated by reference to Rule 497 filings made on each date listed.     
(17)(c)    Statement of Additional Information of BMO Aggressive Stock Fund and BMO Diversified Stock Fund dated May 27, 2014, as supplemented on July 29, 2014, September 12, 2014, and November 5, 2014         SAI incorporated by reference to PEA No. 95 to Form N-1A Registration Statement filed May 27, 2014; Supplements incorporated by reference to Rule 497 filings made on each date listed.     
(17)(d)    BMO Funds’ Annual Report to Shareholders for the Fiscal Year Ended August 31, 2014         Form N-CSR filed on October 31, 2014.     

Item 17.  Undertakings

 

  (1)

The undersigned Registrant agrees that prior to any public reoffering of the securities registered through use of a prospectus which is part of this Registration Statement by any person or party who is deemed to be an underwriter within the meaning of Rule 145(c) of the Securities Act of 1933, as amended (the “1933 Act”), the reoffering prospectus will contain the information called for by the applicable registration form for reofferings by persons who may be deemed underwriters, in addition to the information called for by other items of the applicable form.

 

    (2)

The undersigned Registrant agrees that every prospectus that is filed under paragraph (1) above will be filed as part of an amendment to the Registration Statement and will not be used until the amendment is effective, and that, in determining any liability under the 1933 Act, each post-effective amendment shall be deemed to be a new registration statement for the securities offered therein, and the offering of securities at that time shall be deemed to be the initial bona fide offering of them.

 

6

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this Post-Effective Amendment No. 1 to the Registration Statement on Form N-14 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Milwaukee and State of Wisconsin on the 22nd day of December, 2014.

 

    BMO FUNDS, INC.                                                 
  (Registrant)  
By:    /s/ John M. Blaser  
  John M. Blaser  
  President  

Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment No. 1 to the Registration Statement on Form N-14 has been signed by the following persons in the capacities and on the dates indicated.

 

Signature

        

Title

   

Date

     

/s/ John M. Blaser

John M. Blaser

      

President (principal executive officer) and

Director

    December 22, 2014   

/s/ Timothy M. Bonin

Timothy M. Bonin

       Treasurer (principal financial officer)    December 22, 2014   

*

Larry D. Armel

       Director    December 22, 2014   

*

Ridge A. Braunschweig

       Director   

December 22, 2014

   

*

Ellen M. Costello

       Director    December 22, 2014   

*

Benjamin M. Cutler

       Director    December 22, 2014   

*

John A. Lubs

       Director   

December 22, 2014

   

*

James Mitchell

       Director    December 22, 2014   

*

Barbara J. Pope

       Director    December 22, 2014   

 

*By:   

/s/ John M. Blaser

  John M. Blaser

As attorney-in-fact pursuant to Power of Attorney filed with the initial filing of this Form N-14 Registration Statement filed on November 5, 2014.

 

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