Statement of Additional Information for
Great-West Funds, dated May 1, 2013
Sam Moyn and Jeffrey Smith have been added as Assistant Portfolio Managers of the Fund. The
following changes are made to the Prospectus, Summary Prospectus and Statement of Additional Information, as applicable:
The section
entitled Portfolio Managers on page 3 of the Prospectus and Summary Prospectus is deleted and replaced with the following:
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Name
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Title
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Length of Service as Manager of
Fund
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Catherine Tocher, CFA
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Senior Vice President, Investments
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1993
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Thone Gdovin, CFA
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Portfolio Manager
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2013
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Sam Moyn
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Assistant Portfolio Manager
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2013
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Jeffrey Smith
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Assistant Portfolio Manager
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2013
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The information about the portfolio managers under the section entitled Investment Adviser on pages 8-9 of
the Prospectus is deleted and replaced with the following:
Catherine Tocher, CFA, Senior Vice President, Investments, has managed the
Fund since 1993. Ms. Tocher is also a Senior Vice President, Investments of GWL&A. Ms. Tocher joined the GWL&A Investments Department in 1987. In addition to the Fund, Ms. Tocher is the portfolio manager of the Great-West Bond
Index Fund, Great-West Money Market Fund, Great-West Short Duration Bond Fund, the stable value funds of GWCM and GWL&A, certain fixed income separate accounts of GWL&A, and the residential and commercial mortgage-backed securities portfolio
of GWL&As general account. Ms. Tocher was educated at the University of Manitoba, where she received a Bachelor of Commerce in Finance, with Honors.
Thone Gdovin, CFA, Portfolio Manager, has managed the Fund since 2013. Ms. Gdovin is also a Senior Manager of GWL&A. Ms. Gdovin joined the GWL&A Investments Department in 1997, departed
in 2000, and then rejoined GWL&A in 2004. In addition to the Fund, Ms. Gdovin is a portfolio manager of the Great-West Bond Index Fund, Great-West Money Market Fund, Great-West Short Duration Bond Fund, the stable value funds of GWCM and
GWL&A, and certain fixed income separate accounts of GWL&A. Ms. Gdovin received a B.A. in international trade and relations from the University of Northern Colorado and a M.A. in economics from Colorado State University.
Sam Moyn, Assistant Portfolio Manager, has managed the Fund since 2013. Mr. Moyn is also a Senior Portfolio Trader and Analyst of GWL&A.
Mr. Moyn joined the GWL&A Investments Department in 2000. In addition to the Fund, Mr. Moyn is an assistant portfolio manager of the Great-West Bond Index Fund, Great-West Short Duration Bond Fund, the stable value funds of GWCM and
GWL&A, and certain fixed income separate accounts of GWL&A. Mr. Moyn received a B.A. in business administration with an emphasis on finance and an M.B.A. from the University of Colorado.
Jeffrey Smith, Assistant Portfolio Manager, has managed the Fund since 2013. Mr. Smith is also an Assistant Manager, Structured Finance of
GWL&A. Mr. Smith joined the GWL&A Investments Department in 2006. In addition to the Fund, Mr. Smith is an assistant portfolio manager of the Great-West Bond Index Fund, Great-West
Short Duration bond Fund, the stable value funds of GWCM and GWL&A, and certain fixed income separate accounts of GWL&A. Mr. Smith received a B.A. in business communications from
Hanover College and an M.B.A. in finance and accounting from Regis University.
The sections entitled Great-West Money Market,
Great-West U.S. Government Mortgage Securities, Great-West Short Duration, and Great-West Bond Index Funds and Other Accounts Managed on page 68 of the Statement of Additional Information are deleted and replaced with the
following:
GREAT-WEST BOND INDEX, GREAT-WEST MONEY MARKET, GREAT-WEST SHORT DURATION BOND,
GREAT-WEST U.S. GOVERNMENT MORTGAGE SECURITIES FUNDS
The Great-West Bond Index, Great-West Money Market, Great-West Short Duration Bond and Great-West U.S. Government Mortgage Securities Funds are managed by an internal investment management team headed by
Catherine Tocher. Ms. Tocher has managed the Great-West Bond Index Fund since 2004, the Great-West Money Market Fund since 2000, the Great-West Short Duration Bond Fund since 2003, and the Great-West U.S. Government Mortgage Securities Fund
since 1993. Thone Gdovin, Portfolio Manager, has managed the Great-West Bond Index, Great-West Money Market, Great-West Short Duration Bond and Great-West U.S. Government Mortgage Securities Funds since 2013. Sam Moyn and Jeffrey Smith, each an
Assistant Portfolio Manager, have managed the Great-West Bond Index, Great-West Short Duration Bond and Great-West U.S. Government Mortgage Securities Funds since 2013.
Other Accounts Managed
The following table provides information regarding
registered investment companies other than the Funds, other pooled investment vehicles and other accounts over which the portfolio manager(s) also has day-to-day management responsibilities. The tables provide the numbers of such accounts, the total
assets in such accounts and the number of accounts and total assets whose fees are based on performance. The information is provided as of May 31, 2013.
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AUM Based Fees
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Performance Based
Fees
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Registered
Investment
Companies
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Other
Pooled
Investment
Vehicles
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Other Accounts
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Registered
Investment
Companies
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Other
Pooled
Investment
Vehicles
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Other
Accounts
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Portfolio
Manager
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Number
of
Accounts
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Total
Assets
($m)
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Number
of
Accounts
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Total
Assets
($m)
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Number
of
Accounts
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Total
Assets
($m)
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Number
of
Accounts
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Total
Assets
($m)
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Number
of
Accounts
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Total
Assets
($m)
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Number
of
Accounts
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Total
Assets
($m)
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Catherine Tocher
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0
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0
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4
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1,052
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45
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8,944
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0
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0
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0
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0
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0
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0
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Thone Gdovin
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0
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0
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4
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1,052
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45
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8,944
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0
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0
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0
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0
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0
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0
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Sam Moyn
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0
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0
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4
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1,052
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45
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8,944
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0
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0
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0
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0
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0
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0
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Jeffrey Smith
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0
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0
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4
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1,052
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45
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8,944
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0
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0
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0
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0
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0
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0
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This Supplement must be accompanied by, or read in conjunction with, the current Prospectus, Summary
Prospectus and Statement of Additional Information.
Please keep this Supplement for future reference.