-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BPzaXKmVGQlcVjt8jUu/TiEnKApCRLfpKLxG3eUlvFydRgFXjPJy2ERCQEJk71ja 7AfPJmIS/bJWFW0v2MWYWA== 0000021847-01-500070.txt : 20010626 0000021847-01-500070.hdr.sgml : 20010626 ACCESSION NUMBER: 0000021847-01-500070 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIBERTY FLOATING RATE FUND CENTRAL INDEX KEY: 0001068200 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 364251182 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 333-55540 FILM NUMBER: 1666914 BUSINESS ADDRESS: STREET 1: ONE FINANCIAL CTR CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 8003382550 MAIL ADDRESS: STREET 1: ONE FINANCIAL CTR CITY: BOSTON STATE: MA ZIP: 02111 FORMER COMPANY: FORMER CONFORMED NAME: LIBERTY STEIN ROE ADVISOR FLOATING RATE FUND DATE OF NAME CHANGE: 19991025 FORMER COMPANY: FORMER CONFORMED NAME: STEIN ROE FLOATING RATE INCOME TRUST DATE OF NAME CHANGE: 19980929 497 1 june_01supplement.txt SUPPLEMENT LIBERTY FLOATING RATE FUND Supplement to January 1, 2001 Statement of Additional Information (Replacing Supplements dated January 16, 2001 and June 18, 2001) The Fund's Statement of Additional Information is amended as follows: 1. The sub-caption Reinstatement Privilege under the caption PROGRAMS FOR REDUCING OR ELIMINATING SALES CHARGES is revised as follows: Reinstatement Privilege. An investor who has redeemed Class A, B or C shares may, upon request, reinstate within one year a portion or all of the proceeds of such sale in shares of Class A of any fund at the NAV next determined after LFS receives a reinstatement request and payment. Investors who desire to exercise this privilege should contact their FSF or LFS. Shareholders may exercise this Privilege an unlimited number of times. Exercise of this privilege does not alter the Federal income tax treatment of any capital gains realized on the prior sale of fund shares, but to the extent any such shares were sold at a loss, some or all of the loss may be disallowed for tax purposes. Consult your tax advisor. 2. A Special Meeting of Shareholders of the Fund (Special Meeting) was held on December 27, 2000. At the Special Meeting, each of Richard W. Lowry, Salvatore Macera, William E. Mayer, John J. Neuhauser and Anne-Lee Verville were elected as new Trustees of the Fund. Set forth below is information on each of the new Trustees:
Position held Name, Age; Address With the Trust Principal occupation(s) during past five years - ------------------ -------------- ---------------------------------------------- Richard W. Lowry, 64 Trustee Private Investor since 1987 (formerly Chairman and 10701 Charleston Drive Chief Executive Officer, U.S. Plywood Corporation Vero Beach, FL 32963 (building products manufacturer)). Salvatore Macera, 69 Trustee Private Investor since 1981 (formerly Executive Vice 26 Little Neck Lane President and Director of Itek Corporation New Seabury, MA 02649 (electronics)). William E. Mayer(1), 60 Trustee Managing Partner, Park Avenue Equity Partners (venture 500 Park Avenue, 5th Floor capital) since 1998; Founding Partner, Development New York, NY 10022 Capital LLC; Dean and Professor, College of Business and Management, University of Maryland prior thereto; Director of Lee Enterprises (print and on-line media), WR Hambrecht + Co. (financial service provider), Systech Retail Systems (retail industry technology provider). John J. Neuhauser, 57 Trustee Academic Vice President and Dean of Faculties, Boston 84 College Road College since August, 1999; Dean, Boston College Chestnut Hill, MA 02467-3838 School of Management prior thereto; Director of Saucony, Inc. (athletic footwear). Thomas E. Stitzel, 64 Trustee Business Consultant since 1999; Professor of Finance 2208 Tawny Woods Place and Dean prior thereto, College of Business, Boise Boise, ID 83706 State University prior thereto; Chartered Financial Analyst. Position held Name, Age; Address With the Trust Principal occupation(s) during past five years - ------------------ -------------- ---------------------------------------------- Anne-Lee Verville, 54 Trustee Chairman of the Board of Directors, Enesco Group, Inc. 359 Stickney Hill Road (designer, importer and distributor of giftware and Hopkinton, NH 03229 collectibles); Director of LearnSomething.com, Inc. (online education products and services); author and speaker on education systems needs; General Manager, Global Education Industry prior thereto (formerly President, Applications Solutions Division, IBM Corporation (global education and global applications)).
(1) Mr. Mayer is an "interested person," as defined in the Investment Company Act of 1940 (1940 Act) because he is a Director of WR Hambrecht + Co. (a registered broker-dealer). The Board of Trustees consists of the six new Trustees as well as the current Trustees, Ms. Kelly and Messrs. Hacker, Nelson and Theobald. Messrs. Bacon, Boyd and Cook did not stand for reelection and retired on December 27, 2000. The following table sets forth the compensation paid to Ms. Verville and Messrs. Lowry, Macera, Mayer, Neuhauser and Stitzel in their capacities as Trustees of the Liberty Funds complex(2): Total Compensation From the Fund Complex Paid to the Trustee Trustees for the Calendar Year Ended December 31, 2000 ------- ------------------------------------------------------ Mr. Lowry $ 99,000 Mr. Macera 98,000 Mr. Mayer 100,000 Mr. Neuhauser 101,210 Mr. Stitzel 97,000 Ms. Verville 94,667 (2) At December 31, 2000, the complex consisted of 49 open-end and 9 closed-end management investment company portfolios in the Liberty Funds Group - Boston and 17 open-end management investment portfolios in the Liberty Variable Investment Trust (together, the Fund Complex). The following persons were elected as officers of the Trust by the Trustees:
Name and Age Position with Trust Principal Occupation During Past Five Years ------------ ------------------- ------------------------------------------- J. Kevin Connaughton (36) Treasurer Treasurer of the Stein Roe Funds since February, 2001 (formerly Controller from May, 2000 to February, 2001); Treasurer of the Liberty Funds and of the Liberty All-Star Funds since December, 2000 (formerly Controller of the Liberty Funds and of the Liberty All-Star Funds from February, 1998 to October, 2000); Senior Vice President of LFG since January, 2001 (formerly Vice President from April, 2000 to January, 2001) (formerly Vice President of Colonial Management Associates, Inc. (CMA) from February, 1998 to October, 2000) (formerly Senior Tax Manager, Coopers & Lybrand, LLP from April, 1996 to January, 1998; Vice President, 440 Financial Group/First Data Investor Services Group from March, 1994 to April, 1996). Vicki Benjamin (39) Chief Accounting Chief Accounting Officer of the Stein Roe Funds, Officer Liberty Funds and Liberty All-Star Funds since June, 2001; Vice President of LFG since April, 2001 (formerly Vice President, Corporate Audit, State Street Bank and Trust Company from May, 1998 to April, 2001; Senior Audit Manager, Coopers & Lybrand from December, 1989 to May, 1998). Michelle G. Azrialy (32) Controller Controller of the Stein Roe Funds, Liberty Funds and Liberty All-Star Funds since May, 2001; Vice President of LFG since March, 2001 (formerly Assistant Vice President of Fund Administration from September, 2000 to February, 2001; Compliance Manager of Fund Administration from September, 1999 to August, 2000) (formerly Assistant Treasurer, Chase Global Fund Services - Boston from August, 1996 to September, 1999; Senior Accountant, PricewaterhouseCoopers LLP from June, 1991 to July, 1994). William J. Ballou (35) Secretary Secretary of the Stein Roe Funds since February, 2001 (formerly Assistant Secretary from May, 2000 to February, 2001); Secretary of the Liberty Funds and of the Liberty All-Star Funds since October, 2000 (formerly Assistant Secretary from October, 1997 to October, 2000); Vice President, Assistant Secretary and Senior Counsel of CMA since October, 1997; Vice President and Senior Counsel since April, 2000, and Assistant Secretary since December, 1998 of LFG (formerly Associate Counsel, Massachusetts Financial Services Company from May, 1995 to September, 1997).
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