-----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, BCYJikY/wSH2Q58twZlZByCJwt0zR/y3ZtZEp8JdERxajIqGY2day4fvrwowGl19 Cu9KW/CqhKMb/z609Crs7g== 0000894189-99-000175.txt : 19990624 0000894189-99-000175.hdr.sgml : 19990624 ACCESSION NUMBER: 0000894189-99-000175 CONFORMED SUBMISSION TYPE: NSAR-B/A PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990525 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE FUNDS INC CENTRAL INDEX KEY: 0000315811 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133076279 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B/A SEC ACT: SEC FILE NUMBER: 811-03032 FILM NUMBER: 99633759 BUSINESS ADDRESS: STREET 1: 70 WASHINGTON ST - 19TH FL CITY: NEW YORK STATE: NY ZIP: 10006 BUSINESS PHONE: 2126353005 MAIL ADDRESS: STREET 1: 90 WASHINGTON ST CITY: NEW YORK STATE: NY ZIP: 10006 FORMER COMPANY: FORMER CONFORMED NAME: FUNDAMENTAL FUNDS INC DATE OF NAME CHANGE: 19960827 FORMER COMPANY: FORMER CONFORMED NAME: NEW YORK MUNI FUND INC DATE OF NAME CHANGE: 19920703 NSAR-B/A 1 N-SAR (3.0) PAGE 1 000 B000000 12/31/98 000 C000000 0000315811 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 Y 000 H000000 N 000 I000000 3.0 000 J000000 A 001 A000000 FUNDAMENTAL FUNDS, INC. 001 B000000 811-3032 001 C000000 8002105226 002 A000000 67 WALL STREET 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10005 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 1 007 C010100 1 007 C020100 NEW YORK MUNI FUND SERIES 007 C030100 N 007 C010200 2 007 C010300 3 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 020 A000001 LAS INVESTMENTS 020 C000001 1 020 C000002 0 020 C000003 0 020 C000004 0 020 C000005 0 020 C000006 0 020 C000007 0 020 C000008 0 020 C000009 0 020 C000010 0 021 000000 1 022 A000001 BEAR STEARNS 022 C000001 69767 022 D000001 29272 022 A000002 MERRILL LYNCH 022 C000002 26572 PAGE 2 022 D000002 22331 022 A000003 FIRST ALBANY 022 C000003 23133 022 D000003 25413 022 A000004 STATE STREET 022 C000004 20005 022 D000004 26850 022 A000005 MAXCORP 022 C000005 5300 022 D000005 39381 022 A000006 GOLDMAN SACHS 022 C000006 29160 022 D000006 13258 022 A000007 CITICORP 022 C000007 15800 022 D000007 14550 022 A000008 LEGG MASON 022 C000008 4297 022 D000008 23218 022 A000009 PAINE WEBBER 022 C000009 3820 022 D000009 19630 022 A000010 LEHMAN BROTHERS 022 C000010 997 022 D000010 18289 023 C000000 227542 023 D000000 302855 026 A000000 N 026 B000000 N 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 Y 077 A000000 Y 077 B000000 Y 077 C000000 N 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 Y 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N PAGE 3 077 O000000 N 077 P000000 N 077 Q010000 Y 077 Q020000 N 077 Q030000 N 078 000000 N 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 008 A000101 CORNERSTONE EQUITY ADVISORS, INC. 008 B000101 A 008 C000101 801-55967 008 D010101 NEW YORK 008 D020101 NY 008 D030101 10005 010 A000101 FIRSTAR MUTUAL FUND SERVICES, LLC 010 B000101 85-11357 010 C010101 MILWAUKEE 010 C020101 WI 010 C030101 53202 012 A000101 FIRSTAR MUTUAL FUND SERVICES, LLC 012 B000101 85-11357 012 C010101 MILWAUKEE 012 C020101 WI 012 C030101 53202 013 A000101 MCGLADREY & PULLEN, LLP 013 B010101 NEW YORK 013 B020101 NY 013 B030101 10017 013 B040101 2416 014 A000101 . 014 B000101 8-. 015 A000101 FIRSTAR BANK MILWAUKEE, N.A. 015 B000101 C 015 C010101 MILWAUKEE 015 C020101 WI 015 C030101 53201 015 E010101 X 018 000100 Y 019 A000100 Y 019 B000100 3 019 C000100 FUNDAMENTL PAGE 4 024 000100 N 025 D000101 0 025 D000102 0 025 D000103 0 025 D000104 0 025 D000105 0 025 D000106 0 025 D000107 0 025 D000108 0 028 A010100 63331 028 A020100 0 028 A030100 0 028 A040100 67582 028 B010100 152700 028 B020100 165 028 B030100 0 028 B040100 156536 028 C010100 205272 028 C020100 175 028 C030100 0 028 C040100 207944 028 D010100 127299 028 D020100 133 028 D030100 0 028 D040100 144481 028 E010100 157960 028 E020100 117 028 E030100 0 028 E040100 140547 028 F010100 202007 028 F020100 304 028 F030100 0 028 F040100 256648 028 G010100 908569 028 G020100 894 028 G030100 0 028 G040100 973738 028 H000100 0 029 000100 N 030 A000100 0 030 B000100 0.00 030 C000100 0.00 031 A000100 0 031 B000100 0 032 000100 0 033 000100 0 034 000100 N 035 000100 0 036 B000100 0 037 000100 N 038 000100 0 PAGE 5 039 000100 N 040 000100 Y 041 000100 Y 042 A000100 5 042 B000100 3 042 C000100 0 042 D000100 0 042 E000100 0 042 F000100 0 042 G000100 92 042 H000100 0 043 000100 178 044 000100 0 045 000100 Y 046 000100 Y 047 000100 Y 048 000100 0.000 048 A010100 100000 048 A020100 0.500 048 B010100 100000 048 B020100 0.480 048 C010100 100000 048 C020100 0.460 048 D010100 100000 048 D020100 0.440 048 E010100 100000 048 E020100 0.420 048 F010100 0 048 F020100 0.000 048 G010100 0 048 G020100 0.000 048 H010100 0 048 H020100 0.000 048 I010100 0 048 I020100 0.000 048 J010100 0 048 J020100 0.000 048 K010100 500000 048 K020100 0.400 049 000100 N 050 000100 N 051 000100 N 052 000100 N 053 A000100 Y 053 B000100 Y 054 A000100 Y 054 B000100 Y 054 C000100 N 054 D000100 N 054 E000100 N 054 F000100 N PAGE 6 054 G000100 N 054 H000100 Y 054 I000100 N 054 J000100 Y 054 K000100 N 054 L000100 N 054 M000100 Y 054 N000100 N 054 O000100 N 055 A000100 Y 055 B000100 Y 056 000100 Y 057 000100 N 058 A000100 N 059 000100 Y 060 A000100 N 060 B000100 N 061 000100 1000 062 A000100 Y 062 B000100 0.0 062 C000100 0.0 062 D000100 0.0 062 E000100 38.8 062 F000100 0.0 062 G000100 0.0 062 H000100 0.0 062 I000100 0.0 062 J000100 0.0 062 K000100 0.0 062 L000100 0.0 062 M000100 0.0 062 N000100 0.0 062 O000100 147.7 062 P000100 0.0 062 Q000100 0.0 062 R000100 0.0 063 A000100 0 063 B000100 8.3 064 A000100 Y 064 B000100 Y 065 000100 N 066 A000100 N 067 000100 N 068 A000100 N 068 B000100 N 069 000100 N 070 A010100 Y 070 A020100 N 070 B010100 N 070 B020100 N 070 C010100 Y PAGE 7 070 C020100 Y 070 D010100 N 070 D020100 N 070 E010100 Y 070 E020100 Y 070 F010100 N 070 F020100 N 070 G010100 Y 070 G020100 Y 070 H010100 N 070 H020100 N 070 I010100 N 070 I020100 N 070 J010100 Y 070 J020100 N 070 K010100 Y 070 K020100 N 070 L010100 N 070 L020100 N 070 M010100 N 070 M020100 N 070 N010100 Y 070 N020100 N 070 O010100 Y 070 O020100 Y 070 P010100 N 070 P020100 N 070 Q010100 N 070 Q020100 N 070 R010100 N 070 R020100 N 071 A000100 353317 071 B000100 384570 071 C000100 104092 071 D000100 339 072 A000100 12 072 B000100 6267 072 C000100 0 072 D000100 0 072 E000100 0 072 F000100 501 072 G000100 137 072 H000100 0 072 I000100 257 072 J000100 14 072 K000100 0 072 L000100 11 072 M000100 25 072 N000100 0 072 O000100 0 072 P000100 1095 PAGE 8 072 Q000100 120 072 R000100 45 072 S000100 521 072 T000100 178 072 U000100 0 072 V000100 0 072 W000100 167 072 X000100 3071 072 Y000100 51 072 Z000100 3247 072AA000100 3377 072BB000100 1352 072CC010100 0 072CC020100 272 072DD010100 3252 072DD020100 0 072EE000100 0 073 A010100 0.0300 073 A020100 0.0000 073 B000100 0.0000 073 C000100 0.0000 074 A000100 792 074 B000100 0 074 C000100 23500 074 D000100 89412 074 E000100 0 074 F000100 0 074 G000100 0 074 H000100 0 074 I000100 0 074 J000100 0 074 K000100 0 074 L000100 2207 074 M000100 0 074 N000100 115911 074 O000100 1548 074 P000100 107 074 Q000100 0 074 R010100 0 074 R020100 0 074 R030100 0 074 R040100 53729 074 S000100 0 074 T000100 60527 074 U010100 74797 074 U020100 0 074 V010100 0.81 074 V020100 0.00 074 W000100 0.0000 074 X000100 4409 074 Y000100 0 PAGE 9 075 A000100 0 075 B000100 100669 076 000100 0.00 080 A000100 VIGILANT INSURANCE COMPANY 080 C000100 925 081 A000100 Y 081 B000100 4 082 A000100 Y 082 B000100 10 083 A000100 N 083 B000100 0 084 A000100 N 084 B000100 0 085 A000100 N SIGNATURE STEPHEN C LESLIE TITLE CEO EX-27 2 FDS - FUNDAMENTAL FUNDS, INC. NEW YORK MUNI SERIES WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
6 0000315811 Fundamental Funds Inc. 1 New York Muni Fund Series 1 12-mos Dec-31-1998 Jan-01-1998 Dec-31-1998 117,857,875 112,912,321 2,206,497 792,299 0 115,911,117 0 0 55,384,052 55,384,052 0 87,732,916 74,796,787 156,836,372 0 0 (22,260,297) 0 (4,945,554) 60,527,065 0 6,266,727 0 (3,020,048) 3,246,679 2,024,463 (271,695) 4,999,447 0 (3,252,079) 0 0 2,233,068,385 (2,317,457,670) 2,349,700 (74,068,342) 0 (24,284,760) (27,444) 0 500,696 1,095,532 3,072,238 100,668,601 0.860 0.030 (0.05) (0.03) 0.00 0.00 0.81 2.99 [AVG-DEBT-OUTSTANDING] 13,815,781 [AVG-DEBT-PER-SHARE] 0.114
EX-99.B11 3 AUDIT OPINION REPORT OF CERTIFIED PUBLIC ACCOUNTANTS To the Shareholders and Board of Directors of Fundamental Funds, Inc. In planning and performing our audit of the financial statements of Fundamental Funds, Inc., a series fund consisting of the New York Muni Fund for the year ended December 31, 1998, we considered its internal control, including control activities for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, not to provide assurance on internal control. The management of Fundamental Funds, Inc. is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. Generally, controls that are relevant to an audit pertain to the entity's objective of preparing financial statements for external purposes that are fairly presented in conformity with generally accepted accounting principles. Those controls include the safeguarding of assets against unauthorized acquisition, use, or disposition. Because of inherent limitations in internal control, error or fraud may occur and not be detected. Also, projection of any evaluation of internal control to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the design and operation may deteriorate. Our consideration of internal control would not necessarily disclose all matters in internal control that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving internal control and its operation, including controls for safeguarding securities, that we consider to be material weaknesses as defined above as of December 31, 1998. This report is intended solely for the information and use of management, the Board of Directors of Fundamental Funds, Inc., and the Securities and Exchange Commission. McGladrey & Pullen, LLP New York, New York February 26, 1999 EX-99 4 CHANGE OF ADVISOR Item 77H On May 30, 1998, Registrant's Board decided not to renew Registrant's Investment Management Agreement with Fundamental Portfolio Advisors, Inc. beyond May 31, 1998. Tocqueville Asset Management LP was selected by Registrant's Board to act as interim investment adviser to Registrant for a 120-day period commencing June 1, 1998. Cornerstone was selected by Registrant's Board to act as interim investment adviser to Registrant commencing September 29, 1998 and acted as such throughout the remainder of Registrant's fiscal year. -----END PRIVACY-ENHANCED MESSAGE-----