-----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, Fz+2XnHcPKe43dJzB9F2/V7BZ0tFKy8IvMpMhhxYnXckv8Tz9LFXgd3fC8sl1A9C 1avjf7ioamVzYnd72yxyGw== 0001145443-04-001905.txt : 20041129 0001145443-04-001905.hdr.sgml : 20041129 20041129165538 ACCESSION NUMBER: 0001145443-04-001905 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040930 FILED AS OF DATE: 20041129 DATE AS OF CHANGE: 20041129 EFFECTIVENESS DATE: 20041129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIGNA INVESTMENT SECURITIES CENTRAL INDEX KEY: 0000049975 IRS NUMBER: 231886274 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-02299 FILM NUMBER: 041172242 BUSINESS ADDRESS: STREET 1: 2223 WASHINGTON STREET STREET 2: 3 NEWTON EXECUTIVE PARK, SUITE 200 CITY: NEWTON STATE: MA ZIP: 02462 BUSINESS PHONE: 860.534.4700 MAIL ADDRESS: STREET 1: C\O TIMESSQUARE CAPITAL MANAGEMENT, INC. STREET 2: 280 TRUMBULL STREET, H16C CITY: HARTFORD STATE: CT ZIP: 06103 FORMER COMPANY: FORMER CONFORMED NAME: CIGNA INVESTMENT SECURITIES INC DATE OF NAME CHANGE: 19990819 FORMER COMPANY: FORMER CONFORMED NAME: INA INCOME & CONVERTIBLE FUND DATE OF NAME CHANGE: 19730426 N-Q 1 d15787.txt United States Securities and Exchange Commission Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-2299 -------- CIGNA Investment Securities --------------------------- (Exact name of registrant as specified in charter) c/o CIGNA Investment Advisors, Inc., 280 Trumbull Street, H16C, Hartford, CT 06103 (Address of principal executive offices) (Zip code) Mark Butler, 2223 Washington Street, 3 Newton Executive Park, Suite 200 Newton, MA 02462 (Name and address of agent for service) Registrant's telephone number, including area code: 860.757.7276 ------------ Date of fiscal year end: 12/31/2004 ---------- Date of reporting period: 6/30/2004 - 9/30/2004 --------------------- Item 1. Schedule of Investments. - -------------------------------------------------------------------------------- CIGNA Investment Securities Investments in Securities September 30, 2004 (Unaudited)
PRINCIPAL VALUE (000) (000) - -------------------------------------------------------------------------------------- LONG-TERM BONDS - 96.8% BASIC MATERIALS - 0.4% International Paper Co., 5.50%, 2014 $ 170 $ 174 Stora Enso Oyj, 7.38%, 2011 100 116 Weyerhaeuser Co., 6.75%, 2012 70 78 ---------------- 368 ---------------- COMMUNICATIONS & MEDIA - 8.9% AOL Time Warner, 6.75%, 2011 80 89 AT&T Corp., 8.75% (coupon change based on rating) 2031 70 76 British Sky Broadcasting PLC, 8.20%, 2009 220 256 British Telecommunications PLC, 8.88% (coupon change based on rating), 2030 50 66 Comcast Corp., 5.85%, 2010 90 96 Deutsche Telekom International Finance BV, 8.50% (coupon change based on rating), 2010 155 186 8.75% (coupon change based on rating), 2030 205 265 France Telecom SA, 7.95%, (coupon change based on rating), 2006 60 64 8.50%, (coupon change based on rating), 2011 600 718 9.25%, (coupon change based on rating), 2031 75 99 Intelsat, Ltd., 6.50%, 2013 245 201 Kyivstar GSM, 10.38%, 2009 (144A security acquired Nov. 2002 & Jan. 2003 for $208) (b) 198 211 Koninklijke KPN, NV, 8.00%, 2010 370 440 Liberty Media Corp., 7.88%, 2009 500 558 5.70%, 2013 45 44 News America Holdings, Inc., 7.75%, 2045 110 130 7.90%, 2095 120 142 8.25%, 2096 45 55 News America, Inc., 6.75%, 2038 30 33 PTC International Finance II SA, 11.25%, 2009 200 213 Qwest Capital Funding, Inc., 7.00%, 2009 30 27 Qwest Services Corp., 13.50%, 2010 (144A security acquired Mar. 2004 for $47) (b) 40 47 SBC Communications, Inc., 6.45%, 2034 50 51 Shaw Communications, Inc., 8.25%, 2010 145 164 7.20%, 2011 65 71 Sprint Capital Corp., 6.13%, 2008 70 76 8.38%, 2012 55 67 6.88%, 2028 210 220 8.75%, 2032 135 171 Tele Communications, Inc., 9.80%, 2012 260 332 7.88%, 2013 315 369 Telecom Italia Capital SA, 5.25%, 2013 (144A security acquired Oct. 2003 for $284) (b) 285 290 6.38%, 2033 (144A security acquired Oct. 2003 for $100) (b) 100 103 6.00%, 2034 (144A security acquired Sep. 2004 for $159) (b) 160 156 TELUS Corp., 7.50%, 2007 $ 240 $ 263 8.00%, 2011 415 486 Time Warner, Inc., 9.13%, 2013 605 757 8.05%, 2016 70 83 TPSA Finance BV, 7.75%, 2008 (144A security acquired July & Aug. 2003 for $126) (b) 110 123 Univision Communications, Inc., 7.85%, 2011 110 129 Verizon Florida, Inc., 6.13%, 2013 100 107 ---------------- 8,034 ---------------- CONSUMER & RETAIL - 2.7% Campbell Soup Co., 5.88%, 2008 110 119 Heinz (H.J.) Co., 6.38%, 2028 10 11 Heinz (H.J.) Finance Co., 6.75% (coupon change based on rating), 2032 90 103 Kellogg Co., 6.60%, 2011 435 490 Kraft Foods, Inc., 5.25%, 2007 80 84 5.63%, 2011 500 528 Kroger Co., 7.50%, 2031 35 41 May Department Stores Co., 4.80%, 2009 (144A security acquired July 2004 for $50) (b) 50 51 5.75%, 2014 (144A security acquired July 2004 for $105) (b) 105 108 Miller Brewing Co., 5.50%, 2013 (144A security acquired Aug. 2003 for $144) (b) 145 151 Safeway, Inc., 7.25%, 2031 30 33 Tyson Foods, Inc., 8.25%, 2011 75 89 VFB LLC, 10.25%, 2009 (a) 2,129 490 Yum! Brands, Inc., 8.88%, 2011 135 168 ---------------- 2,466 ---------------- DIVERSIFIED - 0.6% Bombardier, Inc., 6.30%, 2014 (144A security acquired May & June 2004 for $50) (b) 55 48 General Electric Co., 5.00%, 2013 380 391 ITT Industries, Inc., 7.40%, 2025 125 144 ---------------- 583 ---------------- FINANCIAL - 9.8% BankBoston Corp., 8.25%, 2026 75 85 Boeing Capital Corp., 6.10%, 2011 85 93 CIT Group, Inc., 5.75%, 2007 110 117 6.88%, 2009 55 62 Citigroup, Inc., 6.38%, 2008 1,010 1,109 5.00%, 2014 (144A security acquired July 2002 for $211) (b) 230 230 Countrywide Home Loans., 5.50%, 2007 60 63 Credit Suisse First Boston Mortgage Securities Corp., 4.63%, 2008 95 98 5.50%, 2013 60 62 Interest Only 7.50%, 2032 (c) 700 4 Interest Only 8.00%, 2032 (c) 542 11
- -------------------------------------------------------------------------------- CIGNA Investment Securities Investments in Securities September 30, 2004 (Unaudited)
PRINCIPAL VALUE (000) (000) - -------------------------------------------------------------------------------------- FINANCIAL continued Dresdner Funding Trust I, 8.15%, 2031 (144A security acquired June & Sep. 2003 for $226) (b) $ 205 $ 248 Ford Motor Credit Co., 7.38%, 2009 310 340 7.88%, 2010 270 301 7.38%, 2011 125 136 General Electric Capital Corp., 4.75%, 2014 90 89 General Motors Acceptance Corp., 6.88%, 2011 530 556 7.25%, 2011 70 75 7.00%, 2012 55 58 Glencore Funding LLC, 6.00%, 2014 (144A security acquired May 2004 for $68) (b) 75 73 Golden West Financial Corp., 4.13%, 2007 160 163 Goldman Sachs Group, Inc., 6.88%, 2011 300 339 GS Mortgage Securities Corp. II, 5.40%, 2038 640 671 Household Finance Corp., 8.00%, 2010 385 455 6.38%, 2012 165 183 HVB Funding Trust III, 8.74%, 2031 (144A security acquired May, June 2003 & Feb. 2004 for $191) (b) 185 232 International Lease Finance Corp., 6.38%, 2009 165 181 Korea Development Bank, 4.25%, 2007 70 71 Lehman Brothers Holdings, Inc., 6.63%, 2012 180 201 Manufacturers & Traders Trust, 8.00%, 2010 105 126 Midland Funding II, 13.25%, 2006 105 119 Mizuho Financial Group Cayman Ltd., 5.79%, 2014 (144A security acquired Feb. 2004 for $165) (b) 165 170 Morgan (J.P.) Co., 6.00%, 2009 150 162 Morgan Stanley Group, Inc., 6.75%, 2011 215 241 National Rural Utilities Cooperative Finance Corp., 5.75%, 2009 90 96 NB Capital Trust IV, 8.25%, 2027 125 144 Old Kent Bank, Step Coupon (7.75% to 8/15/05), 2010 270 280 Residential Asset Mortgage Products, Inc., Interest Only, 5.75%, 2005 (c) 620 14 4.45%, 2028 350 352 Santander Financial Issuances, 6.80%, 2005 75 77 6.38%, 2011 145 160 Sanwa Finance Aruba AEC, 8.35%, 2009 175 206 Union Planters Corp., 6.75%, 2005 220 230 U.S. West Capital Funding, Inc., 6.50%, 2018 25 18 Wells Fargo & Co., 4.95%, 2013 120 122 ---------------- 8,823 ---------------- FOREIGN GOVERNMENT - 2.1% Argentina (Republic of), 11.38%, 2010 (d) $ 95 $ 29 11.38%, 2017 (d) 240 73 Brazil (Federal Republic of), 9.25%, 2010 75 80 11.00%, 2012 70 80 Export-Import Bank of Korea, 4.25%, 2007 20 20 4.13%, 2009 (144A security acquired Feb. 2004 for $134) (b) 135 135 Quebec (Province of Canada), 5.50%, 2006 475 495 7.50%, 2023 180 228 Russian Federation, 12.75%, 2028 (144A security acquired Aug. 2004 for $408) (b) 275 419 United Mexican States, 8.30%, 2031 295 336 ---------------- 1,895 ---------------- HEALTH CARE - 0.2% HCA, Inc., 5.25%, 2008 90 92 7.50%, 2033 50 53 ---------------- 145 ---------------- INDUSTRIAL - 1.8% Ametek, Inc., 7.20%, 2008 205 224 BAE Systems Holdings, 6.40%, 2011 (144A security acquired Dec. 2001 & Nov. 2002 for $439) (b) 435 485 Lockheed Martin Corp., 8.20%, 2009 575 684 8.50%, 2029 5 7 Systems 2001 Asset Trust LLC, 7.16%, 2011 (144A security acquired June 2001 for $179) (b) 179 193 ---------------- 1,593 ---------------- INSURANCE - 1.3% American Re Corp., 7.45%, 2026 300 330 AXA SA, 8.60%, 2030 115 149 Monumental Global Funding II, 3.85%, 2008 (144A security acquired Feb. 2003 for $210) (b) 210 213 Travelers Property Casualty Corp., 5.00%, 2013 110 109 Zurich Capital Trust I, 8.38%, 2037 (144A security acquired Jan., June, Aug. & Oct. 2003 for $300) (b) 310 354 ---------------- 1,155 ---------------- OIL & GAS - 1.8% Amerada Hess Corp., 7.30%, 2031 110 120 ConocoPhilips, 8.75%, 2010 410 504 Devon Financing Corp. ULC, 6.88%, 2011 110 124 Duke Capital Corp., 4.30%, 2006 90 91
- -------------------------------------------------------------------------------- CIGNA Investment Securities Investments in Securities September 30, 2004 (Unaudited)
PRINCIPAL VALUE (000) (000) - -------------------------------------------------------------------------------------- OIL & GAS continued Duke Energy Field Services LLC, 5.75%, 2006 $ 40 $ 42 6.88%, 2011 30 34 EnCana Corp. 6.50%, 2034 50 53 Morgan Stanley Bank AG for Gazprom OAO, 9.63%, 2013, (144A security acquired Sep. 2004 for $110) 100 111 Occidental Petroleum Corp., 7.65%, 2006 480 510 Petroleos Mexicanos, 9.50%, 2027 45 55 ---------------- 1,644 ---------------- PHARMACEUTICALS - 0.5% Lilly (Eli) & Co., 6.77%, 2036 300 349 Wyeth, 5.50% (coupon change based on rating), 2013 40 41 5.50%, 2014 95 96 ---------------- 486 ---------------- TRANSPORTATION - 1.4% American Airlines, 7.86%, 2011 180 179 Burlington Northern Santa Fe, 6.75%, 2029 45 49 Federal Express Corp., 7.60%, 2097 85 99 Ford Motor Co., 6.38%, 2029 110 97 Norfolk Southern Corp., 7.70%, 2017 120 145 7.90%, 2097 170 207 Union Pacific Corp., 7.60%, 2005 285 293 6.13%, 2012 150 162 ---------------- 1,231 ---------------- U.S. GOVERNMENT & AGENCIES (e) - 61.8% Fannie Mae, 5.75%, 2008 580 625 6.00%, 2008 3,900 4,242 5.50%, 2017 855 886 4.00%, 2018 341 333 6.50%, 2032 1,359 1,427 7.00%, 2032 787 835 5.00%, 2033 541 537 5.50%, 2033 2,383 2,420 6.50%, 2033 439 461 5.00%, 2034 661 655 5.50%, 2034 1,028 1,043 6.00%, 2034 2,442 2,530 Interest Only 6.59%, 2042 (c) 3,856 69 Freddie Mac, 6.50%, 2013 115 122 5.50%, 2017 540 559 6.00%, 2017 613 642 6.50%, 2017 335 355 4.50%, 2018 2,739 2,737 5.00%, 2018 2,652 2,699 6.00%, 2032 788 815 7.50%, 2032 417 448 5.00%, 2033 3,802 3,777 5.50%, 2033 2,619 2,661 6.00%, 2033 387 401 6.00%, 2034 2,650 2,741 6.50%, 2034 232 244 Ginnie Mae, 6.50%, 2031 $ 264 $ 279 6.50%, 2032 175 184 5.50%, 2033 638 651 6.00%, 2033 2,671 2,769 U.S. Treasury Bonds, 8.75%, 2017 1,570 2,215 6.00%, 2026 3,250 3,705 U.S. Treasury Notes, 4.63%, 2006 405 419 7.00%, 2006 7,370 7,943 6.00%. 2009 2,300 2,571 5.00%. 2011 305 328 4.25%. 2013 195 198 4.75%. 2014 145 152 ---------------- 55,678 ---------------- UTILITIES - 3.5% American Electric Power, Inc., 5.38%, 2010 40 42 Carolina Power & Light Co., 6.50%, 2012 105 117 CenterPoint Energy, 5.70%, 2013 105 111 7.88%, 2013 205 242 Columbus Southern Power Co., 5.50%, 2013 55 58 Detroit Edison Co., 6.13%, 2010 210 230 6.35%, 2032 5 5 Dominion Resources, Inc., 6.25%, 2012 60 65 DPL, Inc., 8.25%, 2007 155 167 First Energy Corp., 5.50%, 2006 415 432 6.45%, 2011 185 202 7.38%, 2031 90 101 Korea Electric Power Corp., 5.13%, 2034 (144A security acquired Apr. 2004 for $74) (b) 75 75 Niagara Mohawk Power Co., 7.63%, 2005 378 394 Nisource Finance Corp., 7.88%, 2010 180 213 Ohio Power Co., 5.50%, 2013 25 26 Oncor Electric Delivery Co., 7.25%, 2033 135 159 Pacific Gas & Electric Co., 3.60%, 2009 45 44 4.20%, 2011 60 59 6.05%, 2034 85 87 Progress Energy, Inc., 7.10%, 2011 90 102 7.00%, 2031 85 92 Tenaska Alabama II Partners LP, 6.13%, 2023 (144A security acquired Oct. 2003 for $141)1 (b) 141 148 ---------------- 3,171 ---------------- TOTAL LONG-TERM BONDS (Cost - $85,153) 87,272 ----------------
- -------------------------------------------------------------------------------- CIGNA Investment Securities Investments in Securities September 30, 2004 (Unaudited)
NUMBER VALUE OF SHARES (000) - -------------------------------------------------------------------------------------- PREFERRED STOCK - 1.5% COMMUNICATIONS & MEDIA - 0.3% Centaur Funding Corp., 9.08% (144A security acquired Jan., Aug. & Nov. 2001 for $217) (b) 205 265 ---------------- FINANCIAL - 1.0% IBJ Preferred Capital Co. LLC, Step Coupon (8.79% to 6/30/08) (144A security acquired Aug, Oct, & Dec. 2003 for $415) (b) 395 452 Natexis AMBS Co. LLC., Step Coupon (8.44% to 6/30/08) (144A security acquired May 2002 for $152) 140 161 RBS Capital Trust III, Step Coupon (5.51% to 9/30/14) 260 264 ---------------- ---------------- 877 ---------------- INDUSTRIAL - 0.2% RC Trust I, 7.00%, 2006 3,400 180 ---------------- TOTAL PREFERRED STOCK (Cost - $1,226) 1,322 ---------------- SHORT-TERM OBLIGATIONS - 1.3% MONEY MARKET FUND - 1.2% CIGNA Funds Group - Money Market Fund (f) 1,106,500 1,106 ---------------- PRINCIPAL (000) -------------- U.S. GOVERNMENT - 0.1% U.S. Treasury Bills, 1.94%, 3/31/05 (g) $ 50 50 ---------------- TOTAL SHORT-TERM OBLIGATIONS (Cost - $1,156) 1,156 ---------------- TOTAL INVESTMENTS IN SECURITIES - 99.6% (Total Cost - $87,535) (i) 89,750 Cash and Other Assets Less Liabilities - 0.4% 379 ---------------- NET ASSETS - 100.0% $ 90,129 ================
- -------------------------------------------------------------------------------- NOTES TO INVESTMENTS IN SECURITIES (a) This is a fair valued security which is in default due to bankruptcy. The principal amount represents beneficial ownership interest for future cash receipts under the bankruptcy filings. (b) Indicates restricted security; the aggregate value of restricted securities is $5,252,014 (aggregate cost $4,912,464), which is approximately 5.8% of net assets. Valuations have been furnished by brokers trading in the securities or a pricing service for all restricted securities. (c) Illiquid security. (d) Defaulted security. (e) Agency obligations are not gauranteed by the U.S. Government. (f) TimesSquare Capital Management, Inc., the fund's Investment Adviser, is also the Adviser to the CIGNA Funds Group - Money Market Fund. (g) Pledged as collateral for financial futures contracts. At September 30, 2004, the Fund was long 28, 2-year U.S. Treasury Notes and 1, 10-year U.S. Treasury Note, and was short 4, 30-year U.S. Treasury Bonds and 61, 5-year U.S. Treasury Notes futures contracts, all expiring in December 2004. Net unrealized loss amounted to $26,161. Underlying face values of the long and short positions were $6,024,914 and ($7,176,190), respectively, and underlying market values were $6,027,188 and ($7,204,625), respectively. (h) A summary of outstanding forward currency contracts, as of September 30, 2004, is as follows:
Net Unrealized Settlement Forward Foreign Contract Appreciation Date Contract Currency Value (Depreciation) ---------------------------------------------------------------------------------- Buys 12/10/04 Euro 740,000 918,593 22,905
Tax Information (i) At September 30, 2004, the net unrealized appreciation of investments, based on cost for federal income tax purposes of $88,066,379, was as follows: Aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost $ 2,023,611 Aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value (339,861) ------------ Unrealized appreciation - net $ 1,683,750 ============
---------------------------------------------------------------------------------- Quality Ratings* of Long-Term Bonds (Unaudited) September 30, 2004 Value % of (000) Value ---------------------------------------------------------------------------------- Aaa/AAA $ 57,208 65.5% Aa/AA 3,454 4.0 A/A 8,963 10.3 Baa/BBB 15,670 18.0 Ba/BB 1,082 1.2 B/B 303 0.3 Below B 102 0.1 Not Rated 490 0.6 --------------------------------- $ 87,272 100.0% ----------------------------------------------------------------------------------
Item 2. Controls and Procedures. (a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3. Exhibits. Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant)CIGNA Investment Securities By (Signature and Title)* /s/ Jeffrey S. Winer, Vice President and Secretary Date November 29, 2004 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)*/s/ Jeffrey S. Winer Date November 29, 2004 By (Signature and Title)*/s/ Jeffrey S. Winer, Vice President and Secretary Date November 29, 2004 * Print the name and title of each signing officer under his or her signature. EX-99 2 ex99_1.txt CERTIFICATION PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT I, Richard H. Forde, certify that: 1. I have reviewed this report on Form N-Q of CIGNA Investment Securities; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) [omitted] (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 24, 2004 /s/ Richard H. Forde ---------------------------- ----------------------- Richard H. Forde, President (principal executive officer) EX-99 3 ex99_2.txt CERTIFICATION PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT I, Alfred A. Bingham III, certify that: 1. I have reviewed this report on Form N-Q of CIGNA Investment Securities; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. [omitted] c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 24, 2004 /s/ Alfred A. Bingham III --------------------- --------------------------- Alfred A. Bingham III, Vice President and Treasurer (principal financial officer) -----END PRIVACY-ENHANCED MESSAGE-----