-----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, BV4ObnPhH3yrcH3CndrbsOdwK2STILW8zYoT/a8VrtKymHqDSnlPSRJuC11Eorlo J+xl3zxRmWpZZn2+XzANlQ== 0000749748-06-000020.txt : 20060823 0000749748-06-000020.hdr.sgml : 20060823 20060823135403 ACCESSION NUMBER: 0000749748-06-000020 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060630 FILED AS OF DATE: 20060823 DATE AS OF CHANGE: 20060823 EFFECTIVENESS DATE: 20060823 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASH ASSETS TRUST CENTRAL INDEX KEY: 0000749748 IRS NUMBER: 136844974 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04066 FILM NUMBER: 061050559 BUSINESS ADDRESS: STREET 1: 380 MADISON AVE STREET 2: SUITE 2300 CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2126976666 MAIL ADDRESS: STREET 1: 380 MADISON AVENUE STREET 2: SUITE 2300 CITY: NEW YORK STATE: NY ZIP: 10017 0000749748 S000006652 Pacific Capital Cash Assets Trust C000018146 Pacific Capital Cash Assets Trust Original Shares CATXX C000018147 Pacific Capital Cash Assets Trust Service Shares CASXX 0000749748 S000006653 Padific Capital Tax-Free Cash Assets Trust C000018148 Pacific Capital Tax-Free Cash Assets Trust Original Shares TFCXX C000018149 Pacific Capital Tax-Free Cash Assets Trust Service Shares TFAXX 0000749748 S000006654 Pacific Capital U.S. Government Securities Cash Assets Trust C000018150 Pacific Capital U.S.Government Securities Cash Assets Trust Original Shares USCXX C000018151 Pacific Capital U.S. Government Securities Cash Assets Trust Service Shares UCSXX N-Q 1 catsnq.txt CASH ASSETS TRUST 6 /30/06 FORM N-Q FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-4066 Pacific Capital Cash Assets Trust (Exact Name of Registrant as Specified in Charter) 380 Madison Avenue, Suite 2300 New York, New York 10017 (Address of Principal Executive Offices)(Zip Code) Registrant's Telephone Number, including Area Code: (212) 697-6666 Joseph P. DiMaggio, Chief Financial Officer and Treasurer 380 Madison Avenue, Suite 2300 New York, New York 10017 (Name and address of Agent for Service) Date of fiscal year end: March 31, 2006 Date of reporting period: June 30, 2006 Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. Item 1. Schedule of Investments. Schedule of investments as of the close of the reporting period as set forth in subsection 210.12-12 - 12-14 of Regulation S-X (17 CFR 210.12-12 - 12-14) Cash Assets Trust Schedule of Investments June 30, 2006 (unaudited)
Principal Security Amount Description Value (a) Commercial Paper (65.8%): Automotive (4.1%): $ 20,000,000 Toyota Motor Credit Corp., 5.04%, 08/21/06 $ 19,857,200 --------------- Banks (16.5%): 20,000,000 Bank of America, 5.38%, 09/26/06 19,739,725 20,000,000 Louis Dreyfus Corp. LOC Barclays Bank PLC, 5.08%, 07/07/06 19,983,067 20,000,000 Rabobank 4.87%, 07/06/06 19,986,472 20,000,000 Societe Generale N.A., Inc., 5.25%, 08/01/06 19,909,583 --------------- 79,618,847 Borrowing Conduit (4.1%): 20,000,000 Abbey National North America Corp., 5.01%, 08/11/06 19,885,883 --------------- Brokerage (8.3%): 20,000,000 Bear Stearns & Co., 5.05%, 08/22/06 19,854,111 20,000,000 Merrill Lynch 5.25%, 07/10/06 19,973,750 --------- 39,827,861 Conglomerate (4.1%): 20,000,000 General Electric Capital Corp., 5.36%, 09/27/06 19,737,956 --------- Education (4.1%): 20,000,000 Harvard University 4.77%, 08/18/06 19,872,800 ------------ Finance (16.4%): 20,000,000 American Express Credit Corp., 5.09% 09/20/06 19,770,950 20,000,000 American General Finance Corp., 5.08% 09/19/06 19,774,222 20,000,000 Calyon NA, Inc. 4.93%, 07/18/06 19,953,392 20,000,000 Citigroup Global Markets Holdings, Inc., 5.10%, 08/07/06 19,895,167 ---------- 79,393,731 Insurance (8.2%): 20,000,000 MetLife Funding, Inc., 5.13%, 09/06/06 19,809,050 20,000,000 Prudential Funding, 4.70%, 07/24/06 19,939,944 --------------- 39,748,994 Total Commercial Paper 317,943,272.00 --------------- Certificate of Deposit (4.1%): Bank (4.1%): 20,000,000 Wells Fargo, 5.40%, 06/15/07 20,000,000 ---------- Corporate Note (3.1%): Insurance (3.1%): Peoples Benefit Life Insurance, 15,000,000 Variable Rate Note, 5.26%, 06/22/07* 15,000,000 ---------- U.S. Government Agencies (13.8%): Federal Home Loan Mortgage Corp. (8.6%): 42,000,000 4.85%, 08/29/06 41,665,814 ---------- Federal National Mortgage Association (5.2%): 25,000,000 4.90%, 08/15/06 24,846,875 ---------- Total U.S. Government Agencies 66,512,689 ---------- Repurchase Agreement (13.5%): Morgan Stanley Dean Witter 65,000,000 5.15%, 07/03/06 65,000,000 ---------- (Proceeds of $65,027,896 to be received at maturity, Collateral: $67,030,000 Federal National Mortgage Association 3.75% due 05/17/07; the collateral fair value plus interest receivable equals $66,307,333) Shares Investment Company (0.1%): 624,455 JP Morgan U.S. Government Money Market Fund, Capital Shares 624,455 ------- Total Investments (Amortized Cost $485,080,416**) - 100.4% 485,080,416 Other assets less liabilities - (0.4)% (1,952,216) ---------------- NET ASSETS - 100.0% $ 483,128,200 ===============
- ------------ * Illiquid security. Considered illiquid because it may not be sold, and may be redeemed only upon at least ninety days' notice to the issuer. As this security is a variable rate note, the rate shown represents the rate in effect at June 30, 2006, and the maturity date reflects the next rate change date. Represents 3.1% of net assets. ** Cost for Federal income tax and financial reporting purposes is identical. Percent of Portfolio Distribution (unaudited) Portfolio Commercial Paper 65.6 % Certificate of Deposit 4.1 Corporate Note 3.1 U.S. Government Agencies 13.7 Repurchase Agreement 13.4 Investment Company 0.1 -------- 100.0% ======= See accompanying notes to financial statements. Cash Assets Trust NOTES TO FINANCIAL STATEMENTS (a) Securities valuation policies and other investment related disclosures are hereby incorporated by reference in the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR. Tax-Free Cash Assets Trust Schedule of Investments June 30, 2006 (unaudited)
Moody's/S&P Principal Security Ratings Amount Description (unaudited) Value (a) ------ ----------- ----------- -------- MUNICIPAL BONDS (98.1%): ALASKA (0.3%): Anchorage, AK Electric Utility Revenue Senior Lien-Municipal Light & Power Series C - Prerefunded to 12/01/06 @ $102, Collateral: US Gov't Securities, AMBAC Insured $500,000 5.125%, 12/01/26 Aaa/AAA $ 512,528 ----------- ARIZONA (0.8%): Phoenix, AZ Civic Improvement Corporation Water System Revenue Jr. Lien - Prerefunded to 07/01/06 @100, Collateral: State & Local Government Series 1,500,000 5.800%, 07/01/12 #Aaa/AA 1,500,000 ------------ COLORADO (4.0%): Colorado Housing & Finance Authority Revenue Bonds, Class I, Series A-1, Weekly Reset VRDO*, SPA: FHLB 7,600,000 3.980%, 10/01/30 VMIG1/A-1+ 7,600,000 ------------- FLORIDA (1.5%): Dade County, FL School Board Certificates of Participation Series B - Prerefunded to 08/01/06 @101, AMBAC Insured, Collateral: US Government Securities 2,000,000 5.600%, 08/01/26 #Aaa/AAA 2,023,924 Sarasota County, FL Utility System Revenue - Prerefunded to 10/01/06 @102, FGIC Insured, Collateral: State & Local Government Series 750,000 5.250%, 10/01/25 Aaa/AAA 768,596 ----------- 2,792,520 ----------- HAWAII (33.6%): State of Hawaii Series CO General Obligation FGIC Insured 1,000,000 6.000%, 09/01/06 Aaa/AAA 1,004,976 Hawaii State Department of Budget and Finance (Queens Health System) Series C, Weekly Reset VRDO*, AMBAC Insured, SPA: Bank of America N.A. 35,000,000 3.920%, 07/01/28 MIG1/AAA 35,000,000 Hawaii State Department of Budget and Finance Special Purpose Revenue Bonds Pacific Health (Kapiolani Health Care) Prerefunded 07/01/06 @102 MBIA-IBC Insured, Collateral: State & Local Government Series 1,000,000 6.000%, 07/01/11 Aaa/AAA 1,020,000 1,000,000 6.200%, 07/01/16 Aaa/AAA 1,020,000 1,000,000 6.250%, 07/01/21 Aaa/AAA 1,020,000 Hawaii State Department of Budget and Finance Special Purpose Revenue Bonds (The Queen's Health System) Series A, Prerefunded 07/01/06 @102, Collateral: State & Local Government Series 5,000,000 6.050%, 07/01/16 A1/A+ 5,100,000 3,500,000 5.750%, 07/01/26 A1/A+ 3,570,000 Hawaii State Department of Budget and Finance Special Purpose Revenue Bonds (The Queen's Health System) Series A, Weekly Reset VRDO*, SPA: Bank of Nova Scotia, AMBAC Insured 4,600,000 3.870%, 07/01/29 VMIG1/A-1+ 4,600,000 Hawaii State Highway Revenue Series B Prerefunded 07/01/06 @102 FGIC Insured, Collateral: State & Local Government Series 3,705,000 5.600%, 07/01/13 Aaa/AAA 3,779,100 City and County Honolulu, HI General Obligation Series-A - Escrowed to Maturity, Collateral: US Gov't Securities 2,870,000 5.600%, 04/01/07 #Aaa/AA- 2,911,895 Honolulu, HI General Obligation Commercial Paper LOC-Westdeutsche Landesbank 5,000,000 3.580%, 08/04/06 A-1+/P1 5,000,000 ------------- 64,025,971 -------------- ILLINOIS (2.9%): Chicago, IL General Obligation Bonds, Series B, Weekly Reset VRDO*, SPA: Landesbank Baden-Wurttemberg FGIC Insured 3,000,000 3.980%, 01/01/37 VMIG1/A-1+ 3,000,000 Chicago, IL Park. District, General Obligation Prerefunded to 01/01/07 @101, MBIA Insured Collateral: State & Local Government Series 1,145,000 5.400%, 01/01/09 Aaa/AAA 1,167,673 Cook County, IL General Obligation Capital Improvement - Prerefunded to 11/15/06 @ $101, Collateral: US Gov't Securities, FGIC Insured 1,250,000 5.875%, 11/15/22 Aaa/AAA 1,273,223 ---------- 5,440,896 ---------- MASSACHUSETTS (0.5%): Massachusetts State Health & Educational Facilities Authority Revenue Wellesley College Series 1999G Daily Reset VRDO* 1,000,000 3.960%, 07/01/39 VMIG1/A-1+ 1,000,000 ---------- MICHIGAN (5.9%): Eastern Michigan University, MI University Revenue Bonds, Daily Reset VRDO*, FGIC Insured, SPA: FGIC-SPI 5,510,000 4.040%, 06/01/27 Aaa/A-1+ 5,510,000 Michigan State Trunk Line, Series A, Revenue Bond, Prerefunded to 11/01/06 @101, FGIC Insured, Collateral: State & Local Government Series 1,500,000 5.625%, 11/01/26 Aaa/AAA 1,526,544 Northern Michigan University Revenue Bonds, Daily Reset VRDO*, FGIC Insured, SPA: FGIC-SPI 4,210,000 4.040%, 06/01/31 VMIG1/A-1+ 4,210,000 ---------- 11,246,544 ----------- ----------- MISSOURI (14.4%): Kansas City, MO Industrial Development Authority Revenue Bonds, (Ewing Marion Kaufman Foundation), Daily Reset VRDO* 7,110,000 4.040%, 04/01/27 NR/A-1+ 7,110,000 450,000 4.040%, 04/01/27 NR/A-1+ 450,000 Missouri State, Health & Educational Facilities Authority Revenue Bonds (St. Louis University), Series B, Daily Reset VRDO*, SPA: Bank of America N.A. 5,060,000 4.070%, 10/01/24 VMIG1/A-1+ 5,060,000 Missouri Sate Health & Educational Facilities Authority (Washington University), Series B, SPA: JP Morgan Chase Bank, Daily Reset VRDO* 2,600,000 4.030%, 03/01/40 VMIG1/A-1+ 2,600,000 Missouri State, Health & Educational Facilities Authority Revenue Bonds (Washington University), Series C, Daily Reset VRDO*, SPA: JP Morgan Chase Bank 2,800,000 4.030%, 09/01/30 VMIG1/A-1+ 2,800,000 Missouri State, Health & Educational Facilities Authority Revenue Bonds (Washington University), Series D, Daily Reset VRDO*, SPA: JP Morgan Chase Bank 2,100,000 4.030%, 09/01/30 VMIG1/A-1+ 2,100,000 University of Missouri, Curators of the University of Missouri System Facilities Revenue Bonds, Series A, Daily Reset VRDO* 5,000,000 4.000%, 11/01/32 VMIG1/A-1+ 5,000,000 University of Missouri University Revenue VRDO* System Facilities-Series B 2,250,000 4.000%, 11/01/30 VMIG1/A-1+ 2,250,000 ----------- 27,370,000 ----------- MONTANA (2.6%): Montana State, Health Facilities Authority Revenue Bonds, Series A, Weekly Reset VRDO*, FGIC Insured SPA: Wells Fargo 5,000,000 3.970%, 12/01/15 VMIG1/A-1+ 5,000,000 --------- NEVADA (4.1%): Clark County, NV Airport Revenue Bonds, Series C, Weekly Reset VRDO*, FGIC Insured, SPA: Landesbank Baden-Wurttemberg 7,800,000 3.960%, 07/01/29 VMIG1/A-1+ 7,800,000 ---------- NEW JERSEY (0.6%): New Jersey Economic Development Authority Health Revenue 1st Mortgage - Winchester Gardens- Series A - Prerefunded to 11/01/06 @ $102, Collateral: US Gov't Securities 1,100,000 8.625%, 11/01/25 #Aaa/NR 1,138,896 ---------- NEW YORK (6.1%): Long Island, NY Power Authority Revenue Bonds, Series 1A, Weekly Reset VRDO*, LOC: 80% Bayerische Landesbank 20% Landesbank Baden-Wurttemberg 9,000,000 3.950%, 05/01/33 VMIG1/A-1+ 9,000,000 New York, NY City Transitional Finance Authority Revenue Bonds, Series 3, Daily Reset VRDO*, SPA: Royal Bank of Canada 2,700,000 4.000%, 11/01/22 VMIG1/A-1+ 2,700,000 ---------- 11,700,000 ----------- NORTH CAROLINA (14.4%): Charlotte, NC Airport Revenue Bonds, Series A, Weekly Reset VRDO*, MBIA Insured, SPA: JP Morgan Chase 7,520,000 3.950%, 07/01/16 VMIG1/A-1+ 7,520,000 Concord, NC Utility Systems Revenue Bonds, Series B, Weekly Reset VRDO*, FSA Insured, SPA: Wachovia Bank 8,820,000 3.950%, 12/01/22 VMIG1/NR 8,820,000 Durham, NC Public Improvement General Obligation Bonds Weekly Reset VRDO*, SPA: Wachovia Bank of NC 2,975,000 3.970%, 02/01/11 VMIG1/A-1+ 2,975,000 Durham, NC General Obligation Bonds (Public Improvement Project), Weekly Reset VRDO*, SPA: Wachovia Bank of North Carolina 1,150,000 3.970%, 02/01/09 VMIG1/A-1+ 1,150,000 1,270,000 3.970%, 02/01/12 VMIG1/A-1+ 1,270,000 1,475,000 3.970%, 02/01/13 VMIG1/A-1+ 1,475,000 North Carolina East Municipal Power Agency Power System Revenue Refunding -Series B - Prerefunded to 01/01/07 @ $102, Collateral: US Treasury, MBIA Insured 4,000,000 5.875%, 01/01/21 Aaa/AAA 4,125,262 ------------ 27,335,262 ------------ OHIO (1.5%): Ohio Housing Finance Agency Mortgage Revenue Bonds (Residential Mortgage), Series E-AMT, Weekly Reset VRDO*, SPA: FHLB 2,895,000 4.020%, 09/01/34 VMIG1/NR 2,895,000 ---------- TEXAS (1.7%): Austin, TX Utility System Revenue Prerefunded- Combined-Series A - Escrowed to Maturity, Collateral: State & Local Gov't Series, MBIA Insured 2,300,000 6.000%, 11/15/06 Aaa/AAA 2,320,166 Denton, TX Utility System Revenue Refunding - Series A - Prerefunded to 12/01/06 @ $100, US Gov't Securities, MBIA Insured 1,000,000 5.950%, 12/01/14 Aaa/AAA 1,010,027 ---------- 3,330,193 ---------- VIRGINIA (3.2%): University of Virginia Revenue Bonds, Series A, Weekly Reset VRDO* 6,000,000 3.950%, 06/01/34 VMIG1/A-1+ 6,000,000 ----------- Shares INVESTMENT COMPANY (2.0%): 3,830,000 Goldman Sachs Financial Square Tax-Free Money Market Fund Institutional Shares 3,830,000 ----------- Total Investments (Amortized Cost $190,517,810**) - 100.1% 190,517,810 Other assets less liabilities- (0.1%) (125,269) ------------ NET ASSETS-100.0% 190,392,541 ===========
- ------------ * Variable rate demand obligations (VRDOs) are payable upon demand within the same day for securities with daily liquidity or seven days for securities with weekly liquidity. ** Cost for Federal income tax and financial reporting purposes is identical. Percent of Portfolio Distribution (unaudited) Portfolio Alaska 0.3% Arizona 0.8 Colorado 4.0 Florida 1.5 Hawaii 33.6 Illinois 2.9 Investment Company 2.0 Massachusetts 0.5 Michigan 5.9 Missouri 14.4 Montana 2.6 Nevada 4.1 New Jersey 0.6 New York 6.1 North Carolina 14.3 Ohio 1.5 Texas 1.7 Virginia 3.2 -------- 100.0 % ======== PORTFOLIO ABBREVIATIONS: AMBAC - American Municipal Bond Assurance Corp. AMT - Alternative Minimum Tax FGIC - Financial Guaranty Insurance Corporation FHLB - Federal Home Loan Bank FSA - Financial Security Assurance IBC- Insured Bond Certificate LOC - Letter of Credit MBIA- Municipal Bond Investors Assurance NR - Not Rated SPA - Standby Bond Purchase Agreement SPI- Securities Purchase, Inc. VRDO - Variable Rate Demand Obligation See accompanying notes to financial statements. Tax-Free Cash Assets Trust NOTES TO FINANCIAL STATEMENTS (a) Securities valuation policies and other investment related disclosures are hereby incorporated by reference in the annual and semi annual reports previously filed with the Securities and Exchange Commission on Form N-CSR. U.S. Government Securities Cash Assets Trust Schedule of Investments June 30, 2006 (Unaudited)
Principal Security Amount Description Value (a) ------ ----------- ----- U.S. Government Agencies (100.3%): Federal Home Loan Bank (100.3%): $ 179,000,000 4.95%, 07/03/06 $ 178,950,775 203,000,000 4.89%, 07/05/06 202,889,700 50,000,000 4.89%, 07/07/06 49,959,250 57,000,000 5.06%, 07/10/06 56,927,895 40,000,000 5.07%, 07/12/06 39,938,094 66,000,000 5.14%, 07/14/06 65,877,497 50,000,000 4.92%, 07/19/06 49,876,875 48,263,000 4.86%, 07/21/06 48,132,690 60,000,000 4.99%, 07/24/06 59,808,717 97,073,000 4.93%, 07/26/06 96,740,426 64,000,000 5.02%, 07/28/06 63,759,040 67,000,000 4.92%, 08/02/06 66,706,987 27,000,000 5.19%, 08/11/06 26,840,407 95,000,000 5.07%, 08/16/06 94,384,111 77,000,000 5.09%, 09/08/06 76,248,801 50,000,000 5.25%, 09/22/06 49,394,792 30,117,000 5.29%, 09/27/06 29,727,922 ------------- Total U.S. Government Agencies 1,256,163,979 ------------- Shares Investment Company (0.1%): 1,452,365 JP Morgan U.S. Government Money Market Fund, Capital Shares 1,452,365 --------- Total Investments (Amortized Cost $1,257,616,344*) - 100.4% 1,257,616,344 Other assets less liabilities - (0.4)% (4,779,880) ---------------------- NET ASSETS - 100.0% $ 1,252,836,464 ================= - ------------
* Cost for Federal income tax and financial reporting purposes is identical. Percent of Portfolio Distribution (unaudited) Portfolio U.S. Government Agencies 99.9 % Investment Company 0.1 ----------- 100.0% =========== See accompanying notes to financial statements. Item 2. Controls and Procedures. (a) The Fund's chief financial and executive officers have evaluated the Fund's disclosure controls and procedures within 90 days of this filing and have concluded that the Fund's disclosure controls and procedures were effective, as of this date, in ensuring that information required to be disclosed by the Fund in this Form N-Q was recorded, processed, summarized and reported timely. (b) The Fund's chief financial and executive officers are aware of no changes in the Fund's internal control over financial reporting that occurred during the Fund's latest fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund's internal control over financial reporting. Item 3. Exhibits. Filed as exhibits as part of this Form are separate certifications for each chief financial and executive officer of the registrant as required by Rule 30a-2(a) under the Act(17 CFR 270.30a-2(a)). 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. PACIFIC CAPITAL CASH ASSETS TRUST By: /s/ Diana P. Herrmann ------------------------------- Diana P. Herrmann Vice Chair, President and Trustee August 23, 2006 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: /s/ Diana P. Herrmann --------------------------------- Diana P. Herrmann Vice Chair, President and Trustee August 23, 2006 By: /s/ Joseph P. DiMaggio ----------------------------------- Joseph P. DiMaggio Chief Financial Officer and Treasurer August 23, 2006 EX-99.CERT 2 catcert.txt CERTIFICATIONS CERTIFICATIONS I, Diana P. Herrmann, certify that: 1. I have reviewed this report on Form N-Q of Pacific Capital Cash Assets Trust; 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) and internal control over financial reporting (as defined in Rule 30a-3(d) 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) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (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: August 23, 2006 /s/ Diana P. Herrmann - - - - ----------------------------- Diana P. Herrmann Vice Chair, President and Trustee I, Joseph P. DiMaggio, certify that: 1. I have reviewed this report on Form N-Q of Pacific Capital Cash Assets Trust; 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) and internal control over financial reporting (as defined in Rule 30a-3(d) 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) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (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: August 23, 2006 /s/ Joseph P. DiMaggio - - - - ----------------------------- Joseph P. DiMaggio Chief Financial Officer and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----