-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, T2khxcAdZMBZhECetfVaDF51jE4bQIIbmOoyP3pLn3rWnwo+FJ080yuOqD24uUBU kzLP2W47npo/P5SrjdCVbA== 0000789289-95-000003.txt : 199507100000789289-95-000003.hdr.sgml : 19950710 ACCESSION NUMBER: 0000789289-95-000003 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 19950430 FILED AS OF DATE: 19950707 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLANCHARD FUNDS CENTRAL INDEX KEY: 0000789289 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 133333918 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-04579 FILM NUMBER: 95552410 BUSINESS ADDRESS: STREET 1: 41 MADSON AVE 24TH FL CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 2127797979 MAIL ADDRESS: STREET 1: 41 MADISON AVENUE 24TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: BLANCHARD STRATEGIC GROWTH FUND DATE OF NAME CHANGE: 19901225 NSAR-B 1 N-SAR (3.0) PAGE 1 000 B000000 04/30/95 000 C000000 789289 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0 000 J000000 A 001 A000000 BLANCHARD FUNDS 001 B000000 811-4579 001 C000000 2127797979 002 A000000 41 MADISON AVENUE 24TH FLOOR 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10010 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 10 007 C010100 1 007 C020100 BLANCHARD GLOBAL GROWTH FUND 007 C030100 N 007 C010200 2 007 C020200 BLANCHARD 100% TREASURY MONEY MARKET FUND 007 C030200 N 007 C010300 3 007 C020300 BLANCHARD SHORT-TERM GLOBAL INCOME FUND 007 C030300 N 007 C010400 4 007 C020400 BLANCHARD AMERICAN EQUITY 007 C030400 N 007 C010500 5 007 C020500 BLANCHARD FLEXIBLE INCOME FUND 007 C030500 N 007 C010600 6 007 C020600 BLANCHARD SHORT-TERM BOND FUND 007 C030600 N 007 C010700 7 007 C020700 BLANCHARD FLEXIBLE TAX-FREE BOND FUND 007 C030700 N 007 C010800 8 007 C020800 BLANCHARD WORLWIDE EMERGING MARKETS FUND 007 C030800 N 007 C010900 9 007 C020900 BLANCHARD GROWTH & INCOME FUND 007 C030900 N 007 C011000 10 007 C021000 BLANCHARD CAPITAL GROWTH FUND PAGE 2 007 C031000 N 011 A00AA01 SHEFFIELD INVESTMENTS, INC. 011 B00AA01 8-35346 011 C01AA01 NEW YORK 011 C02AA01 NY 011 C03AA01 10010 012 A00AA01 MUTUAL FUND SERVICE COMPANY 012 B00AA01 84-000 012 C01AA01 BOSTON 012 C02AA01 MA 012 C03AA01 02110 013 A00AA01 PRICE WATERHOUSE 013 B01AA01 NEW YORK 013 B02AA01 NY 013 B03AA01 10036 014 A00AA01 SHEFFIELD INVESTMENTS, INC. 014 B00AA01 8-35346 018 00AA00 Y 019 A00AA00 Y 019 B00AA00 11 019 C00AA00 BLANCHARDF 020 A000001 SHUFRO, ROSE & ERHMAN 020 B000001 13-5390713 020 C000001 174 020 A000002 SMITH NEWCOURT, PLC. 020 C000002 30 020 A000003 BEAR STEARNS & CO. 020 C000003 20 020 A000004 LIPPER ANALYTICAL 020 B000004 13-2792478 020 C000004 17 020 A000005 CREDIT LYONNAIS 020 C000005 15 020 A000006 HOENIG & CO. 020 C000006 15 020 A000007 PARIBAS CORP. 020 C000007 13 020 A000008 S.G. WARBURG & CO. 020 C000008 12 020 A000009 INSTINET CORP. 020 C000009 12 020 A000010 BARCLAY INVESTMENTS, INC. 020 C000010 12 021 000000 651 022 A000001 MERRILL LYNCH 022 C000001 1135877 022 D000001 993949 022 A000002 ASSOCIATE CORP. OF N. A. 022 C000002 1132715 022 D000002 0 022 A000003 MORGAN STANLEY & CO. PAGE 3 022 B000003 13-2655998 022 C000003 837501 022 D000003 205645 022 A000004 LEHMAN BROTHERS 022 B000004 13-2518466 022 C000004 719594 022 D000004 776960 022 A000005 BEAR STEARNS 022 C000005 549736 022 D000005 460356 022 A000006 UNION BANK SWITZERLAND 022 C000006 840605 022 D000006 151463 022 A000007 AMERICAN EXPRESS CREDIT CORP. 022 C000007 612340 022 D000007 0 022 A000008 LANSTON( AUBREY G.) & CO. 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801-299999 008 D010106 NEW YORK 008 D020106 NY 008 D030106 10151 015 A000101 UNITED STATES TRUST COMPANY OF NEW YORK 015 B000101 C 015 C010101 NEW YORK 015 C020101 NY 015 C030101 10036 015 E010101 X 015 A000102 THE BANK OF NOVA SCOTIA 015 B000102 S 015 C010102 TORONTO 015 D010102 CANADA 015 D020102 M5 1H1 015 E040102 X 015 A000103 MORGAN STANLEY TRUST COMPANY 015 B000103 S 015 C010103 BROOKLYN 015 C020103 NY 015 C030103 11201 PAGE 6 015 E040103 X 028 A010100 682 028 A020100 0 028 A030100 0 028 A040100 2679 028 B010100 661 028 B020100 2050 028 B030100 0 028 B040100 2812 028 C010100 696 028 C020100 0 028 C030100 0 028 C040100 4079 028 D010100 241 028 D020100 0 028 D030100 0 028 D040100 2563 028 E010100 383 028 E020100 0 028 E030100 0 028 E040100 3445 028 F010100 4178 028 F020100 0 028 F030100 0 028 F040100 3980 028 G010100 6839 028 G020100 2050 028 G030100 0 028 G040100 19559 028 H000100 0 037 000100 N 038 000100 0 039 000100 Y 040 000100 Y 041 000100 Y 042 A000100 64 042 B000100 34 042 C000100 0 042 D000100 0 042 E000100 0 042 F000100 0 042 G000100 0 042 H000100 2 043 000100 704 044 000100 39 045 000100 Y 046 000100 N 047 000100 Y 048 000100 0.00 048 A010100 150000 048 A020100 1.000 PAGE 7 048 B010100 150000 048 B020100 0.875 048 C010100 300000 048 C020100 0.750 048 D010100 0 048 D020100 0.000 048 E010100 0 048 E020100 0.000 048 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 0 048 K020100 0.000 055 A000100 Y 055 B000100 N 056 000100 N 057 000100 N 058 A000100 N 059 000100 Y 060 A000100 N 060 B000100 N 061 000100 3000 062 A000100 N 062 B000100 0.0 062 C000100 0.0 062 D000100 0.0 062 E000100 0.0 062 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 0.0 062 P000100 0.0 062 Q000100 0.0 062 R000100 0.0 066 A000100 Y 066 C000100 Y 067 000100 N 068 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J010200 N 070 J020200 N 070 K010200 N PAGE 13 070 K020200 N 070 L010200 N 070 L020200 N 070 M010200 N 070 M020200 N 070 N010200 N 070 N020200 N 070 O010200 Y 070 O020200 N 070 P010200 N 070 P020200 N 070 Q010200 N 070 Q020200 N 070 R010200 N 070 R020200 N 071 A000200 99999 071 B000200 99999 071 C000200 99999 071 D000200 9999 072 A000200 12 072 B000200 9613 072 C000200 0 072 D000200 0 072 E000200 0 072 F000200 1005 072 G000200 0 072 H000200 0 072 I000200 497 072 J000200 35 072 K000200 0 072 L000200 61 072 M000200 237 072 N000200 48 072 O000200 0 072 P000200 0 072 Q000200 161 072 R000200 37 072 S000200 54 072 T000200 0 072 U000200 0 072 V000200 0 072 W000200 5 072 X000200 2140 072 Y000200 167 072 Z000200 7640 072AA000200 0 072BB000200 0 072CC010200 0 072CC020200 0 072DD010200 7640 072DD020200 0 PAGE 14 072EE000200 0 073 A010200 0.0398 073 A020200 0.0000 073 B000200 0.0000 073 C000200 0.0000 074 A000200 223 074 B000200 0 074 C000200 160429 074 D000200 0 074 E000200 0 074 F000200 0 074 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A030300 0 028 A040300 29673 028 B010300 5714 028 B020300 1309 028 B030300 0 028 B040300 43164 028 C010300 3466 028 C020300 1557 028 C030300 0 028 C040300 39366 028 D010300 3775 028 D020300 1266 028 D030300 0 028 D040300 16897 028 E010300 2909 028 E020300 1023 028 E030300 0 028 E040300 17691 028 F010300 3082 028 F020300 2060 028 F030300 0 028 F040300 12416 028 G010300 25407 028 G020300 7215 028 G030300 0 028 G040300 159207 028 H000300 0 037 000300 N 038 000300 0 039 000300 Y 040 000300 Y 041 000300 Y 042 A000300 78 042 B000300 20 042 C000300 0 042 D000300 0 042 E000300 0 PAGE 16 042 F000300 0 042 G000300 0 042 H000300 2 043 000300 937 044 000300 497 045 000300 Y 046 000300 N 047 000300 Y 048 000300 0.75 048 A010300 0 048 A020300 0.000 048 B010300 0 048 B020300 0.000 048 C010300 0 048 C020300 0.000 048 D010300 0 048 D020300 0.000 048 E010300 0 048 E020300 0.000 048 F010300 0 048 F020300 0.000 048 G010300 0 048 G020300 0.000 048 H010300 0 048 H020300 0.000 048 I010300 0 048 I020300 0.000 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Y 070 O020300 N 070 P010300 N 070 P020300 N 070 Q010300 N 070 Q020300 N 070 R010300 N 070 R020300 N PAGE 18 071 A000300 652051 071 B000300 719145 071 C000300 168846 071 D000300 386 072 A000300 12 072 B000300 27791 072 C000300 0 072 D000300 0 072 E000300 0 072 F000300 2811 072 G000300 0 072 H000300 0 072 I000300 779 072 J000300 337 072 K000300 0 072 L000300 62 072 M000300 212 072 N000300 0 072 O000300 0 072 P000300 0 072 Q000300 230 072 R000300 140 072 S000300 28 072 T000300 937 072 U000300 27 072 V000300 0 072 W000300 234 072 X000300 5797 072 Y000300 182 072 Z000300 22176 072AA000300 0 072BB000300 44398 072CC010300 15577 072CC020300 0 072DD010300 22510 072DD020300 0 072EE000300 0 073 A010300 0.1000 073 A020300 0.0000 073 B000300 0.0000 073 C000300 0.0000 074 A000300 2427 074 B000300 0 074 C000300 14972 074 D000300 213968 074 E000300 0 074 F000300 0 074 G000300 0 074 H000300 75 074 I000300 3317 074 J000300 50514 PAGE 19 074 K000300 0 074 L000300 7790 074 M000300 0 074 N000300 293063 074 O000300 50456 074 P000300 0 074 Q000300 0 074 R010300 0 074 R020300 0 074 R030300 0 074 R040300 8738 074 S000300 0 074 T000300 233869 074 U010300 141136 074 U020300 0 074 V010300 1.66 074 V020300 0.00 074 W000300 0.0000 074 X000300 17255 074 Y000300 1089 075 A000300 0 075 B000300 372758 076 000300 0.00 008 A000401 SHEFFIELD MANAGEMENT COMPANY 008 B000401 A 008 C000401 801-26537 008 D010401 NEW YORK 008 D020401 NY 008 D030401 10010 008 A000402 PROVIDENT INVESTMENT COUNSEL 008 B000402 S 008 C000402 801-11303 008 D010402 PASADENA 008 D020402 CA 008 D030402 91101 008 D040402 4022 015 A000401 UNITED STATES TRUST COMPANY OF NEW YORK 015 B000401 C 015 C010401 NEW YORK 015 C020401 NY 015 C030401 10036 015 C040401 1532 015 E010401 X 028 A010400 521 028 A020400 0 028 A030400 0 028 A040400 906 028 B010400 372 028 B020400 253 028 B030400 0 028 B040400 1046 PAGE 20 028 C010400 232 028 C020400 0 028 C030400 0 028 C040400 509 028 D010400 104 028 D020400 0 028 D030400 0 028 D040400 579 028 E010400 309 028 E020400 0 028 E030400 0 028 E040400 613 028 F010400 302 028 F020400 0 028 F030400 0 028 F040400 534 028 G010400 1840 028 G020400 253 028 G030400 0 028 G040400 4187 028 H000400 0 037 000400 N 038 000400 0 039 000400 Y 040 000400 Y 041 000400 Y 042 A000400 75 042 B000400 23 042 C000400 0 042 D000400 0 042 E000400 0 042 F000400 0 042 G000400 0 042 H000400 2 043 000400 59 044 000400 420 045 000400 Y 046 000400 N 047 000400 Y 048 000400 1.10 048 A010400 0 048 A020400 0.000 048 B010400 0 048 B020400 0.000 048 C010400 0 048 C020400 0.000 048 D010400 0 048 D020400 0.000 048 E010400 0 048 E020400 0.000 048 F010400 0 PAGE 21 048 F020400 0.000 048 G010400 0 048 G020400 0.000 048 H010400 0 048 H020400 0.000 048 I010400 0 048 I020400 0.000 048 J010400 0 048 J020400 0.000 048 K010400 0 048 K020400 0.000 055 A000400 N 055 B000400 N 056 000400 N 057 000400 N 058 A000400 N 059 000400 Y 060 A000400 N 060 B000400 N 061 000400 3000 062 A000400 N 062 B000400 0.0 062 C000400 0.0 062 D000400 0.0 062 E000400 0.0 062 F000400 0.0 062 G000400 0.0 062 H000400 0.0 062 I000400 0.0 062 J000400 0.0 062 K000400 0.0 062 L000400 0.0 062 M000400 0.0 062 N000400 0.0 062 O000400 0.0 062 P000400 0.0 062 Q000400 0.0 062 R000400 0.0 066 A000400 Y 066 C000400 Y 067 000400 N 068 A000400 N 068 B000400 N 069 000400 N 070 A010400 Y 070 A020400 N 070 B010400 N 070 B020400 N 070 C010400 N 070 C020400 N 070 D010400 N PAGE 22 070 D020400 N 070 E010400 N 070 E020400 N 070 F010400 Y 070 F020400 N 070 G010400 N 070 G020400 N 070 H010400 Y 070 H020400 N 070 I010400 N 070 I020400 N 070 J010400 Y 070 J020400 N 070 K010400 Y 070 K020400 N 070 L010400 N 070 L020400 N 070 M010400 N 070 M020400 N 070 N010400 Y 070 N020400 N 070 O010400 Y 070 O020400 N 070 P010400 N 070 P020400 N 070 Q010400 N 070 Q020400 N 070 R010400 N 070 R020400 N 071 A000400 4820 071 B000400 8716 071 C000400 10706 071 D000400 45 072 A000400 12 072 B000400 30 072 C000400 108 072 D000400 0 072 E000400 0 072 F000400 129 072 G000400 0 072 H000400 0 072 I000400 61 072 J000400 25 072 K000400 0 072 L000400 20 072 M000400 11 072 N000400 19 072 O000400 0 072 P000400 0 072 Q000400 53 072 R000400 10 PAGE 23 072 S000400 25 072 T000400 59 072 U000400 27 072 V000400 0 072 W000400 11 072 X000400 450 072 Y000400 93 072 Z000400 -219 072AA000400 0 072BB000400 304 072CC010400 1056 072CC020400 0 072DD010400 0 072DD020400 0 072EE000400 0 073 A010400 0.0000 073 A020400 0.0000 073 B000400 0.2300 073 C000400 0.0000 074 A000400 28 074 B000400 0 074 C000400 0 074 D000400 0 074 E000400 0 074 F000400 9354 074 G000400 0 074 H000400 0 074 I000400 0 074 J000400 297 074 K000400 6 074 L000400 34 074 M000400 66 074 N000400 9785 074 O000400 48 074 P000400 0 074 Q000400 0 074 R010400 0 074 R020400 0 074 R030400 0 074 R040400 109 074 S000400 0 074 T000400 9628 074 U010400 1000 074 U020400 0 074 V010400 9.63 074 V020400 0.00 074 W000400 0.0000 074 X000400 1195 074 Y000400 0 075 A000400 0 075 B000400 11703 PAGE 24 076 000400 0.00 008 A000501 SHEFFIELD MANAGEMENT COMPANY 008 B000501 A 008 C000501 801-26537 008 D010501 NEW YORK 008 D020501 NY 008 D030501 10010 008 A000502 OFFITBANK 008 B000502 S 008 C000502 801-99999 008 D010502 NEW YORK 008 D020502 NY 008 D030502 10022 008 D040502 4213 015 A000501 UNITED STATES TRUST COMPANY OF NEW YORK 015 B000501 C 015 C010501 NEW YORK 015 C020501 NY 015 C030501 10036 015 E010501 X 015 A000502 MORGAN STANLEY TRUST COMPANY 015 B000502 S 015 C010502 BROOKLYN 015 C020502 NY 015 C030502 11201 015 E040502 X 028 A010500 6046 028 A020500 0 028 A030500 0 028 A040500 33260 028 B010500 6162 028 B020500 1417 028 B030500 0 028 B040500 34118 028 C010500 5005 028 C020500 1323 028 C030500 0 028 C040500 17700 028 D010500 7228 028 D020500 1246 028 D030500 0 028 D040500 10184 028 E010500 8346 028 E020500 1080 028 E030500 0 028 E040500 10765 028 F010500 5967 028 F020500 2151 028 F030500 0 028 F040500 12147 028 G010500 38754 PAGE 25 028 G020500 7217 028 G030500 0 028 G040500 118174 028 H000500 0 037 000500 N 038 000500 0 039 000500 Y 040 000500 Y 041 000500 Y 042 A000500 74 042 B000500 23 042 C000500 0 042 D000500 0 042 E000500 0 042 F000500 0 042 G000500 0 042 H000500 3 043 000500 908 044 000500 1227 045 000500 Y 046 000500 N 047 000500 Y 048 000500 0.750 048 A010500 0 048 A020500 0.000 048 B010500 0 048 B020500 0.000 048 C010500 0 048 C020500 0.000 048 D010500 0 048 D020500 0.000 048 E010500 0 048 E020500 0.000 048 F010500 0 048 F020500 0.000 048 G010500 0 048 G020500 0.000 048 H010500 0 048 H020500 0.000 048 I010500 0 048 I020500 0.000 048 J010500 0 048 J020500 0.000 048 K010500 0 048 K020500 0.000 055 A000500 Y 055 B000500 N 056 000500 N 057 000500 N 058 A000500 N 059 000500 Y PAGE 26 060 A000500 N 060 B000500 N 061 000500 3000 062 A000500 Y 062 B000500 0.0 062 C000500 0.0 062 D000500 0.0 062 E000500 0.0 062 F000500 0.0 062 G000500 0.0 062 H000500 0.0 062 I000500 0.0 062 J000500 0.0 062 K000500 0.0 062 L000500 2.0 062 M000500 38.0 062 N000500 24.0 062 O000500 0.0 062 P000500 23.0 062 Q000500 13.0 062 R000500 0.0 063 A000500 0 063 B000500 6.1 064 A000500 N 066 A000500 N 067 000500 N 068 A000500 N 068 B000500 N 069 000500 N 070 A010500 Y 070 A020500 N 070 B010500 Y 070 B020500 N 070 C010500 Y 070 C020500 N 070 D010500 Y 070 D020500 N 070 E010500 Y 070 E020500 N 070 F010500 Y 070 F020500 N 070 G010500 Y 070 G020500 N 070 H010500 Y 070 H020500 N 070 I010500 Y 070 I020500 N 070 J010500 Y 070 J020500 Y 070 K010500 Y 070 K020500 N PAGE 27 070 L010500 Y 070 L020500 Y 070 M010500 Y 070 M020500 Y 070 N010500 Y 070 N020500 N 070 O010500 Y 070 O020500 N 070 P010500 N 070 P020500 N 070 Q010500 N 070 Q020500 N 070 R010500 N 070 R020500 N 071 A000500 1540462 071 B000500 1793389 071 C000500 338738 071 D000500 455 072 A000500 12 072 B000500 29160 072 C000500 235 072 D000500 0 072 E000500 0 072 F000500 2724 072 G000500 0 072 H000500 0 072 I000500 1007 072 J000500 134 072 K000500 0 072 L000500 126 072 M000500 414 072 N000500 6 072 O000500 0 072 P000500 0 072 Q000500 246 072 R000500 136 072 S000500 25 072 T000500 908 072 U000500 30 072 V000500 0 072 W000500 15 072 X000500 5771 072 Y000500 43 072 Z000500 23667 072AA000500 0 072BB000500 25650 072CC010500 9037 072CC020500 0 072DD010500 23915 072DD020500 0 072EE000500 0 PAGE 28 073 A010500 0.3102 073 A020500 0.0000 073 B000500 0.0000 073 C000500 0.0000 074 A000500 303 074 B000500 0 074 C000500 3000 074 D000500 254883 074 E000500 0 074 F000500 0 074 G000500 0 074 H000500 0 074 I000500 0 074 J000500 334 074 K000500 0 074 L000500 5541 074 M000500 76 074 N000500 264137 074 O000500 0 074 P000500 0 074 Q000500 0 074 R010500 0 074 R020500 0 074 R030500 0 074 R040500 1714 074 S000500 0 074 T000500 262423 074 U010500 55757 074 U020500 0 074 V010500 4.71 074 V020500 0.00 074 W000500 0.0000 074 X000500 17426 074 Y000500 174 075 A000500 0 075 B000500 363155 076 000500 0.00 008 A000601 SHEFFIELD MANAGEMENT COMPANY 008 B000601 A 008 C000601 801-26537 008 D010601 NEW YORK 008 D020601 NY 008 D030601 10010 008 A000602 OFFITBANK 008 B000602 S 008 C000602 801-99999 008 D010602 NEW YORK 008 D020602 NY 008 D030602 10022 008 D040602 4213 015 A000601 UNITED STATES TRUST COMPANY OF NEW YORK PAGE 29 015 B000601 C 015 C010601 NEW YORK 015 C020601 NY 015 C030601 10036 015 E010601 X 015 A000602 MORGAN STANLEY TRUST COMPANY 015 B000602 S 015 C010602 BROOKLYN 015 C020602 NY 015 C030602 11201 015 E040602 X 028 A010600 866 028 A020600 0 028 A030600 0 028 A040600 3532 028 B010600 1005 028 B020600 97 028 B030600 0 028 B040600 4560 028 C010600 809 028 C020600 95 028 C030600 0 028 C040600 2166 028 D010600 1175 028 D020600 81 028 D030600 0 028 D040600 1019 028 E010600 1298 028 E020600 77 028 E030600 0 028 E040600 1300 028 F010600 806 028 F020600 180 028 F030600 0 028 F040600 1291 028 G010600 5959 028 G020600 530 028 G030600 0 028 G040600 13868 028 H000600 0 037 000600 N 038 000600 0 039 000600 N 040 000600 Y 041 000600 Y 042 A000600 78 042 B000600 20 042 C000600 0 042 D000600 0 042 E000600 0 042 F000600 0 PAGE 30 042 G000600 0 042 H000600 2 043 000600 79 044 000600 486 045 000600 Y 046 000600 N 047 000600 Y 048 000600 0.750 048 A010600 0 048 A020600 0.000 048 B010600 0 048 B020600 0.000 048 C010600 0 048 C020600 0.000 048 D010600 0 048 D020600 0.000 048 E010600 0 048 E020600 0.000 048 F010600 0 048 F020600 0.000 048 G010600 0 048 G020600 0.000 048 H010600 0 048 H020600 0.000 048 I010600 0 048 I020600 0.000 048 J010600 0 048 J020600 0.000 048 K010600 0 048 K020600 0.000 055 A000600 N 055 B000600 N 056 000600 N 057 000600 N 058 A000600 N 059 000600 Y 060 A000600 N 060 B000600 N 061 000600 3000 062 A000600 Y 062 B000600 0.0 062 C000600 0.0 062 D000600 0.0 062 E000600 0.0 062 F000600 0.0 062 G000600 0.0 062 H000600 0.0 062 I000600 0.0 062 J000600 0.0 062 K000600 0.0 062 L000600 0.0 PAGE 31 062 M000600 61.0 062 N000600 6.0 062 O000600 0.0 062 P000600 30.0 062 Q000600 3.0 062 R000600 0.0 063 A000600 0 063 B000600 2.2 064 A000600 N 066 A000600 N 067 000600 N 068 A000600 N 068 B000600 N 069 000600 N 070 A010600 Y 070 A020600 N 070 B010600 Y 070 B020600 N 070 C010600 Y 070 C020600 N 070 D010600 Y 070 D020600 N 070 E010600 Y 070 E020600 N 070 F010600 Y 070 F020600 N 070 G010600 Y 070 G020600 N 070 H010600 Y 070 H020600 N 070 I010600 Y 070 I020600 N 070 J010600 Y 070 J020600 N 070 K010600 Y 070 K020600 N 070 L010600 Y 070 L020600 Y 070 M010600 Y 070 M020600 Y 070 N010600 Y 070 N020600 N 070 O010600 Y 070 O020600 N 070 P010600 N 070 P020600 N 070 Q010600 N 070 Q020600 N 070 R010600 N 070 R020600 N 071 A000600 33808 PAGE 32 071 B000600 24658 071 C000600 29487 071 D000600 84 072 A000600 12 072 B000600 1934 072 C000600 0 072 D000600 0 072 E000600 0 072 F000600 236 072 G000600 0 072 H000600 0 072 I000600 76 072 J000600 36 072 K000600 0 072 L000600 25 072 M000600 37 072 N000600 28 072 O000600 0 072 P000600 0 072 Q000600 96 072 R000600 17 072 S000600 17 072 T000600 79 072 U000600 15 072 V000600 0 072 W000600 4 072 X000600 666 072 Y000600 235 072 Z000600 1503 072AA000600 0 072BB000600 572 072CC010600 443 072CC020600 0 072DD010600 1522 072DD020600 0 072EE000600 0 073 A010600 0.1400 073 A020600 0.0000 073 B000600 0.0000 073 C000600 0.0000 074 A000600 48 074 B000600 0 074 C000600 740 074 D000600 22212 074 E000600 0 074 F000600 0 074 G000600 0 074 H000600 0 074 I000600 0 074 J000600 0 074 K000600 0 PAGE 33 074 L000600 543 074 M000600 49 074 N000600 23592 074 O000600 0 074 P000600 0 074 Q000600 0 074 R010600 0 074 R020600 0 074 R030600 0 074 R040600 147 074 S000600 0 074 T000600 23445 074 U010600 7985 074 U020600 0 074 V010600 2.94 074 V020600 0.00 074 W000600 0.0000 074 X000600 1558 074 Y000600 0 075 A000600 0 075 B000600 31320 076 000600 0.00 008 A000701 SHEFFIELD MANAGEMENT COMPANY 008 B000701 A 008 C000701 801-26537 008 D010701 NEW YORK 008 D020701 NY 008 D030701 10010 008 A000702 UNITED STATES TRUST COMPANY OF NEW YORK 008 B000702 S 008 C000702 801-99999 008 D010702 NEW YORK 008 D020702 NY 008 D030702 10036 008 D040702 1532 015 A000701 UNITED STATES TRUST COMPANY OF NEW YORK 015 B000701 C 015 C010701 NEW YORK 015 C020701 NY 015 C030701 10036 015 C040701 1532 015 E010701 X 028 A010700 603 028 A020700 0 028 A030700 0 028 A040700 2557 028 B010700 1078 028 B020700 58 028 B030700 0 028 B040700 2234 028 C010700 657 PAGE 34 028 C020700 60 028 C030700 0 028 C040700 710 028 D010700 479 028 D020700 62 028 D030700 0 028 D040700 584 028 E010700 575 028 E020700 52 028 E030700 0 028 E040700 706 028 F010700 1614 028 F020700 113 028 F030700 0 028 F040700 1671 028 G010700 5006 028 G020700 345 028 G030700 0 028 G040700 8462 028 H000700 0 037 000700 N 038 000700 0 039 000700 N 040 000700 Y 041 000700 Y 042 A000700 82 042 B000700 15 042 C000700 0 042 D000700 0 042 E000700 0 042 F000700 0 042 G000700 0 042 H000700 3 043 000700 51 044 000700 509 045 000700 Y 048 000700 0.750 048 A010700 0 048 A020700 0.000 048 B010700 0 048 B020700 0.000 048 C010700 0 048 C020700 0.000 048 D010700 0 048 D020700 0.000 048 E010700 0 048 E020700 0.000 048 F010700 0 048 F020700 0.000 048 G010700 0 048 G020700 0.000 PAGE 35 048 H010700 0 048 H020700 0.000 048 I010700 0 048 I020700 0.000 048 J010700 0 048 J020700 0.000 048 K010700 0 048 K020700 0.000 055 A000700 N 055 B000700 N 056 000700 N 057 000700 N 058 A000700 N 059 000700 Y 060 A000700 N 060 B000700 N 061 000700 3000 062 A000700 Y 062 B000700 0.0 062 C000700 0.0 062 D000700 0.0 062 E000700 0.0 062 F000700 0.0 062 G000700 0.0 062 H000700 0.0 062 I000700 0.0 062 J000700 0.0 062 K000700 0.0 062 L000700 12.0 062 M000700 0.0 062 N000700 0.0 062 O000700 88.0 062 P000700 0.0 062 Q000700 0.0 062 R000700 0.0 063 A000700 0 063 B000700 21.3 064 A000700 N 066 A000700 N 067 000700 N 068 A000700 N 068 B000700 N 069 000700 N 070 A010700 Y 070 A020700 N 070 B010700 N 070 B020700 N 070 C010700 Y 070 C020700 N 070 D010700 N 070 D020700 N PAGE 36 070 E010700 Y 070 E020700 N 070 F010700 N 070 F020700 N 070 G010700 Y 070 G020700 N 070 H010700 N 070 H020700 N 070 I010700 Y 070 I020700 N 070 J010700 Y 070 J020700 N 070 K010700 Y 070 K020700 Y 070 L010700 N 070 L020700 N 070 M010700 N 070 M020700 N 070 N010700 Y 070 N020700 N 070 O010700 Y 070 O020700 N 070 P010700 N 070 P020700 N 070 Q010700 N 070 Q020700 N 070 R010700 N 070 R020700 N 071 A000700 35861 071 B000700 39180 071 C000700 21072 071 D000700 170 072 A000700 12 072 B000700 1244 072 C000700 0 072 D000700 0 072 E000700 0 072 F000700 152 072 G000700 0 072 H000700 0 072 I000700 48 072 J000700 9 072 K000700 0 072 L000700 20 072 M000700 29 072 N000700 22 072 O000700 0 072 P000700 0 072 Q000700 81 072 R000700 14 072 S000700 14 PAGE 37 072 T000700 51 072 U000700 18 072 V000700 0 072 W000700 2 072 X000700 460 072 Y000700 248 072 Z000700 1032 072AA000700 0 072BB000700 1144 072CC010700 1891 072CC020700 0 072DD010700 1045 072DD020700 0 072EE000700 0 073 A010700 0.2400 073 A020700 0.0000 073 B000700 0.0000 073 C000700 0.0000 074 A000700 0 074 B000700 0 074 C000700 0 074 D000700 17150 074 E000700 0 074 F000700 0 074 G000700 0 074 H000700 0 074 I000700 106 074 J000700 0 074 K000700 0 074 L000700 2227 074 M000700 61 074 N000700 19544 074 O000700 0 074 P000700 0 074 Q000700 0 074 R010700 0 074 R020700 0 074 R030700 0 074 R040700 48 074 S000700 0 074 T000700 19496 074 U010700 3878 074 U020700 0 074 V010700 5.03 074 V020700 0.00 074 W000700 0.0000 074 X000700 1092 074 Y000700 0 075 A000700 0 075 B000700 21202 076 000700 0.00 PAGE 38 008 A000801 SHEFFIELD MANAGEMENT COMPANY 008 B000801 A 008 C000801 801-26537 008 D010801 NEW YORK 008 D020801 NY 008 D030801 10010 008 A000802 OFFITBANK 008 B000802 S 008 C000802 801-999999 008 D010802 NEW YORK 008 D020802 NY 008 D030802 10022 008 D040802 4213 008 A000803 MARTIN CURRIE INC. 008 B000803 S 008 C000803 801-999999 008 D010803 EDINBURGH 008 D050803 SCOTLAND 008 D060803 E81 2ES 015 A000801 UNITED STATES TRUST COMPANY OF NEW YORK 015 B000801 C 015 C010801 NEW YORK 015 C020801 NY 015 C030801 10036 015 C040801 1532 015 E010801 X 015 A000802 MORGAN STANLEY TRUST COMPANY 015 B000802 S 015 C010802 BROOKLYN 015 C020802 NY 015 C030802 11201 015 E040802 X 028 A010800 911 028 A020800 0 028 A030800 0 028 A040800 1169 028 B010800 626 028 B020800 0 028 B030800 0 028 B040800 1806 028 C010800 322 028 C020800 0 028 C030800 0 028 C040800 1103 028 D010800 468 028 D020800 0 028 D030800 0 028 D040800 1048 028 E010800 515 028 E020800 0 028 E030800 0 PAGE 39 028 E040800 1126 028 F010800 626 028 F020800 0 028 F030800 0 028 F040800 811 028 G010800 3468 028 G020800 0 028 G030800 0 028 G040800 7063 028 H000800 0 037 000800 N 038 000800 0 039 000800 N 040 000800 Y 041 000800 Y 042 A000800 73 042 B000800 24 042 C000800 0 042 D000800 0 042 E000800 0 042 F000800 0 042 G000800 0 042 H000800 3 043 000800 72 044 000800 1010 045 000800 Y 046 000800 N 047 000800 Y 048 000800 1.250 048 A010800 0 048 A020800 0.000 048 B010800 0 048 B020800 0.000 048 C010800 0 048 C020800 0.000 048 D010800 0 048 D020800 0.000 048 E010800 0 048 E020800 0.000 048 F010800 0 048 F020800 0.000 048 G010800 0 048 G020800 0.000 048 H010800 0 048 H020800 0.000 048 I010800 0 048 I020800 0.000 048 J010800 0 048 J020800 0.000 048 K010800 0 048 K020800 0.000 PAGE 40 055 A000800 N 055 B000800 N 056 000800 N 057 000800 N 058 A000800 N 059 000800 Y 060 A000800 N 060 B000800 N 061 000800 3000 062 A000800 N 062 B000800 0.0 062 C000800 0.0 062 D000800 0.0 062 E000800 0.0 062 F000800 0.0 062 G000800 0.0 062 H000800 0.0 062 I000800 0.0 062 J000800 0.0 062 K000800 0.0 062 L000800 0.0 062 M000800 0.0 062 N000800 0.0 062 O000800 0.0 062 P000800 0.0 062 Q000800 0.0 062 R000800 0.0 066 A000800 Y 066 C000800 Y 067 000800 N 068 A000800 N 068 B000800 Y 069 000800 N 070 A010800 Y 070 A020800 N 070 B010800 Y 070 B020800 N 070 C010800 Y 070 C020800 N 070 D010800 Y 070 D020800 N 070 E010800 Y 070 E020800 N 070 F010800 Y 070 F020800 N 070 G010800 Y 070 G020800 N 070 H010800 Y 070 H020800 N 070 I010800 Y 070 I020800 N PAGE 41 070 J010800 Y 070 J020800 Y 070 K010800 Y 070 K020800 Y 070 L010800 Y 070 L020800 Y 070 M010800 Y 070 M020800 Y 070 N010800 N 070 N020800 N 070 O010800 Y 070 O020800 N 070 P010800 N 070 P020800 N 070 Q010800 N 070 Q020800 N 070 R010800 N 070 R020800 N 071 A000800 29005 071 B000800 16231 071 C000800 12287 071 D000800 132 072 A000800 12 072 B000800 187 072 C000800 122 072 D000800 0 072 E000800 0 072 F000800 175 072 G000800 0 072 H000800 0 072 I000800 54 072 J000800 91 072 K000800 0 072 L000800 19 072 M000800 17 072 N000800 27 072 O000800 0 072 P000800 0 072 Q000800 73 072 R000800 26 072 S000800 22 072 T000800 72 072 U000800 29 072 V000800 0 072 W000800 1 072 X000800 606 072 Y000800 90 072 Z000800 -207 072AA000800 0 072BB000800 2460 072CC010800 0 PAGE 42 072CC020800 1382 072DD010800 0 072DD020800 0 072EE000800 0 073 A010800 0.0000 073 A020800 0.0000 073 B000800 0.0000 073 C000800 0.0000 074 A000800 479 074 B000800 0 074 C000800 350 074 D000800 258 074 E000800 0 074 F000800 10947 074 G000800 0 074 H000800 0 074 I000800 0 074 J000800 452 074 K000800 0 074 L000800 188 074 M000800 271 074 N000800 12945 074 O000800 762 074 P000800 0 074 Q000800 0 074 R010800 0 074 R020800 0 074 R030800 0 074 R040800 45 074 S000800 0 074 T000800 12138 074 U010800 1895 074 U020800 0 074 V010800 6.40 074 V020800 0.00 074 W000800 0.0000 074 X000800 1659 074 Y000800 0 075 A000800 0 075 B000800 14363 076 000800 0.00 008 A000901 SHEFFIELD MANAGEMENT CO. 008 B000901 A 008 C000901 801-26537 008 D010901 NEW YORK 008 D020901 NY 008 D030901 10010 008 A000902 THE CHASE MANHATTAN CORPORATION 008 B000902 S 008 C000902 801-299999 008 D010902 NEW YORK PAGE 43 008 D020902 NY 008 D030902 10036 015 A000901 U. S. TRUST COMPANY OF NEW YORK 015 B000901 C 015 C010901 NEW YORK 015 C020901 NY 015 C030901 10003 015 E010901 X 028 A010900 1109 028 A020900 0 028 A030900 0 028 A040900 116 028 B010900 540 028 B020900 2 028 B030900 0 028 B040900 62 028 C010900 1045 028 C020900 0 028 C030900 0 028 C040900 124 028 D010900 420 028 D020900 0 028 D030900 0 028 D040900 63 028 E010900 1091 028 E020900 0 028 E030900 0 028 E040900 841 028 F010900 1975 028 F020900 0 028 F030900 0 028 F040900 1213 028 G010900 6182 028 G020900 2 028 G030900 0 028 G040900 2419 028 H000900 0 037 000900 N 038 000900 0 039 000900 N 040 000900 Y 041 000900 Y 042 A000900 67 042 B000900 26 042 C000900 0 042 D000900 0 042 E000900 0 042 F000900 0 042 G000900 0 042 H000900 7 043 000900 5 PAGE 44 044 000900 516 045 000900 Y 046 000900 N 047 000900 Y 048 000900 0.700 048 A010900 0 048 A020900 0.000 048 B010900 0 048 B020900 0.000 048 C010900 0 048 C020900 0.000 048 D010900 0 048 D020900 0.000 048 E010900 0 048 E020900 0.000 048 F010900 0 048 F020900 0.000 048 G010900 0 048 G020900 0.000 048 H010900 0 048 H020900 0.000 048 I010900 0 048 I020900 0.000 048 J010900 0 048 J020900 0.000 048 K010900 0 048 K020900 0.000 055 A000900 N 055 B000900 N 056 000900 N 057 000900 N 058 A000900 N 059 000900 Y 060 A000900 N 060 B000900 N 061 000900 3000 062 A000900 N 062 B000900 0.0 062 C000900 0.0 062 D000900 0.0 062 E000900 0.0 062 F000900 0.0 062 G000900 0.0 062 H000900 0.0 062 I000900 0.0 062 J000900 0.0 062 K000900 0.0 062 L000900 0.0 062 M000900 0.0 062 N000900 0.0 062 O000900 0.0 PAGE 45 062 P000900 0.0 062 Q000900 0.0 062 R000900 0.0 066 A000900 Y 066 C000900 Y 067 000900 N 068 A000900 N 068 B000900 Y 069 000900 N 070 A010900 Y 070 A020900 N 070 B010900 Y 070 B020900 N 070 C010900 Y 070 C020900 N 070 D010900 Y 070 D020900 Y 070 E010900 Y 070 E020900 Y 070 F010900 Y 070 F020900 Y 070 G010900 Y 070 G020900 N 070 H010900 Y 070 H020900 N 070 I010900 Y 070 I020900 Y 070 J010900 Y 070 J020900 Y 070 K010900 Y 070 K020900 N 070 L010900 Y 070 L020900 Y 070 M010900 Y 070 M020900 Y 070 N010900 Y 070 N020900 N 070 O010900 N 070 O020900 N 070 P010900 N 070 P020900 N 070 Q010900 N 070 Q020900 N 070 R010900 N 070 R020900 N 071 A000900 999999999 071 B000900 999999999 071 C000900 999999999 071 D000900 999 072 A000900 6 072 B000900 32 PAGE 46 072 C000900 0 072 D000900 0 072 E000900 0 072 F000900 7 072 G000900 0 072 H000900 0 072 I000900 7 072 J000900 0 072 K000900 0 072 L000900 0 072 M000900 4 072 N000900 5 072 O000900 0 072 P000900 0 072 Q000900 0 072 R000900 2 072 S000900 6 072 T000900 5 072 U000900 9 072 V000900 0 072 W000900 0 072 X000900 45 072 Y000900 2 072 Z000900 -12 072AA000900 26 072BB000900 0 072CC010900 195 072CC020900 0 072DD010900 2 072DD020900 0 072EE000900 0 073 A010900 0.0100 073 A020900 0.0000 073 B000900 0.0000 073 C000900 0.0000 074 A000900 0 074 B000900 0 074 C000900 0 074 D000900 0 074 E000900 0 074 F000900 0 074 G000900 0 074 H000900 0 074 I000900 4002 074 J000900 0 074 K000900 0 074 L000900 0 074 M000900 82 074 N000900 4084 074 O000900 0 074 P000900 91 PAGE 47 074 Q000900 0 074 R010900 0 074 R020900 0 074 R030900 0 074 R040900 23 074 S000900 0 074 T000900 3970 074 U010900 539 074 U020900 0 074 V010900 7.37 074 V020900 0.00 074 W000900 0.0000 074 X000900 374 074 Y000900 0 075 A000900 0 075 B000900 2105 076 000900 0.00 008 A001001 SHEFFIELD MANAGEMENT COMPANY 008 B001001 A 008 C001001 801-26537 008 D011001 NEW YORK 008 D021001 NY 008 D031001 10010 008 A001002 THE CHASE MANHATTAN BANK 008 B001002 S 008 C001002 801-299999 008 D011002 NEW YORK 008 D021002 NY 008 D031002 10036 015 A001001 U. S. TRUST COMPANY OF NEW YORK 015 B001001 C 015 C011001 NEW YORK 015 C021001 NY 015 C031001 10003 015 E011001 X 028 A011000 516 028 A021000 0 028 A031000 0 028 A041000 0 028 B011000 382 028 B021000 0 028 B031000 0 028 B041000 54 028 C011000 423 028 C021000 0 028 C031000 0 028 C041000 86 028 D011000 300 028 D021000 0 028 D031000 0 028 D041000 251 PAGE 48 028 E011000 257 028 E021000 0 028 E031000 0 028 E041000 102 028 F011000 125 028 F021000 0 028 F031000 0 028 F041000 48 028 G011000 2003 028 G021000 0 028 G031000 0 028 G041000 541 028 H001000 0 037 001000 N 038 001000 0 039 001000 N 040 001000 Y 041 001000 Y 042 A001000 68 042 B001000 24 042 C001000 0 042 D001000 0 042 E001000 0 042 F001000 0 042 G001000 0 042 H001000 8 043 001000 2 044 001000 568 045 001000 Y 046 001000 N 047 001000 Y 048 001000 0.700 048 A011000 0 048 A021000 0.000 048 B011000 0 048 B021000 0.000 048 C011000 0 048 C021000 0.000 048 D011000 0 048 D021000 0.000 048 E011000 0 048 E021000 0.000 048 F011000 0 048 F021000 0.000 048 G011000 0 048 G021000 0.000 048 H011000 0 048 H021000 0.000 048 I011000 0 048 I021000 0.000 048 J011000 0 PAGE 49 048 J021000 0.000 048 K011000 0 048 K021000 0.000 055 A001000 N 055 B001000 N 056 001000 N 057 001000 N 058 A001000 N 059 001000 Y 060 A001000 N 060 B001000 N 061 001000 3000 062 A001000 N 062 B001000 0.0 062 C001000 0.0 062 D001000 0.0 062 E001000 0.0 062 F001000 0.0 062 G001000 0.0 062 H001000 0.0 062 I001000 0.0 062 J001000 0.0 062 K001000 0.0 062 L001000 0.0 062 M001000 0.0 062 N001000 0.0 062 O001000 0.0 062 P001000 0.0 062 Q001000 0.0 062 R001000 0.0 066 A001000 Y 066 C001000 Y 067 001000 N 068 A001000 N 068 B001000 Y 069 001000 N 070 A011000 Y 070 A021000 N 070 B011000 Y 070 B021000 N 070 C011000 Y 070 C021000 N 070 D011000 Y 070 D021000 N 070 E011000 Y 070 E021000 N 070 F011000 Y 070 F021000 N 070 G011000 Y 070 G021000 N 070 H011000 Y PAGE 50 070 H021000 N 070 I011000 Y 070 I021000 N 070 J011000 Y 070 J021000 Y 070 K011000 Y 070 K021000 N 070 L011000 Y 070 L021000 Y 070 M011000 Y 070 M021000 N 070 N011000 Y 070 N021000 N 070 O011000 N 070 O021000 N 070 P011000 N 070 P021000 N 070 Q011000 N 070 Q021000 N 070 R011000 N 070 R021000 N 071 A001000 99999999 071 B001000 99999999 071 C001000 99999999 071 D001000 9999 072 A001000 6 072 B001000 8 072 C001000 0 072 D001000 0 072 E001000 0 072 F001000 3 072 G001000 0 072 H001000 0 072 I001000 6 072 J001000 0 072 K001000 0 072 L001000 0 072 M001000 2 072 N001000 4 072 O001000 0 072 P001000 0 072 Q001000 0 072 R001000 2 072 S001000 4 072 T001000 3 072 U001000 9 072 V001000 0 072 W001000 0 072 X001000 33 072 Y001000 1 072 Z001000 -24 PAGE 51 072AA001000 18 072BB001000 0 072CC011000 77 072CC021000 0 072DD011000 0 072DD021000 0 072EE001000 0 073 A011000 0.0000 073 A021000 0.0000 073 B001000 0.0000 073 C001000 0.0000 074 A001000 0 074 B001000 0 074 C001000 0 074 D001000 0 074 E001000 0 074 F001000 0 074 G001000 0 074 H001000 0 074 I001000 1555 074 J001000 0 074 K001000 0 074 L001000 0 074 M001000 84 074 N001000 1639 074 O001000 0 074 P001000 89 074 Q001000 0 074 R011000 0 074 R021000 0 074 R031000 0 074 R041000 17 074 S001000 0 074 T001000 1533 074 U011000 212 074 U021000 0 074 V011000 7.22 074 V021000 0.00 074 W001000 0.0000 074 X001000 163 074 Y001000 0 075 A001000 0 075 B001000 988 076 001000 0.00 SIGNATURE YOLONDA REYNOLDS TITLE ASST. TREASURER EX-99 2 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard 100% Treasury Money Market Fund In planning and performing our audit of the financial statements of Blanchard 100% Treasury Money Market Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 3 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard American Equity Fund In planning and performing our audit of the financial statements of Blanchard American Equity Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 4 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard Worldwide Emerging Markets Fund In planning and performing our audit of the financial statements of Blanchard Emerging Worldwide Markets Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 5 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard Flexible Income Fund In planning and performing our audit of the financial statements of Blanchard Flexible Income Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 6 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard Global Growth Fund In planning and performing our audit of the financial statements of Blanchard Global Growth Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 7 NSAR ATTACMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard Short-Term Global Income Fund In planning and performing our audit of the financial statements of Blanchard Short-Term Global Income Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 8 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard Short-Term Bond Fund In planning and performing our audit of the financial statements of Blanchard Short-Term Bond Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP EX-99 9 NSAR ATTACHMENT: ACCT'S REPORT ON INTERNAL CONTROL June 20, 1995 To the Board of Trustees of Blanchard Flexible Tax-Free Bond Fund In planning and performing our audit of the financial statements of Blanchard Flexible Tax-Free Bond Fund (the "Fund") for the year ended April 30, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure 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 the internal control structure would not necessarily disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of April 30, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP -----END PRIVACY-ENHANCED MESSAGE-----