-----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, MJk4KAL0mYjiw0HoYlOyBJaBpCHUHgo2/BD2nmZo+StrZdm9bDNm7B3+g4qK2Hys p8Vp/U9IHzrf5mRuZwATqw== /in/edgar/work/20000526/0000950168-00-001466/0000950168-00-001466.txt : 20000919 0000950168-00-001466.hdr.sgml : 20000919 ACCESSION NUMBER: 0000950168-00-001466 CONFORMED SUBMISSION TYPE: N-14/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20000526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONS INSTITUTIONAL RESERVES CENTRAL INDEX KEY: 0000859750 STANDARD INDUSTRIAL CLASSIFICATION: [ ] STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: N-14/A SEC ACT: SEC FILE NUMBER: 333-37006 FILM NUMBER: 645050 BUSINESS ADDRESS: STREET 1: ONE NATIONSBANK PLZ CITY: CHARLOTTE STATE: NC ZIP: 28255 BUSINESS PHONE: 8003425734 MAIL ADDRESS: STREET 1: ONE NATIONSBANK PLAZA CITY: CHARLOTTE STATE: NC ZIP: 28255 FORMER COMPANY: FORMER CONFORMED NAME: CAPITOL MUTUAL FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SEI CAPITOL FUNDS DATE OF NAME CHANGE: 19900318 N-14/A 1 PRE-EFFECTIVE AMENDMENT NO. 2 As filed with the Securities and Exchange Commission on May 26, 2000 Registration No. 333-37006 ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 - -------------------------------------------------------------------------------- FORM N-14 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |X| Pre-Effective Amendment No. 2 |X| Post-Effective Amendment No. ___ |_| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1940 |_| Amendment No. ___ |_| (Check appropriate box or boxes) ------------------------ THE CAPITOL MUTUAL FUNDS (Exact Name of Registrant as specified in Charter) 111 Center Street Little Rock, Arkansas 72201 (Address of Principal Executive Offices, including Zip Code) -------------------------- Registrant's Telephone Number, including Area Code: (800) 626-2275 Richard H. Blank, Jr. c/o Stephens Inc. 111 Center Street Little Rock, Arkansas 72201 (Name and Address of Agent for Service) With copies to: Robert M. Kurucza, Esq. Marco E. Adelfio, Esq. Morrison & Foerster LLP 2000 Pennsylvania Ave., N.W. Suite 5500 Washington, D.C. 20006 It is proposed that this filing will become effective on June 9, 2000 pursuant to a request for acceleration, but in any event no later than June 24, 2000. No filing fee is required under the Securities Act of 1933 because an indefinite number of shares of beneficial interest in the Registrant, without par value, has previously been registered pursuant to Rule 24f-2 under the Investment Company Act of 1940, as amended. The Registrant filed on August 13, 1999, the notice required by Rule 24f-2 for its fiscal year ended March 31, 1999 (File No. 33-33144; 811-6030). Explanatory Note ---------------- This Pre-Effective Amendment No. 2 to the Registration Statement on Form N-14 (the "Registration Statement") of Nations Reserves (the "Trust") is being filed in order to add the auditor's consent and pro forma statement of assets and liabilities and pro forma statement of operations to Part B of the Registration Statement. All other parts of the Registration Statement are hereby incorporated by reference. NATIONS INTERNATIONAL GROWTH FUND / NATIONS INTERNATIONAL EQUITY FUND Pro Forma Combining Statement of Net Assets (unaudited) MARCH 31, 2000
NATIONS NATIONS INTERNATIONAL NATIONS INTERNATIONAL EQUITY MASTER INTERNATIONAL ADJUSTMENTS TO PRO FORMA GROWTH FUND PORTFOLIO EQUITY FUND PRO FORMA COMBINED (IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S) ------------------------------------------------------------- ------------ Total Investments in Master Portfolio $ 135,548 $ 1,021,188 $ - $ 1,156,736 ========== ============ =========== Nations Master Investment Trust, International Equity Portfolio Investments in securities in Master Portfolio - - $ 913,055 135,548 (a) 1,048,603 OTHER ASSETS AND LIABILITIES: Cash 335 - - 335 Receivable for investment securities sold 6,685 - - 6,685 Receivable for Fund shares sold 11,618 - 31,258 42,876 Dividend and interest receivable 304 - - 304 Prepaid expenses - - 261 261 Collateral on securities loaned (15,979) - - (15,979) Payable for Fund shared redeemed (1,230) - (1,426) (2,656) Investment advisory fee payable (104) - - (104) Administration fee payable (28) - (134) (162) Shareholder servicing and distribution fees payable (9) - (37) (46) Payable for investment securities purchased (6,864) - - (6,864) Accrued Directors' fees and expenses (16) - (59) (75) Other (54) - (16) (70) ------------------------------------------------------------- ------------ Total Other Assets and Liabilities (5,342) - 29,847 135,548 24,505 ------------------------------------------------------------- ------------ NET ASSETS $ 130,206 $ 1,021,188 $ 942,902 $ 135,548 $ 1,073,108 ============================================================= ============ NET ASSETS BY CLASS: Primary A $ 96,460 $ - $ 866,731 $ - $ 963,191 Primary B - - - - - Investor A 31,710 - 43,111 - 74,821 Investor B 1,493 - 32,073 - 33,566 Investor C 543 - 987 - 1,530 ------------------------------------------------------------- ------------ $ 130,206 $ 942,902 $ - $ 1,073,108 ------------------------------------------------------------- ------------ SHARES OUTSTANDING BY CLASS: Primary A 6,786 - 51,785 (1,024)(b) 57,547 Primary B - - - - - Investor A 2,285 - 2,611 (364)(b) 4,532 Investor B 111 - 1,997 (18)(b) 2,090 Investor C 39 - 63 (5)(b) 97 ------------------------------------------------------------- ------------ 9,221 - 56,456 (1,411) 64,266 ------------------------------------------------------------- ------------ NET ASSET VALUE PER SHARE BY CLASS: Primary A $ 14.21 $ - $ 16.74 $ - $ 16.74 Primary B $ - $ - $ - $ - $ - Investor A $ 13.88 $ - $ 16.51 $ - $ 16.51 Investor B $ 13.42 $ - $ 16.06 $ - $ 16.06 Investor C $ 13.92 $ - $ 15.72 $ - $ 15.72
(a) Investment securities from International Growth invested in the International Equity Master Portfolio (b) Reflects the issuance of Nations International Equity Fund shares to holders of shares of Nations International Growth Fund. SEE NOTES TO PRO FORMA FINANCIAL STATEMENTS Nations International Growth Fund / Nations International Equity Fund Pro Forma Combining Statement of Operations (unaudited) TWELVE MONTH PERIOD ENDING MARCH 31, 2000
NATIONS NATIONS INTERNATIONAL NATIONS INTERNATIONAL EQUITY MASTER INTERNATIONAL ADJUSTMENTS TO PRO FORMA GROWTH FUND PORTFOLIO EQUITY FUND PRO FORMA COMBINED (IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S) ------------------------------------------------------------- ---------- INVESTMENT INCOME: Interest $457 $ - $ - $457 Interest allocated from Portfolio - - $1,179 1,179 Dividends (net of foreign withholding taxes of $268) 1,953 - - - 1,953 Dividends allocated from Portfolio (net of foreign withholding taxes of $1,644) - - 13,695 13,695 Securities lending 61 - - - 61 Expenses allocated from Portfolio - - (3,760) - (3,760) ------------------------------------------------------------- ---------- Total Investment Income 2,471 - 11,114 - 13,585 ------------------------------------------------------------- ---------- EXPENSES: Investment advisory fee 1,459 - 3,366 (127)(a) 4,698 Administration fee 368 - 1,492 125 (a) 1,985 Transfer agent fee 74 - 294 - 368 Custodian fees (c) 78 - 261 (66)(b) 273 Legal and audit fees 159 - 87 (86)(b) 160 Registration & filing fees 31 - 65 (20)(b) 76 Directors' fees and expenses 19 - 19 (19)(b) 19 Interest expense 25 - 6 (31)(d) - Printing 42 - 97 (20)(b) 119 Other expenses 287 - 35 (302)(c) 20 ------------------------------------------------------------- ---------- Subtotal 2,542 - 5,722 (546) 7,718 ------------------------------------------------------------- ---------- SHAREHOLDER SERVICING AND DISTRIBUTION FEES Primary B - - - - - Investor A 71 - 74 - 145 Investor B 13 - 295 - 308 Investor C 5 - 10 - 15 ------------------------------------------------------------- ---------- Subtotal 89 - 379 - 468 ------------------------------------------------------------- ---------- Fees waived and/or reimbursed by investment advisor, administrator and/or distributor (30) - (215) 245 (e) - ------------------------------------------------------------- ---------- TOTAL EXPENSES 2,601 - 5,886 (301) 8,186 ------------------------------------------------------------- ---------- NET INVESTMENT INCOME (130) - 5,228 301 5,399 ------------------------------------------------------------- ---------- NET REALIZED AND UNREALIZED GAIN/(LOSS) ON INVESTMENTS: Net realized gain/(loss) from: Security transactions 65,606 - - 65,606 Security transactions allocated from Portfolio - - 190,991 190,991 Futures contracts (187) - - (187) Forward foreign exchange contracts and foreign currency transactions (238) - - (238) Forward foreign exchange contracts and foreign currency transactions allocated from Portfolio - - (1,216) (1,216) ------------------------------------------------------------- ---------- Net realized gain/(loss) on investments 65,181 - 189,775 254,956 ------------------------------------------------------------- ---------- Change in unrealized appreciation/(depreciation) of: Securities (22,928) - - (22,928) Securities allocated from Portfolio - - 88,733 88,733 Futures contracts - - - - Forward foreign exchange contracts, foreign currencies and other net assets (10) - - (10) Forward foreign exchange contracts, foreign currencies and other net assets allocated from Portfolio - - 94 94 ------------------------------------------------------------- ---------- Net change in unrealized appreciation/ (depreciation) of investments (22,938) - 88,827 65,889 ------------------------------------------------------------- ---------- Net realized and unrealized gain/(loss) on investments 42,243 - 278,602 - 320,845 ------------------------------------------------------------- ---------- NET INCREASE/(DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $42,113 $ - $283,830 $301 $326,244 ============================================================= ==========
LEGEND: (a) Adjustment for reallocating advisory to admin fees. (b) Adjustment reflects expected savings when the two funds become one. (c) Adjustment for duplication of expenses due to consolidation of the funds. (d) Adjustment for interest expense since this is dependent upon portfolio decision-making. (e) Adjustment for inapplicability of expense cap. See Notes to Pro Forma Financial Statements SIGNATURES ---------- Pursuant to the requirements of the Securities Act of 1933, the Registrant has duly caused this Pre-Effective Amendment No. 2 to the Registration Statement on N-14 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Little Rock, State of Arkansas on the 26th day of May, 2000. NATIONS RESERVES By: * ---------------------------------- A. Max Walker President and Chairman of the Board of Trustees By: /s/ Richard H. Blank, Jr. ---------------------------------- Richard H. Blank, Jr. *Attorney-in-Fact Pursuant to the requirements of the Securities Act of 1933, this Pre-Effective Amendment No. 2 Registration Statement on Form N-14 has been signed below by the following persons in the capacities and on the date indicated:
SIGNATURES TITLE DATE ---------- ----- ---- * President and Chairman May 26, 2000 - ---------------------------------------- of the Board of Trustees (A. Max Walker) (Principal Executive Officer) /s/ Richard H. Blank, Jr. Treasurer and Secretary May 26, 2000 - ---------------------------------------- (Principal Financial and (Richard H. Blank, Jr.) Accounting Officer) * Trustee May 26, 2000 - ---------------------------------------- (Edmund L. Benson, III) * Trustee May 26, 2000 - ---------------------------------------- (James Ermer) * Trustee May 26, 2000 - ---------------------------------------- (William H. Grigg) * Trustee May 26, 2000 - ---------------------------------------- (Thomas F. Keller) * Trustee May 26, 2000 - ---------------------------------------- (Carl E. Mundy, Jr.) * Trustee May 26, 2000 - ---------------------------------------- (Cornelius J. Pings) * Trustee May 26, 2000 - ---------------------------------------- (Charles B. Walker) * Trustee May 26, 2000 - ---------------------------------------- (Thomas S. Word) * Trustee May 26, 2000 - ---------------------------------------- (James B. Sommers) /s/ Richard H. Blank, Jr. - ---------------------------------------- Richard H. Blank, Jr. *Attorney-in-Fact
EXHIBIT INDEX ------------- Nations Reserves File No. 333-37006 Exhibit Number Description - -------------- ----------- EX.-99.14 Consent of Independent Accountants -- PricewaterhouseCoopers LLP EX-99.14 2 CONSENT OF INDEPENDENT ACCOUNTANTS CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in this Registration Statement on Form N-14 of our report dated May 19, 2000, relating to the financial statements and financial highlights which appear in the March 31, 2000 Annual Report to Shareholders of Nations International Growth Fund and Nations International Equity Fund which are also incorporated by reference into the Registration Statement. We also consent to the reference to us in the Registration Statement under the heading "Financial Statements." /s/ PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP New York, New York May 19, 2000 -----END PRIVACY-ENHANCED MESSAGE-----