EX-99.B17(E) 9 0009.txt SEMIANNUAL REPORT Exhibit 17(e) FEBRUARY 29, 2000 (UNAUDITED) Chase Vista Money Market Funds 100% U.S. TREASURY SEMI-ANNUAL REPORT SECURITIES MONEY MARKET FUND U.S. GOVERNMENT MONEY MARKET FUND TREASURY PLUS MONEY MARKET FUND FEDERAL MONEY MARKET FUND CASH MANAGEMENT FUND PRIME MONEY MARKET FUND TAX FREE MONEY MARKET FUND NEW YORK TAX FREE MONEY MARKET FUND CALIFORNIA TAX FREE MONEY MARKET FUND [CHASE THE RIGHT RELATIONSHIP IS EVERYTHING(RegTM}LOGO] SAMM-3-400
-------------------------------------------------------------------------------- Contents -------------------------------------------------------------------------------- Chairman's Letter 1 -------------------------------------------------------------------------------- Chase Vista 100% U.S. Treasury Securities Money Market Fund 2 Fund Commentary -------------------------------------------------------------------------------- Chase Vista U.S. Government Money Market Fund 3 Fund Commentary -------------------------------------------------------------------------------- Chase Vista Treasury Plus Money Market Fund 4 Fund Commentary -------------------------------------------------------------------------------- Chase Vista Federal Money Market Fund 5 Fund Commentary -------------------------------------------------------------------------------- Chase Vista Cash Management Fund 6 Fund Commentary -------------------------------------------------------------------------------- Chase Vista Prime Money Market Fund 7 Fund Commentary -------------------------------------------------------------------------------- Chase Vista Tax Free Money Market Fund 8 Fund Commentary -------------------------------------------------------------------------------- Chase Vista New York Tax Free Money Market Fund 9 Fund Commentary -------------------------------------------------------------------------------- Chase Vista California Tax Free Money Market Fund 10 Fund Commentary -------------------------------------------------------------------------------- Portfolios of Investments 11 -------------------------------------------------------------------------------- Financial Statements 59 -------------------------------------------------------------------------------- Notes to Financial Statements 71
Highlights o Short-term interest rates edged higher in an environment punctuated by strong economic data. o The Federal Reserve Board maintained its tightening monetary policy to keep the economy from growing too rapidly. o Inflation fears remained a concern among investors, but for the period, the rise in the cost of living was relatively benign. ----------------------|------------------------------------------- NOT FDIC INSURED | May lose value / No bank guarantee ----------------------|------------------------------------------- Chase Vista Funds are distributed by Vista Fund Distributors, Inc. -------------------------------------------------------------------------------- CHASE VISTA MONEY MARKET FUNDS -------------------------------------------------------------------------------- Chairman's Letter April 10, 2000 Dear Shareholder: We are pleased to present this semi-annual report on each of the Chase Vista Money Market Funds(SM). Inside, you will find current seven-day yields for each fund as of February 29, 2000, as well as listings of current holdings. Economy Remains Robust, While Inflation Stays Low The U.S. economy remained robust, as evidenced by the steady flow of stronger-than-expected economic data throughout the period. While inflation remained a threat, it proved to be relatively benign throughout much of the period. The persistent worries over inflation, however, led the Federal Reserve to maintain its tightening monetary policy. The Fed raised rates in November and again in February. The November rate hike was the third in 1999, effectively offsetting the three rate reductions made in 1998 during the wake of the global economic crisis. Looking ahead, we expect further rate increases by the Federal Reserve, given the current strength of the economy and recent comments made by Federal Reserve Board chairman Alan Greenspan. Late in the period, during a speech before a House committee, Mr. Greenspan warned of imbalances, such as the tightening labor market. We believe further Fed rate hikes will ultimately slow the economy and ease inflation concerns. On behalf of the management team and everyone at Chase Vista, I thank you for the confidence you've placed in us. We look forward to serving your investment needs in the period ahead. Sincerely yours, /s/ Fergus Reid Fergus Reid Chairman 1 -------------------------------------------------------------------------------- CHASE VISTA 100% U.S. TREASURY SECURITIES MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current income consistent with capital preservation -------------------------------------------------------------------------------- Primary investments Direct obligations of the U.S. Treasury including Treasury bills, bonds and notes -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier and Institutional Shares -------------------------------------------------------------------------------- Net assets $4.2 Billion -------------------------------------------------------------------------------- Average maturity 81 days -------------------------------------------------------------------------------- S&P Rating Not Rated -------------------------------------------------------------------------------- Moody's Rating Not Rated -------------------------------------------------------------------------------- NAIC Rating Not Rated --------------------------------------------------------------------------------
Maturity Schedule ----------------------------- 1-14 days 3.64% ----------------------------- 15-30 days 3.63% ----------------------------- 31-60 days 45.30% ----------------------------- 61-90 days 20.04% ----------------------------- 91-180 days 17.17% ----------------------------- 181-270 days 10.22% ----------------------------- 271+ days 0.00% -----------------------------
7-Day SEC Yield(1) ------------------------------------- Vista Shares 4.93% ------------------------------------- Premier Shares 5.02% ------------------------------------- Institutional Shares 5.27% -------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yields for Vista Shares, Premier Shares and Institutional Shares reflect the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yields for Vista Shares would have been 4.81%, for Premier Shares 4.98% and for Institutional Shares 5.18%. This voluntary waiver may be modified or terminated at any time, which would reduce the fund's performance. 2 -------------------------------------------------------------------------------- CHASE VISTA U.S. GOVERNMENT MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current income consistent with capital preservation -------------------------------------------------------------------------------- Primary investments Direct obligations of the U.S. Treasury and its Agencies including Treasury bills, bonds, notes and repurchase agreements -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier and Institutional Shares -------------------------------------------------------------------------------- Net assets $6.9 Billion -------------------------------------------------------------------------------- Average maturity 41 days -------------------------------------------------------------------------------- S&P Rating* AAA -------------------------------------------------------------------------------- Moody's Rating* Aaa -------------------------------------------------------------------------------- NAIC Rating* Class 1 --------------------------------------------------------------------------------
* This rating is historical and is based upon the Fund's credit quality, market price exposure and management. It signifies that the Fund's safety is excellent and that it has superior capacity to maintain a $1 Net Asset Value per share. The National Association of Insurance Commissioners' (NAIC's) Class 1 status indicates that the Fund meets certain pricing and quality guidelines. Maturity Schedule ----------------------------- 1-14 days 57.71% ----------------------------- 15-30 days 16.52% ----------------------------- 31-60 days 3.39% ----------------------------- 61-90 days 7.81% ----------------------------- 91-180 days 9.33% ----------------------------- 181-270 days 1.51% ----------------------------- 271+ days 3.73% -----------------------------
7-Day SEC Yield(1) ------------------------------------- Vista Shares 5.23% ------------------------------------- Premier Shares 5.37% ------------------------------------- Institutional Shares 5.56% -------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yields for Vista Shares, Premier Shares and Institutional Shares reflect the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yields would have been 5.13% for Vista Shares, 5.24% for Premier Shares and 5.49% for Institutional Shares. This voluntary waiver may be modified or terminated at any time, which would reduce the fund's performance. 3 -------------------------------------------------------------------------------- CHASE VISTA TREASURY PLUS MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current income consistent with capital preservation -------------------------------------------------------------------------------- Primary investments Direct obligations of the U.S. Treasury including Treasury bills, bonds and notes as well as repurchase agreements which are fully collateralized by obligations issued or guaranteed by the U.S. Treasury -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier and Institutional Shares -------------------------------------------------------------------------------- Net assets $3.4 Billion -------------------------------------------------------------------------------- Average maturity 20 days -------------------------------------------------------------------------------- S&P Rating* AAA -------------------------------------------------------------------------------- Moody's Rating* Aaa -------------------------------------------------------------------------------- NAIC Rating* Exempt --------------------------------------------------------------------------------
* This rating is historical and is based upon the Fund's credit quality, market price exposure and management. It signifies that the Fund's safety is excellent and that it has superior capacity to maintain a $1 Net Asset Value per share. The National Association of Insurance Commissioners' (NAIC's) "exempt" status indicates that the Fund meets certain pricing and quality guidelines. Maturity Schedule ----------------------------- 1-14 days 72.04% ----------------------------- 15-30 days 10.19% ----------------------------- 31-60 days 11.44% ----------------------------- 61-90 days 6.33% ----------------------------- 91-180 days 0.00% ----------------------------- 181-270 days 0.00% ----------------------------- 271+ days 0.00% -----------------------------
7-Day SEC Yield(1) ------------------------------------- Vista Shares 5.01% ------------------------------------- Premier Shares 5.15% ------------------------------------- Institutional Shares 5.35% -------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yields for Vista Shares, Premier Shares and Institutional Shares reflect the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yields would have been 4.88% for Vista Shares, 5.08% for Premier Shares and 5.24% for Institutional Shares. This voluntary waiver may be modified or terminated at any time, which would reduce the fund's performance. 4 -------------------------------------------------------------------------------- CHASE VISTA FEDERAL MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current income consistent with capital preservation -------------------------------------------------------------------------------- Primary investments Direct obligations of the U.S. Treasury including Treasury bills, bonds and notes as well as obligations issued or guaranteed by the U.S. Treasury and its Agencies -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier and Institutional Shares -------------------------------------------------------------------------------- Net assets $1.1 Billion -------------------------------------------------------------------------------- Average maturity 76 days -------------------------------------------------------------------------------- S&P Rating Not Rated -------------------------------------------------------------------------------- Moody's Rating Not Rated -------------------------------------------------------------------------------- NAIC Rating Not Rated --------------------------------------------------------------------------------
Maturity Schedule ----------------------------- 1-14 days 41.52% ----------------------------- 15-30 days 11.71% ----------------------------- 31-60 days 11.99% ----------------------------- 61-90 days 10.19% ----------------------------- 91-180 days 9.10% ----------------------------- 181-270 days 4.38% ----------------------------- 271+ days 11.11% -----------------------------
7-Day SEC Yield(1) ------------------------------------- Vista Shares 5.03% ------------------------------------- Premier Shares 5.23% ------------------------------------- Institutional Shares 5.47% -------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yields for Vista Shares and Institutional Shares reflect the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yields would have been 4.98% for Vista Shares and 5.40% for Institutional Shares. This voluntary waiver may be modified or terminated at any time, which would reduce the fund's performance. 5 -------------------------------------------------------------------------------- CHASE VISTA CASH MANAGEMENT FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current income consistent with capital preservation -------------------------------------------------------------------------------- Primary investments High quality, short-term, U.S. dollar- denominated money market instruments -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier and Institutional Shares -------------------------------------------------------------------------------- Net assets $9.3 Billion -------------------------------------------------------------------------------- Average maturity 51 days -------------------------------------------------------------------------------- S&P Rating Not Rated -------------------------------------------------------------------------------- Moody's Rating Not Rated -------------------------------------------------------------------------------- NAIC Rating Not Rated --------------------------------------------------------------------------------
Maturity Schedule ----------------------------- 1-14 days 34.92% ----------------------------- 15-30 days 25.97% ----------------------------- 31-60 days 12.98% ----------------------------- 61-90 days 12.24% ----------------------------- 91-180 days 6.13% ----------------------------- 181-270 days 2.72% ----------------------------- 271+ days 5.04% -----------------------------
7-Day SEC Yield(1) ------------------------------------- Vista Shares 5.34% ------------------------------------- Premier Shares 5.48% ------------------------------------- Institutional Shares 5.67% -------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yields for Vista Shares, Premier Shares and Institutional Shares reflect the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yields would have been 5.32% for Vista Shares, 5.43% for Premier Shares and 5.60% for Institutional Shares. This voluntary waiver may be modified or terminated at any time, which would reduce the fund's performance. 6 -------------------------------------------------------------------------------- CHASE VISTA PRIME MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current income consistent with capital preservation -------------------------------------------------------------------------------- Primary investments High quality, short-term, U.S. dollar- denominated money market instruments -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier, Institutional, B and C Shares -------------------------------------------------------------------------------- Net assets $9.5 Billion -------------------------------------------------------------------------------- Average maturity 54 days -------------------------------------------------------------------------------- S&P Rating* AAA -------------------------------------------------------------------------------- Moody's Rating* Aaa -------------------------------------------------------------------------------- NAIC Rating* Class 1 --------------------------------------------------------------------------------
* This rating is historical and is based upon the Fund's credit quality, market price exposure and management. It signifies that the Fund's safety is excellent and that it has superior capacity to maintain a $1 Net Asset Value per share. The National Association of Insurance Commissioners' (NAIC's) Class 1 status indicates that the Fund meets certain pricing and quality guidelines. Maturity Schedule ----------------------------- 1-14 days 39.03% ----------------------------- 15-30 days 28.84% ----------------------------- 31-60 days 7.70% ----------------------------- 61-90 days 8.38% ----------------------------- 91-180 days 5.05% ----------------------------- 181-270 days 4.84% ----------------------------- 271+ days 6.16% -----------------------------
7-Day SEC Yield(1) ------------------------------------- B Shares 4.73% ------------------------------------- C Shares 4.70% ------------------------------------- Vista Shares 5.37% ------------------------------------- Premier Shares 5.53% ------------------------------------- Institutional Shares 5.72% -------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yields for B Shares, Vista Shares, Premier Shares and Institutional Shares reflect the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yields would have been 4.72% for B Shares, 5.35% for Vista Shares, 5.49% for Premier Shares and 5.65% for Institutional Shares. This voluntary waiver may be modified or terminated at any time, which would reduce the fund's performance. 7 -------------------------------------------------------------------------------- CHASE VISTA TAX FREE MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current tax free income consistent with capital preservation* -------------------------------------------------------------------------------- Primary investments Short-term municipal obligations -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista, Premier and Institutional Shares -------------------------------------------------------------------------------- Net assets $1.7 Billion -------------------------------------------------------------------------------- Average maturity 39 days -------------------------------------------------------------------------------- S&P Rating** AAA -------------------------------------------------------------------------------- Moody's Rating Not rated -------------------------------------------------------------------------------- NAIC Rating Not rated --------------------------------------------------------------------------------
** This rating is historical and is based upon the Fund's credit quality, market price exposure and management. It signifies that the Fund's safety is excellent and that it has superior capacity to maintain a $1 Net Asset Value per share. Maturity Schedule ----------------------------- 1-7 days 70.55% ----------------------------- 8-30 days 1.16% ----------------------------- 31-90 days 6.66% ----------------------------- 91-180 days 16.23% ----------------------------- 181-270 days 4.21% ----------------------------- 271+ days 1.19% -----------------------------
Yields
Taxable 7-Day Equivalent SEC Yield(1) Yield(2) ---------------------------------------------------- Vista Shares 3.30% 5.46% ---------------------------------------------------- Premier Shares 3.34% 5.53% ---------------------------------------------------- Institutional Shares 3.63% 6.01% ----------------------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yield for Vista Shares, Premier Shares and Institutional Shares reflects the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yield for Vista Shares would have been 3.14%, 3.30% for Premier Shares and 3.50% for Institutional Shares. This voluntary waiver may be modified or terminated at any time, which would reduce performance. (2) Taxable equivalent yields are calculated based on the SEC yield divided by 1 minus the effective tax rate. The effective federal tax rate used for this illustration is 39.6%. * A portion of the Fund's income may be subject to the Alternative Minimum Tax (AMT), and some investors may be subject to certain state and local taxes. 8 -------------------------------------------------------------------------------- CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current tax free income consistent with capital preservation* -------------------------------------------------------------------------------- Primary investments New York short-term municipal obligations -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share classes offered Vista Shares -------------------------------------------------------------------------------- Net assets $1.7 Billion -------------------------------------------------------------------------------- Average maturity 40 days -------------------------------------------------------------------------------- S&P Rating Not rated -------------------------------------------------------------------------------- Moody's Rating Not rated -------------------------------------------------------------------------------- NAIC Rating Not rated --------------------------------------------------------------------------------
Maturity Schedule ----------------------------- 1-7 days 70.57% ----------------------------- 8-30 days 1.49% ----------------------------- 31-90 days 5.71% ----------------------------- 91-180 days 18.72% ----------------------------- 181-270 days 2.03% ----------------------------- 271+ days 1.48% -----------------------------
Yields
Taxable 7-Day Equivalent SEC Yield(1) Yield(2) ---------------------------------------------------- Vista Shares 3.18% 5.89% ----------------------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. 1 The yield for Vista Shares reflects the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yield would have been 3.08%. This voluntary waiver may be modified or terminated at any time, which would reduce performance. 2 Taxable Equivalent Yields are calculated based on the SEC yield divided by 1 minus the effective tax rate. The effective combined federal, state and local tax rate used for this illustration is 46.05%. * A portion of the Fund's income may be subject to the Alternative Minimum Tax (AMT), and some investors may be subject to certain state and local taxes. 9 -------------------------------------------------------------------------------- CHASE VISTA CALIFORNIA TAX FREE MONEY MARKET FUND As of February 29, 2000 (Unaudited) -------------------------------------------------------------------------------- Fund Facts -------------------------------------------------------------------------------- Objective High current tax free income consistent with capital preservation* -------------------------------------------------------------------------------- Primary investments California short-term municipal obligations -------------------------------------------------------------------------------- Suggested investment time frame Short-term -------------------------------------------------------------------------------- Share Classes Offered Vista Shares -------------------------------------------------------------------------------- Net assets $67.2 Million -------------------------------------------------------------------------------- Average maturity 41 days -------------------------------------------------------------------------------- S&P Rating Not rated -------------------------------------------------------------------------------- Moody's Rating Not rated -------------------------------------------------------------------------------- NAIC Rating Not rated --------------------------------------------------------------------------------
Maturity Schedule ----------------------------- 1-7 days 76.08% ----------------------------- 8-30 days 0.00% ----------------------------- 31-90 days 4.21% ----------------------------- 91-180 days 11.14% ----------------------------- 181-270 days 6.59% ----------------------------- 271+ days 1.98% -----------------------------
Yields
Taxable 7-Day Equivalent SEC Yield(1) Yield(2) ------------------------------------------------- Vista Share s 2.45% 4.47% -------------------------------------------------
Past performance is not a guarantee of future results. Yields will fluctuate. An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund. (1) The yield for Vista Shares reflects the voluntary waiver of certain expenses and the assumption of certain expenses otherwise payable by the Fund. Without waivers, the yield would have been 2.08%. This voluntary waiver may be modified or terminated at any time, which would reduce performance. (2) Taxable Equivalent Yields are calculated based on the SEC yield divided by 1 minus the effective tax rate. The effective combined federal, state and local tax rate used for this illustration is 45.22%. * A portion of the Fund's income may be subject to the Alternative Minimum Tax (AMT), and some investors may be subject to certain state and local taxes. 10 -------------------------------------------------------------------------------- CHASE VISTA 100% TREASURY SECURITIES MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------- Money Market Instruments -- 99.1% ------------------------------------------------------------------- U.S. Treasury Securities -- 99.1% --------------------------------- U.S. Treasury Bills, $ 50,000 5.00%, 03/02/00 $ 49,993 100,000 5.03%, 03/09/00 99,888 150,000 5.26%, 03/30/00 149,367 125,000 5.49%, 04/13/00 124,186 200,000 5.64%, 05/11/00 197,799 100,000 5.70%, 04/20/00 99,215 100,000 5.71%, 06/01/00 98,561 120,300 5.71%, 07/06/00 117,923 740,000 5.76%, 04/27/00 733,326 U.S. Treasury Notes, 300,000 4.00%, 10/31/00 295,924 572,186 5.50%, 03/31/00 572,238 476,050 5.63%, 04/30/00 476,295 125,000 5.75%, 11/15/00 124,646 300,000 6.13%, 07/31/00 300,347 189,000 6.25%, 05/31/00 189,327 150,000 6.38%, 05/15/00 150,322 334,000 6.88%, 03/31/00 334,382 ------------------------------------------------------------------- Total Investments -- 99.1% $4,113,739 (Cost $4,113,739)* -------------------------------------------------------------------
See notes to financial statements. 11 -------------------------------------------------------------------------------- CHASE VISTA U.S. GOVERNMENT MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value --------------------------------------------------------------------------- Money Market Instruments -- 108.0% --------------------------------------------------------------------------- U.S. Treasury Security -- 0.9% ------------------------------ $ 60,000 U.S. Treasury Note, 6.13%, 07/31/00 $ 60,031 (Cost $60,031) U.S. Government Agency Securities -- 102.7% ------------------------------------------- Federal Farm Credit Bank -- 6.4% Federal Farm Credit Bank, 75,000 5.43%, 06/21/00 75,000 100,000 5.62%, 03/01/00 100,000 10,000 5.94%, 06/01/00 10,000 43,059 DN, 5.72%, 03/01/00 43,059 125,000 FRN, 5.81%, 06/22/00 124,985 90,000 FRN, 6.17%, 03/01/01 90,000 --------- 443,044 Federal Home Loan Bank -- 42.1% Federal Home Loan Bank, 150,000 5.09%, 03/03/00 150,000 138,000 5.15%, 05/10/00 138,000 84,000 5.21%, 05/24/00 84,000 125,000 5.22%, 03/17/00 125,000 100,000 5.25%, 03/30/00 100,000 75,000 5.51%, 06/22/00 75,000 75,000 5.91%, 08/23/00 75,000 111,600 6.04%, 10/25/00 111,600 100,000 6.55%, 02/15/01 100,000 100,000 6.70%, 03/01/01 100,000 75,000 6.75%, 03/01/01 75,000 125,000 DN, 5.61%, 03/29/00 124,470 104,580 DN, 5.64%, 03/17/00 104,318 15,859 DN, 5.72%, 03/01/00 15,859 100,000 FRN, 5.80%, 04/05/00 99,995 200,000 FRN, 5.80%, 05/05/00 199,983 500,000 FRN, 5.80%, 05/17/00 499,947 250,000 FRN, 5.84%, 10/10/00 249,869 205,500 FRN, 5.87%, 05/12/00 205,466 200,000 FRN, 5.93%, 03/01/00 200,000 65,000 FRN, 6.23%, 03/06/01 64,968 --------- 2,898,475 Federal Home Loan Mortgage Corp. -- 1.3% 89,880 Federal Home Loan Mortgage Corp., DN, 5.70%, 03/01/00 89,880 Federal National Mortgage Association -- 47.1% Federal National Mortgage Association, 75,000 5.06%, 03/15/00 74,999 150,000 DN, 5.66%, 05/03/00 148,556 100,000 DN, 5.68%, 03/15/00 99,785 250,000 DN, 5.82%, 03/16/00 249,401 100,000 DN, 5.86%, 06/15/00 98,322 200,000 DN, 6.09%, 08/10/00 194,686 115,000 FRN, 5.69%, 03/24/00 114,995
See notes to financial statements. 12 CHASE VISTA U.S. GOVERNMENT MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Money Market Instruments -- Continued ---------------------------------------------------------------------------------- Federal National Mortgage Association -- Continued $ 250,000 FRN, 5.69%, 12/08/00 $ 249,811 225,000 FRN, 5.70%, 03/15/00 224,995 250,000 FRN, 5.85%, 03/01/01 249,800 340,000 FRN, 5.87%, 07/17/00 339,938 350,000 FRN, 5.87%, 08/07/00 349,924 200,000 FRN, 5.87%, 09/05/00 199,960 150,000 FRN, 5.90%, 11/06/00 149,908 500,000 FRN, 5.94%, 09/18/00 499,945 ---------- 3,245,025 Student Loan Marketing Association -- 5.8% Student Loan Marketing Association, 100,000 5.30%, 06/16/00 100,000 100,000 FRN, 5.85%, 08/18/00 99,977 200,000 FRN, 6.27%, 03/05/01 199,901 --------------------------------------------------------------------------------- 399,878 --------------------------------------------------------------------------------- Total U.S. Government Agency Securities 7,076,302 (Cost $7,076,302) ----------------------------------------------------------------- Repurchase Agreement -- 4.4% ---------------------------- 300,000 Merrill Lynch & Co., Inc., 5.79%, due 03/01/00 (Dated 02/22/00, Proceeds $300,386, Secured by U.S. Government Agency Obligations, $323,088, 3.50% through 7.50%, due 11/25/07 through 01/25/30; Market Value $306,004) 300,000 (Cost $300,000) ----------------------------------------------------------------- Total Investments -- 108.0% $7,436,333 (Cost $7,436,333)* -----------------------------------------------------------------
See notes to financial statements. 13 -------------------------------------------------------------------------------- CHASE VISTA TREASURY PLUS MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------------ Money Market Instruments -- 99.7% ------------------------------------------------------------------------------------------ U.S. Treasury Securities -- 27.9% --------------------------------- U.S. Treasury Bills, $ 160,000 5.65%, 05/04/00 $ 158,410 75,000 5.67%, 05/18/00 74,089 100,000 5.74%, 04/27/00 99,099 U.S. Treasury Notes, 160,000 5.63%, 04/30/00 159,902 112,000 6.13%, 07/31/00 112,070 105,000 6.25%, 05/31/00 105,198 250,000 6.88%, 03/31/00 250,404 -------------------------------------------------------------------------- Total U.S. Treasury Securities 959,172 (Cost $959,172) -------------------------------------------------------------------------- Repurchase Agreements -- 71.8% ------------------------------ 300,000 Deutsche Bank Securities, Tri Party, 5.42%, due 03/01/00 (Dated 02/29/00, Proceeds $300,045, Secured by USTR and U.S. Government Agency Obligations, $282,954, 3.63% through 9.38%, due 04/13/00 through 2/15/23; Market Value $305,644) 300,000 500,000 Deutsche Bank Securities, Tri Party, 5.62%, due 03/01/00 (Dated 02/29/00, Proceeds $500,078, Secured by USTR and U.S. Government Agency Obligations, $471,589, 3.63% through 9.38%, due 04/13/00 through 02/15/23; Market Value $509,407) 500,000 400,000 Goldman Sachs & Co., Tri Party, 5.55%, due 03/01/00 (Dated 02/29/00, Proceeds $400,062, Secured by USTR, $368,236, 5.10% through 14.00%, due 10/12/00 through 02/15/29; Market Value $408,000) 400,000 420,190 Goldman Sachs & Co., Tri Party, 5.70%, due 03/01/00 (Dated 02/29,00, Proceeds $420,257, Secured by USTR, $386,822, 5.10% through 14.00%, due 10/12/00 through 02/15/29; Market Value $428,594) 420,190 100,875 Merrill Lynch & Co., Inc., Tri Party, 5.48%, due 03/01/00 (Dated 02/29/00. Proceeds $100,890. Secured by USTR, $100,000, 4.50%, due 09/30/00; Market Value $101,037) 100,875 500,000 Merrill Lynch & Co., Inc., 5.60%, due 03/01/00 (Dated 02/29/00, Proceeds $500,078, Secured by USTR, $445,144, 5.25% through 14.00%, due 04/15/00 through 02/15/29; Market Value $509,269) 500,000 250,000 Morgan Stanley Dean Witter & Co., Tri Party, 5.75%, due 03/01/00 (Dated 02/29/00, Proceeds $250,040, Secured by U.S. Government Agency Obligations, $448,014, 5.10% through 10.00%, due 03/15/01 through 02/15/30; Market Value $257,953) 250,000 -------------------------------------------------------------------------- Total Repurchase Agreements 2,471,065 (Cost $2,471,065) -------------------------------------------------------------------------- Total Investments -- 99.7% $3,430,237 (Cost $3,430,237)* --------------------------------------------------------------------------
See notes to financial statements. 14 -------------------------------------------------------------------------------- CHASE VISTA FEDERAL MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------- Money Market Instruments -- 103.2% ------------------------------------------------------------------------- U.S. Government Agency Securities -- 98.8% ------------------------------------------ Federal Farm Credit Bank -- 29.8% Federal Farm Credit Bank, $ 25,000 5.43%, 06/21/00 $ 25,000 50,000 DN, 4.95%, 04/25/00 49,639 25,000 DN, 5.56%, 05/26/00 24,684 21,941 DN, 5.72%, 03/01/00 21,941 10,000 DN, 5.91%, 10/26/00 9,630 20,000 FRN, 5.70%, 03/10/00 20,000 100,000 FRN, 5.70%, 03/23/00 99,998 50,000 FRN, 5.80%, 04/27/00 49,996 40,000 FRN, 5.81%, 05/25/00 39,995 ---------- 340,883 Federal Home Loan Bank -- 69.0% Federal Home Loan Bank, 25,000 5.22%, 03/17/00 25,000 25,000 6.75%, 03/01/01 25,000 40,000 DN, 4.94%, 03/31/00 39,843 21,061 DN, 5.04%, 03/03/00 21,055 10,000 DN, 5.48%, 07/07/00 9,815 25,000 DN, 5.52%, 06/16/00 24,611 22,500 DN, 5.56%, 07/21/00 22,032 40,000 DN, 5.66%, 03/08/00 39,956 50,000 DN, 5.66%, 05/26/00 49,343 25,000 DN, 5.68%, 07/28/00 24,443 11,284 DN, 5.70%, 03/15/00 11,260 50,000 DN, 5.72%, 03/01/00 50,000 20,000 DN, 5.89%, 10/27/00 19,259 8,000 DN, 5.91%, 10/06/00 7,728 15,000 DN, 5.93%, 11/24/00 14,375 20,000 DN, 6.03%, 12/08/00 19,109 25,000 DN, 6.13%, 12/22/00 23,812 15,000 DN, 6.32%, 01/08/01 14,224 25,000 DN, 6.48%, 02/20/01 23,494 25,000 DN, 6.50%, 02/01/01 23,572 15,500 DN, 6.79%, 06/13/00 15,495 50,000 FRN, 5.73%, 07/06/00 49,991 50,000 FRN, 5.84%, 10/10/00 49,973 65,000 FRN, 5.86%, 04/14/00 64,996 44,500 FRN, 5.87%, 05/12/00 44,493 75,000 FRN, 5.91%, 09/22/00 74,989 ---------- 787,868 Student Loan Marketing Association -- 4.4% 50,000 Student Loan Marketing Association, FRN, 5.80%, 04/05/00 49,998 -------------------------------------------------------- Total Investments -- 103.2% $1,178,749 (Cost $1,178,749)* --------------------------------------------------------
See notes to financial statements. 15 -------------------------------------------------------------------------------- CHASE VISTA CASH MANAGEMENT FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ---------------------------------------------------------------------------------- Money Market Instruments -- 102.1% ---------------------------------------------------------------------------------- U.S. Government Agency Securities -- 2.4% ----------------------------------------- Federal Home Loan Bank, $ 40,000 5.06%, 03/09/00 $40,000 34,000 DN, 5.66%, 05/26/00 33,553 35,000 DN, 5.93%, 11/24/00 33,541 93,900 DN, 5.93%, 12/01/00 89,884 25,000 DN, 6.50%, 02/01/01 23,572 ---------------------------------------------------------------- Total U.S. Government Agency Securities 220,550 (Cost $220,550) ---------------------------------------------------------------- State and Municipal Obligations -- 1.6% --------------------------------------- California -- 1.1% 61,200 California Housing Finance Agency, Home Mortgage, Ser. M, FRDO, +, 5.83%, 03/06/00 61,200 20,000 California Pollution Control Financing Authority, Environmental Improvement, Shell Oil Co., Project B, FRDO, 5.89%, 03/01/00 20,000 22,000 Sacramento County, California, FRDO, 5.85%, 03/06/00 22,000 ------- 103,200 Missouri -- 0.2% 16,200 SSM Healthcare, Missouri Health Facilities, Ser. E, FRDO, +, 5.95%, 03/07/00 16,200 Texas -- 0.3% 27,500 Texas State, Veterans Housing, Ser. A-2, FRDO, 5.85%, 03/06/00 27,500 ---------------------------------------------------------------- Total State and Municipal Obligations 146,900 (Cost $146,900) ---------------------------------------------------------------- Corporate Notes & Bonds -- 56.6% -------------------------------- Asset Backed Securities -- 8.9% Asset Backed Capital LTD (Channel Islands), 50,000 MTN, #, 5.28%, 06/01/00 50,000 50,000 MTN, FRN, #, 6.02%, 05/15/00 50,000 50,000 MTN, FRN, #, 6.04%, 04/24/00 50,000 Beta Finance Corp., Inc., (Channel Islands), 23,000 MTN, #, 5.20%, 03/01/00 23,000 30,000 MTN, #, 5.22%, 03/06/00 30,000 45,000 MTN, #, 5.27%, 05/15/00 45,000 CC USA, Inc., (Centauri Corp.), 50,000 MTN, #, 5.18%, 04/25/00 50,000 24,000 MTN, #, 5.68%, 06/15/00 24,000 Certificates Linked to Asset Backed Certificates, 50,000 FRN, #, 5.90%, 04/18/00 50,000 100,000 Ser. 1998-4, FRN, #, 5.88%, 08/18/00 100,000 Liberty Lighthouse U.S. Capital Co., 120,000 FRN, #, 6.07%, 03/05/01 120,000 65,000 FRN, #, 6.21%, 11/06/00 65,002 100,000 Sigma Finance Corp., (Channel Islands), FRN, 6.29%, 04/25/00 100,000
See notes to financial statements. 16 CHASE VISTA CASH MANAGEMENT FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ----------------------------------------------------------------------------------- Money Market Instruments -- Continued ----------------------------------------------------------------------------------- Asset Backed Securities -- Continued $ 75,000 Structured Products Asset Return Certificates, Ser. 1998-1, FRN, #, 6.16%, 11/27/00 $ 75,000 --------- 832,002 Automotive -- 10.8% 66,000 Chrysler Financial Co., LLC, MTN, 5.85%, 05/15/00 66,098 200,000 Daimler Chrysler North America Holding Corp., MTN, FRN, 5.98%, 02/22/01 199,851 Ford Motor Credit Co., 75,000 MTN, FRN, 6.17%, 10/02/00 74,957 27,000 MTN, FRN, 6.51%, 09/25/00 27,041 13,980 Ford Motor Holdings Co., 9.25%, 03/01/00 13,980 250,000 General Motors Acceptance Corp., MTN, FRN, 6.03%, 12/14/00 249,828 PACCAR Financial Corp., 3,000 MTN, 6.23%, 03/15/00 3,001 25,000 MTN, FRN, 5.99%, 02/14/01 24,986 Toyota Motor Credit Corp., 46,000 MTN, 5.76%, 07/06/00 46,000 134,000 MTN, FRN, 6.05%, 08/18/00 134,000 140,000 MTN, FRN, 6.06%, 10/12/00 140,000 25,000 VW Credit Inc., MTN, #, 5.67%, 07/13/00 24,992 --------- 1,004,734 Banking -- 7.7% American Express Centurion Bank, 50,000 5.89%, 03/29/00 50,000 100,000 FRN, 5.84%, 02/28/01 100,000 50,000 FRN, 5.97%, 06/08/00 49,982 100,000 FRN, 6.10%, 04/20/00 100,000 43,000 FRN, 6.10%, 05/16/00 43,000 55,000 Bank One Corp., FRN, 6.11%, 11/17/00 54,983 5,000 BankAmerica Corp., 9.70%, 08/01/00 5,073 75,000 Credit Suisse First Boston International (Guernsey), (Switzerland), FRN, #, 6.08%, 10/02/00 75,019 50,000 FCC National Bank, FRN, 5.95%, 05/26/00 49,994 42,000 U.S. Central Credit Union, MTN, 5.08%, 04/19/00 41,997 Wells Fargo Bank, NA, 100,000 MTN, 5.31%, 03/31/00 99,996 50,000 MTN, 5.31%, 04/03/00 49,997 --------- 720,041 Diversified -- 0.5% General Electric Capital Corp., 20,000 6.66%, 05/01/00 20,013 23,500 MTN, 5.93%, 05/01/00 23,499 --------- 43,512 Financial Services -- 14.7% 8,800 Associates Corp. of North America, 9.13%, 04/01/00 8,827 200,000 Bear Stearns Co., Inc., MTN, FRN, 5.94%, 02/23/01 200,001 CIT Group, Inc., 80,000 MTN, FRN, 5.80%, 09/15/00 79,970 30,000 MTN, FRN, 6.42%, 11/13/00 30,059 10,000 Commercial Credit Co., 6.13%, 03/01/00 10,000
See notes to financial statements. 17 CHASE VISTA CASH MANAGEMENT FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ------------------------------------------------------------------------------------ Money Market Instruments -- Continued ------------------------------------------------------------------------------------ Financial Services -- Continued Goldman Sachs Group, Inc., $ 148,000 FRN, #, 6.12%, 05/12/00 $ 148,001 75,000 MTN, FRN, 6.06%, 08/07/00 75,000 30,000 MTN, FRN, 6.10%, 09/07/00 30,000 50,000 HomeSide Lending, Inc., FRN, #, 6.29%, 08/16/00 50,003 International Lease Finance Corp., 22,150 6.63%, 08/15/00 22,206 38,000 MTN, 5.35%, 03/06/00 38,000 Merrill Lynch & Co., Inc., 94,000 MTN, 5.56%, 06/30/00 94,000 200,000 MTN, FRN, 5.88%, 03/06/01 199,981 50,000 MTN, FRN, 6.15%, 08/04/00 50,008 20,000 MTN, FRN, 6.23%, 09/25/00 19,997 12,000 MTN, FRN, 6.39%, 08/03/00 12,014 Morgan Stanley Dean Witter & Co., 110,000 FRN, 5.96%, 03/07/00 110,000 50,000 MTN, FRN, 6.16%, 01/22/01 50,067 25,000 MTN, FRN, 6.22%, 03/15/01 25,000 25,000 Sanwa Business Credit Corp., FRN, #, 6.16%, 03/13/00 25,001 92,000 U.S. Central Credit Union, MTN, 5.14%, 04/24/00 91,999 --------- 1,370,134 Food/Beverage Products -- 0.2% 15,000 Sara Lee Corp., MTN, 6.50%, 05/16/00 15,013 Insurance -- 5.4% 50,000 AIG Funding Inc., FRN, 6.03%, 10/02/00 50,000 100,000 G E Financial Assurance, FRN, 5.57%, 03/01/00 100,000 100,000 Jackson National Life Insurance Co., FRN, 6.12%, 01/18/01 100,000 50,000 MetLife Funding Inc., FRN, #, 5.49%, 06/01/00 50,000 30,000 Prudential Funding Corp., FRN, 6.13%, 12/21/00 29,983 75,000 Security Life of Denver Insurance Co., FRN, 5.57%, 06/24/00 75,000 50,000 Travelers Insurance Co., FRN, 5.91%, 04/24/00 50,000 50,000 United of Omaha Life Insurance Company, FRN, 5.95%, 05/17/02 50,000 --------- 504,983 Machinery & Engineering Equipment -- 1.9% Caterpillar Financial Services Corp., 30,000 FRN, 5.47%, 05/18/00 30,003 48,000 MTN, 5.72%, 07/07/00 48,000 5,000 MTN, 5.80%, 03/15/00 5,001 75,000 MTN, FRN, 6.03%, 07/07/00 75,000 14,500 MTN, FRN, 6.06%, 03/10/00 14,501 --------- 172,505 Office/Business Equipment -- 0.6% 53,000 Xerox Credit Corp., MTN, 5.83%, 05/08/00 52,983 Real Estate -- 0.9% 84,000 Main Place Real Estate Investment Corp., FRN, 6.21%, 10/25/00 84,034 Retailing -- 0.1% 5,360 Wal-Mart Stores Inc., 5.85%, 06/01/00 5,363
See notes to financial statements. 18 CHASE VISTA CASH MANAGEMENT FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ---------------------------------------------------------------------------------------- Money Market Instruments -- Continued ---------------------------------------------------------------------------------------- Telecommunications -- 2.2% $ 30,000 AT&T Capital Corp., MTN, FRN, 6.73%, 12/01/00 $ 30,143 175,000 AT&T Corp., MTN, FRN, #, 5.99%, 07/13/00 174,943 --------- 205,086 Utilities -- 2.7% 62,000 Baltimore Gas & Electric Co., FRDO, 6.11%, 03/01/00 62,002 190,000 National Rural Utilities Co., Ser. C., MTN, FRN,, 6.06%, 09/08/00 190,000 --------- 252,002 ------------------------------------------------------------------------ Total Corporate Notes & Bonds 5,262,392 (Cost $5,262,392) ------------------------------------------------------------------------ Commercial Paper -- 16.6% ------------------------- Asset Backed Securities -- 12.0% 50,000 Compass Securitization LLC, 5.84%, 03/24/00 49,814 150,189 Concord Minutemen Capital Co., LLC, 5.84%, 03/17/00 149,800 100,000 Falcon Asset Securitization Corp., 5.86%, 03/27/00 99,580 International Securitization Corp., 65,760 5.84%, 03/16/00 65,601 60,000 5.85%, 03/20/00 59,816 125,000 Intrepid Funding Master Trust, Ser. 1999-A, 6.28%, 09/05/00 121,031 Lexington Parker Capital Corp., 100,000 5.84%, 03/14/00 99,790 61,961 5.85%, 03/13/00 61,841 Montauk Funding Corp., 41,000 5.83%, 03/15/00 40,908 55,250 5.88%, 03/01/00 55,250 Moriarty LLC, 60,000 6.05%, 03/08/00 59,930 40,000 6.27%, 08/17/00 38,858 70,499 Parthenon Receivables Funding LLC, 5.84%, 03/20/00 70,283 25,000 Sigma Finance Corp., (Channel Islands), #, 6.28%, 08/16/00 24,288 56,662 Thames Asset Global Securitization (TAGS), #, 5.85%, 03/27/00 56,424 55,000 Windmill Funding Corp., 5.83%, 03/13/00 54,894 --------- 1,108,108 Banking -- 1.7% 40,000 Banca Serfin SA, (United Kingdom), 6.05%, 03/07/00 39,960 100,000 Banco Rio De La Plata SA, (Argentina), 6.04%, 03/09/00 99,868 20,000 Credit Suisse First Boston, (Switzerland), 5.94%, 03/09/00 19,974 --------- 159,802 Consumer Products -- 0.5% Florens Container Inc., 25,000 6.04%, 03/07/00 24,975 25,000 6.04%, 03/08/00 24,971 --------- 49,946 Diversified -- 0.5% 50,000 General Electric Capital Services Inc., 6.03%, 03/15/00 49,886
See notes to financial statements. 19 CHASE VISTA CASH MANAGEMENT FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ---------------------------------------------------------------------------------- Money Market Instruments -- Continued ---------------------------------------------------------------------------------- Financial Services -- 0.5% $ 50,000 Associates First Capital Corp., 5.88%, 03/01/00 $ 50,000 Food/Beverage Products -- 1.4% Archer Daniels Midland Co., 77,350 5.90%, 03/24/00 77,067 50,000 5.96%, 03/22/00 49,833 --------- 126,900 ------------------------------------------------------------------ Total Commercial Paper 1,544,642 (Cost $1,544,642) ------------------------------------------------------------------ Certificates of Deposit -- 21.3% -------------------------------- Bank Austria AG (Austria), (Yankee), 50,000 6.55%, 02/01/01 49,978 50,000 6.71%, 02/05/01 49,978 110,000 Banque Nationale De Paris, (France), (Yankee), 5.98%, 05/01/00 110,000 190,000 Bayerische Hypo- und Vereinsbank AG, Floating Rate, (Germany), (Yankee), 5.80%, 02/28/01 189,908 130,000 Bayerische Landesbank Girozentrale, Floating Rate, (Germany), (Yankee), 5.81%, 12/15/00 129,923 Commerzbank AG (Germany), (Yankee), 27,000 5.12%, 04/25/00 26,997 90,000 6.52%, 01/08/01 89,978 First Union National Bank, Floating Rate, 100,000 6.08%, 03/01/00 100,000 54,000 6.16%, 05/17/00 54,000 95,000 6.27%, 03/29/00 95,000 Fleet National Bank, Floating Rate, 73,000 5.97%, 04/17/00 72,996 100,000 6.04%, 10/26/00 99,974 50,000 National Westminster Bank PLC, (United Kingdom), (Yankee), 5.28%, 04/03/00 49,999 50,000 Norddeutsche Landesbank Girozentrale, (Germany), (Yankee), 6.55%, 01/16/01 49,979 Rabobank Nederland NV (Netherlands), (Yankee), 50,000 5.18%, 03/28/00 49,998 150,000 5.88%, 03/01/00 150,000 75,000 6.50%, 01/29/01 74,967 175,000 Regions Bank, 5.88%, 03/01/00 175,000 96,000 Royal Bank of Canada, (Canada), (Yankee), 5.12%, 03/20/00 95,999 Svenska Handelsbanken, Inc., (Sweden), (Yankee), 18,000 5.23%, 03/01/00 18,000 50,000 6.75%, 02/14/01 49,976 UBS Finance, Inc., (Switzerland), (Yankee), 60,000 5.41%, 06/01/00 59,993 40,000 5.53%, 06/06/00 39,996 99,000 5.76%, 07/06/00 98,987 ------------------------------------------------------------------ Total Certificates of Deposit 1,981,626 (Cost $1,981,626) ------------------------------------------------------------------
See notes to financial statements. 20 CHASE VISTA CASH MANAGEMENT FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ------------------------------------------------------------------------------- Money Market Instruments -- Continued ------------------------------------------------------------------------------- Time Deposits -- 3.6% $ 135,566 Deutsche Bank AG, (Germany), 5.88%, 03/01/00 $ 135,566 200,000 National City Bank, 5.88%, 03/01/00 200,000 --------------------------------------------------------------- Total Time Deposits 335,566 (Cost $335,566) -------------------------------------------------------------------------------- Total Investments -- 102.1% $9,491,676 (Cost $9,491,676)* --------------------------------------------------------------------------------
See notes to financial statements. 21 -------------------------------------------------------------------------------- CHASE VISTA PRIME MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value -------------------------------------------------------------------------------- Money Market Instruments -- 101.2% -------------------------------------------------------------------------------- U.S. Government Agency Securities -- 2.9% ----------------------------------------- Federal Home Loan Bank, $ 60,000 DN, 5.66%, 05/26/00 $59,211 25,000 DN, 5.70%, 03/15/00 24,947 35,000 DN, 5.85%, 11/17/00 33,597 50,000 DN, 5.93%, 11/24/00 47,916 55,000 DN, 6.03%, 12/08/00 52,549 15,000 DN, 6.13%, 12/22/00 14,287 25,000 DN, 6.32%, 01/08/01 23,707 25,000 DN, 6.50%, 02/01/01 23,572 -------------------------------------------------------------- Total U.S. Government Agency Securities 279,786 (Cost $279,786) -------------------------------------------------------------- State and Municipal Obligations -- 0.1% --------------------------------------- Michigan -- 0.1% 5,056 Sault Ste Marie Michigan Tribe Building Authority, Taxable, FRDO, 6.46%, 06/01/00 5,056 Texas -- 0.0% 3,600 Texas State, Taxable, Medical Options Period, FRDO, 5.99%, 03/01/00 3,600 -------------------------------------------------------------- Total State and Municipal Obligations 8,656 (Cost $8,656) -------------------------------------------------------------- Corporate Notes & Bonds -- 37.9% -------------------------------- Asset Backed Securities -- 23.9% 75,000 Bavaria TRR Corp., (Germany), FRN, 6.01%, 03/23/00 74,999 Beta Finance Corp., Inc., (Channel Islands), 60,000 MTN, #, 6.02%, 08/15/00 60,000 65,000 MTN, #, 6.87%, 02/26/01 65,000 70,000 MTN, FRN, #, 6.06%, 07/27/00 70,000 CC USA Inc. (Centauri Corp.), 60,000 MTN, #, 5.75%, 07/20/00 60,000 60,000 MTN, #, 6.10%, 09/07/00 60,000 50,000 MTN, FRN, #, 5.85%, 04/26/00 49,999 100,000 MTN, FRN, #, 5.96%, 05/22/00 99,998 127,000 Corporate Asset Funding, FRN, 5.91%, 03/15/00 127,000 Dorada Finance Inc., 35,000 MTN, #, 5.60%, 06/07/00 35,000 70,000 MTN, FRN, #, 5.87%, 07/17/00 69,991 75,000 MTN, FRN, #, 6.12%, 09/05/00 75,000 K2 (USA) LLC, 50,000 FRN, 6.03%, 03/29/00 50,000 50,000 FRN, 6.04%, 03/15/00 50,000 25,000 MTN, #, 5.60%, 06/12/00 25,000 35,000 MTN, #, 5.68%, 06/15/00 35,000 70,000 MTN, FRN, #, 5.97%, 05/30/00 70,000 100,000 MTN, FRN, #, 5.99%, 08/15/00 100,000 25,000 MTN, FRN, #, 6.11%, 07/17/00 25,000 50,000 MTN, FRN, #, 6.11%, 10/16/00 50,000 Restructured Asset Securities with Enhanced Returns (RACERS), 100,000 1999 Ser. MM-16, FRN, #, 5.91%, 06/02/00 100,000 37,000 1999 Ser. MM-35, FRN, #, 5.99%, 12/15/00 37,000
See notes to financial statements. 22 CHASE VISTA PRIME MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value -------------------------------------------------------------------------------------- Money Market Instruments -- Continued -------------------------------------------------------------------------------------- Asset Backed Securities -- Continued $ 25,000 Short Term Repackage Asset Trust Securities (STRATS), 1999, Ser. C, FRN, #, 5.95%, 04/13/00 $ 25,000 Sigma Finance Corp., (Channel Islands), 35,000 FRN, #, 6.22%, 03/15/00 35,000 50,000 MTN, 5.38%, 03/13/00 50,000 75,000 MTN, FRN, #, 5.92%, 03/05/01 75,000 25,000 MTN, FRN, #, 5.97%, 05/25/00 24,999 25,000 MTN, FRN, #, 5.98%, 04/25/00 25,000 50,000 MTN, FRN, #, 6.11%, 06/11/00 50,000 70,000 MTN, FRN, #, 6.15%, 09/15/00 70,000 100,000 MTN, FRN, #, 6.51%, 06/30/00 100,000 SMM Trust, 50,000 1999 Ser. B, #, 5.45%, 03/15/00 50,000 80,000 1999 Ser. B, FRN, #, 6.18%, 03/15/00 80,000 35,000 1999 Ser. E, #, 5.36%, 04/05/00 35,000 40,000 1999 Ser. E, FRN, #, 6.02%, 04/05/00 40,000 136,957 1999 Ser. G, FRN, #, 5.99%, 06/05/00 136,956 Structured Enhanced Return Trust, (STEERS), 42,400 1998 Ser. A-39, MTN, FRN, #, 5.87%, 04/25/00 42,400 43,447 1998 Ser. A-42, MTN, FRN, #, 6.06%, 08/25/00 43,447 14,003 UCP LLC, 1999 Ser. A-1, 6.17%, 09/23/00 14,001 --------- 2,285,790 Automotive -- 0.2% 20,000 Toyota Motor Credit Corp., MTN, FRN, 6.91%, 10/25/00 20,012 Banking -- 3.5% 25,000 Abbey National Treasury Services PLC, (United Kingdom), (Yankee), MTN, 5.24%, 03/01/00 25,000 16,000 American Express Centurion Bank, FRN, 5.96%, 05/25/00 16,000 70,000 BankAmerica Corp., FRN, 5.92%, 03/16/00 69,999 Barclays Bank PLC, (United Kingdom), 70,000 FRN, 5.89%, 03/15/00 69,998 100,000 FRN, 5.89%, 05/12/00 99,989 50,000 U.S. Central Credit Union, MTN, 5.08%, 04/19/00 49,996 --------- 330,982 Diversified -- 2.8% General Electric Capital Corp., 140,000 MTN, FRN, 6.04%, 05/03/00 140,000 130,000 MTN, FRN, 6.05%, 05/12/00 129,998 --------- 269,998 Financial Services -- 6.2% 90,000 Goldman Sachs Group LP, FRN, 6.12%, 06/13/00 90,000 60,000 HomeSide Lending Inc., MTN, FRN, 6.14%, 03/20/00 59,993 150,000 Merrill Lynch & Co., Inc., MTN, FRN, 5.88%, 03/06/01 149,985 Morgan Stanley Dean Witter & Co. 150,000 FRN, 5.96%, 08/07/00 150,000 55,000 MTN, FRN, 5.96%, 05/15/01 55,003 35,000 MTN, FRN, 6.22%, 03/13/01 35,000 50,000 MTN, FRN, 6.22%, 03/15/01 50,000 --------- 589,981
See notes to financial statements. 23 CHASE VISTA PRIME MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value --------------------------------------------------------------------------------------- Money Market Instruments -- Continued --------------------------------------------------------------------------------------- Insurance -- 1.2% $ 73,200 First Allmerica Financial Life Insurance Co., FRN, 6.03%, 04/07/00 $ 73,200 42,900 Jackson National Life Insurance Co., FRN, 6.20%, 09/01/03 42,900 --------- 116,100 Utilities -- 0.1% 9,000 Hydro Quebec (Canada), MTN, FRN, 5.98%, 01/15/22 9,000 ---------------------------------------------------------------------- Total Corporate Notes & Bonds 3,621,863 (Cost $3,621,863) ---------------------------------------------------------------------- Commercial Paper -- 31.6% ------------------------- Asset Backed Securities -- 23.4% 60,000 ACE Overseas Corp., 6.04%, 03/01/00 60,000 Alpine Securitization Corp., 72,451 5.83%, 03/14/00 72,299 100,000 5.83%, 03/23/00 99,646 Amsterdam Funding Corp., 75,000 5.85%, 03/06/00 74,939 49,652 5.85%, 03/24/00 49,467 37,000 Aquinas Funding LLC, #, 6.05%, 03/08/00 36,957 50,000 Atlantis One Funding, 6.00%, 03/28/00 49,782 47,000 Bavaria Universal Funding, 5.87%, 03/22/00 46,840 35,000 Beta Finance Corp., Inc., (Channel Islands), 6.00%, 03/20/00 34,892 Compass Securitization LLC, 72,950 5.84%, 03/17/00 72,762 64,000 5.84%, 03/24/00 63,762 50,000 5.85%, 03/16/00 49,879 Dorada Finance Inc., 60,000 #, 5.83%, 04/28/00 59,460 65,000 #, 6.00%, 05/05/00 64,326 Falcon Asset Securitization Corp., 66,808 5.85%, 03/31/00 66,484 38,985 5.86%, 03/28/00 38,815 26,267 Forrestal Funding Master Trust, 5.85%, 03/27/00 26,157 Galaxy Funding Inc., 85,000 5.86%, 03/28/00 84,628 54,600 5.87%, 03/13/00 54,494 45,000 5.87%, 03/15/00 44,898 40,000 Govco Inc., 6.04%, 05/25/00 39,438 International Securitization Corp., 97,980 5.84%, 03/17/00 97,727 85,000 5.85%, 03/20/00 84,739 150,000 Intrepid Funding Master Trust, Ser. 1999-A, 6.28%, 09/05/00 145,238 75,585 Monte Rosa Capital Corp., #, 6.02%, 05/15/00 74,650 Moriarty LLC, 60,000 6.05%, 03/08/00 59,930 40,000 6.27%, 08/17/00 38,858 85,000 6.29%, 08/22/00 82,494
See notes to financial statements. 24 CHASE VISTA PRIME MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ------------------------------------------------------------------------------------ Money Market Instruments -- Continued ------------------------------------------------------------------------------------ Asset Backed Securities -- Continued Sheffield Receivables Corp., $ 51,300 #, 5.84%, 03/20/00 $ 51,143 80,000 #, 5.85%, 03/29/00 79,638 50,000 Sigma Finance Corp., (Channel Islands), #, 6.33%, 09/01/00 48,433 88,699 Three Rivers Funding Corp., 5.82%, 03/10/00 88,570 86,215 Tulip Funding Corp., 5.84%, 03/13/00 86,048 40,000 Twin Towers Inc., #, 5.85%, 03/24/00 39,851 55,000 WCP Funding Inc., #, 5.85%, 03/14/00 54,884 --------- 2,222,128 Banking -- 4.9% 50,000 Banco Bozano Simonsen SA (Brazil), 5.93%, 06/15/00 49,176 20,000 Banco Itau SA (Cayman Islands), 6.05%, 05/12/00 19,768 80,000 Banco Rio De La Plata SA, (Argentina), 5.87%, 03/09/00 79,896 Banco Santander Puerto Rico, 100,000 5.83%, 03/14/00 99,791 54,450 5.84%, 03/10/00 54,371 90,000 Cregem North America Inc., 5.89%, 04/10/00 89,425 75,000 CSN Overseas, 6.08%, 03/03/00 74,975 --------- 467,402 Consumer Products -- 0.3% 32,500 Florens Container Inc., 6.09%, 05/04/00 32,159 Hotels/Other Lodging -- 0.5% 50,000 Accor SA, (France), 6.04%, 03/07/00 49,950 Telecommunications -- 0.9% 85,000 British Telecommunications PLC, (United Kingdom), 6.27%, 08/31/00 82,373 Utilities -- 1.6% Comision Federal De Electricidad, (Mexico), 55,000 6.00%, 03/28/00 54,760 100,000 6.01%, 03/27/00 99,579 --------- 154,339 -------------------------------------------------------------------- Total Commercial Paper 3,008,351 (Cost $3,008,351) -------------------------------------------------------------------- Certificates of Deposit -- 21.7% 35,000 Banco Bilboa Vizcaya SA (Spain), (Yankee), 5.62%, 06/14/00 34,996 Bank Austria AG (Austria), (Yankee), 50,000 5.20%, 05/08/00 49,996 50,000 6.55%, 02/01/01 49,978 59,000 6.71%, 02/05/01 58,974 130,000 Banque Nationale De Paris, (France), (Yankee), 5.98%, 05/01/00 130,002 Bayerische Landesbank Girozentrale, Floating Rate, (Germany), (Yankee), 50,000 5.78%, 04/10/00 49,996 190,000 5.80%, 03/01/01 189,908 135,000 5.81%, 12/15/00 134,921 120,000 6.00%, 08/02/00 119,975
See notes to financial statements. 25 CHASE VISTA PRIME MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount (USD) Issuer Value ------------------------------------------------------------------------------------ Money Market Instruments -- Continued ------------------------------------------------------------------------------------ Certificates of Deposit -- Continued Credit Communal De Belgique S.A., (Belgium), (Yankee), $ 25,000 5.96%, 10/02/00 $ 24,976 100,000 Floating Rate, 5.79%, 03/01/01 99,951 Deutsche Bank AG, (Germany), (Yankee), 50,000 5.08%, 04/12/00 49,996 50,000 Floating Rate, 5.88%, 04/26/00 49,995 Landesbank Baden-Wuerttemberg, (Germany), (Yankee), 100,000 6.03%, 03/02/00 100,000 40,000 6.04%, 03/06/00 40,000 50,000 (Principal in Euro), 6.03%, 05/03/00 50,001 50,000 Norddeutsche Landesbank Girozentrale, (Germany), (Yankee), 6.55%, 01/16/01 49,979 75,000 Rabobank Nederland NV (Netherlands), (Yankee), 6.50%, 01/29/01 74,967 110,000 Regions Bank, 5.88%, 03/01/00 110,000 68,000 Svenska Handelsbanken Inc., (Sweden), (Yankee), 6.75%, 02/14/01 67,968 UBS Finance Inc., (Switzerland), (Yankee), 50,000 5.25%, 03/10/00 49,999 50,000 5.70%, 07/10/00 49,991 100,000 6.50%, 01/08/01 99,959 Westdeutsche Landesbank Girozentrale, (Germany), (Yankee), 70,000 5.99%, 03/01/00 70,000 260,000 Floating Rate, 5.80%, 02/28/01 259,873 -------------------------------------------------------------------- Total Certificates of Deposit 2,066,401 (Cost $2,066,401) -------------------------------------------------------------------- Time Deposits -- 4.9% --------------------- 64,294 Branch Banking & Trust Co., 5.81%, 03/01/00 64,294 200,000 Rabobank, New York, (Principal in Euro), 5.88%, 03/01/00 200,000 200,000 Sun Trust Bank, Atlanta, 5.84%, 03/01/00 200,000 -------------------------------------------------------------------- Total Time Deposits 464,294 (Cost $464,294) -------------------------------------------------------------------- Repurchase Agreement -- 2.1% ---------------------------- 200,000 Greenwich Capital Markets, Inc., 5.87%, due 03/01/00 (Dated 02/29/00, Proceeds $200,033, Secured by USTR and U.S. Government Agency Obligations, $273,470, 2.41% through 11.88%, due 04/27/00 through 11/25/29; Market Value $204,005) 200,000 (Cost $200,000) -------------------------------------------------------------------- Total Investments -- 101.2% $9,649,351 (Cost $9,649,351)* --------------------------------------------------------------------
See notes to financial statements. 26 -------------------------------------------------------------------------------- CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Money Market Instruments -- 100.1% ------------------------------------------------------------------------------------- U.S. Government Agency Securities -- 1.2% ----------------------------------------- $ 19,300 Federal Home Loan Bank, DN, 5.72%, 03/01/00 $19,300 (Cost $19,300) --------------------------------------------------------------------- Municipal Securities -- 98.9% ----------------------------- Alabama -- 4.4% Alabama State, Public School & College Authority, 11,985 Ser. 101, PUTTERS, FRDO, 3.96%, 03/04/00 11,985 3,820 Ser. 124, PUTTERS, FRDO, 3.96%, 03/02/00 3,820 Birmingham, Alabama, 9,000 Capital Improvement Warrants, Ser. A, GO, FRDO, 3.87%, 03/07/00 9,000 5,000 GO, FRDO, 3.87%, 03/03/00 5,000 3,450 Ser. A, Warrants, FRDO, 3.87%, 03/02/00 3,450 6,650 Daphine, Alabama, Special Care Facilities Financing Authority, Presbyterian Retirement, Ser. A, Rev., FRDO, +, 3.87%, 03/02/00 6,650 3,000 Infirmary Health Systems, Special Care Facilities Financing Authority, Mobile, Alabama, Infirmary Health Systems Inc., Ser. A, Rev., FRDO, 3.87%, 03/07/00 3,000 5,000 Jefferson County, Alabama, Warrants, GO, FRDO, 3.91%, 03/06/00 5,000 1,195 Marshall County, Alabama, Special Obligation, Warrants, FRDO, 3.95%, 03/06/00 1,195 6,400 North Alabama Environmental Improvement Authority, Alabama, PCR, Reynold Metals, Rev., FRDO, 3.75%, 03/01/00 6,400 14,730 Port City Medical Clinic Board, Mobile, Alabama, Infirmary Health Systems, Ser. B, Rev., FRDO, +, 3.87%, 03/02/00 14,730 3,100 University of Alabama, Ser. B, Rev., FRDO, 3.85%, 03/03/00 3,100 ------- 73,330 Alaska -- 0.3% 4,635 North Slope Boro, Alaska, Ser. B, GO, +, 6.75%, 06/30/00 4,676 Arizona -- 0.4% 3,000 Arizona Educational Loan Marketing Corp., Educational Loan, Ser. A, Rev., 6.70%, 03/01/00 3,000 2,200 Coconino County, Arizona, Pollution Control Corp., Arizona Public Service Co. Project, Rev., FRDO, 3.90%, 03/01/00 2,200 1,000 Maricopa County, Arizona, IDA, Health Facilities, St. Josephs Care Center Project, Ser. A, Rev., +, ~, 7.75%, 07/01/00 1,032 ------- 6,232 Arkansas -- 1.5% Arkansas Hospital Equipment Finance Authority, 3,600 AHA Pooled Financing Program, Rev., FRDO, 3.95%, 03/01/00 3,600 3,000 Baptist Health Project, Rev., FRDO, +, 3.91%, 03/03/00 3,000
See notes to financial statements. 27 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ----------------------------------------------------------------------------------- Money Market Instruments -- Continued ----------------------------------------------------------------------------------- Arkansas -- Continued $ 4,000 Arkansas State, Development Finance Authority, IDR, Stratton Seed Co. Project, Rev., FRDO, 4.05%, 03/06/00 $4,000 5,500 Columbia County, Arkansas, Solid Waste Disposal, Albemarle Corp. Project, Rev., FRDO, 4.05%, 03/02/00 5,500 8,750 Miller County, Arkansas, Solid Waste Disposal, Tyson Foods Inc. Project, Rev., FRDO, 3.96%, 03/06/00 8,750 ------ 24,850 California -- 0.7% 20 California State Economic Development Financing Authority, IDR, Standard Abrasives Manufacturing Project, Rev., FRDO, 2.65%, 03/01/00 20 7,600 Los Angeles, California, Regional Airports Improvement Corp., Sublease, Los Angeles International Airport, Rev., FRDO, 3.75%, 03/01/00 7,600 900 San Diego, California, IDR, Kaiser Aerospace & Electric, Ser. A, Rev., FRDO, 2.65%, 03/06/00 900 4,000 Student Education Loan Marketing Corp., California, Student Loan, Ser. A, Rev., FRDO, 3.25%, 06/01/00 4,000 ------ 12,520 Colorado -- 3.8% Colorado Student Obligation Bond Authority, Student Loan, 5,000 Senior Lien, Ser. A-2, Rev., FRDO, +, 3.95%, 03/01/00 5,000 2,500 Senior Lien, Ser. A-3, Rev., FRDO, +, 3.95%, 03/01/00 2,500 Denver, Colorado, City & County Airport, 22,230 Floating Rate Certificates, Ser. 136, Rev., FRDO, +, 3.96%, 03/06/00 22,230 15,580 Floating Rate Certificates, Ser. 153, Rev., FRDO, +, 3.94%, 03/06/00 15,580 18,000 Jefferson County, Colorado School District No. R-001, Rev., TAN, 4.50%, 06/30/00 18,028 ------ 63,338 Delaware -- 0.1% 2,000 Delaware State, Ser. B, GO, 5.00%, 05/01/00 2,004 District of Columbia -- 1.1% District of Columbia, 1,400 George Washington University, Ser. A, Rev., FRDO, 3.95%, 03/02/00 1,400 4,315 Pooled Loan Program, Ser. A, Rev., FRDO, 3.90%, 03/07/00 4,315 1,000 Ser. A, GO, +, ~, 7.50%, 06/01/00 1,028 4,755 District of Columbia, Water & Sewer Authority, Public Utility, Rev., FRDO, 3.96%, 03/03/00 4,755 6,155 Eagle Tax Exempt Trust, Weekly Option Mode, Water & Sewer Rev., District of Columbia, Ser. 98-5202, FRDO, #, 3.96%, 03/02/00 6,155 ------ 17,653 Florida -- 6.3% Dade County, Florida, Housing Finance Authority, Multi-Family Housing, 2,745 Kendall Ct. Apartments, Rev., FRDO, 3.85%, 03/04/00 2,745 2,045 Star Creek Apartments, Rev., FRDO, 3.85%, 03/02/00 2,045
See notes to financial statements. 28 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Money Market Instruments -- Continued ------------------------------------------------------------------------------------- Florida -- Continued $ 6,805 Eagle Tax-Exempt Trust, Weekly Option Mode, Jacksonville, Florida, Ser. 96C-0915, #, 4.00%, 03/02/00 $ 6,805 Florida Housing Finance Corp., 7,185 Multi-Family Housing, Beneva Project, Ser. C, Rev., FRDO, 3.89%, 03/03/00 7,185 5,000 Multi-Family Housing, Kings Project, Ser. D, Rev., FRDO, 3.96%, 03/02/00 5,000 1,300 Multi-Family Housing, South Pointe Project, Ser. J, Rev., FRDO, 3.88%, 03/05/00 1,300 4,000 Multi-Family Housing, Twin Colony Project, Ser. EE, Rev., FRDO, 3.95%, 03/01/00 4,000 2,235 Timberline Apartments, Ser. P, Rev., FRDO, 3.95%, 03/03/00 2,235 14,600 Florida State, Board of Education, Capital Outlay, Municipal Securities Trust Receipts, Ser. SGA-67, GO, FRDO, 3.90%, 03/01/00 14,602 Gulf Breeze, Florida, Local Government Loan Program, 10,315 Ser. B, Rev., FRDO, +, 3.85%, 03/05/00 10,315 12,450 Ser. C, Rev., FRDO, +, 3.85%, 03/05/00 12,450 10,000 Jacksonville, Florida, Capital Project, Ser. 2, Rev., FRDO, +, 4.00%, 03/01/00 10,000 8,000 Jacksonville, Florida, Educational Facilities, Jacksonville University Project, Rev., FRDO, 3.05%, 03/06/00 8,000 1,000 Jacksonville, Florida, Health Facilities Authority, River Garden Project, Rev., FRDO, 3.85%, 03/05/00 1,000 4,700 Orange County, Florida, Health Facilities Authority, Presbyterian Retirement Project, Rev., FRDO, 3.95%, 03/02/00 4,700 4,000 Orange County, Florida, Housing Finance Authority, Rev., 3.40%, 06/01/00 4,000 4,500 The University of North Florida Foundation Inc., Parking System, Rev., FRDO, 4.00%, 03/03/00 4,500 5,490 Volusia County, Florida, Health Facilities Authority, Southwest Volusia Health, Ser. A, Rev., FRDO, 3.85%, 03/06/00 5,490 ------- 106,372 Georgia -- 6.2% 6,600 Atlanta, Georgia, Urban Residential Finance Authority, Multi-Family Housing, The Park at Lakewood, Rev., FRDO, 4.00%, 03/06/00 6,600 1,180 Atlanta, Georgia, Water & Wastewater, Municipal Securities Trust Receipts, Ser. SGA-86, Rev., FRDO, +, 4.00%, 03/02/00 1,180 1,000 Bibb County, Georgia, Class A Certificates, Ser. C, FRDO, 4.08%, 03/04/00 1,000 5,000 Burke County, Georgia, Development Authority PCR, Rev., +, 3.70%, 04/25/00 5,000 2,335 Carroll County, Georgia, School District, GO, 3.10%, 04/01/00 2,335 6,900 Crisp County, Georgia, Solid Waste Management Authority, Rev., FRDO, +, 4.01%, 03/07/00 6,900 15,100 Eagle Tax Exempt Trust, Weekly Option Mode, Ser. 97C-1002, FRDO, #, 3.96%, 03/01/00 15,100
See notes to financial statements. 29 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value --------------------------------------------------------------------------------------- Money Market Instruments -- Continued --------------------------------------------------------------------------------------- Georgia -- Continued $ 2,200 Elbert County & Elberton & Bowman, Georgia, Development Authority, IDR, Seaboard Farms, Rev., FRDO, 3.90%, 03/07/00 $ 2,200 3,240 Fayette County, Georgia, School District, GO, 4.50%, 03/01/00 3,240 5,000 Fulco, Georgia, Hospital Authority, Piedmont Hospital Project, Revenue Anticipation Certificates, FRDO, 3.95%, 03/06/00 5,000 1,000 Fulton County, Georgia, Development Authority, Arthritis Foundation Inc. Project, Rev., FRDO, 3.95%, 03/02/00 1,000 Fulton County, Georgia, Housing Authority, Multi-Family Housing, 13,860 Champion's Green Apartments, Ser. A, Rev., FRDO, 3.95%, 03/07/00 13,860 7,000 Hampton Hills Apartments Project, Rev., FRDO, 3.90%, 03/06/00 7,000 8,300 Holcomb's Landing Apartments, Rev., FRDO, 3.90%, 03/02/00 8,300 3,000 Georgia Local Government, COP, FLOATS, Ser. PT-1060, FRDO, 3.98%, 03/07/00 3,000 3,946 Georgia Municipal Association Pooled Bond, COP, FRDO, +, 3.90%, 03/01/00 3,946 2,085 Georgia State, Residential Finance Authority, Home Ownership Mortgage, Ser. A, Rev., FRDO, 4.00%, 06/01/00 2,095 4,755 Macon-Bibb County, Georgia, Hospital Authority, Medical Center of Central Georgia, Rev., FRDO, 3.95%, 03/05/00 4,755 6,225 Marietta, Georgia, Housing Authority, Multi-Family Housing, Concepts 21 Apartments, Rev., FRDO, 3.80%, 03/06/00 6,225 5,000 Richmond County, Georgia, Hospital Authority, University Health Services Inc. Project, Revenue Anticipation Certificates, FRDO, 3.95%, 03/01/00 5,000 ------- 103,736 Hawaii -- 0.2% 2,000 Hawaii State, Airports System, Second Ser., Rev., +, 5.45%, 07/01/00 2,013 1,805 Hawaii State, Housing Finance & Development Corp., Single Family Mortgage, FLOATS, Ser. PA-73A, Rev., FRDO, 4.06%, 03/03/00 1,806 ------- 3,819 Idaho -- 0.3% 5,000 Idaho State, GO, TAN, 4.25%, 06/30/00 5,014 Illinois -- 4.9% 6,000 Central Lake County, Illinois, Ser. A, Rev., +, ~, 7.00%, 05/01/00 6,149 2,625 Chicago, Illinois, Floating Rate Certificates, Ser. 126, GO, FRDO, +, 3.96%, 03/04/00 2,625 6,815 Elmhurst, Illinois, Joint Commission Accredation, Rev., FRDO, 3.95%, 03/07/00 6,815
See notes to financial statements. 30 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------ Money Market Instruments -- Continued ------------------------------------------------------------------------------------ Illinois -- Continued Illinois Development Finance Authority, $ 3,405 IDR, CFC International Inc. Project, Rev., FRDO, 3.95%, 03/06/00 $3,405 2,000 IDR, Valspar Corp. Project, Special Tax, FRDO, 4.05%, 03/01/00 2,000 5,000 Local Government Financing Program, Ser. A, Rev., FRDO, +, 3.95%, 03/01/00 5,000 10,700 PCR, Illinois Power Co., Ser. D, ACES, Rev., FRDO, 4.00%, 03/06/00 10,700 1,935 Toughy LTD Partnership Project, Rev., FRDO, 3.95%, 03/06/00 1,935 Illinois Health Facilities Authority, 1,000 Lutheran Social Services Project, Ser. A, Rev., ~, 7.65%, 08/01/00 1,034 1,020 Series 1985-D, Rev., 3.85%, 04/05/00 1,020 6,900 Swedish Covenant Hospital Project, Rev., FRDO, +, 3.92%, 03/07/00 6,900 2,035 SwedishAmerican Hospital, Rev., +, ~, 7.40%, 04/01/00 2,083 3,600 Illinois Housing Development Authority, Multi-Family Housing, Camelot, Rev., FRDO, +, 3.95%, 03/06/00 3,600 1,000 Illinois State, GO, 4.35%, 07/01/00 1,001 20,000 Illinois State, Toll Highway Authority, Toll Highway Priority, Ser. B, Rev., FRDO, +, 3.85%, 03/02/00 20,000 2,660 Libertyville, Illinois, Industrial Revenue, Libertyville Manor Project, Rev., FRDO, 3.85%, 03/01/00 2,660 3,400 Naperville, Illinois, Heritage YMCA Group Inc., Rev., FRDO, 3.85%, 03/06/00 3,400 1,315 Northwest Suburban Municipal Joint Action Water Agency, Illinois, Water Supply Systems, Rev., +, 4.25%, 05/01/00 1,315 ------ 81,642 Indiana -- 3.0% 7,500 Indiana Health Facilities Financing Authority, Community Hospitals Project, Ser. B, Rev., FRDO, 3.95%, 03/07/00 7,500 Indiana State, Development Finance Authority, PCR, 9,000 Southern Indiana Gas & Electric, Ser. A, Rev., FRDO, 3.00%, 03/01/00 9,000 22,200 Southern Indiana Gas & Electric Co., Ser. C, Rev., FRDO, 3.05%, 03/01/00 22,200 1,435 Lafayette, Indiana, Economic Development, Health Quest Realty Project, Rev., FRDO, 3.95%, 03/06/00 1,435 660 Muncie, Indiana, Economic Development, Health Quest Realty Project, Rev., FRDO, 3.95%, 03/06/00 660 3,305 Municipal Securities Trust Certificates, Ser. 1997-19A, Class A, Rev., FRDO, #, +, ~, 3.95%, 03/03/00 3,305 5,400 Sullivan, Indiana, PCR, Rev., FRDO, 3.60%, 03/07/00 5,400 ------ 49,500 Iowa -- 0.3% 2,715 Davenport, Iowa, St. Lukes Hospital, Ser. A, Rev., +, ~, 7.40%, 07/01/00 2,798 1,500 Iowa Student Loan Liquidity Corp., Student Loan, Ser. C, Rev., 6.38%, 03/01/00 1,500 ------ 4,298
See notes to financial statements. 31 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Money Market Instruments -- Continued ---------------------------------------------------------------------------------- Kansas -- 0.5% $ 2,000 Eagle Tax-Exempt Trust, Weekly Option Mode, Ser. 2000-1601, FRDO, #, 3.96%, 03/01/00 $2,000 2,150 Spring Hill, Kansas, Industrial Revenue, Abrasive Engineering Project, Rev., FRDO, 3.95%, 03/07/00 2,150 1,650 Wichita, Kansas, Airport Facilities, Cessna Citation Center Project, Ser. III, Rev., FRDO, 4.00%, 03/07/00 1,650 1,800 Wichita, Kansas, Hospital, Facilities Improvement, Riverside, Ser. IV, Rev., FRDO, 3.95%, 03/03/00 1,800 ------ 7,600 Kentucky -- 1.7% 4,110 Clark County, Kentucky, PCR, Rev., FRDO, +, 3.70%, 04/15/00 4,110 9,000 Kentucky Asset Liability Commission, 1999 Road Fund Project, 3.65%, 03/02/00 9,000 15,000 Kentucky Interlocal School Transportation Association, COP, TRAN, 4.00%, 06/30/00 14,996 1,000 Kentucky State, Turnpike Authority, Economic Development, Road Revitalization Projects, Rev., ~, 7.45%, 05/15/00 1,022 ------ 29,128 Louisiana -- 2.9% 3,400 East Baton Rouge Parish, Louisiana, PCR, Exxon Project, Rev., FRDO, 3.80%, 03/01/00 3,400 2,930 Iberia Parish, Louisiana, Industrial Development Board Inc., Cuming Insulation Corp. Project, Rev., FRDO, 4.10%, 03/02/00 2,930 Jefferson Parish, Louisiana, Home Mortgage Authority, Single Family Mortgage, 2,255 Ser. A-2, Rev., 3.65%, 06/01/00 2,255 2,745 Ser. B-2, Rev., 3.65%, 06/30/00 2,745 Louisiana Housing Finance Agency, 2,000 Ser. A-52, Rev., FRDO, 3.40%, 03/02/00 2,000 2,470 Single Family, Class A, Series F, Rev., FRDO, 4.04%, 03/05/00 2,471 7,285 Single Family, Ser. C, Rev., FRDO, 3.35%, 06/01/00 7,285 5,575 Louisiana Public Facilities Authority, Tiger Athletic Foundation Project, Rev., FRDO, 3.91%, 03/02/00 5,575 17,650 Louisiana State, Ser. A, GO, +, ~, 6.00%, 08/01/00 17,796 1,675 New Orleans, Louisiana, Aviation Board, Ser. A, Rev., FRDO, +, 3.90%, 03/01/00 1,675 ------ 48,132 Maine -- 0.1% 1,300 Maine Educational Loan Marketing Corp., Student Loan, Ser. A-1, Rev., 5.80%, 05/01/00 1,303 Maryland -- 1.2% 4,900 Baltimore County, Maryland, Revenue Authority, Golf Systems, Rev., FRDO, 3.85%, 03/06/00 4,900 8,605 Howard County, Maryland, Multi-Family Housing, Sherwood Crossing LTD, Rev., FRDO, 3.30%, 06/01/00 8,605 2,180 Maryland State, FLOATS, Ser. PA-319, FRDO, 3.98%, 03/04/00 2,180
See notes to financial statements. 32 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Money Market Instruments -- Continued ---------------------------------------------------------------------------------- Maryland -- Continued $ 5,000 Maryland State, Stadium Authority, Sports Facilities Lease, Rev., FRDO, 3.95%, 03/01/00 $5,000 ------ 20,685 Massachusetts -- 2.4% 14,175 Massachusetts Bay Transportation Authority, PUTTERS, Ser. 112, FRDO, 3.23%, 03/01/00 14,175 2,635 Massachusetts Municipal Wholesale Electric Co., Power Supply System, Ser. A, Rev., +, 6.30%, 07/01/00 2,654 Massachusetts State, 3,750 Consolidated Loan, Ser. B, GO, 4.80%, 07/01/00 3,760 4,500 Ser. B, GO, 9.25%, 07/01/00 4,585 900 Trust Receipts, Ser. A-36, FRDO, 4.05%, 03/07/00 900 3,700 Massachusetts State, Health & Educational Facilities Authority, Municipal Securities Trust Receipts, Ser. SGA-65, Rev., FRDO, 3.90%, 03/01/00 3,701 6,000 Massachusetts State, Water Pollution Abatement Trust, Municipal Securities Trust Receipts, Ser. SGA-87, Rev., FRDO, 3.90%, 03/01/00 6,001 4,500 Massachusetts State, Water Resource Authority, Ser. A, Rev., ~, 7.50%, 04/01/00 4,606 ------ 40,382 Michigan -- 1.7% 5,900 Delta County, Michigan, Economic Development Corp., Environmental Improvement, Mead Escanaba Paper, Ser. C, Rev., FRDO, 3.80%, 03/01/00 5,900 1,000 Haslett, Michigan, Public School District, GO, ~, 7.40%, 05/01/00 1,015 Michigan State, Hospital Finance Authority, 1,300 Mt. Clemens Hospital, Rev., FRDO, 3.90%, 03/06/00 1,300 3,000 Oakwood Hospital, Ser. B, Rev., +, ~, 7.20%, 08/01/00 3,104 1,915 Oakwood Hospital Obligated Group, Rev., +, ~, 7.00%, 07/01/00 1,971 4,000 Rev., FRDO, 4.00%, 05/15/00 4,000 Michigan State, Strategic Fund LTD, 7,495 FLOATS, Ser. PT-237, Rev., FRDO, 3.98%, 03/07/00 7,495 1,175 Wayne Disposal, Oakland Project, Rev., FRDO, 4.00%, 03/01/00 1,175 2,000 Rockford, Michigan, Public Schools, GO, ~, 7.38%, 05/01/00 2,031 ------ 27,991 Minnesota -- 0.3% 3,300 Minnesota State, GO, FRDO, 3.96%, 03/06/00 3,300 1,915 Seaway Port Authority, Duluth, Minnesota, IDR, St. Lawrence Cement Project, Ser. H, Rev., 4.55%, 05/01/00 1,917 ------ 5,217 Mississippi -- 0.5% 3,360 Mississippi Business Finance Corp., IDR, Choctaw Maid Farms, Inc. Project, Rev., FRDO, 4.05%, 03/06/00 3,360 4,840 Mississippi Home Corp., Single Family, Class A Certificates, Ser. I, Rev., FRDO, 4.04%, 03/07/00 4,840 ------ 8,200
See notes to financial statements. 33 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ----------------------------------------------------------------------------------- Money Market Instruments -- Continued ----------------------------------------------------------------------------------- Missouri -- 2.3% $ 5,010 Independence, Missouri, IDA, Multi-Family Housing, FLOATS, Ser. PT-314, Rev., FRDO, 3.98%, 03/04/00 $5,010 Kansas City, Missouri, IDA, 3,500 IDR, Livers Bronze Co. Project, Rev., FRDO, 4.05%, 03/04/00 3,500 4,045 Multi-Family Housing, Woodlands Partners Project, Rev., FRDO, 3.92%, 03/02/00 4,045 1,000 Macon, Missouri, IDA, Health Care Realty Macon, Rev., FRDO, 3.80%, 03/01/00 1,000 1,600 Missouri Higher Education Loan Authority, Student Loan, Ser. B, Rev., FRDO, +, 4.00%, 03/06/00 1,600 Missouri State, Health & Educational Facilities Authority, 3,500 Health Facilities, SSM Health Care, Ser. AA, Rev., +, 5.40%, 06/01/00 3,511 3,500 School District, Advance Funding Program, Saint Charles R-6 School, Ser. J, GO, 4.25%, 09/19/00 3,509 1,900 School District, Advance Funding Program, Webster Groves School, Ser. K, GO, 4.25%, 09/19/00 1,905 Missouri State, Housing Development Commission, 9,050 FLOATS, Ser. PT-223, Rev., FRDO, 4.04%, 03/06/00 9,050 4,000 Ser. A-64, Rev., FRDO, 4.10%, 03/01/00 4,001 1,000 Osage Beach, Missouri, IDA, Health Care Realty Osage, Rev., FRDO, 3.71%, 03/01/00 1,000 ------ 38,131 Nebraska -- 0.1% 1,800 Sidney, Nebraska, IDR, Pennington Seed Inc. Project, Rev., FRDO, 4.05%, 03/07/00 1,800 Nevada -- 1.8% 1,000 Carson City, Nevada, School District, GO, +, ~, 6.80%, 04/01/00 1,023 4,000 Clark County, Nevada, Airport, Ser. B-2, Rev., FRDO, 3.70%, 03/01/00 3,999 1,000 Clark County, Nevada, School District, Computer Equipment, Ser. A, GO, +, 7.50%, 06/15/00 1,010 19,800 Eagle Tax Exempt Trust, Weekly Option Mode, Clark County, Ser. 98-2801, FRDO, #, 3.96%, 03/05/00 19,799 4,400 Nevada State, Municipal Securities Trust Receipts, Ser. SGB-31, GO, FRDO, 3.96%, 03/01/00 4,400 ------ 30,231 New Hampshire -- 0.2% 1,655 New Hampshire State, Business Finance Authority, Industrial Facilities, Nickerson Assembly Co., Rev., FRDO, 4.05%, 03/01/00 1,655 2,430 New Hampshire State, Housing Finance Authority, Single Family, FLOATS, Ser. PT-115, Rev., FRDO, 4.06%, 03/07/00 2,430 ------ 4,085 New Jersey -- 0.2% New Jersey Economic Development Authority, 2,700 Danic Urban Renewal, Rev., FRDO, 3.45%, 03/02/00 2,700 1,000 Water Facilities, United Water New Jersey Project, Ser. C., Rev., FRDO, +, 3.85%, 03/01/00 1,000 ------ 3,700
See notes to financial statements. 34 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Money Market Instruments -- Continued ------------------------------------------------------------------------------------- New Mexico -- 0.8% $ 2,000 Albuquerque, New Mexico, Joint Water & Sewer Systems, Ser. A, Rev., 4.10%, 07/01/00 $2,004 8,000 New Mexico Finance Authority, Administrative Fee, Ser. A, Rev., FRDO, 3.90%, 03/01/00 8,000 3,500 New Mexico State, Rev., TRAN, 4.50%, 06/30/00 3,506 ------ 13,510 New York -- 4.4% 12,220 IBM Tax Exempt Grantor Trust, IBM Project, FLOATS, Weekly Receipt, FRDO, 3.90%, 03/01/00 12,220 1,520 Monroe County, New York, Airport Authority, FLOATS, Ser. PA-585, Rev., FRDO, 4.04%, 03/04/00 1,520 3,865 Municipal Securities Trust Certificates, Ser. 1999-86, Class A, Rev., FRDO, +, 3.90%, 03/01/00 3,865 New York City, New York, 1,500 Ser. B, Sub. Ser. B-4, GO, FRDO, +, 3.80%, 03/01/00 1,500 6,550 Sub. Ser. E-5, GO, FRDO, 3.80%, 03/01/00 6,550 1,500 New York City, New York, Housing Development Corp., Multi-Family Rental Housing, Monterey, Ser. A, Rev., FRDO, 3.75%, 03/06/00 1,500 New York City, New York, Municipal Water Finance Authority, Water & Sewer Systems, 1,500 FLOATS, Ser. PA-454, Rev., FRDO, +, 3.98%, 03/07/00 1,500 3,800 Ser. C, Rev., FRDO, +, 3.80%, 03/01/00 3,800 5,000 Ser. G, Rev., FRDO, +, 3.75%, 03/01/00 5,000 5,000 New York State, Dorm Authority, State University Educational Facilities, Ser. B, Rev., +, ~, 7.25%, 05/15/00 5,133 3,000 New York State, Environmental Quality, Ser. G, GO, FRDO, 3.90%, 10/05/00 3,000 600 New York State, Job Development Authority, Special Purpose, Ser. B-1 Through B-9, Rev., FRDO, 3.75%, 03/01/00 600 18,100 New York State, Thruway Authority, Floating Rate Receipts, Ser. SGA-119, FRDO, 3.70%, 03/01/00 18,100 5,000 Suffolk County, New York, Ser. I, GO, TAN, 4.50%, 08/10/00 5,011 4,200 Triborough Bridge & Tunnel Authority, New York, FLOATS, Ser. SG-41, Rev., FRDO, 3.98%, 03/04/00 4,200 ------ 73,499 North Carolina -- 1.7% 2,000 Gaston County, North Carolina Industrial Facilities & Pollution Control Financing Authority, Quality Metal Project, Rev., FRDO, 4.00%, 03/07/00 2,000 900 Guilford County, North Carolina, Industrial Facilities & Pollution Control Financing Authority, Neal Manufacturing, Rev., FRDO, 4.00%, 03/06/00 900 7,200 Mecklenburg County, North Carolina, Public Improvement, Ser. C, GO, FRDO, 3.95%, 03/01/00 7,200 5,800 North Carolina, Medical Care Commission, Lutheran Retirement Project, Rev., FRDO, 3.90%, 03/06/00 5,800
See notes to financial statements. 35 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value --------------------------------------------------------------------------------------- Money Market Instruments -- Continued --------------------------------------------------------------------------------------- North Carolina -- Continued $ 5,200 Wake County, North Carolina, Industrial Facilities & Pollution Control Financing Authority, Carolina P & L Co. Project, Ser. A, Rev., FRDO, 3.65%, 03/01/00 $5,200 6,700 Winston, Salem, North Carolina, Municipal Leasing Corp., COP, FRDO, 3.90%, 03/06/00 6,700 ------ 27,800 Ohio -- 2.4% 8,950 Clinton County, Ohio, Ohio Hospital, Ohio Hospital Capital Inc., Pooled, Rev., FRDO, 3.95%, 03/01/00 8,950 5,000 Columbus, Ohio, Ser. 1, GO, FRDO, 3.70%, 03/02/00 5,000 Ohio Housing Finance Agency, 1,000 Residential Mortgage, Ser. A-2, Rev., 4.25%, 09/01/00 1,000 4,105 Single Family Mortgage, FLOATS, Ser. PT-71, Rev., FRDO, 4.06%, 03/03/00 4,110 Ohio State, Public Facilities Commission, 9,500 Higher Education Capital Facilities, Ser. II-B, Rev., +, 4.50%, 06/01/00 9,513 1,000 Higher Education Capital Facilities, Ser. II-B, Rev., +, 4.50%, 11/01/00 1,002 5,000 Mental Health Capital Facilities, Ser. II-A, Rev., +, 4.50%, 06/01/00 5,006 4,250 Ohio State, Special Obligation, Elementary & Secondary Education, Capital Facilities, Ser. A, Rev., 4.50%, 06/01/00 4,255 1,200 Ohio State, Water Development Authority, Environmental Mead Co., Ser. B, Rev., FRDO, 3.65%, 03/01/00 1,200 ------ 40,036 Oklahoma -- 1.3% 3,000 Oklahoma City, Oklahoma, Industrial & Cultural Facilities Trust, SSM Health Care, Ser. A, Rev., +, 5.00%, 06/01/00 3,007 8,000 Oklahoma Development Finance Authority, Oklahoma Hospital Association, Ser. A, Rev., FRDO, 3.95%, 03/01/00 8,000 3,800 Oklahoma State, Industries Authority, Integris Baptist, Ser. B, Rev., FRDO, +, 3.80%, 03/01/00 3,800 7,000 Oklahoma State, Water Resource Board, State Loan Program, Rev., FRDO, 4.05%, 03/01/00 7,000 ------ 21,807 Pennsylvania -- 3.2% 12,725 Allegheny County, Pennsylvania, Port Authority, Grant Anticipation Notes, Rev., 4.00%, 06/30/00 12,754 16,000 Delaware River Port Authority, Pennsylvania & New Jersey, FLOATS, Ser. PA-606, Rev., FRDO, 3.81%, 07/01/00 16,000 100 Delaware Valley, Pennsylvania, Regional Finance Authority, Local Government, Rev., FRDO, 3.90%, 03/01/00 100 2,000 Harrisburg, Pennsylvania, Water Authority, Municipal Securities Trust Receipts, Ser. SGA-80, Rev., FRDO, +, 3.95%, 03/05/00 2,000
See notes to financial statements. 36 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------ Money Market Instruments -- Continued ------------------------------------------------------------------------------------ Pennsylvania -- Continued $ 3,040 Montgomery County, Pennsylvania, Higher Education & Health Authority, Philadelphia Presbyterian Project, Rev., FRDO, 3.95%, 03/01/00 $3,040 Pennsylvania Intergovernmental Cooperative Authority, 4,000 Special Tax, City of Philadelphia Funding Program, Rev., +, 5.75%, 06/15/00 4,020 2,500 Special Tax, City of Philadelphia Funding Program, +, ~, 6.00%, 06/15/00 2,514 3,370 Pennsylvania State, Ser. A, GO, ~, 7.00%, 05/01/00 3,441 2,035 Philadelphia, Pennsylvania, Hospitals & Higher Education Facilities Authority, Jefferson Health Systems, Ser. A, Rev., +, ~, 5.00%, 05/15/00 2,042 4,425 Philadelphia, Pennsylvania, Redevelopment Authority, Multi-Family Housing, Courts Project, Ser. A, Rev., FRDO, 3.85%, 03/07/00 4,425 4,000 Philadelphia, Pennsylvania, School District, Ser. B, GO, TRAN, 4.00%, 06/30/00 4,007 ------ 54,343 Rhode Island -- 0.6% 5,200 Rhode Island State, Consolidated Capital Development Loan, Ser. B, GO, ~, 6.13%, 05/15/00 5,327 1,280 Rhode Island State, Health & Educational Building Corp., Johnson & Wales University, Rev., ~, 8.38%, 04/01/00 1,311 3,700 Rhode Island State, Industrial Facilities Corp., Blackstone Valley Electric Co., Rev., FRDO, 3.80%, 03/07/00 3,700 ------ 10,338 South Carolina -- 2.6% 1,000 Greenville County, South Carolina, School District, GO, 4.13%, 03/01/00 1,000 4,500 Kershaw County, South Carolina, IDR, New South Inc. Project, Rev., FRDO, 3.95%, 03/01/00 4,500 5,600 Piedmont Municipal Power Agency, South Carolina, Electric, Ser. D, Rev., FRDO, +, 3.85%, 03/02/00 5,600 South Carolina State, Public Service Authority, 1,000 Municipal Trust Receipts, Ser. SG-32, Rev., FRDO, ~, 3.98%, 03/04/00 1,001 4,500 Ser. A, Rev., 4.50%, 01/01/01 4,509 2,860 Ser. A, Rev., 4.80%, 07/01/00 2,872 1,000 South Carolina State, Ser. W, GO, ~, 6.25%, 05/01/00 1,025 South Carolina, Jobs Economic Development Authority, 4,500 Catholic Diocese, South Carolina Project, Rev., FRDO, 3.95%, 03/02/00 4,500 10,000 Health Facilities, Greenville Baptist Project, Rev., FRDO, 3.95%, 03/03/00 10,000 8,500 Seeber USA LLP Project, Rev., FRDO, 4.10%, 03/02/00 8,500 ------ 43,507 Tennessee -- 7.0% 6,900 Clarksville, Tennessee, Public Building Authority, Pooled Financing, Tennessee Municipal Bond Fund, Rev., FRDO, 3.90%, 03/06/00 6,900 3,500 Knoxville, Tennessee, Utilities Board, Electric Systems, Rev., FRDO, +, 3.80%, 03/01/00 3,500
See notes to financial statements. 37 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------ Money Market Instruments -- Continued ------------------------------------------------------------------------------------ Tennessee -- Continued Metropolitan Government of Nashville & Davidson Counties, Tennessee, $ 2,500 Health & Education Facilities Board, Vanderbilt University, Ser. 85-A, Rev., FRDO, 4.15%, 01/15/01 $ 2,500 7,500 Industrial Development Board, Country Music Hall of Fame, Rev., FRDO, 3.85%, 03/07/00 7,500 Sevier County, Tennessee, Public Building Authority, Local Government Public Improvement, 11,300 Ser. II-A-1, Rev., FRDO, +, 3.85%, 03/07/00 11,300 2,500 Ser. II-A-2, Rev., FRDO, +, 3.85%, 03/07/00 2,500 1,205 Ser. II-D-3, Rev., FRDO, +, 3.85%, 03/05/00 1,205 10,000 Ser. III-D-3, Rev., FRDO, 3.85%, 03/06/00 10,000 5,000 Ser. III-E-2, Rev., FRDO, 3.85%, 03/06/00 5,000 2,500 Ser. III-E-3, Rev., FRDO, 3.85%, 03/06/00 2,500 7,000 Ser. III-G-1, Rev., FRDO, +, 3.85%, 03/01/00 7,000 5,500 Ser. III-G-2, Rev., FRDO, +, 3.85%, 03/01/00 5,500 5,000 Shelby County, Tennessee, GO, 3.60%, 03/07/00 5,000 6,155 Shelby County, Tennessee, Health, Educational & Housing Facilities Board, Multi-Family Housing, Arbor Lake, Rev., FRDO, 4.05%, 03/04/00 6,155 800 South Pittsburgh, Tennessee, Industrial Development Board, Lodge Manufacturing Co. Project, Rev., FRDO, 4.05%, 03/01/00 800 6,615 Tennessee State, Ser. 108, PUTTERS, GO, FRDO, 3.94%, 03/06/00 6,615 Tennessee, Housing Development Agency, 19,205 FLOATS, Ser. PT-279, Rev., FRDO, 3.55%, 04/06/00 19,205 15,000 Homeownership Program, Ser. 1B, Rev., FRDO, 3.25%, 06/15/00 15,000 ------- 118,180 Texas -- 12.8% 1,500 Addison, Texas, GO, +, 6.25%, 09/01/00 1,501 1,000 Arlington, Texas, GO, +, 6.85%, 08/01/00 1,002 4,050 Bell County, Texas, Health Facilities Development Corp., Southern Healthcare Systems Project, Ser. C, Rev., FRDO, 3.90%, 03/07/00 4,050 Brazos River Authority, Texas, PCR, 5,000 TXU Electric Co., Ser. C, Rev., FRDO, 3.90%, 03/01/00 5,000 800 Utilities Electric Co., Ser. B, Rev., FRDO, +, 3.95%, 03/01/00 800 9,400 Carroll, Texas, Independent School District, GO, FRDO, 3.85%, 03/02/00 9,400 3,500 City of Dallas, Texas, Water, Rev., 3.85%, 03/02/00 3,500 9,250 Dallas County, Texas, Ser. C, GO, FRDO, 3.30%, 06/15/00 9,250 2,000 Dallas, Texas, Area Rapid Transit, North Central Light Rail, Rev., FRDO, 3.85%, 03/01/00 2,000 5,000 Dallas-Fort Worth, Texas, International Airport Facilities Improvement Corp., Flight Safety Project, Rev., FRDO, 4.05%, 03/03/00 5,000 Dallas-Fort Worth, Texas, Regional Airport, 1,855 Municipal Securities Trust Receipts, Ser. SGA-49, Rev., FRDO, +, 3.90%, 03/01/00 1,855 5,000 Ser. A-CR-103, Rev., FRDO, +, 4.05%, 05/01/00 5,000
See notes to financial statements. 38 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ----------------------------------------------------------------------------------- Money Market Instruments -- Continued ----------------------------------------------------------------------------------- Texas -- Continued Dallas-Fort Worth, Texas, Regional Airport (continued) $ 5,000 Ser. A-CR-104, Rev., FRDO, +, 4.05%, 05/01/00 $5,000 2,500 Ser. A-CR-107, Rev., FRDO, +, 4.05%, 05/01/00 2,500 3,910 Eagle Tax Exempt Trust, Weekly Option Mode, Ser. 99-4302, FRDO, #, 3.96%, 05/15/00 3,910 8,400 Greater East Texas, Higher Education, Ser. B, Rev., FRDO, 4.15%, 09/01/00 8,400 Greater Texas, Student Loan Corp., Student Loan, 10,000 Ser. A, Rev., 3.00%, 08/01/00 10,000 2,125 Ser. B, GO, FRDO, 3.25%, 03/01/00 2,125 3,000 Guadalupe Blanco River Authority, Texas, IDC, IDR, The BOC Group Inc. Project, Rev., FRDO, 3.95%, 03/07/00 3,000 Gulf Coast Waste Disposal Authority, Texas, 4,600 Amoco Oil Co. Project, Rev., FRDO, 3.75%, 04/01/00 4,600 1,400 Environmental Facilities, Amoco Oil Co. Project, Rev., FRDO, 3.90%, 03/01/00 1,400 3,700 Harris County, Texas, Health Facilities Development Corp., Methodist Hospital, Rev., FRDO, 3.80%, 03/01/00 3,700 Houston, Texas, 2,500 Public Improvement, Ser. A, GO, +, 4.75%, 03/01/00 2,500 8,000 Rev., TRAN, 4.25%, 06/30/00 8,004 Houston, Texas, Water & Sewer System, 5,000 GO, 3.70%, 03/09/00 5,000 3,000 GO, 3.75%, 03/06/00 3,000 2,930 Humble, Texas, Independent School District, GO, 6.50%, 02/15/01 2,992 4,000 Katy, Texas, Independent School District, Ser. A, GO, FRDO, 3.85%, 03/01/00 4,000 4,200 Longview, Texas, Industrial Corp., Collins Industries Inc. Project, Rev., FRDO, 4.05%, 03/04/00 4,200 14,815 Lower Colorado River Authority, Texas, FLOATS, Ser. PA-590, Rev., FRDO, +, 3.98%, 03/02/00 14,816 3,500 Matagorda County, Texas, Navigation District No. 1, PCR, Central P & L Co. Project, Rev., +, ~, 7.50%, 03/01/00 3,570 1,470 Midland, Texas, Independent School District, GO, FRDO, 3.85%, 03/06/00 1,470 3,700 Port Corpus Christi Authority, Texas, Nueces County, Solid Waste Disposal, Koch Petroleum Group, Rev., FRDO, 0.00%, 03/02/00 3,700 4,800 Richardson, Texas, Independent School District, Ser. A, GO, FRDO, 3.85%, 03/02/00 4,800 7,320 San Angelo, Texas, Independent School District, GO, FRDO, 3.90%, 03/02/00 7,320 5,000 San Antonio, Texas, Water Revenue, Municipal Securities Trust Receipts, Ser. SGA-42, Rev., FRDO, +, 3.95%, 03/06/00 5,000 3,400 Southwest, Texas, Higher Education Authority Inc., Southern Methodist University, Rev., FRDO, 3.80%, 03/01/00 3,400 Texas State, 4,945 FLOATS, Ser. PT-1991, Rev., FRDO, 4.04%, 03/01/00 4,945 34,700 Ser. A, Rev., TRAN, 4.50%, 08/31/00 34,832 4,400 Veteran's Housing Assistance, Ser. A-1, GO, FRDO, 4.05%, 03/07/00 4,400
See notes to financial statements. 39 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value -------------------------------------------------------------------------------------- Money Market Instruments -- Continued -------------------------------------------------------------------------------------- Texas -- Continued $ 2,000 Texas State, Department of Housing & Community Affairs, Residential Mortgage, Ser. B-2, Rev., FRDO, 3.90%, 05/01/00 $ 2,000 3,000 Texas State, Turnpike Authority, Dallas North Thruway, Floating Rate Receipts, Ser. SG-70, Rev., FRDO, 3.98%, 03/02/00 3,000 1,000 Texas Water Development Board, State Revolving Fund, Senior Lien, Rev., 5.50%, 07/15/00 1,005 ------- 216,947 Utah -- 1.5% 9,000 Central Utah, Water Conservancy District, Ser. E, GO, FRDO, +, 3.90%, 03/06/00 9,000 3,200 Davis County, Utah, School District, Utah School Board Guarantee Program, Project, GO, 3.30%, 06/01/00 3,199 8,500 Intermountain Power Agency, Utah, Power Supply, Ser. E, Rev., FRDO, +, 3.63%, 03/01/00 8,500 Utah State Board of Regents, 3,100 Student Loan, Ser. B, Rev., FRDO, +, 3.90%, 03/02/00 3,100 2,100 Student Loan, Ser. C, Rev., FRDO, +, 4.00%, 03/02/00 2,100 ------- 25,899 Virginia -- 1.7% Alexandria, Virginia, IDA, 2,230 Exempt Facilities, Rev., FRDO, 3.85%, 03/01/00 2,230 5,500 Resource Recovery, Rev., FRDO, 3.90%, 03/01/00 5,500 2,000 Harrisonburg, Virginia, Redevelopment & Housing Authority, Multi-Family Housing, Misty Ridge Project, Ser. A, Rev., FRDO, 3.95%, 03/06/00 2,000 4,870 King George County, Virginia, IDA, Exempt Facilities, Birchwood Power Partners, Ser. B, Rev., FRDO, 3.95%, 03/01/00 4,870 1,100 Lynchburg, Virginia, IDA, Hospital Facilities, First Mortgage, VHA Mid Atlantic/Cap, Ser. E, Rev., FRDO, +, 3.95%, 03/04/00 1,100 2,185 Petersburg, Virginia, Hospital Authority, Hospital Facilities, Southside Regional, Rev., FRDO, 3.85%, 03/01/00 2,185 2,385 Spotsylvania County, Virginia, IDA, Residential Care Facilities, Chancellor's Village Project, Rev., FRDO, 3.25%, 03/06/00 2,385 8,385 Virginia State, Public School Authority, Ser. 109, PUTTERS, Rev., FRDO, 3.96%, 03/05/00 8,385 ------- 28,655 Washington -- 4.2% Eagle Tax Exempt Trust, Weekly Option Mode, 15,265 Ser. 96C-4705, FRDO, #, 3.96%, 03/06/00 15,265 12,150 Ser. A, FRDO, #, 3.96%, 03/02/00 12,150 4,620 King County, Washington, Floating Rate Certificates, Ser. 47, GO, FRDO, +, 3.96%, 03/03/00 4,620 950 King County, Washington, Housing Authority, Auburn Court Apartments Project, Rev., FRDO, 4.15%, 03/01/00 950 6,900 Metropolitan, Washington, Airport, Rev., 4.00%, 05/26/00 6,900
See notes to financial statements. 40 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Money Market Instruments -- Continued ---------------------------------------------------------------------------------- Washington -- Continued $ 2,000 Port Townsend, Washington, Industrial Development, Port Townsend Paper Corp., Ser. A, Rev., FRDO, 4.00%, 03/06/00 $2,000 1,350 Redmond, Washington, Public Corp., Industrial Revenue, Integrated Circuits Project, Rev., FRDO, 3.85%, 03/02/00 1,350 1,315 Seattle, Washington, Housing Authority, Low Income Housing Assistance, Bayview Manor Project, Ser. B, Rev., FRDO, 3.75%, 03/01/00 1,315 11,515 Seattle, Washington, Water Systems, Municipal Securities Trust Receipts, Ser. SGA-90, Rev., FRDO, +, 3.95%, 03/02/00 11,516 2,000 Washington State, Health Care Facilities Authority, Sisters of Providence, Rev., ~, 8.25%, 10/01/00 2,085 3,000 Washington State, Housing Finance Commission, Single Family Program, Ser. 1-A-S, Rev., 4.20%, 02/01/01 3,000 Washington State, Public Power Supply Systems, 4,590 Nuclear Project No. 2, Ser. A, Rev., ~, 7.38%, 07/01/00 4,731 5,080 Nuclear Project No. 2, Ser. B, Rev., ~, 7.00%, 07/01/00 5,229 ------ 71,111 West Virginia -- 1.6% 15,800 West Virginia Public Energy Authority, Morgantown Association Project, Ser. A, Rev., 3.80%, 06/01/00 15,800 5,000 West Virginia School Building Authority, Capital Improvements, Ser. B, Rev., +, ~, 6.75%, 07/01/00 5,142 5,765 West Virginia State, Building Commission, FLOATS, Ser. PA-520, Rev., FRDO, 4.01%, 03/02/00 5,765 ------ 26,707 Wisconsin -- 2.5% 6,500 Byron, Wisconsin, IDR, Ocean Spray Inc. Project, Rev., FRDO, 3.95%, 03/06/00 6,500 Eagle Tax Exempt Trust, Weekly Option Mode, 9,800 Ser. 94-4904, FRDO, #, 3.98%, 03/06/00 9,799 1,395 Ser. 96C-4901, FRDO, #, 3.90%, 03/02/00 1,395 1,160 Milwaukee, Wisconsin, IDR, Longview Fibre Co. Project, Rev., FRDO, 4.15%, 03/03/00 1,160 3,250 Wisconsin Housing & Economic Development Authority, Home Ownership, Floating Rate Trust Receipts, Ser. 18, Rev., FRDO, 4.20%, 03/05/00 3,250 Wisconsin State, 3,000 GO, 3.65%, 03/06/00 3,000 3,170 Ser. A, GO, 4.20%, 05/01/00 3,175 2,785 Ser. D, GO, 4.00%, 05/01/00 2,786 Wisconsin State, Health & Educational Facilities Authority, 1,400 Alverno College Project, Rev., FRDO, 3.90%, 03/01/00 1,400 3,375 FLOATS, Ser. PA-183, Rev., FRDO, 3.98%, 03/05/00 3,377 3,200 SSM Health Care Projects, Ser. B, Rev., +, ~, 7.00%, 06/01/00 3,286
See notes to financial statements. 41 CHASE VISTA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Money Market Instruments -- Continued ------------------------------------------------------------------------------------- Wisconsin -- Continued $ 2,470 Wisconsin State, Transportation, Ser. B, Rev., +, 4.25%, 07/01/00 $ 2,472 ---------- 41,600 Wyoming -- 1.2% 700 Lincoln County, Wyoming, PCR, Exxon Project, Ser. B, Rev., FRDO, 3.65%, 03/01/00 700 4,000 Uinta County, Wyoming, PCR, Chevron USA Inc. Project, Rev., FRDO, 3.85%, 05/01/00 4,000 15,000 Wyoming State, General Fund, Rev., TRAN, 4.00%, 06/27/00 14,996 ---------- 19,696 ---------------------------------------------------------------------- Total Municipal Securities 1,659,204 (Cost $1,659,204) ------------------------------------------------------------------------------------- Total Investments -- 100.1% $1,678,504 (Cost $1,678,504)* -------------------------------------------------------------------------------------
See notes to financial statements. 42 -------------------------------------------------------------------------------- CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ----------------------------------------------------------------------------------- Municipal Securities -- 100.5% ----------------------------------------------------------------------------------- California -- 0.0% $ 200 Chula Vista, California, Multi-Family Housing, Terra November Association, Ser. A, Rev., FRDO, 2.40%, 03/07/00 $ 200 Georgia -- 0.5% 9,400 Atlanta, Georgia, Water & Wastewater, Municipal Securities Trust Receipts, Ser. SGA-86, Rev., FRDO, +, 4.00%, 03/01/00 9,400 New York -- 99.9% 21,402 ABN AMRO Munitops, Certificates Trust, New York, Ser. 1999-3, FRDO, #, 3.96%, 03/01/00 21,402 12,000 New York, Ser. 1999-13, FRDO, #, 3.80%, 03/08/00 12,000 2,000 Akron, New York, Central School District, GO, BAN, 4.00%, 06/30/00 2,002 590 Albany, New York, IDA, IDR, Newkirk Productions Inc. Project, Ser. A, Rev., FRDO, 3.80%, 03/06/00 590 1,355 Argyle, New York, Central School District, GO, +, 4.75%, 06/15/00 1,358 8,915 Attica, New York, Central School District, GO, BAN, 3.90%, 07/07/00 8,925 8,900 Avon, New York, Central School District, GO, BAN, 4.00%, 07/14/00 8,912 Babylon, New York, IDA, 1,600 IDR, Edwin Berger/Lambro Industries, Rev., FRDO, 3.90%, 03/01/00 1,600 200 Resource Recovery, OFS Equity Babylon Project, Rev., FRDO, 3.70%, 03/01/00 200 1,150 Baldwin, New York, Union Free School District, GO, TAN, 4.00%, 06/30/00 1,151 1,690 Beacon, New York, GO, BAN, 4.75%, 02/15/01 1,697 4,500 Binghamton, New York, City School District, GO, RAN, 4.50%, 06/30/00 4,506 7,000 Board of Cooperative Educational Services, New York, Second Supervisory District, Rev., RAN, 4.50%, 07/25/00 7,010 750 Brookhaven, New York, GO, +, 4.30%, 06/01/00 751 2,906 Brookhaven, New York, IDA, IDR, Waverly Association LLC, Rev., FRDO, 4.00%, 03/03/00 2,906 2,000 Brookhaven-Comsewogue, New York, Union Free School District, GO, TAN, 4.25%, 06/30/00 2,003 850 Broome County, New York, IDA, IDR, Binghamton Realty Project, Rev., FRDO, 3.80%, 03/02/00 850 7,000 Buffalo, New York, Ser. A, GO, BAN, 5.50%, 11/15/00 7,041 3,600 Camden, New York, Central School District, GO, RAN, 4.00%, 06/30/00 3,604 1,300 Chautauqua Lake, New York, Central School District, GO, +, 5.13%, 06/15/00 1,304 445 Cheektowaga-Maryvale, New York, Union Free School District, GO, + 4.90%, 06/15/00 447 1,750 Chenango Forks, New York, Central School District, GO, BAN, 4.25%, 09/08/00 1,754 2,600 Chittenango, New York, Central School District, GO, RAN, 4.00%, 06/30/00 2,603
See notes to financial statements. 43 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Municipal Securities -- Continued ---------------------------------------------------------------------------------- New York -- Continued $ 288 Clarkstown, New York, Central School District, GO, +,6.00%, 04/01/00 $ 289 2,250 Cobleskill-Richmondville, New York, Central School District, GO, BAN, 4.25%, 06/15/00 2,253 2,000 Commack, New York, Union Free School District, GO, TAN, 4.25%, 06/29/00 2,004 445 Connetquot Central School District, Islip, New York, GO, +, 4.90%, 06/15/00 447 2,000 Corning, New York, Community College, Rev., RAN, 4.25%, 08/18/00 2,005 850 Corning, New York, GO, +, 4.70%, 09/01/00 854 1,700 Cortland, New York, City School District, GO, +, 4.40%, 06/15/00 1,702 400 Dalton-Nunda, New York, Central School District, GO, +, 5.25%, 06/15/00 402 10,000 Dansville, New York, Central School District, GO, BAN, 3.25%, 03/16/00 10,001 Dutchess County, New York, IDA, 7,500 Civic Facility, Marist College, Ser. A, Rev., FRDO, 3.70%, 03/06/00 7,500 2,580 IDR, Laerdal Medical Corp. Project, Rev., FRDO, 4.00%, 03/01/00 2,580 1,130 Dutchess County, New York, Resource Recovery Agency, Solid Waste Systems, Ser. A, Rev., +, 4.45%, 01/01/01 1,132 Eagle Tax Exempt Trust, Weekly Option Mode, 10,000 Ser. 94-3203, Class A, FRDO, #, 4.00%, 03/02/00 10,000 8,805 Ser. 94-3205, Class A, FRDO, #, 4.00%, 03/02/00 8,805 9,910 Ser. 94-3208, Class A, FRDO, #, 4.00%, 03/01/00 9,910 20,880 Ser. 95-3202, Class A, FRDO, #, 4.00%, 03/07/00 20,880 18,900 Ser. 95-3203, Class A, FRDO, #, 4.00%, 03/05/00 18,900 6,755 Ser. 96-3207, Class A, FRDO, #, 3.82%, 03/06/00 6,755 11,000 Ser. 96C-3203, Class A, FRDO, #, 4.00%, 03/07/00 11,000 14,850 Ser. 96C-3208, Class A, FRDO, #, 4.00%, 03/07/00 14,850 9,300 East Greenbush, New York, Central School District, GO, BAN, 3.75%, 06/28/00 9,309 16,000 East Islip, New York, New York, Union Free School District, GO, TAN, 3.85%, 06/26/00 16,021 170 East Meadow, New York, Union Free School District, GO, +, 4.90%, 06/15/00 171 1,500 East Quogue, New York, Union Free School District, GO, TAN, 4.25%, 06/29/00 1,502 5,400 Elmira City, New York, School District, GO, BAN, 4.00%, 07/21/00 5,407 2,000 Elmont, New York, Union Free School District, GO, TAN, 4.00%, 06/29/00 1,997 Erie County, New York, Water Authority, 2,700 Ser. A, Rev., FRDO, +, 3.65%, 03/07/00 2,700 400 Ser. B, Rev., FRDO, +, 3.65%, 03/07/00 400 478 Fayetteville-Manlius, New York, Central School District, GO, +, 4.70%, 06/15/00 480 2,085 Fort Edward, New York, Union Free School District, GO, BAN, 3.75%, 06/23/00 2,088 4,000 Fredonia, New York, Central School District, GO, BAN, 4.75%, 02/08/01 4,018
See notes to financial statements. 44 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ----------------------------------------------------------------------------------- Municipal Securities -- Continued ----------------------------------------------------------------------------------- New York -- Continued Freeport, New York, BAN, $ 2,490 3.75%, 03/02/00 $2,490 9,347 Ser. B, 3.88%, 06/15/00 9,358 375 Garden City, New York, GO, 4.00%, 05/01/00 375 365 Geneva, New York, GO, +, 4.40%, 05/15/00 366 4,900 Glens Falls, New York, City School District, GO, RAN, 3.75%, 06/30/00 4,904 725 Glens Falls, New York, IDA, IDR, Broad Street Center Project, Rev., FRDO, 3.85%, 03/07/00 725 4,210 Great Neck North, New York, Water Authority, Water System, Ser. A, Rev., FRDO, +, 3.75%, 03/06/00 4,210 1,200 Greenwich, New York, Central School District, GO, 5.30%, 06/15/00 1,203 300 Guilderland, New York, IDA, IDR, Northeastern Industrial Park, Ser. A, Rev., FRDO, 3.80%, 03/06/00 300 575 Harrison, New York, Central School District, GO, +, 6.50%, 03/15/00 576 2,000 Hempstead, New York, IDA, IDR, Trigen-Nassau Energy, Rev., FRDO, 3.80%, 03/06/00 2,000 Hempstead, New York, Union Free School District, GO, TAN, 17,300 3.75%, 06/29/00 17,310 4,000 4.00%, 06/29/00 3,994 1,850 Heuvelton, New York, Central School District, GO, +, 4.70%, 06/15/00 1,855 4,900 Homer, New York, Central School District, GO, RAN, 4.00%, 06/29/00 4,905 2,300 Hoosick Valley, New York, Central School District, GO, BAN, 4.13%, 08/25/00 2,303 300 Horseheads, New York, Central School District, GO, +, 5.00%, 06/15/00 301 2,000 Islip, New York, IDA, Brentwood Distribution Co. Facility, Rev., FRDO, 3.85%, 03/01/00 2,000 1,166 Ithaca, New York, GO, BAN, 4.00%, 08/11/00 1,166 1,200 Johnson City, New York, GO, BAN, 3.75%, 05/30/00 1,201 6,000 Levittown, New York, Union Free School District, GO, TAN, 3.75%, 06/21/00 6,006 800 Lewis County, New York, IDA, IDR, Climax Manufacturing Co. Project, Rev., FRDO, 3.90%, 03/01/00 800 250 Liverpool, New York, Central School District, GO, +, 7.75%, 07/15/00 254 Long Island Power Authority, New York, Electric Systems, 8,780 Floating Rate Receipts, Ser. SG-125, Rev., FRDO, 3.98%, 03/01/00 8,780 6,900 FLOATS, Ser. PA-368, Rev., FRDO, 4.12%, 03/07/00 6,900 5,000 FLOATS, Ser. PA-420, Rev., FRDO, 3.98%, 03/07/00 5,000 10,200 Sub. Ser. 5, Rev., FRDO, 3.75%, 03/01/00 10,200 1,200 Sub. Ser. 6, Rev., FRDO, 3.70%, 03/01/00 1,200 1,100 Sub. Ser. 7, Sub. Ser. 7-A, Rev., FRDO, +, 3.82%, 03/06/00 1,100 26,200 Sub. Ser. 7, Sub. Ser. 7-B, Rev., FRDO, +, 3.80%, 03/06/00 26,200
See notes to financial statements. 45 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value -------------------------------------------------------------------------------------- Municipal Securities -- Continued -------------------------------------------------------------------------------------- New York -- Continued $ 21,500 Longwood Central School District, Suffolk County, New York, GO, TAN, 4.00%, 06/30/00 $21,524 2,575 Mahopac, New York, Central School District, Ser. A, GO, BAN, 4.00%, 03/01/00 2,575 560 Mattituck-Cutchogue, New York, Union Free School District, GO, +, 4.90%, 06/15/00 562 Mayfield, New York, Central School District, GO, BAN, 4,195 3.75%, 06/28/00 4,200 6,800 4.25%, 06/28/00 6,809 Metropolitan Transportation Authority, New York, 3,000 Municipal Securities Trust Receipts, Ser. SAK-4, Rev., FRDO, +, 4.07%, 03/06/00 3,000 3,985 Municipal Securities Trust Receipts, Ser. SGA-82, Rev., FRDO, +, 3.95%, 03/04/00 3,985 2,800 Service Contract, Commuter Facilities, Ser. 3, Rev., ~, 7.50%, 07/01/00 2,888 13,700 Transportation Facilities, Rev., 3.60%, 05/05/00 13,700 2,800 Transportation Facilities, Rev., 3.60%, 06/01/00 2,800 4,237 Mexico, New York, Central School District, GO, RAN, 4.00%, 06/21/00 4,241 325 Middle Country, Central School District, New York, Centerreach, GO, +, 5.00%, 06/15/00 326 4,695 Middletown, New York, GO, BAN, 4.00%, 09/01/00 4,700 2,228 Milford, New York, Central School District, GO, BAN, 4.25%, 09/28/00 2,234 Monroe County, New York, IDA, 3,050 Columbia Sussex, Rev., FRDO, 5.00%, 03/06/00 3,050 1,600 Public Improvements, Canal Ponds Park, Ser. D, Rev., FRDO, 3.90%, 03/03/00 1,600 Municipal Assistance Corp. for New York City, 1,000 Ser. D, Rev., +, 6.00%, 07/01/00 1,007 10,000 Ser. J, Rev., 5.50%, 07/01/00 10,051 1,095 Ser. M, Rev., 4.00%, 07/01/00 1,096 2,000 Ser. M, Rev., 5.00%, 07/01/00 2,010 21,835 Municipal Securities Trust Certificates, Ser. 1998-66, Class A, Rev., FRDO, +, #, 3.15%, 03/01/00 21,835 Nassau County, New York, IDA, 2,945 Civic Facility, St. Mary's Children Project, Rev., FRDO, 3.95%, 03/03/00 2,945 4,000 Civic Facility, Winthrop, University Hospital Association Project, Rev., FRDO, 3.75%, 03/01/00 4,000 Nassau County, New York, TAN, 8,000 Ser. A, 4.85%, 04/28/00 8,012 7,200 Ser. B, 4.75%, 08/31/00 7,226 260 New Castle, New York, Public Improvement, GO, 6.00%, 05/15/00 261 New York City, New York, 7,500 FLOATS, Ser. PA-442, GO, FRDO, 3.98%, 03/05/00 7,500 34,000 FLOATS, Ser. PT-1038, GO, FRDO, 3.98%, 03/04/00 34,000 9,000 Municipal Securities Trust Receipts, Ser. SAK-1, GO, FRDO, 4.07%, 03/02/00 9,000 5,000 Municipal Securities Trust Receipts, Ser. SAK-2, GO, FRDO, +, 4.07%, 03/02/00 5,000
See notes to financial statements. 46 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Municipal Securities -- Continued ---------------------------------------------------------------------------------- New York -- Continued New York City, New York (continued) $ 3,605 Municipal Securities Trust Receipts, Ser. SGA-63, GO, FRDO, +, 3.90%, 03/01/00 $3,606 800 Municipal Securities Trust Receipts, Ser. SGB-33, GO, FRDO, +, 3.93%, 03/06/00 800 13,200 Municipal Securities Trust Receipts, Ser. SGB-35, GO, FRDO, +, 3.90%, 03/07/00 13,200 10,365 Municipal Securities Trust Receipts, Ser. SGB-36, GO, FRDO, +, 3.90%, 03/07/00 10,365 7,000 Ser. A-51, GO, FRDO, 4.05%, 04/14/00 7,000 2,000 Ser. B, Sub. Ser. B-2, GO, FRDO, +, 3.80%, 03/01/00 2,000 700 Ser. B, Sub. Ser. B-4, GO, FRDO, +, 3.80%, 03/01/00 700 1,100 Ser. B, Sub. Ser. B-8, GO, FRDO, 3.75%, 03/02/00 1,100 6,000 Ser. D, GO, FRDO, +, 3.65%, 03/01/00 6,000 1,000 Ser. F-3, GO, FRDO, 3.80%, 03/04/00 1,000 6,350 Ser. F-5, GO, FRDO, 3.75%, 03/04/00 6,350 2,700 Ser. J, Sub. Ser. J-2, GO, FRDO, 3.80%, 03/07/00 2,700 200 Sub. Ser. A-5, GO, FRDO, 3.80%, 03/01/00 200 6,900 Sub. Ser. A-7, GO, FRDO, 3.80%, 03/01/00 6,900 500 Sub. Ser. A-8, GO, FRDO, 3.80%, 03/01/00 500 3,900 Sub. Ser. E-2, GO, FRDO, 3.80%, 03/01/00 3,900 5,700 Sub. Ser. E-5, GO, FRDO, 3.80%, 03/01/00 5,700 3,700 Sub. Ser. E-6, GO, FRDO, +, 3.80%, 03/01/00 3,700 14,490 New York City, New York, Health & Hospital Corp., Health Systems, Ser. F, Rev., FRDO, 3.75%, 03/06/00 14,490 New York City, New York, Housing Development Corp., 3,800 Multi-Family Housing, 2nd Avenue, Ser. A, Rev., FRDO, 3.80%, 03/06/00 3,800 2,100 Multi-Family Housing, Columbus Apartments, Ser. A, Rev., FRDO, 3.65%, 03/02/00 2,100 3,370 Multi-Family Housing, Columbus Apartments, Ser. A, Rev., FRDO, 3.70%, 03/06/00 3,370 8,700 Multi-Family Housing, James Tower Development, Ser. A, Rev., FRDO, 3.75%, 03/06/00 8,700 2,900 Multi-Family Housing, Spring Creek III Project, Ser. A, Rev., FRDO, 3.80%, 03/06/00 2,900 1,300 Multi-Family Housing, Sullivan Street Project, Ser. A, Rev., FRDO, 3.80%, 03/06/00 1,300 3,400 Multi-Family Rental Housing, 100 Jane Street Development, Ser. A, Rev., FRDO, 3.80%, 03/02/00 3,400 41,300 Multi-Family Rental Housing, Monterey, Ser. A, Rev., FRDO, 3.75%, 03/06/00 41,299 6,000 Multi-Family Rental Housing, Parkgate Development, Ser. A, Rev., FRDO, 3.60%, 03/02/00 6,000 New York City, New York, IDA, 3,000 Civic Facility, Calhoun School Inc. Project, Rev., FRDO, 3.85%, 03/02/00 3,000 3,600 IDR, DXB Videotape Inc. Project, Rev., FRDO, 3.80%, 03/01/00 3,600 500 IDR, Rev., FRDO, 3.80%, 03/01/00 500 150 IDR, Ser. D, Rev., FRDO, 3.80%, 03/01/00 150 1,500 IDR, Ser. K, Rev., FRDO, 3.80%, 03/01/00 1,500
See notes to financial statements. 47 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value --------------------------------------------------------------------------------- Municipal Securities -- Continued --------------------------------------------------------------------------------- New York -- Continued New York City, New York, Municipal Water Finance Authority, Water & Sewer Systems, $ 3,000 FLOATS, Ser. PT-1032, Rev., FRDO, 3.98%, 03/06/00 $3,000 9,685 Municipal Securities Trust Receipts, Ser. SGA-12, Rev., FRDO, 3.90%, 03/01/00 9,685 7,255 Municipal Securities Trust Receipts, Ser. SGA-13, Rev., FRDO, 3.90%, 03/02/00 7,255 2,390 Municipal Securities Trust Receipts, Ser. SGB-25, Rev., FRDO, +, 3.93%, 03/07/00 2,390 28,200 Municipal Securities Trust Receipts, Ser. SGB-26, Rev., FRDO, +, 3.93%, 03/05/00 28,200 11,000 Municipal Securities Trust Receipts, Ser. SGB-27, Rev., FRDO, +, 3.93%, 03/06/00 11,011 7,500 Rev., 3.85%, 04/27/00 7,500 500 Ser. A, Rev., +, ~, 7.25%, 06/15/00 513 3,415 Ser. A, Rev., +, ~, 7.50%, 06/15/00 3,500 8,000 Ser. C, Rev., FRDO, +, 3.80%, 03/01/00 8,000 2,100 Ser. G, Rev., FRDO, +, 3.75%, 03/01/00 2,100 New York City, New York, Transitional Finance Authority, 40,100 Future Tax Secured, Ser. A-2, Rev., FRDO, 3.75%, 03/06/00 40,100 3,450 Municipal Securities Trust Receipts, Ser. SGA-74, Rev., FRDO, 3.90%, 03/01/00 3,450 3,000 Ser. A-46, Rev., FRDO, 4.05%, 03/01/00 3,000 3,000 Ser, A-48, Rev., FRDO, 4.05%, 03/01/00 3,000 New York City, New York, Trust Cultural Resources, 3,800 American Museum of Natural History, Ser. B, Rev., FRDO, +, 3.65%, 03/01/00 3,800 2,672 Carnegie Hall, Rev., FRDO, 3.70%, 03/06/00 2,672 1,300 Soloman R. Guggenheim, Ser. B, GO, FRDO, 3.70%, 03/01/00 1,300 New York State, 15,000 GO, 3.60%, 05/04/00 15,000 4,300 Environmental Quality, Ser. G, GO, FRDO, 3.90%, 10/05/00 4,300 New York State, Dorm Authority, 2,500 City University Systems, Ser. F, Rev., +, ~, 7.50%, 07/01/00 2,577 9,645 FLOATS, Ser. PA-409, Rev., FRDO, 3.98%, 03/06/00 9,645 4,870 FLOATS, Ser. PA-419, Rev., FRDO, 3.98%, 03/06/00 4,870 8,425 FLOATS, Ser. PA-428, Rev., FRDO, 3.98%, 03/05/00 8,425 3,545 FLOATS, Ser. PA-449, Rev., FRDO, 3.98%, 03/03/00 3,545 990 FLOATS, Ser. PT-130, Rev., FRDO, 3.98%, 03/05/00 990 2,400 FLOATS, Ser. PT-1067, Rev., FRDO, 3.98%, 03/02/00 2,400 1,115 Good Samaritan Hospital Medical Center, Ser. A, Rev., +, 3.75%, 07/01/00 1,115 1,800 Manhattanville College, Rev., +, ~, 7.50%, 07/01/00 1,855 2,865 Municipal Securities Trust Receipts, Ser. SAK-17, Rev., FRDO, 4.07%, 03/01/00 2,865 4,800 New York Public Library, Ser. A, Rev., FRDO, +, 3.75%, 03/07/00 4,800 11,100 Oxford University Press Inc., Rev., FRDO, 3.80%, 03/01/00 11,100 5,500 Ser. A-55, Rev., FRDO, 4.05%, 03/04/00 5,500
See notes to financial statements. 48 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------------------ Municipal Securities -- Continued ------------------------------------------------------------------------------------------------ New York -- Continued New York State, Dorm Authority (continued) $ 860 St. Francis Hospital, Ser. A, Rev., +, 3.75%, 07/01/00 $ 860 9,380 State University Educational Facilities, Rev., 7.00%, 05/15/00 9,683 2,250 State University Educational Facilities, Ser. A, Rev., ~, 6.50%, 05/15/00 2,265 3,425 State University Educational Facilities, Ser. A, Rev., ~, 7.63%, 05/15/00 3,523 8,800 State University Educational Facilities, Ser. A, Rev., ~, 7.70%, 05/15/00 9,041 3,175 State University Educational Facilities, Ser. B, Rev., +, ~, 7.25%, 05/15/00 3,258 3,660 State University Educational Facilities, Ser. B, Rev., ~, 7.25%, 05/15/00 3,756 New York State, Energy Research & Development Authority, 6,600 Facilities, Con Edison Co., Sub. Ser. A-1, Rev., FRDO, 3.85%, 03/01/00 6,600 5,600 Facilities, FLOATS, Ser. PA-411, Rev., FRDO, 3.98%, 03/06/00 5,600 5,260 PCR, New York State Electric & Gas, Annual Tender, Rev., FRDO, 3.00%, 03/15/00 5,256 600 PCR, New York State Electric & Gas, Ser. B, Rev., FRDO, 3.80%, 03/01/00 600 6,700 PCR, New York State Electric & Gas, Ser. D. Rev., FRDO, 3.65%, 03/01/00 6,700 4,560 PCR, Niagara Mohawk Power Corp. Project, Ser. A, Rev., FRDO, 3.75%, 03/01/00 4,560 2,100 PCR, Niagara Mohawk Power Corp. Project, Ser. A, Rev., FRDO, 3.90%, 03/01/00 2,100 5,800 PCR, Orange & Rockland Utilities Project, Ser. A, Rev., FRDO, +, 3.65%, 03/03/00 5,800 6,100 PCR, Orange & Rockland Utilities Project, Ser. A, Rev., FRDO, +, 3.65%, 03/06/00 6,100 3,000 PCR, Rochester Gas & Electric Corp., Ser. B, Rev., FRDO, +, 3.80%, 03/07/00 3,000 1,200 New York State, Environmental Facilities Corp., OFS Equity Huntington Project, Rev., FRDO, 3.90%, 03/01/00 1,200 New York State, Housing Finance Agency, 21,150 101 West End Ave. Housing, Ser. A, Rev., FRDO, 3.85%, 03/02/00 21,150 21,100 101 West End Ave. Housing, Ser. A, Rev., FRDO, 3.85%, 03/06/00 21,100 15,000 150 East 44th Street Housing, Ser. A, Rev., FRDO, 3.85%, 03/07/00 15,000 14,400 345 East 94th Street Housing, Ser. A, Rev., FRDO, 3.85%, 03/06/00 14,400 4,900 70 Battery Place Housing, Ser. A, Rev., FRDO, 3.80%,03/06/00 4,900 20,000 750 Sixth Ave. Housing Ser. A, Rev., FRDO, 3.80%, 03/02/00 20,000 9,500 750 Sixth Ave. Housing Ser. A, Rev., FRDO, 3.80%, 03/06/00 9,500
See notes to financial statements. 49 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Municipal Securities -- Continued ------------------------------------------------------------------------------------- New York -- Continued New York State, Housing Finance Agency (continued) $ 25,400 East 39th Street Housing, Ser. A, Rev., FRDO, 2.80%, 03/01/00 $25,400 2,495 FLOATS, Ser. PA-143, Rev., FRDO, 4.12%, 03/04/00 2,495 3,300 Multi-Family Housing, Ser. A, Rev., FRDO, +, 3.90%, 03/07/00 3,300 5,100 Residential, Ser. A, Rev., FRDO, +, 3.90%, 03/01/00 5,100 6,800 Ser. A, Rev., FRDO, 3.75%, 03/01/00 6,800 9,200 Ser. A, Rev., FRDO, 3.80%, 03/01/00 9,200 5,300 Service Contract Obligation, Ser. A, Rev., FRDO, Rev., 3.70%, 03/02/00 5,300 20,900 Tribeca, Ser. A, Rev., FRDO, 3.75%, 03/07/00 20,900 26,800 Union Square South Housing, Rev., FRDO, 3.70%, 03/02/00 26,800 New York State, Job Development Authority, State Guaranteed, 6,995 Ser. A-1 through A-42, Rev., FRDO, 3.75%, 03/01/00 6,995 8,575 Ser. B-1 through B-21, Rev., FRDO, 3.75%, 03/01/00 8,575 2,230 Special Purpose, Ser. A-1 through A-13, Rev., FRDO, 3.75%, 03/01/00 2,230 4,400 Special Purpose, Ser. A-1 through A-25, Rev., FRDO, 3.85%, 03/01/00 4,400 530 Special Purpose, Ser. B-1 through B-2, Rev., FRDO, 3.85%, 03/01/00 530 New York State, Local Government Assistance Corp., 5,800 Floating Rate Receipts, Ser. SG-99, Rev., FRDO, 3.98%, 03/01/00 5,801 16,200 FLOATS, Ser. PT-1040, Rev., FRDO, 3.98%, 03/02/00 16,200 700 Municipal Securities Trust Receipts, Ser. SGA-59, Rev., FRDO, 3.90%, 03/01/00 700 12,085 Ser. A, Rev., ~, 7.25%, 03/01/00 12,704 36,585 Ser. A, Rev., FRDO, 3.70%, 03/06/00 36,584 7,900 Ser. B, Rev., ~, 7.50%, 03/01/00 8,326 3,500 Ser. B, Rev., FRDO, 3.75%, 03/03/00 3,500 11,500 Ser. D, Rev., FRDO, 3.70%, 03/07/00 11,500 4,700 Ser. E, Rev., FRDO, 3.70%, 03/07/00 4,700 New York State, Medical Care Facilities Finance Agency, 8,200 FLOATS, Ser. PA-113, Rev., FRDO, 3.98%, 03/02/00 8,200 14,235 FLOATS, Ser. PT-100, Rev., FRDO, 3.98%, 03/03/00 14,235 6,065 FLOATS, Ser. PT-109, Rev., FRDO, 3.98%, 03/03/00 6,065 8,355 FLOATS, Ser. PT-145A, Rev., FRDO, 3.98%, 03/05/00 8,355 2,265 Municipal Securities Trust Receipts, Ser. SG-1, Rev., FRDO, 3.98%, 03/06/00 2,265 3,625 North Shore University Hospital, Rev., +, ~, 7.20%, 11/01/00 3,772 New York State, Mortgage Agency, 5,250 FLOATS, Ser. PT-260, Rev., FRDO, 2.90%, 03/02/00 5,250 9,995 FLOATS, Ser. PT-289, Rev., FRDO, 3.98%, 03/02/00 9,995 8,190 FLOATS, Ser. PT-322, Rev., FRDO, 4.30%, 03/02/00 8,190 6,925 FLOATS, Ser. PT-1190, Rev., FRDO, 3.98%, 03/02/00 6,925 1,130 Homeowner Mortgage, Ser. 79, Rev., 3.25%, 04/01/00 1,130 100 Homeowner Mortgage, Ser. 87, Rev., 3.70%, 04/01/00 100 200 Homeowner Mortgage, Ser. 87, Rev., 3.80%, 10/01/00 200
See notes to financial statements. 50 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Municipal Securities -- Continued ------------------------------------------------------------------------------------- New York -- Continued New York State, Power Authority, $ 10,000 Rev., 3.80%, 06/06/00 $10,000 2,900 Revenue & General Purpose, Ser. Y, Rev., ~, 6.75%, 01/01/01 3,017 New York State, Thruway Authority, 16,600 Floating Rate Receipts, Ser. SGA-119, FRDO, 3.70%, 03/01/00 16,600 21,415 FLOATS, Ser. PA-532, Rev., FRDO, 3.98%, 03/02/00 21,415 2,375 Highway & Bridge Trust Fund, Ser. A, Rev., +, 6.00%, 04/01/00 2,381 1,015 Municipal Securities Trust Receipts, Ser. SGA-66, Rev., FRDO, 3.90%, 03/03/00 1,015 4,600 Service Contract, Local Highway & Bridge, Rev., ~, 6.00%, 01/01/01 4,669 3,900 New York State, Urban Development Corp., FLOATS, Ser. PA-429, Rev., FRDO, 3.98%, 03/03/00 3,902 2,400 Niagara County, New York, GO, BAN, 3.60%, 06/30/00 2,401 Niagara County, New York, IDA, Solid Waste Disposal, 1,000 American Refunding, Fuel Co., Ser. A, Rev., FRDO, 3.80%, 03/03/00 1,000 1,000 American Refunding, Fuel Co., Ser. B, Rev., FRDO, 3.90%, 03/03/00 1,000 Niagara Falls, New York, Bridge Commission, 4,995 FLOATS, Ser. PA-530, Rev., FRDO, 3.98%, 03/03/00 4,995 9,500 Ser. A, Rev., FRDO, 3.65%, 03/03/00 9,500 North Babylon, New York, Union Free School District, 3,000 GO, BAN, 4.00%, 07/06/00 2,995 13,500 GO, TAN, 4.00%, 06/29/00 13,511 North Hempstead, New York, 1,270 GO, BAN, 4.50%, 07/27/00 1,273 1,245 Ser. B, GO, 6.50%, 07/15/00 1,257 4,220 North Rose-Wolcott, New York, Central School District, GO, BAN, 3.40%, 04/06/00 4,221 3,000 NorthPort-East Northport, New York, Union Free School District, GO, BAN, 4.25%, 06/02/00 3,004 12,000 Oceanside, New York, Union Free School District, GO, TAN, 4.00%, 06/27/00 11,996 5,000 Ogdensburg, New York, Enlarged City School District, GO, RAN, 4.00%, 06/30/00 5,004 623 Orchard Park, New York, Central School District, Go, +, 4.35%, 06/01/00 625 200 Palmyra, New York, Public Improvements, GO, +, 4.30%, 05/15/00 200 4,400 Patchogue-Medford, New York, Union Free School District, GO, TAN, 4.25%, 06/28/00 4,408 395 Pavilion, New York, Central School District, GO, +, 5.10%, 06/15/00 397 Port Authority of New York & New Jersey, 3,180 Consolidated Bonds 117th Series, 1st Installment, Rev., 4.00%, 11/15/00 3,180 2,950 Equipment Notes, Ser. 3, Rev., FRDO, 4.05%, 03/01/00 2,950 3,405 FLOATS, Ser. PA-518, Rev., FRDO, 3.81%, 03/01/00 3,405 1,365 Port Jervis, New York, IDA, The Future Home Tech Inc., Rev., FRDO, 4.00%, 03/01/00 1,365
See notes to financial statements. 51 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Municipal Securities -- Continued ------------------------------------------------------------------------------------- New York -- Continued $ 9,390 Putnam Valley, New York, Central School District, GO, BAN, 3.25%, 03/03/00 $9,390 5,000 Rochester, New York, Ser. I, GO, BAN, 3.50%, 03/08/00 5,000 1,330 Rockland County, New York, GO, 4.00%, 05/01/00 1,332 Rockland County, New York, IDA, 800 IDR, X Products Corp. Project, Rev., FRDO, 3.90%, 03/07/00 800 2,290 Shock Technical Inc. Project, Rev., FRDO, 3.90%, 03/01/00 2,290 410 Rotterdam, New York, Public Improvements, GO, +, 411 1,530 Sandy Creek, New York, Central School District, GO, BAN, 4.00%, 07/14/00 1,532 325 Silver Creek, New York, Central School District, 1999 Ser., GO, +, 4.70%, 06/15/00 326 4,000 South Orangetown, New York, Central School District, GO, TAN, 3.75%, 06/30/00 4,002 1,805 Southeast Town, New York, GO, BAN, 3.50%, 03/24/00 1,805 2,250 Spencer Van Etten, New York, Central School District, GO, RAN, 4.00%, 07/06/00 2,253 500 St. Lawrence County, New York, IDA, PCR, Reynolds Metals, Rev., FRDO, 3.80%, 03/01/00 500 Suffolk County, New York, 2,445 Public Improvement, Ser. A, GO, +, 4.80%, 08/15/00 2,454 1,000 Ser. B, GO, +, ~, 6.90%, 04/01/00 1,023 5,500 Ser. I, GO, TAN, 4.50%, 08/10/00 5,512 2,400 Suffolk County, New York, Water Authority, BAN, FRDO, 3.75%, 03/01/00 2,400 584 Sullivan County, New York, Ser. B, GO, BAN, 3.50%, 03/17/00 584 Tompkins-Seneca-Tioga, New York, Board of Cooperative Educational Services, 5,500 GO, RAN, 4.25%, 06/30/00 5,508 6,000 GO, RAN, 4.75%, 06/30/00 6,009 Triborough Bridge & Tunnel Authority, New York, 1,475 FLOATS, Ser. PA-200, Rev., FRDO, 3.98%, 03/02/00 1,475 6,500 General Purpose, Ser. C, Rev., FRDO, +, 3.80%, 03/04/00 6,500 3,900 Tully, New York, Central School District, GO, RAN, 3.85%, 06/29/00 3,904 3,300 Tupper Lake, New York, Central School District, GO, BAN, 5.00%, 02/23/01 3,319 2,800 Walton, New York, Central School District, GO, RAN, 4.00%, 06/30/00 2,803 Waverly, New York, Central School District, 350 GO, +, 4.80%, 06/15/00 351 5,000 GO, RAN, 3.75%, 06/23/00 5,003 4,000 Wayne-Finger Lakes, New York, Board of Cooperative Educational Services, RAN, 4.00%, 06/29/00 4,005 8,415 Webb, New York, Union Free School District, GO, BAN, 3.63%, 06/16/00 8,423 4,150 Westchester County, New York, IDA, Civic Facility, Northern Westchester Hospital, Rev., FRDO, 3.70%, 03/01/00 4,150
See notes to financial statements. 52 CHASE VISTA NEW YORK TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ------------------------------------------------------------------------------------- Municipal Securities -- Continued ------------------------------------------------------------------------------------- New York -- Continued $ 4,340 William Floyd, Union Free School District, Mastics- Moriches-Shirley, GO, TAN, 4.00%, 06/30/00 $ 4,346 Yonkers, New York, IDA, Civic Facility, 2,000 Consumers Union Facility, Rev., FRDO, 3.75%, 03/01/00 2,000 8,100 Sarah Lawrence College Project, Rev., FRDO, +, 3.75%, 03/01/00 8,100 ---------- 1,720,260 Puerto Rico -- 0.1% 1,000 Puerto Rico Commonwealth, Highway & Transportation Authority, FLOATS, Ser. PA-472, Rev., FRDO, 3.11%, 03/02/00 1,000 ------------------------------------------------------------------------------------ Total Investments -- 100.5% $1,730,860 (Cost $1,730,860)* ------------------------------------------------------------------------------------
See notes to financial statements. 53 -------------------------------------------------------------------------------- CHASE VISTA CALIFORNIA TAX FREE MONEY MARKET FUND Portfolio of Investments -------------------------------------------------------------------------------- As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value --------------------------------------------------------------------------------------- Municipal Securities -- 101.5% --------------------------------------------------------------------------------------- California -- 94.0% $ 1,000 ABAG Finance Authority for Nonprofit Corporations, California, Episcopal Homes Foundation, COP, FRDO, 2.30%, 03/01/00 $1,000 500 Alameda County, California, Multi-Family Housing, Quail, Ser. A, Rev., FRDO, 2.35%, 03/04/00 500 Alameda-Contra Costa, California, Schools Financing Authority, 300 Capital Improvements Financing Projects, COP, Rev., FRDO, 2.30%, 03/07/00 300 500 Capital Improvements Financing Projects, COP, Ser. A, Rev., FRDO, 2.30%, 03/06/00 500 835 California Educational Facilities Authority, University of Southern California, Ser. A, Rev., 5.60%, 10/01/00 844 California Housing Finance Agency, 960 FLOATS, Ser. PA-112-A, Rev., FRDO, 3.16%, 03/03/00 960 500 Home Mortgage, Ser. E-1, Rev., 5.40%, 08/01/00 503 1,000 Multi-Unit Rental Housing, Ser. A, Rev., FRDO, 3.75%, 03/06/00 1,001 California State, 1,495 FLOATS, Ser. PA-464, GO, FRDO, 3.55%, 03/07/00 1,495 800 FLOATS, Ser. PT-1070, GO, FRDO, 3.11%, 03/06/00 800 900 FLOATS, Ser. PT-1072, GO, FRDO, 3.11%, 03/06/00 900 2,000 Municipal Securities Trust Receipts, Ser. SGA-40, GO, FRDO, +, 3.02%, 03/06/00 2,000 2,800 Municipal Securities Trust Receipts, Ser. SGA-55, GO, FRDO, +, 3.02%, 03/07/00 2,799 375 California State, Department Water Resources Center, Valley Project, Ser. I, Rev., ~, 6.60%, 06/01/00 384 California State, Economic Development Financing Authority, IDR, 2,000 Provena Foods Inc. Project, Rev., FRDO, 2.70%, 03/06/00 2,000 1,780 Standard Abrasives Manufacturing Project, Rev., FRDO, 2.65%, 03/01/00 1,780 400 Volk Enterprises Inc. Project, Rev., FRDO, 2.45%, 03/06/00 400 California Statewide Communities Development Authority, 605 Industrial Development, Florestone, Rev., FRDO, 2.60%, 03/07/00 605 1,000 Ser. A-1, Rev., TRAN, +, 4.00%, 06/30/00 1,003 1,800 Sutter Health Obligation Group, COP, FRDO, +, 3.25%, 03/01/00 1,800 1,000 Central Valley Schools Financing Authority, California, Ser. A-45, FRDO, 2.45%, 03/03/00 1,000 245 Coachella Valley, California, County Water District, Improvement District No. 55, GO, +, 4.25%, 08/01/00 246 1,000 Elsinore Valley, California, Municipal Water District, Ser. A, COP, FRDO, +, 2.40%, 03/01/00 1,000 100 Fremont, California, Multi-Family Housing, Durham Greens Project, Ser. A, Rev., 4.70%, 07/01/00 100
See notes to financial statements. 54 CHASE VISTA CALIFORNIA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value -------------------------------------------------------------------------------------- Municipal Securities -- Continued -------------------------------------------------------------------------------------- California -- Continued Irvine Ranch, California, Water District, $ 3,800 Capital Improvement Project, COP, FRDO, 3.05%, 03/01/00 $3,799 400 Consolidated Bonds, Rev., FRDO, 3.25%, 03/01/00 400 500 District No. 102, 103, 105 & 106, Rev., FRDO, 3.25%, 03/01/00 500 800 District No. 105, 140, 240 & 250, GO, FRDO, 3.05%, 03/01/00 800 500 District No. 105, 140, 240 & 250, Rev., FRDO, 3.25%, 03/01/00 500 Irvine, California, Improvement Bond Act of 1915, 2,495 Assessment District No. 89-10, Special Assessment, FRDO, 3.25%, 03/01/00 2,495 600 Assessment District No. 94-13, Special Assessment, FRDO, 3.25%, 03/01/00 600 400 Assessment District No. 95-12, Ser. A, Special Assessment, FRDO, 3.25%, 03/01/00 400 400 Assessment District No. 97-17, Special Assessment, FRDO, 3.25%, 03/01/00 400 400 Kern County, California, Kern Public Facilities Project, Ser. C, COP, FRDO, 2.40%, 03/01/00 400 300 Livermore, California, Multi-Family Housing, Park, Ser. A, Rev., FRDO, 2.35%, 03/04/00 300 2,650 Long Beach, California, Harbor, Rev., 7.15%, 05/15/00 2,670 500 Los Angeles County, California, GO, TRAN, 4.00%, 06/30/00 501 300 Los Angeles County, California, IDA, IDR, Hon Industries Inc. Project, Rev., FRDO, 2.35%, 03/02/00 300 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax, 100 Proposition C, Second Ser., Ser. A, Rev., FRDO, +, 2.40%, 03/04/00 100 250 Proposition C, Second Ser., Ser. B, Rev., +, 8.00%, 07/01/00 254 500 Los Angeles County, California, Pension Obligation, Ser. B, Rev., FRDO, +, 2.45%, 03/07/00 500 1,000 Los Angeles County, California, Public Works Financing Authority, Ser. A-62, Rev., FRDO, 2.45%, 03/01/00 1,000 400 Los Angeles, California, Community Redevelopment Agency, CMC Medical Plaza Partner, COP, FRDO, 2.60%, 03/04/00 400 700 M-S-R Public Power Agency, California, San Juan Project, Sub-Lien, Ser. E, Rev., FRDO, +, 2.40%, 03/07/00 700 Metropolitan Water District, Southern California, Waterworks, 200 Rev., 5.00%, 07/01/00 201 500 Ser. B, Rev., FRDO, 3.65%, 06/01/00 500 250 Milpitas, California, Unified School District, GO, +, 7.50%, 09/01/00 255 200 Modesto, California, Irrigation District Financing Authority, Ser. A, Rev., +, 4.70%, 10/01/00 201 1,000 Monrovia, California, Unified School District, Municipal Securities Trust Receipt, Ser. SGA-70, Rev., FRDO, +, 3.00%, 03/05/00 1,000
See notes to financial statements. 55 CHASE VISTA CALIFORNIA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Municipal Securities -- Continued ---------------------------------------------------------------------------------- California -- Continued $ 800 Monterey Peninsula, California, Water Management District, Wastewater Reclamation Project, COP, FRDO, 2.55%, 03/03/00 $ 800 500 National City, California, Community Development Commission, Tax Allocation, Downtown Redevelopment Project, Ser. A, +, ~, 5.90%, 08/01/00 504 100 Northern California Power Agency, Public Power, Geothermal Project No. 3, Ser. B, Rev., +, 5.50%, 07/01/00 101 600 Oakland, California, GO, TRAN, 4.25%, 09/29/00 602 1,700 Oakland, California, Joint Powers Financing Authority, Ser. A-2, Rev., FRDO, +, 2.40%, 03/06/00 1,700 100 Ontario, California, Redevelopment Agency, IDR, Safariland Project, Rev., FRDO, 2.30%, 03/03/00 100 500 Orange County, California, Sanitation Districts No. 1-3, 5-7, 11, 13 & 14, COP, FRDO, 3.25%, 03/01/00 500 1,005 Oxnard, California, Harbor District, Rev., +, 6.60%, 08/01/00 1,017 2,440 Oxnard, California, Industrial Development Financing Authority, IDR, Accurate Engineering Project, Rev., FRDO, 2.65%, 03/06/00 2,440 200 Pasadena, California, COP, ~, 6.75%, 08/01/00 207 700 Riverside County, California, IDA, IDR, Design Time Inc. Project, Ser. I, Rev., FRDO, 2.60%, 03/07/00 700 200 Riverside County, California, Public Financing Authority, Special Tax, Menifee Village Project, Senior Lien, Ser. A, Rev., +, 4.00%, 09/01/00 200 888 Riverside County, California, Riverside County Public Facilities, Ser. B, COP, FRDO, 2.75%, 03/02/00 888 250 Riverside County, California, Transportation Commission, Sales Tax, Ser. A, Rev., +, 5.00%, 06/01/00 251 330 Salinas, California, Elementary School District, COP, +, 4.25%, 06/01/00 331 550 San Bernardino County, California, Housing Authority, Multi-Family Housing, Victoria Terrace Project, Ser. A, Rev., FRDO, 2.50%, 03/06/00 550 San Bernardino County, California, IDA, 100 Aqua-Service, Rev., FRDO, 2.60%, 03/01/00 100 90 Master Halco Inc., Ser. II, Rev., FRDO, 2.55%, 03/03/00 90 155 San Bernardino County, California, Transportation Authority, Sales Tax, Ser. A, Rev., +, 5.00%, 03/01/00 155 215 San Bernardino, California, Joint Powers Financing Authority, Tax Allocation, +, 3.20%, 05/01/00 215 1,340 San Diego, California, Area Local Government, Ser. C, COP, TRAN, 4.50%, 09/29/00 1,346 300 San Diego, California, IDR, Kaiser Aerospace & Electric, Ser. A, Rev., FRDO, 2.65%, 03/06/00 300 San Diego, California, Unified School District, 100 Capital Projects, Phase XIII, Ser. A, COP, 5.00%, 07/01/00 100 250 Ser. A, GO, TRAN, 4.25%, 09/29/00 251 115 San Francisco, California, City & County, Parking Authority, Parking Meters, Ser. 1, Rev., +, 4.00%, 06/01/00 115
See notes to financial statements. 56 CHASE VISTA CALIFORNIA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ----------------------------------------------------------------------------------- Municipal Securities -- Continued ----------------------------------------------------------------------------------- California -- Continued $ 300 San Francisco, California, City & County, Redevelopment Agency, Multi-Family Housing, 3rd & Mission, Ser. C, Rev., FRDO, 2.45%, 03/01/00 $ 300 1,000 San Juan, California, Unified School District, Ser. A-41, Rev., FRDO, 2.45%, 03/03/00 1,000 250 Santa Barbara County, California, Ser. A, GO, TRAN, 4.25%, 09/29/00 251 625 Santa Clara County-El Camino, California, Hospital District, Hospital Facilities Authority, ACES, Lease, Valley Medical Center Project, Ser. B, Rev., FRDO, 2.30%, 03/03/00 625 Santa Clara, California, Electric, 195 Ser. B, Rev., FRDO, +, ~, 3.30%, 03/06/00 195 290 Ser. C, Rev., FRDO, +, ~, 3.30%, 08/02/00 290 260 Simi Valley, California, Public Financing Authority, Rev., +, 4.00%, 09/01/00 260 500 Solano County, California, Ser. B, GO, TRAN, 4.50%, 12/15/00 503 600 Southeast Resource Recovery Facilities Authority, California, Ser. A, Rev., FRDO, 2.30%, 03/03/00 600 600 Three Valleys Municipal Water District, California, Miramar Water Treatment, COP, FRDO, 2.70%, 03/01/00 600 425 Upland, California, Community Redevelopment Agency, Multi-Family Housing, Northwoods Project, Ser. 168-A, Rev., FRDO, 2.65%, 03/01/00 425 115 Ventura, California, Unified School District, Ser. C, GO, +, 7.60%, 08/01/00 117 100 West Basin, California, Municipal Water District, COP, +, ~, 6.85%, 08/01/00 103 850 West Contra Costa, California, Unified School District, Rev., TRAN, 4.50%, 12/06/00 854 400 Western Riverside County, California, Regional Wastewater Authority, Regional Wastewater Treatment, Rev., FRDO, 3.25%, 03/01/00 400 ------ 63,182 Pennsylvania -- 0.1% 100 Delaware Valley, Pennsylvania, Regional Finance Authority, Local Government, Rev., FRDO, 3.90%, 03/01/00 100 Puerto Rico -- 7.2% Puerto Rico Commonwealth, 1,000 Ser. A-1, GO, FRDO, 2.00%, 03/01/00 1,000 1,000 FLOATS, Ser. PT-1025, GO, FRDO, 3.11%, 03/01/00 1,000 Puerto Rico Commonwealth, Highway & Transportation Authority, 1,000 FLOATS, Ser. PA-472, Rev., FRDO, 3.11%, 03/02/00 1,000 1,800 Ser. Q, Rev., ~, 7.75%, 07/01/00 1,859 ------ 4,859
See notes to financial statements. 57 CHASE VISTA CALIFORNIA TAX FREE MONEY MARKET FUND Portfolio of Investments (Continued) As of February 29, 2000 (unaudited) (Amounts in thousands)
Principal Amount Issuer Value ---------------------------------------------------------------------------------- Municipal Securities -- Continued ---------------------------------------------------------------------------------- Virgin Islands -- 0.2% $ 100 Virgin Islands Public Finance Authority, Ser. A, Rev., ~, 7.30%, 10/01/00 $ 103 ----------------------------------------------------------------------------------- Total Investments -- 101.5% $68,244 (Cost $68,244)* -----------------------------------------------------------------------------------
INDEX: * -- The cost of securities is substantially the same for federal income tax purposes. # -- Security may only be sold to qualified institutional buyers. + -- Insured. ~ -- Security is prerefunded or escrowed to maturity. The maturity date shown is the date of the prerefunded call. ACES -- Auction Rate Securities. BAN -- Bond Anticipation Notes. COP -- Certificates of Participation. DN -- Discount Note: The rate shown is the effective yield at the date of purchase. FLOATS -- Floating Auction Tax-Exempts. FRDO -- Floating Rate Demand Obligation: The maturity date shown is the later of the next interest reset date or the put date; the rate shown is the rate in effect at February 29, 2000. FRN -- Floating Rate Note: The maturity date is the actual maturity date; the rate shown is the rate in effect at February 29, 2000. GO -- General Obligation. IDA -- Industrial Development Authority. IDR -- Industrial Development Revenue. MTN -- Medium Term Notes. PCR -- Pollution Control Revenue. PUTTERS -- Putable Tax Exempt Receipts. RAN -- Revenue Anticipation Notes. Rev. -- Revenue Bond. TAN -- Tax Anticipation Notes. TRAN -- Tax & Revenue Anticipation Notes. USTR -- United States Treasury Notes, Bonds and Bills. See notes to financial statements. 58 -------------------------------------------------------------------------------- STATEMENT OF ASSETS AND LIABILITIES February 29, 2000 (unaudited) -------------------------------------------------------------------------------- (Amounts in Thousands, Except Per Share Amounts)
100% U.S. Treasury U.S. Securities Government Treasury Plus Money Market Money Market Money Market Fund Fund Fund --------------------------------------------------------------------------------------- ASSETS: Investment securities, at value (Note 1) .............................. $4,113,739 $7,436,333 $3,430,237 Cash .................................. 3 5 3 Other assets .......................... 36 65 27 Receivables: Interest ............................. 45,159 68,955 12,801 Investment securities sold ........... -- 18,594 -- Fund shares sold ..................... 378 322 -- Other ................................ 34 -- -- --------------------------------------------------------------------------------------- Total Assets ....................... 4,159,349 7,524,274 3,443,068 --------------------------------------------------------------------------------------- LIABILITIES: Payables: Investment securities purchased -- 608,362 -- Fund shares redeemed ................. -- 10,146 -- Dividends ............................ 3,919 14,335 2,791 Accrued liabilities: (Note 2) Investment advisory fees ............. 327 561 201 Administration fees .................. 196 561 121 Shareholder servicing fees ........... 803 901 96 Distribution fees .................... 174 330 105 Custodian fees ....................... 45 103 6 Other ................................ 840 1,380 422 --------------------------------------------------------------------------------------- Total Liabilities .................. 6,304 636,679 3,742 --------------------------------------------------------------------------------------- NET ASSETS: Paid in capital ....................... 4,153,196 6,887,667 3,439,284 Accumulated undistributed (distributions in excess of) net investment income ..................... (106) 39 (53) Accumulated net realized gain (loss) on investment transactions ..... (45) (111) 95 --------------------------------------------------------------------------------------- Net Assets ......................... $4,153,045 $6,887,595 $3,439,326 --------------------------------------------------------------------------------------- Shares of beneficial interest outstanding ($.001 par value; unlimited number of shares authorized) Vista Shares .......................... 3,202,415 3,359,650 1,361,107 Premier Shares ........................ 76,890 988,653 304,111 Institutional Shares .................. 873,980 2,539,465 1,774,164 Net asset value, offering and redemption price per share (all classes) .......................... $ 1.00 $ 1.00 $ 1.00 --------------------------------------------------------------------------------------- Cost of investments .................... $4,113,739 $7,436,333 $3,430,237 ---------------------------------------------------------------------------------------
See notes to financial statements. 59 STATEMENT OF ASSETS AND LIABILITIES February 29, 2000 (unaudited) (Amounts in Thousands, Except Per Share Amounts)
Federal Cash Prime Money Market Management Money Market Fund Fund Fund ----------------------------------------------------------------------------------------- ASSETS: Investment securities, at value (Note 1) .............................. $1,178,749 $9,491,676 $9,649,351 Cash .................................. -- -- 658 Other assets .......................... 10 65 80 Receivables: Interest ............................. 5,879 82,389 57,384 Fund shares sold ..................... 676 8,935 78,479 ----------------------------------------------------------------------------------------- Total Assets ....................... 1,185,314 9,583,065 9,785,952 ----------------------------------------------------------------------------------------- LIABILITIES: Payables: Investment securities purchased 40,495 199,980 224,985 Fund shares redeemed ................. 134 79,899 8,040 Dividends ............................ 1,241 5,476 15,919 Accrued liabilities: (Note 2) Investment advisory fees ............. 91 745 849 Administration fees .................. 91 745 849 Shareholder servicing fees ........... 197 1,820 694 Distribution fees .................... 44 -- 14 Custodian fees ....................... 64 118 137 Other ................................ 519 1,476 1,621 ----------------------------------------------------------------------------------------- Total Liabilities .................. 42,876 290,259 253,108 ----------------------------------------------------------------------------------------- NET ASSETS: Paid in capital ....................... 1,142,508 9,293,632 9,532,894 Accumulated undistributed (distributions in excess of) net investment income ..................... (1) 32 (60) Accumulated net realized gain (loss) on investment transactions ..... (69) (858) 10 ----------------------------------------------------------------------------------------- Net Assets ......................... $1,142,438 $9,292,806 $9,532,844 ----------------------------------------------------------------------------------------- Shares of beneficial interest outstanding ($.001 par value; unlimited number of shares authorized) Vista Shares .......................... 574,850 6,374,224 1,150,643 Premier Shares ........................ 279,626 360,691 1,092,926 Institutional Shares .................. 288,032 2,558,729 7,271,405 B Shares* ............................. -- -- 17,759 C Shares* ............................. -- -- 161 Net asset value, offering and redemption price per share (all classes) .......................... $ 1.00 $ 1.00 $ 1.00 ----------------------------------------------------------------------------------------- Cost of investments .................... $1,178,749 $9,491,676 $9,649,351 -----------------------------------------------------------------------------------------
*Redemption price may be reduced by contingent deferred sales charge. See notes to financial statements. 60 STATEMENT OF ASSETS AND LIABILITIES February 29, 2000 (unaudited) (Amounts in Thousands, Except Per Share Amounts)
New York California Tax Free Tax Free Tax Free Money Market Money Market Money Market Fund Fund Fund ------------------------------------------------------------------------------------ ASSETS: Investment securities, at value (Note 1) ............................ $1,678,504 $1,730,860 $68,244 Cash ................................ 1,491 603 -- Other assets ........................ 12 13 -- Receivables: Interest ........................... 14,444 15,508 458 Fund shares sold ................... 3,508 169 -- Expense reimbursement from Distributor ........................ 60 -- -- ------------------------------------------------------------------------------------ Total Assets ..................... 1,698,019 1,747,153 68,702 ------------------------------------------------------------------------------------ LIABILITIES: Payables: To Custodian ....................... -- -- 1,343 Investment securities purchased 18,154 22,833 -- Fund shares redeemed ............... 112 68 -- Dividends .......................... 2,313 1,224 56 Accrued liabilities: (Note 2) Investment advisory fees ........... 126 135 -- Administration fees ................ 88 80 5 Shareholder servicing fees ......... 179 469 6 Distribution fees .................. 69 54 2 Custodian fees ..................... 46 54 15 Other .............................. 350 373 38 ------------------------------------------------------------------------------------ Total Liabilities ................ 21,437 25,290 1,465 ------------------------------------------------------------------------------------ NET ASSETS: Paid in capital ..................... 1,677,014 1,721,867 67,253 Accumulated undistributed (distributions in excess of) net investment income ................... (34) 55 (2) Accumulated net realized loss on investment transactions ............. (398) (59) (14) ------------------------------------------------------------------------------------ Net Assets ....................... $1,676,582 $1,721,863 $67,237 ------------------------------------------------------------------------------------ Shares of beneficial interest outstanding ($.001 par value; unlimited number of shares authorized) Vista Shares ........................ 880,588 1,721,981 67,253 Premier Shares ...................... 138,064 -- -- Institutional Shares ................ 658,384 -- -- Net asset value, offering and redemption price per share (all classes) ........................ $ 1.00 $ 1.00 $ 1.00 ------------------------------------------------------------------------------------ Cost of investments .................. $1,678,504 $1,730,860 $68,244 ------------------------------------------------------------------------------------
See notes to financial statements. 61 -------------------------------------------------------------------------------- STATEMENT OF OPERATIONS For the six months ended February 29, 2000 (unaudited) -------------------------------------------------------------------------------- (Amounts in Thousands)
100% U.S. Treasury U.S. Securities Government Treasury Plus Money Market Money Market Money Market Fund Fund Fund ----------------------------------------------------------------------------------------- INTEREST INCOME: (Note 1C) ............... $105,916 $201,963 $75,105 ----------------------------------------------------------------------------------------- EXPENSES: (Note 2) Investment advisory fees ................ 2,074 3,668 1,424 Administration fees ..................... 2,074 3,668 1,424 Shareholder servicing fees .............. 6,152 8,884 3,803 Distribution fees ....................... 1,616 2,300 834 Custodian fees .......................... 119 228 64 Printing and postage .................... 22 26 14 Professional fees ....................... 72 111 53 Registration costs ...................... 481 281 361 Transfer agent fees ..................... 321 379 144 Trustees' fees .......................... 104 183 71 Other ................................... 27 22 20 ----------------------------------------------------------------------------------------- Total expenses ........................ 13,062 19,750 8,212 ----------------------------------------------------------------------------------------- Less amounts waived (Note 2E) ........... 2,303 3,363 1,411 Less earnings credits (Note 2F) ......... 16 8 33 ----------------------------------------------------------------------------------------- Net expenses .......................... 10,743 16,379 6,768 ----------------------------------------------------------------------------------------- Net investment income ................. 95,173 185,584 68,337 ----------------------------------------------------------------------------------------- REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: Net realized gain (loss) on investment transactions ................. (35) (67) 96 Change in net unrealized appreciation/depreciation on investments ............................. -- -- -- ----------------------------------------------------------------------------------------- Net realized and unrealized gain (loss) on investments ................... (35) (67) 96 ----------------------------------------------------------------------------------------- Net increase in net assets from operations .............................. $95,138 $185,517 $68,433 -----------------------------------------------------------------------------------------
See notes to financial statements. 62 STATEMENT OF OPERATIONS For the six months ended February 29, 2000 (unaudited) (Amounts in Thousands)
Federal Cash Prime Money Market Management Money Market Fund Fund Fund -------------------------------------------------------------------------------------- INTEREST INCOME: (Note 1C) ............... $30,883 $244,225 $306,232 -------------------------------------------------------------------------------------- EXPENSES: (Note 2) Investment advisory fees ................ 562 4,255 5,323 Administration fees ..................... 562 4,255 5,323 Shareholder servicing fees .............. 1,469 12,052 7,310 Distribution fees ....................... 277 -- 105 Custodian fees .......................... 83 165 265 Printing and postage .................... 6 33 54 Professional fees ....................... 37 148 172 Registration costs ...................... 51 733 1,172 Transfer agent fees ..................... 243 983 220 Trustees' fees .......................... 28 213 266 Other ................................... 4 26 98 -------------------------------------------------------------------------------------- Total expenses ........................ 3,322 22,863 20,308 -------------------------------------------------------------------------------------- Less amounts waived (Note 2E) ........... 258 1,440 3,750 Less earnings credits (Note 2F) ......... 41 90 35 -------------------------------------------------------------------------------------- Net expenses .......................... 3,023 21,333 16,523 -------------------------------------------------------------------------------------- Net investment income ................. 27,860 222,892 289,709 -------------------------------------------------------------------------------------- REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: Net realized gain (loss) on investment transactions ................. (22) (198) 11 Change in net unrealized appreciation/depreciation on investments ............................. -- 1,650 3,884 -------------------------------------------------------------------------------------- Net realized and unrealized gain (loss) on investments ................... (22) 1,452 3,895 -------------------------------------------------------------------------------------- Net increase in net assets from operations .............................. $27,838 $224,344 $293,604 --------------------------------------------------------------------------------------
See notes to financial statements. 63 STATEMENT OF OPERATIONS For the six months ended February 29, 2000 (unaudited) (Amounts in Thousands)
New York California Tax Free Tax Free Tax Free Money Market Money Market Money Market Fund Fund Fund ------------------------------------------------------------------------------------------- INTEREST INCOME: (Note 1C) .............. $26,374 $27,561 $796 ------------------------------------------------------------------------------------------- EXPENSES: (Note 2) Investment advisory fees ............... 736 780 25 Administration fees .................... 736 780 25 Shareholder servicing fees ............. 1,830 2,732 87 Distribution fees ...................... 398 780 25 Custodian fees ......................... 92 100 32 Printing and postage ................... 24 21 1 Professional fees ...................... 40 39 15 Registration costs ..................... 480 8 -- Transfer agent fees .................... 110 201 17 Trustees' fees ......................... 37 39 1 Other .................................. 19 33 2 ------------------------------------------------------------------------------------------- Total expenses ....................... 4,502 5,513 230 ------------------------------------------------------------------------------------------- Less amounts waived (Note 2E) .......... 1,016 883 92 Less earnings credits (Note 2F) ........ 65 25 1 ------------------------------------------------------------------------------------------- Net expenses ......................... 3,421 4,605 137 ------------------------------------------------------------------------------------------- Net investment income ................ 22,953 22,956 659 ------------------------------------------------------------------------------------------- REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: Net realized gain (loss) on investment transactions ................ (4) 2 -- Change in net unrealized appreciation/depreciation on investments ............................ -- -- -- ------------------------------------------------------------------------------------------- Net realized and unrealized gain (loss) on investments .................. (4) 2 -- ------------------------------------------------------------------------------------------- Net increase in net assets from operations ........................ $22,949 $22,958 $659 -------------------------------------------------------------------------------------------
See notes to financial statements. 64 -------------------------------------------------------------------------------- STATEMENT OF CHANGES IN NET ASSETS For the periods indicated (unaudited) -------------------------------------------------------------------------------- (Amounts in Thousands)
100% U.S. Treasury U.S. Government Money Market Money Market Fund Fund 09/01/99 Year 09/01/99 Year through Ended through Ended 02/29/00 08/31/99 02/29/00 08/31/99 ---------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income ........... $ 95,173 $ 187,621 $ 185,584 $ 335,206 Net realized gain (loss) on investments ..................... (35) 2,072 (67) 27 Change in net unrealized appreciation/depreciation on investments .................. -- -- -- -- ---------------------------------------------------------------------------------------------------- Increase in net assets from operations ................ 95,138 189,693 185,517 335,233 ---------------------------------------------------------------------------------------------------- DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income ........... (95,173) (187,727) (185,591) (335,181) Net realized gain on investment transactions ......... (39) (2,956) -- -- ---------------------------------------------------------------------------------------------------- Total distributions to shareholders .................. (95,212) (190,683) (185,591) (335,181) ---------------------------------------------------------------------------------------------------- INCREASE (DECREASE) FROM CAPITAL SHARE TRANSACTIONS: # Proceeds from shares issued Vista Shares ................... 6,519,270 13,705,921 10,635,830 16,404,385 Premier Shares ................. 207,821 152,506 3,906,729 7,944,261 Institutional Shares ........... 2,945,276 5,004,382 11,969,849 23,799,456 ---------------------------------------------------------------------------------------------------- 9,672,367 18,862,809 26,512,408 48,148,102 ---------------------------------------------------------------------------------------------------- Proceeds from reinvestment of dividends Vista Shares ................... 56,192 112,062 45,388 74,078 Premier Shares ................. 1,051 1,084 13,301 25,108 Institutional Shares ........... 13,613 27,526 35,954 79,090 ---------------------------------------------------------------------------------------------------- 70,856 140,672 94,643 178,276 ---------------------------------------------------------------------------------------------------- Cost of shares redeemed Vista Shares ................... (6,686,035) (13,555,840) (10,860,035) (15,973,405) Premier Shares ................. (155,848) (151,462) (3,853,382) (8,130,974) Institutional Shares ........... (2,979,692) (5,932,433) (12,379,016) (23,763,028) ---------------------------------------------------------------------------------------------------- (9,821,575) (19,639,735) (27,092,433) (47,867,407) ---------------------------------------------------------------------------------------------------- Net increase (decrease) from capital share transactions ................... (78,352) (636,254) (485,382) 458,971 ---------------------------------------------------------------------------------------------------- Total increase (decrease) in net assets ........................ (78,426) (637,244) (485,456) 459,023 NET ASSETS: Beginning of period ............. 4,231,471 4,868,715 7,373,051 6,914,028 ---------------------------------------------------------------------------------------------------- End of period ................... $4,153,045 $ 4,231,471 $ 6,887,595 $ 7,373,051 ----------------------------------------------------------------------------------------------------
# At $1.00 per share. See notes to financial statements. 65 STATEMENT OF CHANGES IN NET ASSETS For the periods indicated (unaudited) (Amounts in Thousands)
Treasury Plus Federal Money Market Money Market Fund Fund 09/01/99 Year 09/01/99 Year through Ended through Ended 02/29/00 08/31/99 02/29/00 08/31/99 ---------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income ........... $ 68,337 $ 125,763 $ 27,860 $ 46,821 Net realized gain (loss) on investments ..................... 96 789 (22) 95 Change in net unrealized appreciation/depreciation on investments .................. -- -- -- -- ---------------------------------------------------------------------------------------------------- Increase in net assets from operations ................ 68,433 126,552 27,838 46,916 ---------------------------------------------------------------------------------------------------- DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income ........... (68,345) (125,782) (27,860) (46,814) Net realized gain on investment transactions ......... (62) (798) -- (112) ---------------------------------------------------------------------------------------------------- Total distributions to shareholders .................. (68,407) (126,580) (27,860) (46,926) ---------------------------------------------------------------------------------------------------- INCREASE (DECREASE) FROM CAPITAL SHARE TRANSACTIONS: # Proceeds from shares issued Vista Shares ................... 5,771,656 13,476,115 708,064 1,297,509 Premier Shares ................. 1,459,003 2,362,876 196,478 372,508 Institutional Shares ........... 5,993,538 12,537,826 2,015,516 3,327,807 ---------------------------------------------------------------------------------------------------- 13,224,197 28,376,817 2,920,058 4,997,824 ---------------------------------------------------------------------------------------------------- Proceeds from reinvestment of dividends Vista Shares ................... 27,390 41,118 9,685 18,183 Premier Shares ................. 2,706 3,990 5,790 11,931 Institutional Shares ........... 16,795 35,134 1,812 5,462 ---------------------------------------------------------------------------------------------------- 46,891 80,242 17,287 35,576 ---------------------------------------------------------------------------------------------------- Cost of shares redeemed Vista Shares ................... (6,172,354) (13,099,202) (692,929) (1,124,759) Premier Shares ................. (1,633,895) (2,046,068) (220,851) (399,355) Institutional Shares ........... (5,215,460) (12,469,834) (1,977,592) (3,282,935) ---------------------------------------------------------------------------------------------------- (13,021,709) (27,615,104) (2,891,372) (4,807,049) ---------------------------------------------------------------------------------------------------- Net increase from capital share transactions ................... 249,379 841,955 45,973 226,351 ---------------------------------------------------------------------------------------------------- Total increase in net assets ................. 249,405 841,927 45,951 226,341 NET ASSETS: Beginning of period ............. 3,189,921 2,347,994 1,096,487 870,146 ---------------------------------------------------------------------------------------------------- End of period ................... $ 3,439,326 $ 3,189,921 $1,142,438 $1,096,487 ----------------------------------------------------------------------------------------------------
# At $1.00 per share. See notes to financial statements. 66 STATEMENT OF CHANGES IN NET ASSETS For the periods indicated (unaudited) (Amounts in Thousands)
Cash Management Fund 09/01/99 Year through Ended 02/29/00 08/31/99 ------------------------------------------------------------------------------------ INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income ............................ $ 222,892 $ 317,595 Net realized loss on investments ................. (198) (329) Change in net unrealized appreciation/ depreciation on investments ...................... 1,650 (1,650) ------------------------------------------------------------------------------------ Increase in net assets from operations .......... 224,344 315,616 ------------------------------------------------------------------------------------ DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income ............................ (222,881) (317,818) Net realized gain on investment transactions ..... -- (117) ------------------------------------------------------------------------------------ Total distributions to shareholders ............ (222,881) (317,935) ------------------------------------------------------------------------------------ INCREASE (DECREASE) FROM CAPITAL SHARE TRANSACTIONS: # Proceeds from shares issued Vista Shares .................................... 13,805,234 26,474,726 Premier Shares .................................. 2,420,713 4,894,950 Institutional Shares ............................ 7,083,199 10,132,124 ------------------------------------------------------------------------------------ 23,309,146 41,501,800 ------------------------------------------------------------------------------------ Proceeds from reinvestment of dividends Vista Shares .................................... 129,396 187,928 Premier Shares .................................. 9,261 16,857 Institutional Shares ............................ 51,410 63,365 ------------------------------------------------------------------------------------ 190,067 268,150 ------------------------------------------------------------------------------------ Cost of shares redeemed Vista Shares .................................... (13,241,201) (24,623,550) Premier Shares .................................. (2,531,873) (4,864,551) Institutional Shares ............................ (6,123,378) (9,707,967) ------------------------------------------------------------------------------------ (21,896,452) (39,196,068) ------------------------------------------------------------------------------------ Net increase from capital share transactions .................................... 1,602,761 2,573,882 ------------------------------------------------------------------------------------ Total increase in net assets ................... 1,604,224 2,571,563 NET ASSETS: Beginning of period .............................. 7,688,582 5,117,019 ------------------------------------------------------------------------------------ End of period .................................... $ 9,292,806 $ 7,688,582 ------------------------------------------------------------------------------------
# At $1.00 per share. See notes to financial statements. 67 STATEMENT OF CHANGES IN NET ASSETS For the periods indicated (unaudited) (Amounts in Thousands)
Prime Money Market Fund 09/01/99 Year through Ended 02/29/00 08/31/99 ----------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income ............................ $ 289,709 $ 382,831 Net realized gain on investments ................. 11 327 Change in net unrealized appreciation/ depreciation on investments ...................... 3,884 (3,884) ----------------------------------------------------------------------------------- Increase in net assets from operations .......... 293,604 379,274 ----------------------------------------------------------------------------------- DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income ............................ (289,716) (382,895) Net realized gain on investment transactions ..... (121) (271) ----------------------------------------------------------------------------------- Total distributions to shareholders ............ (289,837) (383,166) ----------------------------------------------------------------------------------- INCREASE (DECREASE) FROM CAPITAL SHARE TRANSACTIONS: # Proceeds from shares issued Vista Shares* ................................... 2,388,883 1,051,476 Premier Shares .................................. 6,212,965 11,380,971 Institutional Shares ............................ 40,781,832 61,694,665 B Shares ........................................ 72,110 143,459 C Shares ........................................ 3,678 4,653 ----------------------------------------------------------------------------------- 49,459,468 74,275,224 ----------------------------------------------------------------------------------- Proceeds from reinvestment of dividends Vista Shares* ................................... 15,283 4,244 Premier Shares .................................. 17,114 24,988 Institutional Shares ............................ 169,392 229,886 B Shares ........................................ 487 771 C Shares ........................................ 6 5 ----------------------------------------------------------------------------------- 202,282 259,894 ----------------------------------------------------------------------------------- Cost of shares redeemed Vista Shares* ................................... (1,768,662) (540,581) Premier Shares .................................. (6,231,766) (10,901,491) Institutional Shares ............................ (41,843,952) (58,482,409) B Shares ........................................ (91,167) (136,601) C Shares ........................................ (3,667) (4,584) ----------------------------------------------------------------------------------- (49,939,214) (70,065,666) ----------------------------------------------------------------------------------- Net increase (decrease) from capital share transactions .............................. (277,464) 4,469,452 ----------------------------------------------------------------------------------- Total increase (decrease) in net assets ........ (273,697) 4,465,560 NET ASSETS: Beginning of period .............................. 9,806,541 5,340,981 ----------------------------------------------------------------------------------- End of period .................................... $ 9,532,844 $ 9,806,541 -----------------------------------------------------------------------------------
# At $1.00 per share. * PRM Vista Shares commencement of offering, 10/1/98. See notes to financial statements. 68 STATEMENT OF CHANGES IN NET ASSETS For the periods indicated (unaudited) (Amounts in Thousands)
Tax Free New York Tax Free Money Market Money Market Fund Fund 09/01/99 Year 09/01/99 Year through Ended through Ended 02/29/00 08/31/99 02/29/00 08/31/99 --------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income ........... $ 22,953 $ 36,759 $ 22,956 $ 37,793 Net realized gain (loss) on investments ..................... (4) 59 2 61 Change in net unrealized appreciation/depreciation on investments .................. -- -- -- -- --------------------------------------------------------------------------------------------------- Increase in net assets from operations ................ 22,949 36,818 22,958 37,854 --------------------------------------------------------------------------------------------------- DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income ........... (22,923) (36,827) (22,953) (37,841) Net realized gain on investment transactions ......... -- -- -- -- --------------------------------------------------------------------------------------------------- Total distributions to shareholders .................. (22,923) (36,827) (22,953) (37,841) --------------------------------------------------------------------------------------------------- INCREASE (DECREASE) FROM CAPITAL SHARE TRANSACTIONS: # Proceeds from shares issued Vista Shares ................... 856,962 2,100,524 1,610,006 3,260,482 Premier Shares ................. 161,833 385,299 -- -- Institutional Shares ........... 1,411,534 2,526,660 -- -- --------------------------------------------------------------------------------------------------- 2,430,329 5,012,483 1,610,006 3,260,482 --------------------------------------------------------------------------------------------------- Proceeds from reinvestment of dividends Vista Shares ................... 4,899 8,397 15,886 25,347 Premier Shares ................. 1,312 2,257 -- -- Institutional Shares ........... 3,684 5,196 -- -- --------------------------------------------------------------------------------------------------- 9,895 15,850 15,886 25,347 --------------------------------------------------------------------------------------------------- Cost of shares redeemed Vista Shares ................... (735,475) (2,088,092) (1,408,545) (3,153,158) Premier Shares ................. (155,105) (390,878) -- -- Institutional Shares ........... (1,233,354) (2,465,756) -- -- --------------------------------------------------------------------------------------------------- (2,123,934) (4,944,726) (1,408,545) (3,153,158) --------------------------------------------------------------------------------------------------- Net increase from capital share transactions .............. 316,290 83,607 217,347 132,671 --------------------------------------------------------------------------------------------------- Total increase in net assets ................. 316,316 83,598 217,352 132,684 --------------------------------------------------------------------------------------------------- NET ASSETS: Beginning of period ............. 1,360,266 1,276,668 1,504,511 1,371,827 --------------------------------------------------------------------------------------------------- End of period ................... $ 1,676,582 $1,360,266 $1,721,863 $1,504,511 ---------------------------------------------------------------------------------------------------
# At $1.00 per share. See notes to financial statements. 69 STATEMENT OF CHANGES IN NET ASSETS For the periods indicated (unaudited) (Amounts in Thousands)
California Tax Free Money Market Fund 09/01/99 Year through Ended 02/29/00 08/31/99 ------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income ....................................... $ 659 $ 1,181 Net realized gain on investments ............................ -- 4 Change in net unrealized appreciation/depreciation on investments ................................................. -- -- ------------------------------------------------------------------------------------------- Increase in net assets from operations ..................... 659 1,185 ------------------------------------------------------------------------------------------- DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income ....................................... (659) (1,200) Net realized gain on investment transactions ................ -- -- ------------------------------------------------------------------------------------------- Total distributions to shareholders ....................... (659) (1,200) ------------------------------------------------------------------------------------------- INCREASE (DECREASE) FROM CAPITAL SHARE TRANSACTIONS: # Proceeds from shares issued (Vista Shares) .................. 104,185 329,610 Proceeds from reinvestment of dividends (Vista Shares) ...... 291 474 Cost of shares redeemed (Vista Shares) ...................... (104,879) (312,828) ------------------------------------------------------------------------------------------- Net increase (decrease) from capital share transactions ..... (403) 17,256 ------------------------------------------------------------------------------------------- Total increase (decrease) in net assets ................... (403) 17,241 NET ASSETS: Beginning of period ......................................... 67,640 50,399 ------------------------------------------------------------------------------------------- End of period ............................................... $ 67,237 $ 67,640 -------------------------------------------------------------------------------------------
# At $1.00 per share. See notes to financial statements. 70 -------------------------------------------------------------------------------- CHASE VISTA FUNDS NOTES TO FINANCIAL STATEMENTS (unaudited) -------------------------------------------------------------------------------- 1. Organization and Significant Accounting Policies Mutual Fund Trust (the "Trust") was organized as a Massachusetts business trust, and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, management investment company. 100% U.S. Treasury Securities Money Market Fund ("USTS"), U.S. Government Money Market Fund ("USG"), Treasury Plus Money Market Fund ("TP"), Federal Money Market Fund ("FED"), Cash Management Fund ("CM"), Prime Money Market Fund ("PRM"), Tax Free Money Market Fund ("TF"), New York Tax Free Money Market Fund ("NYTF") and California Tax Free Money Market Fund ("CTF") (collectively, the "Funds") are nine separate portfolios of the Trust. The Funds offer various classes of shares as follows:
Fund Classes Offered -------------------------------------------------------------------------------- USTS Vista, Premier, Institutional USG Vista, Premier, Institutional TP Vista, Premier, Institutional FED Vista, Premier, Institutional CM Vista, Premier, Institutional PRM Vista, Premier, Institutional, B Shares, C Shares TF Vista, Premier, Institutional NYTF Vista CTF Vista
All classes of shares have equal rights as to earnings, assets and voting privileges except that each class may bear different transfer agent, distribution and shareholder servicing expenses, and each class has exclusive voting rights with respect to its distribution plan and shareholder servicing agreement. The following is a summary of significant accounting policies followed by the Funds: The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. A. Valuation of investments -- Money market instruments are valued at amortized cost which approximates market value. The Trust's use of amortized cost is subject to the Trust's compliance with certain conditions as specified under Rule 2a-7 of the 1940 Act. B. Repurchase agreements -- It is the Fund's policy that repurchase agreements are fully collateralized by U.S. Treasury and Government Agency securities. All collateral is held by the Fund's custodian bank, subcustodian or a bank in which the custodian bank has entered into a subcustodian agreement or is segregated in the Federal Reserve Book Entry System. If the seller of a repurchase agreement defaults and the value of the collateral declines, or if the seller enters into an insolvency proceeding, realization of the collateral may be delayed or limited. C. Security transactions and investment income -- Investment transactions are accounted for on the trade date (the date the order to buy or sell is executed). Securities gains and losses are calculated on the identified cost 71 CHASE VISTA FUNDS NOTES TO FINANCIAL STATEMENTS (unaudited) (continued) basis. Interest income consists of coupon interest accrued and amortization of premium and discount earned. D. Federal income taxes -- Each Fund is treated as a separate taxable entity for Federal income tax purposes. The Fund's policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders all of its distributable net income, including net realized gain on investments. In addition, the Fund intends to make distributions as required to avoid excise taxes. Accordingly, no provision for Federal income or excise tax is necessary. E. Distributions to shareholders -- Dividends and distributions paid to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with Federal income tax regulations, which may differ from generally accepted accounting principles. To the extent these "book/tax" differences are permanent in nature (i.e., that they result from other than timing of recognition--"temporary differences"), such amounts are reclassified within the capital accounts based on their Federal income tax-basis treatment. Dividends and distributions which exceed net investment income or net realized capital gains for financial reporting purposes but not for tax purposes are reported as distributions in excess of net investment income or net realized capital gains. F. Income and Expenses -- Expenses directly attributable to a Fund are charged to that Fund; other expenses are allocated proportionately among each of the Funds within the Trust in relation to the net assets of each Fund or on another reasonable basis. Expenses directly attributable to a particular class are charged directly to such class. In calculating net asset value per share of each class, investment income, realized and unrealized gains and losses and expenses other than class specific expenses (e.g. transfer agent fees), are allocated daily to each class of shares based upon the proportion of net assets of each class at the beginning of each day. 2. Fees and Other Transactions with Affiliates A. Investment advisory fee -- Pursuant to separate Investment Advisory Agreements, The Chase Manhattan Bank ("Chase" or "Adviser") acts as the investment adviser to the Funds. Chase is a direct wholly-owned subsidiary of The Chase Manhattan Corporation. As investment adviser, Chase supervises the investments of each Fund and for such services is paid a fee. The fee is accrued daily and paid monthly at an annual rate equal to 0.10% of the average daily net assets for each respective Fund. The Adviser voluntarily waived all or a portion of its fees as outlined in Note 2.E. below. Chase Asset Management, Inc. ("CAM"), a registered investment adviser, is the sub-investment adviser to each Fund, other than CM and TF, pursuant to a Sub-Investment Advisory Agreement between CAM and Chase. CAM is a wholly-owned subsidiary of Chase and is entitled 72 CHASE VISTA FUNDS NOTES TO FINANCIAL STATEMENTS (unaudited) (continued) to receive a fee, payable by Chase from its advisory fee, at an annual rate equal to 0.03% of each Fund's average daily net assets. Chase Bank of Texas, National Association ("CBT") is the sub-investment adviser to CM and TF pursuant to a Sub-Investment Advisory Agreement between Chase and CBT. CBT is a wholly-owned subsidiary of Chase and is entitled to receive a fee, payable by Chase from its advisory fee, at an annual rate equal to 0.03% of the Fund's average daily net assets. B. Shareholder and Fund servicing fees -- The Trust adopted Administrative Service Plans which, among other things, provide that the Trust on behalf of the Funds may obtain the services of one or more Shareholder Servicing Agents. For its services, each Shareholder Servicing Agent receives a fee. The fee is computed daily and paid monthly at an annual rate of 0.35%, of the average daily net assets of the Vista Class, 0.25% of the average daily net assets of the Premier, B Shares and C Shares Classes, and 0.10% of the average daily net assets of the Institutional Class of each Fund. Chase and certain of its affiliates are the only Shareholder Servicing Agents. The Shareholder Servicing Agents have voluntarily waived all or a portion of their fees as outlined in Note 2.E. below. C. Distribution and sub-administrations fees -- Pursuant to a Distribution and Sub-Administration Agreement, Vista Fund Distributors, Inc. ("VFD" or the "Distributor"), a wholly-owned subsidiary of The BISYS Group, Inc. ("BISYS"), acts as the Trust's exclusive underwriter and promotes and arranges for the sale of each Fund's shares. In addition, the Distributor provides certain sub-administration services to the Trust, including providing officers, clerical staff and office space for an annual fee computed daily and paid monthly, of 0.05% of the average daily net assets of each Fund. The Trustees have adopted plans of distribution under the 1940 Act for the Premier Shares of USG (the "Premier Plan"), for the Vista Shares (the "Vista Plan") except for CM and PRM, and for the B Shares and C Shares of the PRM (the "B Plan" and "C Plan", respectively). There are no distribution plans for the Institutional Shares. The Premier, Vista, B and C Share Plans pay the Distributor a distribution fee. The fee is computed daily and paid monthly at an annual rate of: 0.10% of the average daily net assets of the Vista Class of each Fund (except CM and PRM), 0.10% of the average daily net assets of the USG Premier Class and 0.75% of the average daily net assets of the B Shares and C Shares of PRM. The Distributor voluntarily waived all or a portion of its distribution fees as outlined in Note 2.E. below. D. Administration fee -- Pursuant to the Administration Agreement, Chase (the "Administrator") provides certain administration services and facilities to each Fund at a fee computed daily and paid monthly at the annual rate equal to 0.05% of the respective Fund's average daily net assets. 73 CHASE VISTA FUNDS NOTES TO FINANCIAL STATEMENTS (unaudited) (continued) The Administrator voluntarily waived all or a portion of the administration fees as outlined in Note 2.E. below. E. Waiver of fees -- For the six months ended February 29, 2000, the Funds' vendors voluntarily waived fees for each of the Funds as follows (amounts in thousands):
Investment Shareholder Advisory Administration Servicing Distribution -------------------------------------------------------------------------------- USTS.......... $-- $829 $ 989 $485 USG .......... -- -- 3,149 214 TP ........... -- 570 841 -- FED .......... -- -- 258 -- CM ........... -- -- 1,440 -- PRM .......... -- -- 3,750 -- TF ........... -- 221 795 -- NYTF......... -- 377 -- 506 CTF .......... 25 -- 55 12
F. Other --Certain officers of the Trust are officers of VFD or of its parent corporation, BISYS. Chase provides portfolio accounting and custody services for the Funds. Such amounts are presented in the Statement of Operations as custodian fees. Custodian fees are subject to reduction by credits earned by each Fund, based on cash balances held by Chase as custodian. Such earnings credits are presented separately in the Statement of Operations. The Funds could have invested the cash balances utilized in connection with the earnings credit arrangements in income producing assets if they had not entered into such arrangements. 3. Concentration of Credit Risk As of February 29, 2000, CM and PRM invested 75.6% and 91.8%, respectively, of their net assets in securities issued by institutions in the financial services industry including banks, broker dealers and insurance companies. General economic conditions, as well as exposure to credit losses arising from possible financial difficulties of borrowers, play an important role in the operation of the financial services industry. TF, NYTF and CTF invest substantially all of their assets in a diversified portfolio of debt obligations issued by states, territories and possessions of the United States and by the District of Columbia, and by their political subdivisions and duly constituted authorities, with NYTF primarily investing in issuers in the State of New York, and CTF primarily investing in issuers in the State of California. The issuers' abilities to meet their obligations may be affected by economic or political developments in a specific state or region. 4. Trustee Compensation The Funds have adopted an unfunded noncontributory defined benefit pension plan covering all independent trustees of the Funds who will have served as an independent trustee for at least five years at the time of retirement. Benefits under this plan are based on compensation and years of service. Pension expenses for the six months ended February 29, 2000, 74 CHASE VISTA FUNDS NOTES TO FINANCIAL STATEMENTS (unaudited) (continued) included in Trustees Fees in the Statement of Operations, and accrued pension liability included in Other Accrued Liabilities in the Statement of Assets and Liabilities were as follows (in thousands):
Pension Accrued Fund Expenses Pension Liability -------------------------------------------------------------------------------- USTS ......... $36 $291 USG .......... 64 563 TP ........... 25 220 FED .......... 10 83 CM ........... 68 425 PRM .......... 87 374 TF ........... 12 107 NYTF ......... 13 110 CTF .......... 1 5
75 -------------------------------------------------------------------------------- CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) -------------------------------------------------------------------------------- FINANCIAL HIGHLIGHTS (unaudited)
100% U.S. Treasury Securities Money Market Fund --------------------------------------------------------------------------------- Vista Shares --------------------------------------------------------------------------------- 9/1/99 Year Ended 12/1/95++ Year Ended Through August 31, Through November 30, -------------------------- ------------ 2/29/00 1999 1998 1997 8/31/96 1995 1994 ---------- -------- ---- ---- ---------- -------- ---- Per Share Operating Performance Net Asset Value, Beginning of Period ...... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ---------- -------- ------ ------ ---------- -------- ------ Income from Investment Operations: Net Investment Income .................... 0.02 0.04 0.05 0.05 0.04 0.05 0.03 Less Dividends from Net Investment Income ....................... 0.02 0.04 0.05 0.05 0.04 0.05 0.03 ---------- -------- ------ ------ ---------- -------- ------ Net Asset Value, End of Period ............ $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========== ======== ====== ====== ========== ======== ====== Total Return .............................. 2.27% 4.31% 4.92% 4.87% 3.50% 5.15% 3.32% Ratios/Supplemental Data: Net Assets, End of Period (millions) ..... $ 3,202 $3,312 $3,051 $2,376 $ 1,672 $1,338 $1,024 Ratios to Average Net Assets#: Expenses ................................. 0.59% 0.59% 0.59% 0.59% 0.60% 0.58% 0.59% Net Investment Income .................... 4.52% 4.15% 4.78% 4.74% 4.58% 4.99% 3.26% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ......... 0.71% 0.71% 0.71% 0.71% 0.68% 0.61% 0.62% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......................... 4.40% 4.03% 4.66% 4.62% 4.50% 4.96% 3.23% 100% U.S. Treasury Securities Money Market Fund -------------------------------------------------------- Premier Shares -------------------------------------------------------- 9/1/99 Year Ended 6/3/96* Through August 31, Through -------------------------- 2/29/00 1999 1998 1997 8/31/96 ---------- -------- ---- ---- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ...... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ---------- -------- ------- ------- --------- Income from Investment Operations: Net Investment Income .................... 0.02 0.04 0.05 0.05 0.01 Less Dividends from Net Investment Income ....................... 0.02 0.04 0.05 0.05 0.01 ---------- -------- ------- ------- --------- Net Asset Value, End of Period ............ $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========== ======== ======= ======= ========= Total Return .............................. 2.32% 4.40% 5.00% 4.91% 1.11% Ratios/Supplemental Data: Net Assets, End of Period (millions) ..... $ 77 $ 24 $ 22 $ 6 $ 1 Ratios to Average Net Assets#: Expenses ................................. 0.50% 0.50% 0.51% 0.55% 0.42% Net Investment Income .................... 4.69% 4.22% 4.99% 4.80% 3.45% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ......... 0.54% 0.56% 0.78% 0.80% 0.42% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......................... 4.65% 4.16% 4.72% 4.55% 3.45% --------------------------------------------------------------------------------------------------------------------------
++ In 1996, the Fund changed its fiscal year-end from November 30 to August 31. * Commencement of offering of class of shares. # Short periods have been annualized. See notes to financial statements 76 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
100% U.S. Treasury Securities Money Market Fund ----------------------------------------------------------- Institutional Shares ----------------------------------------------------------- 9/1/99 Year Ended 6/3/96* Through August 31, Through -------------------------- 2/29/00 1999 1998 1997 8/31/96 ----------- -------- ---- ---- ------- Per Share Operating Performance Net Asset Value, Beginning of Period ............. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ----------- -------- ------ ------- -------- Income from Investment Operations: Net Investment Income ............................ 0.02 0.05 0.05 0.05 0.01 Less Dividends from Net Investment Income .............................. 0.02 0.05 0.05 0.05 0.01 ----------- -------- ------ ------- -------- Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 =========== ======== ====== ======= ======== Total Return ..................................... 2.45% 4.67% 5.30% 5.20% 1.23% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............ $ 874 $ 895 $1,796 $ 81 $ 1 Ratios to Average Net Assets#: Expenses ........................................ 0.25% 0.24% 0.21% 0.27% 0.21% Net Investment Income ........................... 4.87% 4.51% 5.13% 5.06% 3.65% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.34% 0.32% 0.25% 0.27% 0.21% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 4.78% 4.43% 5.09% 5.06% 3.65% -----------------------------------------------------------------------------------------------------------
* Commencement of offering of class of shares. # Short periods have been annualized. See notes to financial statements. 77 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
U.S. Government Money Market Fund ----------------------------------------------------------------- Vista Shares ----------------------------------------------------------------- 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 ---------- ---------- ---------- ---------- ---------- ---------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ------ ------ ------ ------ ------ Income from Investment Operations: Net Investment Income ............................... 0.02 0.04 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.02 0.04 0.05 0.05 0.05 0.05 ------ ------ ------ ------ ------ ------ Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ====== ====== ====== ====== ====== Total Return ......................................... 2.48% 4.55% 5.14% 5.04% 4.97% 5.05% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $3,360 $3,538 $3,033 $2,139 $2,057 $ 341 Ratios to Average Net Assets:# Expenses ............................................ 0.59% 0.59% 0.59% 0.59% 0.65% 0.80% Net Investment Income ............................... 4.93% 4.46% 5.01% 4.93% 4.83% 4.93% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.69% 0.69% 0.70% 0.72% 0.73% 0.80% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.83% 4.36% 4.90% 4.80% 4.75% 4.93% ----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 78 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
U.S. Government Money Market Fund ---------------------------------------------------------------- Premier Shares ---------------------------------------------------------------- 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 --------- ---------- ---------- ---------- ---------- ---------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ------ ------ ------ ------ ------ Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.03 0.05 0.05 0.05 0.05 0.05 ------ ------ ------ ------ ------ ------ Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ====== ====== ====== ====== ====== Total Return ......................................... 2.55% 4.70% 5.25% 5.08% 5.15% 5.31% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 989 $ 922 $1,084 $ 837 $ 802 $ 764 Ratios to Average Net Assets:# Expenses ............................................ 0.45% 0.45% 0.48% 0.55% 0.55% 0.55% Net Investment Income ............................... 5.07% 4.60% 5.12% 4.97% 5.04% 5.22% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.58% 0.58% 0.60% 0.60% 0.59% 0.59% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.94% 4.47% 5.00% 4.92% 5.00% 5.18% --------------------------------------------------------------------------------------------------------------------- U.S. Government Money Market Fund ----------------------------------------------------------------- Institutional Shares ----------------------------------------------------------------- 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 ---------- ---------- ---------- ---------- ---------- ---------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ------ ------ ------ ------ ------ Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.03 0.05 0.05 0.05 0.05 0.05 ------ ------ ------ ------ ------ ------ Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ====== ====== ====== ====== ====== Total Return ......................................... 2.64% 4.92% 5.51% 5.40% 5.45% 5.60% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $2,539 $2,913 $2,797 $2,955 $1,182 $ 466 Ratios to Average Net Assets:# Expenses ............................................ 0.26% 0.25% 0.24% 0.24% 0.27% 0.27% Net Investment Income ............................... 5.34% 4.80% 5.36% 5.29% 5.30% 5.58% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.33% 0.31% 0.24% 0.24% 0.27% 0.28% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 5.27% 4.74% 5.36% 5.29% 5.30% 5.57% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 79 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Treasury Plus Money Market Fund ------------------------------------------------------ Vista Shares ------------------------------------------------------ Year Ended 9/1/99 August 31, 5/6/96* Through -------------------------------- Through 2/29/00 1999 1998 1997 8/31/96 ---------- ---------- ---------- ---------- ---------- Per Share Operating Performance Net Asset Value, Beginning of Period ............. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ------ ------ ------ ------ Income from Investment Operations: Net Investment Income ........................... 0.02 0.04 0.05 0.05 0.02 Less Dividends from Net Investment Income .............................. 0.02 0.04 0.05 0.05 0.02 ------ ------ ------ ------ ------ Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ====== ====== ====== ====== Total Return ..................................... 2.36% 4.39% 5.05% 4.89% 1.50% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............ $1,361 $1,734 $1,316 $1,606 $1,382 Ratios to Average Net Assets:# Expenses ........................................ 0.59% 0.59% 0.59% 0.59% 0.59% Net Investment Income ........................... 4.69% 4.27% 4.92% 4.79% 4.63% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.70% 0.69% 0.70% 0.70% 0.73% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 4.58% 4.17% 4.81% 4.68% 4.49% -------------------------------------------------------------------------------------------------------- Treasury Plus Money Market Fund ---------------------------------------------------------------- Premier Shares ---------------------------------------------------------------- 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 --------- ---------- ---------- ---------- ---------- ---------- Per Share Operating Performance Net Asset Value, Beginning of Period ............. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ------ ------ ------ ------ ------ Income from Investment Operations: Net Investment Income ........................... 0.02 0.04 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .............................. 0.02 0.04 0.05 0.05 0.05 0.05 ------ ------ ------ ------ ------ ------ Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ====== ====== ====== ====== ====== Total Return ..................................... 2.43% 4.54% 5.18% 4.98% 5.07% 5.17% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............ $ 304 $ 476 $ 155 $ 131 $ 106 $ 19 Ratios to Average Net Assets:# Expenses ........................................ 0.45% 0.45% 0.46% 0.51% 0.52% 0.50% Net Investment Income ........................... 4.83% 4.42% 5.06% 4.88% 4.85% 5.23% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.50% 0.50% 0.50% 0.53% 0.63% 1.57% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 4.78% 4.37% 5.02% 4.86% 4.74% 4.16% --------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. * Commencement of offering of class of shares. 80 See notes to financial statements. CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Treasury Plus Money Market Fund ----------------------------------------------------------------- Institutional Shares ----------------------------------------------------------------- 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 ---------- ---------- ---------- ---------- ---------- ---------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ------ ------ ------ ------ ------ Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.03 0.05 0.05 0.05 0.05 0.05 ------ ------ ------ ------ ------ ------ Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ====== ====== ====== ====== ====== Total Return ......................................... 2.54% 4.75% 5.44% 5.24% 5.29% 5.36% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $1,774 $ 980 $ 876 $ 292 $ 189 $ 18 Ratios to Average Net Assets:# Expenses ............................................ 0.25% 0.24% 0.21% 0.26% 0.30% 0.32% Net Investment Income ............................... 5.04% 4.61% 5.29% 5.16% 5.11% 5.21% Expenses Without Waivers, Assumption of Expenses and Earnings Credits .................... 0.35% 0.31% 0.25% 0.26% 0.38% 0.89% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.94% 4.54% 5.25% 5.16% 5.03% 4.64% ----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 81 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Federal Money Market Fund ------------------------------------------------------------------ Vista Shares ------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 ------- ---- ---- ---- ---- ---- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 --------- ------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income .............................. 0.02 0.04 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.02 0.04 0.05 0.05 0.05 0.05 --------- ------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========= ======= ======= ======= ======= ======= Total Return ......................................... 2.41% 4.46% 4.94% 4.91% 4.83% 5.20% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 575 $ 550 $ 359 $ 301 $ 353 $ 203 Ratios to Average Net Assets:# Expenses ............................................ 0.70% 0.70% 0.70% 0.70% 0.70% 0.69% Net Investment Income ............................... 4.80% 4.35% 4.88% 4.79% 4.79% 5.16% Expenses Without Waivers, Assumption of Expenses and Earnings Credits .................... 0.76% 0.78% 0.84% 0.82% 0.93% 0.93% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.74% 4.27% 4.74% 4.67% 4.56% 4.92% ----------------------------------------------------------------------------------------------------------------------- Federal Money Market Fund ------------------------------------------------------------------ Premier Shares ------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 ------- ---- ---- ---- ---- ---- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 --------- ------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income .............................. 0.02 0.05 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.02 0.05 0.05 0.05 0.05 0.05 --------- ------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========= ======= ======= ======= ======= ======= Total Return ......................................... 2.51% 4.67% 5.22% 5.12% 5.14% 5.40% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 279 $ 298 $ 313 $ 400 $ 249 $ 149 Ratios to Average Net Assets:# Expenses ............................................ 0.50% 0.50% 0.50% 0.50% 0.50% 0.49% Net Investment Income ............................... 5.00% 4.56% 5.07% 5.01% 4.99% 5.32% Expenses Without Waivers, Assumption of Expenses and Earnings Credits .................... 0.51% 0.50% 0.51% 0.52% 0.52% 0.59% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.99% 4.56% 5.06% 4.99% 4.97% 5.22% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 82 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Federal Money Market Fund ------------------------------------------------------------------ Institutional Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- ---- ---- ---- ---- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.03 0.05 0.05 0.05 0.05 0.05 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ......................................... 2.63% 4.92% 5.46% 5.35% 5.35% 5.57% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 288 $ 248 $ 198 $ 131 $ 141 $ 114 Ratios to Average Net Assets:# Expenses ............................................ 0.26% 0.26% 0.27% 0.27% 0.30% 0.31% Net Investment Income ............................... 5.25% 4.79% 5.32% 5.23% 5.20% 5.45% Expenses Without Waivers, Assumption of Expenses and Earnings Credits .................... 0.34% 0.34% 0.27% 0.27% 0.30% 0.37% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 5.17% 4.71% 5.32% 5.23% 5.20% 5.39% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 83 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Cash Management Fund --------------------------------- Vista Shares --------------------------------- 9/1/99 Year Ended August 31, Through --------------------- 2/29/00 1999 1998 -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 --------- -------- ------ Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.05 Less Dividends from Net Investment Income .................................. 0.03 0.05 0.05 --------- -------- ------ Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 ========= ======== ====== Total Return ......................................... 2.59% 4.74% 5.23% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 6,374 $5,679 $3,642 Ratios to Average Net Assets:# Expenses ............................................ 0.59% 0.59% 0.59% Net Investment Income ............................... 5.16% 4.61% 5.09% Expenses Without Waivers, Assumption of Expenses and Earnings Credits .................... 0.62% 0.62% 0.61% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 5.13% 4.58% 5.07% --------------------------------------------------------------------------------------- Cash Management Fund ---------------------------------------------- Vista Shares ---------------------------------------------- Year Ended 12/1/95++ November 30, Through --------------------- 1997 8/31/96 1995 1994 ---- ---------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 ------ ---------- -------- ------- Income from Investment Operations: Net Investment Income ............................... 0.05 0.04 0.05 0.04 Less Dividends from Net Investment Income .................................. 0.05 0.04 0.05 0.04 ------ ---------- -------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 ====== ========== ======== ======= Total Return ......................................... 5.09% 3.69% 5.49% 3.62% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $2,576 $1,621 $1,634 $ 990 Ratios to Average Net Assets:# Expenses ............................................ 0.59% 0.60% 0.58% 0.58% Net Investment Income ............................... 4.99% 4.91% 5.35% 3.62% Expenses Without Waivers, Assumption of Expenses and Earnings Credits .................... 0.62% 0.63% 0.62% 0.62% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.96% 4.88% 5.31% 3.58% ----------------------------------------------------------------------------------------------------
++ In 1996, the Fund changed its fiscal year-end from November 30 to August 31. # Short periods have been annualized. See notes to financial statements. 84 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Cash Management Fund -------------------------------------------------------- Premier Shares -------------------------------------------------------- Year Ended August 31, 9/1/99 ------------------------------ 5/6/96* Through Through 2/29/00 1999 1998 1997 8/31/96 -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ............. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 --------- -------- ------- ------- --------- Income from Investment Operations: Net Investment Income ........................... 0.03 0.05 0.05 0.05 0.02 Less Dividends from Net Investment Income ...... 0.03 0.05 0.05 0.05 0.02 --------- -------- ------- ------- --------- Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========= ======== ======= ======= ========= Total Return ..................................... 2.66% 4.89% 5.35% 5.18% 1.61% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............ $ 361 $ 463 $ 415 $ 375 $ 433 Ratios to Average Net Assets:# Expenses ........................................ 0.45% 0.45% 0.47% 0.50% 0.50% Net Investment Income ........................... 5.28% 4.77% 5.22% 5.07% 4.93% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.50% 0.50% 0.52% 0.51% 0.52% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 5.23% 4.72% 5.17% 5.06% 4.91% ---------------------------------------------------------------------------------------------------------- Cash Management Fund -------------------------------------------------------- Institutional Shares -------------------------------------------------------- Year Ended August 31, 9/1/99 -------------------------------- 5/6/96* Through Through 2/29/00 1999 1998 1997 8/31/96 -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ............. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 --------- -------- ------ ------- --------- Income from Investment Operations: Net Investment Income ........................... 0.03 0.05 0.06 0.05 0.02 Less Dividends from Net Investment Income ...... 0.03 0.05 0.06 0.05 0.02 --------- -------- ------ ------- --------- Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========= ======== ====== ======= ========= Total Return ..................................... 2.76% 5.09% 5.59% 5.45% 1.69% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............ $2,558 $1,547 $1,060 $ 924 $ 657 Ratios to Average Net Assets:# Expenses ........................................ 0.26% 0.26% 0.24% 0.24% 0.25% Net Investment Income ........................... 5.50% 4.95% 5.45% 5.34% 5.22% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.33% 0.32% 0.24% 0.24% 0.25% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 5.43% 4.89% 5.45% 5.34% 5.22% ----------------------------------------------------------------------------------------------------------
* Commencement of offering of class of shares. # Short periods have been annualized. See notes to financial statements. 85 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Prime Money Market Fund ------------------------------------------------------------------ Premier Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------ 2/29/00 1999 1998 1997 1996 1995 ------- -------- ------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.05 0.05 0.05 0.05 Less Dividends from Net Investment Income .......... 0.03 0.05 0.05 0.05 0.05 0.05 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ......................................... 2.67% 4.90% 5.44% 5.34% 5.32% 5.44% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $1,093 $1,094 $ 590 $ 499 $ 419 $ 63 Ratios to Average Net Assets:# Expenses ............................................ 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% Net Investment Income ............................... 5.30% 4.77% 5.29% 5.17% 5.18% 5.24% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.50% 0.49% 0.51% 0.53% 0.51% 0.65% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 5.25% 4.73% 5.23% 5.09% 5.12% 5.04% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 86 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Prime Money Market Fund ------------------------------------------------------------------ Institutional Shares ------------------------------------------------------------------ 9/1/99 Through Year Ended August 31, ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- ---- ---- ---- ---- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------ ------ ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.03 0.05 0.06 0.05 0.05 0.06 Less Dividends from Net Investment Income .......... 0.03 0.05 0.06 0.05 0.05 0.06 -------- -------- ------ ------ ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ====== ====== ======= ======= Total Return ......................................... 2.77% 5.10% 5.65% 5.49% 5.51% 5.62% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 7,275 $8,161 $4,722 $1,348 $ 725 $ 186 Ratios to Average Net Assets:# Expenses ............................................ 0.26% 0.26% 0.24% 0.25% 0.26% 0.27% Net Investment Income ............................... 5.50% 4.96% 5.50% 5.37% 5.33% 5.57% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.34% 0.33% 0.24% 0.25% 0.26% 0.35% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 5.42% 4.89% 5.50% 5.37% 5.33% 5.49% ------------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 87 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Prime Money Market Fund ------------------------------------------------------------------ B Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.02 0.04 0.05 0.04 0.04 0.04 Less Dividends from Net Investment Income .......... 0.02 0.04 0.05 0.04 0.04 0.04 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ......................................... 2.26% 4.07% 4.60% 4.33% 4.25% 4.37% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 17 $ 36 $ 29 $ 10 $ 16 $ 5 Ratios to Average Net Assets:# Expenses ............................................ 1.25% 1.25% 1.25% 1.35% 1.47% 1.47% Net Investment Income ............................... 4.47% 4.00% 4.49% 4.27% 4.17% 4.33% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 1.28% 1.47% 1.50% 1.53% 1.71% 2.53% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.44% 3.78% 4.24% 4.09% 3.93% 3.27% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 88 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Prime Money Market Fund --------------------------------------------------------------------- C Shares Vista Shares ---------------------------------------- -------------------------- 9/1/99 Year 5/14/98* 9/1/99 10/1/98* Through Ended Through Through Through 2/29/00 8/31/99 8/31/98 2/29/00 8/31/99 ------- ------- -------- ------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- --------- -------- --------- Income from Investment Operations: Net Investment Income ............................... 0.02 0.04 0.01 0.03 0.04 Less Dividends from Net Investment Income .......... 0.02 0.04 0.01 0.03 0.04 -------- -------- --------- -------- --------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ========= ======== ========= Total Return ......................................... 2.25% 3.85% 1.29% 2.60% 4.26% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 1 $ 1 $ 1 $ 1,147 $ 515 Ratios to Average Net Assets:# Expenses ............................................ 1.28% 1.45% 1.50% 0.59% 0.59% Net Investment Income ............................... 4.49% 3.75% 4.21% 5.22% 4.61% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 1.28% 1.45% 1.50% 0.63% 0.72% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 4.49% 3.75% 4.21% 5.18% 4.48% ----------------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. * Commencement of offering of classes of shares. See notes to financial statements. 89 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Tax Free Money Market Fund ------------------------------------------------------------------ Vista Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.01 0.03 0.03 0.03 0.03 0.03 Less Dividends from Net Investment Income .......... 0.01 0.03 0.03 0.03 0.03 0.03 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ......................................... 1.50% 2.73% 3.10% 3.12% 2.92% 2.99% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 880 $ 754 $ 733 $ 566 $ 574 $ 167 Ratios to Average Net Assets:# Expenses ............................................ 0.59% 0.59% 0.59% 0.59% 0.69% 0.86% Net Investment Income ............................... 3.01% 2.68% 3.05% 3.08% 2.89% 2.96% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.76% 0.73% 0.72% 0.73% 0.80% 0.94% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 2.84% 2.54% 2.92% 2.94% 2.78% 2.88% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 90 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Tax Free Money Market Fund ------------------------------------------------------------------ Premier Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.02 0.03 0.03 0.03 0.03 0.03 Less Dividends from Net Investment Income .......... 0.02 0.03 0.03 0.03 0.03 0.03 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ......................................... 1.52% 2.78% 3.17% 3.19% 3.12% 3.29% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 138 $ 130 $ 133 $ 105 $ 145 $ 148 Ratio to Average Net Assets:# Expenses ............................................ 0.55% 0.54% 0.53% 0.53% 0.58% 0.56% Net Investment Income ............................... 3.04% 2.74% 3.10% 3.13% 3.08% 3.21% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.60% 0.56% 0.53% 0.53% 0.73% 0.84% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 2.99% 2.72% 3.10% 3.13% 2.93% 2.93% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 91 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
Tax Free Money Market Fund ------------------------------------------------------------------ Institutional Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ................. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ............................... 0.02 0.03 0.03 0.04 0.03 0.04 Less Dividends from Net Investment Income .......... 0.02 0.03 0.03 0.04 0.03 0.04 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ....................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ......................................... 1.67% 3.07% 3.45% 3.45% 3.40% 3.53% Ratios/Supplemental Data: Net Assets, End of Period (millions) ................ $ 659 $ 476 $ 410 $ 286 $ 149 $ 108 Ratio to Average Net Assets:# Expenses ............................................ 0.26% 0.26% 0.26% 0.26% 0.31% 0.33% Net Investment Income ............................... 3.30% 3.01% 3.37% 3.41% 3.33% 3.46% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ....................... 0.40% 0.35% 0.26% 0.26% 0.31% 0.34% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ......... 3.16% 2.92% 3.37% 3.41% 3.33% 3.45% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 92 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
New York Tax Free Money Market Fund ------------------------------------------------------------------ Vista Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ............. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------ ------- ------- ------- Income from Investment Operations: Net Investment Income ........................... 0.01 0.03 0.03 0.03 0.03 0.03 Less Dividends from Net Investment Income ...... 0.01 0.03 0.03 0.03 0.03 0.03 -------- -------- ------ ------- ------- ------- Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ====== ======= ======= ======= Total Return ..................................... 1.47% 2.66% 3.03% 3.02% 2.85% 2.88% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............. $ 1,722 $1,505 $1,372 $ 957 $ 890 $ 378 Ratio to Average Net Assets:# Expenses ........................................ 0.59% 0.59% 0.59% 0.59% 0.74% 0.86% Net Investment Income ........................... 2.95% 2.61% 2.97% 2.97% 2.79% 2.84% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.70% 0.71% 0.72% 0.73% 0.83% 0.95% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 2.84% 2.49% 2.84% 2.83% 2.70% 2.75% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 93 CHASE VISTA FUNDS FINANCIAL HIGHLIGHTS (unaudited) FINANCIAL HIGHLIGHTS (unaudited)
California Tax Free Money Market Fund ------------------------------------------------------------------ Vista Shares ------------------------------------------------------------------ 9/1/99 Year Ended August 31, Through ------------------------------------------------------- 2/29/00 1999 1998 1997 1996 1995 ------- -------- -------- -------- -------- -------- Per Share Operating Performance Net Asset Value, Beginning of Period ............ $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 -------- -------- ------- ------- ------- ------- Income from Investment Operations: Net Investment Income ........................... 0.01 0.03 0.03 0.03 0.03 0.03 Less Dividends from Net Investment Income ...... 0.01 0.03 0.03 0.03 0.03 0.03 -------- -------- ------- ------- ------- ------- Net Asset Value, End of Period ................... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ======== ======== ======= ======= ======= ======= Total Return ..................................... 1.33% 2.66% 2.97% 3.02% 3.06% 3.32% Ratios/Supplemental Data: Net Assets, End of Period (millions) ............. $ 67 $ 68 $ 50 $ 46 $ 43 $ 58 Ratio of Average Net Assets:# Expenses ........................................ 0.55% 0.55% 0.55% 0.56% 0.56% 0.48% Net Investment Income ........................... 2.66% 2.55% 2.89% 2.99% 3.03% 3.25% Expenses Without Waivers, Assumption of Expenses and Earnings Credits ................... 0.93% 0.94% 0.93% 0.86% 1.02% 1.07% Net Investment Income Without Waivers, Assumption of Expenses and Earnings Credits ..... 2.28% 2.16% 2.51% 2.69% 2.57% 2.66% -----------------------------------------------------------------------------------------------------------------------
# Short periods have been annualized. See notes to financial statements. 94 [This page intentionally left blank] [This page intentionally left blank] [This page intentionally left blank] CHASE VISTA MONEY MARKET FUNDS SEMI-ANNUAL REPORT ------------------------------------------------------------------------------ Investment Adviser, Administrator, Shareholder and Fund Servicing Agent and Custodian The Chase Manhattan Bank Distributor Vista Fund Distributors, Inc. Transfer Agent DST Systems, Inc. Legal Counsel Simpson Thacher & Bartlett Independent Accountants PricwaterhouseCoopers LLP Chase Vista Funds are distributed by Vista Fund Distributors, Inc., which is unaffiliated with The Chase Manhattan Bank. Chase and its respective affiliates receive compensation from Chase Vista Funds for providing investment advisory and other services. This report is submitted for the general information of the shareholders of the funds. It is not authorized for distribution to prospective investors in the funds unless preceded or accompanied by a prospectus. The financial information in this report has been taken from the books and records of the funds without examina- tion by independent accountants, who express no opinion thereto. To obtain a prospectus for any of the Chase Vista Funds, call 1-800-34-VISTA. The prospectus contains more complete information, including charges and expenses. Please read it carefully before you investment or send money. (C) The Chase Manhattan Corporation, 2000. All Rights Reserved. April 2000 [LOGO] CHASE VISTA FUNDS(SM) Chase Vista Funds Fulfillment Center 393 Manley Street West Bridgewater, MA 02379-1039