-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MCNBEt6YD0bNAfCoPYQ9LyZ/9u9VCXYHZ3n2PtYgR7RSPwbpEP+bxQcfCmLZZ7sv 3OIL5o+RuHjn0KBWidxXOQ== 0001193125-03-014985.txt : 20030630 0001193125-03-014985.hdr.sgml : 20030630 20030630154741 ACCESSION NUMBER: 0001193125-03-014985 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030430 FILED AS OF DATE: 20030630 EFFECTIVENESS DATE: 20030630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRAVELERS SERIES FUND INC CENTRAL INDEX KEY: 0000919557 IRS NUMBER: 133767311 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-08372 FILM NUMBER: 03764356 BUSINESS ADDRESS: STREET 1: 125 BROAD STREET STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 212-291-2556 MAIL ADDRESS: STREET 1: 125 BROAD STREET STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY TRAVELERS SERIES FUND INC DATE OF NAME CHANGE: 19940613 FORMER COMPANY: FORMER CONFORMED NAME: SBA VARIABLE PRODUCTS SERIES FUND INC DATE OF NAME CHANGE: 19940228 N-CSR 1 dncsr.txt S/B TRAVELERS SERIES FUND INC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-8372 Travelers Series Fund Inc. (Exact name of registrant as specified in charter) 125 Broad Street, New York, NY 10004 (Address of principal executive offices) (Zip code) Christina T. Sydor, Esq. 300 First Stamford Place Stamford, CT 06902 (Name and address of agent for service) Registrant's telephone number, including area code: (800) 451-2010 Date of fiscal year end: October 31 Date of reporting period: April 30, 2003 ITEM 1. REPORT TO STOCKHOLDERS. The Semi-Annual Report to Stockholders is filed herewith. TRAVELERS SERIES FUND INC. SMITH BARNEY AGGRESSIVE GROWTH PORTFOLIO SMITH BARNEY MID CAP CORE PORTFOLIO SEMI-ANNUAL REPORT | APRIL 30, 2003 NOT FDIC INSURED . NOT BANK GUARANTEED . MAY LOSE VALUE WHAT'S INSIDE Letter From the Chairman............ 1 Schedules of Investments............ 2 Statements of Assets and Liabilities 10 Statements of Operations............ 11 Statements of Changes in Net Assets. 12 Notes to Financial Statements....... 14 Financial Highlights................ 18
LETTER FROM THE CHAIRMAN [PHOTO] R. JAY GERKEN Chairman, President and Chief Executive Officer Dear Shareholder, The philosopher Bertrand Russell famously remarked that, "Change is one thing, progress is another." You will notice in the following pages that we have begun to implement some changes to your shareholder report and we will be reflecting other changes in future reports. Our aim is to make meaningful improvements in reporting on the management of your Fund and its performance, not just to enact change for change's sake. Please bear with us during this transition period. I invite you to read this report in full. Please take the opportunity to talk to your financial adviser about this report or any other questions or concerns you have about your Fund and your financial future. As always, thank you for entrusting your assets to us. We look forward to helping you continue to meet your financial goals. Sincerely, /s/ R. Jay Gerken R. Jay Gerken Chairman, President and Chief Executive Officer May 27, 2003 1 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) APRIL 30, 2003 SMITH BARNEY AGGRESSIVE GROWTH PORTFOLIO
SHARES SECURITY VALUE - ---------------------------------------------------------------------------- COMMON STOCK -- 93.1% Biotechnology -- 18.3% 162,500 Alkermes, Inc.* $ 1,621,750 488,745 Amgen Inc.* 29,964,956 568,850 Chiron Corp.* 23,226,145 43,200 Genentech, Inc.* 1,641,168 Genzyme Corp.: 11,574 Biosurgery Division* 22,801 644,600 General Division* 25,964,488 165,775 ImClone Systems Inc.* 3,023,736 2,300 Nabi Biopharmaceuticals* 14,398 - ---------------------------------------------------------------------------- 85,479,442 - ---------------------------------------------------------------------------- Broadcasting/Cable -- 16.2% 1,038,275 Cablevision Systems New York Group, Class A Shares* 23,278,125 Comcast Corp.: 114,842 Class A Shares* 3,664,608 745,260 Class A Special Shares* 22,402,516 1,361,400 Liberty Media Corp., Class A Shares* 14,975,400 254,699 Viacom Inc., Class B Shares* 11,056,484 34,600 World Wrestling Entertainment, Inc.* 314,168 - ---------------------------------------------------------------------------- 75,691,301 - ---------------------------------------------------------------------------- Communications -- 1.7% 71,000 AT&T Corp. 1,210,550 161,100 C-COR.net Corp.* 549,351 384,325 Nokia Oyj ADR 6,368,265 - ---------------------------------------------------------------------------- 8,128,166 - ---------------------------------------------------------------------------- Computer Hardware -- 1.3% 509,076 Maxtor Corp.* 2,799,918 242,000 Quantum Corp. -- DLT & Storage Systems* 834,900 100,000 Sandisk Corp.* 2,420,000 - ---------------------------------------------------------------------------- 6,054,818 - ---------------------------------------------------------------------------- Computer Software/Internet -- 3.1% 730,367 AOL Time Warner Inc.* 9,991,421 75,000 DSP Group Inc.* 1,567,500 32,264 Microsoft Corp. 824,990 105,000 RSA Security Inc.* 1,006,950 75,000 Verity, Inc.* 1,239,750 - ---------------------------------------------------------------------------- 14,630,611 - ---------------------------------------------------------------------------- Diversified Technology -- 1.2% 125,000 Cabot Microelectronics Corp.* 5,402,500 12,400 Excel Technology, Inc.* 284,208 - ---------------------------------------------------------------------------- 5,686,708 - ----------------------------------------------------------------------------
See Notes to Financial Statements. 2 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY AGGRESSIVE GROWTH PORTFOLIO
SHARES SECURITY VALUE - ----------------------------------------------------------- Drug Delivery/Testing -- 1.1% 1,400 Albany Molecular Research, Inc.* $ 16,156 5,400 Cygnus, Inc.* 2,484 90,000 IMPATH Inc.* 1,323,000 296,666 King Pharmaceuticals, Inc.* 3,740,958 - ----------------------------------------------------------- 5,082,598 - ----------------------------------------------------------- Electronics - Military -- 1.8% 183,800 L-3 Communications Holdings, Inc.* 8,160,720 - ----------------------------------------------------------- Healthcare - Miscellaneous -- 0.6% 55,100 Biosite Diagnostics Inc.* 2,351,668 173,000 Nanogen, Inc.* 252,580 800 Tularik Inc.* 4,376 - ----------------------------------------------------------- 2,608,624 - ----------------------------------------------------------- Investment Banking and Other Financials -- 11.7% 33,000 Astoria Financial Corp. 825,660 72,725 CIT Group Inc. 1,481,408 380,300 Lehman Brothers Holdings Inc. 23,947,491 404,400 Merrill Lynch & Co., Inc. 16,600,620 225,000 Nasdaq-100 Index Tracking Stock* 6,176,250 153,010 Neuberger Berman Inc. 4,697,407 54,900 Roslyn Bancorp, Inc. 1,047,492 - ----------------------------------------------------------- 54,776,328 - ----------------------------------------------------------- Managed Healthcare Providers -- 6.3% 318,000 UnitedHealth Group Inc. 29,297,340 - ----------------------------------------------------------- Multi-Industry -- 2.6% 762,412 Tyco International Ltd. 11,893,627 - ----------------------------------------------------------- Oil Field Equipment/Services -- 5.5% 165,800 Core Laboratories N.V.* 1,658,000 403,150 Grant Prideco, Inc.* 4,599,941 486,450 Weatherford International, Inc.* 19,569,884 - ----------------------------------------------------------- 25,827,825 - ----------------------------------------------------------- Pharmaceuticals -- 15.6% 633,800 Forest Laboratories, Inc.* 32,780,136 280,000 ICN Pharmaceuticals, Inc. 2,450,000 408,806 IDEC Pharmaceuticals Corp.* 13,388,396 224,750 Isis Pharmaceuticals, Inc.* 1,242,868 189,448 Johnson & Johnson 10,677,289 663,905 Millennium Pharmaceuticals, Inc.* 7,302,955 12,189 Pfizer Inc. 374,812 101,200 SICOR Inc.* 1,814,516 229,400 Vertex Pharmaceuticals Inc.* 2,768,858 - ----------------------------------------------------------- 72,799,830 - -----------------------------------------------------------
See Notes to Financial Statements. 3 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY AGGRESSIVE GROWTH PORTFOLIO
SHARES SECURITY VALUE - ----------------------------------------------------------------------------------------- Semiconductors -- 3.3% 229,000 Cirrus Logic, Inc.* $ 622,880 65,000 Cree, Inc.* 1,296,750 277,334 Intel Corp. 5,102,946 634,300 Micron Technology, Inc.* 5,391,550 25,000 ParthusCeva, Inc.* 106,250 10,300 Standard Microsystems Corp.* 130,398 241,091 Teradyne, Inc.* 2,796,656 - ----------------------------------------------------------------------------------------- 15,447,430 - ----------------------------------------------------------------------------------------- Telephone Cellular -- 2.8% 709,360 AT&T Wireless Services Inc.* 4,582,466 760,000 Motorola, Inc. 6,011,600 470,000 RF Micro Devices, Inc.* 2,232,500 - ----------------------------------------------------------------------------------------- 12,826,566 - ----------------------------------------------------------------------------------------- TOTAL COMMON STOCK (Cost -- $582,560,673) 434,391,934 - ----------------------------------------------------------------------------------------- FACE AMOUNT SECURITY VALUE - ----------------------------------------------------------------------------------------- REPURCHASE AGREEMENT -- 6.9% $32,194,000 UBS PaineWebber Inc., 1.270% due 5/1/03; Proceeds at maturity -- $32,195,136; (Fully collateralized by U.S. Treasury Notes, 1.875% due 9/30/04; Market value -- $32,837,880) (Cost -- $32,194,000) 32,194,000 - ----------------------------------------------------------------------------------------- TOTAL INVESTMENTS -- 100% (Cost -- $614,754,673**) $466,585,934 - -----------------------------------------------------------------------------------------
* Non-income producing security. ** Aggregate cost for Federal income tax purposes is substantially the same. Abbreviation used in this schedule: ADR -- American Depositary Receipt See Notes to Financial Statements. 4 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY MID CAP CORE PORTFOLIO
SHARES SECURITY VALUE - ----------------------------------------------------------------------- COMMON STOCK -- 93.3% Aerospace/Defense -- 1.5% 17,605 Alliant Techsystems Inc.* $ 945,741 - ----------------------------------------------------------------------- Biotechnology -- 0.3% 3,075 iShares Nasdaq Biotechnology Index Fund 176,198 - ----------------------------------------------------------------------- Broadcast Media -- 2.2% 7,450 Entercom Communications Corp.* 361,996 15,500 Lin TV Corp.* 370,605 22,660 Univision Communications, Inc., Class A Shares* 686,145 - ----------------------------------------------------------------------- 1,418,746 - ----------------------------------------------------------------------- Building/Construction -- 0.9% 7,075 Jacobs Engineering Group, Inc.* 291,136 5,600 Lennar Corp. 303,744 - ----------------------------------------------------------------------- 594,880 - ----------------------------------------------------------------------- Business Services -- 1.9% 51,468 The Bisys Group, Inc.* 868,787 10,970 Manpower, Inc. 360,694 - ----------------------------------------------------------------------- 1,229,481 - ----------------------------------------------------------------------- Chemicals -- 4.7% 17,020 Ecolab Inc. 869,552 17,140 Engelhard Corp. 420,787 36,810 International Flavors & Fragrances Inc.+ 1,169,822 8,975 Praxair, Inc. 521,268 - ----------------------------------------------------------------------- 2,981,429 - ----------------------------------------------------------------------- Commercial Products -- 1.7% 15,350 Fastenal Co. 530,957 11,275 W.W. Grainger, Inc. 520,341 - ----------------------------------------------------------------------- 1,051,298 - ----------------------------------------------------------------------- Computer Hardware -- 0.7% 3,575 Imation Corp.* 122,623 29,050 Symbol Technologies, Inc. 317,517 - ----------------------------------------------------------------------- 440,140 - ----------------------------------------------------------------------- Computer Software -- 7.7% 9,350 Actel Corp.* 185,224 181,975 Agere Systems Inc.* 325,735 75,400 BEA Systems, Inc.* 807,534 49,100 Borland Software Corp.* 445,337 7,975 Business Objects S.A., Sponsored ADR* 173,297 8,050 Electronic Arts Inc.* 477,124
See Notes to Financial Statements. 5 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY MID CAP CORE PORTFOLIO SHARES SECURITY VALUE ------------------------------------------------------------------ Computer Software -- 7.7% (continued) 11,805 Intuit Inc.* $ 457,798 15,380 Mercury Interactive Corp.* 521,997 44,770 Network Associates, Inc.* 511,721 56,250 Quest Software, Inc. 601,875 13,950 TIBCO Software Inc. 68,774 15,650 VERTIAS Software Corp.* 344,456 ------------------------------------------------------------------ 4,920,872 ------------------------------------------------------------------ Consumer Products and Services -- 3.3% 18,615 Alberto-Culver Co., Class B Shares 887,563 12,750 Avery Dennison Corp. 675,878 11,149 Weight Watchers International, Inc.* 523,780 ------------------------------------------------------------------ 2,087,221 ------------------------------------------------------------------ Energy -- 8.6% 7,675 Ameren Corp. 314,522 17,390 Cooper Cameron Corp.* 832,285 24,565 Murphy Oil Corp. 1,023,132 14,225 Nabors Industries, Inc.* 557,620 22,740 Newfield Exploration Co.* 782,029 12,475 Puget Energy, Inc. 263,472 15,975 Smith International, Inc. 568,071 27,400 Weatherford International, Inc.* 1,102,302 ------------------------------------------------------------------ 5,443,433 ------------------------------------------------------------------ Entertainment -- 0.9% 29,750 Royal Caribbean Cruises Ltd. 552,457 ------------------------------------------------------------------ Financial Services -- 9.5% 35,225 Banknorth Group, Inc. 841,173 5,165 The Chicago Mercantile Exchange 292,029 19,325 Compass Bancshares, Inc. 651,639 22,440 Doral Financial Corp. 897,824 31,810 Investors Financial Services Corp. 693,776 15,120 M&T Bank Corp. 1,277,186 12,300 Nasdaq-100 Index Tracking Stock 337,635 24,990 National Commerce Financial Corp. 508,297 28,432 Waddell & Reed Financial, Inc., Class A Shares 568,640 ------------------------------------------------------------------ 6,068,199 ------------------------------------------------------------------ Food and Beverage -- 2.8% 7,825 Dean Foods Co.* 340,622 21,065 Hormel Foods Corp. 484,706 19,981 Pepsi Bottling Group, Inc. 410,410 16,205 Performance Food Group Co. 568,471 ------------------------------------------------------------------ 1,804,209 ------------------------------------------------------------------ See Notes to Financial Statements. 6 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY MID CAP CORE PORTFOLIO SHARES SECURITY VALUE ----------------------------------------------------------------------- Insurance -- 8.2% 27,260 Ambac Financial Group, Inc.+++ $1,590,621 10,260 Anthem, Inc.* 704,246 22,910 IPC Holdings, Ltd. 786,958 15,631 Nationwide Financial Services, Inc., Class A Shares 440,013 13,650 PartnerRe Ltd. 730,275 8,200 Stancorp Financial Group, Inc. 440,340 15,900 Willis Group Holdings Ltd. 495,921 ----------------------------------------------------------------------- 5,188,374 ----------------------------------------------------------------------- Machinery -- 0.7% 13,905 IDEX Corp. 442,874 ----------------------------------------------------------------------- Manufacturing -- 5.5% 30,900 Alliance Gaming Corp.* 493,473 11,660 American Standard Cos. Inc.* 830,075 20,425 ASML Holding N.V.* 179,944 14,930 Imax Corp.* 117,648 11,200 Lear Corp.* 445,088 5,875 Mohawk Industries, Inc.* 325,886 9,350 Navistar International Corp. 260,865 10,800 Parker-Hannifin Corp. 439,344 27,475 Smurfit-Stone Container Corp. 386,573 ----------------------------------------------------------------------- 3,478,896 ----------------------------------------------------------------------- Medical Products and Services -- 7.4% 15,310 Alcon, Inc.* 674,404 9,425 DENTSPLY International Inc. 352,966 16,515 Lincare Holdings Inc.* 501,561 27,875 Mylan Laboratories Inc. 788,026 6,995 Patterson Dental Co.* 280,989 16,475 St. Jude Medical, Inc. 864,279 12,000 Triad Hospitals, Inc.* 264,120 10,930 Universal Health Services, Inc., Class B Shares 422,663 12,022 Zimmer Holdings, Inc.* 563,832 ----------------------------------------------------------------------- 4,712,840 ----------------------------------------------------------------------- Pharmaceuticals -- 3.3% 27,380 Gilead Sciences, Inc.* 1,263,313 17,385 Teva Pharmaceutical Industries Ltd., Sponsored ADR 811,879 ----------------------------------------------------------------------- 2,075,192 ----------------------------------------------------------------------- Printing and Publishing -- 2.3% 10,735 E.W. Scripps Co. 850,749 808 The Washington Post Co. 589,032 ----------------------------------------------------------------------- 1,439,781 ----------------------------------------------------------------------- See Notes to Financial Statements. 7 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY MID CAP CORE PORTFOLIO
SHARES SECURITY VALUE - ------------------------------------------------------------------------ Real Estate Investment Trust -- 0.6% 13,672 The St. Joe Co. $ 400,590 - ------------------------------------------------------------------------ Retail -- 6.8% 8,180 Abercrombie & Fitch Co., Class A shares* 268,958 9,450 Barnes & Nobles, Inc.* 186,165 16,740 Bed Bath & Beyond Inc.* 661,397 12,590 CDW Computer Centers, Inc.* 536,838 17,525 Landry's Restaurants, Inc. 327,718 13,950 Outback Steakhouse, Inc. 498,573 52,775 PETsMART, Inc.* 798,486 5,350 Whole Foods Market, Inc. 317,576 28,050 Williams-Sonoma, Inc.* 725,934 - ------------------------------------------------------------------------ 4,321,645 - ------------------------------------------------------------------------ Technology -- 4.4% 8,420 Affiliated Computer Services, Inc., Class A shares* 401,634 8,575 Amphenol Corp.* 379,787 22,120 Exar Corp.* 326,270 23,800 Jabil Circuit, Inc.* 445,060 9,555 Microchip Technology Inc.* 198,648 38,240 Semtech Corp.* 608,016 37,275 Teradyne, Inc.* 432,390 - ------------------------------------------------------------------------ 2,791,805 - ------------------------------------------------------------------------ Telecommunications -- 0.5% 11,275 Amdocs Ltd.* 199,116 28,650 CIENA Corp.* 139,526 - ------------------------------------------------------------------------ 338,642 - ------------------------------------------------------------------------ Transportation -- 2.0% 16,550 C.H. Robinson Worldwide, Inc. 608,875 9,115 Expeditors International of Washington, Inc. 331,412 10,450 JetBlue Airways Corp.* 328,444 - ------------------------------------------------------------------------ 1,268,731 - ------------------------------------------------------------------------ Utilities -- 4.9% 20,475 KeySpan Corp. 693,488 15,985 NSTAR 690,552 21,850 Pepco Holding, Inc. 375,383 22,625 SCANA Corp. 718,118 24,150 Wisconsin Energy Corp. 635,869 - ------------------------------------------------------------------------ 3,113,410 - ------------------------------------------------------------------------ TOTAL COMMON STOCK (Cost -- $57,365,988) 59,287,084 - ------------------------------------------------------------------------
See Notes to Financial Statements. 8 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders SCHEDULES OF INVESTMENTS (UNAUDITED) (CONTINUED) APRIL 30, 2003 SMITH BARNEY MID CAP CORE PORTFOLIO
FACE AMOUNT SECURITY VALUE - -------------------------------------------------------------------------------------------- REPURCHASE AGREEMENT -- 6.7% $4,280,000 Merrill Lynch & Co., Inc., 1.250% due 5/1/03; Proceeds at maturity -- $4,280,149; (Fully collateralized by various U.S. government agency obligations, 0.000% to 4.875% due 5/9/03 to 11/15/07; Market value -- $4,365,612) (Cost -- $4,280,000) $ 4,280,000 - -------------------------------------------------------------------------------------------- TOTAL INVESTMENTS -- 100% (Cost -- $61,645,988**) $63,567,084 - --------------------------------------------------------------------------------------------
* Non-income producing security. + All or a portion of this security is segregated for open futures contracts commitments (See Note 4). ++All or a portion of this security is held as collateral for open futures contracts commitments (See Note 4). ** Aggregate cost for Federal income tax purposes is substantially the same. Abbreviation used in this schedule: ADR -- American Depositary Receipt See Notes to Financial Statements. 9 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED) APRIL 30, 2003
Smith Barney Smith Barney Aggressive Growth Mid Cap Core Portfolio Portfolio - -------------------------------------------------------------------------------------------- ASSETS: Investments, at value (Cost -- $614,754,673 and $61,645,988, respectively) $ 466,585,934 $ 63,567,084 Cash 674 883 Receivable for securities sold -- 839,120 Receivable for Fund shares sold 404,253 43,489 Dividends and interest receivable 23,978 33,227 Receivable from broker -- variation margin -- 13,500 Other receivables 61,715 5,910 - ------------------------------------------------------------------------------------------- Total Assets 467,076,554 64,503,213 - ------------------------------------------------------------------------------------------- LIABILITIES: Management fees payable 293,305 38,596 Payable for Fund shares purchased 25,559 -- Payable for securities purchased -- 1,792,460 Accrued expenses 51,788 29,168 - ------------------------------------------------------------------------------------------- Total Liabilities 370,652 1,860,224 - ------------------------------------------------------------------------------------------- Total Net Assets $ 466,705,902 $ 62,642,989 - ------------------------------------------------------------------------------------------- NET ASSETS: Par value of capital shares $ 471 $ 61 Capital paid in excess of par value 618,985,591 73,363,116 Accumulated net investment loss (974,904) -- Undistributed net investment income -- 1,560 Accumulated net realized loss from security transactions and futures contracts (3,136,517) (12,804,497) Net unrealized appreciation (depreciation) of investments and futures contracts (148,168,739) 2,082,749 - ------------------------------------------------------------------------------------------- Total Net Assets $ 466,705,902 $ 62,642,989 - ------------------------------------------------------------------------------------------- Shares Outstanding 47,139,412 6,121,139 - ------------------------------------------------------------------------------------------- Net Asset Value $9.90 $10.23 - -------------------------------------------------------------------------------------------
See Notes to Financial Statements. 10 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders STATEMENTS OF OPERATIONS (UNAUDITED) For the Six Months Ended April 30, 2003
Smith Barney Smith Barney Aggressive Growth Mid Cap Core Portfolio Portfolio - ------------------------------------------------------------------------------------------- INVESTMENT INCOME: Interest $ 170,575 $ 21,526 Dividends 636,904 236,028 Less: Foreign withholding tax (17,504) (1,032) - ----------------------------------------------------------------------------------------- Total Investment Income 789,975 256,522 - ----------------------------------------------------------------------------------------- EXPENSES: Management fees (Note 2) 1,712,371 216,208 Shareholder communications 16,135 5,434 Audit and legal 14,643 10,340 Custody 12,491 17,347 Directors' fees 5,084 1,733 Shareholder servicing fees 2,405 2,482 Other 1,750 1,418 - ----------------------------------------------------------------------------------------- Total Expenses 1,764,879 254,962 - ----------------------------------------------------------------------------------------- Net Investment Income (Loss) (974,904) 1,560 - ----------------------------------------------------------------------------------------- REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FUTURES CONTRACTS (NOTES 3 AND 4): Realized Loss From: Security transactions (excluding short-term securities) (218,541) (1,752,404) Futures contracts -- (56,245) - ----------------------------------------------------------------------------------------- Net Realized Loss (218,541) (1,808,649) - ----------------------------------------------------------------------------------------- Change in Net Unrealized Appreciation (Depreciation) of Investments and Futures Contracts: Beginning of period (186,711,871) (529,248) End of period (148,168,739) 2,082,749 - ----------------------------------------------------------------------------------------- Change in Net Unrealized Appreciation (Depreciation) 38,543,132 2,611,997 - ----------------------------------------------------------------------------------------- Net Gain on Investments and Futures Contracts 38,324,591 803,348 - ----------------------------------------------------------------------------------------- Increase in Net Assets From Operations $ 37,349,687 $ 804,908 - -----------------------------------------------------------------------------------------
See Notes to Financial Statements. 11 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders STATEMENTS OF CHANGES IN NET ASSETS For the Six Months Ended April 30, 2003 (unaudited) and the Year Ended October 31, 2002
Smith Barney Aggressive Growth Portfolio 2003 2002 - ----------------------------------------------------------------------------------- OPERATIONS: Net investment loss $ (974,904) $ (2,098,569) Net realized loss (218,541) (2,615,597) (Increase) decrease in net unrealized depreciation 38,543,132 (139,378,239) - ---------------------------------------------------------------------------------- Increase (Decrease) in Net Assets From Operations 37,349,687 (144,092,405) - ---------------------------------------------------------------------------------- FUND SHARE TRANSACTIONS (NOTE 5): Net proceeds from sale of shares 27,801,377 227,995,910 Cost of shares reacquired (13,659,904) (34,982,576) - ---------------------------------------------------------------------------------- Increase in Net Assets From Fund Share Transactions 14,141,473 193,013,334 - ---------------------------------------------------------------------------------- Increase in Net Assets 51,491,160 48,920,929 NET ASSETS: Beginning of period 415,214,742 366,293,813 - ---------------------------------------------------------------------------------- End of period* $466,705,902 $ 415,214,742 - ---------------------------------------------------------------------------------- * Includes accumulated net investment loss of: $(974,904) -- - ----------------------------------------------------------------------------------
See Notes to Financial Statements. 12 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) For the Six Months Ended April 30, 2003 (unaudited) and the Year Ended October 31, 2002
Smith Barney Mid Cap Portfolio 2003 2002 - ------------------------------------------------------------------------------------------- OPERATIONS: Net investment income (loss) $ 1,560 $ (52,082) Net realized loss (1,808,649) (8,961,877) Increase in net unrealized appreciation 2,611,997 2,519,784 - ------------------------------------------------------------------------------------------ Increase (Decrease) in Net Assets From Operations 804,908 (6,494,175) - ------------------------------------------------------------------------------------------ DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income -- (58,090) - ------------------------------------------------------------------------------------------ Decrease in Net Assets From Distributions to Shareholders -- (58,090) - ------------------------------------------------------------------------------------------ FUND SHARE TRANSACTIONS (NOTE 5): Net proceeds from sale of shares 7,385,845 32,112,318 Net asset value of shares issued for reinvestment of dividends -- 58,090 Cost of shares reacquired (2,192,203) (3,349,324) - ------------------------------------------------------------------------------------------ Increase in Net Assets From Fund Share Transactions 5,193,642 28,821,084 - ------------------------------------------------------------------------------------------ Increase in Net Assets 5,998,550 22,268,819 NET ASSETS: Beginning of period 56,644,439 34,375,620 - ------------------------------------------------------------------------------------------ End of period* $62,642,989 $56,644,439 - ------------------------------------------------------------------------------------------ * Includes undistributed net investment income of: $1,560 -- - ------------------------------------------------------------------------------------------
See Notes to Financial Statements. 13 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders NOTES TO FINANCIAL STATEMENTS (UNAUDITED) 1. Significant Accounting Policies The Smith Barney Aggressive Growth Portfolio and Smith Barney Mid Cap Core Portfolio, ("Fund(s)") are separate investment funds of the Travelers Series Fund Inc. ("Series"). The Series, a Maryland corporation, is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company and consists of these Funds and twelve other separate investment funds: Smith Barney Large Cap Value, Alliance Growth, Van Kampen Enterprise, Smith Barney International All Cap Growth, Travelers Managed Income, Putnam Diversified Income, Salomon Brothers Strategic Total Return Bond Fund, Smith Barney High Income, MFS Total Return, Smith Barney Money Market, AIM Capital Appreciation and Smith Barney Large Capitalization Growth Portfolios. Shares of the Fund are offered only to insurance company separate accounts that fund certain variable annuity and variable life insurance contracts. The financial statements and financial highlights for the other funds are presented in separate shareholder reports. The significant accounting policies followed by the Funds are: (a) security transactions are accounted for on trade date; (b) securities traded on national securities markets are valued at the closing prices in the primary exchange on which they are traded and; securities for which no sales price was reported and U.S. government agencies and obligations are valued at the mean between the bid and asked prices; (c) securities maturing within 60 days are valued at cost plus accreted discount or minus amortized premium, which approximates value; (d) securities for which market quotations are not available will be valued in good faith at fair value by or under the direction of the Board of Directors; (e) interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis; (f) dividend income is recorded on the ex-dividend date; foreign dividends are recorded on the ex-dividend date or as soon as practical after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence; (g) dividends and distributions to shareholders are recorded on the ex-dividend date; the Funds distribute dividends and capital gains, if any, annually; (h) gains or losses on the sale of securities are calculated by using the specific identification method; (i) the accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities denominated 14 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED) in foreign currencies are translated into U.S. dollars based on the rate of exchange of such currencies against U.S. dollars on the date of valuation. Purchases and sales of securities, and income and expenses are translated at the rate of exchange quoted on the respective date that such transactions are recorded. Differences between income or expense amounts recorded and collected or paid are adjusted when reported by the custodian; (j) the character of income and gains to be distributed are determined in accordance with income tax regulations which may differ from accounting principles generally accepted in the United States of America; (k) the Funds intend to comply with the applicable provisions of the Internal Revenue Code of 1986, as amended, pertaining to regulated investment companies and to make distributions of taxable income sufficient to relieve it from substantially all Federal income and excise taxes; and (l) estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ. 2. Management Agreement and Transactions with Affiliated Persons Smith Barney Fund Management LLC ("SBFM"), an indirect wholly-owned subsidiary of Citigroup Inc. ("Citigroup") acts as investment manager of the Smith Barney Aggressive Growth Portfolio ("SBAG") and Smith Barney Mid Cap Core Portfolio ("SBMCC"). SBAG and SBMCC pay SBFM a management fee calculated at the annual rates of 0.80% and 0.75%, respectively, of the average daily net assets of each Fund. These fees are calculated daily and paid monthly. Citicorp Trust Bank, fsb. ("CTB"), another subsidiary of Citigroup, acts as the Funds' transfer agent and PFPC Global Fund Services ("PFPC") acts as the Funds' sub-transfer agent. CTB receives account fees and asset-based fees that vary according to the size and type of account. PFPC is responsible for shareholder recordkeeping and financial processing for all shareholder accounts and is paid by CTB. For the six months ended April 30, 2003, each Fund paid transfer agent fees of $2,500 to CTB. 15 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED) For the six months ended April 30, 2003, Citigroup Global Markets Inc. ("CGM"), formerly known as Salomon Smith Barney Inc., another indirect wholly-owned subsidiary of Citigroup, received brokerage commissions totaling $5,061. Most of the officers and one Director of the Series are employees of Citigroup or its affiliates. 3. Investments During the six months ended April 30, 2003, the aggregate cost of purchases and proceeds from sales of investments (including maturities of long-term securities, but excluding short-term securities) were as follows: SBAG SBMCC - --------------------------------------------------------------- Purchases $6,422,032 $24,010,377 - -------------------------------------------------------------- Sales 865,441 17,401,384 - -------------------------------------------------------------- At April 30, 2003, the aggregate gross unrealized appreciation and depreciation of investments for Federal income tax purposes were substantially as follows: SBAG SBMCC - -------------------------------------------------------------------- Gross unrealized appreciation $ 38,187,162 $ 5,125,936 Gross unrealized depreciation (186,355,901) (3,204,840) - ------------------------------------------------------------------- Net unrealized appreciation (depreciation) $(148,168,739) $ 1,921,096 - ------------------------------------------------------------------- 4. Futures Contracts Initial margin deposits made upon entering into futures contracts are recognized as assets. Securities equal to the initial margin amount are segregated by the custodian in the name of the broker. Additional securities are also segregated up to the current market value of the futures contract. During the period the futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by "marking to market" on a daily basis to reflect the market value of the contract at the end of each day's trading. Variation margin payments are received or made and recognized as assets due from or liabilities due to broker, depending upon whether unrealized gains or losses are incurred. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transactions and the Fund's basis in the contract. 16 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED) The Funds enter into such contracts to hedge a portion of their portfolio. The Funds bear the market risk that arise from changes in the value of the financial instruments and securities indices (futures contracts). At April 30, 2003, SBMCC had the following open futures contracts:
Number of Basis Market Unrealized Contracts Expiration Value Value Gain -------------------------------------------------------------------- To Buy: S&P MidCap 400 12 6/03 $2,470,847 $2,632,500 $161,653 --------------------------------------------------------------------
At April 30, 2003, SBAG did not hold any futures contracts. 5. Capital Shares At April 30, 2003, the Series had six billion shares of capital stock authorized with a par value of $0.00001 per share. Each share of a Fund represents an equal proportionate interest in that Fund with each other share of the same Fund and has an equal entitlement to any dividends and distributions made by the Fund. Transactions in shares of each Fund were as follows: Six Months Ended Year Ended April 30, 2003 October 31, 2002 -------------------------------------------------------------------------- Smith Barney Aggressive Growth Portfolio Shares sold 2,958,564 19,660,697 Shares reacquired (1,502,675) (3,715,768) -------------------------------------------------------------------------- Net Increase 1,455,889 15,944,929 -------------------------------------------------------------------------- Smith Barney Mid Cap Core Portfolio Shares sold 740,312 2,750,365 Shares issued on reinvestment -- 5,832 Shares reacquired (226,197) (322,317) -------------------------------------------------------------------------- Net Increase 514,115 2,433,880 -------------------------------------------------------------------------- 17 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders FINANCIAL HIGHLIGHTS For a share of capital stock outstanding throughout the year ended October 31, unless otherwise noted:
Smith Barney Aggressive Growth Portfolio 2003/(1)/ 2002 2001 2000/(2)(3)/ - ------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period $9.09 $12.32 $15.03 $10.00 - ----------------------------------------------------------------------------------------------- Income (Loss) From Operations: Net investment loss (0.02) (0.05) (0.05) (0.03) Net realized and unrealized gain (loss) 0.83 (3.18) (2.66) 5.07 - ----------------------------------------------------------------------------------------------- Total Income (Loss) From Operations 0.81 (3.23) (2.71) 5.04 - ----------------------------------------------------------------------------------------------- Less Distributions From: Capital -- -- -- (0.01) - ----------------------------------------------------------------------------------------------- Total Distributions -- -- -- (0.01) - ----------------------------------------------------------------------------------------------- Net Asset Value, End of Period $9.90 $ 9.09 $12.32 $15.03 - ----------------------------------------------------------------------------------------------- Total Return 8.91%++ (26.22)% (18.03)% 50.41% - ----------------------------------------------------------------------------------------------- Net Assets, End of Period (000s) $466,706 $415,215 $366,294 $164,553 - ----------------------------------------------------------------------------------------------- Ratios to Average Net Assets: Expenses/(4)/ 0.82%+ 0.83% 0.84% 0.99% Net investment loss (0.46)+ (0.50) (0.40) (0.21) - ----------------------------------------------------------------------------------------------- Portfolio Turnover Rate 0% 9% 3% 0% - -----------------------------------------------------------------------------------------------
(1) For the six months ended April 30, 2003 (unaudited). (2) For the period from November 1, 1999 (commencement of operations) to October 31, 2000. (3) Per share amounts have been calculated using the monthly average shares method. (4) As a result of a voluntary expense limitation, the expense ratio will not exceed 1.00%. ++ Total return is not annualized, as it may not be representative of the total return for the year. + Annualized. 18 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders FINANCIAL HIGHLIGHTS (CONTINUED) For a share of capital stock outstanding throughout the year ended October 31, unless otherwise noted:
Smith Barney Mid Cap Core Portfolio 2003/(1)/ 2002 2001 2000/(2)/ - ----------------------------------------------------------------------------------- Net Asset Value, Beginning of Period $10.10 $10.83 $14.22 $10.00 - --------------------------------------------------------------------------------- Income (Loss) From Operations: Net investment income (loss)/(3)/ 0.00* (0.02) 0.02 0.06 Net realized and unrealized gain (loss) 0.13 (0.70) (3.36) 4.17 - --------------------------------------------------------------------------------- Total Income (Loss) From Operations 0.13 (0.72) (3.34) 4.23 - --------------------------------------------------------------------------------- Less Distributions From: Net investment income -- (0.01) (0.05) (0.01) - --------------------------------------------------------------------------------- Total Distributions -- (0.01) (0.05) (0.01) - --------------------------------------------------------------------------------- Net Asset Value, End of Period $10.23 $10.10 $10.83 $14.22 - --------------------------------------------------------------------------------- Total Return 1.29%++ (6.64)% (23.56)% 42.36% - --------------------------------------------------------------------------------- Net Assets, End of Period (000s) $62,643 $56,644 $34,376 $17,498 - --------------------------------------------------------------------------------- Ratios to Average Net Assets: Expenses/(3)(4)/ 0.88%+ 0.90% 0.95% 0.95% Net investment income (loss) 0.01+ (0.10) 0.25 0.72 - --------------------------------------------------------------------------------- Portfolio Turnover Rate 32% 79% 45% 61% - ---------------------------------------------------------------------------------
(1) For the six months ended April 30, 2003 (unaudited). (2) For the period from November 1, 1999 (commencement of operations) to October 31, 2000. (3) The manager has agreed to waive a portion of its management fee for the year ended October 31, 2001 and the period ended October 31, 2000. If such fees were not waived, the per share decreases to net investment income and the actual expense ratios would have been as follows: Per Share Decreases to Expense Ratios Net Investment Income Without Fee Waivers ------------------- ----------------- 2001 $0.00* 0.96% 2000 0.04 1.46 (4) As a result of a voluntary expense limitation, the expense ratio will not exceed 0.95%. * Amount represents less than $0.01 per share. ++ Total return is not annualized, as it may not be representative of the total return for the year. + Annualized. 19 Travelers Series Fund Inc. | 2003 Semi-Annual Report to Shareholders TRAVELERS SERIES FUND INC. DIRECTORS INVESTMENT MANAGER A.E. Cohen Smith Barney Fund Management LLC Robert A. Frankel Michael Gellert CUSTODIAN R. Jay Gerken, Chairman State Street Bank and Rainer Greeven Trust Company Susan M. Heilbron ANNUITY OFFICERS ADMINISTRATION R. Jay Gerken Travelers Annuity Investor Services President and Chief 5 State House Square Executive Officer 1 Tower Square Hartford, CT 06183 Lewis E. Daidone Senior Vice President and Chief Administrative Officer Richard L. Peteka Chief Financial Officer and Treasurer Richard A. Freeman Vice President and Investment Officer Lawrence B. Weissman Vice President and Investment Officer Kaprel Ozsolak Controller Christina T. Sydor Secretary Travelers Series Fund Inc. This report is submitted for the general information of the shareholders of the Travelers Series Fund Inc. -- Smith Barney Aggressive Growth Portfolio and Smith Barney Mid Cap Core Portfolio. It is not authorized for distribution to prospective investors unless accompanied or preceded by a current Prospectus for the Funds, which contains information concerning the Funds' investment policies and expenses as well as other pertinent information. TRAVELERS SERIES FUND INC. 125 Broad Street 10th Floor, MF-2 New York, New York 10004 IN0896 6/03 03-4964 ITEM 2. CODE OF ETHICS. Not applicable. ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. Not applicable. ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. Not applicable. ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. Not applicable. ITEM 6. [RESERVED] ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. Not applicable. ITEM 8. [RESERVED] ITEM 9. CONTROLS AND PROCEDURES. (a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended) are effective based on their evaluation of the disclosure controls and procedures as of a date within 90 days of the filing date of this document. (b) In the last 90 days, there have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect these controls. ITEM 10. EXHIBITS. (a) Not applicable. (b) Attached hereto. Exhibit 99.CERT Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 Exhibit 99.906CERT Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized. Travelers Series Fund Inc. By: /s/ R. Jay Gerken R. Jay Gerken Chief Executive Officer of Travelers Series Fund Inc. Date: June 27, 2003 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ R. Jay Gerken (R. Jay Gerken) Chief Executive Officer of Travelers Series Fund Inc. Date: June 27, 2003 By: /s/ RICHARD PETEKA Chief Financial Officer of Travelers Series Fund Inc. Date: June 27, 2003 EX-99.CERT 3 dex99cert.txt CERTIFICATION PURSUANT TO SECTION 302 CERTIFICATIONS PURSUANT TO SECTION 302 EX-99.CERT CERTIFICATIONS -------------- I, R. Jay Gerken, certify that: 1. I have reviewed this report on Form N-CSR of Travelers Series Fund Inc. - SmithBarney Aggressive Growth Portfolio; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: June 27, 2003 /s/ R. Jay Gerken ----------------- ------------------------------------- R. Jay Gerken Chief Executive Officer I, Richard Peteka, certify that: 1. I have reviewed this report on Form N-CSR of the Travelers Series Fund Inc. - Smith Barney Aggressive Growth Portfolio; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial information included in this report, and the financial statements on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: June 27, 2003 /s/ Richard Peteka ----------------- ------------------------------------- Richard Peteka Chief Financial Officer CERTIFICATIONS PURSUANT TO SECTION 302 EX-99.CERT CERTIFICATIONS -------------- I, R. Jay Gerken, certify that: 1. I have reviewed this report on Form N-CSR of Travelers Series Fund Inc. - Smith Barney Mid Cap Core Portfolio; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: June 27, 2003 /s/ R. Jay Gerken ------------- ------------------------------------- R. Jay Gerken Chief Executive Officer I, Richard Peteka, certify that: 1. I have reviewed this report on Form N-CSR of the Travelers Series Fund Inc. - Smith Barney Mid Cap Core Portfolio; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial information included in this report, and the financial statements on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: June 27, 2003 /s/ Richard Peteka ------------- ------------------------------------- Richard Peteka Chief Financial Officer EX-99.906CERT 4 dex99906cert.txt CERTIFICATION PURSUANT TO SECTION 906 CERTIFICATIONS PURSUANT TO SECTION 906 EX-99.906CERT CERTIFICATION R. Jay Gerken, Chief Executive Officer, and Richard Peteka, Chief Financial Officer of the Travelers Series Fund Inc. - Smith Barney Aggressive Growth Portfolio, each certify to the best of his or her knowledge that: 1. The Registrant's periodic report on Form N-CSR for the period ended April 30, 2003 (the "Form N-CSR") fully complies with the requirements of section 15(d) of the Securities Exchange Act of 1934, as amended; and 2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Chief Executive Officer Chief Financial Officer Travelers Series Fund Inc. - Travelers Series Fund Inc. - Smith Barney Aggressive Smith Barney Aggressive Growth Portfolio Growth Portfolio /s/ R. Jay Gerken /s/ Richard Peteka - --------------------------- ---------------------------- R. Jay Gerken Richard Peteka Date: June 27, 2003 Date: June 27, 2003 A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Travelers Series Fund Inc. - Smith Barney Aggressive Growth Portfolio and will be retained by Travelers Series Fund Inc. - Smith Barney Aggressive Growth Portfolio and furnished to the Securities and Exchange Commission or its staff upon request. This certification is being furnished to the Commission solely pursuant to 18 U.S.C. (S) 1350 and is not being filed as part of the Form N-CSR with the Commission. CERTIFICATIONS PURSUANT TO SECTION 906 EX-99.906CERT CERTIFICATION R. Jay Gerken, Chief Executive Officer, and Richard Peteka, Chief Financial Officer of the Travelers Series Fund Inc. - Smith Barney Mid Cap Core Portfolio, each certify to the best of his or her knowledge that: 1. The Registrant's periodic report on Form N-CSR for the period ended April 30, 2003 (the "Form N-CSR") fully complies with the requirements of section 15(d) of the Securities Exchange Act of 1934, as amended; and 2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Chief Executive Officer Chief Financial Officer Travelers Series Fund Inc. - Travelers Series Fund Inc. - Smith Barney Mid Cap Core Portfolio Smith Barney Mid Cap Core Portfolio /s/ R. Jay Gerken /s/ Richard Peteka - --------------------------- ---------------------------- R. Jay Gerken Richard Peteka Date: June 27, 2003 Date: June 27, 2003 A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Travelers Series Fund Inc. - Smith Barney Mid Cap Core Portfolio and will be retained by Travelers Series Fund Inc. - - Smith Barney Mid Cap Core Portfolio and furnished to the Securities and Exchange Commission or its staff upon request. This certification is being furnished to the Commission solely pursuant to 18 U.S.C. (S) 1350 and is not being filed as part of the Form N-CSR with the Commission. -----END PRIVACY-ENHANCED MESSAGE-----