0001752724-20-049392.txt : 20200316
0001752724-20-049392.hdr.sgml : 20200316
20200316091056
ACCESSION NUMBER: 0001752724-20-049392
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20191231
FILED AS OF DATE: 20200316
DATE AS OF CHANGE: 20200316
EFFECTIVENESS DATE: 20200316
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BISHOP STREET FUNDS
CENTRAL INDEX KEY: 0000925737
IRS NUMBER: 000000000
STATE OF INCORPORATION: MA
FISCAL YEAR END: 0930
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-08572
FILM NUMBER: 20715505
BUSINESS ADDRESS:
STREET 1: 1FREEDOM VALLEY DRIVE
CITY: OAKS
STATE: PA
ZIP: 19087-1693
BUSINESS PHONE: 610 767-3204
MAIL ADDRESS:
STREET 1: 1FREEDOM VALLEY DRIVE
CITY: OAKS
STATE: PA
ZIP: 19087-1693
0000925737
S000005797
HAWAII MUNICIPAL BOND FUND
C000015930
CLASS I SHARES
BSHIX
C000015931
CLASS A SHARES
BHIAX
0000925737
S000005798
HIGH GRADE INCOME FUND
C000015932
CLASS I SHARES
BSHGX
0000925737
S000011779
DIVIDEND VALUE FUND
C000032215
CLASS I SHARES
BSLIX
0000925737
S000053720
BISHOP STREET SHORT-DURATION BOND FUND
C000168885
CLASS I SHARES
BSSDX
N-CEN
1
primary_doc.xml
X0201
N-CEN
LIVE
0000925737
XXXXXXXX
811-08572
N-1A
true
BISHOP STREET FUNDS
811-08572
0000925737
549300PJBGM1ITQUV329
ONE FREEDOM VALLEY DRIVE
OAKS
19456
US-PA
US
610-767-3204
MUFG Union Bank N.A.
400 California Street
16th floor
San Francisco
94104
415-785-3434
Records as Custodian of Trust
SEI INVESTMENTS FUND MANAGEMENT
1 Freedom Valley Drive
OAKS
19456
610-676-1000
Records as Administrator of Trust
SEI Investments Distribution Co.
One Freedom Valley Drive
Oaks
19456
610-676-1000
Records as Distributor for Trust
BISHOP STREET CAPITAL MANAGEMENT
999 Bishop St
Honolulu
96813
808-525-6246
Records as Advisor for Trust
DST Systems, Inc.
333 W 11th St
Kansas City
64105
816-435-1000
Records as Transfer Agent for Trust
N
N
N
N-1A
2
Y
Mitchell A. Johnson
N/A
N
Jeffrey Klauder
N/A
Y
Joseph Grause Jr.
N/A
N
George J. Sullivan Jr.
N/A
N
Robert A. Nesher
N/A
Y
Bruce Speca
N/A
N
Betty Krikorian
N/A
N
Russell Emery
N/A
1 Freedom Valley Drive
Oaks
19456
XXXXXX
N
N
N
N
N
N
SEI INVESTMENTS DISTRIBUTION CO.
8-27897
000010690
N/A
N
N
PRICEWATERHOUSECOOPERS, LLP
238
5493009NI73B74CHXG16
N
N
N
N
N
N
N
Bishop Street High Grade Income Fund
S000005798
549300F8IUTWXEVY2M80
N
1
0
0
N/A
N
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
BISHOP STREET CAPITAL
801-57217
000108042
549300RTRPUBPLFQ3R43
N
DST SYSTEMS, INC.
084-00448
21B7QCD05XOK0YTYOP98
N
N
N
Bloomberg
254900BF4G8VMW8GG471
N
IHS Markit
549300HLPTRASHS0E726
GB
N
Pricing Direct
549300WIC0TOJ7N7GD54
N
Thomson Reuters Corporation
549300561UZND4C7B569
CA
N
S&P
549300U4VWNITEKO2881
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
N
MUFG Union Bank N.A.
OX3PU53ZLPQKJ4700D47
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
DST SYSTEMS, INC.
21B7QCD05XOK0YTYOP98
N
N
N
SEI INVESTMENTS GLOBAL FUNDS SERVICES
801-24593
SEC File Number
N
N
N
SEI INVESTMENTS DISTRIBUTIONS COMPANY
8-27897
000010690
N/A
0
0
RBC DAIN RAUSCHER, INC.
008-45411
000031194
549300LCO2FLSSVFFR64
804253.5
STIFEL FINANCIAL CORPORATION
008-01447
000000793
5WUVMA08EYG4KEUPW589
560549.05
BANK OF OKLAHOMA
8-35381
000017530
GRI2NT5QHYW751NMR949
591753.48
BNY BROKERAGE
8-46838
000035693
N/A
549956
MILLENNIUM ADVISORS
8-68349
000117868
254900E1P6Z2XZYSA163
677402.3
FTN FINANCIAL
008-51393
000046346
PHDL2C07HIPM5DUL8S59
4320138.01999999
CITIGROUP GLOBAL MARKETS
008-08177
000007059
MBNUM2BPBDO7JBLYG310
514620
TD SECURITIES
008-36747
000018476
5493006RJSLS5DA4PD75
803837.6
INSTINET
008-23669
000007897
549300MGMN3RKMU8FT57
419992
ZIONS FIRST NATIONAL BANK
N/A
N/A
8WH0EE09O9V05QJZ3V89
523543.09
12610786.93
Y
36850256.329999991
Committed
5000000
N
N
N
N
Bishop Street Hawaii Municipal Bond Fund
S000005797
549300I7BSO1QBX8Y786
N
2
0
0
N/A
Y
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
BISHOP STREET CAPITAL
801-57217
000108042
549300RTRPUBPLFQ3R43
N
DST SYSTEMS, INC.
084-00448
21B7QCD05XOK0YTYOP98
N
N
N
Thomson Reuters Corporation
549300561UZND4C7B569
CA
N
S&P
549300U4VWNITEKO2881
N
IHS Markit
549300HLPTRASHS0E726
GB
N
Bloomberg
254900BF4G8VMW8GG471
N
Pricing Direct
549300WIC0TOJ7N7GD54
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
N
MUFG Union Bank N.A.
OX3PU53ZLPQKJ4700D47
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
DST SYSTEMS, INC.
21B7QCD05XOK0YTYOP98
N
N
N
SEI INVESTMENTS GLOBAL FUNDS SERVICES
801-24593
SEC File Number
N
N
N
SEI INVESTMENTS GLOBAL FUNDS SERVICES
008-27897
000010690
N/A
0
0
BANK OF AMERICA SECURITIES
008-69787
000283942
549300HN4UKV1E2R3U73
5962849.34999999
STIFEL FINANCIAL CORPORATION
008-01447
000000793
5WUVMA08EYG4KEUPW589
8777056.75
WACHOVIA CAPITAL MARKETS
008-65876
000126292
VYVVCKR63DVZZN70PB21
2378099.75
MERRILL LYNCH
008-07221
000007691
8NAV47T0Y26Q87Y0QP81
1615615.25
RAYMOND JAMES
008-10999
000000705
U4ONQX15J3RO8XCKE979
1330928
PERSHING LLC
008-17574
000007560
ZI8Q1A8EI8LQFJNM0D94
2019904.8
GOLDMAN SACHS & CO.
008-00129
000000361
FOR8UP27PHTHYVLBNG30
1085074.5
MORGAN STANLEY & CO. LLC
008-15869
000008209
9R7GPTSO7KV3UQJZQ078
2061483.9
RBC DAIN RAUSCHER, INC.
008-45411
000031194
549300LCO2FLSSVFFR64
823640
BANK OF OKLAHOMA
8-35381
000017530
GRI2NT5QHYW751NMR949
47144894.7
83952257.65
Y
126857912.97999999
Committed
5000000
N
N
N
N
false
false
true
false
false
false
INTERNAL CONTROL RPT
2
BS_N-CEN_12.31.19.txt
INTERNAL CONTROL LETTER
Report of Independent Registered Public Accounting
Firm
To the Board of Trustees of Bishop Street Funds and
Shareholders of High Grade Income Fund and Hawaii
Municipal Bond Fund
In planning and performing our audit of the
financial statements of High Grade Income Fund and
Hawaii Municipal Bond Fund (constituting Bishop
Street Funds, hereafter collectively referred to as
the Funds) as of and for the year ended December 31,
2019, in accordance with the standards of the Public
Company Accounting Oversight Board (United States)
(PCAOB), we considered the Funds internal control
over financial reporting, including controls over
safeguarding securities, as a basis for designing
our auditing procedures for the purpose of
expressing our opinion on the financial statements
and to comply with the requirements of Form N-CEN,
but not for the purpose of expressing an opinion on
the effectiveness of the Funds internal control over
financial reporting. Accordingly, we do not express
an opinion on the effectiveness of the Funds
internal control over financial reporting.
The management of the Funds are responsible for
establishing and maintaining effective internal
control over financial reporting. In fulfilling this
responsibility, estimates and judgments by
management are required to assess the expected
benefits and related costs of controls. A companys
internal control over financial reporting is a
process designed to provide reasonable assurance
regarding the reliability of financial reporting and
the preparation of financial statements for external
purposes in accordance with generally accepted
accounting principles. A companys internal control
over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of
the assets of the company; (2) provide reasonable
assurance that transactions are recorded as
necessary to permit preparation of financial
statements in accordance with generally accepted
accounting principles, and that receipts and
expenditures of the company are being made only in
accordance with authorizations of management and
directors of the company; and (3) provide reasonable
assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of a
companys assets that could have a material effect on
the financial statements.
Because of its inherent limitations, internal
control over financial reporting may not prevent or
detect misstatements. Also, projections of any
evaluation of effectiveness to future periods are
subject to the risk that controls may become
inadequate because of changes in conditions, or that
the degree of compliance with the policies or
procedures may deteriorate.
A deficiency in internal control over financial
reporting exists when the design or operation of a
control does not allow management or employees, in
the normal course of performing their assigned
functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency,
or a combination of deficiencies, in internal
control over financial reporting, such that there is
a reasonable possibility that a material
misstatement of the companys annual or interim
financial statements will not be prevented or
detected on a timely basis.
Our consideration of the Funds internal control over
financial reporting was for the limited purpose
described in the first paragraph and would not
necessarily disclose all deficiencies in internal
control over financial reporting that might be
material weaknesses under standards established by
the PCAOB. However, we noted no deficiencies in the
Funds internal control over financial reporting and
its operation, including controls over safeguarding
securities, that we consider to be a material
weakness as defined above as of December 31, 2019.
This report is intended solely for the information
and use of the Board of Trustees of Bishop Street
Funds and the Securities and Exchange Commission and
is not intended to be and should not be used by
anyone other than these specified parties.
/s/ PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
February 27, 2020
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