As filed with the Securities and Exchange Commission on March 7, 1996
1933 Act File No. 2-14213; 1940 Act File No. 811-0816
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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _X__
Pre-Effective Amendment No.____ ____
Post-Effective Amendment No._74_ _X__
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 _X__
Amendment No._74_
(check appropriate box or boxes.)
TWENTIETH CENTURY INVESTORS, INC.
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(Exact Name of Registrant as Specified in Charter)
Twentieth Century Tower, 4500 Main Street, Kansas City, MO 64111
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code: 816-531-5575
James E. Stowers III
Twentieth Century Tower, 4500 Main Street, Kansas City, MO 64111
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(Name and address of Agent for service)
Approximate Date of Proposed Public Offering: 3/1/96
It is proposed that this filing will become effective (check appropriate box)
__X_ immediately upon filing pursuant to paragraph (b) of Rule 485
____ on (date) pursuant to paragraph (b) of Rule 485
____ 60 days after filing pursuant to paragraph (a) of Rule 485
____ on (date) pursuant to paragraph (a)(1) of Rule 485
____ 75 days after filing pursuant to paragraph (a)(2) of Rule 485
____ on (date) after filing pursuant to paragraph (a)(2) of Rule 485
The Registrant has registered an indefinite number or amount of securities under
the Securities Act of 1933 pursuant to Rule 24f-2. The Rule 24f-2 notice for the
fiscal year ending October 31, 1995, was filed on November 14, 1995.
<PAGE>
================================================================================
CROSS REFERENCE SHEET
================================================================================
[filed as a part of Post-Effective Amendment #73 to the Registration Statement
on Form N-1A of the Registrant, Commission File No. 2-14213, filed on February
29, 1996, and incorporated herein by reference.]
<PAGE>
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PART A. - Prospectus
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[filed as a part of Post-Effective Amendment #73 to the Registration Statement
on Form N-1A of the Registrant, Commission File No. 2-14213, filed on February
29, 1996, and incorporated herein by reference.]
<PAGE>
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PART B. - Statement of Additional Information
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[filed as a part of Post-Effective Amendment #73 to the Registration Statement
on Form N-1A of the Registrant, Commission File No. 2-14213, filed on February
29, 1996, and incorporated herein by reference.]
<PAGE>
PART C. OTHER INFORMATION.
ITEM 24. Financial Statements and Exhibits.
(a) Financial Statements
(i) Financial Statements filed in Part A of the Registration Statement:
1. Financial Highlights.
(ii) Financial Statements filed in Part B of the Registration Statement
(each of the following financial statements is contained in the
Registrant's Annual Reports dated October 31, 1995. (9)
1. Statement of Assets and Liabilities at October 31, 1995.
2. Statement of Operations for the year ended October 31, 1995.
3. Statements of Changes in Net Assets for the year ended October
31, 1995.
4. Notes to Financial Statements as of October 31, 1995.
5. Schedule of Investments at October 31, 1995.
6. Report of Independent Certified Public Accountants dated
November 27, 1995.
(b) Exhibits (all footnoted exhibits being incorporated herein by
reference)
1. (a) Articles of Incorporation of Twentieth Century Investors,
Inc., dated July 2, 1990. (11)
(b) Articles of Amendment of Twentieth Century Investors, Inc.,
dated November 20, 1990. (11)
(c) Articles of Merger of Twentieth Century Investors, Inc., a
Maryland corporation and Twentieth Century Investors, Inc.,
a Delaware corporation, dated February 22, 1991. (11)
(d) Articles of Amendment of Twentieth Century Investors, Inc.,
dated August 11, 1993. (11)
(e) Articles Supplementary of Twentieth Century Investors, Inc.,
dated September 3, 1993. (11)
(f) Articles Supplementary of Twentieth Century Investors, Inc.,
dated April 28, 1995. (11)
(g) Articles Supplementary of Twentieth Century Investors, Inc.,
dated November 17, 1995. (11)
(h) Articles Supplementary of Twentieth Century Investors, Inc.,
dated January 30, 1996. (11)
2. By-laws of Twentieth Century Investors, Inc. (11)
3. Voting Trust Agreements - None.
4. Specimen copy of stock certificate - all series. (1)
5. Management Agreement between Twentieth Century Investors, Inc.
and Investors Research Corporation dated August 1, 1994.(2)
6. Underwriting Agreements - None.
7. Bonus and Profit Sharing Plan, Etc. - None.
8. (a) Custodian Agreement between Twentieth Century Investors, Inc.
and United States Trust Company of New York. (3)
(b) Letter Re Remuneration dated May 8, 1985. (4)
(c) Letter Agreement between Twentieth Century Investors, Inc.
and United States Trust Company of New York dated February
28, 1991. (1)
(d) Custodian Agreement between Twentieth Century Investors, Inc.
and First National Bank of Kansas City. (5)
(e) Letter Agreement between Twentieth Century Investors, Inc.
and Boatmen's First National Bank of Kansas City. (1)
(f) Custodian Agreement dated September 21, 1994 for ACH
transactions, between Twentieth Century Investors, Inc. and
United Missouri Bank of Kansas City, N.A. (6)
(g) Custody Agreement dated September 12, 1995, between UMB Bank,
N.A., Investors Research Corporation, Twentieth Century
Investors, Inc., Twentieth Century World Investors, Inc.,
Twentieth Century Premium Reserves, Inc. and Twentieth
Century Capital Portfolios, Inc. (7)
(h) Amendment No. 1 to Custody Agreement dated January 25, 1996,
between UMB Bank, N.A., Investors Research Corporation,
Twentieth Century Investors, Inc., Twentieth Century World
Investors, Inc., Twentieth Century Premium Reserves, Inc.,
Twentieth Century Capital Portfolios, Inc. and Twentieth
Century Strategic Asset Allocations, Inc. (7)
9. Transfer Agency Agreement between Twentieth Century Investors,
Inc. and Twentieth Century Services, Inc. (8)
10. Opinion and Consent of Counsel (EX-99.B10)
11. Consent of Baird, Kurtz & Dobson (EX-99.B11)
12. Equity Funds and Fixed Income Funds Annual Reports, dated
October 31, 1995. (9)
13. Agreements for Initial Capital, Etc. - None.
14. Model Retirement Plans. (10)
15. Copy of Rule 12b-1 plan - None.
16. Schedules For Computation of Advertising Performance Quotations.
(11)
17. Power of Attorney. (11)
27. (a) Financial Data Schedule for Growth Investors. (11)
(b) Financial Data Schedule for Select Investors. (11)
(c) Financial Data Schedule for Ultra Investors. (11)
(d) Financial Data Schedule for Vista Investors. (11)
(e) Financial Data Schedule for Giftrust Investors. (11)
(f) Financial Data Schedule for U.S. Governments Short-Term.
(11)
(g) Financial Data Schedule for Cash Reserve. (11)
(h) Financial Data Schedule for Long-Term Bond. (11)
(i) Financial Data Schedule for Tax-Exempt Intermediate-Term.
(11)
(j) Financial Data Schedule for Tax-Exempt Long-Term. (11)
(k) Financial Data Schedule for Heritage Investors. (11)
(l) Financial Data Schedule for Balanced Investors. (11)
(m) Financial Data Schedule for Tax-Exempt Short-Term. (11)
(n) Financial Data Schedule for Limited-Term. (11)
(o) Financial Data Schedule for Intermediate-Term. (11)
(p) Financial Data Schedule for U.S. Governments
Intermediate-Term. (11)
ITEM 25. Persons Controlled by or Under Common Control with Registrant - None.
ITEM 26. Mumber of Holders of Securities
Title of Class Number of Record Holders
as of December 31, 1995
Twentieth Century Growth Investors 325,254
Twentieth Century Select Investors 305,296
Twentieth Century Ultra Investors 840,365
Twentieth Century U.S. Governments Short Term 28,088
Twentieth Century Vista Investors 142,841
Twentieth Century Giftrust Investors 201,120
Twentieth Century Cash Reserve 124,940
Twentieth Century Long-Term Bond 13,318
Twentieth Century Tax-Exempt Short Term 1,376
Twentieth Century Tax-Exempt Intermediate Term 2,675
Twentieth Century Tax-Exempt Long Term 1,927
Twentieth Century Heritage Investors 98,036
Twentieth Century Balanced Investors 64,760
Twentieth Century Limited Term Bond 372
Twentieth Century Intermediate Term Bond 831
Twentieth Century U.S. Governments Intermediate Term 1,135
ITEM 27. Indemnification.
The Corporation is a Maryland corporation. Section 2-418 of the General
Corporation Law of Maryland allows a Maryland corporation to indemnify its
directors, officers, employees and agents to the extent provided in such
statute.
Article Eighth of the Articles of Incorporation requires the
indemnification of the corporation's directors and officers to the extent
permitted by the General Corporation Law of Maryland, the Investment
Company Act and all other applicable laws.
The registrant has purchased an insurance policy insuring its officers and
directors against certain liabilities which such officers and directors may
incur while acting in such capacities and providing reimbursement to the
registrant for sums which it may be permitted or required to pay to its
officers and directors by way of indemnification against such liabilities,
subject in either case to clauses respecting deductibility and
participation.
ITEM 28. Business and Other Connections of Investment Advisor.
Investors Research Corporation, the investment advisor, is engaged in the
business of managing investments for deferred compensation plans and other
institutional investors.
ITEM 29. Principal Underwriters - None.
ITEM 30. Location of Accounts and Records.
All accounts, books and other documents required to be maintained by
Section 31(a) of the 1940 Act, and the rules promulgated thereunder, are in
the possession of Twentieth Century Investors, Inc., Twentieth Century
Services, Inc. and Investors Research Corporation, all located at Twentieth
Century Tower, 4500 Main Street, Kansas City, Missouri 64111.
ITEM 31. Management Services - None.
ITEM 32. Undertakings
a. Not Applicable.
b. Not Applicable.
c. Registrant hereby undertakes to furnish each person to whom a
prospectus is delivered a copy of Registrant's latest annual report to
shareholders, upon request and without charge.
d. The Registrant hereby undertakes that it will, if requested to do so
by the holders of at least 10% of the Registrant's outstanding shares,
call a meeting of shareholders for the purpose of voting upon the
question of the removal of a director and to assist in communication
with other shareholders as required by Section 16(c).
_________________________________________________________________
(1) Filed as an Exhibit to Post-Effective Amendment No. 67 on Form N-1A, File
No. 2-14213.
(2) Filed as an Exhibit to Post-Effective Amendment No. 71 on Form N-1A, File
No. 2-14213.
(3) Filed as an Exhibit to Post-Effective Amendment No. 46 on Form N-1A, File
No. 2-14213.
(4) Filed as an Exhibit to Post-Effective Amendment No. 53 on Form N-1A, File
No. 2-14213.
(5) Filed as an Exhibit to Post-Effective Amendment No. 49 on Form N-1A, File
No. 2-14213.
(6) Filed as an Exhibit to Post-Effective Amendment No. 72 on Form N-1A, File
No. 2-14213.
(7) Filed as Exhibits 8(c) and 8(e) to Pre-Effective Amendment No. 4 to the
Registration Statement on Form N-1A of Twentieth Century Strategic Asset
Allocations, Inc., Commission File No. 33-79482, filed February 5, 1996.
(8) Filed as an Exhibit to Post-Effective Amendment No. 66 on Form N-1A, File
No. 2-14213.
(9) Filed on December 22, 1995.
(10) Filed as Exhibits 14(a), 14(b), 14(c) and 14(d) to Pre-Effective Amendment
No. 2 to the Registration Statement on Form N-1A of Twentieth Century World
Investors, Inc., Commission File No. 33- 39242, filed May 6, 1991.
(11) Filed as an Exhibit to Post-Effective Amendment No. 73 on Form N-1A, File
No. 2-14213
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, Twentieth Century Investors, Inc., the
Registrant, certifies that it meets all the requirements for effectiveness of
this Post-Effective Amendment No. 74 to its Registration Statement pursuant to
Rule 485(b) promulgated under the Securities Act of 1933, as amended, and has
duly caused this Post-Effective Amendment No. 74 to its Registration Statement
to be signed on its behalf by the undersigned, thereunto duly authorized, in the
City of Kansas City, State of Missouri on the 7th day of March, 1996.
Twentieth Century Investors, Inc.
(Registrant)
/s/Patrick A. Looby
Vice President
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 74 has been signed below by the following persons
in the capacities and on the dates indicated.
Signature Title Date
*James E. Stowers, Jr. Chairman, Director and March 7, 1996
James E. Stowers, Jr. Principal Executive Officer
*James E. Stowers III President and Director March 7, 1996
James E. Stowers III
*Robert T. Jackson Executive Vice President March 7, 1996
Robert T. Jackson and Principal Financial Officer
*Maryanne Roepke Vice President, Treasurer and March 7, 1996
Maryanne Roepke Principal Accounting Officer
*Thomas A. Brown Director March 7, 1996
Thomas A. Brown
*Robert W. Doering, M.D. Director March 7, 1996
Robert W. Doering, M.D.
*Linsley L. Lundgaard Director March 7, 1996
Linsley L. Lundgaard
*Donald H. Pratt Director March 7, 1996
Donald H. Pratt
*Lloyd T. Silver, Jr. Director March 7, 1996
Lloyd T. Silver, Jr.
*M. Jeannine Strandjord Director March 7, 1996
M. Jeannine Strandjord
*John M. Urie Director March 7, 1996
John M. Urie
*By /s/ Patrick A. Looby
Patrick A. Looby
Attorney-in-Fact
EXHIBIT INDEX
EXHIBIT DESCRIPTION OF DOCUMENT
NUMBER
EX-99.B1a Articles of Incorporation of Twentieth Century Investors, Inc.,
dated July 2, 1990. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B1b Articles of Amendment of Twentieth Century Investors, Inc., dated
November 20, 1990. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B1c Articles of Merger of Twentieth Century Investors, Inc., a Maryland
corporation and Twentieth Century Investors, Inc., a Delaware
corporation, dated February 22, 1991. (filed as a part of
Post-Effective Amendment #73 to the Registration Statement on Form
N-1A of the Registrant, Commission File No. 2-14213, filed on
February 29, 1996, and incorporated herein by reference.)
EX-99.B1d Articles of Amendment of Twentieth Century Investors, Inc., dated
August 11, 1993. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B1e Articles Supplementary of Twentieth Century Investors, Inc., dated
September 3, 1993. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B1f Articles Supplementary of Twentieth Century Investors, Inc., dated
April 28, 1995. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B1g Articles Supplementary of Twentieth Century Investors, dated
November 17, 1995. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B1h Articles Supplementary of Twentieth Century Investors, Inc., dated
January 30, 1996. (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-99.B2 Bylaws of Twentieth Century Investors, Inc. (filed as a part of
Post-Effective Amendment #73 to the Registration Statement on Form
N-1A of the Registrant, Commission File No. 2-14213, filed on
February 29, 1996, and incorporated herein by reference.)
EX-99.B4 Specimen certificate representing shares of common stock of
Twentieth Century Investors, Inc. (filed as Exhibit 4 to
Post-Effective Amendment No. 67 to the Registration Statement on
Form N-1A of the Registrant, Commission File No. 2-14213, filed on
December 31, 1991, and incorporated herein by reference).
EX-99.B5 Investment Management Agreement, dated as of August 1, 1994,
between Twentieth Century Investors, Inc. and Investors Research
Corporation (filed as Exhibit 5 to Post-Effective Amendment No. 73
to the Registration Statement on Form N-1A f the Registrant,
Commission File No. 2-14213, filed on February 27, 1995, and
incorporated herein by reference).
EX-99.B8a Custodian Agreement, dated as of December 1, 1982, by and between
Twentieth Century Investors, Inc. and United States Trust Company
of New York (filed as Exhibit 8(a) to Post-Effective Amendment No.
46 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on December 31, 1982, and
incorporated herein by reference).
EX-99.B8b Letter Agreement re Remuneration dated May 8, 1985 (filed as
Exhibit 8(b) to Post-Effective Amendment No. 51 to the Registration
Statement on Form N-1A of the Registrant, Commission File No.
2-14213, filed on December 31, 1985, and incorporated herein by
reference).
EX-99.B8c Letter Agreement between Twentieth Century Investors, Inc. and
United States Trust Company of New York, dated February 28, 1991
(filed as Exhibit 8(c) to Post-Effective Amendment No. 67 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on December 31, 1991, and incorporated
herein by reference).
EX-99.B8d Custodian Agreement between Twentieth Century Investors, Inc. and
First National Bank of Kansas City (filed as Exhibit 8(d) to
Post-Effective Amendment No. 49 to the Registration Statement on
Form N-1A of the Registrant, Commission File No. 2-14213, filed on
December 30, 1993, and incorporated herein by reference).
EX-99.B8e Letter Agreement between Twentieth Century Investors, Inc. and
Boatmen's First National Bank of Kansas City (filed as Exhibit 8(e)
to Post-Effective Amendment No. 67 to the Registration Statement on
Form N-1A of the Registrant, Commission File No. 2-14213, filed on
December 31, 1991, and incorporated herein by reference).
EX-99.B8f Custodian Agreement for ACH transactions, dated September 21, 1994
between Twentieth Century Investors, Inc. and United Missouri Bank
of Kansas City, N.A. (filed as Exhibit 8(f) to Post-Effective
Amendment No. 73 to the Registration Statement on Form N-1A of the
Registrant, Commission File No. 2-14213, filed on February 27,
1995, and incorporated herein by reference).
EX-99.B8g Custody Agreement dated September 12, 1995, between United Missouri
Bank of Kansas City, N.A., Investors Research Corporation,
Twentieth Century Investors, Inc., Twentieth Century World
Investors, Inc., Twentieth Century Premium Reserves, Inc. and
Twentieth Century Capital Portfolios, Inc. (filed as Exhibit 8(e)
to Pre-Effective Amendment No. 4 to the Registration Statement on
Form N-1A of Twentieth Century Strategic Asset Allocations, Inc.,
Commission File No. 33-79482, filed February 5, 1996).
EX-99.B8h Amendment No. 1 to Custody Agreement dated January 25, 1996,
between United Missouri Bank of Kansas City, N.A., Investors
Research Corporation, Twentieth Century Investors, Inc., Twentieth
Century World Investors, Inc., Twentieth Century Premium Reserves,
Inc., Twentieth Century Capital Portfolios, Inc. and Twentieth
Century Strategic Asset Allocations, Inc. (filed as Exhibit 8(e) to
Pre-Effective Amendment No. 4 to the Registration Statement on Form
N-1A of Twentieth Century Strategic Asset Allocations, Inc.,
Commission File No. 33-79482, filed February 5, 1996).
EX-99.B9 Transfer Agency Agreement dated as of March 1, 1991, by and between
Twentieth Century Investors, Inc. and Twentieth Century Services,
Inc. (filed as Exhibit 9 to Post-Effective Amendment No. 66 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on December 31, 1990, and incorporated
herein by reference).
EX-99.B10 Opinion and Consent of Patrick A. Looby, Esq.
EX-99.B11 Consent of Baird, Kurtz & Dobson.
EX-99.B12 Equity Funds Annual Report and Fixed Income Funds Annual Reports of
Twentieth Century Investors, Inc. for the year ended October 31,
1995, filed on December 22, 1995, and incorporated herein by
reference.
EX-99.B14 Model Retirement Plans (filed as Exhibits 14(a), 14(b), 14(c) and
14(d) to Pre-Effective Amendment No. 2 to the Registration
Statement on Form N-1A of Twentieth Century World Investors, Inc.,
Commission File No. 33-39242, filed May 6, 1991, and incorporated
herein by reference).
EX-99.B16 Schedules for Computations of Advertising Performance Quotations,
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-99.B17 Power of Attorney (filed as a part of Post-Effective Amendment
#73 to the Registration Statement on Form N-1A of the Registrant,
Commission File No. 2-14213, filed on February 29, 1996, and
incorporated herein by reference.)
EX-27.1.1 Financial Data Schedule for Growth Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.1.2 Financial Data Schedule for Select Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.1.3 Financial Data Schedule for Ultra Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.1.4 Financial Data Schedule for Vista Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.1.5 Financial Data Schedule for Giftrust Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.6 Financial Data Schedule for U.S. Governments Short-Term
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.4.7 Financial Data Schedule for Cash Reserve
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.8 Financial Data Schedule for Long-Term Bond
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.9 Financial Data Schedule for Tax-Exempt Intermediate-Term
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.10 Financial Data Schedule for Tax-Exempt Long-Term
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.1.11 Financial Data Schedule for Heritage Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.7.12 Financial Data Schedule for Balanced Investors
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.13 Financial Data Schedule for Tax-Exempt Short-Term
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.14 Financial Data Schedule for Limited-Term
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.15 Financial Data Schedule for Intermediate-Term
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
EX-27.5.16 Financial Data Schedule for U.S. Governments Intermediate-Term,
(filed as a part of Post-Effective Amendment #73 to the
Registration Statement on Form N-1A of the Registrant, Commission
File No. 2-14213, filed on February 29, 1996, and incorporated
herein by reference.)
Patrick A. Looby
Attorney and Counselor at Law
4500 Main Street P.O. Box 418210
Kansas City, Missouri 64141-9210
Telephone (816) 340-4349
Telecopier (816) 340-4964
--------------------------
March 7, 1996
Twentieth Century Investors, Inc.
Twentieth Century Tower
4500 Main Street
Kansas City, Missouri 64111
Ladies and Gentlemen:
As counsel to Twentieth Century Investors, Inc., I am generally familiar
with its affairs. Based upon this familiarity, and upon the examination of such
documents as I have deemed relevant, it is my opinion that the shares of the
Corporation described in Post-Effective Amendment Nos. 73 and 74 to its
Registration Statement on Form N-1A, to be filed with the Securities and
Exchange Commission on February 29, 1996, and March 7, 1996, respectively, will,
when issued, be validly issued, fully paid and nonassessable.
For the record, it should be noted that I am an officer of Twentieth
Century Investors, Inc. and of Twentieth Century Services, Inc. an affiliated
corporation of Investors Research Corporation, the investment adviser of
Twentieth Century Investors, Inc.
I hereby consent to the use of this opinion as an exhibit to
Post-Effective Amendment Nos. 73 and 74.
Very truly yours,
/s/ Patrick A. Looby
Patrick A. Looby
PL/dnh
CONSENT OF
INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT
Twentieth Century Investors, Inc.
Twentieth Century Tower
4500 Main Street
Kansas City, Missouri 64111
We hereby consent to the use in this Post-Effective Amendment No. 74 to the
Registration Statement under the Securities Act of 1933 and this Amendment No.
74 to the Registration Statement under the Investment Company Act of 1940, both
on form N-1A, of our report dated November 27, 1995, accompanying and pertaining
to the financial statements of Twentieth Century Investors, Inc., as of October
31, 1995, which are included in such Post-Effective Amendments.
/s/ BAIRD, KURTZ & DODSON
BAIRD, KURTZ & DOBSON
Kansas City, Missouri
March 7, 1996
