<PAGE>
As filed electronically with the Securities and
Exchange Commission on May 1, 1997
Securities Act File No. 33-64915
Investment Company Act File No. 811-7447
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Post-Effective Amendment No. 4
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 7
HARRIS INSIGHT FUNDS TRUST
--------------------------
(Exact Name of Registrant as Specified in Charter)
60 State Street, Suite 1300, Boston, MA 02109
---------------------------------------------
(Address of Principal Executive Offices including Zip Code)
----------
Registrant's Telephone Number, including Area Code: (617) 557-0700
Name and Address of Agent for Service: Copies to:
John E. Pelletier, Esq. Cameron S. Avery, Esq.
Harris Insight Funds Trust Bell, Boyd & Lloyd
60 State Street Three First National Plaza
Suite 1300 70 West Madison Street
Boston, MA 02109 Chicago, IL 60602-4207
----------
It is proposed that this filing will become effective:
X immediately upon filing pursuant to paragraph (b)
___ on ____________ pursuant to paragraph (b)
___ 60 days after filing pursuant to paragraph (a)
___ 75 days after filing pursuant to paragraph (a)
___ on __________ pursuant to paragraph (a) of Rule 485
If appropriate, check the following box:
____ this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
The Registrant has filed a declaration registering an indefinite amount of
securities pursuant to Rule 24f-2 under the Investment Company Act of 1940, as
amended. The Registrant filed the notice required by Rule 24f-2 for its most
recent fiscal year on February 25, 1997.
<PAGE>
CROSS REFERENCE SHEET
Pursuant to Rule 495(b)
under the Securities Act of 1933
(Prospectuses offering Class A and Institutional Shares of
Harris Insight Funds Trust)
Part A
------
N-1A Item No. Location
- ------------- --------
Item 1. Cover Page Cover Page
Item 2. Synopsis Expense Summary; Financial
Highlights
Item 3. Condensed Financial Information Financial Highlights; General
Information - How Performance is
Reported
Item 4. General Description of Registrant Cover Page; Fund Summary;
Investment Objectives and Policies;
Additional Investment Information;
General Information - More
Information About the Trust and the
Company
Item 5. Management of the Fund Management
Item 5A. Management: Discussion
of Fund Performance Not Applicable
Item 6. Capital Stock and Other
Securities Cover Page; Shareholder Services
and Policies; How Distributions Are
Made; Tax Information; General
Information - More Information
About the Trust and the Company
Item 7. Purchase of Securities
Being Offered Management; How to Buy Shares; How
to Sell Shares; Shareholder
Services and Policies; General
Information - How Share Value is
Determined
Item 8. Redemption or Repurchase How to Buy Shares; How to Sell
Shares; Shareholder Services and
Policies
Item 9. Pending Legal Proceedings Not Applicable
<PAGE>
(SAI offering Class A and Institutional Shares of Harris Insight Funds Trust)
Part B
------
N-1A Item No. Location
- ------------- --------
Item 10. Cover Page Cover Page
Item 11. Table of Contents Table of Contents
Item 12. General Information and History Not Applicable
Item 13. Investment Objectives
and Policies Investment Strategies; Investment
Restrictions; Portfolio
Transactions
Item 14. Management of the Fund Management
Item 15. Control Persons and Principal
Holders of Securities Management
Item 16. Investment Advisory and
Other Services Management; Service Plans;
Custodian; Independent Accountants
Item 17. Brokerage Allocation and
Other Practices Portfolio Transactions
Item 18. Capital Stock and Other
Securities Capital Stock and Beneficial
Interest
Item 19. Purchase, Redemption and
Pricing of Securities
Being Offered Determination of Net Asset Value;
Financial Statements
Item 20. Tax Status Federal Income Taxes
Item 21. Underwriters Management; Service Plans
Item 22. Calculation of Performance Data Calculation of Yield and Total
Return
Item 23. Financial Statements Financial Statements
<PAGE>
PART A
------
The Prospectuses offering Class A and Institutional Shares of Harris Insight
Equity Income Fund, Growth Fund, Small-Cap Opportunity Fund, Index Fund,
International Fund, Balanced Fund, Convertible Securities Fund, Bond Fund,
Intermediate Government Bond Fund, Intermediate Tax-Exempt Bond Fund, Tax-Exempt
Bond Fund and Small-Cap Value Fund as contained in Part A of the 485(b) filing
of HT Insight Funds, Inc. (File No. 33-17957) filed on May 1, 1997 (accession
number 0000912057-97-014982) are incorporated herein by reference.
<PAGE>
PART B
------
The Statement of Additional Information offering Class A and Institutional
Shares of Harris Insight Equity Income Fund, Growth Fund, Small-Cap Opportunity
Fund, Index Fund, International Fund, Balanced Fund, Convertible Securities
Fund, Bond Fund, Intermediate Government Bond Fund, Intermediate Tax-Exempt Bond
Fund, Tax-Exempt Bond Fund and Small-Cap Value Fund as contained in Part B of
the 485(b) filing of HT Insight Funds, Inc. (File No. 33-17957) filed on May 1,
1997 (accession number 0000912057-97-014982) are incorporated herein by
reference.
<PAGE>
PART C
- ------
OTHER INFORMATION
Item 24. Financial Statements and Exhibits.
(a) Financial Statements
Included in Part A of this Registration Statement:
Financial Highlights for Class A Shares and Institutional
Shares of each Fund from commencement of operations through
December 31, 1996
Included in Part B of this Registration Statement*:
Statements of Net Assets, December 31, 1996
Statements of Operations, for the period ended December 31, 1996
Statements of Changes in Net Assets, for the period ended
December 31, 1996
Statements of Changes - Capital Stock Activity, for the period ended
December 31, 1996
Financial Highlights, for the period ended December 31, 1996
Notes to Financial Statements
Report of Independent Accountants
* Audited Financial Statements for each Fund of the Trust and the
auditors' report thereon for the fiscal period ended December 31, 1996
(with respect to each Fund, part of the Trust's Annual Report filed
with the Securities and Exchange Commission on February 27, 1997
pursuant to Rule 30b2-1 under the Investment Company Act of 1940, as
amended, accession number 0000935069-97-000014) have been incorporated
by reference thereto in the Statement of Additional Information.
(b) Exhibits
Note: As used herein the term "Registration Statement" refers to the
Registration Statement of Registrant under the Securities Act of 1933
on Form N-1A, No. 33-64915. All references to a Post-Effective
Amendment ("PEA") or Pre-Effective Amendment ("PreEA") are to
Post-Effective Amendments and Pre-Effective Amendments to the
Registration Statement.
(1) (a) Declaration of Trust dated December 6, 1995 (incorporated by reference
to Exhibit No. 1 to the Registration Statement filed on December 12,
1995).
(b) Amendment to Declaration of Trust dated November 4, 1996 (incorporated
by reference to Exhibit No. 1(b) to the PEA No. 3 filed on February
28, 1997).
(2) (a) By-Laws (incorporated by reference to Exhibit No. 2 to the
Registration Statement filed on December 12, 1995).
(b) Amendment to By-Laws dated October 31, 1995 (incorporated by reference
to Exhibit No. 2(b) to the PEA No. 3 filed on February 28, 1997).
(c) Amendment to By-Laws dated January 23, 1996 (incorporated by reference
to Exhibit No. 2(c) to the PEA No. 3 filed on February 28, 1997).
(d) Amendment to By-Laws dated November 4, 1996 (incorporated by reference
to Exhibit No. 2(d) to the PEA No. 3 filed on February 28, 1997).
(3) Not applicable.
<PAGE>
(4) Not applicable.
(5)(a)(i) Advisory Contract dated February 23, 1996 between Registrant and
Harris Trust and Savings Bank ("Harris Trust") (incorporated by
reference to Exhibit No. 5(a)(i) to the PEA No. 3 filed on February
28, 1997).
(a)(ii) Form of Notice to the Adviser dated January 21, 1997 on behalf of
Harris Insight Small-Cap Value Fund (incorporated by reference to
Exhibit No. 5(a)(ii) to the PEA No. 3 filed on February 28, 1997).
(b)(i) Portfolio Management Contract dated February 23, 1996 between Harris
Trust and Harris Investment Management, Inc. ("HIM") (incorporated by
reference to Exhibit No. 5(b)(i) to the PEA No. 3 filed on February
28, 1997).
(b)(ii) Form of Notice to the Portfolio Management Agent dated January 21,
1997 on behalf of Harris Insight Small-Cap Value Fund (incorporated by
reference to Exhibit No. 5(b)(ii) to the PEA No. 3 filed on February
28, 1997).
(6) (a) Distribution Agreement dated February 23, 1996 between the Registrant
and Funds Distributor, Inc. ("FDI") (incorporated by reference to
Exhibit No. 6(a) to the PEA No. 3 filed on February 28, 1997).
(b) Notice to the Distributor dated January 21, 1997 on behalf of Harris
Insight Small-Cap Value Fund (incorporated by reference to Exhibit No.
6(b) to the PEA No. 3 filed on February 28, 1997).
(7) Not applicable.
(8) (a) Custodian Agreement dated February 23, 1996 between Registrant and PNC
Bank, N.A. (incorporated by reference to Exhibit No. 8(a) to the PEA
No. 3 filed on February 28, 1997).
(b) Notice to the Custodian dated January 21, 1997 on behalf of Harris
Insight Small-Cap Value Fund (incorporated by reference to Exhibit No.
8(b) to the PEA No. 3 filed on February 28, 1997).
(9)(a)(i) Transfer Agency Services Agreement dated July 1, 1996 between
Registrant and Harris Trust (incorporated by reference to Exhibit No.
9(a)(i) to the PEA No. 3 filed on February 28, 1997).
(a)(ii) Form of Notice to the Transfer Agent dated January 21, 1997 on behalf
of Harris Insight Small-Cap Value Fund (incorporated by reference to
Exhibit No. 9(a)(ii) to the PEA No. 3 filed on February 28, 1997).
(b)(i) Sub-Transfer Agency Services Agreement dated July 1, 1996 between
Harris Trust and PFPC Inc. (incorporated by reference to Exhibit No.
9(b)(i) to the PEA No. 3 filed on February 28, 1997).
(b)(ii) Notice to the Sub-Transfer Agent dated January 21, 1997 on behalf of
Harris Insight Small-Cap Value Fund (incorporated by reference to
Exhibit No. 9(b)(ii) to the PEA No. 3 filed on February 28, 1997).
(c)(i) Administration Agreement dated July 1, 1996 between Registrant and
Harris Trust
<PAGE>
(incorporated by reference to Exhibit No. 9(c)(i) to the PEA No. 3
filed on February 28, 1997).
(c)(ii) Form of Notice to the Administrator dated January 21, 1997 on behalf
of Harris Insight Small-Cap Value Fund (incorporated by reference to
Exhibit No. 9(c)(ii) to the PEA No. 3 filed on February 28, 1997).
(d)(i) Sub-Administration and Accounting Services Agreement dated July 1,
1996 between Harris Trust and PFPC Inc. (incorporated by reference to
Exhibit No. 9(d)(i) to the PEA No. 3 filed on February 28, 1997).
(d)(ii) Notice to the Sub-Administrator and Accounting Services Agent dated
January 21, 1997 on behalf of Harris Insight Small-Cap Value Fund
(incorporated by reference to Exhibit No. 9(d)(ii) to the PEA No. 3
filed on February 28, 1997).
(e)(i) Sub-Administration Agreement dated July 1, 1996 between Harris Trust
and FDI (incorporated by reference to Exhibit No. 9(e)(i) to the PEA
No. 3 filed on February 28, 1997).
(e)(ii) Notice to the Sub-Administrator dated January 21, 1997 on behalf of
Harris Insight Small-Cap Value Fund (incorporated by reference to
Exhibit No. 9(e)(ii) to the PEA No. 3 filed on February 28, 1997).
(10) Not applicable.
(11) Consent of Independent Accountants (filed herewith).
(12) Not applicable.
(13) Form of Purchase Agreement relating to Initial Capital (incorporated
by reference to Exhibit No. 13 to the PEA No. 3 filed on February 28,
1997).
(14) Not applicable.
(15) (a) Service Plan relating to Class A Shares (incorporated by reference to
Exhibit No. 15(a) to the PEA No. 3 filed on February 28, 1997).
(b) Form of Selling Agreement relating to Class A Shares (incorporated by
reference to Exhibit No. 15(b) to the PEA No. 3 filed on February 28,
1997).
(16) Certain schedules for computation of performance quotations with
respect to Class A Shares and Institutional Shares (filed herewith).
(17) Financial Data Schedules (filed herewith).
(18) Multi-Class Plan (incorporated by reference to Exhibit No. 18 to the
PEA No. 3 filed on February 28, 1997).
Other Powers of Attorney for C. Gary Gerst, Edgar R. Fielder, John W.
Exhibits: McCarter, Jr. and Ernest M. Roth dated November 4, 1996 (incorporated
by reference to the PEA No. 3 filed on February 28, 1997).
Item 25. Persons Controlled by or under Common Control with Registrant.
<PAGE>
Not applicable.
Item 26. Number of Holders of Securities.
As of April 1, 1997, the number of record holders of each class of securities of
the Registrant was as follows:
Title of Series Number of Record Holders
- --------------- ------------------------
Class A Shares Institutional Shares
-------------- --------------------
Bond Fund 14 8
Intermediate Tax-Exempt Bond Fund 4 5
Tax-Exempt Bond Fund 5 5
Equity Income Fund 23 5
Growth Fund 69 6
Small-Cap Opportunity Fund 76 10
Index Fund 56 5
International Fund 57 5
Convertible Securities Fund 5 6
Balanced Fund 5 6
Intermediate Government Bond Fund 5 7
Small-Cap Value Fund 3 4
Item 27. Indemnification.
Under Section 4.3 of the Registrant's Declaration of Trust, any past or
present Trustee or officer of the Registrant (including persons who serve at the
Registrant's request as directors, officers or trustees of another organization
in which the Registrant has any interest as a shareholder, creditor or
otherwise) (hereinafter referred to as a "Covered Person") shall be indemnified
to the fullest extent permitted by law against all liability and all expenses
reasonably incurred by him or her in connection with any claim, action, suit or
proceeding to which he or she may be a party or otherwise involved by reason of
his or her being or having been a Covered Person. That provision does not
authorize indemnification when it is determined, in the manner specified in the
Declaration of Trust, that such Covered Person has not acted in good faith in
the reasonable belief that his or her actions were in or not opposed to the best
interests of the Registrant. Moreover, that provision does not authorize
indemnification when it is determined, in the manner specified in the
Declaration of Trust, that such covered person would otherwise be liable to the
Registrant or its shareholders by reason of willful misfeasance, bad faith,
gross negligence or reckless disregard of his or her duties. Expenses may be
paid by the Registrant in advance of the final disposition of any claim, action,
suit or proceeding upon receipt of an undertaking by such Covered Person to
repay such expenses to the Registrant in the event that it is ultimately
determined that indemnification of such expenses is not authorized under the
Declaration of Trust and the Covered Person either provides security for such
undertaking or insures the Registrant against losses from such advances or the
disinterested Trustees or independent legal counsel determines, in the manner
specified in the Declaration of Trust, that there is reason to believe the
Covered Person will be found to be entitled to indemnification. This description
is modified in its entirety by the provision of Section 4.3 of the Registrant's
Declaration of Trust contained in the Registration Statement filed on December
12, 1995 as Exhibit No. 1 and incorporated herein by reference.
The Distribution Agreement, the Custodian Agreement, the Transfer Agency
Services Agreement and the Administration Agreement (the "Agreements") (Exhibit
6(a), Exhibit 8(a), Exhibit 9(a)(i) and Exhibit 9(c)(i), respectively, to
Post-Effective Amendment No. 3 to the Registration Statement and incorporated
herein by reference) provide for indemnification. The general effect of these
provisions is to indemnify entities contracting with the Trust against liability
and expenses in certain circumstances. This description is modified in its
entirety by the provisions of the Agreements as contained in this Registration
Statement and incorporated herein by reference.
<PAGE>
Insofar as indemnification for liabilities arising under the Securities Act
of 1933, as amended (the "Securities Act"), may be permitted to Trustees,
officers and controlling persons of the Registrant pursuant to the foregoing
provisions or otherwise, the Registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a Trustee, officer
or controlling person of the Registrant in connection with the successful
defense of any claim, action, suit or proceeding) is asserted against the
Registrant by such Trustee, officer or controlling person in connection with the
shares being registered, the Registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.
Registrant and its Trustees, officers and employees are insured, under a
policy of insurance maintained by the Registrant, within the limits and subject
to the limitations of the policy, against certain expenses in connection with
the defense of actions, suits or proceedings, and certain liabilities that might
be imposed as a result of such actions, suits or proceedings, to which they are
parties by reason of being or having been such Trustees or officers. The policy
expressly excludes coverage for any Trustee or officer for any claim arising out
of any fraudulent act or omission, any dishonest act or omission or any criminal
act or omission of the Trustee or officer.
Item 28. Business and Other Connections of Investment Adviser.
(a) Harris Trust and Savings Bank ("Harris Bank"), an indirect,
wholly-owned subsidiary of the Bank of Montreal, serves as investment adviser to
the Harris Insight Equity Income Fund, Growth Fund, Small-Cap Opportunity Fund,
Index Fund, International Fund, Balanced Fund, Convertible Securities Fund, Bond
Fund, Intermediate Government Bond Fund, Intermediate Tax-Exempt Bond Fund,
Tax-Exempt Bond Fund and Small-Cap Value Fund. Harris Bank's business is that of
an Illinois state-chartered bank with respect to which it conducts a variety of
commercial banking and trust activities.
To the knowledge of the Registrant, none of the directors or executive
officers of Harris Bank except those set forth below, is or has been at any time
during the past two fiscal years engaged in any other business, profession,
vocation or employment of a substantial nature. Set forth below are the names
and principal businesses of the directors and executive officers of Harris Bank
who are or during the past two fiscal years have been engaged in any other
business, profession, vocation or employment of a substantial nature for their
own account or in the capacity of director, officer, employee, partner or
trustee. All directors of Harris Bank also serve as directors of Harris
Bankcorp, Inc., the immediate parent of Harris Bank.
Position(s) Principal
with Harris Business(es)
Trust and During the Last
Name Savings Bank Two Fiscal Years
- --------------------------------------------------------------------------------
Alan G. McNally Chairman and Chairman of the Board and Chief
Chief Executive Officer of Harris Trust
Executive and Savings Bank and Harris
Officer Bankcorp, Inc.; formerly, Vice
Chairman of Personal and Commercial
Financial Services of Bank of
Montreal.
F. Anthony Comper Director President and Chief Operating
Officer of the Bank of Montreal.
<PAGE>
Susan T. Congalton Director Managing Director of Lupine
Partners; formerly General Counsel
and Chief Financial Officer,
Finance and Law of Carson Pierre
Scott Company.
Roxanne J. Decyk Director Vice President - Corporate
Planning, Amoco Chemical Company;
formerly, Senior Vice President of
Commercial and Industrial Sales,
Amoco Chemical Corporation.
Wilbur H. Gantz Director President and Chief Executive
Officer, PathoGenesis Corporation.
James J. Glasser Director Retired Chairman, President and
Chief Executive Officer of GATX
Corporation.
Dr. Leo M. Henikoff Director President and Chief Executive
Officer of Rush-Presbyterian - St.
Luke's Medical Center.
Dr. Stanley O. Ikenberry Director President of the University of
Illinois.
Edward W. Lyman, Jr. Director Vice Chairman and Senior Executive
Vice President - Corporate and
Institutional Financial Services,
Harris Trust and Savings Bank;
formerly, Department Executive,
Corporate Banking, Harris Trust and
Savings Bank.
Charles H. Shaw Director Chairman of the Shaw Company.
Richard E. Terry Director Chairman and Chief Executive
Officer of Peoples Energy
Corporation.
James O. Webb Director President, James O. Webb and
Associates Inc.
William J. Weisz Director Chairman of the Board of Motorola,
Inc.
Maribeth S. Rahe Director Vice Chairman and Senior Executive
Vice President - Personal and
Commercial Services, Harris Trust
and Savings Bank; formerly,
Department Executive, Personal
Financial Services, Harris Trust
and
<PAGE>
Savings Bank.
(b) Harris Investment Management, Inc. ("HIM"), an indirect subsidiary of
the Bank of Montreal, serves as the Portfolio Management Agent of the Harris
Insight Equity Income Fund, Growth Fund, Small-Cap Opportunity Fund, Index Fund,
International Fund, Balanced Fund, Convertible Securities Fund, Bond Fund,
Intermediate Government Bond Fund, Intermediate Tax-Exempt Bond Fund, Tax-Exempt
Bond Fund and Small-Cap Value Fund pursuant to a Portfolio Management Agreement
with Harris Bank. HIM's business is that of a Delaware corporation registered as
an investment adviser under the Investment Advisers Act of 1940.
To the knowledge of the Registrant, none of the directors or executive
officers of HIM, except those set forth below, is or has been at anytime during
the past two fiscal years engaged in any other business, profession, vocation or
employment of a substantial nature with respect to publicly traded companies for
their own account or in the capacity of director, officer, employees, partner or
trustee.
Principal
Business(es)
Position(s) During the Last
Name with HIM Two Fiscal Years
- --------------------------------------------------------------------------------
Donald G.M. Coxe Director, Chairman of the Board and Chief
Chairman of Strategist; Formerly, President and
the Board Chief Investment Officer of Harris
and Chief Investment Management, Inc.;
Strategist formerly, Chief Strategist of
Nesbitt Thomson, Inc.
Peter P. Capaccio Director Senior Vice President/Director,
Mutual Funds and the Investment
Product Group; formerly, Vice
President/Director of Mutual Funds,
U.S. Trust
Terry A. Jackson Director Executive Vice President, Bank of
Montreal Asset Management Services,
President of the Trust Company of
the Bank of Montreal and President
of the Bank of Montreal Investment
Management. Vice President of
Nesbitt Thompson, Inc.; formerly,
Executive Vice President, Retail
and Institutional Sales, Bank of
Montreal.
William O. Leszinske Director, Manager of Equities, Harris
President, Investment Management, Inc.
Chief
Investment
Officer
Edward W. Lyman, Jr. Director Senior Executive Vice President,
Corporate and Institutional
Financial Services, Harris Trust
and Savings Bank. Formerly,
Department Executive of Corporate
Banking, Harris Trust and Savings
Bank.
Maribeth S. Rahe Director Senior Executive Vice President,
Personal and Commercial Services,
Harris Trust and Savings Bank.
Prior to January, 1994 Personal
Financial Services Department
Executive of Harris Trust and
Savings Bank.
<PAGE>
Brian J. Steck Director Director and formerly Chairman of
the Board of Harris Investment
Management, Inc.; Vice- Chairman of
Investment Banking of Bank of
Montreal, President of the Bank of
Montreal Investment Management
Limited.
Wayne Thomas Director Senior Vice President - Personal
Investment Management, Harris Trust
and Savings Bank.
Randall J. Johnson Chief Senior Partner, Harris Investment
Financial Management, Inc.; formerly,
Officer and Consultant and Director of
Treasurer Operations, Chicago Partnership
Board, Inc.
Blanche Hurt Secretary Director of Harris Trust and
Savings Bank Trust and Investment
Compliance Office; and formerly,
Corporate Fiduciary Officer of
Harris Trust and Savings Bank.
Item 29. Principal Underwriter.
(a) In addition to the Harris Insight Funds Trust, Funds Distributor, Inc.
currently acts as distributor for BJB Investment Funds, Burridge Funds, The
Brinson Funds, Fremont Mutual Funds, Inc., HT Insight Funds, Inc. d/b/a Harris
Insight Funds, The JPM Advisor Funds, The JPM Institutional Funds, The JPM
Pierpont Funds, The JPM Series Trust, LKCM Fund, Monetta Fund, Inc., Monetta
Trust, The Munder Framlington Funds Trust, The Munder Funds Trust, The Munder
Funds, Inc., The PanAgora Institutional Funds, RCM Capital Funds, Inc., RCM
Equity Funds, Inc., St. Clair Money Market Fund, Inc., The Skyline Funds,
Waterhouse Investors Cash Management Fund, Inc. and WEBS Index Fund, Inc. Funds
Distributor, Inc. is registered with the Securities and Exchange Commission as a
broker-dealer and is a member of the National Association of Securities Dealers.
Funds Distributor, Inc. is an indirect wholly-owned subsidiary of Boston
Institutional Group, Inc., a holding company all of whose outstanding shares are
owned by key employees.
(b) The following is a list of the executive officers, directors and
partners of Funds Distributor, Inc.
Director, President and Chief Executive Officer - Marie E. Connolly
Executive Vice President - Richard W. Ingram
Executive Vice President - Donald R. Roberson
Senior Vice President, General
Counsel, Secretary and Clerk - John E. Pelletier
Senior Vice President - Michael S. Petrucelli
Director, Senior Vice President, Treasurer
and Chief Financial Officer - Joseph F. Tower, III
Senior Vice President - Paula R. David
Senior Vice President - Bernard A. Whalen
Senior Vice President - David A. Wrubel
Director - William J. Nutt
(c) Not applicable.
Item 30. Location of Accounts and Records.
<PAGE>
All accounts, books and other documents required to be maintained by
Section 31(a) of the 1940 Act and the Rules promulgated thereunder are
maintained at one or more of the following offices: Harris Insight Funds Trust,
60 State Street, Suite 1300, Boston, Massachusetts 02109; PNC Bank, N.A., Broad
and Chestnut Streets, Philadelphia, Pennsylvania 19107; PFPC Inc., 103 Bellevue
Parkway, Wilmington, Delaware 19809; or Harris Trust and Savings Bank, 111 West
Monroe Street, Chicago, Illinois 60603.
Item 31. Management Services.
Other than as set forth under the captions "Management" in the Prospectuses
constituting Part A of this Registration Statement and "Management" in the
Statement of Additional Information constituting Part B of this Registration
Statement, the Registrant is not a party to any management-related service
contracts.
Item 32. Undertakings.
(a) Not applicable.
(b) Registrant undertakes to file a Post-Effective Amendment relating to
each of the Harris Insight Balanced Fund, the Harris Insight Convertible
Securities Fund, the Harris Insight Intermediate Government Bond Fund and the
Harris Insight Small-Cap Value Fund, using reasonably current financial
statements which need not be certified, within four to six months from the date
each Fund commences investment operations.
(c) Registrant will furnish each person to whom a Prospectus is delivered
with a copy of the Registrant's latest annual report to shareholders, upon
request and without charge.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and
the Investment Company Act of 1940, as amended, the Registrant certifies that it
meets all of the requirements for effectiveness of this Post-Effective Amendment
No. 4 to the Registration Statement pursuant to Rule 485(b) under the Securities
Act of 1933 and has duly caused this Post-Effective Amendment No. 4 to the
Registration Statement to be signed on its behalf by the undersigned, thereto
duly authorized, in the City of Boston and Commonwealth of Massachusetts on the
30th day of April, 1997.
Harris Insight Funds Trust
By: /s/ Richard W. Ingram
----------------------------
Richard W. Ingram, President
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Post-Effective Amendment No. 4 to the Registration Statement has been
signed below by the following persons in the capacities and on the date
indicated:
Signature Title Date
- --------- ----- ----
/s/ Richard W. Ingram President, Treasurer and April 30, 1997
- ----------------------------
Richard W. Ingram Chief Financial Officer
C. Gary Gerst* Chairman of the April 30, 1997
Board of Trustees;
Trustee
Edgar R. Fiedler* Trustee April 30, 1997
John W. McCarter, Jr.* Trustee April 30, 1997
Ernest M. Roth* Trustee April 30, 1997
* By: /s/ Christopher J. Kelley
----------------------------
Christopher J. Kelley
Attorney-in-Fact pursuant to powers of attorney dated November 4, 1996.
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
- ------ -----------
11 Consent of Independent Accountants
16 Schedules for Computation of Performance
17 Financial Data Schedules
<PAGE>
EXHIBIT 11
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Prospectuses and
Statements of Additional Information constituting parts of this
Post-Effective Amendment No. 4 to the registration statement on Form N-1A
(the "Registration Statement") of our report dated February 18, 1997,
relating to the financial statements and financial highlights appearing in
the December 31, 1996 Annual Report to Shareholders of Harris Insight Funds
Trust, which is also incorporated by reference in such Statements of
Additional Information. We also consent to the references to us under the
headings "Independent Accountants," "Experts" and "Financial Statements" in
such Statements of Additional Information and to the references to us under
the heading "Financial Highlights" in such Prospectuses.
/s/Price Waterhouse LLP
PRICE WATERHOUSE LLP
Thirty South Seventeenth Street
Philadelphia, PA 19103
April 28, 1997
<PAGE>
EXHIBIT 16
SCHEDULES FOR COMPUTATION OF PERFORMANCE
30-Day Yield
The 30-day yield is computed by dividing a Fund's net investment income per
share earned during the period by the net asset value on the last day of the
period. The average daily number of shares outstanding during the period that
are eligible to receive dividends is used in determining the net investment
income per share. Income is computed by totaling the interest earned on all debt
obligations during the period and subtracting from that amount the total of all
recurring expenses incurred during the period. The 30-day yield is then
annualized assuming semi-annual reinvestment and compounding of net investment
income.
The following table shows 30-day yields for the period ended December 31, 1996,
for Class A Shares and Institutional Shares of the following Funds:
30-day Yield
------------
Institutional Class A
------------- -------
Short/Intermediate Bond Fund 6.11% 5.59%
Bond Fund 6.13% 5.61%
Intermediate Tax-Exempt Bond Fund 4.18% --
Tax-Exempt Bond Fund 4.49% 4.04%
Equity Fund 1.53% 1.21%
Equity Income Fund 2.05% 1.70%
Growth Fund 0.41% 0.14%
Small-Cap Opportunity Fund 0.08% -0.16%
Index Fund 1.69% 1.36
Total Return
Total Return is computed by assuming a hypothetical initial investment of
$10,000 and reflects the imposition of the maximum sales charge. It is assumed
that all of the dividends and distributions by each Fund over the specified
period of time were reinvested. It was then assumed that at the end of the
specified period, the entire amount was redeemed. The average annual total
return was then calculated by calculating the annual rate required for the
initial investment to grow to the amount that would have been received upon
redemption. The average annual return is calculated according to the following
formula:
P(1+T)^n = ERV
P = A hypothetical initial payment of $10,000
T = Average annual total return
n = Number of years
<PAGE>
ERV = Ending redeemable value of a hypothetical $10,000 payment made at the
beginning of the one-, five-, or 10-year period (or fractional portion
thereof)
The following table shows average annual total return for the one year, five
year, ten year and since inception periods (or shorter period if the Fund has
been in operation for a shorter period) ended December 31, 1996 for Class A
Shares and Institutional Shares of the following Funds. The actual date of the
commencement of each Fund's operations, or the commencement of the offering of
each Class' Shares, is listed in the Funds' financial statements.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
1 Year 5 Year 10 Year Inception to 12/31/96
----------------------- ----------------------- ----------------------- -----------------------
Institutional Class A Institutional Class A Institutional Class A Institutional Class A
------------- ------- ------------- ------- ------------- ------- ------------- -------
(%) (%) (%) (%) (%) (%) (%) (%)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Short/Intermediate Bond Fund -- -1.16 -- 5.15 -- -- 3.61 6.38
Bond Fund -- -- -- -- -- -- 5.40 0.54
Intermediate Tax-Exempt
Bond Fund 3.11 -2.06 5.28 3.99 5.60 4.82 5.93 5.20
Tax-Exempt Bond Fund 3.76 -1.22 6.14 4.90 6.44 5.68 8.26 7.57
Equity Fund -- 18.56 -- 15.14 -- -- 13.66 14.39
Equity Income Fund 17.95 12.33 -- -- -- -- 17.12 15.04
Growth Fund 28.92 22.81 -- -- -- -- 16.28 14.88
Small-Cap Opportunity Fund 18.80 13.20 14.64 13.31 14.59 13.77 15.03 14.30
Index Fund 22.71 16.96 -- -- -- -- 15.71 14.31
International Fund 5.11 0.17 6.35 5.14 -- -- 5.33 4.59
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Aggregate total return reflects the cumulative percentage change in value over
the measuring period. The aggregate total return can be calculated by dividing
the amount received upon redemption by the initial investment and subtracting
one from the result.
The following table shows aggregate total return for the one year, five year,
ten year and since inception (if less than ten years) periods ended December 31,
1996 for Class A Shares and Institutional Shares of the following Funds:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
1 Year 5 Year 10 Year Inception to 12/31/96
----------------------- ----------------------- ----------------------- -----------------------
Institutional Class A Institutional Class A Institutional Class A Institutional Class A
------------- ------- ------------- ------- ------------- ------- ------------- -------
(%) (%) (%) (%) (%) (%) (%) (%)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Short/Intermediate Bond Fund -- (1.16) -- 28.55 -- -- -- 42.78
Bond Fund -- -- -- -- -- -- -- 0.54
Intermediate Tax-Exempt
Bond Fund -- (2.06) -- 21.62 -- 60.10 -- 74.66
Tax-Exempt Bond Fund -- (1.22) -- 26.99 -- 73.82 -- 140.21
Equity Fund -- 18.56 -- 102.40 -- -- -- 228.92
Equity Income Fund -- 12.33 -- -- -- -- -- 52.32
Growth Fund -- 22.81 -- -- -- -- -- 92.43
Small-Cap Opportunity Fund -- 13.20 -- 86.75 -- 263.42 -- 395.17
Index Fund -- 16.96 -- -- -- -- -- 87.93
International Fund -- 0.17 -- 28.51 -- -- -- 56.19
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
<NUMBER> 011
<NAME> HARRIS INSIGHT BOND FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 45335822
<INVESTMENTS-AT-VALUE> 45531993
<RECEIVABLES> 538775
<ASSETS-OTHER> 21886
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46092654
<PAYABLE-FOR-SECURITIES> 2576702
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 243430
<TOTAL-LIABILITIES> 2820132
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 42965688
<SHARES-COMMON-STOCK> 4296314
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1022
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 109641
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 196171
<NET-ASSETS> 43272522
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1513358
<OTHER-INCOME> 0
<EXPENSES-NET> 135721
<NET-INVESTMENT-INCOME> 1377637
<REALIZED-GAINS-CURRENT> 250406
<APPREC-INCREASE-CURRENT> 196171
<NET-CHANGE-FROM-OPS> 1824214
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1377993
<DISTRIBUTIONS-OF-GAINS> 139387
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4341782
<NUMBER-OF-SHARES-REDEEMED> 55806
<SHARES-REINVESTED> 10334
<NET-CHANGE-IN-ASSETS> 43272482
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 148028
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 226091
<AVERAGE-NET-ASSETS> 31327
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> .402
<PER-SHARE-GAIN-APPREC> .113
<PER-SHARE-DIVIDEND> .402
<PER-SHARE-DISTRIBUTIONS> .033
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.07
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
<NUMBER> 012
<NAME> HARRIS INSIGHT BOND FUND - INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
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<PERIOD-END> DEC-31-1996
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<INVESTMENTS-AT-VALUE> 45531993
<RECEIVABLES> 538775
<ASSETS-OTHER> 21886
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46092654
<PAYABLE-FOR-SECURITIES> 2576702
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<TOTAL-LIABILITIES> 2820132
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<EXPENSES-NET> 135721
<NET-INVESTMENT-INCOME> 1377637
<REALIZED-GAINS-CURRENT> 250406
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<NET-CHANGE-FROM-OPS> 1824214
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1377993
<DISTRIBUTIONS-OF-GAINS> 139387
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4341782
<NUMBER-OF-SHARES-REDEEMED> 55806
<SHARES-REINVESTED> 10334
<NET-CHANGE-IN-ASSETS> 43272482
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 148028
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 226091
<AVERAGE-NET-ASSETS> 31327
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .425
<PER-SHARE-GAIN-APPREC> .103
<PER-SHARE-DIVIDEND> .425
<PER-SHARE-DISTRIBUTIONS> .033
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.07
<EXPENSE-RATIO> .60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
<NUMBER> 021
<NAME> HARRIS INSIGHT INTERMEDIATE TAX-EXEMPT BOND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
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<INVESTMENTS-AT-VALUE> 211489818
<RECEIVABLES> 3604657
<ASSETS-OTHER> 31647
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 215126122
<PAYABLE-FOR-SECURITIES> 4223080
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2212580
<TOTAL-LIABILITIES> 6435660
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<ACCUMULATED-NET-GAINS> 846716
<OVERDISTRIBUTION-GAINS> 126318
<ACCUM-APPREC-OR-DEPREC> 3448248
<NET-ASSETS> 208690462
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9408108
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<NET-INVESTMENT-INCOME> 7934409
<REALIZED-GAINS-CURRENT> 846717
<APPREC-INCREASE-CURRENT> (3615528)
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 720399
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<NUMBER-OF-SHARES-REDEEMED> 43600050
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<NET-CHANGE-IN-ASSETS> 208690362
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1120322
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1518698
<AVERAGE-NET-ASSETS> 219244154
<PER-SHARE-NAV-BEGIN> 10.55
<PER-SHARE-NII> .514
<PER-SHARE-GAIN-APPREC> (.36)
<PER-SHARE-DIVIDEND> .084
<PER-SHARE-DISTRIBUTIONS> .04
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.58
<EXPENSE-RATIO> 1.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
<NUMBER> 022
<NAME> HARRIS INSIGHT INTERMED. TAX-EXEMPT BOND-INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
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<INVESTMENTS-AT-VALUE> 211489818
<RECEIVABLES> 3604657
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<PAYABLE-FOR-SECURITIES> 4223080
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 6435660
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 205115896
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<SHARES-COMMON-PRIOR> 9
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 846716
<OVERDISTRIBUTION-GAINS> 126318
<ACCUM-APPREC-OR-DEPREC> 3448248
<NET-ASSETS> 208690462
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<INTEREST-INCOME> 9408108
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<EXPENSES-NET> 1473699
<NET-INVESTMENT-INCOME> 7934409
<REALIZED-GAINS-CURRENT> 846717
<APPREC-INCREASE-CURRENT> (3615528)
<NET-CHANGE-FROM-OPS> 5165598
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7934409
<DISTRIBUTIONS-OF-GAINS> 720399
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<NUMBER-OF-SHARES-SOLD> 255830844
<NUMBER-OF-SHARES-REDEEMED> 43600050
<SHARES-REINVESTED> 8778
<NET-CHANGE-IN-ASSETS> 208690362
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 1518698
<AVERAGE-NET-ASSETS> 219244154
<PER-SHARE-NAV-BEGIN> 10.74
<PER-SHARE-NII> .381
<PER-SHARE-GAIN-APPREC> (.12)
<PER-SHARE-DIVIDEND> .381
<PER-SHARE-DISTRIBUTIONS> .04
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.58
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
<NUMBER> 031
<NAME> HARRIS INSIGHT TAX-EXEMPT BOND FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 158001559
<INVESTMENTS-AT-VALUE> 163484804
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<NET-INVESTMENT-INCOME> 6345622
<REALIZED-GAINS-CURRENT> 3668482
<APPREC-INCREASE-CURRENT> (5155162)
<NET-CHANGE-FROM-OPS> 4858942
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6345622
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<NUMBER-OF-SHARES-SOLD> 18121853
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<NET-CHANGE-IN-ASSETS> 165425953
<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 10.33
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.25
<EXPENSE-RATIO> 1.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
<NUMBER> 032
<NAME> HARRIS INSIGHT TAX-EXEMPT BOND FUND-INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
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<PERIOD-END> DEC-31-1996
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<PER-SHARE-NAV-BEGIN> 10.56
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<PER-SHARE-NAV-END> 10.25
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
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<NAME> HARRIS INSIGHT EQUITY INCOME FUND - CLASS A
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1996
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0001003859
<NAME> HARRIS INSIGHT FUNDS TRUST
<SERIES>
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<NAME> HARRIS INSIGHT EQUITY INCOME FUND - INSTITUTIONAL CLASS
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