<PAGE> 1
As filed with the Securities and Exchange Commission on December 22, 1997
Registration Nos. 333-447
811-7505
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]
Pre-Effective Amendment No. [ ]
Post-Effective Amendment No. 2 [X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]
Amendment No. 5 [X]
(Check appropriate box or boxes)
INTRUST FUNDS TRUST
(Exact name of Registrant as specified in charter)
3435 Stelzer Road
Columbus, Ohio 43219
(Address of Principal Executive Offices Zip Code)
Registrant's Telephone Number, including Area Code: (888) 266-8787
George O. Martinez, Esq.
BISYS Fund Services
3435 Stelzer Road
Columbus, Ohio 43219
(Name and Address of Agent for Service)
Copy to:
Steven R. Howard, Esq.
Baker & McKenzie
805 Third Avenue
New York, New York 10022
It is proposed that this filing will become effective:
X immediately upon filing pursuant to Rule 485(b)
------
on , 1997 pursuant to Rule 485(b)
------
60 days after filing pursuant to Rule 485(a)
------
on , 1997 pursuant to Rule 485(a)
------
Title of Securities being registered ............ Shares of Beneficial Interest.
Registrant has adopted a master-feeder operating structure for the International
Multi-Manager Stock Fund. In that regard, this Post-Effective Amendment includes
the signature pages for the AMR Investment Services Trust with respect to the
International Equity Portfolio only.
<PAGE> 2
INTRUST FUNDS TRUST
Registration Statement on Form N-1A
CROSS REFERENCE SHEET
Pursuant to Rule 495(a)
Under the Securities Act of 1933
MONEY MARKET FUND
SHORT-TERM BOND FUND
STOCK FUND
INTERMEDIATE BOND FUND
INTERNATIONAL MULTI-MANAGER STOCK FUND
KANSAS TAX-FREE BOND FUND
The information required by items 1 through 9 for the above-referenced
investment portfolios of INTRUST Funds Trust (the "Registrant") is hereby
incorporated by reference to Part A to the Registrant's Registration Statement
on Form N-1A, filed with the Securities and Exchange Commission on January 8,
1997 and subsequently amended by Post-Effective Amendment No. 1 filed on
June 27, 1997.
i
<PAGE> 3
MONEY MARKET FUND
SHORT-TERM BOND FUND
STOCK FUND
INTERMEDIATE BOND FUND
INTERNATIONAL MULTI-MANAGER STOCK FUND
KANSAS TAX-EXEMPT BOND FUND
The information required by items 10 through 23 for the above-referenced
investment portfolios of the Registrant are hereby incorporated by reference to
Part B to the Registrant's Registration Statement on Form N-1A, filed with the
Securities and Exchange Commission on January 8, 1997 and subsequently amended
by Post-Effective Amendment No. 1 filed on June 27, 1997.
ii
<PAGE> 4
Part C
Information required to be included in Part C is set forth under the
appropriate Item, so numbered, in Part C to this Registration Statement.
iii
<PAGE> 5
PART A
<PAGE> 6
PRELIMINARY NOTE
The Registrant's Prospectus dated January 8, 1997, to which the financial
statements of the Kansas Tax-Exempt Bond Fund for fiscal year ended August 31,
1997 contained herein are added by Post-Effective Amendment No. 2, is
incorporated by reference to the Registrant's filing of definitive copies under
Rule 497(c).
<PAGE> 7
KANSAS TAX-EXEMPT BOND FUND
PORTFOLIO OF INTRUST FUNDS TRUST
SUPPLEMENT DATED DECEMBER 22, 1997
TO PROSPECTUS DATED JANUARY 8, 1997
The following FUND EXPENSE table lists the costs and expenses that an
investor in the Kansas Tax-Exempt Bond Fund (the "Fund") will incur either
directly or indirectly as a shareholder of the Fund. The information is based
upon expenses for the Fund for the fiscal year ended August 31, 1997, as
adjusted for expense waivers and reimbursements(1).
FEE TABLE
<TABLE>
<CAPTION>
INSTITUTIONAL INSTITUTIONAL
SERVICE CLASS PREMIUM CLASS
------------- -------------
<S> <C> <C>
Maximum Sales Load Imposed on Purchases (as
a percentage of offering price)................. None None
Maximum Sales load Imposed on Reinvested
Dividends (as a percentage of offering price)... None None
Deferred Sales Load (as a percentage of redemption
proceeds)....................................... None None
Redemption Fees(2)................................... None None
Exchange Fees........................................ None None
ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Management Fees (after waivers and reimbursements)(3) 0.00% 0.00%
12b-1 Fees (after waiver)(4)......................... 0.00% 0.00%
Other Expenses (after waivers and reimbursements)(3)(5) 0.21% 0.71%(6)
----- -----
Total Portfolio Operating Expenses (after waivers and
reimbursements)(3).............................. 0.21% 0.71%
===== =====
</TABLE>
(1) Shares are offered only to certain institutional investors or other
investors who at the time of purchase have a balance of $1,000 or more
invested in any of the INTRUST Funds, are purchasers through a trust,
investment manager, or account managed or administered by the Adviser, are
employees or ex-employees of INTRUST Financial Corporation or any of its
affiliates, employees of BISYS Fund Services, or any other service
provider.
(2) Shareholders may be charged a wire redemption fee by their bank for
receiving a wire payment on their behalf.
(3) Absent fee waivers and/or expense reimbursements, management fees for each
of the Fund would be 0.30% of the average net assets (annualized) and Other
Expenses would be 0.32% (annualized) for each class. Total Portfolio
Operating Expenses for the Fund's Institutional Service and Institutional
Premium Class Shares would be 0.62% and 1.12% respectively.
(4) The fee under the Fund's Distribution Plan and Agreement is calculated on
the basis of average net assets of the Fund at an annual rate not to exceed
0.25%. The Fund will not incur any distribution expenses during its first
year of operation.
(5) Other Expenses includes a fee of 0.08% for Shareholder Servicing.
(6) Other Expenses of the Institutional Premium Class are higher than Other
Expenses for the Institutional Service Class because of an additional
shareholder servicing charge of up to 0.50% of average daily net assets.
The shareholder servicing charge is imposed for recordkeeping communication
with and education of shareholders, fiduciary services (excluding
investment management) and asset allocation services. Compensation to
salespersons may vary depending upon whether Institutional Service Class or
Institutional Premium Class shares are sold.
This example should not be considered a representation of future expenses
which may be more or less than those shown. The expenses set forth above and the
example below reflect the non-imposition of certain expenses. The following
example assumes a 5% annual return. The assumed return is hypothetical and
should not be considered a representation of past or future annual return;
actual return may be greater or less than the assumed amount.
EXAMPLE:
You would pay the following expenses on a $1,000 investment, assuming (1)
5% gross annual return and (2) redemption at the end of each time period:
<TABLE>
<CAPTION>
INSTITUTIONAL INSTITUTIONAL
SERVICE CLASS PREMIUM CLASS
------------- -------------
<S> <C> <C>
1 year.......................................... $ 2 $ 7
3 years......................................... $ 7 $23
5 years......................................... $12 $40
10 years........................................ $27 $88
</TABLE>
<PAGE> 8
FINANCIAL HIGHLIGHTS
The following FINANCIAL HIGHLIGHTS are that of the Fund and its predecessor
fund, the Kansas Tax Free Income Portfolio (the "SEI Fund"). Prior to the
reorganization of the SEI Fund with and into the Fund, the Fund had not
commenced operations. The following financial highlights for fiscal year ended
August 31, 1997 have been audited by KPMG Peat Marwick LLP, independent public
accountants to the Fund. This information, as it relates to fiscal year ended
August 31, 1997, should be read in conjunction with the Fund's financial
statements and notes thereto which appear, along with the report of KPMG Peat
Marwick LLP, in the Fund's Annual Report to Shareholders for the Year Ended
August 31, 1997 (the "Annual Report"). Additional performance information is set
forth in the Annual Report, which is available upon request and without charge
by calling (888) 266-8787. The financial highlights for fiscal years ended
August 31, 1991 through 1996 were audited by Arthur Andersen LLP, independent
public accountants to the SEI Fund and should be read in conjunction with the
respective period financial statements and notes thereto included in the annual
reports of the SEI Funds.
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
KANSAS TAX-EXEMPT BOND FUND(a)
Years Ended August 31,
-----------------------------------------------------------------------------
1997 1996 1995 1994 1993 1992 1991(1)
---- ---- ---- ---- ---- ---- -------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Asset Value, beginning
of period......................... $10.51 $10.63 $10.47 $10.91 $10.50 $10.13 $10.00
Investment Activities:
Net investment income............. 0.55 0.56 0.57 0.57 0.58 0.60 0.42
Net realized and unrealized gains
(losses) from investments...... 0.19 (0.12) 0.16 (0.42) 0.46 0.37 0.08
---- ------ ---- ------ ----- ---- ----
Total from Investment Activities: 0.74 0.44 0.73 0.15 1.04 0.97 0.50
---- ----- ---- ---- ---- ---- ----
Distributions:
Net investment income............. (0.59) (0.56) (0.57) (0.57) (0.58) (0.59) (0.37)
Net realized gains................ -- -- -- (0.02) (0.05) (0.01) ---
------ ------ ------ ------ ------ ------ ------
Total Distributions............ (0.59) (0.56) (0.57) (0.59) (0.63) (0.60) (0.37)
Net Asset Value, end of period....... $10.66 $10.51 $10.63 $10.47 $10.91 $10.50 $10.13
====== ====== ====== ====== ====== ======= ======
Total Return......................... 7.27% 4.23% 7.23% 1.41% 10.38% 9.78% 5.12%
Ratios/Supplementary Data:
Net assets at end of period (000).. $96,780 $72, 066 $65,834 $62,346 $58,197 $45,609 $29,242
Ratio of expenses to
average net assets............. 0.21% 0.21% 0.21% 0.21% 0.21% 0.22% 0.31%**
Ratio of net investment income
to average net assets.......... 5.20% 5.31% 5.47% 5.36% 5.56% 5.87% 5.85%**
Ratio of expenses to average
net assets*.................... 0.62% 0.51% 0.51% 0.54% 0.51% 0.52% 0.61%**
Ratio of net investment income
to average net assets*......... 4.79% 5.01% 5.17% 5.03% 5.26% 5.57% 5.55%**
Portfolio turnover................ 8.78% 12.71% 17.60% 10.57% 23.04% 12.69% 21.82%**
</TABLE>
* During the period certain fees were voluntarily reduced. If such voluntary
fee reductions had not occurred, the ratios would have been as indicated.
** Annualized.
(a) Formerly the Kansas Tax Free Income Portfolio of the SEI Tax Exempt Trust
(the "SEI Fund"). As approved by its shareholders at a special shareholders
meeting held April 28, 1997, effective May 17, 1997, the SEI Fund was
reorganized into the Kansas Tax-Exempt Bond Fund (the "Fund") as transacted
by (a) the tax-free transfer of all of the assets and liabilities of the
SEI Fund to the Fund in exchange for shares of the Fund; (b) the
distribution of the Fund's shares to shareholders of the SEI Fund; and (c)
the termination of the SEI Fund as a series of the SEI Tax Exempt Trust.
The Fund retained the investment objectives and assumed the financial
reporting history of the SEI Fund. The Fund is currently offered in the
Institutional Service Class only. Effective September 1, 1997, the Fund
changed its fiscal year end from August 31 to October 31.
<PAGE> 9
PART B
<PAGE> 10
KANSAS TAX-EXEMPT BOND FUND
PORTFOLIO OF
INTRUST FUNDS TRUST
SUPPLEMENT DATED DECEMBER 22, 1997
TO STATEMENT OF ADDITIONAL INFORMATION
DATED JANUARY 8, 1997 AND AMENDED JUNE 27, 1997
This Supplement is provided to update certain information regarding the
Kansas Tax-Exempt Bond Fund (the "Fund") and should be read in conjunction with
the information provided in the Statement of Additional Information.
ADVISORY, ADMINISTRATIVE AND DISTRIBUTION FEES
Advisory Fees. For the fiscal year ended August 31, 1997, INTRUST Bank,
N.A., as Adviser to the Fund, was entitled to advisory fees in the amount of
$241,317 from the Fund but waived these fees in their entirety. For the fiscal
years ended August 31, 1996 and August 31, 1995, INTRUST Bank, N.A., as Advisor
to the Kansas Tax Free Income Portfolio of SEI Tax-Exempt Trust, the predecessor
to the Fund (the "Predecessor Fund"), was entitled to advisory fees in the
amount of $202,000 and $188,000 respectively, but waived these fees in their
entirety.
Administrative Services Fees. Pursuant to an Administrative Services
Contract between INTRUST Funds Trust and BISYS Fund Services Limited Partnership
d/b/a BISYS Fund Services, BISYS Fund Services as administrator of the Fund was
entitled to administrative services fees in the amount of $133,773 from the
Fund, but waived $58,661 of these fees. For the fiscal years ended August 31,
1996 and August 31, 1995, SEI Fund Management, as administrator/manager to the
Predecessor Fund was entitled to management/administrative services fees in the
amount of $101,000 and $94,000, respectively. Of the amount of the fee stated
for the fiscal year ended August 31, 1995, SEI Fund Management waived $3,000.
Distributor and Distribution Plan. For fiscal years ended August 31, 1996
and August 31, 1995, SEI Financial Services Company, as Distributor to the
Predecessor Fund, retained as distribution fees $1,614 and $3,468, respectively,
in connection with the sales charges collected on shares of the Predecessor
Fund. For the fiscal year ended August 31, 1997, inasmuch as the Fund's shares
are no longer subject to a sales charge, no distribution fees were paid to BISYS
Fund Services as Distributor of the Fund. In addition, the Fund has adopted a
Rule 12b-1 Distribution Plan and Agreement, pursuant to which BISYS Fund
Services, as distributor of the Fund, is entitled to receive a maximum of 0.25%
per annum of the average daily net assets of the Fund in connection with the
distribution and marketing of the Fund's shares. For the fiscal year ended
August 31, 1997, BISYS Fund Services waived all 12b-1 distribution fees.
PORTFOLIO TURNOVER
The portfolio turnover rate for the Fund for fiscal year ended August 31,
1997 was 8.78%. The portfolio turnover rate for the Kansas Tax Free Income
Portfolio of SEI Tax-Exempt Trust, the predecessor to the Fund, for the fiscal
year ended August 31, 1996 was 12.71%.
CAPITALIZATION
As of December 3, 1997, the officers and directors of INTRUST Funds Trust
collectively owned less than 1% of the outstanding shares of the Fund. As of
December 3, 1997, no person owned of record, or to the knowledge of management,
beneficially owned, five percent or more of the outstanding shares of the Fund
except as set forth below:
<TABLE>
<CAPTION>
Name and Address of
Account Holder Total Shares Percentage Owned
- -------------- ------------ ----------------
<S> <C> <C>
TRANSCO & Company 9,237,425.805 94.147%*
Cash Account
c/o INTRUST Bank/Trust Division
105 North Main
Wichita, KA 67201
</TABLE>
* disclaims beneficial ownership
<PAGE> 11
PERFORMANCE
For the 30-day period ended August 31, 1997, the yield for the Fund was
4.45% and tax equivalent yield, assuming a 39.6% federal tax rate, was 7.36%.
The average annual total returns for the Fund for one, five and since inception
periods were 7.27%, 6.06% and 6.72% respectively. Such performance includes the
prior performance of the SEI Kansas Tax Free Income Portfolio. Past performance
is no guarantee of future performance.
FINANCIAL STATEMENTS
The Report of Independent Accountants and Financial Statements of the
Kansas Tax-Exempt Bond Fund for the period ended August 31, 1997 are
incorporated herein by reference to the Fund's Annual Report, such Annual Report
having been audited by KPMG Peat Marwick LLP, independent accountants, and so
included and incorporated by reference in reliance upon the report of said firm,
which report is given upon their authority as experts in auditing and
accounting. Copies of such Annual Report are available without charge upon
request by writing to INTRUST Funds Trust., 3435 Stelzer Road, Columbus, Ohio
43219-8006 or telephoning (888) 266-8787.
<PAGE> 12
PART C. OTHER INFORMATION
Item 24. Financial Statements and Exhibits
(a) (1) Financial Statements for The Kansas Tax-Exempt Bond
Fund (the "Fund") included in Part A of this
Registration Statement: Financial Highlights for the
Period Ended August 31, 1997.
(2) Financial Statements included in Part B of this
Registration Statement:
All Funds:
Schedule of Portfolio Investments (unaudited),
Statement of Changes in Net Assets for the Period
Ended April 30, 1997 (unaudited), Statement of
Assets and Liabilities dated April 30, 1997
(unaudited), Statement of Operations for the Period
Ended April 30, 1997 (unaudited), Financial
Highlights for the Period Ended April 30, 1997,
Notes to Financial Statements dated April 30, 1997
(unaudited), Statement of Assets and Liabilities and
Notes Thereto as of December 6, 1996, Report of
Independent Accountants.(2)
Kansas Tax-Exempt Bond Fund only:
Portfolio of Investments dated August 31, 1997*;
Statements of Assets and Liabilities dated August
31, 1997*; Statements of Operations dated August 31,
1997*; Statements of Changes in Net Assets dated
August 31, 1997*; Notes to Financial Statements
dated August 31, 1997*; Independent Auditors' Report
dated October 10, 1997*
* Incorporated by reference to the Fund's Annual
Report filed with the Securities and Exchange
Commission on October 31, 1997.
(b) Exhibits
(1) Trust Instrument.(1)
(2) Bylaws of Registrant.(2)
(3) None.
(4) None.
(5) (a) Form of Master Investment Advisory
Agreement and Supplements between
Registrant and Adviser.(1)
(5) (b) Form of Sub-Advisory Agreements
between Adviser and Sub-Advisers.(1)
(5) (d) Form of Master Administration
Agreement and Supplements between
Registrant and Administrator.(1)
(6) Form of Master Distribution Contract and
Supplements between Registrant and
Distributor.(1)
<PAGE> 13
(7) None.
(8) Form of Custodian Contract between
Registrant and Custodian.(1)
(9) (a) Form of Transfer Agency and Service
Agreement between
Registrant and Transfer Agent.(1)
(9) (b) Form of Service Organization
Agreement.(1)
(10) Consent of Baker & McKenzie, counsel to
Registrant -- Filed herewith
(11)(a) Consent of KPMG Peat Marwick LLP --
filed herewith
(b) Consent of Arthur Andersen LLP --
filed herewith
(12) None.
(13) Subscription Agreement.(1)
(14) None.
(15) Form of Rule 12b-1 Distribution Plan and
Agreement between
Registrant and Distributor.(1)
(16) Schedule of Computation of Performance
Calculation.(2)
Schedule of Computation of Performance
Calculation for Kansas Tax Exempt Bond Fund
-- filed herewith
(17) Financial Data Schedule.(2)
Financial Data Schedule for Kansas Tax
Exempt Bond Fund -- filed herewith
(18) Rule 18f-3 Plan.(1)
Other Exhibits
(A) Power Of Attorney.(1)
- ------------------------
(1) Previously filed on December 23, 1996 as part of Pre-Effective Amendment
Number Three and incorporated by reference herein.
(2) Previously filed with Post-Effective Amendment No. 1 on June 27, 1997,
and incorporated by Reference herein.
- 2 -
<PAGE> 14
Item 25. Persons Controlled by or under Common Control with Registrant.
None.
Item 26. Number of Holders of Securities at December 3, 1997.
<TABLE>
<CAPTION>
<S> <C>
Money Market Fund 2
Short-Term Bond Fund 3
Intermediate Bond Fund 3
Stock Fund 3
International Multi-Manager 6
Stock Fund 8
Kansas Tax-Exempt Bond 7
Fund
</TABLE>
Item 27. Indemnification.
As permitted by Section 17(h) and (i) of the Investment
Company Act of 1940 (the "1940 Act") and pursuant to Article X of the
Registrant's Trust Instrument (Exhibit 1 to the Registration Statement), Section
4 of the Master Investment Advisory Contract between Registrant and the Adviser
(Exhibit 5(a) to this Registration Statement), and Section 14 of the Master
Distribution Contract between Registrant and the Distributor (Exhibit 6 to this
Registration Statement) officers, trustees, employees and agents of the
Registrant will not be liable to the Registrant, any shareholder, officer,
trustee, employee, agent or other person for any action or failure to act,
except for bad faith, willful misfeasance, gross negligence or reckless
disregard of duties, and those individuals may be indemnified against
liabilities in connection with the Registrant, subject to the same exceptions.
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 (the "Securities Act") may be permitted to trustees,
officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant understands 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 the successful defense of any action,
suit or proceeding) is asserted by such trustee, officer or controlling person
in connection with the securities being registered, the Registrant will, unless
in the opinion of its
- 3 -
<PAGE> 15
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.
The Registrant will purchase an insurance policy insuring its
officers and trustees against liabilities, and certain costs of defending claims
against such officers and trustees, to the extent such officers and trustees are
not found to have committed conduct constituting willful misfeasance, bad faith,
gross negligence or reckless disregard in the performance of their duties. The
insurance policy also insures the Registrant against the cost of indemnification
payments to officers under certain circumstances.
Section 4 of the Master Investment Advisory Contract between
Registrant and the Adviser and Section 9 of the Master Distribution Contract
between Registrant and the Distributor limit the liability of the Adviser, and
the distributor to liabilities arising from willful misfeasance, bad faith or
gross negligence in the performance of their respective duties or from reckless
disregard by them of their respective obligations and duties under the
agreements.
The Registrant hereby undertakes that it will apply the
indemnification provisions of its Declaration of Trust, By-Laws, Investment
Advisory Contracts and Distribution Contract in a manner consistent with Release
No. 11330 of the Securities and Exchange Commission under the 1940 Act so long
as the interpretations of Section 17(h) and 17(i) of such Act remain in effect
and are consistently applied.
Item 28. Business and Other Connections of INTRUST Bank, N.A.
INTRUST Bank, N.A. is a majority-owned subsidiary of INTRUST
Financial Corporation (formerly First Bancorp of Kansas), a
bank holding company. INTRUST Bank, N.A. is a national banking
association which provides a full range of banking and trust
services to clients. As of May 31, 1997 total assets under
management were approximately $1.6 billion. The principal
place of business address of the Adviser is 105 North Main
Street, Box One, Wichita, Kansas 67201. The executive officers
of INTRUST Bank, N.A. and INTRUST Financial Corporation and
such executive officers' positions during the past two years
are as follows:
INTRUST Bank, N.A.
<TABLE>
<CAPTION>
Name Position and Office
---- -------------------
<S> <C>
C.Q. Chandler, IV Chairman, President and Chief Executive
Officer (Vice Chairman prior to February,
1996)
</TABLE>
- 4 -
<PAGE> 16
<TABLE>
<CAPTION>
<S> <C>
J.V. Lentell Vice Chairman
Ron Baldwin Vice Chairman (Hired February, 1996;
Executive Vice President, Fourth Financial
Corporation prior to February, 1996)
Rick Beach Executive Vice President (Senior Vice
President, INTRUST Financial Corporation
prior to March, 1996)
INTRUST Financial Corporation
Name Position and Office
---- -------------------
C.Q. Chandler Chairman and Chief Executive Officer
C.Q. Chandler, IV President
J.V. Lentell Vice Chairman - INTRUST Bank, N.A.
Ron Baldwin Vice Chairman - INTRUST Bank, N.A.
(Hired February, 1996; Executive Vice
President, Fourth Financial Corporation
prior to February, 1996)
Rick Beach Executive Vice President (Senior Vice
President, prior to March, 1996)
</TABLE>
Item 29. Principal Underwriter
(a) BISYS acts as Distributor/Underwriter for other
registered investment companies.
(b) Officers and Directors.
<TABLE>
<CAPTION>
Name and Principal Positions and Offices with Positions and Offices with
Business Address Registrant Underwriter
- ---------------- ---------- -----------
<S> <C> <C>
BISYS Fund Services, Inc. None Sole General Partner
3435 Stelzer Road
Columbus, Ohio 43219
</TABLE>
- 5 -
<PAGE> 17
<TABLE>
<CAPTION>
<S> <C> <C>
WC Subsidiary Corporation None Sole Limited Partner
150 Clove Road
Little Falls, New Jersey 07424
The BISYS Group, Inc. None Sole Shareholder
150 Clove Road
Little Falls, New Jersey 07424
</TABLE>
(c) Not applicable.
Item 30. Location of Accounts and Records
All accounts, books and other documents required to be
maintained by Section 31(a) of the Investment Company Act of 1940 and the rules
thereunder are maintained at the offices of BISYS located at 3435 Stelzer Road,
Columbus, Ohio 43219 and INTRUST at 105 North Main Street, Box One, Wichita,
Kansas 63201 and AMR Investment Services, Inc., at 4333 Amon Carter Boulevard,
MD, 5645, Forth Worth, Texas 76155.
Item 31. Management Services
Not applicable.
Item 32. Undertakings.
(a) Registrant undertakes to call a meeting of
shareholders for the purpose of voting upon the
removal of a trustee if requested to do so by the
holders of at least 10% of the Registrant's
outstanding shares.
(b) Registrant undertakes to provide the support to
shareholders specified in Section 16(c) of the 1940
Act as though that section applied to the Registrant.
(c) Registrant undertakes to 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.
- 6 -
<PAGE> 18
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and
the Investment Company Act of 1940, as amended, Registrant certifies that it
meets all the requirements for effectiveness of this Registration Statement
pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Columbus, and State of Ohio, on
December 22, 1997.
INTRUST FUNDS TRUST
By: /s/ David Bunstine
-------------------------------------
David Bunstine, President
Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed below by the following persons in
the capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
/s/ Terry L. Carter*
- -----------------------------
Terry L. Carter Trustee December 22, 1997
/s/ Thomas F. Kice*
- -----------------------------
Thomas F. Kice Trustee December 22, 1997
/s/ George Mileusnic*
- -----------------------------
George Mileusnic Trustee December 22, 1997
/s/ John J. Pileggi
- -----------------------------
John J. Pileggi Trustee December 22, 1997
/s/ Thomas E. Shea*
- -----------------------------
Thomas E. Shea Trustee December 22, 1997
/s/ G.L. Best*
- -----------------------------
G.L. Best Trustee December 22, 1997
/s/ David Bunstine
- -----------------------------
David Bunstine President December 22, 1997
/s/ Thresa B. Dewar Treasurer (Principal December 22, 1997
- ----------------------------- Financial and Accounting
Thresa B. Dewar Officer)
</TABLE>
*By: /s/ John J. Pileggi
--------------------------------------
John J. Pileggi, Attorney-In-Fact
- 7 -
<PAGE> 19
SIGNATURES
AMR Investment Services Trust has duly caused this
Post-Effective Amendment No. 2 to the Registration Statement on Form N-1A of the
INTRUST FUNDS Trust to be signed on its behalf by the undersigned only with
respect to disclosures relating to the International Equity Portfolio, a series
of the AMR Investment Services Trust, "hereunto duly authorized, in the City of
Fort Worth and the State of Texas on December 22, 1997.
AMR INVESTMENT SERVICES TRUST
By: /s/ William F. Quinn
--------------------------------
William F. Quinn
President
Attest:
/s/ Barry Y. Greenberg
- ----------------------------------------
Barry Y. Greenberg
Vice President and Assistant Secretary
This Post-Effective Amendment No. 2 to the Registration
Statement on Form N-1A of the INTRUST Funds Trust has been signed below by the
following persons in the capacities and on the dates indicated only with respect
to disclosures relating to the International Equity Portfolio, a series of the
AMR Investment Services Trust.
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
/s/ William F. Quinn
- ----------------------------------
William F. Quinn President and Trustee December 22, 1997
/s/ Alan D. Feld
- ----------------------------------
Alan D. Feld Trustee December 22, 1997
/s/ Ben J. Fortson
- ----------------------------------
Ben J. Fortson Trustee December 22, 1997
/s/ John S. Justin
- ----------------------------------
John S. Justin Trustee December 22, 1997
/s/ Stephen D. O'Sullivan
- ----------------------------------
Stephen D. O'Sullivan Trustee December 22, 1997
/s/ Roger T. Staubach
- ----------------------------------
Roger T. Staubach Trustee December 22, 1997
/s/ Dr. Kneeland Youngblood Trustee December 22, 1997
- ----------------------------------
Dr. Kneeland Youngblood
</TABLE>
*By: /s/ William F. Quinn
---------------------------------------
William F. Quinn, Attorney-In-Fact
- 8 -
<PAGE> 20
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
10 Consent of Baker & McKenzie
11(a) Consent of KPMG Peat Marwick LLP
11(b) Consent of Arthur Anderson LLP
16 Schedule of Computation of Performance Calculation for
Kansas Tax Exempt Bond Fund
17 Financial Data Schedule for Kansas Tax Exempt Bond Fund
<PAGE> 1
Exhibit 10
[BAKER & MCKENZIE LETTERHEAD]
December 22, 1997
INTRUST Funds Trust
3435 Stelzer Road
Columbus, OH 43219
Re: INTRUST Funds Trust - Kansas Tax-Exempt Bond Fund
(Registration Nos. 333-447 and 811-7505
-------------------------------------------------
Dear Sir/Madam:
We hereby consent to the reference to our firm as Counsel in
Post-Effective Amendment No. 2 to Registration No. 333-447.
Very truly yours,
/s/ Baker & McKenzie
BAKER & MCKENZIE
<PAGE> 1
EXHIBIT 11(a)
INDEPENDENT AUDITORS' CONSENT
The Board of Trustees of
INTRUST Funds Trust:
We consent to the use of our report dated October 10, 1997 for the INTRUST Funds
Trust Kansas Tax-Exempt Bond Fund and incorporated by reference herein and to
the reference to our firm under the headings "Financial Highlights" in the
Supplement Dated December 22, 1997 to the Prospectus and "Financial Statements"
in the Supplement Dated December 22, 1997 to the Statement of Additional
Information.
/s/ KPMG Peat Marwick LLP
Columbus, Ohio
December 22, 1997
<PAGE> 1
Exhibit 11(b)
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
-----------------------------------------
As independent public accountants, we hereby consent to all references to our
firm included in Post-Effective Amendment No. 2 to the Registration Statement
on Form N-1A of The INTRUST Funds Trust (File No. 333-447).
/s/ Arthur Andersen LLP
Philadelphia, PA
December 19,1997
<PAGE> 1
INTRUST FUNDS TRUST
EXHIBIT 16
TOTAL RETURN
VARIABLE FUNDS
NO LOAD CALCULATIONS
THE INTRUST KANSAS TAX-EXEMPT BONDFUND
AGGREGATE TOTAL RETURN
WITH SALES LOAD OF: 0.00%
- ---------------------------
T=(ERV/P) - 1
WHERE: T = TOTAL RETURN
ERV = ENDING REDEEMABLE VALUE AT THE
END OF THE PERIOD OF A
HYPOTHETICAL $1,000 INVESTMENT
MADE AT THE BEGINNING OF THE
PERIOD.
P = A HYPOTHETICAL INITIAL PAYMENT OF $1,000.
EXAMPLE:
SINCE INCEPTION: ( 12/10/90 TO 08/31/97 ):
( 1,548.8 /1,000) - 1 = 54.88%
1 YEAR: ( 08/31/96 TO 08/31/97 ):
( 1,072.7 /1,000) - 1 = 7.27%
5 YEAR: ( 08/31/92 TO 08/31/97 ):
( 1,060.6 /1,000) - 1 = 6.06%
QUARTERLY: ( 05/31/97 TO 08/31/97 ):
( 1,023.5 /1,000) - 1 = 2.35%
MONTHLY: ( 07/31/97 TO 08/31/97 ):
( 993.1 /1,000) - 1 = -0.69%
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006242
<NAME> INTRUST FUNDS TRUST
<SERIES>
<NUMBER> 010
<NAME> KANSAS TAX-EXEMPT BOND FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 95349216
<INVESTMENTS-AT-VALUE> 97813163
<RECEIVABLES> 2047360
<ASSETS-OTHER> 58
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 99860581
<PAYABLE-FOR-SECURITIES> 2658659
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 422015
<TOTAL-LIABILITIES> 3080674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 94176562
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 139398
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2463947
<NET-ASSETS> 96779907
<DIVIDEND-INCOME> 51865
<INTEREST-INCOME> 4304037
<OTHER-INCOME> 0
<EXPENSES-NET> 169003
<NET-INVESTMENT-INCOME> 4186899
<REALIZED-GAINS-CURRENT> 142735
<APPREC-INCREASE-CURRENT> 1312942
<NET-CHANGE-FROM-OPS> 5642576
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4508562
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2933096
<NUMBER-OF-SHARES-REDEEMED> 707944
<SHARES-REINVESTED> 129
<NET-CHANGE-IN-ASSETS> 24714535
<ACCUMULATED-NII-PRIOR> 3578839
<ACCUMULATED-GAINS-PRIOR> 131814
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 241317
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 495208
<AVERAGE-NET-ASSETS> 80507037
<PER-SHARE-NAV-BEGIN> 10.51
<PER-SHARE-NII> .55
<PER-SHARE-GAIN-APPREC> .19
<PER-SHARE-DIVIDEND> .59
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.66
<EXPENSE-RATIO> .21
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
