As filed via EDGAR with the Securities and Exchange Commission on June 16,
1997.
File No. 811-7841
Registration No. 333-13319
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | |
Pre-Effective Amendment No. | |
Post-Effective Amendment No. 1 |X|
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
Amendment No. 3 |X|
-------------------------------
MUTUAL FUND SELECT TRUST
(Exact Name of Registrant as Specified in Charter)
101 Park Avenue
New York, New York 10178
--------------------------------------------------
(Address of Principal Executive Office)
Registrant's Telephone Number, including Area Code: (212) 492-1600
Copies to:
George Martinez, Esq. Peter Eldridge, Esq. Gary S. Schpero, Esq.
BISYS Fund Services, Inc. Chase Manhattan Bank Simpson Thacher & Bartlett
3435 Stelzer Road 270 Park Avenue 425 Lexington Avenue
Columbus, Ohio 43219 New York, New York 10017 New York, New York 10017
- --------------------------------------------------------------------------------
(Name and Address of Agent for Service)
It is proposed that this filing will become effective:
|X| immediately upon filing pursuant to | | on ( ) pursuant to
paragraph (b) paragraph (b)
| | 60 days after filing pursuant to |_| on ( ) pursuant to
paragraph (a)(1) paragraph (a)(1)
|_| 75 days after filing pursuant to |_| on ( ) pursuant to
paragraph (a)(2) paragraph (a)(2) 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 registered an indefinite number or amount of its shares
of common stock for each of its series, now existing or hereafter created, under
the Securities Act of 1933 pursuant to Rule 24f-2 under the Investment Company
Act of 1940. The Registrant intends to file a 24f-2 Notice for the fiscal year
ending August 31, 1997 within 180 days after the close of such fiscal year.
<PAGE>
EXPLANATORY NOTE
The Prospectus for shares of Vista Select Intermediate Tax Free Income Fund,
Vista Select Tax Free Income Fund, Vista Select New York Tax Free Income Fund
and Vista Select New Jersey Tax Free Income Fund, dated December 30, 1996, is
incorporated by reference to the Registrant's filing of a definitive copy under
Rule 497(c) of the Securities Act of 1933, as amended (the "Securities Act"),
on December 31, 1996.
The Prospectus Supplement for the Vista Select Intermediate Tax Free Income
Fund, Vista Select Tax Free Income Fund, Vista Select New York Tax Free Income
Fund and Vista Select New Jersey Tax Free Income Fund, dated February 26, 1997,
is incorporated by reference to the Registrant's filing of a definitive copy
under Rule 497(e) of the Securities Act on February 26, 1997.
The Statement of Additional Information for Vista Select Intermediate Tax Free
Income Fund, Vista Select Tax Free Income Fund, Vista Select New York Tax Free
Income Fund and Vista Select New Jersey Tax Free Income Fund, dated December 30,
1996, is incorporated by reference to the Registrant's filing of a definitive
copy under Rule 497(c) of the Securities Act, on December 31, 1996.
<PAGE>
MUTUAL FUND SELECT TRUST
Registration Statement on Form N-1A
CROSS-REFERENCE SHEET
Pursuant to Rule 495(a) Under the Securities Act of 1933
VISTA(SM) SELECT INTERMEDIATE TAX FREE INCOME FUND
VISTA(SM) SELECT TAX FREE INCOME FUND
VISTA(SM) SELECT NEW YORK TAX FREE INCOME FUND
VISTA(SM) SELECT NEW JERSEY TAX FREE INCOME FUND
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part A Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
1 Front Cover Page *
2(a) Expense Summary *
(b) Not Applicable *
3(a) Not Applicable *
(b) Not Applicable *
(c) Performance Information *
4(a)(b) Other Information *
Concerning the Fund;
Fund Objective; Investment
Policies
(c) Fund Objective; Investment *
Policies
(d) Not Applicable *
5(a) Management *
(b) Management *
(c)(d) Management; Other Information Concerning the Fund *
</TABLE>
-i-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part A Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
(e) Other Information Concerning *
the Fund; Back Cover Page
(f) Other Information Concerning *
the Fund
(g) Not Applicable *
5A Not Applicable *
6(a) Other Information Concerning *
the Fund
(b) Not Applicable *
(c) Not Applicable *
(d) Not Applicable *
(e)(f) About Your Investment; How to Purchase and *
Redeem Shares; How Distributions Are
Made; Tax Information; Other Information
Concerning the Fund
(f) How Distributions are Made; *
Tax Information
(g) How Distributions are Made; *
Tax Information
(h) About Your Investment; How to Purchase and *
Redeem Shares; Other Information Concerning
the Fund
7(a) How to Purchase and Redeem Shares *
(b) How the Fund Values its Shares; *
How to Purchase and Redeem Shares
(c) Not Applicable *
(d) How to Purchase and Redeem Shares *
</TABLE>
-ii-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part A Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
(e) Management; Other Information *
Concerning the Fund
(f) Other Information Concerning the *
Fund
8(a) How to Purchase and Redeem Shares *
(b) How to Purchase and Redeem Shares *
(c) How to Purchase and Redeem Shares *
(d) How to Purchase and Redeem Shares *
9 Not Applicable *
</TABLE>
-iii-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part B Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
10 * Front Cover Page
11 * Front Cover Page
12 * Not Applicable
13(a)(b) Fund Objective; Investment Investment Policies
Policies and Restrictions
14(c) * Management of the Trust and
Funds
(b) * Not Applicable
(c) * Management of the Trust and
Funds
15(a) * Not Applicable
(b) * General Information
(c) * General Information
16(a) Management Management of the Trust and
Funds
(b) Management Management of the Trust and
Funds
(c) Other Information Concerning Management of the Trust and
the Fund Funds
(d) Management Management of the Trust and
Funds
(e) * Not Applicable
</TABLE>
-iv-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part B Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
(f) How to Purchase and Redeem Shares; Management of the Trust and
Other Information Concerning the Fund Funds
(g) * Not Applicable
(h) * Management of the Trust and
Funds
Independent Accountants
(i) * Not Applicable
17 Investment Policies Investment Policies and Restrictions
18(a) Other Information Concerning the Fund; General Information
How to Purchase and Redeem Shares
(b) * Not Applicable
19(a) How to Purchase and Redeem Shares Purchases and Redemptions
(b) How the Fund Values its Shares; How to Determination of Net Asset Value
Purchase and Redeem Shares
(c) * Purchases and Redemptions
20 How Distributions are Made; Tax Information Tax Matters
21(a) * Management of the Trust and Funds
(b) * Management of the Trust and Funds
(c) * Not Applicable
22 * Performance Information
23 * Not Applicable
</TABLE>
Part C
Information required to be included in Part C is set forth under the appropriate
item, so numbered, in Part C of this Registration Statement.
-v-
<PAGE>
VISTA SELECT TAX FREE INCOME FUND
VISTA SELECT INTERMEDIATE TAX FREE INCOME FUND
VISTA SELECT NEW YORK TAX FREE INCOME FUND
VISTA SELECT NEW JERSEY TAX FREE INCOME FUND
SUPPLEMENT DATED JUNE 16, 1997 TO THE PROSPECTUS
DATED DECEMBER 30, 1996
The "Financial Highlights" table below supplements the Funds' unaudited
financial statements incorporated by reference into the Statement of
Additional Information and sets forth certain information regarding the
investment operations of the Funds for the period presented.
The table set forth below provides selected per share data and ratios for one
share outstanding for each Fund throughout the period shown. This information
is supplemented by financial statements and accompanying notes appearing in the
Funds' Semiannual Report to Shareholders for the period ended February 28,
1997, which is incorporated by reference into the Statement of Additional
Information. Shareholders may obtain a copy of this semiannual report by
contacting the Fund. The financial statements and notes, as well as the
financial information set forth in the table below, have not been audited by
independent accountants.
- --------------------------------------------------------------------------------
Selected Per Share Data and Ratios for a Share of Beneficial Interest
Outstanding throughout the Period Indicated
<TABLE>
<CAPTION>
Vista Select
-------------------------------------------------------
Tax Intermediate New York New Jersey
Free Tax Free Tax Free Tax Free
Income Income Income Income
Fund Fund Fund Fund
-------- ------------ --------- -----------
1/1/97* 1/1/97* 1/1/97* 1/1/97*
through through through through
2/28/97 2/28/97 2/28/97 2/28/97
-------- ------------ --------- -----------
<S> <C> <C> <C> <C>
Per Share Operating Performance
Net Asset Value, Beginning of Period ......... $ 6.35 $ 10.71 $ 7.06 $ 9.95
-------- -------- -------- -------
Income from Investment Operations
Net Investment Income ........................ 0.061 0.097 0.066 0.092
Net Gains or Losses in Securities
(both realized and unrealized) ............ 0.030 0.060 0.050 0.050
-------- -------- -------- -------
Total from Investment Operations ............ 0.091 0.157 0.116 0.142
-------- -------- -------- -------
Less Distributions:
Dividends from Net Investment
Income .................................... 0.061 0.097 0.065 0.093
-------- -------- -------- -------
Total Distributions ........................ 0.061 0.097 0.065 0.093
-------- -------- -------- -------
Net Asset Value, End of Period .................. $ 6.38 $ 10.77 $ 7.11 $ 10.00
======== ======== ======== =======
Total Return ................................. 4.18% 4.29% 4.03% 2.83%
Ratios/Supplemental Data:
Net Assets, End of Period (000 omitted) ...... $656,244 $624,357 $215,396 $57,989
Ratios to Average Net Assets: #
Ratio of Expenses ........................... 0.02% 0.02% 0.03% 0.02%
Ratio of Net Investment Income ............... 5.93% 5.57% 5.74% 5.72%
Ratio of Expenses Without Waivers
and Assumption of Expenses ............... 0.50% 0.50% 0.52% 0.57%
Ratio of Net Investment Income
Without Waivers and Assumption of
Expenses ................................. 5.45% 5.09% 5.25% 5.17%
Portfolio Turnover Rate ........................ 10% 18% 2% 4%
</TABLE>
- --------------
* Commencement of operations.
# Short periods have been annualized. VSTF-36-597
<PAGE>
MUTUAL FUND SELECT TRUST
SUPPLEMENT DATED JUNE 16, 1997
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED DECEMBER 30, 1996
In the section of the Statement of Additional Information entitled "General
Information," the following is inserted in lieu of the Statement of Assets and
Liabilities, Notes and Report of Independent Accountants, all of which appear
on pages 36-38:
The Financial Statements and Notes to Financial Statements as presented in the
Funds' Semiannual Report to Shareholders dated February 28, 1997 are
incorporated herein by reference.
<PAGE>
PART C
MUTUAL FUND SELECT TRUST
PART C. OTHER INFORMATION
ITEM 24. Financial Statements and Exhibits
(a) Financial statements
In Part A: Financial Highlights
In Part B: Financial Statements and the Reports thereon
for the Funds for the period ended February
28, 1997 are incorporated by reference into
Part B as part of the February 28, 1997
Semi-Annual Report to Shareholders for the
Funds as filed with the Securities and
Exchange Commission by Mutual Fund Select
Trust on Form N-30D on May 1, 1997, accession
number 0000950123-97-003724, which is
incorporated by reference into Part B.
In Part C: None.
(b) Exhibits:
Exhibit
Number
- -------
1 Declaration of Trust (1)
2 By-laws. (1)
3 None.
4 None.
5(a) Form of Investment Advisory Agreement. (1)
5(b) Form of Sub-Advisory Agreement between The Chase Manhattan
Bank and Chase Asset Management, Inc.(1)
5(c) Form of Investment Subadvisory Agreement between The Chase
Manhattan Bank and Chase Asset Management (London) Limited (1)
6 Form of Distribution and Sub-Administration Agreement (1)
7(a) Form of Retirement Plan for Eligible Trustees.(2)
7(b) Form of Deferred Compensation Plan for Eligible Trustees. (2)
8 Form of Custodian Agreement.(1)
9(a) Form of Transfer Agency Agreement. (1)
9(b) Form of Administration Agreement. (1)
C-1
<PAGE>
10 Opinion re: Legality of Securities being Registered. (4)
11 Consent of Price Waterhouse LLP (4)
12 None.
13 Form of Share Purchase Agreement. (3)
14 None.
15 None.
16 Schedule for Computation for Each Performance Quotation.(4)
17 Financial Data Schedules (5)
18 Not Applicable
24 Powers of Attorney. (4)
- --------------------
(1) Filed as an exhibit to the Registration Statement on Form N-1A of the
Registrant (File No. 333-13319) As filed with the Securities and Exchange
Commission on October 2, 1996.
(2) Incorporated by reference to Amendment No. 6 to the Registration Statement
on Form N-1A of Mutual Fund Group (File No. 33-14196) as filed with the
Securities and Exchange Commission on March 23, 1990.
(3) Filed as an exhibit to Amendment No. 1 to the Registration Statement on Form
N-1A of the Registrant (File No. 333-13319) as filed with the Securities
and Exchange Commission on November 14, 1996.
(4) Filed as an exhibit to Amendment No. 2 to the Registration Statement on Form
N-1A of the Registrant (File No. 333-13319) as filed with the Securities
and Exchange Commission on December 19, 1996.
(5) Filed herewith
ITEM 25. Persons Controlled by or Under Common
Control with Registrant
Not applicable
C-2
<PAGE>
ITEM 26. Number of Holders of Securities
Number of Record Holders
Title of Series as of May 31, 1997
--------------- ------------------------
VISTA(SM) SELECT INTERMEDIATE TAX FREE INCOME FUND 14
VISTA(SM) SELECT TAX FREE INCOME FUND 12
VISTA(SM) SELECT NEW YORK TAX FREE INCOME FUND 10
VISTA(SM) SELECT NEW JERSEY TAX FREE INCOME FUND 10
ITEM 27. Indemnification
Reference is hereby made to Article V of the Registrant's Declaration
of Trust.
The Trustees and officers of the Registrant and the personnel of the
Registrant's investment adviser, administrator and distributor are insured under
an errors and omissions liability insurance policy. The Registrant and its
officers are also insured under the fidelity bond required by Rule 17g-1 under
the Investment Company Act of 1940.
Under the terms of the Registrant's Declaration of Trust, the
Registrant may indemnify any person who was or is a Trustee, officer or employee
of the Registrant to the maximum extent permitted by law; provided, however,
that any such indemnification (unless ordered by a court) shall be made by the
Registrant only as authorized in the specific case upon a determination that
indemnification of such persons is proper in the circumstances. Such
determination shall be made (i) by the Trustees, by a majority vote of a quorum
which consists of Trustees who are neither in Section 2(a)(19) of the Investment
Company Act of 1940, nor parties to the proceeding, or (ii) if the required
quorum is not obtainable or, if a quorum of such Trustees so directs, by
independent legal counsel in a written opinion. No indemnification will be
provided by the Registrant to any Trustee or officer of the Registrant for any
liability to the Registrant or shareholders to which he would otherwise be
subject by reason of willful misfeasance, bad faith, gross negligence or
reckless disregard of duty.
Insofar as the conditional advancing of indemnification monies for
actions based upon the Investment Company Act of 1940 may be concerned, such
payments will be made only on the following conditions: (i) the advances must be
limited to amounts used, or to be used, for the preparation or presentation of a
defense to the action, including costs connected with the preparation of a
settlement; (ii) advances may be made only upon receipt of a written promise by,
or on behalf of, the recipient to repay that amount of the advance which exceeds
that amount to which it is ultimately determined that he is entitled to receive
from the Registrant by reason of indemnification; and (iii) (a) such promise
must be secured by a surety bond, other suitable
C-3
<PAGE>
insurance or an equivalent form of security which assures that any repayments
may be obtained by the Registrant without delay or litigation, which bond,
insurance or other form of security must be provided by the recipient of the
advance, or (b) a majority of a quorum of the Registrant's disinterested,
non-party Trustees, or an independent legal counsel in a written opinion, shall
determine, based upon a review of readily available facts, that the recipient of
the advance ultimately will be found entitled to indemnification.
Insofar as indemnification for liability arising under the
Securities Act of 1933 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 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 it 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 Act and will
be governed by the final adjudication of such issue.
ITEM 28(a). Business and Other Connections of Investment Adviser
The Chase Manhattan Bank (the "Adviser") is a commercial bank
providing a wide range of banking and investment services.
To the knowledge of the Registrant, none of the Directors or
executive officers of the Adviser, except those described below, are or have
been, at any time during the past two years, engaged in any other business,
profession, vocation or employment of a substantial nature, except that certain
Directors and executive officers of the Adviser also hold or have held various
positions with bank and non-bank affiliates of the Adviser, including its
parent, The Chase Manhattan Corporation. Each Director listed below is also a
Director of The Chase Manhattan Corporation.
<TABLE>
<CAPTION>
Principal Occupation or Other
Position with Employment of a Substantial
Name the Adviser Nature During Past Two Years
- ---- ----------- ----------------------------
<S> <C> <C>
Thomas G. Labreque President and Chief Operating Officer Chairman, Chief Executive Officer
and Director and a Director of The Chase
Manhattan Corporation and a
Director of AMAX, Inc.
M. Anthony Burns Director Chairman of the Board, President
and Chief Executive Officer of
Ryder System, Inc.
</TABLE>
C-4
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
H. Laurance Fuller Director Chairman, President, Chief
Executive Officer and Director of
Amoco Corporation and Director of
Abbott Laboratories
Paul W. MacAvoy Director Dean of Yale School of
Organization and Management
David T. McLaughlin Director President and Chief Executive
Officer of The Aspen Institute,
Chairman of Standard Fuse
Corporation and a Director of each
of ARCO Chemical Company and
Westinghouse Electric Corporation
Edmund T. Pratt, Jr. Director Chairman Emeritus, formerly
Chairman and Chief Executive
Officer, of Pfizer Inc. and a
Director of each of Pfizer, Inc.,
Celgene Corp., General Motors
Corporation and International Paper
Company
Henry B. Schacht Director Chairman and Chief Executive
Officer of Cummins Engine
Company, Inc. and a Director of
each of American Telephone and
Telegraph Company and CBS Inc.
Donald H. Trautlein Director Retired Chairman and Chief
Executive Officer of Bethlehem
Steel Corporation
</TABLE>
C-5
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
James L. Ferguson Director Retired Chairman and Chief
Executive Officer of General Foods
Corporation
William H. Gray III Director President and Chief Executive
Officer of the United Negro College
Fund, Inc
David T. Kearns Director Retired Chairman and Chief
Executive Officer of the Xerox
Corporation
Delano E. Lewis Director President and Chief Executive
Officer of National Public Radio
John H. McArthur Director Dean of the Harvard Graduate
School of Business Administration
Frank A. Bennack, Jr. Director President and Chief Executive Officer
The Hearst Corporation
Michael C. Bergerac Director Chairman of the Board and
Chief Executive Officer Bergerac & Co., Inc.
Susan V. Berresford Director President, The Ford Foundation
Randolph W. Bromery Director President, Springfield College; President,
Geoscience Engineering Corporation
Charles W. Duncan, Jr. Director Private Investor
Melvin R. Goodes Director Chairman of the Board and Chief Executive
Officer, The Warner-Lambert Company
George V. Grune Director Retired Chairman and Chief Executive
Officer, The Reader's Digest Association,
Inc.; Chairman, The DeWitt Wallace-
Reader's Digest Fund; The Lila-Wallace
Reader's Digest Fund
William B. Harrison, Jr. Vice Chairman of the Board
Harold S. Hook Director Chairman and Chief Executive Officer,
General Corporation
Helen L. Kaplan Director Of Counsel, Skadden, Arps, Slate, Meagher
& Flom
E. Michael Kruse Vice Chairman of the Board
J. Bruce Llewellyn Director Chairman of the Board, The Philadelphia
Coca-Cola Bottling Company, The Coca-
Cola Bottling Company of Wilmington,
Inc., Queen City Broadcasting, Inc.
John P. Mascotte Director Chairman, The Missouri Corporation of
Johnson & Higgins
John F. McGillicuddy Director Retired Chairman of the Board and
Chief Executive Officer
Edward D. Miller Senior Vice Chairman
of the Board
Walter V. Shipley Chairman of the Board and
Chief Executive Officer
Andrew C. Sigler Director Chairman of the Board and Chief
Executive Officer, Champion International
Corporation
Michael I. Sovern Director President, Emeritus and Chancellor Kent,
Professor of Law, Columbia University
John R. Stafford Director Chairman, President and Chief Executive
Officer, American Home Products
Corporation
W. Bruce Thomas Director Private Investor
Marina v. N. Whitman Director Professor of Business Administration and
Public Policy, University of Michigan
Richard D. Wood Director Retired Chairman of the Board, Eli Lilly
and Company
</TABLE>
<PAGE>
Item 28(b)
Chase Asset Management ("CAM") is an Investment Advisor providing investment
services to institutional clients.
To the knowledge of the Registrant, none of the Directors or executive
officers of the CAM, except those described below, are or have been, at any time
during the past two years, engaged in any other business, profession, vocation
or employment of a substantial nature, except that certain Directors and
executive officers of the CAM also hold or have held various positions with bank
and non-bank affiliates of the Advisor, including its parent, The Chase
Manhattan Corporation.
Principal Occupation or Other
Position with Employment of a Substantial
Name the Sub-Advisor Nature During Past Two Years
- ---- --------------- ----------------------------
James Zeigon Chairman and Director Director of Chase Asset
Management (London) Limited
Steven Prostano Executive Vice President Chief Operating Officer and
and Chief Operating Officer Director of Chase Asset
Management (London) Limited
Mark Richardson President and Chief Investment Chief Investment Officer
Officer and Director of Chase Asset
Management (London) Limited
<PAGE>
ITEM 29. Principal Underwriters
(a) Vista Fund Distributors, Inc., a wholly-owned subsidiary of
The BISYS Group, Inc. is the underwriter for Mutual Fund Group, Mutual Fund
Trust and Mutual Fund Select Group.
(b) The following are the Directors and officers of Vista Fund
Distributors, Inc. The principal business address of each of these persons, is
listed below.
<TABLE>
<CAPTION>
Position and Offices Position and Offices
Name and Address with Distributor with the Registrant
- ---------------- -------------------- --------------------
<S> <C> <C>
Lynn J. Mangum Chairman None
150 Clove Street
Little Falls, NJ 07424
Robert J. McMullan Director and Exec. Vice President None
150 Clove Street
Little Falls, NJ 07424
Lee W. Schultheis President None
101 Park Avenue, 16th Floor
New York, NY 10178
George O. Martinez Senior Vice President None
3435 Stelzer Road
Columbus, OH 43219
Irimga McKay Vice President None
1230 Columbia Street
5th Floor, Suite 500
San Diego, CA 92101
Michael Burns Vice President/Compliance None
3435 Stelzer Road
Columbus, OH 43219
William Blundin Vice President None
125 West 55th Avenue
11th Floor
New York, NY 10019
Dennis Sheehan Vice President None
150 Clove Street
Little Falls, NJ 07424
Annamaria Porcaro Assistant Secretary None
150 Clove Street
Little Falls, NJ 97424
Robert Tuch Assistant Secretary None
3435 Stelzer Road
Columbus, OH 43219
Stephen Mintos Executive Vice President/COO None
3435 Stelzer Road
Columbus, OH 43219
Dale Smith Vice President/CFO None
3435 Stelzer Road
Columbus, OH 43219
William J. Tomko Vice President None
3435 Stelzer Road
Columbus, OH 43219
</TABLE>
(c) Not applicable
C-6
<PAGE>
ITEM 30. Location of Accounts and Records
The accounts and records of the Registrant are located, in whole or in
part, at the office of the Registrant and the following locations:
Name Address
---- -------
Vista Fund Distributors, Inc. 101 Park Avenue,
New York, NY 10178
DST Systems, Inc. 210 W. 10th Street,
Kansas City, MO 64105
The Chase Manhattan Bank 270 Park Avenue,
New York, NY 10017
Chase Asset Mangement, Inc. 1211 Avenue of the
Americas,
New York, NY 10036
The Chase Manhattan Bank One Chase Square,
Rochester, NY 14363
ITEM 31. Management Services
Not applicable
ITEM 32. Undertakings
(1) Registrant undertakes that its trustees shall promptly
call a meeting of shareholders of the Trust for the purpose of voting upon the
question of removal of any such trustee or trustees when requested in writing so
to do by the record holders of not less than 10 per centum of the outstanding
shares of the Trust. In addition, the Registrant shall, in certain
circumstances, give such shareholders assistance in communicating with other
shareholders of a fund as required by Section 16(c) of the Investment Company
Act of 1940.
(2) The Registrant, on behalf of the Funds, undertakes,
provided the information required by Item 5A is contained in the latest annual
report to shareholders, to furnish to each person to whom a prospectus has been
delivered, upon their request and without charge, a copy of the Registrant's
latest annual report to shareholders.
C-7
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment
Company Act of 1940, the Registrant has certified that it meets all of the
requirements for effectiveness pursuant to Rule 485(b) under the Securities Act
and has duly caused this Post-Effective Amendment to its Registration Statement
on Form N-1A to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of New York and the State of New York on the 16th day of
June, 1997.
MUTUAL FUND GROUP
By /s/ H. Richard Vartabedian
--------------------------
H. Richard Vartabedian
President
Pursuant to the requirements of the Securities Act of 1933, this Post-Effective
Amendment to the Registration Statement has been signed below by the following
persons in the capacities and on the dates indicated.
* Chairman and Trustee June 16, 1997
- -------------------------------
Fergus Reid, III
* Trustee June 16, 1997
- -------------------------------
William J. Armstrong
* Trustee June 16, 1997
- -------------------------------
John R.H. Blum
* Trustee June 16, 1997
- -------------------------------
Joseph J. Harkins
* Trustee June 16, 1997
- -------------------------------
Richard E. Ten Haken
* Trustee June 16, 1997
- -------------------------------
Stuart W. Cragin, Jr.
* Trustee June 16, 1997
- -------------------------------
Irv Thode
/s/ H. Richard Vartabedian President June 16, 1997
- ------------------------------- and Trustee
H. Richard Vartabedian
*
- ------------------------------- Trustee June 16, 1997
W. Perry Neff
*
- ------------------------------- Trustee June 16, 1997
Roland R. Eppley, Jr.
*
- ------------------------------- Trustee June 16, 1997
W.D. MacCallan
C-8
<PAGE>
/s/ Martin R. Dean Treasurer and June 16, 1997
- ------------------------------- Principal Financial
Martin R. Dean Officer
/s/ H. Richard Vartabedian Attorney in June 16, 1997
- ------------------------------- Fact
H. Richard Vartabedian
<PAGE>
Exhibit
Number
- --------
27 Financial Data Schedules
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001023772
<NAME> VISTA SELECT INTERMEDIATE TAX FREE INCOME FUND
<SERIES>
<NUMBER> 010
<NAME> VISTA SELECT INTERMEDIATE TAX FREE INCOME FUND
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 592,014,358
<INVESTMENTS-AT-VALUE> 623,238,521
<RECEIVABLES> 18,409,546
<ASSETS-OTHER> 54,443
<OTHER-ITEMS-ASSETS> 40,470
<TOTAL-ASSETS> 641,742,980
<PAYABLE-FOR-SECURITIES> 14,510,138
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,876,047
<TOTAL-LIABILITIES> 17,386,185
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 588,223,359
<SHARES-COMMON-STOCK> 57,964,313
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (41,915)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,951,188
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31,224,163
<NET-ASSETS> 624,356,795
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,638,967
<OTHER-INCOME> 0
<EXPENSES-NET> 18,174
<NET-INVESTMENT-INCOME> 5,620,793
<REALIZED-GAINS-CURRENT> 4,951,188
<APPREC-INCREASE-CURRENT> 31,224,163
<NET-CHANGE-FROM-OPS> 41,796,144
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,662,708
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 59,243,380
<NUMBER-OF-SHARES-REDEEMED> 1,548,277
<SHARES-REINVESTED> 269,210
<NET-CHANGE-IN-ASSETS> 624,356,795
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 302,822
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 501,025
<AVERAGE-NET-ASSETS> 624,608,945
<PER-SHARE-NAV-BEGIN> 10.71
<PER-SHARE-NII> .097
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> .097
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.77
<EXPENSE-RATIO> .02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001023772
<NAME> VISTA SELECT TAX FREE INCOME FUND
<SERIES>
<NUMBER> 020
<NAME> VISTA SELECT TAX FREE INCOME FUND
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 637,695,951
<INVESTMENTS-AT-VALUE> 662,454,155
<RECEIVABLES> 20,676,434
<ASSETS-OTHER> 47,389
<OTHER-ITEMS-ASSETS> 53,902
<TOTAL-ASSETS> 683,231,880
<PAYABLE-FOR-SECURITIES> 23,124,239
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,863,163
<TOTAL-LIABILITIES> 26,987,402
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 630,687,045
<SHARES-COMMON-STOCK> 102,836,402
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 49,594
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 749,635
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,758,204
<NET-ASSETS> 656,244,478
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,305,218
<OTHER-INCOME> 0
<EXPENSES-NET> 21,210
<NET-INVESTMENT-INCOME> 6,284,008
<REALIZED-GAINS-CURRENT> 749,635
<APPREC-INCREASE-CURRENT> 24,758,204
<NET-CHANGE-FROM-OPS> 31,791,847
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,234,414
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 105,918,763
<NUMBER-OF-SHARES-REDEEMED> 3,546,986
<SHARES-REINVESTED> 464,635
<NET-CHANGE-IN-ASSETS> 656,244,478
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 318,186
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 524,769
<AVERAGE-NET-ASSETS> 655,750,425
<PER-SHARE-NAV-BEGIN> 6.35
<PER-SHARE-NII> .061
<PER-SHARE-GAIN-APPREC> .03
<PER-SHARE-DIVIDEND> .061
<PER-SHARE-DISTRIBUTIONS> .0
<RETURNS-OF-CAPITAL> .0
<PER-SHARE-NAV-END> 6.38
<EXPENSE-RATIO> .02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001023772
<NAME> VISTA SELECT NEW YORK TAX FREE INCOME FUND
<SERIES>
<NUMBER> 030
<NAME> VISTA SELECT NEW YORK TAX FREE INCOME FUND
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 203,382,020
<INVESTMENTS-AT-VALUE> 212,846,602
<RECEIVABLES> 3,477,355
<ASSETS-OTHER> 14,416
<OTHER-ITEMS-ASSETS> 21,419
<TOTAL-ASSETS> 216,359,792
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 964,026
<TOTAL-LIABILITIES> 964,026
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 205,681,106
<SHARES-COMMON-STOCK> 30,281,131
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 25,549
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 224,529
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,464,582
<NET-ASSETS> 215,395,766
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,951,039
<OTHER-INCOME> 0
<EXPENSES-NET> 10,137
<NET-INVESTMENT-INCOME> 1,940,902
<REALIZED-GAINS-CURRENT> 224,529
<APPREC-INCREASE-CURRENT> 9,464,582
<NET-CHANGE-FROM-OPS> 11,630,013
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,915,353
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,795,344
<NUMBER-OF-SHARES-REDEEMED> 561,610
<SHARES-REINVESTED> 47,397
<NET-CHANGE-IN-ASSETS> 215,395,766
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 101,481
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 176,367
<AVERAGE-NET-ASSETS> 209,476,133
<PER-SHARE-NAV-BEGIN> 7.06
<PER-SHARE-NII> .066
<PER-SHARE-GAIN-APPREC> .05
<PER-SHARE-DIVIDEND> .065
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 7.11
<EXPENSE-RATIO> .030
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001023772
<NAME> VISTA SELECT NEW JERSEY TAX FREE INCOME FUND
<SERIES>
<NUMBER> 040
<NAME> VISTA SELECT NEW JERSEY TAX FREE INCOME FUND
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 56,185,130
<INVESTMENTS-AT-VALUE> 59,106,466
<RECEIVABLES> 775,143
<ASSETS-OTHER> 9,359
<OTHER-ITEMS-ASSETS> 7,345
<TOTAL-ASSETS> 59,898,313
<PAYABLE-FOR-SECURITIES> 1,545,763
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 363,208
<TOTAL-LIABILITIES> 1,908,971
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 55,017,090
<SHARES-COMMON-STOCK> 5,797,632
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (1,949)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 52,865
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,921,336
<NET-ASSETS> 57,989,342
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 530,110
<OTHER-INCOME> 0
<EXPENSES-NET> 1,480
<NET-INVESTMENT-INCOME> 528,630
<REALIZED-GAINS-CURRENT> 52,865
<APPREC-INCREASE-CURRENT> 2,921,336
<NET-CHANGE-FROM-OPS> 3,502,831
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 530,579
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,833,236
<NUMBER-OF-SHARES-REDEEMED> 62,172
<SHARES-REINVESTED> 26,568
<NET-CHANGE-IN-ASSETS> 57,989,342
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27,698
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52,910
<AVERAGE-NET-ASSETS> 57,114,698
<PER-SHARE-NAV-BEGIN> 9.95
<PER-SHARE-NII> .092
<PER-SHARE-GAIN-APPREC> .051
<PER-SHARE-DIVIDEND> .093
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> .020
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
