<TABLE>
<CAPTION>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
--------------------------------
Washington, D.C. 20549 OMB APPROVAL
--------------------------------
OMB Number: 3235-0360
FORM N-17f-2 Expires
Estimated average burden
Certificate of Accounting of Securities and Similar hours per response...0.05
Investments in the Custody of --------------------------------
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
- ------------------------------------------------------------ -----------------------------------------------------------------------
<S> <C>
1. Investment Company Act File Number: Date Examination completed:
811-8606 September 24, 1999, September 28, 1999, September 30, 1999
- ------------------------------------------------------------ -----------------------------------------------------------------------
2. State identification Number:
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
AL AK AZ AR CA CO
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
CT DE DC FL GA HI
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
ID IL IN IA KS KY
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
LA ME MD MA MI MN
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
MS MO MT NE NV NH
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
NJ NM NY NC ND OH
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
OK OR PA RI SC SD
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
TN TX UT VT VA WA
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
WV WI WY Puerto Rico
---------------------- ------------------------ -------------------- --------------------------------------------------------
Other (specify):
- ------ -----------------------------------------------------------------------------------------------------------------------------
3. Exact name of investment company as specified in registration statement:
AARP Managed Investment Portfolio Trust, AARP Diversified Income with Growth Portfolio
- ------ -----------------------------------------------------------------------------------------------------------------------------
- ------ -----------------------------------------------------------------------------------------------------------------------------
4. Address of principal executive office (number, street, city, state, zip code):
Two International Place, Boston MA, 02110
- ------ -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
INSTRUCTIONS
This Form must be completed by investment companies that have custody of
securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in compliance
with Rule 17f-2 under the Act and applicable state law, examines
securities and similar investments in the custody of the investment
company.
Accountant
3. Submit this Form to the securities and Exchange Commission and
appropriate state securities administrators when filing the certificate
of accounting required by Rule 17f-2 under the Act and applicable state
law. File the original and one copy with the Securities and Exchange
Commission's principal office in Washington, D.C., one copy with the
regional office for the region in which the investment company's
principal business operations are conducted, and one copy with the
appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
<PAGE>
<TABLE>
<CAPTION>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
--------------------------------
Washington, D.C. 20549 OMB APPROVAL
--------------------------------
OMB Number: 3235-0360
FORM N-17f-2 Expires
Estimated average burden
Certificate of Accounting of Securities and Similar hours per response...0.05
Investments in the Custody of --------------------------------
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
- ------------------------------------------------------------ -----------------------------------------------------------------------
<S> <C>
2. Investment Company Act File Number: Date Examination completed:
811-8606 September 24, 1999, September 28, 1999, September 30, 1999
- ------------------------------------------------------------ -----------------------------------------------------------------------
2. State identification Number:
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
AL AK AZ AR CA CO
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
CT DE DC FL GA HI
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
ID IL IN IA KS KY
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
LA ME MD MA MI MN
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
MS MO MT NE NV NH
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
NJ NM NY NC ND OH
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
OK OR PA RI SC SD
---------------------- ------------------------ -------------------- -------------------- -------------------- --------------
TN TX UT VT VA WA
---------------------- ------------------------ -------------------- --------------------------------------------------------
WV WI WY Puerto Rico
-----------------------------------------------------------------------------------------------------------------------------
Other (specify):
- ------ -----------------------------------------------------------------------------------------------------------------------------
3. Exact name of investment company as specified in registration statement:
AARP Managed Investment Portfolio Trust, AARP Diversified Growth Portfolio
- ------ -----------------------------------------------------------------------------------------------------------------------------
- ------ -----------------------------------------------------------------------------------------------------------------------------
4. Address of principal executive office (number, street, city, state, zip code):
Two International Place, Boston MA, 02110
- ------ -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
INSTRUCTIONS
This Form must be completed by investment companies that have custody of
securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in compliance
with Rule 17f-2 under the Act and applicable state law, examines
securities and similar investments in the custody of the investment
company.
Accountant
3. Submit this Form to the securities and Exchange Commission and
appropriate state securities administrators when filing the certificate
of accounting required by Rule 17f-2 under the Act and applicable state
law. File the original and one copy with the Securities and Exchange
Commission's principal office in Washington, D.C., one copy with the
regional office for the region in which the investment company's
principal business operations are conducted, and one copy with the
appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
<PAGE>
Management Statement Regarding Compliance With Certain Provisions
of the Investment Company Act of 1940
PricewaterhouseCoopers LLP November 8, 1999
160 Federal Street
Boston, MA 02110
We, as members of management of the AARP Managed Investment Portfolios Trust
(comprised of the Diversified Growth Portfolio and the Diversified Income with
Growth Portfolio, (the "Portfolios")) are responsible for complying with the
requirement of subsections (b) and (c) of Rule 17f-2 of the Investment Company
Act of 1940 (as interpreted in the Response of the Office of the Chief Counsel,
Division of Investment Management, Ref. No. 92-237-CC). We are also responsible
for establishing and maintaining effective internal controls over compliance
with those requirements. We have performed evaluations of the Portfolios'
compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the
Investment Company Act of 1940 (as interpreted in the Response of the Office of
the Chief Counsel, Division of Investment Management, Ref. No. 92-237-CC) as of
September 24, 1999, September 28, 1999 and September 30, 1999 and from the
period September 30, 1998 (date of last examination) through September 24, 1999,
the period from September 25, 1999 through September 28, 1999, and the period
from September 29, 1999 through September 30, 1999.
Based on these evaluations, we assert that the Portfolios were in compliance
with the requirements of subsections (b) and (c) of Rule 17 f-2 of the
Investment Company Act of 1940 (as interpreted in the Response of the Office of
the Chief Counsel, Division of Investment Management, Ref. No. 92-237-CC) as of
September 24, 1999, September 28, 1999 and September 30, 1999 and for the period
from September 30, 1998 (date of last examination) through September 24, 1999,
the period from September 25, 1999 through September 28, 1999, and the period
from September 29, 1999 through September 30, 1999, with respect to securities
reflected in the investment accounts of the Portfolios.
AARP Managed Investment Portfolios Trust
By:
/s/John R. Hebble
- --------------------------------
John R. Hebble
Treasurer
/s/Caroline Pearson
- --------------------------------
Caroline Pearson
Assistant Secretary
<PAGE>
Report of Independent Accountants
To the Board of Trustees of AARP Managed Investment Portfolios Trust:
We have examined management's assertion, included in the accompanying Management
Statement Regarding Compliance With Certain Provisions of the Investment Company
Act of 1940, about AARP Diversified Growth Portfolio's and AARP Diversified
Income with Growth Portfolio's (constituting the AARP Managed Investment
Portfolios Trust, hereafter referred to as the "Portfolios") compliance with the
requirements of subsections (b) and (c) of Rule 17f-2 under the Investment
Company Act of 1940 (as interpreted in the Response of the Office of the Chief
Counsel, Division of Investment Management, Ref. No. 92-237-CC) (the "Act") as
of September 24, 1999, September 28, 1999 and September 30, 1999. Management is
responsible for the Portfolios' compliance with those requirements. Our
responsibility is to express an opinion on management's assertion about the
Portfolios' compliance based on our examinations.
Our examinations were conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about the Portfolios'
compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. Our September 24, 1999 and September
28, 1999 examinations were made without prior notice to the Portfolios. Included
among our procedures were the following tests performed as of September 24,
1999, September 28, 1999 and September 30, 1999, and with respect to agreement
of security purchases and sales, for the period from September 30, 1998 (date of
our last examination) through September 24, 1999, the period from September 25,
1999 through September 28, 1999 and the period from September 29, 1999 through
September 30, 1999:
o Confirmation of the number of shares of beneficial interest of the
underlying funds owned by each Portfolio and held by a securities
depository which uses the book entry method of accounting for
securities (i.e., Scudder Service Corp.).
o Reconciliation of all such shares of beneficial interest to the books
and records of the Portfolios and Scudder Service Corp.
o Agreement of security purchases and sales by the Portfolios of shares
of beneficial interest of the underlying funds since our last report
from the books and records of the Portfolios to confirmations from
Scudder Service Corp.
We believe that our examinations provide a reasonable basis for our opinion. Our
examinations do not provide a legal determination of the Portfolios' compliance
with specified requirements.
<PAGE>
In our opinion, management's assertion that the Portfolios enumerated above were
in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of
the Investment Company Act of 1940 (as interpreted in the Response of the Office
of the Chief Counsel, Division of Investment Management, Ref. No. 92-237-CC) as
of September 24, 1999, September 28, 1999 and September 30, 1999, with respect
to securities reflected in the investment accounts of the Portfolios is fairly
stated, in all material respects.
This report is intended solely for the information and use of the Board of
Trustees, management of AARP Managed Investment Portfolios Trust and the
Securities and Exchange Commission and is not intended to be and should not be
used by anyone other than the specified parties.
/s/PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
November 8, 1999
