As filed with the U.S. Securities and Exchange Commission
on October 27, 1997 Registration Nos.: 333-14919
811-07879
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20546
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 X
Pre-Effective Amendment No. [ ]
Post-Effective Amendment No. [ 1 ]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
X
Amendment No. [ 3 ]
Beacon Global Advisors Trust
(Exact name of Registrant as specified in Charter)
8260 Greensboro Drive, Suite 250, McLean, Virginia 22102-3801
(Address of Principal Executive Offices including zip code)
(703) 883-0865
(Registrant's Telephone Number, including Area Code)
Robert J. Henrich, Managing Director
Beacon Global Advisors, Inc.
8260 Greensboro Drive, Suite 250
McLean, Virginia 22102-3801
(Name and Address of Agent for Service)
COPIES TO:
Arthur J. Brown, Esq. Joseph M. O'Donnell, Esq.
Kirkpatrick & Lockhart LLP FPS Services, Inc.
1800 Massachusetts Avenue, N.W. 3200 Horizon Drive
Washington, DC 20036 P.O. Box 61503
King of Prussia, PA 19406
It is proposed that this filing become effective:
[ X ] On October 28, 1997, pursuant to Paragraph (b) of Rule 485.
Pursuant to Rule 24f-2 under the Investment Company Act of 1940, as
amended, Registrant has previously elected to register an indefinite
number of its shares of beneficial interest. The Registrant will file a
notice under such Rule within ninety days after its fiscal year end.
<PAGE>
BEACON GLOBAL ADVISORS TRUST
CROSS-REFERENCE SHEET
[as required by Rule 481a]
Form N-1A Item Caption in Prospectus
Part A INFORMATION REQUIRED IN A PROSPECTUS
1. Cover Page Cover Page of Prospectus
2. Synopsis Expense Summary
3. Condensed Financial Information *
4. General Description of Registrant Mission Statement;
Introduction;
Investment Objective;
Investment Policies;
Investment Practices and
Risk Factors; Investment
Process; General
Information
5. Management of the Fund Management of the Fund;
Distribution Plan
5A. Management's Discussion of Fund
Performance *
6. Capital Stock and Other Securities General Information;
Dividends and Taxes;
Net Asset Value
7. Purchase of Securities Being Offered How to Purchase Shares
8. Redemption or Repurchase How to Redeem Shares
9. Pending Legal Proceedings *
Part B INFORMATION REQUIRED IN A STATEMENT OF ADDITIONAL
INFORMATION
10. Cover Page Cover Page of the
Statement of Additional
Information
11. Table of Contents Table of Contents
12. General Information and History *
13. Investment Objectives and Policies Investment Policies and
Techniques; Investment
Restrictions; Portfolio
Transactions
14. Management of the Fund Investment Advisory and
Other Services; Trustees
and Officers
15. Control Persons and Principal *
Holders of Securities
16. Investment Advisory and Investment Advisory and
Other Services Other Services
17. Brokerage Allocation and Portfolio Transactions
Other Practices
18. Capital Stock and Other Securities Other Information
19. Purchase, Redemption and Pricing of Purchases; Redemptions
Securities Being Offered
20. Tax Status Taxes
21. Underwriters Distributor
22. Calculation of Performance Data Performance Information
23. Financial Statements Financial Statements
Part C OTHER INFORMATION
Information required to be included in Part C is set forth under the
appropriate Item, so numbered, in Part C of this Registration Statement.
* Item is inapplicable at this time or answer is negative.
<PAGE>
BEACON GLOBAL ADVISORS TRUST
THE CRUELTY FREE VALUE FUND
PART A
The Prospectus for The Cruelty Free Value Fund (the "Fund") dated April
8, 1997, is incorporated herein by reference to the Pre-Effective
Amendment No. 2 to Registration Statement on Form N-1A (File No.
333-14919) filed with the U.S. Securities and Exchange Commission on
April 2, 1997. The Prospectus is supplemented by the Financial
Highlights as of September 30, 1997 filed herein to comply with the
Fund's undertaking to file a post-effective amendment containing
reasonably current financial statements which need not be certified
within four to six months of its effective date or commencement of
operations, whichever is later.
<PAGE>
October 28, 1997
BEACON GLOBAL ADVISORS TRUST
THE CRUELTY FREE VALUE FUND
The following information supplements the information contained in the
Fund's Prospectus dated April 8, 1997.
Financial Highlights
The following are unaudited "Financial Highlights" of The Cruelty Free
Value Fund for the period ended September 30, 1997. The table below
sets forth financial data for one share of capital stock outstanding for
the period presented.
For the Period
April 29, 1997 /*/
through
September 30, 1997
(unaudited)
Net asset value, beginning of period $ 25.00
Income from investment operations:
Net investment loss (0.03)
Net realized and unrealized gain on investments 4.23
Total from investment operations 4.20
Net asset value, end of period $ 29.20
Total return 16.80% /1/
Ratios/Supplemental Data
Net assets, end of period (in 000s) $ 1,058
Ratio of expenses to average net assets:
Before expense reimbursement 39.20% /2/
After expense reimbursement 1.95% /2/
Ratio of net investment loss to average net assets:
Before expense reimbursement (37.59%) /2/
After expense reimbursement (0.34%) /2/
Portfolio turnover rate 13.52% /1/
Average commission rate paid $ 0.0700
/*/ Commencement of investment operations
/1/ Not Annualized
/2/ Annualized
<PAGE>
BEACON GLOBAL ADVISORS TRUST
THE CRUELTY FREE VALUE FUND
PART B
The Statement of Additional Information for The Cruelty Free Value Fund
(the "Fund") dated April 8, 1997, is incorporated herein by reference to
the Pre-Effective Amendment No. 2 to Registration Statement on Form N-1A
(File No. 333-14919) filed with the U.S. Securities and Exchange
Commission on April 2, 1997. The Statement of Additional Information is
supplemented by the financial statements as of September 30, 1997 filed
herein to comply with the Fund's undertaking to file a post-effective
amendment containing reasonably current financial statements which need
not be certified within four to six months of its effective date or
commencement of operations, whichever is later.
<PAGE>
October 28, 1997
BEACON GLOBAL ADVISORS TRUST
THE CRUELTY FREE VALUE FUND
The following information supplements the information contained in the
Fund's Statement of Additional Information dated April 8, 1997.
Financial Statements
Unaudited financial statements for the period April 29, 1997,
commencement of operations, through September 30, 1997, for The Cruelty
Free Value Fund are attached hereto.
<PAGE>
The Cruelty Free Value Fund
Schedule of Investments (unaudited) September 30, 1997
Market
Shares Value
COMMON STOCKS - 78.63%
BASIC MATERIALS & PROCESSING - 11.49%
300 AK Steel Holding Corp. $ 12,787
700 AMCOL International Corp. 14,525
400 Ball Corp. 13,925
700 Intermet Corp. 12,250
600 Quanex Corp. 21,038
1,200 RMI Titanium Co. /*/ 30,000
800 Webb (Del E.) Corp. 17,100
121,625
CONSUMER DISCRETIONARY - 9.80%
700 Fedders Corp. 4,200
1,000 Finish Line, Inc. (The), Class A /*/ 18,938
700 Haggar Corp. 10,412
300 Harman International Industries, Inc. 15,019
700 Heilig-Meyers Co. 10,762
1,200 Insurance Auto Auctions, Inc. /*/ 15,000
700 Reynolds & Reynolds Co., Class A 13,606
300 Springs Industries, Inc., Class A 15,750
103,687
FINANCIAL SERVICES - 22.01%
700 Compass Bancshares, Inc. 27,213
1,400 Doral Financial Corp. 34,825
700 First Financial Corp., Wisconsin 23,844
1,200 Imperial Credit Industries, Inc. /*/ 31,800
700 Integon Corp. 18,200
700 Lawyers Title Corp. 21,525
600 Long Island Bancorp, Inc. 28,200
199 Mercantile Bancorp., Inc. 15,149
700 Southern Pacific Funding Corp. /*/ 9,844
700 TR Financial Corp. 22,313
232,913
HEALTHCARE - 1.02%
800 Apria Healthcare Group, Inc. /*/ 10,800
OTHER - 1.37%
700 Global Industrial Technologies, Inc. /*/ 14,525
PRODUCER DURABLES - 9.83%
700 Electroglas, Inc. /*/ 23,800
700 Flowserve Corp. 20,912
1,400 Pacific Scientific Co. 23,100
700 Stewart & Stevenson Services, Inc. 16,844
700 Watts Industries, Inc., Class A 19,425
104,081
TECHNOLOGY - 10.53%
700 Diamond Multimedia Systems, Inc. /*/ 8,575
700 Exar Corp. /*/ 18,550
600 Komag, Inc. /*/ 12,225
700 Read-Rite Corp. /*/ 17,150
1,400 Scientific-Atlanta, Inc. 31,675
700 Tech-Sym Corp. /*/ 23,275
111,450
TRANSPORTATION - 11.75%
600 Airborne Freight Corp. 36,337
500 Borg-Warner Automotive, Inc. 28,437
700 Fleetwood Enterprises, Inc. 23,494
770 Myers Industries, Inc. 12,705
700 Simpson Industries, Inc. 8,094
700 Walbro Corp. 15,313
124,380
UTILITIES - 0.83%
700 Jones Intercable Inc., Class A /*/ 8,837
Total Common Stocks (Cost $705,120) 832,298
Principal
Amount SHORT-TERM INVESTMENTS - 9.21%
$97,445 The Bank of New York Cash Reserve
Fund, 4.60% 97,445
Total Short Term Investments
(Cost $97,445) 97,445
Total Investments (Cost $802,565 /**/)
- 87.84% 929,743
Other Assets, Less Other Liabilities
- 12.16% 128,680
NET ASSETS - 100.00% 1,058,423
/*/ Non-income producing security
/**/ Cost for Federal income tax purposes is $802,565 and net
unrealized appreciation consists of:
Gross unrealized appreciation $ 143,375
Gross unrealized depreciation (16,197)
Net unrealized appreciation 127,178
See accompanying notes to financial statements.
<PAGE>
The Cruelty Free Value Fund
Statement of Assets and Liabilities (unaudited) September 30, 1997
ASSETS:
Investments at market value (Cost $802,565) (Note 1) $ 929,743
Receivables:
Capital stock sold 7,250
Due from Advisor 72,557
Dividends and interest receivable 912
Deferred unamortized organization costs (Note 1) 65,472
Other assets 5,701
TOTAL ASSETS 1,081,635
LIABILITIES:
Payales:
Accrued expenses 23,011
Accrued distribution fee (Note 3) 201
TOTAL LIABILITIES 23,212
NET ASSETS:
Applicable to 36,246 shares; unlimited number
of shares of beneficial interest authorized
with no par value $ 1,058,423
Net asset value, offering and redemption price
($1,058,423 / 36,246 shares) $ 29.20
NET ASSETS CONSIST OF:
Paid-in capital $ 928,535
Accumulated net realized gain on investments 2,710
Net unrealized appreciation on investments 127,178
NET ASSETS $ 1,058,423
See accompanying notes to financial statements.
<PAGE>
The Cruelty Free Value Fund
Statement of Operations
For the Period
April 29, 1997 /*/
through
September 30, 1997
INVESTMENT INCOME (unaudited)
Dividends $ 2,394
Interest 2,036
TOTAL INCOME 4,430
EXPENSES:
Investment advisory fees (Note 3) 3,447
Administration fees 23,205
Registration fees 21,362
Transfer agent fees 13,906
Accounting fees 10,126
Legal fees 8,480
Audit fees 7,066
Amortization of organization costs (Note 1) 7,028
Trustees fees 4,240
Custody fees 3,357
Printing fees 3,209
Miscellaneous fees 1,470
Distribution fees (Note 3) 689
Insurance fees 526
TOTAL EXPENSES 108,111
Expenses waived and reimbursed by Advisor
(Note 3) (102,733)
NET EXPENSES 5,378
NET INVESTMENT LOSS (948)
REALIZED AND UNREALIZED GAIN ON INVESTMENTS:
Net realized gain on investments 2,710
Net change in unrealized appreciation
on investments 127,178
NET REALIZED AND UNREALIZED GAIN
ON INVESTMENTS 129,888
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS $ 128,940
/*/ Commencement of investment operations.
<PAGE>
The Cruelty Free Value Fund
Statement of Changes in Net Assets
For the Period
April 29, 1997 /*/
through
September 30, 1997
OPERATIONS: (unaudited)
Net investment loss $ (948)
Net realized gain on investments 2,710
Net change in unrealized appreciation 127,178
Net increase in net assets resulting
from operations 128,940
CAPITAL SHARE TRANSACTIONS:
Proceeds from shares sold 830,227
Cost of shares redeemed (744)
Increase in net assets derived from capital
share transactions (a) 829,483
TOTAL INCREASE IN NET ASSETS 958,423
NET ASSETS:
Beginning of period 100,000
End of period $ 1,058,423
(a) Transactions in capital stock were:
Shares sold 32,272
Shares redeemed (26)
Increase in shares outstanding 32,246
/*/ Commencement of investment operations.
<PAGE>
The Cruelty Free Value Fund
Financial Highlights
The table below sets forth financial data for one share of capital stock
outstanding throughout the period presented.
For the Period
April 29, 1997 /*/
through
September 30, 1997
(unaudited)
Net asset value, beginning of period $ 25.00
Income from investment operations:
Net investment loss (0.03)
Net realized and unrealized gain on investments 4.23
Total from investment operations 4.20
Net asset value, end of period $ 29.20
Total return 16.80% /1/
Ratios/Supplemental Data
Net assets, end of period (in 000s) $ 1,058
Ratio of expenses to average net assets:
Before expense reimbursement 39.20% /2/
After expense reimbursement 1.95% /2/
Ratio of net investment loss to average net assets:
Before expense reimbursement (37.59%) /2/
After expense reimbursement (0.34%) /2/
Portfolio turnover rate 13.52% /1/
Average commission rate paid $ 0.0700
/*/ Commencement of investment operations
/1/ Not Annualized
/2/ Annualized
<PAGE>
The Cruelty Free Value Fund
Notes to Financial Statements September 30, 1997 (unaudited)
Note 1 - Significant Accounting Policies
Beacon Global Advisors Trust (the "Trust") is organized as a Delaware
business trust pursuant to a Trust Agreement dated August 29, 1996. The
Trust is registered under the Investment Company Act of 1940, as
amended, as an open-end, diversified management investment
company. The Trust is organized to offer separate series of shares and
is currently offering a single series of shares called The Cruelty Free
Value Fund (the "Fund"). The following is a summary of significant
accounting policies consistently followed by the Fund in the preparation
of its financial statements. The policies are in conformity with
generally accepted accounting principles for investment companies.
A. Security Valuation. Investments in securities traded on a national
securities exchange are valued at the last reported sales price.
Unlisted securities, listed securities in which there were no sales, or
securities traded over-the-counter, are valued at the mean of the
closing bid and ask prices. When market quotations are not readily
available, securities and other assets are valued at fair value as
determined in good faith by the Board of Trustees. Short-term
obligations having a maturity of 60 days or less are valued at amortized
cost, which the Board of Trustees believes represents fair value.
B. Investment Income and Securities Transactions. Security
transactions are accounted for on the date the securities are purchased
or sold (trade date). Cost is determined and gains and losses are based
on the identified cost basis for both financial statement and federal
income tax purposes. Dividend income is reported on the ex-dividend
date. Interest income and expenses are accrued daily.
C. Organization Costs. Organization costs are being amortized on a
straight line basis over five years from commencement of operations.
D. Federal Income Taxes. It is the policy of the Fund to comply with
all requirements of the Internal Revenue Code applicable to regulated
investment companies and to distribute substantially all of its taxable
income to its shareholders. Therefore, no Federal income tax
provision is required.
E. Distributions to Shareholders: The Fund intends to distribute
substantially all of its net investment income and capital gains, if
any, annually. Distributions to shareholders are recorded on the
ex-dividend date. Income and capital gain distributions are determined
in accordance with income tax regulations which may differ from
generally accepted accounting principles.
F. Use of Estimates. In preparing financial statements in conformity
with generally accepted accounting principles, management makes
estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements, as well as the
reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
<PAGE>
The Cruelty Free Value Fund
Notes to Financial Statements - continued
September 30, 1997 (unaudited)
Note 2 - Purchases and Sales of Securities
Purchses and sales of securities, other than short term investments,
totalled $766,390 and$58,972, respectively, for the period ended
September 30, 1997.
Note 3 - Investment Management Fee and Other Transactions with
Affiliates Beacon Global Advisors, Inc. (the "Advisor"), a registered
investment advisor, provides the Fund with investment management
services. For providing investment advisory services, the
Fund pays the Advisor a monthly fee which is calculated by applying the
following annual rates: 1.25% of the average daily net assets of the
first $100 million, 1.00% of the average daily net assets from $100
million to $500 million, and 0.75% of average daily net assets over $500
million. The Advisor has voluntarily agreed to waive its fees for the
first year of operations to the extent total annualized expenses exceed
1.95% of the Fund's average daily net assets. For the period ended
September 30, 1997, advisory fees of $3,447 were paid to the Advisor
and the Advisor reimbursed the Fund $102,733.
The Advisor has entered into a subadvisory agreement with Zurich
Investment Management, Inc. ("ZIM") and ZIM has entered into a
subadvisory agreement with Dreman Value Advisors, Inc. ("Dreman" or the
"Subadvisor") to assist in the selection and management of the Fund's
investment securities. For its services, ZIM receives from the Advisor
and pays to Dreman, an annual fee equal to 0.50% of the first $50
million of the Fund's average daily net assets, 0.35% of the Fund's
average daily net assets from $50 million to $100 million, and 0.25% of
the Fund's average daily net assets in excess of $100 million.
The Fund has adopted a Distribution Plan (the "Plan"), pursuant to Rule
12b-1 under the Investment Company Act of 1940, as amended, which
permits the Fund to pay certain expenses associated with the
distribution of its shares. The Plan provides that the Fund will
reimburse Beacon Global Advisors, Inc. (the "Distributor"), the Fund's
sole underwriter and distributor, for actual distribution and
shareholder servicing expenses incurred by the Distributor not
exceeding, on an annual basis, 0.25% of the Fund's average daily net
assets. For the period ended September 30, 1997, the Fund reimbursed
the Distributor $689 for distribution costs incurred. Certain Officers
and Trustees of the Fund are affiliated persons of the Advisor. All
Officers serve without direct compensation from the Fund.
<PAGE>
PART C - OTHER INFORMATION
Item 24. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements
Included in Part A:
Unaudited Financial Highlights for The Cruelty Value Fund for
the period ended September 30, 1997 are included in the
Supplement to the Prospectus filed herewith.
Included in Part B:
(1) Independent Auditors Report relating to Statement of Assets
and Liabilities at March 26, 1997.
(2) Statement of Assets and Liabilities and related notes as of
March 26, 1997.
(3) The Cruelty Free Value Fund
Unaudited Portfolio of Investments at September 30, 1997,
Statement of Assets and Liabilities at September 30, 1997,
Statements of Operations for the period ended September 30,
1997, Statement of Changes in Net Assets for the period ended
September 30, 1997, Statement of Changes in Net Assets for the
period ended September 30, 1997, Financial Highlights for the
period ended September 30, 1997, and Notes to Financial
Statements for the period ended September 30, 1997 -- Filed
herewith. This Post-Effective Amendment No. 1 is filed to
comply with The Cruelty Free Value Fund's undertaking to file
a Post-Effective Amendment containing reasonably current
financial statements, which need not be certified, within four
to six months of its effective date or commencement of
operations, whichever is later.
(b) Exhibits:
Exhibits filed pursuant to Form N-1A:
(1) Trust Instrument is incorporated by reference to Exhibit No.
(1) of Registration Statement No. 333-14919 filed on October
28, 1996.
(2) By-Laws are incorporated by reference to Exhibit No. (2) of
Registration Statement No. 333-14919 filed on October 28,
1996.
(3) Voting Trust Agreement -- None
(4) All Instruments Defining the Rights of Holders -- None
(5) Investment Advisory Contracts -- Investment Advisory
Contract is incorporated by reference to Exhibit No. (5) of
Pre-Effective Amendment No. 1 to the Registration
Statement No. 333-14919 filed on February 12, 1997.
(a) Sub-Advisory Agreement between Zurich Investment
Management, Inc. and Dreman Value Advisors, Inc. is
incorporated by reference to Exhibit (5) of Pre-Effective
No. 2 to the Registration Statement No. 333-14919
filed on April 2, 1997.
(b) Sub-Advisory Agreement between Zurich Investment
Management, Inc.and Beacon Global Advisors, Inc.
is incorporated by reference to Exhibit (5) of
Pre-Effective No. 2 to the Registration
Statement No. 333-14919 filed on April 2, 1997.
(6) Underwriting Agreement -- Underwriting Agreement is
incorporated by reference to Exhibit No. (6) of
Pre-Effective Amendment No. 1 to the Registration Statement
No.333-14919 filed on February 12, 1997.
(7) Bonus, Profit Sharing, Pension or Other Similar Contracts--None
(8) Custodian Agreements -- Custody Agreement is incorporated by
reference to Exhibit No. (8) of Pre-Effective Amendment No. 1
to the Registration Statement No. 333-14919 filed on February
12, 1997.
(9) Multiple Services Agreement -- Multiple Services Agreement is
incorporated by reference to Exhibit No. (9) of Pre-Effective
Amendment No. 1 to the Registration Statement No. 333-14919
filed on February 12, 1997.
(10) (a) Opinion and Consent of Kirkpatrick & Lockhart LLP regarding
the legality of the securities being issued -- is
incorporated by reference to Exhibit (10)(a) of
Pre-Effective No. 2 to the Registration Statement No.
333-14919 filed on April 2, 1997.
(11) Consent of Independent Auditors -- N/A.
(12) Financial Statements Omitted from Item 23 -- None
(13) Agreements or Understandings Made in Consideration for
Providing the Initial Capital -- None
(14) Model Plan -- None
(15) Plan of Distribution pursuant to Rule 12b-1 -- Distribution
and Services Plan pursuant to Rule 12b-1 is incorporated by
reference to Exhibit No. (15) of Pre-Effective Amendment No. 1
to Registration Statement No. 333-14919 filed on February
12, 1997.
(16) Schedule for Computation of Performance Quotations -- None.
(17) Financial Data Schedule -- filed herewith.
(18) Plan of Distribution pursuant to Rule 18f-3 with respect to
Multiple Class Shares -- None.
(19) Trustees' Powers of Attorney -- Powers of Attorney
for Messrs. Donatelli, Henrich, Koltnow and Ollen are
incorporated by reference to Exhibit No. (19) of Pre-Effective
Amendment No. 1 to Registration Statement No. 333-14919 filed
on February 12, 1997.
(a) Power of Attorney for Caroline D. Gabel is incorporated by
reference to Exhibit (19)(A) of Pre-Effective No. 2 to
the Registration Statement No. 333-14919 filed on
April 2, 1997.
Item 25. Persons Controlled By or Under Common Control with Registrant.
Not Applicable.
Item 26. Number of holders of securities.
Title of Class
Common Stock Number of Record Holders
(Par Value $.001) As of September 30, 1997
The Cruelty Free Value Fund 90
Item 27. Indemnification.
Reference is made to Article X of the Registrant's
Trust Instrument (previously filed herewith as Exhibit 1
of Registration Statement No. 333-14919 filed on October 28,
1996.)
The Trust Instrument limits the liabilities of a Trustee to
that of gross negligence and in the event a Trustee
is sued for his or her activities concerning the Trust, the
Trust willindemnify that Trustee to the fullest extent
permitted by law, except if a Trustee engages in willful
misfeasance, bad faith, gross negligence or reckless disregard
of the duties involved in the conduct of his or her office.
Item 28(a) Business and Other Connections of Investment Adviser.
Beacon Global Advisors, Inc., 8260 Greensboro Drive,
Suite 250, McLean, Virginia 22102-380 provides investment
advisory services to individual and institutional investors, and
as of September 30, 1997 had approximately $70 million in
assets under management.
For information as to any other business, vocation or employment
of a substantial nature in which each Trustee or officer of the
Registrant's investment adviser is or has been engaged for his
own account or in the capacity of Trustee, officer, employee,
partner or trustee, reference is made to Form ADV for Beacon
Global Advisors, Inc.(File #801-48567) filed under the
Investment Advisers Act of 1940 which is incorporated herein by
reference.
Item 28(b) Business and Other Connections of Officers and Directors of
Dreman Value Advisors, Inc., the investment Subadvisor.
DREMAN, DAVID N.
Director, Chairman of the Board, Dreman Value Advisors, Inc.
NEAL, JOHN E.
Director, Zurich Kemper Investments, Inc.
President, Kemper Funds Group, a unit of Zurich Kemper Investments, Inc.
Director, President, Kemper Service Company
Director, Kemper Distributors, Inc.
Director, Zurich Investment Management, Inc.
Director, Dreman Value Advisors, Inc.
Director, Community Investment Corporation
Director, Continental Community Development Corporation
Director, K-P Green way, Inc.
Director, K-P Plaza Dallas, Inc.
Director, Kemper/Prime Acquisition Fund, Inc.
Director, RespiteCare
Director, Urban Shopping Centers, Inc.
Vice President, Kemper Funds
TIMBERS, STEPHEN B.
Director, Dreman Value Advisors, Inc.
Director, President, Chief Executive Officer and Chief Investment
Officer, Kemper Financial Services, Inc.
Director, Kemper Distributors, Inc.
Director, Chairman, Zurich Investment Management, Inc.
Director, Chairman, Kemper Service Company
Director, President, Kemper International Management, Inc.
Trustee and President, Kemper Funds
Director, The LTV Corporation
Director, Investment Analysts Society of Chicago
Governor, Investment Company Institute
Director, ZKI Agency, Inc.
NEEL, JAMES R.
Director, President and Chief Executive Officer, Dreman Value Advisors, Inc.
Vice President, Kemper-Dreman Fund, Inc.
BERTELSEN, CHRISTIAN C.
Senior Managing Director and Chief Investment Officer, Dreman Value
Advisors, Inc.
Vice President, Kemper-Dreman Fund, Inc.
DUDASIK, PATRICK H.
Executive Vice President, Chief Financial Officer and Treasurer, Dreman
Value Advisors, Inc.
Senior Vice President, Kemper Financial Services, Inc.
Vice President and Treasurer, Zurich Investment Management, Inc.
Treasurer and Chief Financial Officer, Kemper Distributors, Inc.
Treasurer and Chief Financial Officer, Kemper Service Company
Director and Treasurer, Kemper Investment Management Company Limited
Treasurer, ZKI Agency, Inc.
COUGHLIN, WILLIAM F.
Managing Director, Dreman Value Advisors, Inc.
MASTAIN, JR., RICHARD K.
Managing Director, Dreman Value Advisors, Inc.
SASSI, THOMAS
Managing Director, Dreman Value Advisors, Inc.
SHIPMAN, STEPHEN E.
Managing Director, Dreman Value Advisors, Inc.
STOKES, STEVEN T.
Managing Director, Dreman Value Advisors, Inc.
Vice President, Kemper-Dreman Fund, Inc.
EPSTEIN, HARRY
Vice President, Operations, Dreman Value Advisors, Inc.
KAY, JONATHAN S.
Vice President, Dreman Value Advisors, Inc.
McRAE, SUSAN A.
Vice President, Dreman Value Advisors, Inc.
MORRISSEY, JOSYANE
Vice President, Dreman Value Advisors, Inc.
RIDER, JOSEPH K.
Vice President, Dreman Value Advisors, Inc.
COLLORA, PHILIP J.
Assistant Secretary, Dreman Value Advisors, Inc.
Senior Vice President and Assistant Secretary, Zurich Kemper
Investments, Inc.
Vice President and Secretary, Kemper Funds
Assistant Secretary, Kemper International Management, Inc.
Assistant Secretary, Zurich Investment Management, Inc.
Item 29. Principal Underwriter.
(a) Beacon Global Advisors, Inc., the principal underwriter
for the Registrant's securities, does not act as
underwriter for any other entities.
(b) The table below sets forth certain information as to
the Underwriter's Directors, Officers and Control Persons:
Position Position and
Name and Principal and Offices Offices with
Business Address with Underwriter Registrant
Robert J. Henrich Managing Director Executive President
Beacon Global Advisors, Inc. Vice President,
8260 Greensboro Drive Treasurer and
Suite 250 Trustee
McLean, VA 22102-3801
John Groth Managing Director None
Same as Above
Richard A. Ollen Director President and
Same as Above Chairman of the
Board
(c) Not Applicable.
Item 30. Location of Accounts and Records.
All records described in Section 31(a) of the 1940 Act and
the Rules 17 CFR 270.31a-1 to 31a-3 promulgated thereunder,
are maintained by the Trust's Investment Adviser, Beacon
Global Advisors, Inc., 8260 Greensboro Drive, Suite 250,
McLean, Virginia 22102, except for those maintained by the
Fund's Custodian, The Bank of New York, 48 Wall Street, New
York, New York 10172 and the Trust's Administrator, Transfer
Agent and Fund Accounting Services Agent, FPS Services Inc.,
3200 Horizon Drive, P.O. Box 61503, King of Prussia, PA
19406-0903.
Item 31. Management Services.
There are no management-related service contracts not
discussed in Part A or Part B.
Item 32. Undertakings.
Not applicable.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940 the Registrant has duly caused this
Post-Effective Amendment No. 1 to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of McLean, and State
of Virginia on the 27th day of October, 1997.
Beacon Global Advisors Trust
Registrant
By: /s/ Richard A. Ollen
Richard A. Ollen
President
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment of Beacon Global Advisors Trust has been
signed below by the following persons in the capacities and on the date
indicated.
Signature Capacity Date
/s/ Richard A. Ollen /*/ President 10/27/97
Richard A. Ollen and Chairman
of the Board
/s/ Robert J. Henrich /*/ Executive Vice President, 10/27/97
Robert J. Henrich Treasurer & Trustee
/s/ Louis T. Donatelli /*/ Trustee 10/27/97
Louis T. Donatelli
/s/ Caroline D. Gabel /*/ Trustee 10/27/97
Caroline D. Gabel
/s/ Peter G. Koltnow /*/ Trustee 10/27/97
Peter G. Koltnow
* /s/ Joseph M. O'Donnell
Joseph M. O'Donnell
as Attorney-in-fact and Agent
pursuant to Power-of-Attorney
<PAGE>
BEACON GLOBAL ADVISORS TRUST
Index to Exhibits to Form N-1A
Exhibit
(17) Financial Data Schedule for The Cruelty Free Value Fund
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001030881
<NAME> BEACON GLOBAL ADVISORS TRUST
<SERIES>
<NUMBER> 1
<NAME> THE CRUELTY FREE VALUE FUND
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> APR-29-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 802,565
<INVESTMENTS-AT-VALUE> 929,743
<RECEIVABLES> 80,719
<ASSETS-OTHER> 5,701
<OTHER-ITEMS-ASSETS> 65,472
<TOTAL-ASSETS> 1,081,635
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,212
<TOTAL-LIABILITIES> 23,212
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 928,535
<SHARES-COMMON-STOCK> 36,246
<SHARES-COMMON-PRIOR> 4,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,710
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 127,178
<NET-ASSETS> 1,058,423
<DIVIDEND-INCOME> 2,394
<INTEREST-INCOME> 2,036
<OTHER-INCOME> 0
<EXPENSES-NET> 5,378
<NET-INVESTMENT-INCOME> (948)
<REALIZED-GAINS-CURRENT> 2,710
<APPREC-INCREASE-CURRENT> 127,178
<NET-CHANGE-FROM-OPS> 128,940
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32,272
<NUMBER-OF-SHARES-REDEEMED> (26)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 958,423
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,447
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 108,111
<AVERAGE-NET-ASSETS> 653,669
<PER-SHARE-NAV-BEGIN> 25.00
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 4.23
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 29.20
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
