UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(MARK ONE)
/ X / QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended July 31, 2000
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________________ to ____________________
Commission file number 2-58109
THE COLLECTIVE INVESTMENT TRUST
or which UMB Bank, n.a. is Trustee
(Exact name of registrant as specified in its charter)
Not Applicable, Not Applicable
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
1010 Grand Avenue, Kansas City, Missouri 64106
(Address of principal executive offices and Zip Code)
(816) 860-7000
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes / X / No / /
The number of units of participation outstanding as of July 31, 2000.
Pooled Equity Fund - 10,469,633
Pooled Debt Fund - 9,337,219
Pooled Income Fund - 3,742,100
<PAGE>
PART I -- FINANCIAL INFORMATION
-----------------------------------
Item 1. Financial Statements.
INTRODUCTORY COMMENTS
The Condensed Financial Statements included herein have been prepared by the
Trustee, without audit, pursuant to the rules and regulations of the Securities
and Exchange Commission. Certain information and footnote disclosures normally
included in financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted pursuant to such rules and
regulations, although the Trustee believes that the disclosures are adequate to
enable a reasonable understanding of the information presented. The results of
operations for the period are not necessarily indicative of the results to be
expected for the full year. These Condensed Financial Statements should be read
in conjunction with the financial statements and the notes thereto included in
the Collective Investment Trusts' Annual Report on Form 10-K for the year ended
October 31, 1999.
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Equity Fund for Employees Trusts
Statements of Operations
QUARTER QUARTER FY ENDED 9 Months 9 Months
ENDING 07/31/99 ENDING 07/31/00 10/31/1999 Ended 7-31-00 Ended 7-31-99
---------- ------------ ------------ ------------ ------------
Investment Income:
<S> <C> <C> <C> <C> <C>
Dividends $ 800,755 $ 457,624 $ 3,123,083 $1,567,535 $2,399,139
Interest 516,674 300,128 2,255,589 1,300,044 1,837,381
-------------- -------------- -------------- ------------ ------------
Gross Investment Income 1,317,429 757,752 5,378,672 2,867,579 4,236,520
Less: Audit Expense (2,361) (2,336) (9,424) (11,257) (7,640)
-------------- ------------- -------------- ------------ ------------
Net Investment Income $ 1,315,068 $ 755,416 $ 5,369,248 2,856,322 4,228,880
============== ============= ============== ============== ============
Realized and Unrealized Gain(Loss) on Investments:
Realized Gain(Loss) on Investments:
Proceeds from Sales $ 142,737,353 $ 85,146,358 $ 723,610,458 309,595,204 548,398,429
Cost of Securities Sold 140,685,894 87,322,394 708,210,090 311,922,648 533,720,133
-------------- ------------- -------------- ------------ ------------
Net Realized Gain(Loss) 2,051,459 (2,176,036) 15,400,368 (2,327,444) 14,678,296
Unrealized Gain(Loss) on Investments:
Beginning of Period 22,889,344 12,671,647 11,650,629 13,443,563 11,650,626
End of Period 24,019,648 12,378,336 13,443,563 12,378,336 24,019,648
-------------- ------------ -------------- ------------ ------------
Net Unrealized Gain(Loss) 1,130,304 (293,311) 1,792,934 (1,065,227) 12,369,022
-------------- ------------ -------------- ------------ ------------
Net Realized and Unrealized
Gain(Loss) on Investment $ 3,181,763 $ (2,469,347) $ 17,193,302 (3,392,671) 27,047,318
============= ============= ============== ============== ============
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Equity Fund for Employees Trusts
Statements of Participants' Interest
QUARTER QUARTER FY ENDED 9 MONTHS 9 MONTHS
ENDING 07/31/99 ENDING 07/31/00 10/31/1999 ENDED 07/31/00 ENDED 07/31/99
---------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Participants' Interest at Beginning of Period $ 199,610,874 $ 130,183,278 $ 186,528,690 $ 147,424,965 $ 186,528,690
Changes from Investment Activities:
Net Investment Income 1,315,068 755,416 5,369,248 2,856,322 4,228,880
Net Realized Gain(Loss) on Investments 2,051,459 (2,176,036) 15,400,368 (2,327,444) 14,678,296
Net Unrealized Gain(Loss) on Investments 1,130,304 (293,311) 1,792,934 (1,065,227) 12,369,022
-------------- ------------- -------------- -------------- --------------
Net Increase(Decrease) from Investment Activity 4,496,831 (1,713,931) 22,562,550 (536,349) 31,276,198
-------------- ------------- -------------- -------------- --------------
Changes from Participating Unit Transactions:
Received from Issuance of: 32,978 Units 3,737,271 19,759,460
Received from Issuance of: 986,480 Units 10,578,614 19,523,107 10,732,059
Payment on Redemption of: 206,065 Units (23,278,172) (81,425,735)
Payment on Redemption of: 2,586,644 Units (27,760,295) (55,124,057) (43,970,143)
-------------- ------------- -------------- -------------- --------------
Net Increase(Decrease) from Participating
Unit Transactions (19,540,901) (17,181,681) (61,666,275) (35,600,950) (33,238,084)
------------- ------------- -------------- -------------- --------------
Participants' Interest at End of Period $ 184,566,804 $ 111,287,666 $ 147,424,965 $ 111,287,666 $ 184,566,804
============== ============= ============== ============== ==============
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Equity Fund for Employees Trusts
Statements of Assets and Liabilities
10/31/99 07/31/00
COST MARKET COST MARKET
------------------- ------------------------
Assets:
<S> <C> <C> <C> <C>
Common Stock $ 95,854,601 $ 109,298,164 $ 88,358,733 $ 100,737,069
Commercial Paper 24,203,751 24,203,751 9,005,477 9,005,477
Other Investments 4,003,642 4,003,642 1,509,933 1,509,933
------------ ------------- ------------ ------------
Total Investments $ 124,061,994 $ 137,505,557 $ 98,874,143 $ 111,252,479
============= ============
Cash 0 (78,380)
Interest Receivable 207,862 128,026
Receivable for Securities Sold 9,718,972 0
------------- --------------
Total Assets $ 147,432,391 $ 111,302,125
============= ==============
Liabilities:
Audit Fees Payable $ 7,426 $ 14,459
Payable for Securities Sold 0 0
------------- --------------
Total Liabilities 7,426 14,459
------------- --------------
Participants' Interest:
106.86 Per Unit on 1,379,603 Units Outstanding 147,424,965
10.63 Per Unit on 10,469,633 Units Outstanding 111,287,666
------------- --------------
Total Liabilities and Participants' Equity $ 147,432,391 $ 111,302,125
============= ==============
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Debt Fund for Employees Trusts
Statements of Operations
QUARTER QUARTER FY ENDED 9 Months 9 Months
ENDING 07/31/99 ENDING 07/31/00 10/31/1999 Ended 7-31-00 Ended 7-31-99
---------- ------------ ------------ ------------ ------------
Investment Income:
<S> <C> <C> <C> <C> <C>
Interest $ 1,666,922 $ 1,184,826 $ 6,769,984 4,307,989 5,257,893
------------ ------------ ---------- ---------- ----------
Gross Investment Income 1,666,922 1,184,826 6,769,984 4,307,989 5,257,893
Less: Audit Expense (2,361) (2,335) (10,120) (8,007) (4,509)
------------ ------------ ---------- ---------- ----------
Net Investment Income $ 1,664,561 $ 1,182,491 $ 6,759,864 4,299,982 5,253,384
============ ============ ========== ========== ==========
Realized and Unrealized Gain(Loss) on Investments:
Realized Gain(Loss) on Investments:
Proceeds from Sales $23,512,136 $11,885,047 $97,742,670 57,517,799 65,553,611
Cost of Securities Sold 23,467,613 11,879,963 97,504,119 58,245,478 65,355,954
------------ ------------ ----------- ---------- ----------
Net Realized Gain(Loss) 44,523 5,084 238,551 727,679 197,657
Unrealized Gain(Loss) on Investments:
Beginning of Period 2,870,168 (1,528,710) 6,560,164 (92,054) 6,560,163
End of Period 401,983 (961,829) (92,054) (961,829) 401,982
----------- ------------ ----------- ---------- ----------
Net Unrealized Gain(Loss) (2,468,185) 566,881 (6,652,218) (869,775) (6,158,181)
-----------------------------------------
------------ ------------ ----------- ---------- ----------
Net Realized and Unrealized
Gain(Loss) on Investments $(2,423,662) $ 571,965 $(6,413,667) (142,096) (5,960,524)
============ =========== =========== ========== ==========
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Debt Fund for Employees Trusts
Statements of Participants' Interest
QUARTER QUARTER FY ENDED 9 MONTHS 9 MONTHS
ENDING 07/31/99 ENDING 07/31/00 10/31/1999 ENDED 07/31/00 ENDED 07/31/99
---------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Participants' Interest at Beginning of Period $ 112,116,628 $ 876,622,374 $ 116,459,883 $ 92,660,744 $ 116,459,881
Changes from Investment Activities:
Net Investment Income 1,664,561 1,182,491 6,759,864 4,299,982 5,253,384
Net Realized Gain(Loss) on Investments 44,523 5,084 238,551 (727,679) 197,657
Net Unrealized Gain(Loss) on Investments (2,468,185) 566,881 (6,652,218) (869,775) (6,158,181)
-------------- -------------- -------------- ------------- --------------
Net Increase(Decrease) from
Investment Activity (759,101) 1,754,456 346,197 2,702,528 (707,140)
-------------- -------------- -------------- ------------- --------------
Changes from Participating Unit Transactions:
Received from Issuance of: 56,553 Units 4,105,574 17,179,881 15,535,633
Received from Issuance of:1,285,587 Units 9,619,880 11,732,561
Payment on Redemption of: 155,160 Units (11,301,666) (41,325,217) (27,126,939)
Payment on Redemption of: 2,248,757 Units (16,844,254) (35,943,377)
-------------- -------------- -------------- ------------- --------------
Net Increase(Decrease) from Participating
Unit Transactions (7,196,092) (7,224,374) (24,145,336) (24,210,816) (11,591,306)
-------------- -------------- -------------- ------------- --------------
Participants' Interest at End of Period $ 104,161,435 $ 71,152,456 $ 92,660,744 $ 71,152,456 $ 104,161,435
============== ============== ============== ============= ==============
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Debt Fund for Employees Trusts
Statements of Assets and Liabilities
10/31/99 07/31/00
COST MARKET COST MARKET
------------------- ------------------------
Assets:
<S> <C> <C> <C> <C>
U.S. Government & Agency Obligations $ 36,219,926 $ 36,245,019 $ 35,712,958 $ 36,439,280
Corporate Bonds 54,814,080 54,696,933 34,009,179 33,182,337
Other Investments 140,600 140,600 157,469 157,469
----------- ------------ ------------ ------------
Total Investments $91,174,606 $ 91,082,552 $ 69,879,606 $ 69,779,086
=========== ============
Cash 0 0
Interest Receivable 1,586,313 1.385,274
Receivable for Securities Sold 0 0
------------ ------------
Total Assets $ 92,668,865 $ 71,164,360
============ ============
Liabilities:
Audit Fees Payable $ 8,121 $ 11,904
Payable for Securities Sold 0 0
------------ ------------
Total Liabilities 8,121 11,904
------------ ------------
Participants' Interest:
73.46 Per Unit on 1,261,504 Units Outstanding 92,660,744
7.62 Per Unit on 9,337,219 Units Outstanding 71,152,456
------------ ------------
Total Liabilities and Participants' Equity $ 92,668,865 $ 71,164,360
============= ============
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Income Fund for Employees Trusts
Statements of Operations
QUARTER QUARTER FY ENDED 9 MONTHS 9 MONTHS
ENDING 07/31/99 ENDING 07/31/00 10/31/1999 ENDED 07/31/00 ENDED 07/31/99
---------- ------------ ------------ ------------ ------------
Investment Income:
<S> <C> <C> <C> <C> <C>
Interest $ 387,363 $ 393,273 $ 1,515,680 $ 1,172,776 $ 1,160,016
------------ ------------ --------------- ----------- -----------
Gross Investment Income 387,363 393,273 1,515,680 1,172,776 1,160,016
Less: Audit Expense (866) (856) (3,456) (2,578) (2,590)
------------ ------------ --------------- ----------- -----------
Net Investment Income $ 386,497 $ 392,417 $ 1,512,224 1,170,198 1,157,426
=========== ============ ================ ============ ===========
Realized and Unrealized Gain(Loss) on Investments:
Realized Gain(Loss) on Investments:
Proceeds from Sales $ 85,151,629 $ 62,947,759 $ 356,426,945 204,352,266 282.916.279
Cost of Securities Sold 85,151,629 62,948,116 356,426,945 204,352,623 282,916,279
------------ ------------ --------------- ----------- -----------
Net Realized Gain(Loss) 0 (357) 0 (357) 0
Unrealized Gain(Loss) on Investments:
Beginning of Period 0 0 0 0
End of Period 0 0 0 0 0
------------ ------------ --------------- ----------- -----------
Net Unrealized Gain(Loss) 0 0 0 0 0
------------ ------------ --------------- ----------- -----------
Net Realized and Unrealized Gain(Loss)
on Investments $ - $ (357) $ - (357) 0
============ ============ =============== ============ ===========
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Income Fund for Employees Trusts
Statements of Participants' Interest
QUARTER QUARTER FY ENDED 9 MONTHS 9 MONTHS
ENDING 07/31/99 ENDING 07/31/00 10/31/1999 ENDED 07/31/00 ENDED 07/31/99
---------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Participants' Interest at Beginning of Period $ 32,446,051 $ 25,586,062 $ 27,963,660 $ 26,636,430 $ 27,963,659
Changes from Investment Activities:
Net Investment Income 386,497 392,417 1,512,224 1,170,198 1,157,426
Net Realized Gain(Loss) on Investments 0 (357) 0 (357) 0
Net Unrealized Gain(Loss) on Investments 0 0 0 0 0
------------- ------------- ------------- ------------- -------------
Net Inc(Dec)from Investment Activity 386,497 392,060 1,512,224 1,169,841 1,157,426
------------- ------------- ------------- ------------- -------------
Changes from Participating Unit Transactions:
Received from Issuance of: 24,756 Units 1,425,384 12,783,987 11,686,034
Received from Issuance of: 38,582 Units 235,713 4,166,526
Payment on Redemption of: 77,126 Units (4,447,926) (15,623,441) (10,997,113)
Payment on Redemption of: 515,800 Units (3,165,762) (8,924,724)
------------- ------------- ------------- ------------- -------------
Net Inc(Dec) from Participating Unit
Transactions (3,022,542) (2,930,049) (2,839,454) (4,758,188) 688,921
------------- ------------- ------------- ------------- -------------
Participants' Interest at End of Period $ 29,810,006 $ 23,048,073 $ 26,636,430 $ 23,048,073 $ 29,810,006
============= ============= ============= ============= =============
See note to Condensed Financial Statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UMB BANK, n.a.
Pooled Income Fund for Employees Trusts
Statements of Assets and Liabilities
10/31/99 07/31/00
COST MARKET COST MARKET
------------------- ------------------------
Assets:
<S> <C> <C> <C> <C>
U.S. Government & Agency Obligations $ 12,976,183 $ 12,976,183 $ 5,931,157 $ 5,931,157
Commercial Paper 10,793,431 10,793,431 14,411,214 14,411,214
Other Investments 2,758,860 2,758,860 2,599,030 2,599,030
------------ ------------ ------------ ------------
Total Investments $ 26,528,474 $ 26,528,474 $ 22,941,401 $ 22,941,401
============ ============
Cash 0 0
Interest Receivable 110,679 110,423
Receivable for Securities Sold 0 0
------------ ------------
Total Assets $ 26,639,153 $ 23,051,824
============ ============
Liabilities:
Audit Fees Payable $ 2,723 $ 3,751
Payable for Securities Sold 0 0
------------ ------------
Total Liabilities 2,723 3,751
------------ ------------
Participants' Interest:
58.84 Per Unit on 452,661 Units Outstanding 26,636,430
6.16 Per Unit on 3,742,100 Units Outstanding 23,048,073
------------ ------------
Total Liabilities and Participants' Equity $ 26,639,153 $ 23,051,824
============ ============
Footnote to financial statements:
On March 15, 2000, the Funds converted from monthly to daily offering shares.
Thus, the Funds now provide shareholders with a daily net asset value. Also, the
Board of the Funds approved a 10 for one stock split with an ex-date and
effective date of February 18, 2000.
</TABLE>
<PAGE>
MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
FOR QUARTER ENDING 7/31/00
During the quarter, investors continued to look for signs that the economy would
cool off to a more sustainable rate in order to contain inflation and keep the
Federal Reserve from raising interest rates, as it has done six times in the
past thirteen months. While interest rates remained the key concern of the
market, corporate profits also came into play. Companies that could not meet
earnings expectations were punished.
The "old economy" stocks struggled during the quarter, as did telecommunication
shares. Drug stocks and some consumer stocks, spurred by merger activity, led
the way to higher prices in the broad market. Small capitalization stocks did
not fare much better than large capitalization stocks during the quarter. For
the quarter, the Russell 2000 Index of small cap stocks fell -0.80. The market
capitalization weighted S&P 500 Index return was down -1.20 for the quarter and
down -1.98 for the year-to-date.
In the middle of the quarter, the Federal Reserve raised its rates one-half
percentage point. This increase was the largest in more than five years. This
move was in reaction to continued high economic growth and fears about
inflation. The dampening efforts taken by the Federal Reserve may be taking
effect. Investors also seem to be more cautious which should help reduce the
speculation in the market place.
Pooled Equity Fund
During the period, new stock positions were taken in Procter and Gamble,
Gateway, U.S. West, Rohm & Haas, Amgen, Genetech and PE Biosystems. Positions
were deleted in Transocean Sedco, Electronic Data Systems, Bob Evans Farms,
Comsat Corp, Too Inc, Donnelly R R & Sons, Worthington Industries, Dun and
Bradstreet, Bassett Furniture, American Greetings, Kennametal, Eastman Kodak,
Lanier Worldwide, Stride Rite and Hercules. The Fund's total return (income plus
price appreciation) for the quarter was -0.51% The Fund's return for the quarter
ended 07/31/99 was 2.25% and for the fiscal year ended 10/31/99 was 11.63%. For
the past 12 months, the total Fund returned -4.91%. Excluding cash reserves, the
total return of stocks held by the Fund was -1.09% for the quarter and -8.83%
for the last 12 months. The Fund ended the period with cash reserves of 9.47%.
Pooled Debt Fund
In keeping with our philosophy of maintaining a high-quality portfolio with
limited maturity exposure, about 52% of the portfolio is held in U.S. Government
and Agency issues. Approximately 63% of the portfolio will mature within five
years. The weighted average life of the total portfolio is 3.7 years. The total
return of the Fund was 2.64% for the quarter and 5.07% for the preceding 12
months. The Fund's total return for the quarter ended 07/31/99 was -0.71% and
for the fiscal year ended 10/31/99 was 0.43%. At period end, the current yield
of the Fund was approximately 6.23%. The weighted yield to maturity at market
was 6.85%.
Pooled Income Fund
The Fund continues to be invested in short-term U.S. Government and Agency
obligations, high-quality commercial paper and liquid guaranteed insurance
contracts. The Fund's quarterly return of 1.69% is equivalent to an annualized
total return of 6.93%. The Fund's return for the quarter ended 07/31/99 was
1.25% and for the fiscal year ended 10/31/99 was 5.01%. For the past 12 months,
the Fund returned 6.05%. The Fund has an average maturity of 17 days and a
weighted yield to maturity of 6.42%.
<PAGE>
PART II -- OTHER INFORMATION
--------------------------------
Item 1. Legal Proceedings.
Not applicable.
Item 2. Changes in Securities.
Not applicable.
Item 3. Defaults Upon Senior Securities.
Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 5. Other Information.
Not applicable.
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits. The numbers set forth below correspond to the exhibit number in
Item 601 of Regulation S-K.
(2) Plan of Acquisition, reorganization, arrangement, liquidation or succession.
Not applicable.
(3) Articles of Incorporation and Bylaws.
Not applicable.
(4) Instrument Defining the Rights of Security Holders, Including Indentures.
Not applicable.
(10) Material Contracts.
Not applicable.
(11) Statement re Computation of Per Share Earnings.
Not applicable.
(15) Letter re Unaudited Interim Financial Information.
Not applicable.
(18) Letter re Change in Accounting Principles.
Not applicable.
(19) Report Furnished to Security Holders.
Not applicable.
(22) Published Report Regarding Matters Submitted to Security Holders.
Not applicable.
(23) Consents of Experts and Counsel.
Not applicable.
(24) Power of Attorney.
Not applicable.
(27) Financial Data Schedule.
27.1 - Pooled Income Fund
27.2 - Pooled Equity Fund
27.3 - Pooled Debt Fund
(99) Additional Exhibits.
None.
(b) Reports on Form 8-K.
No report on Form 8-K was required to be filed during the three months
ended July 31, 2000.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
The Collective Investment Trusts for Which
UMB Bank, n.a. is Trustee
(Registrant)
by UMB Bank, n.a. as trustee
Date: October 12, 2000 By: /s/Steve Campbell
---------------------------
Steve Campbell
Senior Vice President
By: /s/E. Frank Ware
--------------------------
E. Frank Ware
Executive Vice President and
Trust Accounting Officer
<PAGE>
INDEX TO EXHIBITS
27.1 Financial Data Schedule for Pooled Income Fund
27.2 Financial Data Schedule for Pooled Equity Fund
27.3 Financial Data Schedule for Pooled Debt Fund
<PAGE>
27.1 Article 5 FDS - Pooled Income
The Schedule contains Summary Financial Information Extracted from the unaudited
Financial Statements for the 9 Months Ending July 31, 2000, and is qualified in
its entirety by reference to such Financial Statements.
PERIOD-TYPE 3 MTHS 9 MTHS
FISCAL-YEAR END 10/31/2000 10/31/2000
PERIOD-END 7/31/2000 7/31/2000
CASH 0 0
SECURITIES 22,941,401 22,941,401
RECEIVABLES 110,423 110,423
ALLOWANCES 0 0
INVENTORY 0 0
CURRENT-ASSETS 0 0
PP&E 0 0
DEPRECIATION 0 0
TOTAL-ASSETS 23,051,824 23,051,824
CURRENT-LIABILITIES 3,751 3,751
BONDS 0 0
PREFERRED-MANDATORY 0 0
PREFERRED 0 0
COMMON 0 0
OTHER-SE 23,048,073 23,048,073
TOTAL-LIABILITY-AND-EQUITY 23,051,824 23,051,824
SALES 0 0
TOTAL-REVENUES 393,274 1,172,776
CGS 0 0
TOTAL-COST 0 0
OTHER-EXPENSE (856) (2,578)
LOSS-PROVISION 0 0
INTEREST-EXPENSE 0 0
INCOME-PRETAX 392,417 1,170,198
INCOME-TAX 0 0
INCOME-CONTINUING 392,417 1,170,198
DISCONTINUED 0 0
EXTRAORDINARY 0 0
CHANGES 0 0
NET-INCOME 392,417 1,170,198
EPS-PRIMARY $0.10 $0.28
EPS-DILUTED $0.10 $0.28
<PAGE>
27.1 Article 5 FDS - Pooled Equity
The Schedule contains Summary Financial Information Extracted from the unaudited
Financial Statements for the 9 Months Ending July 31, 2000, and is qualified in
its entirety by reference to such Financial Statements.
PERIOD-TYPE 3 MTHS 9 MTHS
FISCAL-YEAR-END 10/31/2000 10/31/2000
PERIOD-END 7/31/2000 7/31/2000
CASH (78,380) (78,380)
SECURITIES 111,252,479 111,252,479
RECEIVABLES 128,026 128,026
ALLOWANCES 0 0
INVENTORY 0 0
CURRENT-ASSETS 0 0
PP&E 0 0
DEPRECIATION 0 0
TOTAL-ASSETS 111,302,125 111,302,125
CURRENT-LIABILITIES 14,459 14,459
BONDS 0 0
PREFERRED-MANDATORY 0 0
PREFERRED 0 0
COMMON 0 0
OTHER-SE 111,287,666 111,287,666
TOTAL-LIABILITY-AND-EQUITY 111,302,125 111,302,125
SALES 0 0
TOTAL-REVENUES 757,751 2,867,579
CGS 0 0
TOTAL-COST 0 0
OTHER-EXPENSE (2,336) (11,257)
LOSS-PROVISION 0 0
INTEREST-EXPENSE 0 0
INCOME-PRETAX 755,416 2,856,322
INCOME-TAX 0 0
INCOME-CONTINUING 755,416 2,856,322
DISCONTINUED 0 0
EXTRAORDINARY 0 0
CHANGES 0 0
NET-INCOME 755,416 2,856,322
EPS-PRIMARY $0.07 $0.24
EPS-DILUTED $0.07 $0.24
<PAGE>
27.1 Article 5 FDS - Pooled Debt
The Schedule contains Summary Financial Information Extracted from the unaudited
Financial Statements for the 9 Months Ending July 31, 2000, and is qualified in
its entirety by reference to such Financial Statements.
PERIOD-TYPE 3 MTHS 9 MTHS
FISCAL-YEAR END 10/31/2000 10/31/2000
PERIOD-END 7/31/2000 7/31/2000
CASH 0 0
SECURITIES 69,779,086 69,779,086
RECEIVABLES 1,385,274 1,385,274
ALLOWANCES 0 0
INVENTORY 0 0
CURRENT-ASSETS 0 0
PP&E 0 0
DEPRECIATION 0 0
TOTAL-ASSETS 71,164,360 71,164,360
CURRENT-LIABILITIES 11,904 11,904
BONDS 0 0
PREFERRED-MANDATORY 0 0
PREFERRED 0 0
COMMON 0 0
OTHER-SE 71,152,456 71,152,456
TOTAL-LIABILITY-AND-EQUITY 71,164,360 71,164,360
SALES 0 0
TOTAL-REVENUES 1,184,826 4,307,989
CGS 0 0
TOTAL-COST 0 0
OTHER-EXPENSE (2,335) (8,007)
LOSS-PROVISION 0 0
INTEREST-EXPENSE 0 0
INCOME-PRETAX 1,182,491 4,299,982
INCOME-TAX 0 0
INCOME-CONTINUING 1,182,491 4,299,982
DISCONTINUED 0 0
EXTRAORDINARY 0 0
CHANGES 0 0
NET-INCOME 1,182,491 4,299,982
EPS-PRIMARY $0.12 $0.39
EPS-DILUTED $0.12 $0.39
