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As filed with the Securities and Exchange Commission on June 19, 2000.
Securities Act File No. 2-29020
Investment Company Act File No. 811-1646
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OMB Number: U.S. SECURITIES AND EXCHANGE COMMISSION
3235-0307 WASHINGTON, D.C. 20549
Expires: 05/31/00 ---------------
Estimated average
Burden hours per FORM N-1A
response 212.80
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REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [_]
Pre-Effective Amendment No. [_]
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Post-Effective Amendment No. 66 [X]
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and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [_]
Amendment No. 66 [X]
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(Check appropriate box or boxes.)
CIGNA Funds Group
(Exact Name of Registrant as Specified in Charter)
100 Front Street, Suite 300, Worcester, Massachusetts 01601
(Address of Principal Executive Offices) (Zip Code)
(860) 726-3700
Registrant's Telephone Number, including Area Code
Linda R. Johnson, 100 Front Street, Suite 300
Worcester, Massachusetts 01601
(Name and Address of Agent for Service)
Continuous
(Approximate Date of Proposed Public Offering)
It is proposed that this filing will become effective (check appropriate box):
[_] Immediately upon filing pursuant to paragraph (b)
[_] on pursuant to paragraph (b)
[X] 60 days after filing pursuant to paragraph (a)(1)
[_] on (date) pursuant to paragraph (a)(1)
[_] 75 days after filing pursuant to paragraph (a)(2)
[_] on (date) pursuant to paragraph (a)(2) of rule 485.
If appropriate, check the following box:
[_] This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
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Please send communications to: Jeffrey S. Winer, Esq.
c/o TimesSquare Capital Management, Inc.
900 Cottage Grove Road, S-215, Hartford CT 06152-2215
(860) 726-5576
With a copy to: Geoffrey R. T. Kenyon, Esq.
Goodwin, Procter & Hoar LLP
Exchange Place
Boston, Ma 02109-2881
(610) 570-1167
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This Post-Effective Amendment No. 66 to the Registration statement of CIGNA
Funds Group is comprised of the following papers and documents:
1. Facing Sheet;
2. Supplement to the Prospectus for the premier class of CIGNA Funds Group
containing disclosure concerning the prior performance of portfolios managed by
sub-advisers to the sub-advised series of CIGNA Funds Group;
3. Signature page.
4. Power of Attorney
The prospectus dated May 1, 2000 for the premier class of all of the series of
CIGNA Funds Group, the Statement of Additional Information also dated May 1,
2000, and Part C and all Exhibits, are hereby incorporated by reference to
Post-Effective Amendment No. 64 filed on April 28, 2000 (accession number
0000022828-00-000009).
C-2
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CIGNA Funds Group
Charter Funds(SM)
Premier Class
Supplement Dated June __, 2000 to
Prospectus dated May 1, 2000
Prior Performance of the Funds' Sub-Advisers
The following tables reflect past investment performance achieved by composites
of portfolios managed by the funds' sub-advisers and having investment
objectives, policies, strategies and risks substantially similar to those of the
corresponding Charter Fund of the same name. Each composite includes all
discretionary, fee-paying accounts and mutual funds managed by each respective
fund's sub-adviser, all of which have substantially similar investment
objectives, policies, strategies and risks as their corresponding Charter Fund.
The tables show the average annualized total returns for the one, three, five
and ten-year (or life of the composite, if shorter) periods ended December 31,
1999. The data is provided to illustrate the past performance of the
sub-advisers in managing substantially similar accounts as measured against
specified market indices and does not represent the performance of the Charter
Funds. These performance figures are based on the actual investment performance
of the composites, net of fees and expenses (except for custodial fees and
expenses of private accounts, which typically are paid directly by the account),
or are based on performance net of the highest fees charged to any account in
the composite. Fund advisory fees and other expenses generally are higher than
the fees on the accounts included in the composites. Therefore, fund returns
will generally be lower. Investors should not consider this performance data as
fund performance, or an indication of future performance of the funds.
Balanced Composite
Sub-Adviser - INVESCO, Inc.
Composite Inception: December 31, 1972
Lehman
Government/
S&P 500 Corporate 60% S&P 500 Index,
Composite Index1 Bond Index2 40% Lehman Gov/Corp Bond Index
--------- ------ ----------- ------------------------------
One year 5.8% 21.04% -2.15% 11.6%
Three years 15.4% 27.56% 5.54% 18.9%
Five years 17.5% 28.56% 7.61% 20.1%
Ten Years 13.5% 18.21% 7.65% 14.1%
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Large Company Stock Growth Composite
Sub-Adviser - Morgan Stanley Dean Witter Investment Management Inc.
Composite Inception: December 21, 1984
Composite S&P 500 Index1
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One year 39.25% 21.04%
Three years 30.37% 27.56%
Five years 33.36% 28.56%
Ten years 19.35% 18.21%
Large Company Stock Value Composite
Sub-Adviser - John A. Levin & Co.
Composite Inception - September 30, 1986
Composite Russell 1000 Value Index3 S&P 500 Index1
--------- ------------------------- --------------
One year 16.79% 7.35% 21.04%
Three years 18.51% 18.83% 27.56%
Five years 21.78% 23.08% 28.56%
Ten years 15.50% 15.57% 18.21%
Small Company Stock Growth Composite
Sub-Adviser - Fiduciary International, Inc.
Composite Inception - January 1, 1987
Composite Russell 2000 Index4 Russell 2000 Growth Index5
--------- ------------------- --------------------------
One year 59.52% 21.26% 43.09%
Three years 27.09% 13.08% 17.83%
Five years 27.11% 16.69% 18.99%
Ten years 21.64% 13.40% 13.51%
Small Company Stock Value Composite
Sub-Adviser - Berger LLC
Composite Inception - December 5, 1997
Composite6 Russell 2000 Index4
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One year 17.70% 21.26%
Since Inception 10.68% 9.25%
<PAGE>
Foreign Stock Composite
Sub-Adviser - Bank of Ireland Asset Management (U.S.) Limited
Composite Inception - January 1, 1990
Morgan Stanley Capital International
Composite7 Europe, Australia and Far East Index8
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One year 32.02% 27.29%
Three years 17.25% 16.06%
Five years 18.91% 13.16%
Ten years 14.48% 7.34%
All composite performance information assumes reinvestment of all net investment
income.
The average annual total return is equivalent to the annual rate of return
which, if earned in each year of the indicated multi-year period, would produce
the actual cumulative rate of return over the time period.
The private accounts that are included in the composites are not subject to the
same types of expenses to which the funds are subject, nor to the
diversification requirements, specific tax restrictions and investment
limitations imposed on the funds by the Investment Company Act of 1940 or
Subchapter M of the Internal Revenue Code. If these requirements had been
applicable, they may have adversely affected performance of these accounts.
Consequently, if the private accounts included in the composites had been
regulated as mutual funds under the federal securities and tax laws, the
composites' performance results may have been lower than what is shown above.
In addition, the funds generally experience cash flows that are different that
the private accounts, and this may also cause the performance of a fund to be
lower than that of its corresponding composite. Also, the methodology used to
calculate the total return of the private accounts included in the composites is
different that the Securities and Exchange Commission's methods to calculate
total return for mutual funds. The use of different methodology could result in
performance results that differ from results calculated according to the SEC's
methods. Private account performance calculations have been prepared in
conformance with methodology approved by the Association for Investment
Management and Research ("AIMR"), an organization of investment professionals.
For the Large Company Stock Value and Balanced composites, performance
calculations have been prepared in conformance with AIMR approved methodology
since January 1, 1993.
The investment results of the composites presented above are not intended to
predict or suggest the returns that might be experienced by the corresponding
Charter Fund or an individual investor in a fund.
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1S&P 500 Index (registered trademark of Standard & Poor's Corp.): An
unmanaged index of 500 common stocks, weighted by market capitalization,
representing approximately 75% of NYSE (New York Stock Exchange) capitalization
and 30% of NYSE issues. Index performance includes the reinvestment of dividends
and capital gains.
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2 Lehman Government/Corporate Bond Index: An index considered indicative of the
broad domestic fixed-income market.
3 Russell 1000(R) Value Index: A market capitalization-weighted index published
by Frank Russell & Co. that measures the performance of the companies in the
Russell 1000 Index with lower price-to-book ratios and lower forecasted growth
values. The Russell 1000 Index measures the performance of the 1000 largest
companies in the Russell 3000 Index.
4 Russell 2000(R) Index: A market capitalization-weighted index published
by Frank Russell & Co. that measures the performance of the 2000 smallest
companies in the Russell 3000 Index, which represents approximately 8% of the
total market capitalization of the Russell 3000 Index. The index is considered
to be Frank Russell & Co.'s small capitalization index.
5 Russell 2000(R) Growth Index: Measures the performance of those Russell 2000
companies with higher price-to-book ratios and higher forecasted growth values.
6 The Small Company Stock Value Composite consists exclusively of Connecticut
General Life Insurance Company Separate Account BSC. As of December 31, 1999
this account had assets of $287 million.
7 The composite for the period since January 1, 1998 is comprised of all U.S.
dollar denominated fully discretionary international accounts managed by the
sub-adviser. For the period January 1, 1990 to December 31, 1997 the composite
is comprised of all U.S. and Canada based fully discretionary international
accounts managed by the sub-adviser. Composite inception date represents
commencement of use of AIMR approved methodolgy for calculating performance.
8 Morgan Stanley Capital International EAFE Index: Measures the performance for
a diverse range of global stock markets within Europe, Australia and the Far
East.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, Registrant, CIGNA Funds Group has
duly caused this Amendment No. 66 to the Registration Statement to be signed on
its behalf by the undersigned, duly authorized, in the City of Bloomfield, and
State of Connecticut on the 19th day of June, 2000.
CIGNA Funds Group
Richard H. Forde
Chairman of the Board of Trustees
and President
By: /s/ Jeffrey S. Winer
-----------------------------------
Jeffrey S. Winer
Attorney-in-Fact
Pursuant to the requirements of the Securities Act of 1933, as amended, this
Amendment No. 66 to the Registration Statement has been signed below by the
following persons in the capacities and on the date indicated.
Signature Title Date
--------- ----- ----
Richard H. Forde Chairman of June 19, 2000.
the Board of
Trustees and
President (principal
By: /s/ Jeffrey S. Winer executive officer)
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Jeffrey S. Winer
Attorney-in-Fact Treasurer
(principal
financial officer
and principal
/s/ Alfred A. Bingham III accounting officer) June 19, 2000.
----------------------------
Alfred A. Bingham III
This Amendment to the Registration Statement has also been signed below by
Jeffrey S. Winer, Attorney-in-Fact, on behalf of the following Trustees on the
date indicated, such Trustees being all of the Trustees currently holding the
office of Trustee of Registrant.
Hugh R. Beath Thomas C. Jones
Richard H. Forde Paul J. McDonald
Russell H. Jones
By: /s/ Jeffrey S. Winer June 19, 2000.
----------------------------
Jeffrey S. Winer
C-3
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CIGNA FUNDS GROUP
CIGNA INSTITUTIONAL FUNDS GROUP
CIGNA VARIABLE PRODUCTS GROUP
POWER OF ATTORNEY
The undersigned hereby appoint Alfred A. Bingham III and Jeffrey S. Winer, each
of them singly and with full power of substitution, attorney-in-fact and agent
for me and in my name and on my behalf in any and all capacities to sign any
Registration Statement under the Securities Act of 1933, as amended, any
Registration Statement under the Investment Company Act of 1940, as amended, or
any filing under the securities laws of any of the states of the United States
of America or of any jurisdiction ("Blue Sky Law") for CIGNA Funds Group, CIGNA
Institutional Funds Group and CIGNA Variable Products Group and any amendment to
any such Registration Statement or any Blue Sky Law filing with the Securities
and Exchange Commission under the Securities Act of 1933, as amended, and under
the Investment Company Act of 1940, as amended, or with the appropriate state
agency under the applicable Blue Sky Laws, to file such Registration Statements,
amendments and filings and generally to do and perform all things necessary to
be done in that connection, hereby ratifying and confirming my signature as it
may be signed by said attorney-in-fact and agent to any and all Registration
Statements and amendments thereto and to any and all Blue Sky Law filings and
amendments thereto and ratifying and confirming all other acts that said
attorney-in-fact and agent may lawfully do or cause to be done by virtue of this
appointment.
Signed this 27th day of April, 1999. /s/ Richard H. Forde
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Richard H. Forde
President
CIGNA Variable Products Group
CIGNA Funds Group
CIGNA Institutional Funds Group
/s/ Richard H. Forde
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Richard H. Forde
Chairman of the Board, President
and Trustee
/s/ Hugh R. Beath
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Hugh R. Beath, Trustee
/s/ Russell H. Jones
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Russell H. Jones, Trustee
/s/ Thomas C. Jones
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Thomas C. Jones, Trustee
/s/ Paul J. McDonald
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Paul J. McDonald, Trustee
