As filed with the Securities and Exchange Commission
December 27, 1995
Securities Act of 1933 File No. 2-80886
Investment Company Act of 1940 File No. 811-3626
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933
Post-Effective Amendment No. 33
and/or
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940
Amendment No. 29
(Check box or boxes)
CITIZENS INVESTMENT TRUST
(Exact name of registrant as specified in charter)
One Harbour Place
Suite 525
Portsmouth, N.H. 03801
(Address of Principal Executive Offices)
Registrant's Telephone Number, including Area Codes: (603)
436-5152
Sophia Collier
One Harbour Place
Suite 525
Portsmouth, N.H. 03801
(Name and Address of Agent for Service)
It is proposed that this filing will become effective
x immediately upon filing pursuant to paragraph (b)
on _____________ pursuant to paragraph (b)
75 days after filing pursuant to paragraph (a)
on (date) pursuant to paragraph (a) of Rule 485
Pursuant to Rule 24f-2 under the Investment Company Act of
1940, the
Registrant has previously registered an indefinite number of
securities under
the Securities Act of 1933. The Notice required by Rule 24f-
2 was filed by
the Registrant for its most recent fiscal year on August 28,
1995.
CITIZENS INVESTMENT TRUST
CROSS INDEX PAGE
Working Assets Money Market, Citizens Income, Citizens Index,
Citizens
Emerging Growth, Citizens Global Equity
Part A INFORMATION REQUIRED IN A PROSPECTUS
ITEM/REFERENCE/ Page
Item 1./Cover Page/Cover Page
Item 2./Synopsis; Fee Information/ Cover Page; Fee
Information/ 1;2
Item 3./Condensed Financial Information/Condensed Financial
Information; Financial Highlights/ 3;4
Item 4./General Description of Registrant/Organization and
Management of the Trust/15
Item 5./Management of the Fund/Organization and Management of
the Trust/ 15
Item 6./Capital Stock and other Securities/How to Purchase
and Redeem Shares; Dividends, Distributions,and Taxes/ 8;21
Item 7./Purchase of Securities Being Offered/How to Purchase
and Redeem Shares/18
Item 8./Redemption or Repurchase/How to Purchase and Redeem
Shares/18
Item 9./Legal Proceedings/None
Part B INFORMATION REQUIRED IN A STATEMENT OF
ADDITIONAL INFORMATION
Item 10./Cover Page/Cover Page
Item 11./Table of Contents/Table of Contents/Cover Page
Item 12./General Information & History/The Fund/1
Item 13./Investment Objectives & Policies/Investment
Objectives and Policies; Other Investment Techniques/1;5
Item 14./Management of the Registrant/Trustees and Officers;
Add'l Information Regarding Citizens Adviser/16;18
Item 15./Control Persons & Principal Holders of
Securities/Add'l Information Regarding Citizens Adviser/18
Item 16./Investment Advisory & Other Services/Investment
Advisory & Other Services /19
Item 17./Brokerage Allocation & Other Practices/Turnover and
Portfolio Transactions/7
Item 18./Capital Stock & Other Securities/The Value of Our
Shares/8
Item 19./Purchase, Redemption & Pricing of Securities Being
Offered/ Additional Redemption Information/16
Item 20./Tax Status/Federal Taxes/14
Item 21./Underwriters/Investment Advisory and Other
Services/19
Item 22./Calculation of Yield Quotations of Money Market
Funds/About Our Yield and Total Return/9
Item 23./Financial Statements/Financial Statements/22
CITIZENS INVESTMENT TRUST
CROSS INDEX PAGE
Muir California Tax-Free Income Portfolio
Part A INFORMATION REQUIRED IN A PROSPECTUS
ITEM / REFERENCE/ Page
Item 1. /Cover Page/ Cover Page
Item 2. /Synopsis; Fee Information/ Cover Page; Fee
Information/ 1;2
Item 3. /Condensed Financial Information/Condensed Financial
Information; Financial Highlights/ 3;4
Item 4. /General Description of Registrant/ Organization and
Management of the Trust /9
Item 5. /Management of the Fund /Organization and Management
of the Trust /9
Item 6. /Capital Stock and other Securities/ How to Purchase
and Redeem Shares; Dividends, Distributions, and Taxes /13;17
Item 7./ Purchase of Securities Being Offered /How to
Purchase and Redeem Shares/ 13
Item 8. /Redemption or Repurchase /How to Purchase and Redeem
Shares/13
Item 9. /Legal Proceedings/None
Part B INFORMATION REQUIRED IN A STATEMENT OF
ADDITIONAL
INFORMATION
Item 10. /Cover Page /Cover Page
Item 11. /Table of Contents/Table of Contents /Cover Page
Item 12. /General Information & History/ The Fund/2
Item 13. /Investment Objectives & Policies/ Investment
Objectives and Policies/2
Item 14. /Management of the Registrant /Trustees and
Officers; Management of
the Fund /20;21
Item 15. /Control Persons & Principal Holders of Securities
/Management of the Fund /21
Item 16. /Investment Advisory & Other Services /Management of
the Fund /21
Item 17. /Brokerage Allocation & Other Practices /Execution
of Portfolio Transactions /23
Item 18. /Capital Stock & Other Securities /Determination of
Share Price/ 24
Item 19. /Purchase, Redemption & Pricing of Securities Being
Offered/ Additional Purchase and Redemption Information/23
Item 20. /Tax Status/ Tax Information /9
Item 21. /Underwriters /Principal Underwriter /24
Item 22 /Calculation of Yield Quotations of Money market
Funds / None
Item 23. /Financial Statements /Financial Statements /28
PART A
STICKER
Supplement dated: December 27, 1995
to Prospectus dated: September 30, 1995
All Citizens Trust Portfolios Eliminate $12 Annual Account
Fee.
Consistent with our continual efforts to improve service and
value to shareholders, we are no longer imposing a $12 annual
account fee on any of the Fund's portfolios. This means that
all references to the $12 annual account fee in this
prospectus are no longer applicable.
The changes are as follows:
Page 2: delete section Annual Account Fee.
Page 2: Fee Information:
New text: Money Emerging Global
Market Income Index Growth Equity
Maintenance Fee
(annual): None None None None None
Page 2: Annual Portfolio Operating Expenses
New text: Money Emerging Global
Market Income Index Growth Equity
Management Fees 0.50% 0.65% 0.70% 1.00% 1.00%
Distribution Expense
(12b-1 fee) 0.20% 0.35% 0.25% 0.35% 0.35%
Other Expenses 0.51% 0.35% 0.80% 0.55% 1.15%
Total Portfolio
Operating
Expenses 1.21% 1.35% 1.75% 1.90% 2.50%
Page 2: Example:
New text:
You would have paid the following expenses on a $1,000
investment assuming a 5% annual return and redemption at the
end of each period.
1 Year 3 Years 5 Years 10 Years
Working Assets Money
Market Portfolio $ 12 $ 38 $ 66 $ 147
Citizens Income Portfolio $ 14 $ 43 $ 74 $ 162
Citizens Index Portfolio $ 18 $ 55 $ 95 $ 206
Citizens Emerging Growth
Portfolio $ 19 $ 60 $ 103 $ 222
Citizens Global Equity
Portfolio $ 25 $ 78 $ 133 $ 284
Page 17
Delete the paragraph Annual Account Maintenance Fee
PART A
STICKER
Supplement dated: December 27, 1995
to Prospectus dated: September 30, 1995
All Citizens Trust Portfolios Eliminate $12 Annual Account
Fee.
Consistent with our continual efforts to improve service and
value to shareholders, we are no longer imposing a $12 annual
account fee on any ofthe Fund's portfolios. This means that
all references to the $12 annual account fee in this
prospectus are no longer applicable.
The changes are as follows:
Page 2: delete section Fee Information.
Page 2: Expense table:
New text: Maintenance Fee (annual): None
Page 2: Example:
New text:
You would have paid the following expenses on a $1,000
investment assuming
a 5% annual return and redemption at the end of each period.
1 Year 3 Years 5 Years 10 Years
Muir California Tax-Free Income
Portfolio $ 13 $ 40 $ 69 $ 151
Page 11
Delete the paragraph Annual Account Maintenance Fee
CITIZENS INVESTMENT TRUST
PART C
OTHER INFORMATION
Item 24: Financial Statements and Exhibits
(A) Audited Financial Statements: the following audited
Financial statements are incorporated by reference to the
Registrant's Annual Report to shareholders for the period
ended June 30, 1995: material currently on file
Statement of Investments - June 30, 1995
Statement of Assets and Liabilities - June 30, 1995
Statement of Operations for the year ended June 30, 1995
Statement of Changes in Net Assets for the year ended
June 30, 1995
Selected per Share Data and Ratios from Inception
through June 30, 1995
Notes to Financial Statements: June 30, 1995
Auditors Report: June 30, 1995
(B) Exhibits
(1) declaration of trust : material currently on file:
material currently on file
(2) by-laws: material currently on file
(3) not applicable
(4) not applicable
(5) management agreement: material currently on file
(6) distribution agreement: material currently on file
(7) not applicable
(8) custodian agreement: material currently on file
(9) other material contracts:
a) administrative agreement: material currently
on file
(10) opinion and consent of counsel as to the legality
of the securities being registered: material currently on
file
(11) consent of independent certified public accountants
as to use of their report: material currently on file
(12) not applicable
(13) copies of written assurance from initial
stockholders: material currently on file
(14) copies of model plan used in establishment of
retirement plan: material currently on file
(15) Rule 12b-1 distribution plan: material currently
on file
(16) Schedule for computation of each performance
quotation provided in the registration Statement (in response
to Item 22): provided in Statement of Additional Information
Item 25: Persons controlled by or under Common control with
Registrant: None
Item 26: Number of holders of securities as of November 30,
1995:
Title Number of Record Holders
Working Assets Money Market Portfolio 9,983
Citizens Income Portfolio 2,295
Citizens Emerging Growth Portfolio 2,626
Citizens Global Equity Portfolio 1,911
Muir California Tax-Free Income Portfolio 1,008
Citizens Index Portfolio 11,129
E-Fund 74
Item 27 Indemnification.
Article VII, Section 12 of the Agreement and
Declaration of Trust provides that the Trust shall indemnify
any person who was or is a party or is threatened to be made
a party to any proceeding by reason of the fact that such
person is or was an agent of the Trust, against expenses,
judgments, fines, settlements, and other amounts actually and
reasonably incurred in connection with such proceeding if
that person acted in good faith and reasonably believe
her/his conduct to be in the best interest of the Trust.
Indemnification will not be provided in certain
circumstances, however, including instance of willful
misfeasance, bad faith, gross negligence, and reckless
disregard of the duties involved in the conduct of the
particular office involved.
Insofar as indemnification for liabilities arising under
the Securities Act of 1933 may be permitted to the 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
ExchangeCommission 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 its 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 Business and Other Connections of Investment
Adviser. Citizens Securities, Inc, 111 Pine Street, San
Francisco, California 94111, and One Harbour Place,
Portsmouth, New Hampshire 03801, a registered broker/dealer
and principal underwriter for Citizens Invesment Trust
("Registrant"). It is a wholly owned subsidiary of Citizens
Advisers, Inc., the Investment Adviser, a California
Corporation. The officers and directors of Citizens
Securities having other business of a substantial nature are
as follows:
Name and Principal
Business Address Nature of Other Business
Sophia Collier President and Director
One Harbour Place, Suite 525 of Registrant
Portsmouth, N.H. 03801
Item 29: Principal Underwriters
(A) Not Applicable
(B)
Positions and
Name and Principal Positions and Offices Offices with
Business Address with Underwriter Registrant
Sophia Collier President and Director of President and
See Item 28 underwriter Director
(C) Not Applicable
Item 30 Location of Accounts and Records: The account,
books, or other documents required to be maintained by
Section 31(a) of the 1940 Act and the rules thereunder are
kept by the Registrants Transfer and Dividend Distributing
Agent, Norwest Bank Minnesota, N.A., Mutual Fund Services -
Transfer Agent, PFPC, Inc., 400 Bellevue Pkwy., Wilmington,
DE 19809.
Item 31 Management Services: Not applicable
Item 32 Undertakings: If the information called for by item
5A of the Form N-1A is contained in the latest Annual Report
to shareholders, the Registrant undertakes to furnish each
person to whom a prospectus is delivered with a copy of the
Registrant's latest annual report to shareholders, upon
request and without charge.
SIGNATURES
Pursuant to the requirements of the Securities Act of
1933 and the Investment Company Act of 1940 the Registrant
has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereto duly authorized, in
the City of Portsmouth, and State of New Hampshire, on the
17th day of July, 1995.
CITIZENS TRUST
By: /s/ Sophia Collier *
Sophia Collier, President
Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed below by
the following persons in the capacities and on the date
indicated.
/s/ Sophia Collier *
Trustee
Sophia Collier President and December 28, 1995
Principal Executive
Principal Accounting Officer
Principal Financial Officer
/s/ William Glenn *
- ------------------------------------------- Trustee
December 28, 1995
(William Glenn)
/s/ Ada Sanchez
- ------------------------------------------- Trustee
December 28, 1995
(Ada Sanchez)
/s/ J.D. Nelson *
- ------------------------------------------- Trustee
December 28, 1995
(J.D. Nelson)
/s/ Azie Taylor Morton *
- ------------------------------------------- Trustee
December 28, 1995
(Azie Taylor Morton)
/s/ Juliana Eades *
- ------------------------------------------- Trustee
December 28, 1995
(Juliana Eades)
/s/ Wilma Mankiller
- ------------------------------------------- Trustee
December 28, 1995
(Wilma Mankiller)
/s/ Jeffrey Ken Mori *
- ------------------------------------------- Trustee
December 28, 1995
(Jeffrey Key Mori)
* By Sophia Collier Attorney in Fact __/s/ Sophia
Collier *
See Power of Attorney dated May 15, 1992, filed with
the commission on May 15, 1992 as part of Citizens Trust Post
Effective Amendment #12.
See Power of Attorney dated November 12, 1992, filed
with the commission on November 12, 1992 as part of Citizens
Trust Post Effective Amendment #14.
