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Exhibit 99.77D
ATTACHMENT FOR CURRENT FILING OF N-SAR
SUB-ITEM 77D(g) and 77Q1(b)
The following resolutions were adopted by the Trustees at their meeting held
April 6-7, 2000.
APPROVAL OF CHANGES TO INVESTMENT POLICIES
The Chairman indicated that the next item of business was the consideration of
changes to the investment policies of the Small Company Value Trust managed by
AXA Rosenberg and MID Cap Growth Trust managed by A I M Capital Management, Inc.
("AIM"). Mr. Boyda presented the resolution. After discussion, on motion duly
made and seconded, the following resolutions were adopted:
AXA Rosenberg Small Company Value Trust
WHEREAS, the Subadviser to the Small Company Value Trust desires to modify the
Trust's investment policies to state that, under normal market conditions, at
least 65% of the portfolio's total assets will be invested in securities with
market capitalizations that approximately match the range of capitalization of
the Russell 2000 Index; it is
RESOLVED, that the amended and restated investment policies of the Small Company
Value Trust as set forth below are hereby approved effective upon disclosure in
the Trust's prospectus.
INVESTMENT POLICIES
AXA Rosenberg Investment Management LLC ("AXA Rosenberg") manages the
Small Company Value Trust. AXA Rosenberg pursues this objective by investing,
under normal circumstances, at least 65% of the portfolio's assets in common
stocks of companies with total market capitalization that approximately match
the range of capitalization of the Russell 2000 Index which are traded
principally in the markets of the United States. The market capitalizations
within the Russell 2000 Index will vary, but as of December 31, 1999, they
ranged from approximately $2 million to $13.2 billion. Because the companies in
which the Small Company Value Trust invests typically do not distribute
significant amounts of company earnings to shareholders, the Small Company Value
Trust's objective places relatively greater emphasis on capital appreciation
than on current income.
AIM Mid Cap Growth Trust
WHEREAS, the Subadviser to the Mid Cap Growth Trust desires to modify the
Trust's investment policies to allow investment in all market capitalizations;
and
WHEREAS, the name of the portfolio must be amended to reflect the change in
investment policies; it is
RESOLVED, that the amended and restated investment policies of the Mid Cap
Growth Trust as set forth below are hereby approved effective upon disclosure in
the Trust's prospectus.
INVESTMENT POLICIES
A I M Capital Management, Inc. ("AIM") manages the All Cap Growth
Trust. AIM seeks to achieve this investment objective by investing the
portfolio's assets, under normal market conditions, principally in common stocks
of companies that are likely to benefit from new or innovative products,
services or processes as well as those that have experienced above-average,
long-term growth in earnings and have excellent prospects for future growth. As
a result of this policy, the market prices of many of the securities purchased
and held by the portfolio may fluctuate widely. Any income received from
securities held by the portfolio will be incidental.
FURTHER RESOLVED, that the name of the portfolio be redesignated as the All Cap
Growth Trust to have the same relative rights and preferences accorded such
Series of Shares in the Agreement and Declaration of Trust dated September 29,
1988; and
FURTHER RESOLVED, that such redesignation shall become effective upon amendment
to the Trust's Agreement and Declaration of Trust effecting such redesignation.
