As filed with the Securities and Exchange Commission
on June 9, 1998
- ------------------------------------------------------
- -----------------------
Registration No. 33-2627
811-4551
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933
[ ] Pre-Effective Amendment No.
[X] Post-Effective Amendment No. 45
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940,
as amended Amendment No. 45
SMITH BARNEY EQUITY FUNDS
(Exact name of Registrant as Specified in Charter)
388 Greenwich Street, New York, New York 10013
(Address of Principal Executive Offices) (Zip Code)
(800)-451-2010
(Registrant's Telephone Number, including Area Code:)
Christina T. Sydor
388 Greenwich Street, New York, New York 10013(22nd
Floor)
(Name and Address of Agent For Service)
Continuous
(Approximate Date of Proposed Public Offering)
It is proposed that this filing will become effective:
_____ immediately upon filing pursuant to Paragraph
(b)
__X__ On June 15, 1998 pursuant to paragraph (b)
_____ 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.
Title of Securities Being Registered: Shares of Common
Stock
SMITH BARNEY EQUITY FUNDS
CONTENTS OF REGISTRATION STATEMENT
This Registration Statement contains the following
pages and documents:
Front Cover
Contents Page
Cross-Reference Sheet
Part A - Prospectus
Part B - Statement of Additional Information
Part C - Other Information
Signature Page
Exhibits
SMITH BARNEY EQUITY FUNDS
FORM N-1A CROSS REFERENCE SHEET
Pursuant to Rule 495(a) Under the Securities Act of
1933, as amended
Part A
Item No Prospectus Caption
1. Cover Page Cover Page
2. Synopsis Prospectus Summary
3. Condensed Financial
Information Financial Highlights
4. General Description
of Registrant Cover Page
Prospectus Summary
Investment Objective
and Management Policies
Distributor
Additional Information
5.Management of
the Fund Prospectus Summary
Management of the Trust
and the Fund
Distributor
Additional Information
6. Capital Stock and
Other Securities Investment Objective
and Management Policies
Dividends, Distributions
and Taxes
Additional Information
7. Purchase of Securities
Being Offered Valuation of Shares
Purchase of Shares
Exchange Privilege
Redemption of Shares
Minimum Account Size
Distributor
Additional Information
8. Redemption or Repurchase
of Shares Purchase of Shares
Redemption of Shares
Exchange Privilege
9. Pending Legal
Proceedings Not Applicable
Part B
Item No. Statement of Additional
Information Caption
10. Cover Page Cover page
11. Table of Contents Contents
12. General Information
and History Distributor
Additional Information
13. Investment Objectives
and Policies Investment
Objectives
and Management Policies
14. Management of the Fund Management of the Trust
and the Funds
Distributor
15. Control Persons
and Principal Management
of the Trust
and the Funds Holders of Securities
16. Investment Advisory
and Other Services Management of the
Trust
and the Funds
Distributor
17. Brokerage Allocation Investment Objectives
and Management Policies
Distributor
18. Capital Stock
and Other Securities Investment
Objectives
and Management Policies
Purchase of Shares
Redemption of Shares
Taxes
19. Purchase, Redemption
and Pricing of Securities
being offered Purchase of Shares
Redemption of Securities
Shares
Valuation of Shares
Distributor
Exchange Privilege
20. Tax Status Taxes
21. Underwriters Distributor
22.Calculation of
Performance Data Performance Data
23. Financial Statements Financial Statements
Part A
SMITH BARNEY LARGE CAP BLEND FUND (the "Fund")
Supplement dated June 15, 1998 to the Prospectus
Dated May 29, 1998
The following information supplements, and to
the extent inconsistent therewith, supercedes the
information in the Prospectus under "Prospectus
Summary-Alternative Purchase Arrangements."
CLASS L SHARES. Class L
shares are sold at net asset
value plus an initial sales
charge of 1%. They are
subject to an annual service
fee of 0.25% and an annual
distribution fee of 0.75% of
the average daily net assets
of the Class. Investors pay a
CDSC of 1% if they redeem
Class L shares within 12
months of purchase.
The following information supplements, and to
the extent inconsistent therewith, supercedes the
information in the Prospectus under "Prospectus
Summary-The Fund's Expenses."
THE FUND'S EXPENSES The following expense table lists
the costs and expenses an investor will incur either
directly or indirectly as a shareholder of the Fund,
based on the maximum sales charge or maximum CDSC that
may be incurred at the time of purchase or redemption
and the Fund's operating expenses for its most recent
fiscal year:
Smith Barney
Large Cap Blend Fund
Class Class Class Class Class
A B L*** O**** Y
Shareholder
Transaction
Expenses
Maximum sales
charge imposed
on purchases
(as a percentage
of offering
price) 5.00% None 1.00% 1.00% None
Maximum CDSC
(as a percentage
of original cost
or redemption
proceeds,
whichever
is lower) None* 5.00% 1.00% 1.00% None
Annual Fund
Operating
Expense
(as a
percentage
of average
net assets)
Management fees 0.65% 0.65% 0.65% 0.65% 0.65%
12b-1 fees** 0.25 0.75 1.00 0.70 None
Other expenses 0.19 0.16 0.17 0.17 0.04
TOTAL FUND
OPERATING
EXPENSES 1.09% 1.59% 1.76% 1.57% 0.69%
? Purchase of Class A shares of $500,000 or more will
be made at net asset value with no sales charge,
but will be subject to a CDSC of 1.00% on
redemptions made within 12 months of purchase.
** Upon conversion of Class B shares to Class A
shares, such shares will no longer be subject to a
distribution fee. Class L and Class O shares do
not have a conversion feature and, therefore, are
subject to an ongoing distribution fee. As a
result, long-term shareholders of Class L and Class
O shares may pay more than the economic equivalent
of the maximum front-end sales charge permitted by
the National Association of Securities Dealers,
Inc.
*** Class L shares "Other Expenses" have been
estimated because no Class L shares were
outstanding during the fiscal year ended December
31, 1997
****Class O shares were formerly designated Class C
Shares. Class O shares are available to purchase
only by former Class C shareholders. Purchasers of
Class O shares will be subject to a 1% sales charge
after June 25, 1999.
EXAMPLE
The following example is intended to assist an
investor in understanding the various costs that an
investor in the Fund will bear directly or indirectly.
The example assumes payment by the Fund of operating
expenses at the levels set forth in the table above.
See "Purchase of Shares," "Redemption of Shares" and
"Management of the Fund."
Smith Barney
Large Cap Blend Fund
An investor would pay the following expenses on a
$1,000 investment, assuming (1) 5.00% annual return
and (2) redemption at the end of each time period:
1 3 5 10
Year Years Years Years*
Class A $61 $83 $107 $176
Class B 66 80 97 175
Class L 28 55 95 207
Class O 26 50 86 187
Class Y 7 22 38 86
An investor would pay the following expenses on the
same investment, assuming the same annual return and
no redemption:
Class A $61 $83 $107 $176
Class B 16 50 87 175
Class L 18 55 95 207
Class O 16 50 86 187
Class Y 7 22 38 86
? Ten-year figures assume conversion of Class B
shares to Class A shares at the end of the eighth
year following the date of purchase.
The example also provides a means for the
investor to compare expense levels of funds with
different fee structures over varying investment
periods. To facilitate such comparison, all funds are
required to utilize a 5.00% annual return assumption.
However, the Fund's actual return will vary and may be
greater or less than 5.00%. This example should not
be considered a representation of past or future
expenses and actual expenses may be greater or less
than those shown.
The following information supplements, and to
the extent inconsistent therewith, supercedes the
information in the Prospectus under "Exchange
Privilege."
Class L and Class O shares may
be exchanged with Class L
shares of other Smith Barney
Mutual Funds.
The following information supplements, and to
the extent inconsistent therewith, supercedes the
information in the Prospectus under "Additional
Information."
Class L shares are subject to
the same terms and conditions
as other classes of the Fund
as outlined in the Prospectus.
The Prospectuses filed on May 28, 1998 with Post-
Effective Amendment
No. 44 to the Fund's Registration Statement on form N-
1A (Accession No.
0000091155-98-000358) is incorporated by reference in
its entirety.
Part B
The Statement of Additional Information filed on May
28, 1998 with
Post-Effective Amendment No. 44 to the Fund's
Registration Statement
on form N-1A (Accession No. 0000091155-98-000358) is
incorporated
by reference in its entirety.
Part C
Item 24. Financial Statements and Exhibits
(a) Financial Statements:
Included in Part A:
Financial Highlights
Included in Part B:
The Registrant's Annual Reports for
the fiscal year ended January 31,
1998 and the Report of Independent
Accountants was filed pursuant to
Rule 30b-2 of the 1933 Act, on April
18, 1997 as accession number 91155-
98-000270.
Included in Part C:
(b) Exhibits
All references are to the Registrant's
registration statement on Form N-1A (the "Registration
Statement") as filed with the Securities and Exchange
Commission (the "SEC") on January 9, 1986 (File Nos.
33-2627 and 811-4551).
(1)(a) Amended and Restated Master Trust
Agreement and all Amendments are incorporated by
reference to Post-Effective Amendment No. 26 to
the
Registration Statement filed on January 31, 1994
("Post-Effective Amendment No. 26").
(b) Amendment dated October 14, 1994 and
Form of Amendment to Amended and Restated Master
Trust
Agreement are incorporated by reference to Post-
Effective Amendment No. 29 to the Registration
Statement filed on November 7, 1994 ("Post-
Effective
Amendment No. 29").
(2) Registrant's By-Laws are incorporated by
reference to Pre-Effective Amendment No. 1 to
the
Registration Statement filed on February 25,
1986
("Pre-Effective Amendment No. 1").
(3) Not applicable.
(4) Form of share certificate for Class A, B,
C and Y shares will be filed by amendment.
(5)(a) Investment Advisory Agreement
between Registrant and Smith Barney Strategy
Advisers
Inc., with respect to Concert Social Awareness
Fund,
is incorporated by reference to Post-Effective
Amendment No. 31 to the Registration Statement
filed
on January 30, 1996 ("Post-Effective Amendment
No.
31").
(b) Investment Advisory Agreement
between Registrant and Greenwich Street Advisors
(relating to the Growth and Income Fund) dated
May 22,
1993 is incorporated by reference to Post-
Effective
Amendment No. 26.
(6) Distribution Agreement between Registrant
and Smith Barney Shearson dated July 30, 1993 is
incorporated by reference to Post-Effective
Amendment
No. 26.
(7) Not applicable.
(8) Custodian Agreement between Registrant and
PNC Bank, National Association ("PNC Bank") is
ncorporated by reference to Post-Effective
Amendment
No. 31.
(9)(a) Administration Agreements between
Registrant and SBMFM (relating to the Growth and
Income Fund and Strategic Investors Fund) dated
May 4,
1994 are incorporated by reference to Post-
Effective Amendment No. 29
(b) Transfer Agency Agreement between
Registrant and First Data Investor Services
Group
(formerly The Shareholder Services Group, Inc.)
dated
August 5, 1993 is incorporated by reference to
Post-
Effective Amendment No. 26.
(10) Opinion of Robert A. Vegliante, Deputy General
Counsel of Smith Barney Mutual Funds Management
Inc.
filed with the Registrant's rule 24-f2
(Accession No.
000091155-97-000182) is incorporated by
reference.
(11) Not applicable.
(12) Not applicable.
(13) Not Applicable
(14)(a) Prototype Defined Contribution Plan
relating to 401(k) program is incorporated by
reference to Post-Effective Amendment No. 33.
(b) Form of Individual Retirement
Account Disclosure Statement is incorporated by
reference to Post-Effective Amendment No. 33.
(15) Amended Services and Distribution Plans
pursuant to Rule 12b-1 between the Registrant on
behalf of Smith Barney Growth and Income Fund
and
Concert Social Awareness Fund are incorporated
by
reference to Post-Effective Amendment No. 29.
(16) Performance information is incorporated by
reference to Post-Effective Amendments No. 9 and
10.
(17) Financial Data Schedule filed herewith.
(18) Plan pursuant to Rule 18f-3 is
incorporated by reference to Post-Effective
Amendment
No. 31.
Item 25 Persons Controlled by or Under
Common Control with Registrant
None.
Item 26 Number of Holders of Securities
Number of
Record Holders by Class
Title of Class as of May 18,1998
Beneficial Interest par value
$.001 per share
Class A
Class B
Class C
Class Y
Concert Social
Awareness Fund
17,508
13,103
666
3
Smith Barney
Large Cap Blend Fund
11,569
10,910
448
7
Item 27 Indemnification
The response to this item is incorporated by reference
to Registrant's Pre-Effective Amendment No. 1 to the
Registration Statement.
Item 28(a) Business and Other Connections of
Investment Adviser
Investment Adviser - - Mutual Management Corp ("MMC")
MMC, formerly known as Smith Barney Mutual Funds
Management Inc., was incorporated in December 1968
under the laws of the State of Delaware. MMC is a
wholly
owned subsidiary of Salomon Smith Barney Holdings Inc
("Holdings") (formerly known as Smith Barney Holdings
Inc.), which in turn is a wholly owned subsidiary of
Travelers Group Inc. (formerly known as Primerica
Corporation) ("Travelers"). MMC is registered as an
investment adviser under the Investment Advisers Act
of 1940 (the "Advisers Act").
The list required by this Item 28 of officers and
directors of SBMFM together with information as to any
other business, profession, vocation or employment of
a substantial nature engaged in by such officers and
directors during the past two fiscal years, is
incorporated by reference to Schedules A and D of FORM
ADV filed by SBMFM pursuant to the Advisers Act (SEC
File No. 801-8314).
Item 29. Principal Underwriters
(a) Smith Barney Inc. ("Smith Barney ") acts as
principal underwriter for
Concert Investment Series
Consulting Group Capital Markets Funds
Global Horizons Investment Series (Cayman Islands)
Greenwich Street California Municipal Fund Inc.
Greenwich Street Municipal Fund Inc.
Greenwich Street Series Fund
High Income Opportunity Fund Inc.
The Italy Fund Inc.
Managed High Income Portfolio Inc.
Managed Municipals Portfolio II Inc.
Managed Municipals Portfolio Inc.
Municipal High Income Fund Inc.
Puerto Rico Daily Liquidity Fund Inc.
Smith Barney Adjustable Rate Government Income Fund
Smith Barney Aggressive Growth Fund Inc.
Smith Barney Appreciation Fund Inc.
Smith Barney Arizona Municipals Fund Inc.
Smith Barney California Municipals Fund Inc.
Smith Barney Concert Allocation Series Inc.
Smith Barney Equity Funds
Smith Barney Fundamental Value Fund Inc.
Smith Barney Funds, Inc.
Smith Barney Income Funds
Smith Barney Institutional Cash Management Fund, Inc.
Smith Barney Intermediate Municipal Fund, Inc.
Smith Barney Investment Funds Inc.
Smith Barney Investment Trust
Smith Barney Managed Governments Fund Inc.
Smith Barney Managed Municipals Fund Inc.
Smith Barney Massachusetts Municipals Fund
Smith Barney Money Funds, Inc.
Smith Barney Muni Funds
Smith Barney Municipal Fund, Inc.
Smith Barney Municipal Money Market Fund, Inc.
Smith Barney Natural Resources Fund Inc.
Smith Barney New Jersey Municipals Fund Inc.
Smith Barney Oregon Municipals Fund Inc.
Smith Barney Principal Return Fund
Smith Barney Small Cap Blend Fund, Inc.
Smith Barney Telecommunications Trust
Smith Barney Variable Account Funds
Smith Barney World Funds, Inc.
Smith Barney Worldwide Special Fund N.V. (Netherlands
Antilles)
Travelers Series Fund Inc.
The USA High Yield Fund N.V.(Netherlands Antilles)
Worldwide Securities Limited (Bermuda)
Zenix Income Fund Inc. and various series of unit
investment trusts.
Smith Barney is a wholly owned subsidiary of Holdings.
On June 1, 1994, Smith Barney changed its name from
Smith Barney Shearson Inc. to its current name. The
information required by this Item 29 with respect to
each director, officer and partner of Smith Barney is
incorporated by reference to Schedule A of FORM BD
filed by Smith Barney pursuant to the Securities
Exchange Act of 1934 (SEC File No. 812-8510).
Item 30 . Location of Accounts and Records
(1) Smith Barney Inc.
388 Greenwich Street
New York, New York 10013
(2) Smith Barney Equity Funds
388 Greenwich Street
New York, New York 10013
(3) Mutual Management Corp.
388 Greenwich Street
New York, New York 10013
(4) Smith Barney Strategy Advisers Inc.
388 Greenwich Street
New York, New York 10013
(5) PNC Bank, National Association
17th and Chestnut Streets
Philadelphia, PA 19103
(6) First Data Investor Services Group
One Exchange Place
Boston, Massachusetts 02109
Item 31 Management Services
Not Applicable.
Item 32 Undertakings
(a) The Registrant hereby undertakes to call a
meeting of its shareholders for the
purpose of voting upon the question of
removal of a trustee or trustees of
Registrant when requested in to do so by
the holders of at least 10% of
Registrant's outstanding shares.
Registrant undertakes further, in
connection with the meeting, to comply
with the provisions of Section 16(c) of
the 1940 Act relating to communications
with the shareholders of certain common-
law trusts.
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, and the Investment Company
Act of 1940, as amended, the Registrant, SMITH BARNEY
EQUITY FUNDS, has duly caused this Amendment to the
Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, all in the
City of New York, State of New York on the 9th day of
June, 1998.
SMITH BARNEY EQUITY FUNDS
By: /s/ Heath B. McLendon*
Heath B. McLendon,
Chairman of the Board
Pursuant to the requirements of the Securities
Act of 1933, as amended, this Post-Effective Amendment
to the Registration Statement has been signed below by
the following persons in the capacities and on the
dates indicated.
Signature Title Date
/s/ Heath B. McLendon Chairman of
Heath B. McLendon the Board 6/9/98
Chief Executive
Officer
/s/ Lewis E. Daidone Senior Vice
Lewis E. Daidone President and 6/9/98
Treasurer
Chief Financial
and Accounting Officer
/s/ Lee Abraham* Trustee 6/9/98
Lee Abraham
/s/ Allan J. Bloostein* Trustee
6/9/98
Allan J. Bloostein
/s/ Richard E. Hanson* Trustee
6/9/98
Richard E. Hanson
* Signed by Heath B. McLendon, their duly authorized
attorney-in-fact, pursuant to power of attorney dated
October 27, 1992.
/s/ Heath B. McLendon
Heath B McLendon
EXHIBITS
Description of Exhibits
Cover Letter to SEC
Financial Data Schedule
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> SMITH BARNEY EQUITY FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> SMITH BARNEY EQUITY FUNDS
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<NAME> CONCERT SOCIAL AWARENESS FUND, CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> SMITH BARNEY EQUITY FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> SMITH BARNEY EQUITY FUNDS
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<NAME> SMITH BARNEY EQUITY FUNDS
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