1933 Act File No. 33-3165
1940 Act File No. 811-4579
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre-Effective Amendment No. ..........
Post-Effective Amendment No. 36 ............
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 36 ...........................
Blanchard Funds
(Exact Name of Registrant as Specified in Charter)
Federated Investors Tower, Pittsburgh, Pennsylvania 15222-3779
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
John W. McGonigle, Esquire,
Federated Investors Tower,
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
It is proposed that this filing will become effective:
immediately upon filing pursuant to paragraph (b)
X on August 26, 1996 pursuant to paragraph (b)
60 days after filing pursuant to paragraph (a) (i)
on pursuant to paragraph (a) (i).
75 days after filing pursuant to paragraph (a)(ii)
on pursuant to paragraph (a)(ii) of Rule 485.
-----------------
If appropriate, check the following box:
X This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
Registrant has filed with the Securities and Exchange Commission a declaration
pursuant to Rule 24f-2 under the Investment Company Act of 1940, and:
X filed the Notice required by that Rule on June 14, 1996; or
intends to file the Notice required by that Rule on or about ;
------------
or
during the most recent fiscal year did not sell any securities pursuant to
Rule 24f-2 under the Investment Company Act of 1940, and, pursuant to
Rule 24f-2(b)(2), need not file the Notice.
Copies To:
Matthew G. Maloney, Esquire
Dickstein, Shapiro & Morin, L.L.P.
2101 L Street, N.W.
Washington, D.C. 20037
CROSS REFERENCE SHEET
This Amendment to the Registration Statement of Blanchard Funds, which consists
of seven investment portfolios: (1) Blanchard Asset Allocation Fund; (2)
Blanchard Capital Growth Fund; (3) Blanchard Flexible Income Fund; (4) Blanchard
Flexible Tax-Free Bond Fund; (5) Blanchard Global Growth Fund; (6) Blanchard
Growth & Income Fund; and (7) Blanchard Short-Term Flexible Income Fund; relates
only to Blanchard Global Growth Fund; Blanchard Flexible Income Fund; Blanchard
Short-Term Flexible Income Fund; and Blanchard Flexible Tax-Free Bond Fund, and
is comprised of the following:
Part A. INFORMATION REQUIRED IN A PROSPECTUS.
Prospectus Heading
(Rule 404(c) Cross Reference)
Item 1. (1-7) Cover Page.
Item 2. (1-7) Fee Table, Summary of Fund Expenses.
Item 3. (1-7) Highlights.
Item 4. (1-7) Investment Objectives and Policies; Additional
Information about the Funds and Portfolios; Additional
Information on Investment Policies and Techniques;
(1-7) General Information; Investment Information;
Investment Objective; Investment Policies; Additional Risk
Considerations; Investment Risks Associated with Investment in
Equity and Debt Securities.
Item 5. (1-7) Management of the Funds; Portfolio Advisory Services.
(1-7) Blanchard Funds Information; Management of the Fund;
Distribution of Fund Shares; Administration of the Fund.
(1-7) Transfer Agent and Dividend Disbursing Agent
Item 5 A. (1-7) Performance of the Portfolio Adviser; Performance
Computation Information.
(1-7) Not Applicable
Item 6. (1-7) Additional Information about the Funds and the
Portfolios; Other Information; Cover Page; Shareholder
Inquiries; Tax Matters.
(1-7) Expenses of the Fund; General Information;
Shareholder Information; Voting Rights; Massachusetts
Partnership Law; Tax Information; Federal Income Tax.
Item 7. (1-7) How to Invest; Investor Services; How to Invest;
Distribution of Shares of the Funds.
(1-7) Net Asset Value; How to Invest; Purchases by Mail;
Investors Services; Automatic Withdrawal Plan.
Item 8. (1-7) How to Redeem; By Telephone; By Mail.
Item 9. (1-7) Not Applicable
Part B. INFORMATION REQUIRED IN A STATEMENT OF ADDITIONAL INFORMATION
Item 10. (1-7) Cover Page.
Item 11. (1-7) Table of Contents.
Item 12. (1-7) Not Applicable
Item 13. (1-7) Investment Objective; Policies and
Restrictions;
Portfolio Transactions.
(1-7) General Information About the Fund; Investment
Objectives and Policies; Investment Limitations.
Item 14. (1-7) The Management of the Fund.
(1-7) Blanchard Funds Management; Trustee
Compensation.
Item 15. (1-7) Not Applicable
(1-7) Share Ownership.
Item 16. (1-7) Investment Advisory Services; Investment
Advisory Services; Cover Page; See Prospectus.
(1-7) Investment Advisory Services; Administrative
Services; Custodian.
Item 17. (1-7) Portfolio Transactions.
(1-7) Brokerage Transactions.
Item 18. (1-7) See Prospectus.
Item 19. (1-7) See Prospectus; Computation of Net Asset Value.
(1-7) Purchasing Shares; Determining Net Asset Value;
Redeeming Shares; Redemption in Kind.
Item 20. (1-7) Tax Matters.
(1-7) Tax Status.
Item 21. (1-7) Not Applicable
Item 22. (1-7) Performance Information.
(1-7) Total Return; Yield; Performance Comparisons.
Item 23. (1-7) Not Applicable
Incorporate by reference pursuant to Rule 411 under the
Securities Act of 1933, Parts A and B, filed as Post-Effective
Amendment No. 25, filed June 21, 1996, in their entirety (File
Nos. 33-3165 and 811-4579).
PART C. OTHER INFORMATION
ITEM 24. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements. (1-7) To be filed by amendment.
(2,6)Audited Financial Statements
for the fiscal year ended October
31, 1995 are incorporated herein by
reference to the Annual Report of
Shareholders dated December 31,
1995.
(b) Exhibits
1. (a) Declaration of Trust of Registrant.(1)
(b) Amendment of Declaration of Trust.(7)
2. By-laws of Registrant.(1)
3. Not Applicable
4. Specimen certificate for shares of
beneficial interest of Registrant.(2)
5. (i) Form of Management Contract between
Registrant, on behalf of each of the
series, and Virtus Capital Management,
Inc.(19)
(ii) The Registrant incorporates the Forms of
Sub-Advisory Agreements for Global
(formerly Strategic) Growth Fund,
Worldwide Emerging Markets Fund, Short-
Term Global Income Fund, American Equity
(formerly Worldwide Bond) Fund, Flexible
Income Fund, Short-Term Bond Fund,
Flexible Tax-Free Bond Fund, and Global
Growth Fund between Virtus Capital
Management, Inc., and Rose & Ehrman,
Investment Advisors, Inc. and Fiduciary
International, Inc.; OFFITBANK; Lombard
Odier International Portfolio Management
Limited; Provident Investment Counsel,
Inc.; OFFITBANK; OFFITBANK; U.S. Trust
Company of New York; Martin Currie Inc.;
and Martin Currie Inc. from Item
5(b)(x)(a)-xviii) of the Blanchard Funds
Registration Statement filed with the
Commission on August 7, 1995. (File Number
33-3165 and 811-4579).
(iii) The Registrant incorporates the Form of
Global Asset Allocation Agreement between
Virtus Capital Management, Inc. and
Fiduciary International, Inc. for Global
(formerly Strategic) Growth Fund from Item
5(b)(x)(b) of the Blanchard Funds
Registration Statement filed with the
Commission on August 7, 1995. (File Number
33-3165 and 811-4579).
(iv) The Registrant incorporates the Form of
Sub-Advisory Agreement between Lombard
Odier International Portfolio Management
Limited and WLO Global Management for
Short-Term Global Income Fund from Item
5(b)(xix) of the Blanchard Funds
Registration Statement filed with the
Commission on August 7, 1995. (File Number
33-3165 and 811-4579).
6. (i) Conformed copy of Distributor's Contract
between Registrant, on behalf of each of
the series, and Federated Securities
Corp.(19)
7. Not Applicable.
8. (i) Form of Custodian Contract between
Registrant, on behalf of each series and
Signet Trust Company.(17)
(ii) Form of Agreement for Fund Accounting,
Shareholder Recordkeeping and Custody
Services Procurement between Registrant,
on behalf of each series and Federated
Services Company.(17)
9. (i) Conformed copy of Administrative Services
Agreement between Registrant, on behalf of
each series, and Federated Administrative
Services.(19)
(ii) Form of Transfer Agency and Fund
Accounting and Pricing Services Agreements
for Growth & Income Fund.(18)
10. None.
11. Conformed copy of consent of Price
Waterhouse LLP.(20)
12. Not applicable.
13. Agreement re: initial $100,000 capital.(3)
14. Copies of model tax-sheltered retirement
plans.(3)
15. (i) Conformed copy of Distribution Plan.(19)
(ii) Copy of 12b-1 Agreement.(19)
16.(i) Schedule of Performance Quotations for
Global (formerly Strategic) Growth Fund
series and for Blanchard 100% Treasury
(formerly Government) Money Market Fund
series.(5)
(ii) Schedule of Performance Quotations for
Short-Term Global Income Fund series(6)
(iii) Schedule of Performance Quotations for
American Equity (formerly Worldwide
Bond) Fund series(9)
(iv) Schedule of Performance Quotations for
Flexible Income Fund series.(10)
(v) Schedule of Performance Quotations for
Short-Term Bond Fund series.(11)
(vi) Schedule of Performance Quotations for
Flexible Tax-Free Bond Fund series.(12)
(vii) Schedule of Performance Quotations for
Emerging Markets Fund (formerly Blanchard
Asset Manager or Blanchard Asset
Allocation Fund) series.(12)
(viii) Forms of computation of performance
quotations for Growth & Income and Capital
Growth series.(18)
17. Copy of Financial Data Schedules.(21)
18. Not applicable.
19. Conformed Copy of Power of Attorney.(19)
+ All Exhibits Have been filed electronically.
1 Previously filed on February 5, 1986 in the Registrant's Registration
Statement.
2 Previously filed on March 28, 1986 in Pre-Effective Amendment No. I to
the Registrant's Registration Statement.
3 Previously filed on April 23, 1986 in Pre-Effective Amendment No. 2 to
the Registrant's Registration Statement.
5 Previously filed on July 3, 1990 in Post-Effective Amendment No. 6 to
the Registrant's Registration Statement.
6 Previously filed on November 2, 1990 in Post-Effective Amendment No. 7
to the Registrant's Registration Statement.
7 Previously filed on December 21, 1990 in Post-Effective Amendment No.
8 to the Registrant's Registration Statement.
9 Previously filed on June 8, 1992 in Post-Effective Amendment No. 13 to
the Registrant's Registration Statement.
10 Previously filed on September 3, 1992 in Post-Effective Amendment No.
15 to the Registrant's Registration Statement.
11 Previously filed on February 5, 1993 in Post-Effective Amendment No.
16 to the Registrant's Registration Statement.
12 Previously filed on May 25, 1993 in Post-Effective Amendment No. 17 to
the Registrant's Registration Statement.
17 To be filed by amendment.
18 Previously filed on August 7, 1995 in Post-Effective Amendment No. 29
to the Registrant's Registration Statement.
19 Previously filed on October 17, 1995 in Post-Effective Amendment No.
31 to the Registrant's Registration Statement.
20 Previously filed on February 27, 1996 in Post-Effective Amendment No.
33 to the Registrant's Registration Statement.
21 Previously filed on June 21, 1996 in Post-Effective Amendment No. 25
to the Registrant's Registration Statement.
ITEM 25. Persons Controlled By or Under Common Control with Registrant
See "The Manager and Management Agreement" in the Prospectus and
Statement of Additional Information.
ITEM 26. Number of Holders or Securities
Number of Record Holders
Title of Class as of June 13, 1996
BCGF 283
BG&IF 1,945
BAAF 3
BFTFBF 2,173
BSTFIF 16,742
BFIF 37,375
BGGF 14,966
ITEM 27. Indemnification (20)
ITEM 28. Business and Other Connections or Investment Adviser
For a description of the other business of Virtus Capital
Management, Inc. see "Management of the Funds" in Part A. The officers of
Virtus Capital Management, Inc. are:
Gary M. Allen President and Chief Investment Officer,
Director VCM, since March 1995; Senior
Vice President STC (March 1994
to March 1995); Managing
Director of U.S. Equities
(November 1990 to March 1994)
and Director, Internal Asset
Management (June 1985 to
November 1990) of the Virginia
Retirement System.
E. Christian Goetz Senior Vice President Director of Fixed Income,
and Director VCM, since March 1995; Portfolio
Manager STC (November 1990 to
March 1995).
Tanya Orr Bird Vice President and Director of Client Services,
Director VCM, since March 1995; Vice
President of Client Services,
STC (October 1994 to March
1995); Consultant, William M.
Mercer Asset Planning Inc., 1989
to October 1994.
Kevin M. Lewis Vice President and Senior Equity Manager, VCM,
Director since March 1995; Equity
Manager, STC, from 1987 to March
1995.
ITEM 29. Principal Underwriters
(a) Federated Securities Corp., the Distributor for shares of
the Registrant, also acts as principal underwriter for the following
open-end investment companies: 111 Corcoran Funds; Annuity Management
Series; Arrow Funds; Automated Government Money Trust; BayFunds; Blanchard
Funds; Blanchard Precious Metals Fund, Inc.; Cash Trust Series II; Cash
Trust Series, Inc.; DG Investor Series; Edward D. Jones & Co. Daily
Passport Cash Trust; Federated Adjustable Rate U.S. Government Fund, Inc.;
Federated American Leaders Fund, Inc.; Federated ARMs Fund; Federated
Equity Funds; Federated Equity Income Fund, Inc.; Federated Fund for U.S.
Government Securities, Inc.; Federated GNMA Trust; Federated Government
Income Securities, Inc.; Federated Government Trust; Federated High Income
Bond Fund, Inc.; Federated High Yield Trust; Federated Income Securities
Trust; Federated Income Trust; Federated Index Trust; Federated
Institutional Trust; Federated Insurance Series; Federated Master Trust;
Federated Municipal Opportunities Fund, Inc.; Federated Municipal
Securities Fund, Inc.; Federated Municipal Trust; Federated Short-Term
Municipal Trust; Federated Short-Term U.S. Government Trust; Federated
Stock and Bond Fund, Inc.; Federated Stock Trust; Federated Tax-Free Trust;
Federated Total Return Series, Inc.; Federated U.S. Government Bond Fund;
Federated U.S. Government Securities Fund: 1-3 Years; Federated U.S.
Government Securities Fund: 2-5 Years; Federated U.S. Government Securities
Fund: 5-10 Years; Federated Utility Fund, Inc.; First Priority Funds; Fixed
Income Securities, Inc.; Fortress Utility Fund, Inc.; High Yield Cash
Trust; Independence One Mutual Funds; Intermediate Municipal Trust;
International Series, Inc.; Investment Series Funds, Inc.; Investment
Series Trust; Liberty U.S. Government Money Market Trust; Liquid Cash
Trust; Managed Series Trust; Marshall Funds, Inc.; Money Market Management,
Inc.; Money Market Obligations Trust; Money Market Trust; Municipal
Securities Income Trust; Newpoint Funds; Peachtree Funds; RIMCO Monument
Funds; SouthTrust Vulcan Funds; Star Funds; Targeted Duration Trust; Tax-
Free Instruments Trust; The Biltmore Funds; The Biltmore Municipal Funds;
The Monitor Funds; The Planters Funds; The Starburst Funds; The Starburst
Funds II; The Virtus Funds; Tower Mutual Funds; Trust for Financial
Institutions; Trust for Government Cash Reserves; Trust for Short-Term U.S.
Government Securities; Trust for U.S. Treasury Obligations; Vision Group of
Funds, Inc.; and World Investment Series, Inc.
Federated Securities Corp. also acts as principal underwriter for the
following closed-end investment company: Liberty Term Trust, Inc. - 1999.
(b)
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address With Underwriter With Registrant
Richard B. Fisher Director, Chairman, Chief Vice President
Federated Investors Tower Executive Officer, Chief
Pittsburgh, PA 15222-3779 Operating Officer, Asst.
Secretary, and Asst.
Treasurer, Federated
Securities Corp.
Edward C. Gonzales Director, Executive ViceExecutive Vice
Federated Investors Tower President, Federated, President
Pittsburgh, PA 15222-3779 Securities Corp.
John W. McGonigle Director, Federated Executive Vice
Federated Investors Tower Securities Corp. President,Secretary
Pittsburgh, PA 15222-3779 and Treasurer
John B. Fisher President-Institutional Sales, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
James F. Getz President-Broker/Dealer, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Mark R. Gensheimer Executive Vice President of --
Federated Investors Tower Bank/Trust, Federated
Pittsburgh, PA 15222-3779 Securities Corp.
Mark W. Bloss Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Richard W. Boyd Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Theodore Fadool, Jr. Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Bryant R. Fisher Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Christopher T. Fives Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
James S. Hamilton Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
James M. Heaton Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address With Underwriter With Registrant
Keith Nixon Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Solon A. Person, IV Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Timothy C. Pillion Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Thomas E. Territ Senior Vice President, --
Federated Investors Tower Federated Securities Corp
Pittsburgh, PA 15222-3779
John B. Bohnet Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Byron F. Bowman Vice President, Secretary, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Jane E. Broeren-Lambesis Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Mary J. Combs Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
R. Edmond Connell, Jr. Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Kevin J. Crenny Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Daniel T. Culbertson Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
G. Michael Cullen Vice President, --
Federated Investors Tower Federated Securites Corp.
Pittsburgh, PA 15222-3779
Laura M. Deger Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Jill Ehrenfeld Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Mark D. Fisher Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address With Underwriter With Registrant
Michael D. Fitzgerald Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Joseph D. Gibbons Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Craig S. Gonzales Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Richard C. Gonzales Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Scott A. Hutton Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
H. Joeseph Kenedy Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
William E. Kugler Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Steven A. La Versa Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Mark J. Miehl Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Richard C. Mihm Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
J. Michael Miller Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Michael P. O'Brien Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Robert D. Oehlschlager Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Robert F. Phillips Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address With Underwriter With Registrant
Eugene B. Reed Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Paul V. Riordan Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
John C. Shelar, Jr. Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
David W. Spears Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Jeffrey A. Stewart Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Jamie M. Teschner Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
William C. Tustin Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Paul A. Uhlman Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Richard B. Watts Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Michael P. Wolff Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Charlene H. Jennings Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
J. Timothy Radcliff Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Denis McAuley Treasurer, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
Thomas R. Donahue Asstistant Secretary, --
Federated Investors Tower Assistant Treasurer,
Pittsburgh, PA 15222-3779 Federated Securities Corp.
Joseph M. Huber Assistant Secretary, --
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address With Underwriter With Registrant
David M. Taylor Assistant Secretary,
Federated Investors Tower Federated Securities Corp.
Pittsburgh, PA 15222-3779
(c) not applicable
ITEM 30. Location of Accounts and Records
The accounts and records required to be maintained by Section 31(a) of
the Investment Company Act of 1940 and Rules 31a-1 through 31a-3
promulgated thereunder are maintained at one of the following locations:
Blanchard Funds Federated Investors Tower
Pittsburgh, PA
Federated Shareholder Services P.O. Box 8600
Company (Transfer Agent,Dividend Boston, MA
Disbursing Agent and
Portfolio Recordkeeper)
Federated Administrative Federated Investors Tower
Services (Administrator) Pittsburgh, PA
Virtus Capital Management, Inc. 707 East Main Street
(Adviser) Suite 1300
Richmond, VA
Signet Trust Company 7 North Eighth Street
(Custodian) Richmond, VA
ITEM 31. Management Services
Not applicable.
ITEM 32. Undertakings
Registrant hereby undertakes to comply with the provisions of
Section 16(c) of the 1940 Act with respect to the removal of Trustees and
the calling of special shareholder meetings by shareholders.
Registrant undertakes to furnish each person to whom a prospectus
is delivered a copy of the 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, BLANCHARD FUNDS, has duly
caused this Amendment to its Registration Statement to be signed on its
behalf by the undersigned, thereto duly authorized, in the City of
Pittsburgh and Commonwealth of Pennsylvania, on the 19st day of August,
1996.
BLANCHARD FUNDS
BY: /s/C. Grant Anderson
C. Grant Anderson, Assistant Secretary
Attorney in Fact for John F. Donahue
August 19, 1996
Pursuant to the requirements of the Securities Act of 1933, this
Amendment to its Registration Statement has been signed below by the
following person in the capacity and on the date indicated:
NAME TITLE DATE
By:/s/C. Grant Anderson
C. Grant Anderson Attorney In Fact August 19, 1996
ASSISTANT SECRETARY For the Persons
Listed Below
John F. Donahue* Chairman and Trustee
(Chief Executive Officer)
Edward C. Gonzales* President, Treasurer and
Trustee
(Principal Financial and
Accounting Officer)
Thomas G. Bigley* Trustee
John T. Conroy, Jr.* Trustee
William J. Copeland* Trustee
James E. Dowd* Trustee
Lawrence D. Ellis, M.D.* Trustee
Edward L. Flaherty, Jr.* Trustee
Peter E. Madden* Trustee
Gregor F. Meyer* Trustee
John E. Murray, Jr.* Trustee
Wesley W. Posvar* Trustee
Marjorie P. Smuts* Trustee
*By Power of Attorney
