1933 Act File No. 33-07404
1940 Act File No. 811-4760
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 X
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Pre-Effective Amendment No. ....................
Post-Effective Amendment No. 51 ..................... X
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and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 X
Amendment No. 51 ................................... X
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BT INVESTMENT FUNDS
(Exact Name of Registrant as Specified in Charter)
5800 Corporate Drive
Pittsburgh, Pennsylvania 15237-7010
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
Jay S. Neuman, Esquire Copies to: Burton M. Leibert, Esq.
Federated Investors Tower Willkie Farr & Gallagher
Pittsburgh, Pennsylvania 15222-3779 One Citicorp Center
(Name and Address of Agent for Service) 153 East 53rd Street
...... New York, New York 10022
It is proposed that this filing will become effective
(check appropriate box)
[ ] immediately upon filing pursuant to paragraph (b) [X] on AUGUST 5, 1998
pursuant to paragraph (b)(1) (iii) [ ] 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:
X This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
Asset Management Portfolio II and Asset Management Portfolio III (each a series
of BT Investment Portfolios) and Asset Management Portfolio have also executed
this Amendment to the Registration Statement.
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CROSS-REFERENCE SHEET
This Amendment to the Registration Statement of BT INVESTMENT FUNDS, which
is comprised of sixteen funds, relates only to Intermediate Bond Fund, and is
comprised of the following:
PART A......INFORMATION REQUIRED IN A PROSPECTUS.
PROSPECTUS HEADINg
(Rule 404(c) Cross Reference)
Item 1. Cover Page....................Cover Page.
Item 2. Synopsis......................Summary of Fund Expenses.
Item 3. Condensed Financial
Information...................Financial Highlights; Performance
Information and Reports.
Item 4. General Description of
Registrant....................The Funds; Who May Want to Invest;
Investment Objectives and Policies;
Risk Factors: Matching the Funds
to Your Investment Needs.
Item 5. Management of the Fund........Management of the Trust and
Portfolios.
Item 6. Capital Stock and Other
Securities Dividends, Distributions and Taxes.
Item 7. Purchase of Securities Being
Offered.......................Net Asset Value; Purchase and
Redemption of Shares.
Item 8. Redemption or Repurchase......Purchase and Redemption of Shares.
Item 9. Legal Proceedings None.
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PART B. INFORMATION REQUIRED IN A STATEMENT OF ADDITIONAL INFORMATION.
Item 10. Cover Page....................Cover Page.
Item 11. Table of Contents.............Table of Contents.
Item 12. General Information and
History.......................Organization of the Trust; Appendix.
Item 13. Investment Objectives and
Policies Investment Objectives and Policies.
Item 14. Management of the Fund........Management of the Trust and
Portfolios.
Item 15. Control Persons and Principal
Holders of Securities.........Management of the Trust and
Portfolios; Trustee Compensation.
Item 16. Investment Advisory and Other
Services Investment Adviser; Administrator.
Item 17. Brokerage Allocation..........Portfolio Transactions and Brokerage
Commissions.
Item 18. Capital Stock and Other
Securities Not Applicable.
Item 19. Purchase, Redemption and
Pricing of Securities Being
Offered.......................Purchase and Redemption Information.
Item 20. Tax Status....................Taxes.
Item 21. Underwriters Not applicable.
Item 22. Calculation of Performance
Data Performance Information.
Item 23. Financial Statements..........Incorporated by reference to the
Registrant's Annual Reports dated
March 31, 1998 (File Nos. 33-07404
and 811-4760).
PART C OTHER INFORMATION
ITEM 24. FINANCIAL STATEMENTS AND EXHIBITS:
(a) FINANCIAL STATEMENTS:
Incorporated by reference to the Registrant's Annual Reports
dated March 31, 1998 (File Nos. 33-07404 and 811-4760).
(b) EXHIBITS:
(1) (i) Conformed Copy of Declaration of Trust of the Trust; 9
(ii) Supplement to Declaration of Trust; 9
(iii) Second Supplement to Declaration of Trust; 9
(2) Copy of By-Laws of the Trust; 9
(3) Not applicable.
(4) Copy of Specimen stock certificates for shares of beneficial
interest of the Trust; 1
(5) Not applicable.
(6) Conformed Copy of Distributor's Contract; 10
(i) Schedule A of Exhibit A to the Distributor's Contract; 15
(ii)Schedule A of Exhibit B to the Distributor's Contract; 15
(7) Not applicable.
(8) Conformed Copy of Custodian Agreement between the Registrant and
Bankers Trust Company; 12
(i) Conformed Copy of Amendment #2 to Exhibit A of the Custodian
Agreement; 14
(ii)Conformed copy of Cash Services Addendum to Custodian
Agreement; (16)
(9) (i) Administration and Services Agreement; 6
(ii) Schedule of Fees under Administration and Services
Agreement; 7
(iii) Exhibit D to the Administration and Services Agreement; 12
(10) Not applicable.
(11) Conformed copy of Consent of Independent Public Accountants; (16)
- - -----------------------------------
+ All exhibits have been filed electronically.
1. Incorporated by reference to the Registrant's registration statement on
Form N-1A ("Registration Statement") as filed with the Securities and
Exchange Commission ("Commission") on October 24, 1986.
6. Incorporated by reference to Post-Effective Amendment No. 23 to
Registrant's Registration Statement as filed with the Commission on April
30, 1993.
7. Incorporated by reference to Post-Effective Amendment No. 29 to
Registrant's Registration Statement as filed with the Commission on
November 8, 1993.
9. Incorporated by reference to Post-Effective Amendment No. 34 to
Registrant's Registration Statement as filed with the Commission on July
31, 1995.
10. Incorporated by reference to Post-Effective Amendment No. 40 to
Registrant's Registration Statement as filed with the Commission on January
30, 1997.
12. Incorporated by reference to Post-Effective Amendment No. 44 to
Registrant's Registration Statement as filed with the Commission on July 1,
1997.
14. Incorporated by reference to Post-Effective Amendment No. 46 to
Registrant's Registration Statement as filed with the Commission on January
28, 1998.
15. Incorporated by reference to Post-Effective Amendment No. 49 to
Registrant's Registration Statement as filed with the Commission on April
30, 1998 16. Incorporated by reference to Post-Effective Amendment No. 50
to Registrant's Registration Statement as filed with the Commission on June
30, 1998
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(12) Not applicable. (13) Not applicable. (14) Not applicable.
(15) Conformed Copy of Plan of Distribution; 10
(16) Copy of Schedules for Computation of Performance Quotations; 2
(17) Copy of Financial Data Schedules; (16)
(18) Not applicable.
(19) Conformed Copy of Power of Attorney; 13
ITEM 25. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT:
Not applicable.
ITEM 26. NUMBER OF HOLDERS OF SECURITIES:
TITLE OF CLASS Number of Record Holders
AS OF APRIL 1, 1998
Tax Free Money Fund 144
NY Tax Free Money Fund 116
Cash Management Fund 246
Treasury Money Fund 695
Intermediate Tax Free Fund 79
Small Cap Fund 663
Pacific Basin Equity Fund 197
BT Investment Lifecycle Short Range Fund 50
BT Investment Lifecycle Mid Range Fund 41
BT Investment Lifecycle Long Range Fund 42
Latin American Equity Fund 329
International Equity Fund 9,455
Global High Yield Securities Fund 160
Capital Appreciation Fund 289
Global Emerging Markets Equity Fund 0
International Small Company Equity Fund 0
ITEM 27. INDEMNIFICATION; 11
2. Incorporated by reference to Post-Effective Amendment No. 14 to
Registrant's Registration Statement as filed with the Commission on
February 13, 1992.
10. Incorporated by reference to Post-Effective Amendment No. 40 to
Registrant's Registration Statement as filed with the Commission on January
30, 1997.
11. Incorporated by reference to Post-Effective Amendment No. 38 to
Registrant's Registration Statement as filed with the Commission on April
29, 1996.
13. Incorporated by reference to Post-Effective Amendment No. 45 to
Registrant's Registration Statement as filed with the Commission on
September 10, 1997.
16. Incorporated by reference to Post-Effective Amendment No. 50 to
Registrant's Registration Statement as filed with the Commission on June
30, 1998
<PAGE>
ITEM 28. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER:
Bankers Trust serves as investment adviser to each Fund's Portfolio.
Bankers Trust, a New York banking corporation, is a wholly owned
subsidiary of Bankers Trust New York Corporation. Bankers Trust
conducts a variety of commercial banking and trust activities and is
a major wholesale supplier of financial services to the international
institutional market. To the knowledge of the Trust, none of the
directors or officers of Bankers Trust, except those set forth below,
is or has been at anytime during the past two fiscal years engaged in
any other business, profession, vocation or employment of a
substantial nature, except that certain directors and officers also
hold various positions with and engage in business for Bankers Trust
New York Corporation. Set forth below are the names and principal
businesses of the directors and officers of Bankers Trust who are or
during the past two fiscal years have been engaged in any other
business, profession, vocation or employment of a substantial nature.
These persons may be contacted c/o Bankers Trust Company, 130 Liberty
Street, New York, New York 10006.
George B. Beitzel, International Business Machines Corporation, Old
Orchard Road, Armonk, NY 10504. Director, Bankers Trust Company;
Retired senior vice president and Director, International Business
machines Corporation; Director, Computer Task Group; Director,
Phillips Petroleum Company; Director, Caliber Systems, Inc.
(formerly, Roadway Services Inc.); Director, Rohm and Haas Company;
Director, TIG Holdings; Chairman emeritus of Amherst College; and
Chairman of the Colonial Willimsburg Foundation.
Richard H. Daniel, Bankers Trust Company, 130 Liberty Street, New
York, New York 10006. Vice chairman and chief financial officer,
Bankers Trust Company and Bankers Trust New York Corporation;
Beneficial owner, general partner, Daniel Brothers, Daniel Lingo &
Assoc., Daniel Pelt & Assoc.; Beneficial owner, Rhea C. Daniel Trust.
Philip A. Griffiths, Bankers Trust Company, 130 Liberty Street, New
York, New York 10006. Director, Institute for Advanced Study;
Director, Bankers Trust Company; Chairman, Committee on Science,
Engineering and Public Policy of the National Academies of Sciences
and Engineering & the Institute of Medicine; and Chairman and member,
Nominations Committee and Committee on Science and Engineering
Indicators, National Science Board; Trustee, North Carolina School of
Science and Mathematics and the Woodward Academy.
William R. Howell, J.C. Penney Company, Inc., P.O. Box 10001,
Plano, TX 75301-0001. Chairman Emeritus, J.C. Penney Company, Inc.;
Director, Bankers Trust Company; Director, Exxon Corporation;
Director, Halliburton Company; Director, Warner-Lambert Corporation;
Director, The Williams Companies, Inc.; and Director, National
Retail Federation.
Vernon E. Jordan, Jr., Akin, Gump, Strauss, Hauer & Feld, LLP, 1333
New Hampshire Ave., N.W., Washington, DC 20036. Senior Partner, Akin,
Gump, Strauss, Hauer & Feld, LLP; Director, Bankers Trust Company;
Director, American Express Company; Director, Dow-Jones, Inc.;
Director, J.C. Penney Company, Inc.; Director, Revlon Group
Incorporated; Director, Ryder System, Inc.; Director, Sara Lee
Corporation; Director, Union Carbide Corporation; Director, Xerox
Corporation; Trustee, Brookings Institution; Trustee, The Ford
Foundation; and Trustee, Howard University.
David Marshall, 130 Liberty Street, New York, New York 10006. Chief
Information Officer and Executive Vice President, Bankers Trust New
York Corporation; Senior Managing Director, Bankers Trust Company.
Hamish Maxwell, Philip Morris Companies Inc., 120 Park Avenue, New
York, NY 10006. Retired Chairman and Chief Executive Officer, Philip
Morris Companies Inc.; Director, Bankers Trust Company; Director, The
News Corporation Limited; Director, Sola International Inc.; and
Chairman, WWP Group pic.
Frank N. Newman, Bankers Trust Company, 130 Liberty Street, New York,
New York 10006. Chairman of the Board, Chief Executive Officer and
President, Bankers Trust New York Corporation and Bankers Trust
Company; Director, Bankers Trust Company; Director, Dow-Jones, Inc.;
and Director, Carnegie Hall.
N.J. Nicholas Jr., 745 Fifth Avenue, New York, NY 10020. Director,
Bankers Trust Company; Director, Boston Scientific Corporation;
and Director, Xerox Corporation.
Russell E. Palmer, The Palmer Group, 3600 Market Street, Suite 530,
Philadelphia, PA 19104. Chairman and Chief Executive Officer of The
Palmer Group; Director, Bankers Trust Company; Director,
Allied-Signal Inc.; Director, Federal Home Loan Mortgage Corporation;
Director, GTE Corporation; Director, The May Department Stores
Company; Director, Safeguard Scientifics, Inc.; and Trustee,
University of Pennsylvania.
Donald L. Staheli, Bankers Trust Company, 130 Liberty Street, New
York, New York 10006. Chairman of the Board and Chief Executive
Officer, Continental Grain Company; Director, Bankers Trust Company;
Director, ContiFinancial Corporation; Director, Prudential Life
Insurance Company of America; Director, Fresenius Medical Care, A.g.;
Director, America-China Society; Director, National Committee on
United States-China Relations; Director, New York City Partnership;
Chairman, U.S.-China Business Council; Chairman, Council on Foreign
Relations; Chairman, National Advisor Council of Brigham Young
University's Marriott School of Management; Vice Chairman, The Points
of Light Foundation; and Trustee, American Graduate School of
International Management.
Patricia Carry Stewart, c/o Office of the Secretary, 130 Liberty
Street, New York, NY 10006. Director, Bankers Trust Company;
Director, CVS Corporation; Director, Community Foundation for Palm
Beach and Martin Counties; Trustee Emerita, Cornell University.
George J. Vojta, Bankers Trust Company, 130 Liberty Street, New York,
NY 10006. Vice Chairman, Bankers Trust New York Corporation and
Bankers Trust Company; Director, bankers Trust Company; Director;
Alicorp S.A.; Director; Northwest Airlines; Director, Private Export
Funding Corp.; Director, New York State Banking Board; Director, St.
Lukes-Roosevelt Hospital Center; Partner, New York City Partnership;
and Chairman, Wharton Financial Services Center.
Paul A. Volcker, Bankers Trust Company, 130 Liberty Street, New York,
New York 10006. Director, Bankers Trust Company; Director, American
Stock Exchange; Director, Nestle S.A.; Director, Prudential Insurance
Company; Director, UAL Corporation; Chairman, Group of 30; North
American Chairman, Trilateral Commission; Co-Chairman, Bretton Woods
Committee; Co-Chairman, U.S./Hong Kong Economic Cooperation
Committee; Director, American Council on Germany; Director, Aspen
Institute; Director, Council on Foreign Relations; Director, The
Japan Society; and Trustee, The American Assembly.
Melvin A. Yellin, Bankers Trust Company, 130 Liberty Street, New
York, New York 10006. Senior Managing Director and General Counsel of
Bankers Trust New York Corporation and Bankers Trust Company;
Director, 1136 Tenants Corporation; and Director, ABA Securities
Association.
ITEM 29. PRINCIPAL UNDERWRITERS
(a) Edgewood Services, Inc. the Distributor for shares of the
Registrant, acts as principal underwriter for the following
open-end investment companies, including the Registrant: BT
Advisor Funds, BT Institutional Funds, BT Investment Funds, BT
Pyramid Mutual Funds, Deutsche Portfolios, Deutsche Funds,
Inc., Excelsior Funds, Excelsior Funds, Inc., (formerly, UST
Master Funds, Inc.), Excelsior Institutional Trust, Excelsior
Tax-Exempt Funds, Inc. (formerly, UST Master Tax-Exempt Funds,
Inc.), FTI Funds, FundManager Portfolios, Great Plains Funds,
Marketvest Funds, Marketvest Funds, Inc., Old Westbury Funds,
Inc., Robertsons Stephens Investment Trust, WesMark Funds and
WCT Funds.
(b)
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
BUSINESS ADDRESS WITH DISTRIBUTOR WITH REGISTRANT
Lawrence Caracciolo Director, President, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
Arthur L. Cherry Director, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
J. Christopher Donahue Director, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
Ronald M. Petnuch Vice President, President
5800 Corporate Drive Edgewood Services, Inc. and Treasurer
Pittsburgh, PA 15237-5829
Thomas P. Schmitt Vice President, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
Thomas P. Sholes Vice President, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
Ernest L. Linane Assistant Vice President, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
S. Elliott Cohan Secretary, Assistant
5800 Corporate Drive Edgewood Services, Inc. Secretary
Pittsburgh, PA 15237-5829
Thomas J. Ward Assistant Secretary, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
Kenneth W. Pegher, Jr. Treasurer, --
5800 Corporate Drive Edgewood Services, Inc.
Pittsburgh, PA 15237-5829
(c) Not Applicable.
ITEM 30. LOCATION OF ACCOUNTS AND RECORDS:
BT INVESTMENT FUNDS: Federated Investors Tower
(Registrant) Pittsburgh, PA 15222-3779
BANKERS TRUST COMPANY: 130 Liberty Street
(Investment Adviser, New York, NY 10006
Administrator, and
Custodian)
INVESTORS FIDUCIARY 127 West 10th Street,
TRUST COMPANY: Kansas City, MO 64105
(Transfer Agent and Dividend
Disbursing Agent)
EDGEWOOD SERVICES, INC.: 5800 Corporate Drive
(Distributor) Pittsburgh, PA 15237-5829
ITEM 31. MANAGEMENT SERVICES:
Not applicable.
ITEM 32. UNDERTAKINGS:
Registrant hereby undertakes to file a post-effective amendment,
using financial statements on behalf of Global High Yield Securities
Fund which need not be certified, within four to six months from the
effective date of Post-Effective Amendment No. 47.
The Registrant undertakes to furnish to each person to whom a
prospectus is delivered a copy of the Registrant's latest annual
report, with respect to the respective series of the Trust, to
shareholders upon request and without charge.
The Registrant undertakes to comply with Section 16(c) of the 1940
Act as though such provisions of the Act were applicable to the
Registrant except that the request referred to in the third full
paragraph thereof may only be made by shareholders who hold in the
aggregate at least 10% of the outstanding shares of the Registrant,
regardless of the net asset value or values of shares held by such
requesting shareholders.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, BT INVESTMENT FUNDS, certifies
that it meets all of the requirements for effectiveness of this Amendment to its
Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933
and 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 the Commonwealth of Pennsylvania on the 2nd day of July, 1998.
BT INVESTMENT FUNDS
By: /s/ Jay S. Neuman
Jay S. Neuman, Secretary
July 2, 1998
Pursuant to the requirements of the Securities Act of 1933, this Amendment
to its Registration Statement has been signed below by the following persons in
the capacity and on the date indicated:
NAME TITLE DATE
By: /s/ Jay S. Neuman Attorney in Fact July 2, 1998
Jay S. Neuman For the Persons
SECRETARY Listed Below
/s/ RONALD M. PETNUCH* President and Treasurer
Ronald M. Petnuch (Chief Executive Officer,
Principal Financial and
Accounting Officer)
/s/ S. LELAND DILL* Trustee
S. Leland Dill
/s/ KELVIN J. LANCASTER* Trustee
Kelvin J. Lancaster
/s/ PHILIP SAUNDERS, JR.* Trustee
Philip Saunders, Jr.
*By Power of Attorney
<PAGE>
SIGNATURES
BT INVESTMENT PORTFOLIOS has duly caused this Post Effective Amendment No.
51 to the Registration Statement on Form N-1A of BT Investment Funds to be
signed on their behalf by the undersigned, thereto duly authorized, in the City
of Pittsburgh and the Commonwealth of Pennsylvania on the 2nd day of July, 1998.
BT INVESTMENT PORTFOLIOS
By: /s/ Jay S. Neuman
Jay S. Neuman, Secretary
July 2, 1998
This Post Effective Amendment No. 51 to the Registration Statement of BT
Investment Funds has been signed below by the following persons in the
capacities indicated with respect to BT INVESTMENT PORTFOLIOS.
NAME TITLE DATE
By: /s/ Jay S. Neuman Attorney in Fact July 2, 1998
Jay S. Neuman For the Persons
SECRETARY Listed Below
/s/ RONALD M. PETNUCH* President and Treasurer
Ronald M. Petnuch (Chief Executive Officer,
Principal Financial and
Accounting Officer)
/s/ S. LELAND DILL* Trustee
S. Leland Dill
/s/ KELVIN J. LANCASTER* Trustee
Kelvin J. Lancaster
/s/ PHILIP SAUNDERS, JR.* Trustee
Philip Saunders, Jr.
*By Power of Attorney
