As filed via EDGAR with the Securities and Exchange Commission on August 7, 1996
File No. 811-5151
Registration No. 33-14196
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | |
Pre-Effective Amendment No. |_|
Post-Effective Amendment No. 37 |X|
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
Post-Effective Amendment No. 76 |X|
-------------------------------
MUTUAL FUND GROUP
(Exact Name of Registrant as Specified in Charter)
101 Park Avenue
New York, New York 10178
--------------------------------------------------
(Address of Principal Executive Office)
Registrant's Telephone Number, including Area Code: (212) 492-1600
George Martinez, Esq. Niall L. O'Toole, Esq. Gary S. Schpero, Esq.
BISYS Fund Services, Inc. Chase Manhattan Bank Simpson Thacher & Bartlett
3435 Stelzer Road 270 Park Avenue 425 Lexington Avenue
Columbus, Ohio 43219 New York, New York 10017 New York, New York 10017
- --------------------------------------------------------------------------------
(Name and Address of Agent for Service)
It is proposed that this filing will become effective:
|X| immediately upon filing pursuant to | | on ( ) pursuant to
paragraph (b) paragraph (b)
|_| 60 days after filing pursuant to |_| on ( ) pursuant to
paragraph (a)(1) paragraph (a)(1)
|_| 75 days after filing pursuant to |_| on ( ) pursuant to
paragraph (a)(2) paragraph (a)(2) rule 485.
If appropriate, check the following box:
|_| this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
------------------
The Registrant has registered an indefinite number or amount of its shares of
common stock for each of its series under the Securities Act of 1933 pursuant to
Rule 24f-2 under the Investment Company Act of 1940 on July 18, 1994 and
Registrant's Rule 24f-2 Notice was filed on November 27, 1995.
The Trustees of the Hub Portfolios have also executed this registration
statement.
<PAGE>
MUTUAL FUND GROUP
Registration Statement on Form N-1A
CROSS-REFERENCE SHEET
Pursuant to Rule 495(a) Under the Securities Act of 1933
VISTA(SM) U.S. TREASURY INCOME FUND
VISTA(SM) BALANCED FUND
VISTA(SM) EQUITY INCOME FUND
VISTA(SM) GROWTH AND INCOME FUND
VISTA(SM) CAPITAL GROWTH FUND
VISTA(SM) LARGE CAP EQUITY FUND
VISTA(SM) BOND FUND
VISTA(SM) SHORT-TERM BOND FUND
VISTA(SM) GLOBAL FIXED INCOME FUND
VISTA(SM) INTERNATIONAL EQUITY FUND
VISTA(SM) SMALL CAP EQUITY FUND
VISTA(SM) U.S. GOVERNMENT SECURITIES FUND
VISTA(SM) AMERICAN VALUE FUND
VISTA(SM) SOUTHEAST ASIAN FUND
VISTA(SM) JAPAN FUND
VISTA(SM) EUROPEAN FUND
VISTA(SM) EMERGING GROWTH FUND
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part A Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
Captions apply to all Prospectuses except where
indicated in parenthesis. Parenthesis indicate
captions for Institutional Shares Prospectuses
1 Front Cover Page *
2(a) Expense Summary *
(b) Not Applicable *
3(a) Financial Highlights *
(b) Not Applicable *
(c) Performance Information *
4(a)(b) Other Information *
Concerning the Fund;
Fund Objective; Investment
Policies
(c) Fund Objective; Investment *
Policies
(d) Not Applicable *
5(a) Management *
(b) Management *
(c)(d) Management; Other Information Concerning the Fund *
</TABLE>
-i-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part A Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
(e) Other Information Concerning *
the Fund; Back Cover Page
(f) Other Information Concerning *
the Fund
(g) Not Applicable *
5A Not Applicable *
6(a) Other Information Concerning *
the Fund
(b) Not Applicable *
(c) Not Applicable *
(d) Not Applicable *
(e)(f) About Your Investment; How to Buy, Sell *
and Exchange Shares (How to Purchase, Redeem
and Exchange Shares); How Distributions Are
Made; Tax Information; Other Information
Concerning the Fund; Make the Most of Your
Vista Privileges.
(f) How Distributions are Made; *
Tax Information
(g) How Distributions are Made; Tax Matters
Tax Information
(h) About Your Investment; How to Buy, *
Sell and Exchange Shares (How to
Purchase, Redeem and Exchange Shares);
Other Information Concerning the Fund
7(a) How to Buy, Sell and Exchange *
Shares (How to Purchase, Redeem
and Exchange Shares)
(b) How the Fund Values its Shares; *
How to Buy, Sell and Exchange
Shares (How to Purchase, Redeem
and Exchange Shares)
(c) Not Applicable *
(d) How to Buy, Sell and Exchange *
Shares (How to Purchase, Redeem and
Exchange Shares)
</TABLE>
-ii-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part A Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
(e) Management; Other Information *
Concerning the Fund
(f) Other Information Concerning the *
Fund
8(a) How to Buy, Sell and Exchange *
Shares (How to Purchase, Redeem
and Exchange Shares)
(b) How to Buy, Sell and Exchange *
Shares (How to Purchase, Redeem
and Exchange Shares)
(c) How to Buy, Sell and Exchange *
Shares (How to Purchase, Redeem
and Exchange Shares)
(d) How to Buy, Sell and Exchange *
Shares (How to Purchase, Redeem
and Exchange Shares)
9 Not Applicable *
</TABLE>
-iii-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part B Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
10 * Front Cover Page
11 * Front Cover Page
12 * Not Applicable
13(a)(b) Fund Objective; Investment Investment Policies
Policies and Restrictions
14(c) * Management of the Trust and
Funds or Portfolios
(b) * Not Applicable
(c) * Management of the Trust and
Funds or Portfolios
15(a) * Not Applicable
(b) * General Information
(c) * General Information
16(a) Management Management of the Trust and
Funds or Portfolios
(b) Management Management of the Trust and
Funds or Portfolios
(c) Other Information Concerning Management of the Trust and
the Fund Funds or Portfolios
(d) Management Management of the Trust and
Funds or Portfolios
(e) * Not Applicable
</TABLE>
-iv-
<PAGE>
<TABLE>
<CAPTION>
Item Number
Form N-1A, Statement of Additional
Part B Prospectus Caption Information Caption
- ----------- ------------------ -----------------------
<S> <C> <C>
(f) How to Buy, Sell and Exchange Shares Management of the Trust and
(How to Purchase, Redeem and Exchange Shares); Funds or Portfolios
Other Information Concerning the Fund
(g) * Not Applicable
(h) * Management of the Trust and
Funds or Portfolios;
Independent Accountants
(i) * Not Applicable
17 Investment Policies Investment Policies and Restrictions
18(a) Other Information Concerning the Fund; General Information
How to Buy, Sell and Exchange Shares
(How to Purchase, Redeem and Exchange
Shares)
(b) * Not Applicable
19(a) How to Buy, Sell and Exchange Shares Purchases, Redemptions and Exchanges
(How to Purchase, Redeem and Exchange
Shares)
(b) How the Fund Values its Shares; How to Determination of Net Asset Value
Buy, Sell and Exchange Shares (How to
Purchase, Redeem and Exchange Shares)
(c) * Purchases, Redemptions and Exchanges
20 How Distributions are Made; Tax Information Tax Matters
21(a) * Management of the Trust and Funds
or Portfolios
(b) * Management of the Trust and Funds
or Portfolios
(c) * Not Applicable
22 * Performance Information
23 * Not Applicable
</TABLE>
-v-
<PAGE>
Part C
Information required to be included in Part C is set forth under the
appropriate Item, so numbered, in Part C of this Registration Statement.
-vi-
<PAGE>
EXPLANATORY NOTE
The Prospectuses for the Class A and Class B Shares of the Vista U.S. Treasury
Income Fund, Vista Bond Fund, Vista Large Cap Equity Fund, Vista Equity Income
Fund, Vista Small Cap Equity Fund, Vista Growth and Income Fund, Vista Balanced
Fund, Vista Capital Growth Fund, Vista International Equity Fund, Vista Global
Fixed Income Fund, Vista Southeast Asian Fund, Vista European Fund and Vista
Japan Fund, the Prospectuses for the Class A Shares of the Vista Short-Term Bond
Fund and Vista U.S. Government Securities Fund, the Prospectus for Shares of the
Vista American Value Fund, and the Prospectuses for the Institutional Shares of
the Vista U.S. Government Securities Fund, Vista Short-Term Bond Fund, Vista
Bond Fund, Vista Large Cap Equity Fund, Vista Small Cap Equity Fund, Vista
Growth and Income Fund and Vista Capital Growth Fund, each dated May 6, 1996,
are incorporated by reference to the Registrant's filing of definitive copies
under Rule 497 (c) of the Securities Act of 1933, as amended (the "Securities
Act"), on May 9, 1996.
The Prospectus Supplement for the Vista Large Cap Equity Fund dated May 10,
1996 is incorporated by reference to the Registrant's filing of a definitive
copy under Rule 497 (e) of the Securities Act on May 10, 1996.
The Prospectus Supplement for the Vista European Fund, Vista Southeast Asian
Fund and Vista Japan Fund dated May 30, 1996 is incorporated by reference to
the Registrant's filing of a definitive copy under Rule 497 (e) of the
Securities Act on May 30, 1996.
The Prospectus Supplement for the Vista Balanced Fund, Vista Bond Fund, Vista
Short-Term Bond Fund, Vista U.S. Government Securities Fund and Vista U.S.
Treasury Income Fund dated June 25, 1996 is incorporated by reference to the
Registrant's filing of a definitive copy under Rule 497 (e) of the Securities
Act on June 28, 1996.
The Prospectus Supplement for the Class A and Class B Shares of the Vista U.S.
Treasury Income Fund, Vista U.S. Government Securities Fund, Vista Bond Fund,
Vista Large Cap Equity Fund, Vista Balanced Fund, Vista Equity Income Fund,
Vista Growth and Income Fund, Vista Capital Growth Fund, Vista International
Equity Fund, Vista Global Fixed Income Fund, Vista Southeast Asian Fund, Vista
European Fund, Vista Japan Fund and Vista Short-Term Bond Fund dated July 1,
1996 is incorporated by reference to the Registrant's filing of a definitive
copy under Rule 497 (e) of the Securities Act on July 2, 1996.
The Prospectus Supplement for the Vista Small Cap Equity Fund dated July 1,
1996 is incorporated by reference to the Registrant's filing of a definitive
copy under Rule 497 (e) of the Securities Act on July 2, 1996.
The Statement of Additional Information for the Vista U.S. Treasury Income
Fund, Vista Bond Fund, Vista Large Cap Equity Fund, Vista Balanced Fund, Vista
Equity Income Fund, Vista Small Cap Equity Fund, Vista Growth and Income Fund,
Vista Capital Growth Fund, Vista American Value Fund, Vista U.S. Government
Securities Fund and Vista Short-Term Bond Fund (the "Domestic SAI") and the
Statement of Additional Information for the Vista International Equity Fund,
Vista Global Fixed Income Fund, Vista Southeast Asian Fund, Vista European
Fund and Vista Japan Fund (the "International SAI"), each dated May 6, 1996,
are incorporated by reference to the Registrant's filing of definitive copies
under Rule 497 (c) of the Securities Act on May 9, 1996.
The Statement of Additional Information Supplement for the Class A Shares of the
Vista American Value Fund, Vista Balanced Fund, Vista Bond Fund, Vista Capital
Growth Fund, Vista Equity Income Fund, Vista Growth and Income Fund, Vista Large
Cap Equity Fund, Vista Short-Term Bond Fund, Vista Small Cap Equity Fund,
Vista U.S. Government Securities Fund, Vista U.S. Treasury Income Fund dated
July 12, 1996 is incorporated by reference to the Registrant's filing of a
definitive copy under rule 497(e) of the Securities Act on July 18, 1996.
The Statement of Additional Information Supplement for the Class A Shares of
the Vista European Fund, Vista Global Fixed Income Fund, Vista International
Equity Fund, Vista Japan Fund and Vista Southeast Asian Fund dated July 12, 1996
is incorporated by reference to the Registrant's filing of a definitive copy
under rule 497(e) of the Securities Act on July 18, 1996.
<PAGE>
VISTA EUROPEAN FUND
VISTA GLOBAL FIXED INCOME FUND
VISTA INTERNATIONAL EQUITY FUND
VISTA JAPAN FUND
VISTA SOUTHEAST ASIAN FUND
SUPPLEMENT DATED AUGUST 7, 1996 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED MAY 6, 1996
The following text is inserted on page 52 under the caption "Financial
Statements" following the first sentence:
"The unaudited financial highlights and financial statements relating to the
Vista European Fund, Vista Japan Fund and Vista Southeast Asian Fund contained
in the Funds' Semi-Annual Report to Shareholders for the six months ended
April 30, 1996 are incorporated herein by reference."
<PAGE>
PART C
<PAGE>
MUTUAL FUND GROUP
PART C. OTHER INFORMATION
ITEM 24. Financial Statements and Exhibits
(a) Financial statements
In Part A: Financial Highlights (incorporated by
reference to the Registrant's filing of
definitive Prospectuses under Rule 497(c) of
the Securities Act on May 9, 1996, and the
Registrant's filing of a Prospectus Supplement
for the Vista European Fund, Vista Southeast
Asian Fund and Vista Japan Fund on May 30,
1996).
In Part B: Financial Statements and the Reports thereon
for the Funds filed herein, other than Vista
U.S. Government Securities Fund, Vista
American Value Fund, Vista European Fund,
Vista Japan Fund and Vista Southeast Asian
Fund for the fiscal year ended October 31,
1995 are incorporated by reference into Part B
as part of the 1995 Annual Reports to
Shareholders for such Funds as filed with the
Securities and Exchange Commission by Mutual
Fund Group on Form N-30D on December 29, 1995,
accession number 0000950123-95-003915, which
are incorporated into Part B by reference.
Financial Statements and the Reports thereon
for The Hanover U.S. Government Securities
Fund and The Hanover American Value Fund, each
a series of The Hanover Investment Funds,
Inc., for the fiscal year ended November 30,
1995 are incorporated by reference into Part B
as part of the 1995 Annual Reports to
Shareholders for such funds as filed with the
Securities and Exchange Commission by The
Hanover Investment Funds, Inc. on Form N-30D
on February 5, 1996, accession number
0000950123-96-000348, which are incorporated
into Part B by reference. Financial Statements
and the Reports thereon for the Vista European
Fund, Vista Japan Fund and Vista Southeast
Asian Fund for the period ended April 30, 1996
are incorporated by reference into Part B as
part of the April 30, 1996 Semi-Annual Report
to Shareholders for such funds as filed with
the Securities and Exchange Commission by
Mutual Fund Group on Form N-30D on June 25,
1996, accession number 0000950123-96-003251,
which is incorporated into Part B by
reference.
In Part C: None.
(b) Exhibits:
Exhibit
Number
- -------
1(a) Declaration of Trust, as amended. (1)
1(b) Certificate of Amendment to Declaration of Trust dated December 14,
1995.(12)
1(c) Certificate of Amendment to Declaration of Trust dated October 19,
1995.(12)
1(d) Certificate of Amendment to Declaration of Trust dated July 25,
1993.(12)
2 By-laws, as amended. (1)
3 None.
4 Specimen share certificate. (1)
5(a) Investment Advisory Agreements and Sub-Advisory Agreements(6)
5(b) Form of Investment Advisory Agreement for Vista Small Cap Equity
Fund. (9)
5(c) Administration Agreement.(6)
5(d) Form of Interim Investment Advisory Agreement.(12)
5(e) Form of Proposed Investment Advisory Agreement.(12)
5(f) Form of Proposed Sub-Advisory Agreement between The Chase Manhattan
Bank and Chase Asset Management, Inc.(12)
5(g) Form of Administration Agreement.(12)
5(h) Form of Proposed Investment Subadvisory Agreement between The Chase
Manhattan Bank and [Chase Asset Management, Inc./Van Deventer &
Hoch(12)].
6(a) Distribution and Sub-Administration Agreement.(6)
6(b) Distribution and Sub-Administration Agreement dated August 21,
1995.(12)
7(a) Retirement Plan for Eligible Trustees.(12)
7(b) Deferred Compensation Plan for Eligible Trustees.(12)
8(a) Custodian Agreement. (1)
8(b) Sub-Custodian Agreement. (1)
9(a) Transfer Agency Agreement. (1)
9(b) Administrative Services Plan. (1)
9(c) Shareholder Servicing Agreement of Vista Mutual Funds. (1)
9(d) Form of Shareholder Servicing Agreement of Vista Premier Funds.(1)
9(e) Form of Shareholder Servicing Agreement. (12)
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<PAGE>
9(f) Agreement and Plan of Reorganization and Liquidation.(12)
10 Opinion re: Legality of Securities being Registered.(1)
11 Consent of Price Waterhouse LLP.(13)
12 None.
13 Not Applicable
14 None.
15(a) Rule 12b-1 Distribution Plan of Vista Mutual Funds including
Selected Dealer Agreement and Shareholder Service Agreement. (1)
15(b) Rule 12b-1 Distribution Plan of Vista Premier Funds including
Selected Dealer Agreement and Shareholder Service Agreement. (1)
15(c) Rule 12b-1 Distribution Plan for each of Vista Bond Fund, Vista
Short-Term Bond Fund, Vista Equity Fund and Vista U.S. Government
Money Market Fund including Selected Dealer Agreement and
Shareholder Service Agreement.(3)
15(d) Form of Rule 12b-1 Distribution Plan for Class B shares of the Vista
Prime Money Market Fund.(8)
15(e) Form of Rule 12b-1 Distribution Plan for Vista Asian Oceanic Shares
Fund, Vista Japan Pacific Shares Fund, Vista U.S. Government
Securities Fund and Vista European Shares Fund.(8)
15(f) Form of Rule 12b-1 Distribution Plan for Vista Small Cap Equity
Fund.(9)
15(g) Proposed Rule 12b-1 Distribution Plan - Class A Shares - Vista
American Value Fund (including forms of Selected Dealer Agreement
and Shareholder Servicing Agreement).(12)
15(h) Rule 12b-1 Distribution Plan - Class B Shares (including forms of
Selected Dealer Agreement and Shareholder Servicing Agreement).(12)
16 Schedule for Computation for Each Performance Quotation.(11)
17 Financial Data Schedule.(13)
18 Form of Rule 18f-3 Multi-Class Plan.(12)
- --------------------
(1) Filed as an exhibit to Amendment No. 6 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) as filed with the
Securities and Exchange Commission on March 23, 1990.
(2) Filed as an exhibit to Amendment No. 11 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) as filed with the
Securities and Exchange Commission on June 8, 1992 to register shares of
the Vista Balanced Fund and IEEE Spectrum Fund series of the Trust.
(3) Filed as an exhibit to Amendment No. 15 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) as filed with the
Securities and Exchange Commission on October 30, 1992.
(4) Filed as an exhibit to Amendment No. 16 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on December 28, 1992.
(5) Filed as an exhibit to Amendment No. 19 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on June 30, 1993.
(6) Filed as an exhibit to Amendment No. 23 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on December 30, 1993.
(7) Filed as an exhibit to Amendment No. 24 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on February 10, 1994.
(8) Filed as an Exhibit to Amendment No. 26 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on June 30, 1994.
(9) Filed as an Exhibit to Amendment No. 27 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on October 3, 1994.
(10) Filed as an Exhibit to Amendment No. 30 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on July 19, 1995.
(11) Filed as an Exhibit to Amendment No. 31 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on November 13, 1995.
(12) Filed as an Exhibit to Amendment No. 32 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on December 28, 1995.
(13) Filed herewith
ITEM 25. Persons Controlled by or Under Common
Control with Registrant
Not applicable
C-2
<PAGE>
ITEM 26. Number of Holders of Securities
<TABLE>
<CAPTION>
Number of Record
Title of Series Holders as of June 30, 1996
--------------- ------------------------------
A B Institutional
Shares Shares Shares
<S> <C> <C> <C>
VISTA(SM) U.S. Treasury Income Fund 8,861 981 N/A
VISTA(SM) Growth and Income Fund 43,113 9,260 647
VISTA(SM) Capital Growth Fund 18,840 8,036 704
VISTA(SM) Balanced Fund 3,790 632 N/A
VISTA(SM) Large Cap Equity Fund 583 0 9,590
VISTA(SM) Bond Fund 40 7 5,755
VISTA(SM) Short-Term Bond Fund 920 N/A 3,749
VISTA(SM) Global Fixed Income Fund 209 36 N/A
VISTA(SM) International Equity Fund 1,962 648 N/A
VISTA(SM) Equity Income Fund 932 6 N/A
VISTA(SM) Southeast Asian Fund 713 83 N/A
VISTA(SM) Japan Fund 506 16 N/A
VISTA(SM) European Fund 519 7 N/A
VISTA(SM) Small Cap Equity Fund 6,768 3,178 2,385
VISTA(SM) U.S. Government Securities Fund 323 N/A 7,680
VISTA(SM) American Value Fund 694 N/A N/A
</TABLE>
ITEM 27. Indemnification
Reference is hereby made to Article V of the Registrant's Declaration
of Trust.
The Trustees and officers of the Registrant and the personnel of the
Registrant's investment adviser, administrator and distributor are insured under
an errors and omissions liability insurance policy. The Registrant and its
officers are also insured under the fidelity bond required by Rule 17g-1 under
the Investment Company Act of 1940.
Under the terms of the Registrant's Declaration of Trust, the Registrant may
indemnify any person who was or is a Trustee, officer or employee of the
Registrant to the maximum extent permitted by law; provided, however, that any
such indemnification (unless ordered by a court) shall be made by the Registrant
only as authorized in the specific case upon a determination that
indemnification of such persons is proper in the circumstances. Such
determination shall be made (i) by the Trustees, by a majority vote of a quorum
which consists of Trustees who are neither in Section 2(a)(19) of the Investment
Company Act of 1940, nor parties to the proceeding, or (ii) if the required
quorum is not obtainable or, if a quorum of such Trustees so directs, by
independent legal counsel in a written opinion. No indemnification will be
provided by the Registrant to any Trustee or officer of the Registrant for any
liability to the Registrant or shareholders to which he would otherwise be
subject by reason of willful misfeasance, bad faith, gross negligence or
reckless disregard of duty.
Insofar as the conditional advancing of indemnification monies for actions based
upon the Investment Company Act of 1940 may be concerned, such payments will be
made only on the following conditions: (i) the advances must be limited to
amounts used, or to be used, for the preparation or presentation of a defense to
the action, including costs connected with the preparation of a settlement; (ii)
advances may be made only upon receipt of a written promise by, or on behalf of,
the recipient to repay that amount of the advance which exceeds that amount to
which it is ultimately determined that he is entitled to receive from the
Registrant by reason of indemnification; and (iii) (a) such promise must be
secured by a surety bond, other suitable
C-3
<PAGE>
insurance or an equivalent form of security which assures that any repayments
may be obtained by the Registrant without delay or litigation, which bond,
insurance or other form of security must be provided by the recipient of the
advance, or (b) a majority of a quorum of the Registrant's disinterested,
non-party Trustees, or an independent legal counsel in a written opinion, shall
determine, based upon a review of readily available facts, that the recipient of
the advance ultimately will be found entitled to indemnification.
Insofar as indemnification for liability arising under the Securities
Act of 1933 may be permitted to 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 Exchange
Commission 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 it 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
The Chase Manhattan Bank, N.A. (the "Adviser") is a commercial bank
providing a wide range of banking and investment services.
To the knowledge of the Registrant, none of the Directors or executive
officers of the Adviser, except those described below, are or have been, at any
time during the past two years, engaged in any other business, profession,
vocation or employment of a substantial nature, except that certain Directors
and executive officers of the Adviser also hold or have held various positions
with bank and non-bank affiliates of the Adviser, including its parent, The
Chase Manhattan Corporation. Each Director listed below is also a Director of
The Chase Manhattan Corporation.
<TABLE>
<CAPTION>
Principal Occupation or Other
Position with Employment of a Substantial
Name the Adviser Nature During Past Two Years
- ---- ----------- ----------------------------
<S> <C> <C>
Thomas G. Labreque Chairman of the Board, Chairman, Chief Executive Officer
and Director and a Director of The Chase
Manhattan Corporation and a
Director of AMAX, Inc.
Richard J. Boyle Vice Chairman of the Vice Chairman of the Board and a
Board and Director Director of The Chase Manhattan
Corporation and Trustee of
Prudential Realty Trust
M. Anthony Burns Director Chairman of the Board, President
and Chief Executive Officer of
Ryder System, Inc.
Joan Ganz Cooney Director Chairman of the Executive
Committee of the Board of Trustees,
formerly Chief Executive Officer of
</TABLE>
C-4
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
Children's Television Workshop and
a Director of each of Johnson &
Johnson, Metropolitan Life
Insurance Company and Xerox
Corporation
Edward S. Finkelstein Director Retired Chairman and Chief
Executive Officer and Director of
R.H. Macy & Co., Inc. and a
Director of Time Warner Inc.
H. Laurance Fuller Director Chairman, President, Chief
Executive Officer and Director of
Amoco Corporation and Director of
Abbott Laboratories
Howard C. Kauffman Director Retired President of Exxon
Corporation and a Director of each
of Pfizer Inc. and Ryder System,
Inc.
Paul W. MacAvoy Director Dean of Yale School of
Organization and Management
David T. McLaughlin Director President and Chief Executive
Officer of The Aspen Institute,
Chairman of Standard Fuse
Corporation and a Director of each
of ARCO Chemical Company and
Westinghouse Electric Corporation
Edmund T. Pratt, Jr. Director Chairman Emeritus, formerly
Chairman and Chief Executive
Officer, of Pfizer Inc. and a
Director of each of Pfizer, Inc.,
Celgene Corp., General Motors
Corporation and International Paper
Company
Henry B. Schacht Director Chairman and Chief Executive
Officer of Cummins Engine
Company, Inc. and a Director of
each of American Telephone and
Telegraph Company and CBS Inc.
Jairo A. Estrada Director Chairman of the Board and Chief
Executive Officer of Garden Way
Incorporated
Donald H. Trautlein Director President and Chief Executive
Officer of The Aspen Institute,
Chairman of Standard Fuse
Corporation and a Director of each
of ARCO Chemical Company and
Westinghouse Electric Corporation
</TABLE>
C-5
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
Kay R. Whitmore Director Chairman of the Board, President
and Chief Executive Officer and
Director of Eastman Kodak
Company
James L. Ferguson Director Retired Chairman and Chief
Executive Officer of General Foods
Corporation
William H. Gray III Director President and Chief Executive
Officer of the United Negro College
Fund, Inc
David T. Kearns Director Retired Chairman and Chief
Executive Officer of the Xerox
Corporation
Delano E. Lewis Director President and Chief Executive
Officer of National Public Radio
John H. McArthur Director Dean of the Harvard Graduate
School of Business Administration
</TABLE>
ITEM 29. Principal Underwriters
(a) Vista Fund Distributors, Inc., a wholly-owned subsidiary of
The BISYS Group, Inc. is the underwriter for the Registrant.
(b) The following are the Directors and officers of Vista Fund
Distributors, Inc. The principal business address of each of these persons, with
the exception of Mr. Spicer, is 101 Park Avenue, New York, New York 10178. The
principal business address of Mr. Spicer is One Bush Street, San Francisco,
California 94104.
<TABLE>
<CAPTION>
Position and Offices Position and Offices
Name with Distributor with the Registrant
- ---- -------------------- --------------------
<S> <C> <C>
William B. Blundin Director and Chief Executive Officer None
Richard E. Stierwalt Director and Chief Operating Officer None
Timothy M. Spicer Director and Chairman of the Board None
Joseph Kissel President None
George Martinez Chief Compliance Officer Secretary and Assistant
and Secretary Treasurer
</TABLE>
(c) Not applicable
C-6
<PAGE>
ITEM 30. Location of Accounts and Records
The accounts and records of the Registrant are located, in whole or in
part, at the office of the Registrant and the following locations:
Name Address
---- -------
Vista Fund Distributors, Inc. 101 Park Avenue,
New York, NY 10178
DST Systems, Inc. 210 W. 10th Street,
Kansas City, MO 64105
The Chase Manhattan Bank 270 Park Avenue,
New York, NY 10017
Chase Asset Mangement, Inc. 1211 Avenue of the
Americas,
New York, NY 10036
Van Deventer & Hoch 800 North Brand Boulevard,
300 Glendale, CA 91203
The Chase Manhattan Bank One Chase Square,
Rochester, NY 14363
ITEM 31. Management Services
Not applicable
ITEM 32. Undertakings
(1) Registrant undertakes that its trustees shall promptly
call a meeting of shareholders of the Trust for the purpose of voting upon the
question of removal of any such trustee or trustees when requested in writing so
to do by the record holders of not less than 10 per centum of the outstanding
shares of the Trust. In addition, the Registrant shall, in certain
circumstances, give such shareholders assistance in communicating with other
shareholders of a fund as required by Section 16(c) of the Investment Company
Act of 1940.
(2) The Registrant, on behalf of the Funds, undertakes,
provided the information required by Item 5A is contained in the latest annual
report to shareholders, to furnish to each person to whom a prospectus has been
delivered, upon their request and without charge, a copy of the Registrant's
latest annual report to shareholders.
C-7
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment
Company Act of 1940, the Registrant has certified that it meets all of the
requirements for effectiveness of the Registration Statement pursuant to Rule
485(b) under the Securities Act of 1933 and has duly caused this Post-Effective
Amendment to its Registration Statement on Form N-1A to be signed on its behalf
by the undersigned, thereunto duly authorized, in the City of New York and the
State of New York on the 5th day of August, 1996.
MUTUAL FUND GROUP
By /s/ H. Richard Vartabedian
--------------------------
H. Richard Vartabedian
President
Pursuant to the requirements of the Securities Act of 1933, this Post-Effective
Amendment to the Registration Statement has been signed below by the following
persons in the capacities and on the dates indicated.
* Chairman and Trustee August 5, 1996
- ------------------------------
Fergus Reid, III
* Trustee August 5, 1996
- ------------------------------
William J. Armstrong
* Trustee August 5, 1996
- ------------------------------
John R.H. Blum
* Trustee August 5, 1996
- ------------------------------
Joseph J. Harkins
* Trustee August 5, 1996
- ------------------------------
Richard E. Ten Haken
Trustee August 5, 1996
- ------------------------------
Stuart W. Cragin, Jr.
Trustee August 5, 1996
- ------------------------------
Irv Thode
/s/ H. Richard Vartabedian President August 5, 1996
- ------------------------------ and Trustee
H. Richard Vartabedian
/s/ Martin R. Dean Treasurer and August 5, 1996
- ------------------------------ Principal Financial
Martin R. Dean Officer
- ------------------------------ Trustee August 5, 1996
W. Perry Neff
- ------------------------------ Trustee August 5, 1996
Roland R. Eppley, Jr.
- ------------------------------ Trustee August 5, 1996
W.D. MacCallan
/s/ Susan Penry-Williams Attorney August 5, 1996
- ------------------------------ in Fact
Susan Penry-Williams
C-8
<PAGE>
EXHIBIT INDEX
Exhibit
Number
- -------
11 Consent of Price Waterhouse LLP.
17 Financial Data Schedule (filed as Exhibit 27 in Edgar)
C-13
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814078
<NAME> VISTA SOUTHEAST ASIAN FUND - CLASS A
<SERIES>
<NUMBER> 151
<NAME> VISTA SOUTHEAST ASIAN FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 6,834,622
<INVESTMENTS-AT-VALUE> 7,481,998
<RECEIVABLES> 54,711
<ASSETS-OTHER> 102
<OTHER-ITEMS-ASSETS> 1,407,185
<TOTAL-ASSETS> 8,943,996
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45,698
<TOTAL-LIABILITIES> 45,698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,916,795
<SHARES-COMMON-STOCK> 737,198
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,860
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 330,935
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 647,708
<NET-ASSETS> 8,898,298
<DIVIDEND-INCOME> 45,401
<INTEREST-INCOME> 11,569
<OTHER-INCOME> 0
<EXPENSES-NET> 54,110
<NET-INVESTMENT-INCOME> 2,860
<REALIZED-GAINS-CURRENT> 330,935
<APPREC-INCREASE-CURRENT> 647,708
<NET-CHANGE-FROM-OPS> 981,503
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 819,285
<NUMBER-OF-SHARES-REDEEMED> 82,087
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8,898,298
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 112,891
<AVERAGE-NET-ASSETS> 6,096,000
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.002)
<PER-SHARE-GAIN-APPREC> 2.072
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 12.07
<EXPENSE-RATIO> 1.750
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814078
<NAME> VISTA SOUTHEAST ASIAN FUND - CLASS B
<SERIES>
<NUMBER> 142
<NAME> VISTA SOUTHEAST ASIAN FUND - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 6,834,622
<INVESTMENTS-AT-VALUE> 7,481,998
<RECEIVABLES> 54,711
<ASSETS-OTHER> 102
<OTHER-ITEMS-ASSETS> 1,407,185
<TOTAL-ASSETS> 8,943,996
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45,698
<TOTAL-LIABILITIES> 45,698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,916,795
<SHARES-COMMON-STOCK> 737,198
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,860
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 330,935
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 647,708
<NET-ASSETS> 8,898,298
<DIVIDEND-INCOME> 45,401
<INTEREST-INCOME> 11,569
<OTHER-INCOME> 0
<EXPENSES-NET> 54,110
<NET-INVESTMENT-INCOME> 2,860
<REALIZED-GAINS-CURRENT> 330,935
<APPREC-INCREASE-CURRENT> 647,708
<NET-CHANGE-FROM-OPS> 981,503
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 819,285
<NUMBER-OF-SHARES-REDEEMED> 82,087
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8,898,298
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 112,891
<AVERAGE-NET-ASSETS> 6,096,000
<PER-SHARE-NAV-BEGIN> 10.01
<PER-SHARE-NII> (.005)
<PER-SHARE-GAIN-APPREC> 2.025
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.03
<EXPENSE-RATIO> 2.460
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814078
<NAME> VISTA EUROPEAN FUND - CLASS A
<SERIES>
<NUMBER> 141
<NAME> VISTA EUROPEAN FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 4,703,811
<INVESTMENTS-AT-VALUE> 5,192,034
<RECEIVABLES> 74,296
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 263,797
<TOTAL-ASSETS> 5,530,127
<PAYABLE-FOR-SECURITIES> 1,788
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51,658
<TOTAL-LIABILITIES> 53,446
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,936,289
<SHARES-COMMON-STOCK> 490,122
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 16,095
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 20,792
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 503,508
<NET-ASSETS> 5,476,684
<DIVIDEND-INCOME> 54,995
<INTEREST-INCOME> 3,653
<OTHER-INCOME> 0
<EXPENSES-NET> 41,222
<NET-INVESTMENT-INCOME> 17,426
<REALIZED-GAINS-CURRENT> 20,792
<APPREC-INCREASE-CURRENT> 503,508
<NET-CHANGE-FROM-OPS> 541,726
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,331
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 556,891
<NUMBER-OF-SHARES-REDEEMED> 66,774
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> 5,476,681
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23,520
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 91,769
<AVERAGE-NET-ASSETS> 4,700,000
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .036
<PER-SHARE-GAIN-APPREC> 1.137
<PER-SHARE-DIVIDEND> .003
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 11.170
<EXPENSE-RATIO> 1.750
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814078
<NAME> VISTA EUROPEAN FUND - CLASS B
<SERIES>
<NUMBER> 142
<NAME> VISTA EUROPEAN FUND - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 4,703,811
<INVESTMENTS-AT-VALUE> 5,192,034
<RECEIVABLES> 74,296
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 263,797
<TOTAL-ASSETS> 5,530,127
<PAYABLE-FOR-SECURITIES> 1,788
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51,658
<TOTAL-LIABILITIES> 53,446
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,936,289
<SHARES-COMMON-STOCK> 490,122
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 16,095
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 20,792
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 503,508
<NET-ASSETS> 5,476,684
<DIVIDEND-INCOME> 54,995
<INTEREST-INCOME> 3,653
<OTHER-INCOME> 0
<EXPENSES-NET> 41,222
<NET-INVESTMENT-INCOME> 17,426
<REALIZED-GAINS-CURRENT> 20,792
<APPREC-INCREASE-CURRENT> 503,508
<NET-CHANGE-FROM-OPS> 541,726
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,331
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 556,891
<NUMBER-OF-SHARES-REDEEMED> 66,774
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> 5,476,681
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23,520
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 91,769
<AVERAGE-NET-ASSETS> 4,700,000
<PER-SHARE-NAV-BEGIN> 9.970
<PER-SHARE-NII> .009
<PER-SHARE-GAIN-APPREC> 1.161
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 11.140
<EXPENSE-RATIO> 2.470
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814078
<NAME> VISTA JAPAN FUND - CLASS A
<SERIES>
<NUMBER> 131
<NAME> VISTA JAPAN FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 4,720,293
<INVESTMENTS-AT-VALUE> 5,176,049
<RECEIVABLES> 52,102
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 651,206
<TOTAL-ASSETS> 5,879,357
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 67,469
<TOTAL-LIABILITIES> 67,469
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,316,842
<SHARES-COMMON-STOCK> 520,583
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (16,720)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 94,271
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 417,495
<NET-ASSETS> 5,811,888
<DIVIDEND-INCOME> 12,394
<INTEREST-INCOME> 6,300
<OTHER-INCOME> 0
<EXPENSES-NET> 35,414
<NET-INVESTMENT-INCOME> (16,720)
<REALIZED-GAINS-CURRENT> 94,271
<APPREC-INCREASE-CURRENT> 417,495
<NET-CHANGE-FROM-OPS> 495,046
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 550,589
<NUMBER-OF-SHARES-REDEEMED> 30,006
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,811,888
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 20,122
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 81,470
<AVERAGE-NET-ASSETS> 4,025,000
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.034)
<PER-SHARE-GAIN-APPREC> 1.204
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.17
<EXPENSE-RATIO> 1.750
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814078
<NAME> VISTA JAPAN FUND - CLASS B
<SERIES>
<NUMBER> 132
<NAME> VISTA JAPAN FUND - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 4,720,293
<INVESTMENTS-AT-VALUE> 5,176,049
<RECEIVABLES> 52,102
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 651,206
<TOTAL-ASSETS> 5,879,357
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 67,469
<TOTAL-LIABILITIES> 67,469
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,316,842
<SHARES-COMMON-STOCK> 520,583
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (16,720)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 94,271
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 417,495
<NET-ASSETS> 5,811,888
<DIVIDEND-INCOME> 12,394
<INTEREST-INCOME> 6,300
<OTHER-INCOME> 0
<EXPENSES-NET> 35,414
<NET-INVESTMENT-INCOME> (16,720)
<REALIZED-GAINS-CURRENT> 94,271
<APPREC-INCREASE-CURRENT> 494,017
<NET-CHANGE-FROM-OPS> 571,568
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 550,589
<NUMBER-OF-SHARES-REDEEMED> 30,006
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,811,888
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 20,122
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 81,470
<AVERAGE-NET-ASSETS> 4,025,000
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .047
<PER-SHARE-GAIN-APPREC> 1.083
<PER-SHARE-DIVIDEND> .00
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 11.130
<EXPENSE-RATIO> 2.450
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
