As filed via EDGAR with the Securities and Exchange Commission on
August 19, 1999
File No. 811-5151
Registration No. 33-14196
- --------------------------------------------------------------------------------
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. 61 |X|
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
Post-Effective Amendment No. 100 |X|
-------------------------------
MUTUAL FUND GROUP
(Exact Name of Registrant as Specified in Charter)
One Chase Manhattan Plaza
New York, New York 10081
--------------------------------------------------
(Address of Principal Executive Office)
Registrant's Telephone Number, including Area Code: (212) 492-1600
George Martinez, Esq. Peter Eldridge, 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 for the fiscal year ended October 31, 1998 was
filed on January 27, 1999.
<PAGE>
[front cover]
Prospectus AUGUST 19, 1999
Chase Vista
Balanced Fund
Class A shares
Neither the Securities and
Exchange Commission nor any
state securities commission
has approved or disapproved
securities of this Fund or
determined if this prospectus
is accurate or complete. It is
a crime to state otherwise.
[logo: CHASE VISTA FUNDS(SM)]
PSBYS-1-899
<PAGE>
<TABLE>
<S> <C>
BALANCED FUND 1
- ----------------------------------------------
THE FUND'S INVESTMENT ADVISER 10
- ----------------------------------------------
- ----------------------------------------------
HOW YOUR ACCOUNT WORKS 12
- ----------------------------------------------
ABOUT SALES CHARGES 12
BUYING FUND SHARES 13
SELLING FUND SHARES 15
OTHER INFORMATION CONCERNING THE FUND 16
DISTRIBUTIONS AND TAXES 16
- ----------------------------------------------
SHAREHOLDER SERVICES 18
- ----------------------------------------------
- ----------------------------------------------
WHAT THE TERMS MEAN 19
- ----------------------------------------------
- ----------------------------------------------
FINANCIAL HIGHLIGHTS OF THE FUND 21
- ----------------------------------------------
- ----------------------------------------------
HOW TO REACH US Back cover
- ----------------------------------------------
</TABLE>
<PAGE>
CHASE VISTA BALANCED FUND
- --------------------------------------------------------------------------------
[start sidebar]
The Fund's
objective
The Fund seeks to
maximize total
return through
long-term capital
growth and earning
current income.
[end sidebar]
The Fund's main
investment strategy
The Fund invests in both equity and debt securities. Under normal market condi-
tions, the Fund invests 35% to 70% of its total assets in equity securities and
at least 25% of its total assets in investment grade debt securities. Most of
the Fund's equity securities are in well known, established companies with
market capitalizations of at least $200 million at the time of purchase and
which are traded on established securities markets or over-the-counter. Market
capitalization is the total market value of a company's shares. Equity
securities include common stocks, preferred stocks and securities that are
convertible into common stocks, and warrants to buy common stocks.
The Fund's debt securities include non-convertible corporate debt, and U.S.
Government debt securities. The Fund invests in corporate debt securities that
are rated Baa or higher by Moody's Investors Service, Inc., BBB or higher by
Standard & Poor's Corporation, or the equivalent rating by another national
rating organization. It may also invest in unrated securities of comparable
quality. There is no restriction on the maturity of the Fund's debt portfolio
or on any individual security in the portfolio. The average maturity, or time
until debt investments come due, will vary as market conditions change.
The Fund's advisers may change the balance between equity and fixed income
investments to suit market conditions.
1
<PAGE>
CHASE VISTA BALANCED FUND
In selecting equity securities, the Fund's advisers do quantitative analysis
and fundamental research to seek to identify undervalued stocks which have the
potential to increase in value. The advisers first seek to find companies with
the best earnings prospects and then select companies which appear to have the
most attractive values. The advisers also seek to invest in sectors with good
earnings prospects as well.
The advisers may look for value-oriented factors, such as a low price-to-
earnings or price-to-cash ratio, in determining whether a stock is undervalued.
In addition, they may also attempt to identify those undervalued companies
which will experience earnings growth or improved earnings characteristics.
In determining whether to sell a stock, the advisers will use the same type of
analysis that they use in buying stocks in order to determine whether the stock
is still undervalued. This may include selling those securities which have
appreciated to meet their target valuations.
For debt securities, the Fund develops an appropriate portfolio strategy by
selecting among various sectors (for example, corporate bonds, U.S. government
debt, mortgage-backed securities or asset-backed securities) and securities.
When making these selections, the advisers use a relative value investment
approach as well as extensive analyses of the securities' creditworthiness and
structures. The advisers seek to spread the Funds' investments across a variety
of sectors to maximize diversification and liquidity. The advisers also
actively manage the duration of the Fund's portfolio.
In determining if a sector or security is relatively undervalued, the advisers
look to whether different sectors and securities are appropriately priced given
their risk characteristics and the fundamental (such as economic growth or
inflation outlook) and technical (such as supply and demand) factors in the
market at any point in time. The advisers may change the emphasis that they
place on each of these factors from time to time. In addition, research plays
an important role in the advisers' relative value investment process. The
research effort incorporates both fundamental and quantitative analysis.
In determining whether to sell a debt security, the advisers will use the same
type of analysis that they use in buying debt securities in order to determine
whether the debt security is still undervalued. This may include selling those
securities which have appreciated to meet their target valuations.
The frequency of yield curve shifts over the last few years has made yield
curve strategies an important dimension of the Fund's overall investment
strategy. Yield curves show the relationship between yields on similar debt
securities with different maturities. The Fund may seek gains by investing in
anticipation of yield curve movements.
The Fund may invest up to 20% of it total assets in foreign securities. These
investments may take the form of depositary receipts. It may also invest in
convertible securities, which generally pay interest or dividends and which can
be converted into common or preferred stock.
The Fund's equity holdings may also include real estate investment trusts
(REITs), which are pools of investments primarily in income-producing real
estate or loans related to real estate.
2
<PAGE>
[start sidebar]
FREQUENCY OF TRADING
The Fund may trade securities
actively, which could increase
transaction costs (and lower
performance) and increase your
taxable dividends.
[end sidebar]
The Fund may invest in mortgage-related securities issued by governmental
entities and private issuers. These may include investments in collateralized
mortgage obligations and principal-only and interest-only stripped
mortgage-backed securities.
The Fund may enter into "dollar rolls," in which the Fund sells mortgage-backed
securities and at the same time contracts to buy back very similar securities
on a future date. It may also buy asset-backed securities. These receive a
stream of income from a particular asset, such as credit card receivables.
The Fund may invest in floating rate securities, whose interest rate adjusts
automatically whenever a specified interest rate changes, and in variable rate
securities, whose interest rates are changed periodically.
The Fund may also invest in high quality money market instruments and
repurchase agreements. To temporarily defend its assets, the Fund may put any
amount of its assets in these types of investments.
The Fund may invest in derivatives, which are financial instruments whose value
is based on another security, index or exchange rate. The Fund may use
derivatives to hedge various market risks or to increase the Fund's income or
gain.
The Fund may change any of these investment policies (but not its investment
objective) without shareholder approval. [Chase logo]
3
<PAGE>
CHASE VISTA BALANCED FUND
The Fund's main investment risks
All mutual funds carry a certain amount of risk. You may lose money on your
investment in the Fund. Here are some of the specific risks of investing in
Balanced Fund.
The Fund may not achieve its objective if the advisers' expectations regarding
particular securities or markets are not met.
The value of shares of the Fund will be influenced by conditions in stock
markets as well as the performance of the companies selected for the Fund's
portfolio.
The Fund may not achieve its objective if securities which the advisers believe
are undervalued do not appreciate as much as the advisers anticipate.
The securities of smaller cap companies may trade less frequently and in
smaller volumes than securities of larger, more established companies. As a
result, share price changes may be more sudden or more erratic. Smaller cap
companies may have limited product lines, markets or financial resources, and
they may depend on a small management group.
Investments in foreign securities may be riskier than investments in the U.S.
Because foreign securities are usually denominated in foreign currencies, the
value of the Fund's portfolio may be influenced by currency exchange rates and
exchange control regulations. Foreign securities may be affected by political,
social and economic instability. Some securities may be harder to trade without
incurring a loss and may be difficult to convert into cash. There may be less
public information available, differing settlement procedures, or regulations
and standards that don't match U.S. standards. Some countries may nationalize or
expropriate assets or impose exchange controls. These risks increase when
investing in issuers located in developing countries.
[start sidebar]
Investments in the Fund are not
bank deposits or obligations of,
or guaranteed or endorsed by,
The Chase Manhattan Bank are
not insured or guaranteed by the
Federal Deposit Insurance Corpo-
ration, Federal Reserve Board or
any other government agency.
[end sidebar]
4
<PAGE>
Unsponsored depositary receipts may not provide as much information about the
underlying issuer and may not carry the same voting privileges as sponsored
depositary receipts.
In early 1999, the European Monetary Union implemented a new currency called
the "euro." It is possible that the euro could increase volatility in financial
markets, which could have a negative effect on the value of shares of the Fund.
The value of the Fund's fixed income securities tends to fall when prevailing
interest rates rise. Such a drop could be worse if the Fund invests a larger
portion of its assets in debt securities with longer maturities. That's because
long-term debt securities are more sensitive to interest rate changes than
other fixed income securities. Note that conversely the value of fixed income
investments tends to increase when prevailing interest rates fall.
When the Fund invests in mortgage-related securities, the value of the Fund
could change more often and to a greater degree than if it did not buy
mortgage-related securities. That's because the prepayment features on some
mortgage-related securities make them more sensitive to interest rate changes.
Mortgage-related securities are subject to scheduled and unscheduled principal
payments as property owners pay down or prepay their mortgages. As these
payments are received, they must be reinvested when interest rates may be higher
or lower than on the original mortgage security. When interest rates are rising,
the value of fixed-income securities with prepayment features are likely to
decrease as much or more than securities without prepayment features. In
addition, while the value of fixed-income securities will generally increase
when interest rates decline, the value of mortgage-related securities with
prepayment features may not increase as much as securities without prepayment
features.
Collateral mortgage obligations are issued in multiple classes, and each class
may have its own interest rate and/or final payment date. A class with an
earlier final payment date may have certain preferences in receiving principal
payments or earning interest. As a result, the value of some classes in which
the Fund invests may be more volatile and may be subject to higher risk of
nonpayment.
The value of interest-only and principal-only mortgage backed securities are
more volatile than other types of mortgage-related securities. That's because
they are very sensitive not only to changes in interest rates, but also to the
rate of prepayments. A rapid or unexpected increase in prepayments can
significantly depress the price of interest-only securities, while a rapid or
unexpected decrease could have the same effect on principal-only securities. In
addition, these instruments may be illiquid.
Certain securities which the Fund may hold, such as stripped obligations and
zero coupon securities, are more sensitive to changes in interest rates than
ordinary interest-paying securities. As a result, they may be more volatile
than other types of investments.
The Fund's performance will also depend on the credit quality of its
investments.
5
<PAGE>
CHASE VISTA BALANCED FUND
Securities which are rated Baa by Moody's or BBB by S&P may have fewer
protective provisions and are generally more risky than higher rated securities.
The issuer may have trouble making principal and interest payments when
difficult economic conditions exist.
Some asset-backed securities may have additional risk because they may receive
little or no collateral protection from the underlying assets.
Because the interest rate changes on floating and variable rate securities, the
Fund's yield may decline and it may lose the opportunity for capital
appreciation when interest rates decline.
Dollar rolls, forward commitments and repurchase agreements involve some risk
to the Fund if the other party does not live up to its obligations under the
agreement.
The market value of convertible securities tends to decline as interest rates
increase, and increase as interest rates decline. Their value also tends to
change whenever the market value of the underlying common or preferred stock
fluctuates.
The value of REITs will depend on the value of the underlying properties or the
underlying loans or interest. The value of REITs may decline when interest
rates rise. The value of a REIT will also be affected by the real estate market
and by the management of the REIT's underlying properties. REITs may be more
volatile or more illiquid than other types of securities.
If the Fund invests a substantial portion of its assets in money market
instruments, repurchase agreements and U.S. Government obligations, including
where the Fund is investing for temporary defensive purposes, it could reduce
the Fund's potential return.
Derivatives may be more risky than other types of investments because they may
respond more to changes in economic conditions than other types of investments.
If they are used for non-hedging purposes, they could cause losses that exceed
the Fund's original investment.
The Fund, like any business, could be affected if the computer systems on which
it relies fail to properly process information beginning January 1, 2000. The
Fund's advisers are updating their own systems and encouraging service
providers to do the same, but there's no guarantee these systems will work
properly. Year 2000 problems could also hurt issuers whose securities the Fund
holds or securities markets generally. [Chase logo]
6
<PAGE>
The Fund's past performance
This section shows the Fund's performance record. The bar chart shows how the
performance of the Fund's Class A shares has varied from year to year. This
provides some indication of the risk of investing in the Fund. The table shows
the average annual return over the past year, five years and since inception.
It compares that performance to the Lehman Aggregate Bond Index and the S&P 500
Index, widely recognized market benchmarks, and the Lipper Balanced Funds
Average, representing the average performance of a universe of 392 actively
managed balanced funds.
The calculations assume that all dividends and distributions are reinvested in
the Fund. [Chase logo]
YEAR-BY-YEAR RETURNS
Past performance does not predict how
this Fund will perform in the future.
The performance figures in the bar chart
do not reflect any deduction for the
front-end sales load which is assessed
on Class A shares. If the load were
reflected, the performance figures would
have been lower.
- -------------------------------- [BAR CHART] ---------------------------------
<TABLE>
<S> <C>
1993 12.68%
1994 0.21%
1995 24.98%
1996 14.56%
1997 22.03%
1998 14.47%
</TABLE>
- ------------------------------ [END BAR CHART] -------------------------------
<TABLE>
<S> <C>
------------------------------------------
BEST QUARTER 11.35%
------------------------------------------
4th quarter, 1998
------------------------------------------
WORST QUARTER -4.96%
------------------------------------------
3rd quarter, 1998
</TABLE>
The total return for the Fund from
January 1, 1999 to March 31, 1999 was
0.94%.
AVERAGE ANNUAL TOTAL RETURNS
For the periods ending December 31, 1998:
<TABLE>
<CAPTION>
SINCE
INCEPTION
PAST 1 YEAR PAST 5 YEARS (11/4/92)
<S> <C> <C> <C>
- --------------------------------------------------------------------------------
CLASS A SHARES 7.89% 13.56% 13.91%
- --------------------------------------------------------------------------------
LEHMAN AGGREGATE BOND INDEX 8.69% 7.27% 7.74%
- --------------------------------------------------------------------------------
S&P 500 INDEX 28.60% 24.05% 24.84%
- --------------------------------------------------------------------------------
LIPPER BALANCED FUNDS AVG. 13.48% 13.84% 13.23%
- --------------------------------------------------------------------------------
</TABLE>
The performance for the Class A shares reflects the deduction of the maximum
front end sales load.
7
<PAGE>
CHASE VISTA BALANCED FUND
Fees and expenses
This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund.
SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT)
<TABLE>
<CAPTION>
MAXIMUM SALES CHARGE MAXIMUM DEFERRED SALES
(LOAD) WHEN YOU BUY CHARGE (LOAD) SHOWN AS
SHARES, SHOWN AS % OF THE LOWER OF ORIGINAL PURCHASE
OFFERING PRICE(1) PRICE OR REDEMPTION PROCEEDS
<S> <C> <C>
- --------------------------------------------------------------------------------
CLASS A SHARES 5.75% NONE
- --------------------------------------------------------------------------------
</TABLE>
ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT ARE DEDUCTED
FROM FUND ASSETS)(2)
<TABLE>
<CAPTION>
TOTAL ANNUAL
MANAGEMENT DISTRIBUTION OTHER FUND OPERATING
CLASS OF SHARES FEE (12B-1) FEES EXPENSES EXPENSES
<S> <C> <C> <C> <C>
- --------------------------------------------------------------------------------
CLASS A 0.50% 0.25% 0.67% 1.42%
- --------------------------------------------------------------------------------
</TABLE>
(1) The offering price is the net asset value of the shares purchased plus any
sales charge.
(2) The table is based on expenses incurred in the most recent fiscal year. The
actual Other expenses for Class A shares are expected to be 0.50% and the total
annual Fund operating expenses are expected not to exceed 1.25% for Class A
shares. That's because The Chase Manhattan Bank (Chase) and some of the Fund's
other service providers have volunteered not to collect a portion of their fees
and to reimburse others. Chase and these other service providers may end this
arrangement at any time.
The table does not reflect charges or credits which you might incur if you
invest through a financial institution.
8
<PAGE>
EXAMPLE This example helps you compare the cost of investing in the Fund with
the cost of investing in other mutual funds. The example assumes:
o you invest $10,000
o you sell all your shares at the end of the period
o your investment has a 5% return each year, and
o the Fund's operating expenses are not waived and remain the same as shown
above.
Although your actual costs may be higher or lower, based on these assumptions:
IF YOU SELL YOUR SHARES YOUR COSTS WOULD BE:
<TABLE>
<CAPTION>
1 YEAR 3 YEARS 5 YEARS 10 YEARS
<S> <C> <C> <C> <C>
- --------------------------------------------------------------------------------
CLASS A SHARES* $711 $998 $1307 $2179
- --------------------------------------------------------------------------------
</TABLE>
*Assumes sales charge is deducted when shares are purchased.
The costs above are based on pre-waiver Annual Fund Operating Expenses.
9
<PAGE>
FUND'S INVESTMENT ADVISER
- --------------------------------------------------------------------------------
The Chase Manhattan Bank (Chase) is the investment adviser to the Fund. Chase
is a wholly owned subsidiary of The Chase Manhattan Corporation (CMC), a bank
holding company. Chase provides the Fund with investment advice and
supervision. Chase and its predecessors have more than a century of money
management experience. Chase is located at 270 Park Avenue, New York, NY 10017
Chase is entitled to receive an annual management fee at the rate of 0.50% of
the average daily net assets of the Balanced Fund.
Chase Asset Management Inc. (CAM) is the sub-adviser to the Fund. CAM is a
wholly-owned subsidiary of Chase. It makes the day-to-day investment decisions
for the Fund. CAM provides discretionary investment services to institutional
clients and is located at 1211 Avenue of the Americas, New York, NY 10036.
10
<PAGE>
The portfolio managers
BALANCED FUND
Greg Adams and Leonard Lovito, Vice Presidents and Senior Portfolio Managers at
Chase, are responsible for the management of the Fund's portfolio. Mr. Adams
has managed the equity portion of the Fund since its inception in 1993. He
joined Chase in 1987 and has been responsible for overseeing the proprietary
computer model program used in the U.S. equity selection process.
Mr. Lovito has been responsible for the debt portion of the Fund since July
1998. From 1984 to June 1998, Mr. Lovito was a Vice President and Portfolio
Manager at J.W. Seligman & Co., Inc, where he was responsible for managing a
number of institutional portfolios and mutual funds. Before that, Mr. Lovito
was in the Investment Department at Dime Savings Bank of New York.
11
<PAGE>
HOW YOUR ACCOUNT WORKS
- --------------------------------------------------------------------------------
About sales charges
There's a sales charge to buy shares in the Fund. There are also ongoing
charges that all investors pay as long as they own their shares, as explained
later.
Class A shares have a charge you pay when you invest.
The Balanced Fund is available in Class A shares in this prospectus.
There are a number of plans and special discounts which can decrease or even
eliminate these charges.
This section explains how the sales charges work.
12
<PAGE>
CLASS A SHARES
The initial sales charge is deducted directly from the money you invest. As the
table shows, the charge is lower the more you invest. The public offering price
of Class A shares is the net asset value plus the initial sales charge. Net
asset value is the value of everything a Fund owns, minus everything it owes,
divided by the number of shares held by investors. The Fund receives the net
asset value.
<TABLE>
<CAPTION>
TOTAL SALES CHARGE
AS % OF THE
OFFERING AS % OF
AMOUNT OF PRICE NET AMOUNT
INVESTMENT PER SHARE INVESTED
- ------------------------------------------
<S> <C> <C>
LESS THAN
$100,000 5.75% 6.10%
- ------------------------------------------
$100,000
BUT UNDER
$250,000 3.75% 3.90%
- ------------------------------------------
$250,000
BUT UNDER
$500,000 2.50% 2.56%
- ------------------------------------------
$500,000
BUT UNDER
$1 MILLION 2.00% 2.04%
- ------------------------------------------
</TABLE>
There is no sales charge for investments of $1 million or more.
GENERAL
Vista Fund Distributors Inc. (VFD) is the distributor for the Balanced Fund.
It's a subsidiary of BISYS Group, Inc. and is not affiliated with Chase. The
Fund has adopted Rule 12b-1 distribution plans under which it pays annual
distribution fees of up to 0.25% of the average daily net assets attributed to
Class A shares.
This payment covers such things as compensation for services provided by
broker-dealers and expenses connected to the sale of shares. Payments are not
tied to actual expenses incurred.
Because 12b-1 expenses are paid out of the Fund's assets on an ongoing basis,
over time these fees will increase the cost of your investment and may cost you
more than other types of sales charges. [Chase logo]
Buying Fund shares
You can buy shares three ways:
Through your investment representative
Tell your representative that you would like to purchase shares of the Balanced
Fund and he or she will contact us. Your representative may charge you a fee
and may offer additional services, such as special purchase and redemption
programs. Some representatives charge a single fee that covers all services.
Your representative may impose different minimum investments and earlier
deadlines to buy and sell shares.
Through the Chase Vista Funds Service Center
Call 1-800-34-VISTA
Or
Complete the application form and mail it along with a check for the amount you
want to invest to:
Chase Vista Funds Service Center,
P.O. Box 419392
Kansas City, MO 64141-6392
13
<PAGE>
HOW YOUR ACCOUNT WORKS
Through a Systematic Investment Plan
You can make regular automatic purchases of at least $100. See There's more on
the Systematic Investment Plan later in this document.
The price of the shares is based on the net asset value per share (NAV). NAV is
the value of everything the Fund owns, minus everything it owes, divided by the
number of shares held by investors. You'll pay the public offering price, which
is based on the next NAV calculated after the Chase Vista Funds Service Center
accepts your instructions. The Fund calculates its NAV once each day at the
close of regular trading on the New York Stock Exchange. The Fund generally
values its assets at the market value but may use fair value if market prices
are unavailable. The Chase Vista Funds Service Center will not accept your
order until it is in proper form. An order is in proper form only after payment
is converted into federal funds.
The Chase Vista Funds Service Center accepts purchase orders on any business
day that the New York Stock Exchange is open. Normally, if the Chase Vista
Funds Service Center receives your order in proper form by the close of regular
trading on the New York Stock Exchange, we'll process your order at that day's
price.
You must provide a Social Security Number or Taxpayer Identification Number
when you open an account. The Fund has the right to refuse any purchase order
or to stop offering shares for sale at any time.
TO OPEN AN ACCOUNT, BUY OR SELL SHARES OR GET FUND INFORMATION, CALL:
- ------------------------------------
THE CHASE VISTA FUNDS SERVICE CENTER
- ------------------------------------
1-800-34-VISTA
- ------------------------------------
MINIMUM INVESTMENTS
<TABLE>
<CAPTION>
INITIAL ADDITIONAL
TYPE OF ACCOUNT INVESTMENT INVESTMENTS
- ----------------------------------------------
<S> <C> <C>
REGULAR
ACCOUNT $2,500 $100
- ----------------------------------------------
SYSTEMATIC
INVESTMENT
PLAN $1,000 $100
- ----------------------------------------------
IRAS $1,000 $100
- ----------------------------------------------
SEP-IRAS $1,000 $100
- ----------------------------------------------
EDUCATION
IRAS $ 500 $100
- ----------------------------------------------
</TABLE>
Make your check out to Chase Vista Funds in U.S. dollars. We won't accept
credit cards, cash, or checks from a third party. You cannot sell your shares
until your check has cleared, which could take more than 15 calendar days. If
you buy through an Automated Clearing House, you can't sell your shares until
the payment clears. That could take more than seven business days.
Your purchase will be canceled if your check doesn't clear and you'll be
responsible for any expenses and losses to the Fund. Orders by wire will be
cancelled if the Chase Vista Funds Service Center doesn't receive payment by
4:00 p.m. Eastern time on the day you buy.
If you're planning to exchange, sell or transfer shares to another person
shortly after buying the shares, you should pay by certified check to avoid
delays. The Fund will not issue certificates for Class A shares unless you
request them.
14
<PAGE>
Selling Fund shares
You can sell your shares three ways:
Through your investment representative
Tell your representative that you would like to sell your shares of the
Balanced Fund. He or she will send the necessary documents to the Chase Vista
Funds Service Center. Your representative might charge you for this service.
Through the Chase Vista Funds Service Center
Call 1-800-34-VISTA. We will mail you a check or send the proceeds via
electronic transfer or wire. You cannot sell by phone if you have changed your
address of record within the previous 30 days. If you sell $25,000 or more
worth of Funds by phone, we'll send it by wire only to a bank account on our
records.
We charge $10 for each transaction by wire.
Or
Send a signed letter with your instructions to:
Chase Vista Funds Service Center,
P.O. Box 419392
Kansas City, MO 64141-6392
Through a Systematic
Withdrawal Plan
You can automatically sell as little as $50 worth of shares. See Shareholder
Services for details.
You can sell your shares on any day the Chase Vista Funds Service Center is
accepting purchase orders. You'll receive the next NAV calculated after the
Chase Vista Funds Service Center accepts your order, less any applicable sales
charges.
Under normal circumstances, if the Chase Vista Funds Service Center receives
your order before the close of regular trading on the New York Stock Exchange,
the Fund will send you the proceeds the next business day. We won't accept an
order to sell shares if the Fund hasn't collected your payment for the shares.
The Fund may stop accepting orders to sell and may postpone payments for more
than seven days, as federal securities laws permit.
You'll need to have signatures guaranteed for all registered owners or their
legal representative if:
o you want to sell shares with a net asset value of $100,000 or more
o you want your payment sent to an address other than the one we have in our
records.
We may also need additional documents or a letter from a surviving joint owner
before selling the shares. Contact the Chase Vista Funds Service Center for
more details.
15
<PAGE>
HOW YOUR ACCOUNT WORKS
Other information
concerning the Fund
We may close your account if the balance falls below $500 because you've sold
shares. We may also close the account if you are in the Systematic Investment
Plan and fail to meet investment minimums over a 12-month period. We'll give
you 60 days notice before closing your account.
Unless you indicate otherwise on your account application, we are authorized to
act on redemption and transfer instructions received by phone. If someone
trades on your account by phone, we'll ask that person to confirm your account
registration and address to make sure they match those you provided us. If they
give us the correct information, we are generally authorized to follow that
person's instructions. We'll take all reasonable precautions to confirm that
the instructions are genuine. Investors agree that they will not hold a Fund
liable for any loss or expenses from any sales request, if the Fund takes
reasonable precautions. The Fund will be liable for any losses to you from an
unauthorized sale or fraud against you if we do not follow reasonable
procedures.
You may not always reach the Chase Vista Funds Service Center by telephone.
This may be true at times of unusual market changes and shareholder activity.
You can mail us your instructions or contact your investment representative or
agent. We may modify or cancel the sale of shares by phone without notice.
The Fund has agreements with certain shareholder servicing agents (including
Chase) under which the shareholder servicing agents have agreed to provide
certain support services to their customers. For performing these services,
each shareholder servicing agent receives an annual fee of up to 0.25% of the
average daily net assets of the Class A shares of the Fund held by investors by
the shareholder servicing agent.
Chase and/or VFD may, at their own expense, make additional payments to certain
selected dealers or other shareholder servicing agents for performing
administrative services for their customers. The amount may be up to an
additional 0.10% annually of the average net assets of the Fund attributable to
shares of the Fund held by customers of those shareholder servicing agents.
Chase and its affiliates and the Fund and its affiliates, agents and subagents
may share information about shareholders and their accounts with each other and
with others unless this sharing is prohibited by contract. The information can
be used for a variety of purposes, including offering investment and insurance
products to shareholders. [Chase logo]
Distributions and taxes
The Fund can earn income and they can realize capital gain. The Fund deducts
any expenses then pay out
16
<PAGE>
these earnings to shareholders as distributions.
The Balanced Fund distributes any net investment income at least quarterly. Net
capital gain is distributed annually. You have three options for your
distributions. You may:
o reinvest all of them in additional Fund shares without a sales charge;
o take distributions of net investment income in cash or as a deposit in a
pre-assigned bank account and reinvest distributions of net capital gain in
additional shares; or
o take all distributions in cash or as a deposit in a pre-assigned bank
account.
If you don't select an option when you open your account, we'll reinvest all
distributions. If your distributions are reinvested, they will be in the form
of shares of the same class. The taxation of dividends won't be affected by the
form in which you receive them.
Dividends of net investment income are usually taxable as ordinary income at
the federal, state and local levels. The state or municipality where you live
may not charge you state and local taxes on tax-exempt interest earned on
certain bonds. Dividends earned on bonds issued by the U.S. government and its
agencies may also be exempt from some types of state and local taxes.
If you receive distributions of net capital gain, the tax rate will be based on
how long the Fund held a particular asset, not on how long you have owned your
shares. If you buy shares just before a distribution, you will pay tax on the
entire amount of the taxable distribution you receive, even though the NAV will
be higher on that date because it includes the distribution amount.
The Balanced Fund expects that its distributions will consist primarily of
ordinary income.
Early in each calendar year, the Fund will send you a notice showing the amount
of distributions you received in the preceding year and the tax status of those
distributions.
The above is a general summary of tax implications of investing in the Fund.
Please consult your tax adviser to see how investing in the Fund will affect
your own tax situation. [Chase logo]
17
<PAGE>
SHAREHOLDER SERVICES
- --------------------------------------------------------------------------------
SYSTEMATIC INVESTMENT PLAN
You can regularly invest $100 or more in the first or third week of any month.
The money is automatically deducted from your checking or savings account.
You can set up a plan when you open an account by completing the appropriate
section of the application. Current shareholders can join by sending a signed
letter and a deposit slip or void check to the Chase Vista Funds Service
Center. Call 1-800-34-VISTA for complete instructions.
SYSTEMATIC WITHDRAWAL PLAN
You can make regular withdrawals of $50 or more ($100 or more for Class B
accounts). You can have automatic withdrawals made monthly, quarterly or
semiannually. Your account must contain at least $5,000 to start the plan. Call
1-800-34-VISTA for complete instructions.
SYSTEMATIC EXCHANGE
You can transfer assets automatically from one Vista account to another on a
regular basis. It's a free service.
REINSTATEMENT PRIVILEGE
You can buy back Class A shares you sell, without paying a sales charge, as
long as you make a request in writing within 90 days of the sale. [Chase logo]
18
<PAGE>
What the terms mean
COLLATERALIZED MORTGAGE OBLIGATIONS: debt securities that are collateralized by
a portfolio of mortgages or mortgage-backed securities.
DEBT SECURITIES: securities used by issuers, such as governmental entities
and corporations, to borrow money. The issuer usually pays a fixed, variable or
floating rate of interest and repays the amount borrowed at the maturity date
of the security. However, if a borrower issues a zero coupon debt security, it
does not make regular interest payments.
DEPOSITARY RECEIPTS: instruments which are typically issued by financial
institutions and which represent ownership of securities of foreign
corporations. Depositary receipts are usually designed for use on U.S. and
European securities exchanges.
DISTRIBUTION FEE: covers the cost of the distribution system used to sell
shares to the public.
FUNDAMENTAL RESEARCH: method which concentrates on "fundamental" information
about an issuer such as its financial statements, history, management, etc.
GROWTH APPROACH: approach which focuses on identifying securities of companies
whose earnings growth potential appears to the manager to be greater than the
market in general and whose growth in revenue is expected to continue for an
extended period.
LIQUIDITY: the ability to easily convert investments into cash without losing a
significant amount of money in the process.
MANAGEMENT FEE: a fee paid to the investment adviser to manage the Fund and
make decisions about buying and selling the Fund's investments.
MATURITY: the length of time until the issuer who sold a debt security must pay
back the principal amount of the debt.
MORTGAGE-RELATED SECURITIES: securities that directly or indirectly represent
an interest in, or are secured by and paid from, mortgage loans secured by real
property.
OTHER EXPENSES: miscellaneous items, including transfer agency, administration,
shareholder servicing, custody and registration fees.
REPURCHASE AGREEMENTS: a type of short-term investment in which a dealer sells
securities to the Fund and agrees to buy them back later at a set price. The
price includes interest. In effect, the dealer is borrowing the Fund's money
for a short time, using the securities as collateral.
SHAREHOLDER SERVICE FEE: a fee to cover the cost of paying shareholder
servicing agents to provide certain support services for your account.
STRIPPED OBLIGATIONS: debt securities which are separately traded interest-only
or principal-only components of an underlying obligation.
VALUE APPROACH: approach which focuses on identifying securities that the
advisers believe are undervalued by the market as measured by certain financial
formulas. [Chase logo]
19
<PAGE>
Chase Vista Balanced Fund
The Financial Highlights table is intended to help you understand the Fund's
financial performance for each of the past five years. The total returns in the
table represent the rate an investor would have earned or lost on an investment
in the Fund (assuming reinvestment of all dividends and distributions).
The table set forth below provides selected per share data and ratios for one
Class A Share and one Class B Share.
This information is supplemented by financial statements including accompanying
notes appearing in the Fund's Annual Report to Shareholders for the year ended
October 31, 1998, which is incorporated by reference into the SAI. Shareholders
may obtain a copy of this annual report by contacting the Fund or their
Shareholder Servicing Agent.
The financial statements which include the financial information set forth
below, have been audited by PricewaterhouseCoopers LLP, independent
accountants, whose report thereon is included in the Annual Report to
Shareholders.
<TABLE>
<CAPTION>
CLASS A
Year Year Year Year Year
ended ended ended ended ended
10/31/98 10/31/97 10/31/96 10/31/95 10/31/94
PER SHARE OPERATING PERFORMANCE
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Asset Value,
Beginning of Period $15.41 $13.83 $12.45 $11.09 $11.38
- ------------------------------------------------------------------------------------------------------
Income from Investment Operations:
Net Investment Income 0.383 0.392 0.353 0.382 0.356
Net Gains or Losses in Securities
(both realized and unrealized) 1.016 2.393 1.692 1.517 (0.187)
- ------------------------------------------------------------------------------------------------------
Total from Investment Operations 1.399 2.785 2.045 1.899 0.169
Less Distributions:
Dividends from
Net Investment Income 0.389 0.395 0.345 0.408 0.359
Distributions from Capital Gains 0.980 0.810 0.320 0.131 0.100
- ------------------------------------------------------------------------------------------------------
Total Distributions 1.369 1.205 0.665 0.539 0.459
- ------------------------------------------------------------------------------------------------------
Net Asset Value, End of Period $15.44 $15.41 $13.83 $12.45 $11.09
- ------------------------------------------------------------------------------------------------------
TOTAL RETURN(1) 9.60% 21.48% 16.89% 17.70% 1.56%
======================================================================================================
</TABLE>
20
<PAGE>
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
Year Year Year Year Year
ended ended ended ended ended
10/31/98 10/31/97 10/31/96 10/31/95 10/31/94
RATIOS/SUPPLEMENTAL DATA
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Assets, End of Period
(in millions) $95 $93 $55 $34 $22
- ---------------------------------------------------------------------------------------------------
Ratio of Expenses to
Average Net Assets 1.25% 1.25% 1.25% 1.06% 0.58%
- ---------------------------------------------------------------------------------------------------
Ratio of Net Income
to Average Net Assets 2.51% 2.91% 2.97% 3.48% 3.21%
- ---------------------------------------------------------------------------------------------------
Ratio of Expenses without waivers
and assumption of expenses to
Average Net Assets 1.44% 1.52% 1.78% 2.20% 2.20%
- ---------------------------------------------------------------------------------------------------
Ratio of Net Investment Income
without waivers and assumption
of expenses to Average Net Assets 2.32% 2.64% 2.44% 2.34% 1.59%
- ---------------------------------------------------------------------------------------------------
Portfolio Turnover Rate 94% 136% 149% 68% 77%
- ---------------------------------------------------------------------------------------------------
</TABLE>
CLASS B
<TABLE>
<CAPTION>
Year Year Year Year 11/04/93**
ended ended ended ended through
10/31/98 10/31/97 10/31/96 10/31/95 10/31/94
PER SHARE OPERATING PERFORMANCE
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Asset Value, Beginning of Period $15.21 $13.70 $12.36 $11.03 $11.22
- ----------------------------------------------------------------------------------------------------------
Income from Investment Operations:
Net Investment Income 0.276 0.319 0.283 0.309 0.345
Net Gains or Losses in Securities
(both realized and unrealized) 1.003 2.326 1.656 1.502 (0.117)
- ----------------------------------------------------------------------------------------------------------
Total from Investment Operations 1.279 2.645 1.939 1.811 0.228
Less Distributions:
Dividends from Net Investment Income 0.319 0.325 0.279 0.131 0.318
Distributions from Capital Gains 0.980 0.810 0.320 0.350 0.100
- ----------------------------------------------------------------------------------------------------------
Total Distributions 1.299 1.135 0.599 0.481 0.418
- ----------------------------------------------------------------------------------------------------------
Net Asset Value, End of Period $15.19 $15.21 $13.70 $12.36 $11.03
- ----------------------------------------------------------------------------------------------------------
TOTAL RETURN(1) 8.89% 20.55% 16.10% 16.93% 2.17%
==========================================================================================================
RATIOS/SUPPLEMENTAL DATA
- ----------------------------------------------------------------------------------------------------------
Net Assets, End of Period
(in millions) $23 $15 $10 $6 $4
- ----------------------------------------------------------------------------------------------------------
Ratio of Expenses to
Average Net Assets 1.93% 2.04% 2.00% 1.82% 1.50%#
- ----------------------------------------------------------------------------------------------------------
Ratio of Net Income to
Average Net Assets 1.81% 2.26% 2.21% 2.68% 2.46%#
- ----------------------------------------------------------------------------------------------------------
Ratio of Expenses without waivers
and assumption of expenses to
Average Net Assets 1.93% 2.06% 2.29% 2.72% 2.69%#
- ----------------------------------------------------------------------------------------------------------
Ratio of Net Investment Income
without waivers and assumption
of expenses to Average Net Assets 1.81% 2.24% 1.92% 1.78% 1.27%#
- ----------------------------------------------------------------------------------------------------------
Portfolio Turnover Rate 94% 136% 149% 68% 77%
- ----------------------------------------------------------------------------------------------------------
</TABLE>
**Commencement of offering of class of shares.
#Short periods have been annualized.
(1)Total return figures do not include the effect of any sales load.
21
<PAGE>
HOW TO REACH US
- --------------------------------------------------------------------------------
More information
You'll find more information about
the Balanced Fund in the following documents:
ANNUAL AND SEMI-ANNUAL REPORTS
Our annual and semi-annual reports contain more information about the Fund's
investments and performance. The annual report also includes details about the
market conditions and investment strategies that had a significant effect on
the Fund's performance during the last fiscal year.
STATEMENT OF ADDITIONAL
INFORMATION (SAI)
The SAI contains more detailed information about the Fund and its policies. It
is incorporated by reference into this prospectus. That means, by law, it's
considered to be part of this prospectus.
You can get a free copy of these documents and other information, or ask us any
questions, by calling us at 1-800-34-VISTA or writing to:
Chase Vista Fund Service Center
P.O. Box 419392
Kansas City, MO 64141-6392
If you buy your shares through The Chase Manhattan Bank or another institution,
you should contact that institution directly for more information. You can also
find information on-line at www.chasevista.com on the internet.
You can write the SEC's Public Reference Room and ask them to mail you
information about the Fund, including the SAI. They'll charge you a copying fee
for this service. You can also visit the Public Reference Section and copy the
documents while you're there.
Public Reference Section of the SEC
Washington, DC 20549-6009.
1-800-SEC-0330
Reports, a copy of the SAI and other information about the Fund is also
available on the SEC's website at http://www.sec.gov.
The Fund's Investment Company Act File No. is 811-5151
(C) The Chase Manhattan Corporation, 1999, 2000. All Rights Reserved.
August 1999
[Chase logo]
Chase Vista Funds Fulfillment Center
393 Manley Street
West Bridgewater, MA 02379-1039
<PAGE>
PART C
MUTUAL FUND GROUP
PART C. OTHER INFORMATION
ITEM 23. Exhibits
Exhibit
Number
- -------
1(a) Declaration of Trust, as amended. (1)
1(b) Certificate of Amendment to Declaration of Trust dated December 14,
1995.(6)
1(c) Certificate of Amendment to Declaration of Trust dated October 19,
1995.(6)
1(d) Certificate of Amendment to Declaration of Trust dated July 25,
1993.(6)
1(e) Certificate of Amendment to Declaration of Trust dated
November 1997.(10)
1(f) Certificate of Amendment to Declaration of Trust dated June 5,
1998.(12)
2 By-laws, as amended. (1)
3 None.
4(a) Form of Investment Advisory Agreement.(6)
4(b) Form of Sub-Advisory Agreement between The Chase Manhattan
Bank and Chase Asset Management, Inc.(6)
5 Distribution and Sub-Administration Agreement dated August 21,
1995.(6)
6(a) Retirement Plan for Eligible Trustees.(6)
6(b) Deferred Compensation Plan for Eligible Trustees.(6)
7 Custodian Agreement. (1)
8(a) Transfer Agency Agreement. (1)
8(b) Form of Shareholder Servicing Agreement. (6)
C-1
<PAGE>
8(c) Form of Administration Agreement.(6)
9 Opinion re: Legality of Securities being Registered.(1)
10 Consent of Price Waterhouse LLP.(13)
11 In Part B: Financial Statements and the Reports
thereon for the Funds filed herein are
incorporated by reference into Part B
as part of the 1997 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 30, 1998,
accession number 0000950146-98-002170,
0000950146-98-002168, 0000950146-98-002171,
0000950146-98-002172, and 0000950146-98-002174
which are incorporated into Part B by reference.
12 None.
13(a) Rule 12b-1 Distribution Plan of Mutual Funds including
Selected Dealer Agreement and Shareholder Service Agreement. (1)
13(b) Rule 12b-1 Distribution Plan - Class B Shares (including forms of
Selected Dealer Agreement and Shareholder Servicing Agreement).(6)
13(c) Form of Rule 12b-1 Distribution Plan - Class C Shares (including
forms of Shareholder Servicing Agreements).(9)
14 Financial Data Schedule.(11)
15 Form of Rule 18f-3 Multi-Class Plan.(6)
99(a) Powers of Attorney for: Fergus Reid, III, H. Richard Vartabedian,
William J. Armstrong, John R.H. Blum, Stuart W. Cragin, Jr., Roland
R. Eppley, Jr., Joseph J. Harkins, W.D. MacCallan, W. Perry Neff,
Richard E. Ten Haken, Irving L. Thode.(8)
99(b) Powers of Attorney for: Sarah E. Jones and Leonard M. Spalding,
Jr.(9)
- --------------------
(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. 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.
(3) 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.
(4) 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.
(5) 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.
(6) 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.
(7) Filed as an Exhibit to Amendment No. 42 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) on February 28, 1997.
(8) Incorporated by reference to Post-Effective Amendment No. 7 to the
Registration Statement on Form N-1A of Mutual Fund Trust (File No.
33-75250) as filed with the Securities and Exchange Commission on September
6, 1996.
(9) Filed as an Exhibit to Amendment No. 45 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) filed on October 28, 1997.
(10) Filed as an Exhibit to Amendment No. 46 to the Registration Statement on
Form N-1A of the Registrant (File No. 33-14196) filed on December 1, 1997.
(11) Filed as an Exhibit to Amendment No. 50 to the Registration Statement on
Form N-1A on February 27, 1998.
(12) Filed as an Exhibit to Amendment No. 53 to the Registration Statement on
Form N-1A on June 29, 1998.
(13) Filed as an exhibit to Amendment No. 59 to the Registration Statement on
Form N-1A on May 21, 1999.
ITEM 24. Persons Controlled by or Under Common
Control with Registrant
Not applicable
C-2
<PAGE>
ITEM 25. 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 26(a). Business and Other Connections of Investment Adviser
The Chase Manhattan Bank (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 President and Chief Operating Officer Chairman, Chief Executive Officer
and Director and a Director of The Chase
Manhattan Corporation and a Director
of AMAX, Inc.
M. Anthony Burns Director Chairman of the Board, President
and Chief Executive Officer of
Ryder System, Inc.
</TABLE>
C-4
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
H. Laurance Fuller Director Chairman, President, Chief
Executive Officer and Director of
Amoco Corporation and Director of
Abbott Laboratories
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.
</TABLE>
C-5
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
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.
Frank A. Bennack, Jr. Director President and Chief Executive Officer
The Hearst Corporation
Susan V. Berresford Director President, The Ford Foundation
Melvin R. Goodes Director Chairman of the Board and Chief Executive
Officer, The Warner-Lambert Company
George V. Grune Director Retired Chairman and Chief Executive
Officer, The Reader's Digest Association,
Inc.; Chairman, The DeWitt Wallace-
Reader's Digest Fund; The Lila-Wallace
Reader's Digest Fund
William B. Harrison, Jr. Vice Chairman of the Board
Harold S. Hook Director Chairman and Chief Executive Officer,
General Corporation
Helen L. Kaplan Director Of Counsel, Skadden, Arps, Slate, Meagher
& Flom
Walter V. Shipley Chairman of the Board and
Chief Executive Officer
Andrew C. Sigler Director Chairman of the Board and Chief
Executive Officer, Champion International
Corporation
John R. Stafford Director Chairman, President and Chief Executive
Officer, American Home Products
Corporation
Marina v. N. Whitman Director Professor of Business Administration and
Public Policy, University of Michigan
</TABLE>
C-6
<PAGE>
Item 26(b)
Chase Asset Management ("CAM") is an Investment Advisor providing investment
services to institutional clients.
To the knowledge of the Registrant, none of the Directors or executive
officers of the CAM, 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 CAM also hold or have held various positions with bank
and non-bank affiliates of the Advisor, including its parent, The Chase
Manhattan Corporation.
<TABLE>
<CAPTION>
Principal Occupation or Other
Position with Employment of a Substantial
Name the Sub-Advisor Nature During Past Two Years
- ---- --------------- ----------------------------
<S> <C> <C>
James Zeigon Chairman and Director Director of Chase
Asset Management
(London) Limited
Steven Prostano Executive Vice President Chief Operating Officer
and Chief Operating Officer and Director of Chase
Asset Management
(London) Limited
Mark Richardson President and Chief Chief Investment Officer
Investment Officer and Director of Chase
Asset Management
(London) Limited
</TABLE>
Item 26(c)
Chase Asset Management (London) Limited ("CAM London") is an Investment
Advisor providing investment services to institutional clients.
To the knowledge of the Registrant, none of the Directors or executive
officers of CAM London, 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 CAM London also hold or have held various positions
with bank and non-bank affiliates of the Advisor, including its parent, The
Chase Manhattan Corporation.
<TABLE>
<CAPTION>
Principal Occupation or Other
Position with Employment of a Substantial
Name the Sub-Advisor Nature During Past Two Years
- ---- --------------- ----------------------------
<S> <C> <C>
Michael Browne Director Fund Manager, The Chase Manhattan
Bank, N.A.; Fund Manager, BZW
Investment Management
David Gordon Ross Director Head of Global Fixed Income
Management, Chase Asset Management,
Inc.; Vice President, The Chase
Manhattan Bank, N.A.
Brian Harte Director Investment Manager, The Chase
Manhattan Bank, N.A.
Cornelia L. Kiley Director
James Zeigon Director Chairman and Director of Chase
Asset Management, Inc.
Mark Richardson Chief Investment Director, President and Chief
Officer and Director Operating Officer of Chase Asset
Management, Inc.
Steve Prostano Chief Operating Director, Executive Vice President
Officer and and Chief Operating Officer of Chase
Director Asset Management, Inc.
</TABLE>
C-7
<PAGE>
ITEM 27. Principal Underwriters
(a) Vista Fund Distributors, Inc., a wholly-owned subsidiary of
The BISYS Group, Inc. is the underwriter for Mutual Fund Group, Mutual Fund
Trust and Mutual Fund Select Trust.
(b) The following are the Directors and officers of Vista Fund
Distributors, Inc. The principal business address of each of these persons, is
listed below.
<TABLE>
<CAPTION>
Position and Offices Position and Offices
Name and Address with Distributor with the Registrant
- ---------------- -------------------- --------------------
<S> <C> <C>
Lynn J. Mangum Chairman None
150 Clove Street
Little Falls, NJ 07424
Robert J. McMullan Director and Exec. Vice President None
150 Clove Street
Little Falls, NJ 07424
Lee W. Schultheis President None
101 Park Avenue, 16th Floor
New York, NY 10178
George O. Martinez Senior Vice President None
3435 Stelzer Road
Columbus, OH 43219
Irimga McKay Vice President None
1230 Columbia Street
5th Floor, Suite 500
San Diego, CA 92101
Michael Burns Vice President/Compliance None
3435 Stelzer Road
Columbus, OH 43219
William Blundin Vice President None
125 West 55th Avenue
11th Floor
New York, NY 10019
Dennis Sheehan Vice President None
150 Clove Street
Little Falls, NJ 07424
Annamaria Porcaro Assistant Secretary None
150 Clove Street
Little Falls, NJ 97424
Robert Tuch Assistant Secretary None
3435 Stelzer Road
Columbus, OH 43219
Stephen Mintos Executive Vice President/COO None
3435 Stelzer Road
Columbus, OH 43219
Dale Smith Vice President/CFO None
3435 Stelzer Road
Columbus, OH 43219
William J. Tomko Vice President None
3435 Stelzer Road
Columbus, OH 43219
</TABLE>
(c) Not applicable
C-8
<PAGE>
ITEM 28. 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:
<TABLE>
<CAPTION>
Name Address
---- -------
<S> <C>
Vista Fund Distributors, Inc. One Chase Manhattan Plaza, 3rd Floor
New York, NY 10081
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
Chase Asset Management, Ltd. (London) Colvile House
32 Curzon Street
London, England W1Y8AL
The Chase Manhattan Bank One Chase Square,
Rochester, NY 14363
</TABLE>
ITEM 29. Management Services
Not applicable
ITEM 30. Undertakings
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.
C-9
<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 requirements
for effectiveness 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 19th day of
August, 1999.
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 19, 1999
- -------------------------------
Fergus Reid, III
/s/ H. Richard Vartabedian President August 19, 1999
- ------------------------------- and Trustee
H. Richard Vartabedian
* Trustee August 19, 1999
- -------------------------------
William J. Armstrong
* Trustee August 19, 1999
- -------------------------------
John R.H. Blum
* Trustee August 19, 1999
- -------------------------------
Stuart W. Cragin, Jr.
*
- ------------------------------- Trustee August 19, 1999
Roland R. Eppley, Jr.
* Trustee August 19, 1999
- -------------------------------
Joseph J. Harkins
* Trustee August 19, 1999
- -------------------------------
Sarah E. Jones
*
- ------------------------------- Trustee August 19, 1999
W.D. MacCallan
*
- ------------------------------- Trustee August 19, 1999
W. Perry Neff
* Trustee August 19, 1999
- -------------------------------
Leonard M. Spalding, Jr.
* Trustee August 19, 1999
- -------------------------------
Irv Thode
* Trustee August 19, 1999
- -------------------------------
Richard E. Ten Haken
/s/ Martin R. Dean Treasurer and August 19, 1999
- ------------------------------- Principal Financial
Martin R. Dean Officer
/s/ H. Richard Vartabedian Attorney in August 19, 1999
- ------------------------------- Fact
H. Richard Vartabedian
