MUTUAL FUND GROUP/MA, 485APOS, 2000-12-05

MUTUAL FUND GROUP/MA
485APOS, 2000-12-05

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As filed via EDGAR with the Securities and Exchange Commission on

December 5, 2000

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. 68 |X|

and

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |

Post-Effective Amendment No. 108 |X|
-------------------------------

MUTUAL FUND GROUP
(Exact Name of Registrant as Specified in Charter)

1211 Avenue of the Americas
New York, New York 10036
--------------------------------------------------
(Address of Principal Executive Office)

Registrant's Telephone Number, including Area Code: (212) 492-1600

Lisa Hurley Peter Eldridge, Esq. Sarah Cogan, 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
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(Name and Address of Agent for Service)

It is proposed that this filing will become effective:

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, 1999 was
filed on January 19, 2000.

<PAGE>
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SUBJECT TO COMPLETION -- DECEMBER 1, 2000
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U.S. TREASURY
INCOME FUND

Chase Vista
Bond Funds

THIS PROSPECTUS OFFERS:

INSTITUTIONAL CLASS SHARES

The Securities and
Exchange Commission has
not approved or
disapproved these
securities or determined
if this prospectus is
truthful or complete.
Any representation to the
contrary is a criminal
offense.

Prospectus , 2000

[CHASE VISTA FUNDS(SM) LOGO]

PSBD1-1-XXXX

The information in this prospectus is not complete and may be changed. We may
not sell these securities until the registration statement filed with the
Securities and Exchange Commission is effective. The prospectus is not an offer
to sell these securities and is not soliciting an offer to buy these securities
in any state where the offer or sale is not permitted.
<PAGE>

U.S. TREASURY INCOME FUND 1

-----------------------------------------------
THE FUND'S INVESTMENT ADVISER 8
-----------------------------------------------

HOW YOUR ACCOUNT WORKS 10
BUYING FUND SHARES 10
SELLING FUND SHARES 11
OTHER INFORMATION CONCERNING THE FUND 12
DISTRIBUTIONS AND TAXES 13

-----------------------------------------------
WHAT THE TERMS MEAN 15
-----------------------------------------------

-----------------------------------------------
HOW TO REACH US Back cover
-----------------------------------------------
</TABLE>
<PAGE>

--------------------------------------------------------------------------------
CHASE VISTA U.S. TREASURY INCOME FUND
--------------------------------------------------------------------------------

[BEGIN SIDE BAR]

The Fund's
objective

The Fund seeks to
provide investors
with monthly
dividends while still
protecting the value
of their investment.

[END SIDE BAR]

The Fund's main
investment strategy

Under normal circumstances, the Fund will invest at least 65% of its total
assets in:

o debt securities issued by the U.S. Treasury, and

o repurchase agreements in which the Fund receives these securities as
collateral.

The Fund may also invest in debt securities issued or guaranteed by U.S.
government agencies or authorities. These securities may include investments in
collateralized mortgage obligations and other mortgage-related securities.

There is no restriction on the maturity of the Fund's portfolio or on any
individual security in the portfolio. The advisers will change the actual
maturities according to changes in the market.

The Fund develops an appropriate portfolio strategy based on a forecast for the
level and direction of interest rates. When making this forecast, the advisers
also determine an outlook for the interest rate horizon, an expectation of
market volatility levels and the outlook for yield curve shifts.

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 under-

1
<PAGE>

CHASE VISTA U.S. TREASURY INCOME FUND

valued. This may include selling those securities which have appreciated to
meet their tar- get 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 also invest in high-quality, short-term money market instruments,
repurchase agreements and derivatives, which are investments that have a value
based on another investment, exchange rate or index. 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.[logo]

[BEGIN SIDE BAR]

FREQUENCY OF TRADING

The Fund may trade securities
actively, which could increase
transaction costs thus lowering
performance and increase your
taxable dividends.

[END SIDE BAR]

2
<PAGE>

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 specific risks of investing in U.S.
Treasury Income Fund.

The Fund may not achieve its objective if the advisers' expectations regarding
particular securities or markets are not met.

The value of fixed income investments such as bonds tends to fall when
prevailing interest rates rise. Such a drop in value 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-backed 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 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, the
value of mortgage-related securities with prepayment features may not increase
as much as other fixed-income securities when interest rates fall.

[BEGIN SIDE BAR]

Investments in the Fund are not
deposits or obligations of, or
guaranteed or endorsed by, The
Chase Manhattan Bank or any of
its affiliates and are not insured
or guaranteed by the Federal
Deposit Insurance Corporation,
the Federal Reserve Board or any
other government agency.

[END SIDE BAR]

3
<PAGE>

CHASE VISTA U.S. TREASURY INCOME FUND

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.

While the principal and payments on certain of the Fund's portfolio securities
may be guaranteed, this does not mean that the market value of the security, or
the value of Fund shares, is guaranteed.

Repurchase agreements involve some risk to the Fund if the other party does not
live up to its part of the agreement.

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, derivatives could cause losses that
exceed the Fund's original investment.

The Fund is not diversified. It may invest a greater percentage of its assets
in a particular issuer or group of issuers than a diversified fund would. That
makes the value of its shares more sensitive to economic problems among those
issuing the securities.[logo]

4
<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 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 one, five and 10 years. It compares that
performance to the Lehman U.S. Government Index and the Lehman Treasury Bond
Index, two widely recognized market benchmarks, and the Lipper General U.S.
Government Funds Index, representing the performance of the 30 largest U.S.
government income funds. In the past, the Fund has compared its performance to
the Lehman Treasury Bond Index, but in the future, the Fund intends to compare
its performance to the Lehman U.S. Government Index instead. It is believed
that the new benchmark is more appropriate since it more accurately reflects
the Fund's investment strategy.

Because Institutional Class shares were not launched until -------------- , the
performance shown is based on performance for Class A shares of the Fund.

The calculations assume that all dividends and distributions are reinvested in
the Fund. Some of the companies that provide services to the Fund have in the
past agreed not to collect some expenses and to reimburse others. Without these
agreements, the performance figures would be lower than those shown.[logo]

[BEGIN BAR CHART PLOT POINTS]

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. A front-end
sales load is not assessed on Institutional Class shares.
<TABLE>
<S> <C>
-----------------------------------------------
BEST QUARTER 5.87%
-----------------------------------------------
2nd quarter, 1995

-----------------------------------------------
WORST QUARTER -2.98%
-----------------------------------------------
1st quarter, 1994
</TABLE>

5
<PAGE>

CHASE VISTA U.S. TREASURY INCOME FUND

AVERAGE ANNUAL TOTAL RETURNS
For the periods ending December 31, 2000

<TABLE>
<CAPTION>
PAST 1 YEAR PAST 5 YEARS PAST 10 YEARS
<S> <C> <C> <C>
--------------------------------------------------------------------------------
INSTITUTIONAL CLASS SHARES
--------------------------------------------------------------------------------
LEHMAN U.S. GOVERNMENT INDEX
--------------------------------------------------------------------------------
LEHMAN TREASURY BOND INDEX
--------------------------------------------------------------------------------
LIPPER GEN. U.S. GOV'T FUNDS INDEX
--------------------------------------------------------------------------------
</TABLE>

Because Institutional Class shares were not launched until __________, the
performance shown is based on performance for Class A Shares of the 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)
None.

ANNUAL FUND OPERATING EXPENSES
(EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)*

<TABLE>
<CAPTION>
TOTAL ANNUAL
MANAGEMENT DISTRIBUTION OTHER FUND OPERATING
CLASS OF SHARES FEE (12B-1) FEES EXPENSES EXPENSES
<S> <C> <C> <C> <C>
--------------------------------------------------------------------------------
INSTITUTIONAL 0.30% None 0.59% 0.89%
</TABLE>

*The table is based on estimated expenses for the current fiscal year.

The actual Management Fee is currently expected to be 0.15%, the actual Other
Expenses for Institutional Class shares are expected to be 0.40% and Total
Annual Fund Operating Expenses for Institutional Class shares are not expected
to exceed 0.55%. 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 you might incur if you invest
through a financial institution.

6
<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
o you reinvest all your dividends, 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:

<TABLE>
<CAPTION>
1 YEAR 3 YEARS 5 YEARS 10 YEARS
<S> <C> <C> <C> <C>
--------------------------------------------------------------------------------
INSTITUTIONAL CLASS SHARES $91 $284 $493 $1,096
--------------------------------------------------------------------------------
</TABLE>
7
<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 10076.

For its advisory service, Chase may receive a management fee paid monthly at
the annual rate of:

o 0.30% of the average daily net assets of the U.S. Treasury Income Fund.

Chase Fleming Asset Management (USA) Inc. (CFAM (USA)) is the sole sub-adviser
to U.S. Treasury Income Fund. CFAM (USA) is a wholly-owned subsidiary of Chase.
CFAM (USA) makes the day-to-day investment decisions for the Fund. Chase pays
CFAM (USA) a sub-advisory fee for its services. CFAM (USA) provides
discretionary investment advisory services to institutional clients. CFAM (USA)
is located at 1211 Avenue of the Americas, New York, NY 10036.

8
<PAGE>

Portfolio Managers

U.S. TREASURY INCOME FUND

A team of investment managers with Chase, led by Timothy Neumann, Head of
Taxable Core Investment Group at Chase, is responsible for the management of
the U.S. Treasury Income Fund. Mr. Neumann has been responsible for the Fund
since January 1997. Mr. Neumann has been active in the asset management
business since 1984 with experience in both managing and trading fixed income
portfolios. Before joining Chase in 1997, Mr. Neumann was the portfolio manager
for Lehman Brothers Global Asset Management mortgage-backed securities
accounts. Prior to Lehman, he managed fixed income portfolios at Allstate
Insurance.[logo]

9
<PAGE>

--------------------------------------------------------------------------------
HOW YOUR ACCOUNT WORKS
--------------------------------------------------------------------------------

Buying Fund shares

You don't pay any sales charge (sometimes called a load) when you buy
Institutional shares in the Fund. The price you pay for your shares is the net
asset value per share (NAV). NAV is the value of everything the particular Fund
owns, minus everything it owes, divided by the number of shares held by
investors. The Fund generally values its assets at their market value but may
use fair value if market prices are unavailable.

The NAV of each class of shares is calculated once each day at the close of
regular trading on the New York Stock Exchange, each day the Fund is accepting
purchase orders. You'll pay the next NAV calculated after the Chase Vista Fund
Service Center receives your order in proper form. An order is in proper form
only after funds are converted into federal funds.

Only qualified investors can buy these shares. The list of qualified investors
includes institutions, trusts, partnerships, corporations, retirement plans and
fiduciary accounts opened by banks, trust companies or thrift institutions
which exercise investment authority over such accounts.

You can buy shares only through financial service firms, such as broker-dealers
and banks that have an agreement with the Fund. Shares are available on any
business day the New York Stock Exchange is open. If we receive your order by
the close of regular trading on

10
<PAGE>

the New York Stock Exchange, we'll process your order at that day's price. If
you buy through an agent and not directly from the Chase Vista Funds Service
Center, the agent could set an earlier deadline.

All purchases of Institutional shares must be paid for by federal funds wire.
If the Chase Vista Funds Service Center does not receive federal funds by 4:00
p.m. Eastern time on the day of the order, the order will be canceled. Any
funds received in connection with late orders will be invested on the following
business day. You must provide a Taxpayer Identification Number when you open
an account. The Fund has the right to reject any purchase order or to cease
offering shares at any time.

To open an account, buy or sell shares or get fund information, call the Chase
Vista Funds Service Center at 1-800-62-CHASE

MINIMUM INVESTMENTS

Investors must buy a minimum $1,000,000 worth of Institutional Shares in the
Fund to open an account. There are no minimum levels for subsequent purchases.
An investor can combine purchases of Institutional Shares of other Chase Vista
Funds (except for money market funds) in order to meet the minimum. The Fund
may waive this minimum at its discretion.[logo]

Selling Fund shares

When you sell your shares you'll receive the next NAV calculated after the
Chase Vista Funds Service Center accepts your order in proper form. In order
for you to receive that day's NAV, the Chase Vista Funds Service Center must
receive your request before the close of regular trading on the New York Stock
Exchange.

We will need the names of the registered shareholders and your account number
before we can sell your shares. We generally will wire the proceeds from the
sale to your bank account on the day after we receive your request in proper
form. Federal law allows the Fund to suspend a sale or postpone payment for
more than seven business days under unusual circumstances.

Through your financial service firms
Tell your firm which Fund you want to sell. They'll send all necessary
documents to the Chase Vista Funds Service Center.

Through the Chase Vista Funds Service Center
Call 1-800-62-CHASE. We'll send the proceeds by wire only to the bank account
on our records. We charge $10 for each transaction by wire.[logo]

Exchanging Shares

You can exchange your Institutional shares for shares in certain other Chase
Vista Funds. For tax purposes, an exchange is treated as a sale of Fund shares.
Carefully read the prospectus of the fund you want to buy before making an
exchange. Call 1-800-62-CHASE for details.

11
<PAGE>

HOW YOUR ACCOUNT WORKS

You should not exchange shares as means of short-term trading as this could
increase management cost and affect all shareholders. We reserve the right to
limit the number of exchanges or to refuse an exchange. We may also terminate
this privilege. We charge an administration fee of $5 for each exchange if you
make more than 10 exchanges in a year or three in a quarter. See the Statement
of Additional Information to find out more about the exchange privilege.

EXCHANGING BY PHONE

You may also use our Telephone Exchange Privilege. You can get information by
contacting the Chase Vista Funds Service Center or your investment
representative.[logo]

Other information concerning the fund

We may close your account if the balance in all Chase Vista Funds (except money
market funds) falls below $1,000,000. 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 the 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 time 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.

Vista Fund Distributors Inc. (VFD) is the distributor for the Fund. It is a
subsidiary of The BISYS Group, Inc. and is not affiliated with Chase.

The Trust 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 Institutional Shares of the Fund held by
investors serviced 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

12
<PAGE>

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.

The Fund may issue multiple classes of shares. This prospectus relates only to
Institutional shares of the Fund. Each class may have different requirements
for who may invest, and may have different sales charges and expense levels. A
person who gets compensated for selling Fund shares may receive different
amount for each class.

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. This information can
be used for a variety of purposes, including offering investment and insurance
products to shareholders.[logo]

Distributions and taxes

The Fund can earn income and it can realize capital gain. The Fund deducts any
expenses then pays out these earnings to shareholders as distributions.

The U.S. Treasury Income Fund declares dividends on a daily basis. The Fund
will distribute the net investment income monthly.

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,

13
<PAGE>

HOW YOUR ACCOUNT WORKS

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 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 only a general summary of tax implications of investing in the
Fund. Please consult your tax adviser to see how investing in a Fund will
affect your own tax situation.[logo]

14
<PAGE>

What the terms mean

COLLATERAL BOND OBLIGATIONS: Products that are collateralized by a pool of
higher yield, public or private fixed income securities.

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.

DISTRIBUTION FEE: Covers the cost of the distribution system used to sell
shares to the public.

DOLLAR-WEIGHTED AVERAGE MATURITY: The average maturity of the Fund is the
average amount of time until the issuers of the debt securities in the Fund's
portfolio must pay off the principal amount of the debt. "Dollar weighted" means
the larger the dollar value of the debt security in the Fund's portfolio, the
more weight it gets in calculating this average.

DURATION: A mathematical calculation of the average life of a bond that serves
as a useful measure of its price risk. Each year of duration represents an
expected 1% change in interest rates. For example, if a bond has an average
duration of 4 years, its price will move 4% when interest rates move 1%.

FUNDAMENTAL ANALYSIS: Method which concentrates on "fundamental" information
about an issuer such as its financial statements, history, management, etc.

LIQUIDITY: Liquidity is 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: Maturity is 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 for 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.

REVERSE REPURCHASE AGREEMENTS: A type of short-term transaction where

15
<PAGE>

HOW YOUR ACCOUNT WORKS

the Fund sells securities to a dealer and agrees to buy them back later at a
set price. In effect, the Fund is borrowing the dealer'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.

TECHNICAL ANALYSIS: Method which focuses on historical pricing trends in an
attempt to predict future price movements.

VALUE APPROACH: Approach focuses on identifying securities that the advisors
believe are undervalued by the market as measured by certain financial
formulas.

YIELD CURVE: Measure showing relationship among yields of similar bonds with
different maturities.[logo]

16
<PAGE>

--------------------------------------------------------------------------------
HOW TO REACH US
--------------------------------------------------------------------------------

More information

You'll find more information about the 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's 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 1-800-62-CHASE or writing to:

Chase Vista Funds Service Center
P.O. Box 219392
Kansas City, MO 64121-9392

Chase Vista Funds Fulfillment Center
393 Manley Street
West Bridgewater, MA 02379-1039

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 or e-mail the SEC's Public Reference Room and ask them to mail
you information about the Funds, 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 20549-0102.
1-202-942-8090
E-mail: [email protected]

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

Chase Vista Funds Fulfillment Center
393 Manley Street
West Bridgewater, MA 02379-1039

<PAGE>
<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 1999 Annual Reports to
Shareholders for such Funds as filed with the
Securities and Exchange Commission by Mutual Fund
Group on Form N-30D on January 5, 2000,
accession number 0000950146-00-000021,
0000950146-00-000023, 0000950146-00-000024, and
0000950146-00-000025 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 herewith.

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>

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-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 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 December, 2000.

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.

<TABLE>
<S> <C> <C>
* Chairman and Trustee December 5, 2000
-------------------------------
Fergus Reid, III

/s/ H. Richard Vartabedian President December 5, 2000
------------------------------- and Trustee
H. Richard Vartabedian

* Trustee December 5, 2000
-------------------------------
William J. Armstrong

* Trustee December 5, 2000
-------------------------------
John R.H. Blum

* Trustee December 5, 2000
-------------------------------
Stuart W. Cragin, Jr.

*
------------------------------- Trustee December 5, 2000
Roland R. Eppley, Jr.

* Trustee December 5, 2000
-------------------------------
Joseph J. Harkins

* Trustee December 5, 2000
-------------------------------
Sarah E. Jones

*
------------------------------- Trustee December 5, 2000
W.D. MacCallan

*
------------------------------- Trustee December 5, 2000
W. Perry Neff

* Trustee December 5, 2000
-------------------------------
Leonard M. Spalding, Jr.

* Trustee December 5, 2000
-------------------------------
Irv Thode

* Trustee December 5, 2000
-------------------------------
Richard E. Ten Haken

/s/ Martin R. Dean Treasurer and December 5, 2000
------------------------------- Principal Financial
Martin R. Dean Officer

/s/ H. Richard Vartabedian Attorney in December 5, 2000
------------------------------- Fact
H. Richard Vartabedian
</TABLE>