As filed electronically with the Securities and Exchange Commission
on September 10, 1996
Securities Act File No. 33-17957
Investment Company Act File No. 811-5366
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Post-Effective Amendment No. 26
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 27
HT INSIGHT FUNDS, INC. d/b/a HARRIS INSIGHT FUNDS
(Exact Name of Registrant as Specified in Charter)
60 State Street, Boston, MA 02109
(Address of Principal Executive Offices including Zip Code)
_________________
Registrant's Telephone Number, including Area Code: (800) 982-8782
Name and Address of Agent for Service: Copies to:
John E. Pelletier, Esq. Cameron S. Avery, Esq.
HT Insight Funds, Inc. Bell, Boyd & Lloyd
60 State Street Three First National Plaza
Boston, MA 02109 Chicago, IL 60602
_________________
It is proposed that this filing will become effective:
X immediately upon filing pursuant to paragraph (b), or
---
on _______________ pursuant to paragraph (b),
---
60 days after filing pursuant to paragraph (a),
---
75 days after filing pursuant to paragraph (a),
---
on _______________ pursuant to paragraph (a) of Rule 485.
---
If appropriate, check the following box:
___ this post-effective amendment designates a new effective
date for a previously filed post-effective amendment.
Registrant has previously filed a declaration of indefinite registration of its
shares of capital stock pursuant to Rule 24f-2 under the Investment Company Act
of 1940, as amended. Registrant's Rule 24f-2 Notice for the fiscal year ended on
December 31, 1995 was filed on February 28, 1996.
HT INSIGHT FUNDS, INC.
Registration Statement on Form N-1A
CROSS REFERENCE SHEET
Pursuant to Rule 495 (b)
under the Securities Act of 1933
_________________
<TABLE>
<CAPTION>
N-1A Item No.
Part A Location
<S> <C>
Item 1. Cover Page Cover Page
Item 2. Synopsis Expense Table; Financial Highlights
Item 3. Condensed Financial Information Financial Highlights; Calculation of
Yield and Total Return
Item 4. General Description of Registrant Cover Page; Investment Objectives and
Policies; Investment Strategies;
Investment Limitations; Highlights;
Organization and Capital Stock
Item 5. Management of the Fund Management
Item 6. Capital Stock and Other Securities Cover Page; Dividends and Distributions;
Federal Income Taxes; Account Services;
Organization and Capital Stock
Item 7. Purchase of Securities Being Offered Management; Determination of Net Asset
Value; Purchase of Shares; Exchange
Privilege; Service Plans
Item 8. Redemption or Repurchase Redemption of Shares; Exchange Privilege
Item 9. Pending Legal Proceedings Not Applicable
N-1A Item No.
Part B Location
Item 10. Cover Page Cover Page
Item 11. Table of Contents Table of Contents
Item 12. General Information and History Not Applicable
Item 13. Investment Objectives and Policies Investment Strategies; Investment
Restrictions; Portfolio Transactions
Item 14. Management of the Fund Management
Item 15. Control Persons and Principal Holders Management; Organization and Capital
of Securities Stock (Prospectus)
Item 16. Investment Advisory and Other Services Management; Service Plans; Custodian;
Independent Accountants
Item 17. Brokerage Allocation and Other Practices Portfolio Transactions
Item 18. Capital Stock and Other Securities Capital Stock
Item 19. Purchase, Redemption and Pricing of Determination of Net Asset Value;
Securities Being Offered Financial Statements
Item 20. Tax Status Federal Income Taxes
Item 21. Underwriters Management; Service Plans
Item 22. Calculation of Performance Data Calculation of Yield and Total Return
Item 23. Financial Statements Financial Statements
</TABLE>
Part A (the Prospectus)
Part A of this Post-Effective Amendment No. 26 to the Registration Statement
includes the "Financial Highlights" for the Harris Insight Hemisphere Free Trade
Fund (the "Fund") on the following pages and incorporates by reference thereto
the Fund's prospectus contained in Part A of Registrant's Post-Effective
Amendment No. 25 filed with the Securities and Exchange Commission on February
20, 1996, and the Fund's prospectus contained in Registrant's definitive Rule
497(c) filing on March 19, 1996.
Supplement Dated September 10, 1996 to
Prospectus Dated March 1, 1996 as Revised July 1,1996
HEMISPHERE FREE TRADE FUND
CLASS A SHARES AND INSTITUTIONAL SHARES
The following tables of "FINANCIAL HIGHLIGHTS" are derived from the financial
statements of the Fund for the period ended June 30, 1996 and should be inserted
after the section entitled "EXPENSE TABLE."
<TABLE>
<CAPTION>
Institutional Shares Class A Shares
For the Period For the Period
04/09/96(5) 04/11/96(5)
to 06/30/96 to 06/30/96
<S> <C> <C>
Net Asset Value, Beginning of Period $10.00 $10.00
------------ -------------
INCOME FROM INVESTMENT OPERATIONS:
Net Investment Income 0.037 0.028
Net Realized and Unrealized Gain/(Loss)
on Investments (0.017) (0.008)
------------ -------------
Total from Investment Operations 0.020 0.020
------------ -------------
LESS DISTRIBUTIONS:
Net Investment Income 0.000 0.000
------------ -------------
Total Distributions 0.000 0.000
------------ -------------
Net Asset Value, End of Period $10.02 $10.02
============ =============
TOTAL RETURN(2)(3) 0.20% 0.20%
RATIOS/SUPPLEMENTAL DATA:
Net Assets, End of Period $(000) $10,018 $53
Ratios of Expenses to Average Net
Assets(1) 1.55% 1.80%
Ratio of Net Investment Income to
Average Net Assets(1) 1.60% 1.35%
Portfolio Turnover Rate 19.30% 19.30%
Average Commission Rate (4) $0.039 $0.039
_________
(1) Annualized.
(2) Total returns for periods less than one year are not annualized.
(3) Sales load is not reflected in total return.
(4) Computed by dividing the total amount of commission paid by the total number of shares purchased and sold
during the period.
(5) Date commenced operations.
</TABLE>
Part B (the Statement of Additional Information)
Part B of this Post-Effective Amendment No. 26 to the Registration Statement
includes the financial statements for the Harris Insight Hemisphere Free Trade
Fund (the "Fund") on the following pages and incorporates by reference thereto
the Fund's statement of additional information contained in Part B of
Registrant's Post-Effective Amendment No. 25 filed with the Securities and
Exchange Commission on February 20, 1996, and the Fund's statement of additional
information contained in Registrant's definitive Rule 497(c) filing on March 19,
1996.
HARRIS INSIGHT FUNDS
HEMISPHERE FUND
STATEMENT OF NET ASSETS (UNAUDITED)
JUNE 30, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SHARES VALUE+
-------- ----------
<S> <C> <C>
U.S. Securities -- 42.1%
Common Stock -- 39.9%
Aerospace -- 0.4%
Litton Industries, Inc. 800 $ 34,800
---------
AIR TRANSPORTATION -- 1.4%
AMR Corp.* 1,500 136,500
---------
APPAREL -- 1.2%
Nike, Inc. 1,200 123,300
---------
AUTOMOTIVE -- 1.9%
Chrysler Corp. 1,300 80,600
Ford Motor Co. 800 25,900
General Motors Corp. 1,700 89,037
---------
195,537
---------
BEVERAGES -- 1.3%
Pepsico, Inc. 3,600 127,350
---------
BROADCASTING -- 1.2%
NYNEX Corp. 2,500 118,750
---------
BUSINESS EQUIPMENT AND SERVICE -- 1.5%
Comdicso, Inc. 3,200 85,200
Harris Corp. 1,100 67,100
---------
152,300
---------
CHEMICALS -- 0.7%
Olin Corp. 800 71,400
---------
COMPUTER AND OFFICE EQUIPMENT -- 0.1%
Virco Manufacturing Corp. 1,200 11,550
---------
CONGLOMERATES -- 1.1%
Textron, Inc. 1,400 111,825
---------
ELECTRONICS -- 3.1%
Avnet, Inc. 2,300 96,887
Digital Equipment Corp.* 2,000 90,000
Esco Electronics Corp. Trust
Receipt 1,000 11,375
International Business
Machines Corp. 700 69,300
Sun Microsystems, Inc.* 800 47,100
---------
314,662
---------
ENERGY -- 1.6%
Mobil Corp. 1,000 112,125
Valero Energy Corp. 2,000 50,000
---------
162,125
---------
</TABLE>
<TABLE>
<CAPTION>
SHARES VALUE+
--------- -----------
<S> <C> <C>
FINANCIAL SERVICES -- 0.6%
Aviall 1,000 $ 9,250
Travelers Group 1,200 54,750
---------
64,000
---------
FOOD AND AGRICULTURE -- 1.9%
IBP Inc. 4,600 127,075
Sara Lee Corp. 1,100 35,613
Supervalu, Inc. 1,000 31,500
---------
194,188
---------
FINANCIAL SERVICES -- 6.9%
Bankamerica Corp. 1,700 128,775
Bear Stearns Co. 5,040 119,070
Chase Manhattan Corp. 1,900 134,188
Cigna Corp. 1,300 153,238
Merrill Lynch & Co., Inc. 600 39,075
NationsBank Corp. 1,400 115,675
---------
690,021
---------
HEALTH CARE -- 1.4%
Baxter International, Inc. 2,900 137,025
---------
HOSPITAL SUPPLIES AND SERVICES -- 1.0%
Becton, Dickinson & Co. 1,300 104,325
---------
INSURANCE -- 0.4%
Aetna Life & Casualty Co. 600 42,900
---------
INDUSTRIAL EQUIPMENT -- 0.2%
Deere & Co. 600 24,000
---------
MACHINERY AND HEAVY EQUIPMENT -- 0.5%
Gardner Denver Machinery,
Inc. 1,700 44,838
---------
MULTI-INDUSTRY -- 1.1%
Gencorp, Inc. 7,000 105,875
---------
OIL DOMESTIC -- 0.4%
El Paso Natural Gas 1,000 38,500
OIL -- INTERNATIONAL -- 3.3%
Exxon Corp. 1,400 121,625
Phillips Petroleum Co. 3,000 125,625
Texaco, Inc. 1,000 83,875
---------
331,125
---------
</TABLE>
See Notes to Financial Statements.
67
HARRIS INSIGHT FUNDS
HEMISPHERE FUND
STATEMENT OF NET ASSETS (UNAUDITED)(CONTINUED)
JUNE 30, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SHARES VALUE+
------- ----------
<S> <C> <C>
PHARMACEUTICALS -- 2.3%
Bristol-myers Squibb Co. 1,000 $ 90,000
Merck & Co., Inc. 900 58,163
Rhone Poulenc Rorer 1,000 67,125
Schering Plough Corp. 300 18,825
---------
234,113
---------
RETAIL -- 0.5%
Sears, Roebuck & Co. 1,000 48,625
---------
Telecommunications -- 2.3%
AT&T CORP. 1,900 117,800
Sprint Corp. 2,800 117,600
---------
235,400
---------
TOBACCO -- 0.6%
Philip Morris Cos., Inc. 600 62,400
---------
UTILITIES -- ELECTRIC -- 1.0%
Edison International 5,800 102,224
---------
TOTAL U.S. COMMON STOCK (Cost $3,909,732) 4,019,658
---------
TEMPORARY INVESTMENTS -- 2.2%
Dreyfus Cash Management Plus
#719 157,244 157,244
Goldman Sachs Financial
Square Money Market Portfolio 60,323 60,323
---------
TOTAL U.S. TEMPORARY INVESTMENTS
(Cost $217,567) 217,567
---------
TOTAL U.S. SECURITIES (Cost $4,127,299) 4,237,225
---------
CANADIAN SECURITIES -- 28.2%
COMMON STOCK -- 28.2%
COMMUNICATION MEDIA -- 0.8%
Thomson Corp. 5,300 81,837
---------
CONGLOMERATES -- 1.0%
Canadian Pacific Ltd. 4,500 97,969
---------
CONSUMER PRODUCTS -- 0.9%
CCL Industries, Inc. 10,000 94,036
---------
FINANCIAL SERVICES -- 0.9%
Newcourt Credit Group, Inc. 3,700 89,488
---------
GOLD AND SILVER -- 3.5%
Bre-x Minerals Ltd.* 5,500 91,163
Dayton Mining Corp.* 15,000 90,011
Placer Dome, Inc. 3,300 81,866
Teck Corp. 4,300 88,580
---------
351,620
---------
</TABLE>
<TABLE>
<CAPTION>
SHARES VALUE+
------- ----------
<S> <C> <C>
INDUSTRIAL PRODUCTS -- 7.5%
Ats Automation Tooling
System* 3,700 $ 84,614
Bombardier, Inc. 8,700 127,651
CAE, Inc. 14,000 118,844
Cinram Ltd. 5,000 108,306
Dofasco, Inc. 5,800 84,464
Northern Telecom Ltd. 2,200 116,722
Nova Corporation 7,900 71,398
United Dominion Industries
Ltd. 2,000 45,737
---------
757,736
---------
MERCHANDISING -- 1.8%
Extendicare, Inc.* 7,500 90,834
Loewen Group, Inc. 3,100 93,465
---------
184,299
---------
METALS AND MINING -- 3.8%
Alcan Aluminium Ltd. 3,600 109,067
Cameco Corp. 2,250 102,168
Falconbridge, Ltd. 4,000 86,352
Noranda, Inc. 4,100 83,560
---------
381,147
---------
OIL AND GAS -- 4.6%
Berkley Petroleum
Corporation* 8,000 106,842
Canadian Natural Resources
Ltd.* 3,300 60,977
Northstar Energy Corporation* 9,300 90,176
Renaissance Energy Ltd.* 4,500 118,222
Startech Energy, Inc.* 13,000 86,096
---------
462,313
---------
PAPER-FOREST PRODUCTS -- 1.3%
Donohue, Inc. 4,300 55,697
International Forest Products
Class A* 9,100 79,912
---------
135,609
---------
UTILITIES -- 2.1%
BCE, Inc. 3,700 144,723
Fonorola, Inc.* 7,200 65,862
---------
210,585
---------
TOTAL CANADIAN SECURITIES (Cost $2,874,004) 2,846,639
---------
</TABLE>
See Notes to Financial Statements.
68
HARRIS INSIGHT FUNDS
HEMISPHERE FUND
STATEMENT OF NET ASSETS (UNAUDITED)(CONTINUED)
JUNE 30, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SHARES VALUE+
-------- ---------
<S> <C> <C>
MEXICAN SECURITIES -- 29.3%
COMMON STOCK -- 27.2%
AUTO PARTS -- 1.1%
Corporacion Industrial San
Luis S.a. De C.V. 18,000 $ 109,895
---------
BEVERAGES -- 3.5%
Coca Cola Femsa S.A. de C.V. 25,000 72,533
Fomento Economico Mexicano,
S.A. de C.V. 37,000 105,645
Grupo Modelo S.A. -- Series C 38,000 178,500
---------
356,678
---------
BROADCASTING -- 2.2%
Grupo Televisa S.A. de C.V.* 5,000 78,289
Telefonos De Mexico S.A. de
C.V. 85,000 144,053
---------
222,342
---------
BUILDING AND CONSTRUCTION -- 2.5%
Apasco A, S.A. de C.V. 25,000 137,171
Empresas ICA Sociedad
Controladora S.A.* 8,000 112,105
---------
249,276
---------
ELECTRONICS -- 1.3%
Grupo Elektra S.A. de C.V. 18,000 129,553
---------
FOOD AND AGRICULTURE -- 1.4%
Grupo Industrial Maseca S.A.
de C.V. Series B 137,000 142,047
---------
</TABLE>
<TABLE>
<CAPTION>
SHARES VALUE+
------- ---------
<S> <C> <C>
METALS AND MINING -- 5.3%
Altos Hornos de Mexico S.A. de
C.V.* 17,000 $ 138,013
Grupo Mexico S.A. -- Series B* 37,000 113,434
Hylsamex S.A. de C.V. Series B 36,000 157,026
Industrias Penoles S.A. -- CP 27,000 123,276
---------
531,749
---------
MULTI-INDUSTRY -- 3.1%
Alfa S.A. de C.V. Ser'A'NPV
(CPO) 34,573 155,124
Grupo Carso S.A. de C.V.* 22,000 155,447
---------
310,571
---------
PAPER AND FOREST PRODUCTS -- 2.2%
Kimberly-clark de Mexico
Series A 12,000 217,895
---------
RAW MATERIALS -- 1.5%
Cemex S.A. de C.V. (CPO) 42,000 151,697
---------
RETAIL -- 1.0%
Cifra S.A. de C.V.* 74,000 105,158
---------
TRANSPORTATION -- 0.9%
Transportacion Maritima
Mexicana S.A. de C.V. 12,000 86,842
---------
TOBACCO -- 1.2%
Empresas la Moderna S.A de C.V. 28,000 124,895
---------
TOTAL MEXICAN COMMON STOCK
(Cost $2,749,026) 2,738,598
---------
</TABLE>
See Notes to Financial Statements.
69
HARRIS INSIGHT FUNDS
HEMISPHERE FUND
STATEMENT OF NET ASSETS (UNAUDITED)(CONTINUED)
JUNE 30, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
COUPON PAR
RATE MATURITY (000) VALUE+
------- --------- ----- -----------
<S> <C> <C> <C> <C>
TREASURY BILLS -- 2.1%
Cetes B960718 (Cost $214,087) 35.60% 07/18/96 P1,600 $ 210,526
-----------
TOTAL MEXICAN SECURITIES (Cost $2,963,113) 2,949,124
-----------
TOTAL INVESTMENTS -- 99.6% (Cost $9,964,416) 10,032,988
-----------
OTHER ASSETS AND LIABILITIES -- 0.4%
Dividends and interest receivable and other assets 67,066
Accrued expenses (Note 4) (28,885)
-----------
OTHER ASSETS AND LIABILITIES, NET 38,181
-----------
NET ASSETS -- 100.0%
Applicable to 1,000,001 and 5,296 shares outstanding of Institutional Class
and Class A, respectively, $.001 par value; 100,000,000 authorized shares
(Note 9) $10,071,169
===========
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER INSTITUTIONAL CLASS SHARE
($10,018,128/1,000,001) $10.02
======
NET ASSET VALUE AND REDEMPTION PRICE PER CLASS A SHARE ($53,041/5,296) $10.02
======
MAXIMUM PUBLIC OFFERING PRICE PER CLASS A SHARE (Note 6) $10.49
======
</TABLE>
+ See Note 2a to the Financial Statements.
* Non-income producing.
P-Mexican Pesos.
See Notes to Financial Statements
70
HARRIS INSIGHT FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)
FOR THE PERIOD ENDED JUNE 30, 1996
<TABLE>
<CAPTION>
MONEY MARKET FUNDS FIXED INCOME FUNDS
------------------------------------------ ---------------------------------------------------------------
SHORT/ INTERMEDIATE
GOVERNMENT MONEY TAX-EXEMPT INTERMEDIATE BOND TAX-EXEMPT TAX-EXEMPT CONVERTIBLE
MONEY FUND FUND MONEY FUND FUND FUND(3) FUND(1) FUND(1) FUND
------------ ------------ ------------ ------------ ---------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
INCREASE (DECREASE)
IN NET ASSETS
OPERATIONS:
Net Investment
Income/ (Loss) $ 6,481,586 $ 20,184,405 $ 9,321,020 $ 5,784,988 $ 302,459 $ 3,326,180 $ 2,587,748 $ 25,852
Net Realized
Gain/(loss) On
Investment
Transactions,
Futures Contracts
And Foreign Currency
Transactions (88) -- 13 (1,371,544) (151,092) 407,021 2,915,837 20,547
Net Change In
Unrealized
Appreciation/
(depreciation)
Investments On
Futures Contracts,
And Foreign Currency
Transactions -- -- -- (6,071,474) 90,438 (6,458,629) (7,942,159) 42,203
Increase In Amortized
Market Discount -- -- 870 -- -- -- -- --
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
Increase/(decrease)
In Net Assets From
Operations 6,481,498 20,184,405 9,321,903 (1,658,030) 241,805 (2,725,428) (2,438,574) 88,602
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
DISTRIBUTIONS TO
SHAREHOLDERS (NOTES
2C AND 2E):
Net Investment
Income:
Institutional
Class (911,398) (8,067,377) (6,623,842) (4,813,245) (302,127) (3,324,749) (2,587,748) --
Class A (5,570,188) (12,127,877) (2,697,178) (1,006,217) (332) (1,431) -- (24,509)
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
Total DistributionS (6,481,586) (20,195,254) (9,321,020) (5,819,462) (302,459) (3,326,180) (2,587,748) (24,509)
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
CAPITAL SHARE
TRANSACTIONS:
Increase/(decrease)
In Net Assets From
Capital Share
Transactions In:
Institutional
Class 11,719,982 212,481,204 262,746,073 262,146,589 29,235,956 230,278,680 166,684,049 --
Class A (63,510,206) (27,441,378) (9,590,747) (48,424,497) 31,832 1,527 -- (146,011)
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
Increase/(decrease)
In Net Assets From
Capital Share
Transactions (51,790,224) 185,039,826 253,155,326 213,722,092 29,267,788 230,280,207 166,684,049 (146,011)
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
Total
Increase/(decrease)
In Net Assets (51,790,312) 185,028,977 253,156,209 206,244,600 29,207,134 224,228,599 161,657,727 (81,918)
NET ASSETS:
Beginning Of Period 282,792,779 522,425,299 382,716,459 51,814,058 40 100 100 1,170,688
------------ ------------ ------------ ------------ ----------- ------------ ------------ ----------
End Of Period $231,002,467 $707,454,276 $635,872,668 $258,058,658 $29,207,174 $224,228,699 $161,657,827 $1,088,770
============ ============ ============ ============ =========== ============ ============ ==========
</TABLE>
(1) For the period 02/26/96 (commencement of operations) to 06/30/96.
(2) For the period 04/09/96 (commencement of operations) to 06/30/96.
(3) For the period 04/16/96 (commencement of operations) to 06/30/96.
See Notes to Financial Statements.
74
<TABLE>
<CAPTION>
EQUITY FUNDS
- --------------------------------------------------------------------------------
EQUITY
EQUITY INCOME GROWTH SMALL-CAP INDEX INTERNATIONAL HEMISPHERE
FUND FUND(1) FUND(1) FUND(1) FUND(1) FUND(1) FUND(2)
- ------------ ----------- ----------- ------------ ------------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
$ 3,273,676 $ 257,348 $ 66,960 $ 316,411 $ 824,447 $ 717,392 $ 36,803
39,460,537 1,396,764 3,215,313 1,363,159 2,438,800 300,518 (86,975)
(38,102,686) (1,293,445) (1,033,876) 4,768,222 (204,052) 2,224,736 68,321
-- -- -- -- -- -- --
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
4,631,527 360,667 2,248,397 6,447,792 3,059,195 3,242,646 18,149
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
(3,451,578) (241,282) (63,697) (308,510) (789,359) (691,521) --
(260,743) (850) (21) (192) (149) (1,209) --
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
(3,712,321) (242,132) (63,718) (308,702) (789,508) (692,730) --
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
568,180,274 29,366,893 65,537,867 128,031,786 127,702,194 102,843,255 10,000,000
(62,383,904) 7,514 113,740 110,552 51,685 200,575 53,000
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
505,796,370 29,374,407 65,651,607 128,142,338 127,753,879 103,043,830 10,053,000
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
506,715,576 29,492,942 67,836,286 134,281,428 130,023,566 105,593,746 10,071,149
61,256,077 99,050 130 200 200 200 20
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
$567,971,653 $29,591,992 $67,836,416 $134,281,628 $130,023,766 $105,593,946 $10,071,169
- ------------ ----------- ----------- ------------ ------------ ------------ ------------
</TABLE>
See Notes to Financial Statements.
75
HARRIS INSIGHT FUNDS
STATEMENTS OF CHANGES -- CAPITAL STOCK ACTIVITY (UNAUDITED)(CONTINUED)
FOR THE PERIOD ENDED JUNE 30, 1996
<TABLE>
<CAPTION>
EQUITY FUNDS
----------------------------------------------------------------------------------------------------
EQUITY
EQUITY INCOME GROWTH SMALL CAP INDEX INTERNATIONAL HEMISPHERE
FUND FUND(1) FUND(1) FUND(1) FUND(1) FUND(1) FUND(2)
------------ ----------- ----------- ------------ ------------ ------------ -----------
<S> <C> <C> <C> <C> <C> <C> <C>
AMOUNT
INSTITUTIONAL CLASS:
Sold $599,333,127 $30,937,692 $67,444,971 $133,184,227 $133,514,312 $117,845,265 $10,000,000
Issued as reinvestment
of dividends 112,055 130 13 12,097 8,194 12,005 --
Redeemed (31,264,908) (1,570,929) (1,907,117) (5,164,538) (5,820,312) (15,014,015) --
------------ ----------- ----------- ------------ ------------ ------------ -----------
Net Increase/(Decrease) $568,180,274 $29,366,893 $65,537,867 $128,031,786 $127,702,194 $102,843,255 $10,000,000
============ =========== =========== ============ ============ ============ ===========
CLASS A:
Sold $ 14,189,031 $ 7,477 $ 115,211 $ 114,745 $ 53,446 $ 200,058 $ 53,000
Issued as reinvestment
of dividends 3,264,196 37 21 192 149 517 --
Redeemed (79,837,131) -- (1,492) (4,385) (1,910) -- --
------------ ----------- ----------- ------------ ------------ ------------ -----------
Net Increase/(Decrease) $(62,383,904) $ 7,514 $ 113,740 $ 110,552 $ 51,685 $ 200,575 $ 53,000
============ =========== =========== ============ ============ ============ ===========
================================================================================================================================
SHARES
INSTITUTIONAL CLASS:
Sold 39,303,924 2,310,133 3,964,150 9,327,341 7,984,105 7,524,239 1,000,000
Issued as reinvestment
of dividends 7,446 10 1 819 483 780 --
Redeemed (2,072,743) (118,633) (113,403) (358,469) (348,892) (686,709) --
------------ ----------- ----------- ------------ ------------ ------------ -----------
Net Increase/(Decrease) 37,238,627 2,191,510 3,850,748 8,969,691 7,635,696 6,838,310 1,000,000
============ =========== =========== ============ ============ ============ ===========
CLASS A:
Sold 965,705 7,972 6,583 8,028 3,153 13,296 5,295
Issued as reinvestment
of dividends 234,073 3 1 13 9 34 --
Redeemed (5,360,531) -- (91) (667) (117) -- --
------------ ----------- ----------- ------------ ------------ ------------ -----------
Net Increase/(Decrease) (4,160,753) 7,975 6,493 7,374 3,045 13,330 5,295
============ =========== =========== ============ ============ ============ ===========
</TABLE>
(1) For the Period 02/26/96 (commencement of operations) to 06/30/96.
(2) For the Period 04/09/96 (commencement of operations) to 06/30/96.
See Notes to Financial Statements.
78
HARRIS INSIGHT FUNDS
FINANCIAL HIGHLIGHTS (UNAUDITED)
(FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD)
<TABLE>
<CAPTION>
INDEX FUND INTERNATIONAL FUND HEMISPHERE FUND
------------------------------- ------------------------------ -------------------------
INSTITUTIONAL INSTITUTIONAL INSTITUTIONAL
CLASS CLASS A CLASS CLASS A CLASS CLASS A
-------------- -------------- -------------- -------------- -------------- --------------
FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD
02/26/96(6) 04/19/96(6) 02/26/96(6) 03/13/96(6) 04/09/96(6) 04/11/96(6)
TO 06/30/96 TO 06/30/96 TO 06/30/96 TO 06/30/96 TO 06/30/96 TO 06/30/96
-------------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C>
Net Asset Value, Beginning of
Period $ 16.72 $ 16.35 $ 15.04 $ 14.69 $ 10.00 $ 10.00
-------- ------- -------- ------- ------- -------
Income from Investment Operations:
Net Investment Income 0.108 0.046 0.106 0.082 0.037 0.028
Net Realized and Unrealized
Gain/(Loss) on Investments 0.295 0.702 0.366 0.739 (0.017) (0.008)
-------- ------- -------- ------- ------- -------
Total from Investment Operations 0.403 0.748 0.472 0.821 0.020 0.020
-------- ------- -------- ------- ------- -------
Less Distributions:
Net Investment Income (0.103) (0.078) (0.101) (0.101) 0.000 0.000
-------- ------- -------- ------- ------- -------
Total Distributions (0.103) (0.078) (0.101) (0.101) 0.000 0.000
-------- ------- -------- ------- ------- -------
Net Asset Value, End of Period $ 17.02 $ 17.02 $ 15.41 $ 15.41 $ 10.02 $ 10.02
======== ======= ======== ======= ======= =======
Total Return(3)(4) 2.42% 4.58% 3.14% 5.59% 0.20% 0.20%
Ratios/Supplemental Data:
Net Assets, End of Period $(000) $129,972 $ 52 $105,388 $ 206 $10,018 $ 53
Ratios of Expenses to Average Net
Assets (2) 0.45%(1) 0.58%(1) 1.32% 1.41% 1.55% 1.80%
Ratio of Net Investment Income to
Average Net Assets(2) 1.87% 2.85% 2.84% 2.71% 1.60% 1.35%
Portfolio Turnover Rate 4.08% 4.08% 5.58% 5.58% 19.30% 19.30%
Average Commission Rate(5) $ 0.041 $ 0.041 $ 0.016 $ 0.016 $ 0.039 $0.039
</TABLE>
- --------
(1) Without the voluntary waiver of fees, the annualized expense ratios for the
period ended June 30, 1996 for the Index Fund Institutional Class and Class
A shares would have been 0.46% and 0.59%, respectively.
(2) Annualized.
(3) Total returns for periods less than one year are not annualized.
(4) Sales load is not reflected in total return.
(5) Computed by dividing the total amount of commission paid by the total number
of shares purchased and sold during the period.
(6) Date commenced operations.
See Notes to Financial Statements.
88
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
JUNE 30, 1996
1. ORGANIZATION
HT Insight Funds, Inc., doing business as Harris Insight Funds (the
"Company") was incorporated in Maryland on September 16, 1987 as an open-end
diversified management investment company and currently offers seven investment
portfolios. Harris Insight Funds Trust (the "Trust") was organized as a business
trust under the laws of The Commonwealth of Massachusetts on December 6, 1995 as
an open-end diversified management investment company and is registered with
eleven investment portfolios. On February 9, 1996, Funds Distributor, Inc.
deposited $100,000 amongst the portfolios of the Trust against issue of initial
shares of each Class of shares of the portfolios of the Trust. The portfolios of
the Company and the Trust (each a "Fund" and collectively, the "Funds") are as
follows:
COMPANY:
EQUITY FUNDS:
Harris Insight Equity Fund ("Equity Fund")
Harris Insight Hemisphere Free Trade Fund ("Hemisphere Fund")
FIXED INCOME FUNDS:
Harris Insight Convertible Fund ("Convertible Fund")
Harris Insight Short/Intermediate Bond Fund ("Short/Intermediate
Fund",
formerly named the Harris Insight Managed Fixed Income Fund)
MONEY MARKET FUNDS:
Harris Insight Government Money Market Fund ("Government Money
Fund",
formerly named the Harris Insight Government Assets Fund)
Harris Insight Money Market Fund ("Money Fund", formerly named
the Harris Insight Cash
Management Fund)
Harris Insight Tax-Exempt Money Market Fund ("Tax-Exempt Money
Fund",
formerly named the Harris Insight Tax-Free Money Market Fund)
TRUST:
EQUITY FUNDS:
Harris Insight Equity Income Fund ("Equity Income Fund")
Harris Insight Growth Fund ("Growth Fund")
Harris Insight Small-Cap Opportunity Fund ("Small-Cap Fund")
Harris Insight Index Fund ("Index Fund")
Harris Insight International Fund ("International Fund")
Harris Insight Balanced Fund ("Balanced Fund")
FIXED INCOME FUNDS:
Harris Insight Convertible Securities Fund ("Convertible
Securities Fund")
Harris Insight Bond Fund ("Bond Fund")
Harris Insight Intermediate Government Bond Fund ("Intermediate
Government Fund")
Harris Insight Intermediate Tax-Exempt Bond Fund ("Intermediate
Tax-Exempt Fund")
Harris Insight Tax-Exempt Bond Fund ("Tax-Exempt Fund")
The Intermediate Government Fund, Convertible Securities Fund, Balanced Fund
and the Class A shares of the Tax-Exempt Bond Fund have not commenced operations
as of June 30, 1996. Each other Fund except for the Convertible Fund currently
offers two classes of shares: Class A shares and Institutional shares (formerly
designated Class C shares).
89
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
Each of the Money Market Funds also has registered Class B shares but does not
currently offer those shares for sale. Shares of each class of a Fund represent
equal pro rata interests in the Fund and are identical in all respects except
that Class A and Class B shares are subject to certain service organization fees
as described in Note 5. Institutional shares are not subject to service
organization fees. Each of the three classes of shares of the Money Market Funds
declares dividends daily in the same manner. Class B and Institutional shares of
the Money Market Funds were first made available in 1994.
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies used by the
Funds in the preparation of the financial statements which are in accordance
with generally accepted accounting principles. The preparation of financial
statements in accordance with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts
and disclosures in the financial statements. Actual results could differ from
those estimates.
(a) Security Valuation -- The value of securities (other than bonds and debt
obligations maturing in 60 days or less) of the Funds other than the Money
Market Funds, is determined based on the last sales price on the principal
exchange on which the securities are traded as of the close of regular trading
on the New York Stock Exchange (which is currently 4:00 P.M., New York City
time). In the absence of any sale on the valuation date, the securities are
valued at the closing bid price. Securities traded only on the over-the-counter
markets are valued at the closing over-the-counter bid prices. Portfolio
securities which are primarily traded on foreign securities exchanges are
generally valued at the closing values of such securities on their respective
exchanges, except when an occurrence subsequent to the time a value was so
established is likely to have changed such value. In such an event, the fair
value of those securities will be determined through the consideration of other
factors by or under the direction of the Board of Trustees and Board of
Directors of the Funds. Bonds are valued at the mean of the last bid and asked
prices. In the event that such prices are not readily available, securities are
valued at fair value as determined in good faith by the Board of Trustees or
Board of Directors, as the case may be. Prices used for valuations of securities
are provided by independent pricing services. Debt obligations with remaining
maturities of 60 days or less are valued at amortized cost when the Trust's
Board of Trustees or the Company's Board of Directors, as the case may be, has
determined that amortized cost valuation represents fair value.
Each of the Money Market Funds values its investments using the amortized
cost method, which involves initially valuing investments at cost and thereafter
assuming a constant amortization to maturity of any premium or discount. This
method approximates market value.
(b) Foreign Currency Translation -- The books and records of the
International Fund and the Hemisphere Fund are maintained in U.S. dollars.
Foreign currency amounts are translated into U.S. dollars on the following
basis:
(i) market value of investment securities, other assets and liabilities
at the current rate of exchange on the valuation date; and
(ii) purchases and sales of investment securities, income and expenses
at the relevant rates of exchange prevailing on the respective dates of
such transactions.
The International Fund and the Hemisphere Fund do not isolate that portion
of gains and losses on investments in securities which is due to changes in the
foreign exchange rates from that which is due to changes in the market prices of
such securities. The International Fund and the Hemisphere Fund report gains and
losses on foreign currency related transactions as realized and unrealized gains
and losses for financial reporting purposes, whereas such gains and losses, to
the extent realized, are treated as ordinary income or loss for federal income
tax purposes.
90
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
(c) Federal Income Taxes -- Each Fund intends to continue to qualify as a
regulated investment company under the Internal Revenue Code and to distribute
substantially all of its net investment income and net realized capital gains to
shareholders. Accordingly, no provision for federal income tax is required.
(d) Allocation of Expenses -- Expenses which have not been directly charged
to a specific Fund are generally allocated among the Funds primarily on the
basis of relative net assets. Expenses relating to a particular class of shares
are charged to the respective class of shares of a Fund. Non-class specific
expenses are allocated between the classes of shares of a Fund based upon the
relative net assets of the classes of shares of a Fund.
(e) Distributions -- Each of the Funds declares dividends from net
investment income. The Money Market Funds and the Fixed Income Funds (other than
Convertible Fund and Convertible Securities Fund) declare dividends each
business day to shareholders of record that day for payment on the first
business day of the following month. Dividends from the Convertible Fund,
Convertible Securities Fund and Equity Funds (other than Small-Cap Fund,
International Fund and Hemisphere Fund) are declared and paid quarterly.
Dividends from the Small-Cap Fund and the International Fund are declared and
paid semi-annually. Dividends from the Hemisphere Fund are declared and paid
annually. Each Fund's net realized capital gains, if any, are distributed
annually. Distributions to shareholders are recorded on the ex-dividend dates.
The amounts of distributions from net investment income and net realized
capital gains are determined in accordance with federal income tax regulations,
which may differ from those amounts determined under generally accepted
accounting principles. These book/tax differences are either temporary or
permanent in nature. To the extent these differences are permanent, they are
reclassified within the capital accounts to conform to their tax treatment in
the period that the difference arises.
(f) Forward currency contracts -- Each Equity Fund may enter into forward
foreign currency contracts in connection with planned purchases or sales of
securities or to hedge the U.S. dollar value of the investment securities
denominated in foreign currencies. When a Fund enters into a currency hedging
transaction, the custodian places cash or U.S. government or other high quality
short-term debt obligations or a combination thereof, in a segregated account of
the Fund in an amount equal to the value of the Fund's total assets committed to
the consummation of the forward contract, which value is adjusted on a daily
basis. If the value of the securities placed in a segregated account declines,
additional cash or securities will be placed in the account so that the value of
the account will equal the amount of the Fund's commitment with respect to the
contracts.
Risks may arise upon entering into these contracts from the potential
inability of counterparties to meet the terms of their contracts and from
unanticipated movements in the value of the foreign currency relative to the
U.S. dollar.
The aggregate principal amounts of the contracts are not recorded as the
Funds do not intend to hold the contracts to maturity. All commitments are
"marked-to-market" daily at the applicable foreign exchange rate and any
resulting unrealized gains or losses are recorded currently. The Funds realize
gains or losses at the time forward contracts are extinguished, except that
gains or losses on certain open contracts are required to be recognized for U.S.
federal income tax purposes at the close of a Fund's taxable year and are
generally treated as ordinary income for such purposes.
(g) Futures Contracts -- Each Fund may seek to hedge all or a portion of its
investments through the use of securities index and financial futures contracts.
Upon entering into a futures contract, a Fund is required to deposit an amount
("initial margin") equal to a certain percentage of the contract value.
Subsequent payments ("variation margin") are made or received by the Fund each
day, reflecting the daily change in the value of the contracts and are recorded
as an unrealized gain or loss. When the contract is closed, the Fund will
recognize a realized gain or loss.
91
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
Futures contracts are subject to the risk associated with the imperfect
correlation between movements in the price of the future contract and the price
of the securities being hedged. The risk of imperfect correlation increases with
respect to securities' index futures as the composition of the Fund's portfolio
diverges from composition of the index underlying such index futures. In
addition, there is no assurance that a liquid secondary market will exist at the
time the Fund elects to close out a futures position.
(h) Organization Expenses -- Each Fund's share of the costs incurred in
connection with the organization of the Company and the Trust have been deferred
and are being amortized over 60 months from commencement of operations of the
respective Fund.
(i) Other -- Investment transactions are recorded on trade date. Interest
income, including the amortization of discount or premium, is recorded as
earned. Discounts and premiums on securities purchased are amortized over the
lives of the respective securities. Dividend income is recorded on the
ex-dividend date.
3. REPURCHASE AGREEMENTS
Certain Funds invest in repurchase agreements. Securities pledged as
collateral for repurchase agreements are held by the custodian bank until
maturity of the repurchase agreements. Provisions of the repurchase agreements
and procedures adopted by the Funds require that the market value of the
collateral, including accrued interest thereon, is sufficient in the event of
default by the counterparty. If the counterparty defaults and the value of the
collateral declines or if the counterparty enters an insolvency proceeding,
realization of the collateral by the Funds may be delayed or limited.
4. ADVISORY, ADMINISTRATION AND DISTRIBUTION ARRANGEMENTS
The Company and the Trust retain Harris Trust & Savings Bank ("Harris
Trust") as investment adviser (the "Adviser"), pursuant to advisory
contracts for each Fund. As Adviser, Harris Trust is entitled to receive
fees payable monthly, based upon the average daily net asset value of each
Fund, at the following annual rates:
<TABLE>
<CAPTION>
<S> <C>
Each Money Market Fund 0.14% of the first $100 million
of net assets and 0.10% of net
assets over $100 million
Short/Intermediate Fund 0.70%
Bond Fund 0.65%
Intermediate Tax-Exempt Fund 0.60%
Tax-Exempt Fund 0.60%
Convertible Fund 0.70%
Equity Fund 0.70%
Equity Income Fund 0.70%
Growth Fund 0.90%
Small-Cap Fund 1.00%
Index Fund 0.25%
International Fund 1.05%
Hemisphere Fund 0.90%
</TABLE>
92
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
Harris Trust may at its discretion, voluntarily waive all or any portion of
its respective advisory fees for any Fund. For the six month period ended June
30, 1996, advisory fees and waivers for certain Funds were as follows:
<TABLE>
<CAPTION>
GROSS NET
ADVISORY FEE WAIVER ADVISORY FEE
------------ ------ ------------
<S> <C> <C> <C>
Short/Intermediate Fund $ 690,036 $ 295,098 $ 394,938
Bond Fund 34,185 17,779 16,406
Intermediate Tax-Exempt Fund 464,711 12,790 451,921
Tax-Exempt Fund 334,475 7,422 327,053
Convertible Fund 4,098 4,098 --
Growth Fund 200,051 2,725 197,326
Small-Cap Fund 433,016 2,897 430,119
Index Fund 109,987 3,462 106,525
</TABLE>
There were no advisory fee waivers for other than the above Funds.
For the period ended June 30, 1996, Harris Trust also reimbursed expenses of
$8,747 for the Convertible Fund.
Harris Trust has entered into Portfolio Management Agreements with Harris
Investment Management, Inc. ("HIM") under which HIM undertakes to furnish
investment guidance and policy direction in connection with the daily portfolio
management of the Funds, other than the Tax-Exempt Money Market Fund. HIM, as
portfolio manager, receives a fee directly from Harris Trust, not from the
Funds. Harris Trust and HIM are subsidiaries of Harris Bankcorp, Inc.
Jones Heward Investment Counsel Inc. ("JHICI") and Bancomer Asesora de
Fondos, S.A. de C.V. ("Bancomer") have each entered into an Investment
Sub-Advisory Agreement with HIM with respect to the Hemisphere Fund. Pursuant to
these agreements JHICI selects and manages the Canadian securities and Bancomer
selects and manages the Mexican securities in which the Hemisphere Fund invests.
Payments made to JHICI and Bancomer for these services are made by HIM, and are
not separate expenses of the Hemisphere Fund.
Prior to July 1, 1996, pursuant to an Administration and Accounting Service
Agreement and an Administration Agreement, the Company and the Trust retained
PFPC Inc. ("PFPC") and First Data Investor Services Group, Inc. ("First Data")
as Co-Administrator and Accounting Service Agent and Co-Administrator (the
"Co-Administrators"), respectively. PFPC also served as the transfer and
dividend disbursing agent (the "Transfer Agent") of the Funds. PNC Bank, N. A.,
served as the custodian (the "Custodian") of the Funds. PFPC and the Custodian
are indirect, wholly-owned subsidiaries of PNC Bank Corp. As compensation for
their services, the Co-Administrators, the Transfer Agent and the Custodian were
entitled to receive a combined fee based on the aggregate average daily net
assets of the Funds, payable monthly at an annual rate of 0.17% of the first
$300 million of average daily net assets; 0.15% of the next $300 million; and
0.13% of the average net assets in excess of $600 million. In addition, a
separate fee was charged by PFPC for certain retail transfer agent services and
for various custody transactional charges. During the period ended June 30,
1996, PFPC voluntarily waived fees of $15,143 for the Short/Intermediate Fund,
$1,524 for the Bond Fund, $12,277 for the Intermediate Tax-Exempt Fund and
$8,901 for the Tax-Exempt Fund.
If the total expenses, excluding certain expenses, of any of the Funds
exceed limitations imposed by certain states, Harris Trust, PFPC and First Data
are each required to reimburse the Fund for such excess in proportion to, but
not exceeding, their fees. No reimbursements to meet such state limitations were
made for the period ended June 30, 1996.
Funds Distributor, Inc. ("Funds Distributor") provides services as
distributor (the "Distributor") in connection with sales of shares of the Funds.
During the period ended June 30, 1996, fees for services rendered by the
Distributor were paid by the Co-Administrators. For the period ended June 30,
1996, Funds
93
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
Distributor advised the Funds it had received commissions of
approximately $3,524, $5,442, $915 and $80 respectively, after concessions paid
to dealers of approximately $264, $343, $63 and $5 on sales of shares of the
Short/Intermediate, Equity, Small-Cap and International Funds, respectively.
The Company and the Trust have a compensation arrangement under which
payment of directors' fees may be deferred by the directors. Interest is accrued
on the deferred balances and is included in directors' fees and expenses. The
accumulated balance of deferred directors' fees and interest thereon relating to
the Funds comprising the Company, excluding the Hemisphere Fund, on June 30,
1996 aggregated approximately $184,000, an applicable portion of which is
included in accrued expenses of each applicable Fund.
Effective July 1, 1996, the Company and the Trust have entered into an
Administration Agreement with Harris Trust (the "Administrator"). In its
capacity as the Administrator, Harris Trust will generally assist the Funds in
all aspects of their administration and operation. Harris Trust will also serve
as the transfer and dividend disbursing agent of the Funds (the "Transfer
Agent"). The Administrator has entered into a Sub-Administration Agreement with
Funds Distributor (the "Sub-Administrator"), pursuant to which the
Sub-Administrator will perform certain administrative services for the Funds.
The Administrator has also entered into a Sub- Administration and Accounting
Services Agreement with PFPC (the "Sub-Administrator and Accounting Services
Agent"). Under these Agreements, the Admistrator will compensate the
Sub-Administrator and the Sub-Administrator and Accounting Services Agent for
providing such services. Harris Trust has also entered into a Sub-Transfer
Agency Services Agreement with PFPC (the "Sub-Transfer Agent"), pursuant to
which the Sub-Transfer Agent will continue to perform certain transfer agency
and dividend disbursing agency services. Harris Trust will compensate the
Sub-Transfer Agent for providing such services. PNC Bank, N.A. will continue to
serve as the Custodian of the assets of the Funds. Under the new agreements, as
compensation for their services, Harris Trust, in its capacity as the
Administrator and Transfer Agent, and the Custodian are entitled to receive a
combined fee based on the aggregate average daily net assets of the Funds,
payable monthly at an annual rate of 0.17% of the first $300 million of average
daily net assets; 0.15% of the next $300 million; and 0.13% of the average net
assets in excess of $600 million. These fees are similar to those in effect
prior to July 1, 1996.
Certain employees of First Data were officers of the Funds during the period
ended June 30, 1996. Effective July 1, 1996, certain employees of PFPC and Funds
Distributor became officers of the Funds.
5. RULE 12B-1 OR SERVICE PLANS
The Company and the Trust have adopted Service Plans pursuant to Rule 12b-1
under the Investment Company Act of 1940, as amended, (the "Plan") for the Funds
other than with respect to Institutional Shares of the Funds.
Under the Plan for Money Market Funds, each Money Market Fund may enter into
service agreements with banks and other institutions (each a "Service
Organization") that require the Service Organization to provide certain
shareholder support services and distribution assistance in consideration of the
Fund's payment of up to 0.35% and 0.25% per annum of the average daily net asset
value of the Class A and Class B shares, respectively, held by or for the
benefit of customers of the Service Organization. Service Organization fees paid
to Harris Trust for the period ended June 30, 1996 were $285,578, $610,867 and
$244,308 (net of voluntary waivers of $113,497, $240,094 and $88,122) for the
Class A shares of Government Money Fund, Money Fund and Tax-Exempt Money Fund,
respectively. There were no Service Organization fees payable during the period
ended June 30, 1996 for the Class B shares of the Money Market Funds.
Under each of the Non-Money Market Fund Plans, each Non-Money Market Fund
may enter into service agreements with banks and other institutions
(individually, "Service Agent"). A Service Agent may receive fees with respect
to a Non-Money Market Fund's shares owned by shareholders for whom the Service
Agent is the
94
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
dealer or holder of record, or with whom the Service Agent has a
servicing relationship. Funds Distributor may act as a Service Agent and receive
fees. Fees to a Service Agent may be up to a rate of 0.25% per annum of the
average daily net asset value of Class A shares attributable to the Service
Agent. In addition to the fees paid by Class A shares of the Non-Money Market
Funds, a Non-Money Market Fund may, pursuant to the Service Plan, defray all or
part of the cost of preparing, printing and delivering promotional materials,
prospectuses and statements of additional information to prospective
shareholders of Class A shares of the Funds by paying on an annual basis up to
the greater of $100,000 or 0.05% of a Fund's average daily net assets (but not
in any case greater than such costs). As of June 30, no payments have been made
pursuant to the Non-Money Market Fund Plans.
6. PUBLIC OFFERING PRICE
Class A shares of the Non-Money Market Funds and shares of the Convertible
Fund are sold at a public offering price which is equal to the current net asset
value of such shares with a maximum sales load of 4.5%. There is no sales load
on Class A and Class B shares of Money Market Funds and the Institutional Shares
of the Funds.
7. INVESTMENT TRANSACTIONS
The cost of investments at June 30, 1996 and the net realized gains and
losses on securities sold for the period then ended for each of the Funds for
federal income tax purposes was not materially different from the amounts
reported for financial reporting purposes.
Purchases and sales of investment securities of the Non-Money Market Funds
(excluding short-term investments and U.S. government securities) during the
period ended June 30, 1996 were as follows:
<TABLE>
<CAPTION>
PURCHASES SALES
------------ ------------
<S> <C> <C>
Short/Intermediate Fund $261,898,276 $274,650,904
Bond Fund 44,804,119 18,462,293
Intermediate Tax-Exempt Fund 96,541,675 92,725,695
Tax-Exempt Fund 61,085,485 58,225,568
Convertible Fund 106,581 233,283
Equity Fund 184,674,787 197,661,096
Equity Income Fund 8,790,855 8,242,139
Growth Fund 10,107,604 359,213
Small-Cap Fund 44,342,615 42,207,563
Index Fund 8,809,906 5,449,789
International Fund 9,550,930 8,416,060
Hemisphere Fund 11,166,615 1,598,175
</TABLE>
Purchases and sales of U.S. government securities, excluding short-term
securities, of the Non-Money Market Funds during the period ended June 30, 1996
were as follows:
<TABLE>
<CAPTION>
PURCHASES SALES
------------- ------------
<S> <C> <C>
Short/Intermediate Fund $157,496,035 $235,474,368
Bond Fund 32,911,130 12,988,866
</TABLE>
95
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
At June 30, 1996, gross unrealized appreciation (depreciation) for each Fund
was as follows:
<TABLE>
<CAPTION>
NET UNREALIZED
UNREALIZED UNREALIZED APPRECIATION
APPRECIATION DEPRECIATION (DEPRECIATION)
------------ ------------ -------------
<S> <C> <C> <C>
Short/Intermediate Fund $ 1,343,462 $(2,532,266) $ (1,188,804)
Bond Fund 140,175 (49,737) 90,438
Intermediate Tax-Exempt Fund 3,522,884 (2,917,737) 605,147
Tax-Exempt Bond Fund 3,640,538 (944,290) 2,696,248
Convertible Fund 139,147 (10,104) 129,043
Equity Fund 114,828,307 (9,087,757) 105,740,550
Equity Income Fund 6,184,566 (454,566) 5,730,000
Growth Fund 20,227,025 (412,142) 19,814,883
Small-Cap Fund 46,275,614 (1,954,011) 44,321,603
Index Fund 46,151,250 (1,837,649) 44,313,601
International Fund 9,325,000 (2,569,221) 6,755,779
Hemisphere Fund 373,661 (305,089) 68,572
</TABLE>
At December 31, 1995, the Convertible Fund and the Short/Intermediate Fund
had available capital loss carryforwards of approximately $2,694,500 and
$2,100,000, respectively, that may be used to offset future net capital gains
through 1999 and 2003, respectively. Net capital losses utilized by the
Short/Intermediate Fund during the year ending December 31, 1995 were
approximately $835,000.
8. IN-KIND TRANSFER OF SECURITIES
On February 23, 1996, the following Funds issued shares of beneficial
interest in exchange for portfolio securities from common trust funds managed by
Harris Trust at their current value. The tax basis of the securities exchanged
for the shares of the Funds was carried over to the respective Funds and
included unrealized gain. The number of shares issued, the current value on the
date of transfer and the unrealized gain on securities included in the transfer
are as follows:
<TABLE>
<CAPTION>
NUMBER
OF SHARES UNREALIZED
ISSUED VALUE APPRECIATION
---------- ------------ ------------
<S> <C> <C> <C>
Short/Intermediate Fund 22,385,111 $230,561,882 $ 3,625,568
Intermediate Tax-Exempt Fund 21,132,582 226,884,514 7,063,776
Tax-Exempt Fund 15,689,395 165,704,780 10,638,407
Equity Fund 33,693,907 515,516,776 131,133,983
Equity Income Fund 2,191,705 29,234,220 7,023,445
Growth Fund 3,778,213 64,284,254 20,848,759
Small-Cap Fund 8,237,828 117,276,469 39,553,381
Index Fund 7,687,741 128,542,619 44,529,728
International Fund 6,850,804 103,009,222 4,532,268
</TABLE>
96
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
9. NET ASSETS
At June 30, 1996, net assets of each Fund consisted of:
<TABLE>
<CAPTION>
GOVERNMENT TAX-EXEMPT
MONEY FUND MONEY FUND MONEY FUND
----------- ------------- --------------
<S> <C> <C> <C>
Capital Stock at Par Value $ 231,002 $ 707,454 $ 635,878
Paid-in Capital 230,771,553 706,746,822 635,242,083
Undistributed Net Investment Income -- -- --
Accumulated Net Realized Gain (Loss) (88) -- (5,293)
Unrealized Appreciation/(Depreciation)
on Investment Transactions, Future
Contracts and Foreign Currency
Transactions -- -- --
------------ ------------ ------------
Net Assets $231,002,467 $707,454,276 $635,872,668
============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
SHORT/ INTERMEDIATE
INTERMEDIATE TAX-EXEMPT TAX-EXEMPT
FUND BOND FUND FUND FUND
------------- -------------- ------------ ----------
<S> <C> <C> <C> <C>
Capital Stock or Beneficial Interest
at Par Value $ 25,676 $ 2,934 $ 23,029 $ 15,915
Paid-in Capital 262,724,426 29,264,894 223,193,502 156,029,827
Undistributed/(overdistributed) Net
Investment Income (31,185) -- -- --
Accumulated Net Realized Gain (Loss) (3,471,455) (151,092) 407,021 2,915,837
Unrealized Appreciation/(Depreciation) on
Investment Transactions, Future Contracts
and Foreign Currency Transactions (1,188,804) 90,438 605,147 2,696,248
------------ ----------- ------------ ------------
Net Assets $258,058,658 $29,207,174 $224,228,699 $161,657,827
============ =========== ============ ============
</TABLE>
<TABLE>
<CAPTION>
EQUITY
CONVERTIBLE EQUITY INCOME GROWTH
FUND FUND FUND FUND
----------- ------------ ------------ ------------
<S> <C> <C> <C> <C>
Capital Stock or Beneficial Interest
at Par Value $ 109 $ 423,220 $ 2,210 $ 3,857
Paid-in Capital 3,630,206 422,797,224 22,447,802 44,799,121
Undistributed/(overdistributed) Net
Investment Income 3,494 (438,449) 15,216 3,242
Accumulated Net Realized Gain (Loss) (2,674,082) 39,449,108 1,396,764 3,215,313
Unrealized Appreciation/(Depreciation) on
Investment Transactions, Future Contracts
and Foreign Currency Transactions 129,043 105,740,550 5,730,000 19,814,883
----------- ------------ ----------- -----------
Net Assets $ 1,088,770 $567,971,653 $29,591,992 $67,836,416
=========== ============ =========== ===========
</TABLE>
<TABLE>
<CAPTION>
SMALL-CAP INDEX INTERNATIONAL HEMISPHERE
FUND FUND FUND FUND
----------- ------------ ----------- -----------
<S> <C> <C> <C> <C>
Capital Stock or Beneficial Interest
at Par Value $ 8,977 $ 7,639 $ 6,852 $ 1,005
Paid-in Capital 88,580,180 83,216,712 98,504,910 10,052,015
Undistributed Net Investment Income 7,709 34,939 24,662 36,803
Accumulated Net Realized Gain (Loss) 1,363,159 2,438,800 300,518 (86,975)
Unrealized Appreciation/(Depreciation) on
Investment Transactions, Future Contracts
and Foreign Currency Transactions 44,321,603 44,325,676 6,757,004 68,321
------------ ------------ ------------ -----------
Net Assets $134,281,628 $130,023,766 $105,593,946 $10,071,169
============ ============ ============ ===========
</TABLE>
97
HARRIS INSIGHT FUNDS
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) - (CONTINUED)
JUNE 30, 1996
10. CONCENTRATION OF RISKS
The Tax-Exempt Money Fund, Intermediate Tax-Exempt Fund and Tax-Exempt Bond
Fund invest primarily in a diversified portfolio of municipal securities,
including municipal bonds and debentures. The Fixed Income Funds and the Money
Market Funds invest in debt instruments. The issuers' abilities to meet their
obligations may be affected by political and economic developments in a specific
state or region or their respective industries.
The International Fund and the Hemisphere Fund invest in securities of
foreign issuers in various countries. These investments may involve certain
considerations and risks not typically associated with investments in the U.S.,
as a result of, among other factors, the possibility of future political and
economic developments and the level of governmental supervision and regulation
of securities markets in the respective countries.
98
Part C
Information required to be included in Part C is set forth under the appropriate
Item, so numbered, in Part C to this Registration Statement.
PART C
OTHER INFORMATION
Item 24. Financial Statements and Exhibits.
(a) Included in Part A of this Registration Statement:
Financial Highlights for:
Hemisphere Free Trade Fund - Institutional Class Shares from April 9,
1996 (commencement of operations) to June 30, 1996 (unaudited);
Hemisphere Free Trade Fund - Class A Shares from April 11, 1996
(commencement of operations) to June 30, 1996 (unaudited).
Included in Part B of this Registration Statement:
Audited Financial Statements as of December 31, 1995 are incorporated by
reference from the Registrant's Annual Report dated December 31, 1995 and
include the following:
For all Funds, except the Hemisphere Free Trade Fund:
Statement of Net Assets, December 31, 1995
Statement of Operations for the Year Ended December 31, 1995
Statement of Changes in Net Assets
Financial Highlights
Notes to Financial Statements
Report of Independent Accountants
For the Hemisphere Free Trade Fund:
Statement of Net Assets, June 30, 1996 (unaudited)
Statements of Operations for the Period Ended June 30, 1996 (unaudited)
Statements of Changes in Net Assets for the Period Ended June 30, 1996
(unaudited)
Statements of Changes - Capital Stock Activity for the Period Ended
June 30, 1996 (unaudited)
Financial Highlights (unaudited)
Notes to Financial Statements (unaudited)
(b) Exhibits:
Note: As used herein the term "Registration Statement" refers to the
Registration Statement of Registrant under the Securities Act of 1933 on Form
N-1A, No. 33-17957. All references to a Post-Effective Amendment ("PEA") or
Pre-Effective Amendment ("PreEA") are to Post-Effective Amendments and
Pre-Effective Amendments to the Registration Statement.
(1)(a) Articles of Incorporation (incorporated by reference to Exhibit No. 1(c)
to the Registration Statement filed on October 15, 1987).
(1)(b) Articles Supplementary to the Articles of Incorporation dated September
21, 1990 (incorporated by reference to Exhibit No.1(b) to PEA No. 5 filed on
September 5, 1990).
(1)(c) Articles Supplementary to the Articles of Incorporation dated November 4,
1992 (incorporated by reference to Exhibit No. 1(c) to PEA No. 13 filed on April
19, 1993).
(1)(d) Articles Supplementary to the Articles of Incorporation dated August 6,
1993 (incorporated by reference to Exhibit No. 1(d) to PEA No. 14 filed on
August 20, 1993).
(1)(e) Articles Supplementary to the Articles of Incorporation dated May 27,
1994 (incorporated by reference to Exhibit 1(e) to PEA No. 16 filed on June 1,
1994).
(1)(f) Articles Supplementary to the Articles of Incorporation dated July 19,
1994 (incorporated by reference to Exhibit 1(f) to PEA No. 18 filed on July 29,
1994).
(1)(g) Articles Supplementary to the Articles of Incorporation dated January 9,
1995 (incorporated by reference to Exhibit 1(g) to PEA No. 20 filed on January
23, 1995).
(1)(h) Articles Supplementary to the Articles of Incorporation dated February
21, 1996 (filed herewith).
(1)(i) Articles Supplementary to the Articles of Incorporation dated July 18,
1996 (filed herewith).
(2)(a) By-Laws (incorporated by reference to Exhibit No. 2(a) to the
Registration Statement filed on October 15, 1987).
(2)(b) Addendum to By-Laws dated July 21, 1988 (incorporated by reference to
Exhibit No. 2(b) to PEA No. 12 filed on November 30, 1992).
(2)(c) Addendum to By-Laws dated July 21, 1989 (incorporated by reference to
Exhibit No. 2(c) to PEA No. 12 filed on November 30, 1992).
(3) Not Applicable.
(4) Forms of Stock Certificate (incorporated by reference to Exhibit No. 4 to
PreEA No. 2 to the Registration Statement filed on January 29, 1988).
(5)(a) Advisory Contract on behalf of HT Insight Convertible Fund (now named
"Harris Insight Convertible Fund") dated May 1, 1990 between Registrant and
Harris Trust & Savings Bank (incorporated by reference to Exhibit 5(h) to PEA
No. 7 filed on April 1, 1991).
(5)(b) Advisory Contract on behalf of HT Insight Equity Fund (now named "Harris
Insight Equity Fund") dated May 1, 1990 between Registrant and Harris Trust &
Savings Bank (incorporated by reference to Exhibit 5(i) to PEA No. 7 filed on
April 1, 1991).
(5)(c) Advisory Contract on behalf of HT Insight Managed Fixed Income Fund (now
named "Harris Insight Short/Intermediate Bond Fund") dated April 1, 1991 between
Registrant and Harris Trust & Savings Bank (incorporated by reference to Exhibit
5(j) to PEA No. 8 filed on October 1, 1991).
(5)(d) Advisory Contract on behalf of Harris Insight Government Assets Fund (now
named "Harris Insight Government Money Market Fund") between Registrant and
Harris Trust & Savings Bank (incorporated by reference to Exhibit 5(l) to PEA
No. 15 filed on May 2, 1994).
(5)(e) Advisory Contract on behalf of Harris Insight Cash Management Fund (now
named "Harris Insight Money Market Fund") between Registrant and Harris Trust &
Savings Bank (incorporated by reference to Exhibit 5(m) to PEA No. 15 filed on
May 2, 1994).
(5)(f) Advisory Contract on behalf of Harris Insight Tax-Free Money Market Fund
(now named "Harris Insight Tax-Exempt Money Market Fund") between Registrant and
Harris Trust & Savings Bank (incorporated by reference to Exhibit 5(n) to PEA
No. 15 filed on May 2, 1994).
(5)(g) Advisory Contract on behalf of Harris Insight NAFTA Advantage Fund (now
named "Harris Insight Hemisphere Free Trade Fund") between Registrant and Harris
Trust & Savings Bank (to be filed by amendment).
(5)(h) Portfolio Management Contract on behalf of HT Insight Convertible Fund
(now named "Harris Insight Convertible Fund") dated May 1, 1990 between Harris
Trust & Savings Bank and Harris Investment Management, Inc. (incorporated by
reference to Exhibit 5(m) to PEA No. 7 filed on April 1, 1991).
(5)(i) Portfolio Management Contract on behalf of HT Insight Equity Fund (now
named "Harris Insight Equity Fund") dated May 1, 1990 between Harris Trust &
Savings Bank and Harris Investment Management, Inc. (incorporated by reference
to Exhibit 5(n) to PEA No. 7 filed on April 1, 1991).
(5)(j) Portfolio Management Contract on behalf of HT Insight Managed Fixed
Income Fund (now named "Harris Insight Short/Intermediate Bond Fund") dated
April 1, 1991 between Harris Trust & Savings Bank and Harris Investment
Management, Inc. (incorporated by reference to Exhibit 5(o) to PEA No. 8 filed
on October 1, 1991).
(5)(k) Portfolio Management Contract on behalf of Harris Insight Government
Assets Fund (now named "Harris Insight Government Money Market Fund") between
Harris Trust & Savings Bank and Harris Investment Management, Inc.
(incorporated by reference to Exhibit 5(u) to PEA No. 15 filed on May 2, 1994).
(5)(l) Portfolio Management Contract on behalf of Harris Insight Cash Management
Fund (now named "Harris Insight Money Market Fund") between Harris Trust &
Savings Bank and Harris Investment Management, Inc. (incorporated by reference
to Exhibit 5(v) to PEA No. 15 filed on May 2, 1994).
(5)(m) Portfolio Management Contract on behalf of Harris Insight Hemisphere Free
Trade Fund between Harris Trust & Savings Bank and Harris Investment Management,
Inc. (to be filed by amendment).
(5)(n) Investment Sub-Advisory and Portfolio Management Services Agreement on
behalf of Harris Insight Hemisphere Free Trade Fund between Harris Investment
Management, Inc. and Bancomer Asesora de Fondos, S.A. de C.V. (to be filed by
amendment).
(5)(o) Investment Sub-Advisory and Portfolio Management Services Agreement on
behalf of Harris Insight Hemisphere Free Trade Fund between Harris Investment
Management, Inc. and Bank of Montreal Investment Counsel Limited (to be filed by
amendment).
(6)(a) Distribution Agreement between Registrant and Funds Distributor, Inc.
dated April 13, 1994 (incorporated by reference to Exhibit 6(k) to PEA No. 16
filed on June 1, 1994).
(6)(b) Notice to Distributor relating to Harris Insight Hemisphere Free Trade
Fund (to be filed by amendment).
(6)(c) Notice to Distributor relating to the addition of Class B Shares of the
Harris Insight Equity Fund and Managed Fixed Income Fund (now named "Harris
Insight Short/Intermediate Bond Fund") (to be filed by amendment).
(7) Not Applicable.
(8)(a) Custodian Agreement between Registrant and Provident National Bank dated
December 1, 1989 (incorporated by reference to Exhibit 8(b) to PEA No. 4 filed
on March 2, 1990).
(8)(b) Supplement to Custodian Agreement between Registrant and Provident
National Bank relating to HT Insight Income Fund (now named "Harris Insight
Short/Intermediate Bond Fund") dated July 24, 1990 (incorporated by reference to
Exhibit 8(c) to PEA No. 6 filed on November 2, 1990).
(8)(c) Notice to the Custodian relating to Harris Insight Intermediate Municipal
Income Fund dated November 23, 1992 (incorporated by reference to Exhibit 8(d)
to PEA No. 13 filed on April 19, 1993).
(8)(d) Notice to Custodian relating to Harris Insight Hemisphere Free Trade Fund
(to be filed by amendment).
(9)(a) Transfer Agency Agreement between Registrant and Provident Financial
Processing Corporation dated December 1, 1989 (incorporated by reference to
Exhibit 9(b) to PEA No. 4 filed on March 2, 1990).
(9)(b) Supplement to Transfer Agency Agreement between Registrant and Provident
Financial Processing Corporation relating to HT Insight Income Fund (now named
"Harris Insight Short/Intermediate Bond Fund") dated July 24, 1990 (incorporated
by reference to Exhibit 9(c) to PEA No. 6 filed on November 2, 1990).
(9)(c) Notice to Provident Financial Processing Corporation as Transfer Agent
relating to Harris Insight Intermediate Municipal Income Fund dated November 9,
1992 (incorporated by reference to Exhibit 9(d) to PEA No. 13 filed on April 19,
1993).
(9)(d) Notice to PFPC Inc. as Transfer Agent relating to the addition of Class B
and Class C Shares of the Harris Insight Government Assets, Cash Management and
Tax-Free Money Market Funds (incorporated by reference to Exhibit 9(e) to PEA
No. 15 filed on May 2, 1994).
(9)(e) Notice to PFPC Inc. as Transfer Agent relating to Harris Insight
Hemisphere Free Trade Fund (to be filed by amendment).
(9)(f) Administration Agreement between Registrant and The Boston Company
Advisors, Inc. dated December 1, 1989 (incorporated by reference to Exhibit 9(j)
to PEA No. 4 filed on March 2, 1990).
(9)(g) Supplement to Administration Agreement between Registrant and The Boston
Company Advisors, Inc. relating to HT Insight Income Fund dated July 24, 1990
(incorporated by reference to Exhibit 9(k) to PEA No. 6 filed on November 2,
1990).
(9)(h) Administration and Accounting Services Agreement between Registrant and
Provident Financial Processing Corporation dated December 1, 1989 (incorporated
by reference to Exhibit 9(l) to PEA No. 4 filed on March 2, 1990).
(9)(i) Supplement to Administration and Accounting Services Agreement between
Registrant and Provident Financial Processing Corporation relating to HT Insight
Income Fund (now named "Harris Insight Short/Intermediate Bond Fund") dated July
24, 1990 (incorporated by reference to Exhibit 9(m) to PEA No. 6 filed on
November 2, 1990).
(9)(j) Notice to The Boston Company Advisors, Inc. as Administrator relating to
Harris Insight Intermediate Municipal Income Fund dated November 5, 1992
(incorporated by reference to Exhibit 9(n) to PEA No. 13 filed on April 19,
1993).
(9)(k) Notice to Provident Financial Processing Corporation as Administrator and
Accounting Services Agent relating to Harris Insight Intermediate Municipal
Income Fund dated March 29, 1993 (incorporated by reference to Exhibit 9(o) to
PEA No. 13 filed on April 19, 1993).
(9)(l) Notice to The Boston Company Advisors, Inc. relating to the addition of
Class B and Class C Shares of the Harris Insight Government Assets, Cash
Management and Tax-Free Money Market Funds (incorporated by reference to Exhibit
9(q) to PEA No. 15 filed on May 2, 1994).
(9)(m) Notice to PFPC Inc. relating to the addition of Class B and Class C
Shares of the Harris Insight Government Assets, Cash Management and Tax-Free
Money Market Funds (incorporated by reference to Exhibit 9(r) to PEA No. 15
filed on May 2, 1994).
(9)(n) Consent of Registrant to the assignment of the Administration Agreement
between The Boston Company Advisors, Inc. and Registrant to The Shareholder
Services Group, Inc. dated April 29, 1994 (incorporated by reference to Exhibit
9(u) to PEA No. 16 filed on June 1, 1994).
(9)(o) Notice to The Shareholder Services Group, Inc. as Administrator, relating
to Harris Insight Hemisphere Free Trade Fund (to be filed by amendment).
(9)(p) Notice to PFPC Inc. as Administrator and Accounting Services Agent
relating to Harris Insight Hemisphere Free Trade Fund (to be filed by
amendment).
(9)(q) Form of Shareholder Servicing Agreement (incorporated by reference to
Exhibit 9(p) to PEA No. 12 filed on November 30, 1992).
(9)(r) Form of Servicing Agreement Relating to Class A Shares of the Harris
Insight Government Assets, Cash Management and Tax-Free Money Market Funds
(incorporated by reference to Exhibit 9 (t) to PEA No. 14 filed on August 20,
1993).
(9)(s) Form of Servicing Agreement Relating to Class B Shares of the Harris
Insight Government Assets, Cash Management and Tax-Free Money Market Funds
(incorporated by reference to Exhibit 9 (u) to PEA No. 14 filed on August 20,
1993).
(9)(t) Form of Servicing Agreement Relating to Class A Shares of the Harris
Insight Hemisphere Free Trade Fund (incorporated by reference to Exhibit 9(ee)
to PEA No. 18 filed on July 29, 1994).
(9)(u) Notice to PFPC Inc. as Transfer Agent relating to the addition of Class B
Shares of the Harris Insight Equity Fund and Managed Fixed Income Fund (to be
filed by amendment).
(9)(v) Notice to The Shareholder Services Group, Inc. relating to the addition
of Class B Shares of the Harris Insight Equity Fund and Managed Fixed Income
Fund (to be filed by amendment).
(9)(w) Form of Servicing Agreement Relating to Class B Shares of the Harris
Insight Equity Fund and Managed Fixed Income Fund (to be filed by amendment).
(9)(x) Sub-Administration Agreement between The Shareholder Services Group, PFPC
Inc. and FDI Distribution Services on behalf of Registrant (to be filed by
amendment).
(9)(y) Administration Agreement between Registrant and Harris Trust & Savings
Bank (to be filed by amendment).
(9)(z) Sub-Administration Agreement between Harris Trust & Savings Bank and
Funds Distributor (to be filed by amendment).
(9)(aa) Sub-Administration and Accounting Services Agreement between Harris
Trust & Savings Bank and PFPC Inc. (to be filed by amendment).
(9)(bb) Transfer Agency Services Agreement between Registrant and Harris Trust &
Savings Bank (to be filed by amendment).
(9)(cc) Sub-Transfer Agency Services Agreement between Harris Trust & Savings
Bank and PFPC Inc. (to be filed by amendment).
(10)(a) Opinion and Consent of Counsel of The Shareholder Services Group, Inc.
relating to the addition of Institutional Shares of the Harris Insight Equity
Fund and Managed Fixed Income Fund (to be filed by amendment).
(11) Consent of Price Waterhouse LLP (filed herewith).
(12) Not Applicable.
(13)(a) Purchase Agreement between Registrant and The Boston Company Advisors,
Inc. dated October 31, 1990 with respect to the HT Insight Income Fund (now
named "Harris Insight Short/Intermediate Bond Fund") (incorporated by reference
to Exhibit 13(b) to PEA No. 7 filed on April 1, 1991).
(13)(b) Purchase Agreement between Registrant and Funds Distributor, Inc. with
respect to Class B and Class C Shares of the Harris Insight Government Assets,
Cash Management and Tax-Free Money Market Funds (incorporated by reference to
Exhibit 5(l) to PEA No. 15 filed on May 2, 1994).
(13)(c) Purchase Agreement between Registrant and Funds Distributor, Inc. with
respect to the Harris Insight Hemisphere Free Trade Fund (to be filed by
amendment).
(13)(d) Purchase Agreement between Registrant and Funds Distributor, Inc. with
respect to Class B Shares of the Harris Insight Equity Fund and Managed Fixed
Income Fund (now named "Harris Insight Short/Intermediate Bond Fund") (to be
filed by amendment).
(14) Not Applicable.
(15)(a) Service Plan on behalf of HT Insight Convertible Fund (now named "Harris
Insight Convertible Fund") adopted as of November 9, 1989 and as revised on
April 24, 1991 (incorporated by reference to Exhibit 15(q) to PEA No. 9 filed on
April 29, 1992).
(15)(b) Service Plan on behalf of HT Insight Equity Fund (now named "Harris
Insight Equity Fund") adopted as of November 9, 1989 and as revised on April 24,
1991 (incorporated by reference to Exhibit 15(r) to PEA No. 9 filed on April 29,
1992).
(15)(c) Service Plan on behalf of HT Insight Managed Fixed Income Fund (now
named "Harris Insight Short/Intermediate Bond Fund") adopted as of July 20, 1990
and as revised on April 24, 1991 (incorporated by reference to Exhibit 15(s) to
PEA No. 9 filed on April 29, 1992).
(15)(d) Service Plan on behalf of Harris Insight Intermediate Municipal Income
Fund adopted as of October 20, 1992 (incorporated by reference to Exhibit 15(t)
to PEA No. 13 filed on April 19, 1993).
(15)(e) Amended and Restated Service Plan on behalf of the Harris Insight
Government Assets, Cash Management and Tax-Free Money Market Funds (incorporated
by reference to Exhibit 15(u) to PEA No. 15 filed on May 2, 1994).
(15)(f) Form of Service Plan on behalf of Harris Insight Hemisphere Free Trade
Fund (incorporated by reference to Exhibit 15(w) to PEA No. 18 filed on July 29,
1994).
(16)(a) Certain schedules for computation of performance quotations with respect
to HT Insight Equity and HT Insight Convertible Funds (incorporated by reference
to Exhibit 16(a) to PEA No. 3 filed on March 1, 1989).
(16)(b) Certain schedules for computation of performance quotations with respect
to HT Insight Convertible Fund, HT Insight Equity Fund and HT Insight Managed
Fixed Income Fund (incorporated by reference to Exhibit 16(b) to PEA No.
8 filed on October 1, 1991).
(16)(c) Certain schedules for computation of performance quotations with respect
to Harris Insight Government Assets Fund - Class A, Cash Management Fund - Class
A and Tax-Free Money Market Fund - Class A (incorporated by reference to Exhibit
16(d) to PEA No. 15 filed on May 2, 1994).
(16)(d) Certain schedules for computation of performance quotations with respect
to Harris Insight Government Assets Fund - Class B; Government Assets Fund -
Class C; Cash Management Fund - Class B; Cash Management Fund Class C; Tax-Free
Money Market Fund - Class B; and Tax-Free Money Market Fund - Class C (to be
filed by amendment).
(16)(e) Certain schedules for computation of performance quotations with respect
to Class A and Class B Shares of Harris Insight Hemisphere Free Trade Fund (to
be filed by amendment).
(16)(f) Certain schedules for computation of performance quotations with respect
to Harris Insight Equity Fund Class B and Managed Fixed Income Fund - Class B
(to be filed by amendment).
(17) Financial Data Schedules (filed herewith).
(18) Form of Multi-Class Plan (incorporated by reference to Exhibit 18 to PEA
No. 24 to the Registration Statement filed on February 9, 1996).
Item 25. Persons Controlled by or under Common Control with Registrant.
Not Applicable.
Item 26. Number of Holders of Securities.
As of August 16, 1996, the number of record holders of each class of securities
of the Registrant were as follows:
<TABLE>
<CAPTION>
Title of Series Number of Record Holders
- --------------- ------------------------
<S> <C>
Government Money Market Fund - Institutional Class Shares 4
Government Money Market Fund - Class A Shares 33
Government Money Market Fund - Class B Shares 0
Money Market Fund - Institutional Class Shares 8
Money Market Fund - Class A Shares 72
Money Market Fund - Class B Shares 0
Tax-Exempt Money Market Fund - Institutional Class Shares 7
Tax-Exempt Money Market Fund - Class A Shares 28
Tax-Exempt Money Market Fund - Class B Shares 0
Short/Intermediate Bond Fund - Institutional Class Shares 34
Short/Intermediate Bond Fund - Class A Shares 15
Convertible Fund 14
Equity Fund - Institutional Class Shares 61
Equity Fund - Class A Shares 73
Hemisphere Free Trade Fund - Institutional Class Shares 5
Hemisphere Free Trade Fund - Class A Shares 3
</TABLE>
Item 27. Indemnification.
Section 2-418 of the General Corporation Law of Maryland authorizes
registrant to indemnify its directors and officers under specified
circumstances. Article IV of the by-laws of Registrant (Exhibit 2 to this
amendment, which is incorporated herein by reference) provides in effect that
registrant shall provide certain indemnification of its directors and officers.
In accordance with Section 17(h) of the Investment Company Act, this provision
of the bylaws shall not protect any person against any liability to the
Registrant or its shareholders to which he would otherwise be subject by reason
of willful misfeasance, bad faith, gross negligence or reckless disregard of the
duties involved in the conduct of his office. This description is modified in
its entirety by Article IV of the by-laws of Registrant contained in this
Registration Statement as Exhibit 2 and incorporated herein by reference.
Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, 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 director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its 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.
Registrant and its directors, officers and employees are insured, under
a policy of insurance maintained by Registrant, within the limits and subject to
the limitations of the policy, against certain expenses in connection with the
defense of actions, suits or proceedings, and certain liabilities that might be
imposed as a result of such actions, suits or proceedings, to which they are
parties by reason of being or having been such directors or officers. The policy
expressly excludes coverage for any director or officer for any claim arising
out of any fraudulent act or omission, any dishonest act or omission or any
criminal act or omission of the director or officer.
The Distribution Agreement, the Custodian Agreement, the Transfer
Agency Services Agreement and the Administration and Accounting Services
Agreement (the "Agreements"), forms of which have or will be filed hereto,
provide for indemnification. The general effect of these provisions is to
indemnify entities contracting with the Company against liability and expenses
in certain circumstances. This description is modified in its entirety by the
provisions of the Agreements as contained in this Registration Statement and
incorporated herein by reference.
Item 28. Business and Other Connections of Investment Adviser.
(a) Harris Trust & Savings Bank ("Harris Trust"), an indirect,
wholly-owned subsidiary of Bank of Montreal, serves as investment adviser to the
Harris Insight Government Money Market, Money Market, Tax-Exempt Money Market,
Prime Reserve, Convertible, Equity, Short/Intermediate Bond, Hemisphere Free
Trade Fund and Intermediate Municipal Income Funds. Harris Trust's business is
that of an Illinois state-chartered bank with respect to which it conducts a
variety of commercial banking and trust activities.
To the knowledge of Registrant, none of the directors or executive
officers of Harris Trust except those set forth below, is or has been at any
time during the past two fiscal years engaged in any other
business, profession, vocation or employment of a substantial nature. Set forth
below are the names and principal businesses of the directors and executive
officers of Harris Trust who are or during the past two fiscal years have been
engaged in any other business, profession, vocation or employment of a
substantial nature for their own account or in the capacity or director,
officer, employee, partner or trustee. All directors of Harris Trust also serve
as directors of Harris Bankcorp, Inc., the immediate parent of Harris Trust.
<TABLE>
<CAPTION>
Position(s) with Principal Business(es) During
Name Harris Trust the Last Two Fiscal Years
- ---- ----------------- -----------------------------
<S> <C> <C>
Alan G. McNally Chairman and Chairman of the Board and Chief
Chief Executive Executive Officer of Harris Trust & Savings
Officer Bank and Harris Bankcorp, Inc. Formerly,
Vice Chairman of Personal and Commercial
Financial Services of Bank of Montreal.
James O. Webb Director President, James O. Webb & Associates
Inc.
Matthew W. Barrett Director Chairman of the Board and Chief Executive
Officer of the Bank of Montreal.
F. Anthony Comper Director President and Chief Operating Officer of the
Bank of Montreal.
Susan T. Congalton Director Managing Director of Lupine Partners.
Formerly General Counsel and Chief
Financial Officer, Finance and Law of
Carson Pierre Scott Company.
Roxanne J. Decyk Director Vice President -- Corporate Planning,
Amoco Chemical Company. Formerly,
Senior Vice President of Commercial and
Industrial Sales, Amoco Chemical
Corporation.
Wilbur H. Gantz Director President and Chief Executive Officer,
PathoGenesis Corporation.
James J. Glasser Director Retired Chairman, President and Chief
Executive Officer of GATX Corporation.
Daryl F. Grisham Director President and Chief Executive Officer of
Parker House Sausage Company.
Dr. Leo M. Henikoff Director President and Chief Executive Officer of
Rush-Presbyterian - St. Luke's Medical
Center.
Dr. Stanley O. Ikenberry Director President of the University of Illinois.
Charles H. Shaw Director Chairman of the Shaw Company.
Richard E. Terry Director Chairman and Chief Executive Officer of
Peoples Energy Corporation.
William J. Weisz Director Chairman of the Board of Motorola, Inc.
Edward W. Lyman, Jr. Director Vice Chairman and Senior Executive Vice
President -- Corporate and Institutional
Financial Services, Harris Trust & Savings
Bank. Formerly, Department Executive,
Corporate Banking, Harris Trust & Savings
Bank.
Maribeth S. Rahe Director Vice Chairman and Senior Executive Vice
President -- Personal & Commercial
Services, Harris Trust & Savings Bank.
Formerly, Department Executive, Personal
Financial Services, Harris Trust & Savings
Bank.
</TABLE>
(b) Harris Investment Management, Inc. ("HIM"), an indirect subsidiary
of Bank of Montreal, serves as the Portfolio Management Agent of the Government
Money Market, Money Market, Prime Reserve, Convertible Securities, Equity,
Short/Intermediate Bond and Intermediate Municipal Income Funds pursuant to
Portfolio Management Agreements with Harris Trust. HIM also serves as investment
adviser to the Hemisphere Free Trade Fund. HIM's business is that of a Delaware
corporation registered as an investment adviser under the Investment Advisers
Act of 1940.
To the knowledge of the Registrant, none of the directors or executive
officers of HIM, except those set forth below, is or has been at anytime during
the past two fiscal years engaged in any other business, profession, vocation or
employment of a substantial nature with respect to publicly traded companies for
their own account or in the capacity of director, officer, employees, partner or
trustee.
<TABLE>
<CAPTION>
Position(s) Principal Business(es) During
Name with HIM the Last Two Fiscal Years
- ---- ---------- ------------------------------
<S> <C> <C>
Brian J. Steck Director and Chairman of the Board of Harris
Chairman of the Investment Management, Inc. Vice-
Board Chairman of Investment Banking of Bank
of Montreal, President of the Bank of
Montreal Investment Management Limited.
Donald G.M. Coxe Director, President and President and Chief Investment Officer of
Chief Investment Officer Harris Investment Management, Inc.
Formerly, Chief Strategist of Nesbitt
Thomson, Inc.
William O. Leszinske President, Chief Manager of Equities, Harris
Investment Officer Investment Management, Inc.
Edward W. Lyman, Jr. Director Senior Executive Vice President --
Corporate & Institutional Financial Services,
Harris Trust & Savings Bank. Formerly,
Department Executive of Corporate
Banking, Harris Trust & Savings Bank.
Maribeth S. Rahe Director Senior Executive Vice President - -Personal
& Commercial Services, Harris Trust &
Savings Bank. Prior to January, 1994
Personal Financial Services Department
Executive of Harris Trust & Savings Bank.
Nancy B. Wolcott Director Executive Vice President -- Corporate &
Institutional Trust, Harris Trust & Savings
Bank. Formerly, Senior Vice President,
Harris Trust & Savings Bank.
Terry A. Jackson Director Executive Vice President, Bank of Montreal
Asset Management Services, President of
the Trust Company of the Bank of Montreal
and President of the Bank of Montreal
Investment Management. Vice President of
Nesbitt Thompson, Inc. Formerly,
Executive Vice President -- Retail and
Institutional Sales, Bank of Montreal.
Wayne Thomas Director Senior Vice President -- Personal
Investment Management, Harris Trust &
Savings Bank.
Carla Eyre Chief Financial and Senior Partner, Harris Investment
Chief Operating Officer Management, Inc.
Blanche Hurt Secretary Director of Harris Trust & Savings Bank
Trust and Investment Compliance Office.
Formerly, Corporate Fiduciary Officer of
Harris Trust & Savings Bank.
</TABLE>
(c) Bancomer Asesora de Fondos, S.A. de C.V. ("Bancomer") is a wholly
owned subsidiary of Casa de Bolsa Bancomer, S.A. de C.V., a Mexican
broker-dealer registered with the Comision Nacional de Valores, the securities
regulatory body of Mexico. Bancomer's business is that of an investment adviser
to banks or thrift institutions, investment companies, pension and profit
sharing plans, trusts, estates, charitable institutions, corporations or
individuals with respect to investments in Latin America. Bancomer serves as an
investment sub-adviser of the Hemisphere Free Trade Fund pursuant to an
Investment Sub-Advisory and Portfolio Management Services Agreement with HIM.
To the knowledge of the Registrant, none of the directors or executive
officers of Bancomer, except those set forth below, is or has been at anytime
during the past two fiscal years engaged in any other business, profession,
vocation or employment of a substantial nature with respect to publicly traded
companies for their own account or in the capacity of director, officer,
employees, partner or trustee.
<TABLE>
<CAPTION>
Position(s) Principal Business(es) During
Name with Bancomer the Last Two Fiscal Years
- ---- ------------- -----------------------------
<S> <C> <C>
Emilio Illanes Director and Director of Mutual Funds Division,
President Grupo Financiero Bancomer.
Formerly, Director General of
the Mexican Broker Dealers
Association.
Enrique Garduno Director Senior Vice President of
International Funds, Casa de
Bolsa Bancomer, S.A. de C.V.
Formerly, Senior Vice President
of Mutual Funds Division,
Bancomer, S.A.
Ruben Marquez Director Vice President of Development and
Analytical Support for Investment
Strategies, Casa de Bolsa Bancomer
S.A. de C.V. Formerly, Senior
Analyst of Economics Division,
Grupo Financiero Bancomer.
Miguel Angel Noriega Director Director General of Casa de
Bolsa Bancomer, S.A. de C.V.
Formerly, Managing Director of
Investment Banking, Bankers Trust
Company.
Mario Osorio Director and Chief Chief Administrative Officer,
Administrative Casa de Bolsa Bancomer,
Officer S.A. de C.V. Formerly, Senior Vice
President Casa de Bolsa
Bancomer, S.A. de C. V.
</TABLE>
(d) Bank of Montreal Investment Counsel Limited ("BOMIC"), a subsidiary
of Bank of Montreal, serves as an investment sub-adviser of the Hemisphere Free
Trade Fund pursuant to an Investment Sub-Advisory and Portfolio Management
Services Agreement with HIM. BOMIC's business is that of a Canadian corporation,
managing $9.2 billion (Canadian) on behalf of institutional clients.
To the knowledge of the Registrant, none of the directors or executive
officers of BOMIC, except those set forth below, is or has been at anytime
during the past two fiscal years engaged in any other business, profession,
vocation or employment of a substantial nature with respect to publicly traded
companies for their own account or in the capacity of director, officer,
employees, partner or trustee.
<TABLE>
<CAPTION>
Position(s) Principal Business(es) During
Name with BOMIC the Last Two Fiscal Years
- ---- ---------- -----------------------------
<S> <C> <C>
A. Donald Mutch Director and Chairman Senior Vice President, Asset
of the Board Management Services of the Bank of
Montreal and President of the Bank of
Montreal Investment Management
Limited
Barbara G. Stymiest Director Senior Vice President and Chief Financial
Officer of Nesbitt Thomson Inc.
Brian J. Steck Director Vice President of Investment Banking of
the Bank of Montreal and President
and Chief Executive Officer of
Nesbitt Thomson Inc.
Philip Heitner Director and President of the Bank of
President Montreal Investment Counsel Limited
Aubrey W. Baillie Director President and Chief Operating Officer of
Nesbitt Thomson Inc.
Terry A. Jackson Director Vice Chairman of Nesbitt Thomson Inc.
</TABLE>
Item 29. Principal Underwriter.
(a) In addition to HT Insight Funds Inc., Funds Distributor, Inc.
("Funds Distributor") currently acts as distributor for BJB Investment Funds,
Foreign Fund, Inc., Fremont Mutual Funds, Inc., Harris Insight Funds Trust, The
JPM Advisor Funds, The JPM Institutional Funds, The Master Portfolios, LKCM
Fund, The Munder Funds Trust, The Munder Funds, Inc., The PanAgora Institutional
Funds, RCM Capital Funds, Inc., RCM Equity Funds, Inc., RCM Strategic Global
Government Fund, Inc., St. Clair Money Market Fund, The Skyline Funds, The
Pierpont Funds and Waterhouse Investors Cash Management Fund, Inc. Funds
Distributor is registered with the Securities and Exchange Commission as a
broker-dealer and is a member of the National Association of Securities Dealers.
Funds Distributor is an indirect wholly-owned subsidiary of Boston Institutional
Group, Inc., a holding company all of whose outstanding shares are owned by key
employees.
(b) The information required by this Item 29 (b) with respect to each
director, officer, or partner of Funds Distributor is incorporated by reference
to Schedule A of Form BD filed by Funds Distributor with the Securities and
Exchange Commission pursuant to the Securities Act of 1934 (File No. 8-20518).
(c) Not applicable.
Item 30. Location of Accounts and Records.
All accounts, books and other documents required to be maintained by
Section 31(a) of the 1940 Act and the Rules promulgated thereunder are
maintained at one or more of the following offices: HT Insight Funds, Inc.,
d/b/a Harris Insight Funds, 60 State Street, Boston, Massachusetts 02109; PNC
Bank, N.A., Broad and Chestnut Streets, Philadelphia, Pennsylvania 19107; PFPC
Inc., 103 Bellevue Parkway, Wilmington, Delaware 19809; or Harris Trust &
Savings Bank, 111 West Monroe Street, Chicago, Illinois 60690.
Item 31. Management Services.
Other than as set forth under the captions "Management," in the
Prospectuses constituting Part A of this Post-Effective Amendment to the
Registration Statement and "Management" in the Statement of Additional
Information constituting Part B of this Registration Statement, Registrant is
not a party to any management-related service contracts.
Item 32. Undertakings.
(a) Registrant undertakes to call a meeting for the purpose of voting
upon the question or removal of a trustee or trustees when requested in writing
to do so by the holders of at least 10% of a Fund's outstanding shares of
beneficial interest and in connection with such meeting to comply with the
provisions of Section 16(c) of the Investment Company Act of 1940, as amended,
relating to shareholder communications.
(b) Registrant undertakes to file a Post-Effective Amendment relating
to each of the Harris Insight Intermediate Municipal Income Fund, the Harris
Insight Prime Reserve Fund and the Harris Insight
Hemisphere Free Trade Fund (the "Funds"), using reasonably current financial
statements which need not be certified, within four to six months from the date
each of the Funds commences investment operations.
(c) The Registrant will furnish each person to whom a Prospectus is
delivered with a copy of the Registrant's latest Annual Report to shareholders,
upon request and without charge.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
and the Investment Company Act of 1940, as amended, the Registrant certifies
that this Post-Effective Amendment No. 26 to the Registration Statement meets
all of the requirements for effectiveness pursuant to Rule 485(b) under the
Securities Act of 1933, as amended, and the Registrant has duly caused this
Post-Effective Amendment No. 26 to the Registration Statement to be signed on
its behalf by the undersigned, thereto duly authorized, in the City of Boston
and Commonwealth of Massachusetts on the 19th day of August, 1996.
HT Insight Funds, Inc. d/b/a
Harris Insight Funds
By: /s/ Richard W. Ingram
-------------------------
Richard W. Ingram, President
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Post-Effective Amendment No. 26 to the Registration Statement has been
signed below by the following persons in the capacities and on the date
indicated:
Signature Title Date
- --------- ----- ----
/s/ Richard W. Ingram President, Treasurer and 08/19/96
- ------------------------- Chief Financial Officer
Richard W. Ingram
/s/ C. Gary Gerst Director and Chairman 08/19/96
- ------------------------- of the Board
C. Gary Gerst
/s/ Edgar R. Fiedler Director 08/19/96
- -------------------------
Edgar R. Fiedler
/s/ John W. McCarter, Jr. Director 08/19/96
- -------------------------
John W. McCarter, Jr.
/s/ Ernest M. Roth Director 08/19/96
- -------------------------
Ernest M. Roth
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
(1)(h) Articles Supplementary to the Articles of
Incorporation dated February 21, 1996
(1)(i) Articles Supplementary to the Articles of
Incorporation dated July 18, 1996
(11) Consent of Price Waterhouse LLP
(27) Financial Data Schedules
EXHIBIT 1(H)
HT INSIGHT FUNDS, INC.
D/B/A HARRIS INSIGHT FUNDS
ARTICLES SUPPLEMENTARY
HT INSIGHT FUNDS, INC., doing business as Harris Insight Funds, a
Maryland corporation, having its principal office in Boston, Massachusetts (the
"Corporation"), certifies:
FIRST: The Board of Directors of the Corporation, by resolution at a
special meeting of the Corporation's Board of Directors on February 21, 1996 and
pursuant to Section 2-208.1 and Section 2-105 of the Maryland General
Corporation Law, authorized the Officers of the Corporation to take such action
as necessary to designate the authorized and issued shares previously designated
as Class E and Class F shares of the Corporation as follows:
(1) "Equity Fund -- Class A," consisting of 100,000,000 shares; and
(2) "Short/Intermediate Bond Fund -- Class A," consisting of
100,000,000 shares;
SECOND: Immediately before the redesignation of Class E and Class F
shares set forth in ARTICLE FIRST above, authorized shares of the Corporation
were designated as follows:
(1) "Government Assets Fund - Class A," consisting of 500,000,000
shares;
(2) "Government Assets Fund - Class B," consisting of 200,000,000
shares;
(3) "Government Assets Fund - Class C," consisting of 500,000,000
shares;
(4) "Cash Management Fund - Class A," consisting of 750,000,000 shares;
(5) "Cash Management Fund - Class B," consisting of 200,000,000 shares;
(6) "Cash Management Fund - Class C," consisting of 500,000,000 shares;
(7) Tax-Free Money Market Fund - Class A," consisting of 500,000,000
shares;
(8) Tax-Free Money Market Fund - Class B," consisting of 200,000,000
shares;
(9) Tax-Free Money Market Fund - Class C," consisting of 500,000,000
shares;
(10) "Class D," consisting of 100,000,000 shares;
(11) "Class E," consisting of 100,000,000 shares;
(12) "Class F," consisting of 100,000,000 shares;
(13) "Class G," consisting of 50,000,000 shares;
(14) "Prime Reserve Fund - Class A," consisting of 200,000,000 shares;
(15) "Prime Reserve Fund - Class B," consisting of 700,000,000 shares;
(16) "Prime Reserve Fund - Class C," consisting of 300,000,000 shares;
(17) "NAFTA Advantage Fund - Class A," consisting of 50,000,000 shares;
and
(18) "NAFTA Advantage Fund - Class B," consisting of 50,000,000 shares.
THIRD: The Board of Directors has duly classified 200,000,000 shares of
the unissued capital stock of the Corporation into the following classes
designated as follows:
(1) "Equity Fund -- Institutional Shares," consisting of 100,000,000
shares; and
(2) "Short/Intermediate Bond Fund -- Institutional Shares," consisting
of 100,000,000 shares.
FOURTH: Immediately before and after the redesignation set forth in
ARTICLE FIRST above and the classification set forth in ARTICLE THIRD above, the
aggregate number of all classes of shares of common stock which the Corporation
is authorized to issue is 10,000,000,000 shares of common stock of par value
$.001 each, having an aggregate par value of $10,000,000.
FIFTH: The Board of Directors has changed the name of the following
classes as follows: (1) each class of the "Government Assets Fund" has been
changed to "Government Money Market Fund," (2) each class of the "Cash
Management Fund" has been changed to "Money Market Fund," (3) each class of the
"Tax-Free Money Market Fund" has been changed to "Tax-Exempt Money Market Fund,"
(4) each class of the "NAFTA Advantage Fund" has been changed to "Hemisphere
Free Trade Fund," (5) Class C Shares of the Money Market Fund, Government Money
Market Fund, Tax-Exempt Money Market Fund and Prime Reserve Fund have been
changed to "Institutional Shares."
SIXTH: Immediately after the redesignation set forth in ARTICLE FIRST
above, the classification set forth in ARTICLE THIRD above and the name change
set forth in ARTICLE FIFTH above, the Corporation is authorized to issue shares
designated as follows:
(1) "Government Money Market Fund - Class A," consisting of
500,000,000 shares;
(2) "Government Money Market Fund - Class B," consisting of
200,000,000 shares;
(3) "Government Money Market Fund - Institutional Shares," consisting
of 500,000,000 shares;
(4) "Money Market Fund - Class A," consisting of 750,000,000 shares;
(5) "Money Market Fund - Class B," consisting of 200,000,000 shares;
(6) "Money Market Fund - Institutional Shares," consisting of
500,000,000 shares;
(7) Tax-Exempt Money Market Fund - Class A," consisting of 500,000,000
shares;
(8) Tax-Exempt Money Market Fund - Class B," consisting of 200,000,000
shares;
(9) Tax-Exempt Money Market Fund - Institutional Shares," consisting
of 500,000,000 shares;
(10) "Class D," consisting of 100,000,000 shares;
(11) "Equity Fund - Class A," consisting of 100,000,000 shares;
(12) "Equity Fund - Institutional Shares," consisting of 100,000,000
shares;
(13) "Short/Intermediate Bond Fund - Class A," consisting of
100,000,000 shares;
(14) "Short/Intermediate Bond Fund - Institutional Shares," consisting
of 100,000,000 shares;
(15) "Class G," consisting of 50,000,000 shares;
(16) "Prime Reserve Fund - Class A," consisting of 200,000,000 shares;
(17) "Prime Reserve Fund - Class B," consisting of 700,000,000 shares;
(18) "Prime Reserve Fund - Institutional Shares," consisting of
300,000,000 shares;
(19) "Hemisphere Free Trade Fund - Class A," consisting of 50,000,000
shares; and
(20) "Hemisphere Free Trade Fund - Institutional Shares," consisting of
50,000,000.
SEVENTH: The Company is registered as an open-end investment company
under the Investment Company Act of 1940, as amended.
The President acknowledges these Articles Supplementary to be the
corporate act of the Corporation and states that to the best of his knowledge,
information and belief the matters and facts set forth in these Articles with
respect to the authorization and approval of the amendment of the Corporation's
charter are true in all material respects and that this statement is made under
the penalties of perjury.
IN WITNESS WHEREOF, HT INSIGHT FUNDS, INC. d/b/a Harris Insight Funds
has caused these Articles Supplementary to be executed in its name and on its
behalf on the 21st day of February, 1996.
ATTEST: HT INSIGHT FUNDS, INC. d/b/a
HARRIS INSIGHT FUNDS
By: /s/ Lisa Anne Rosen By: /s/ Patricia L. Bickimer
----------------------- --------------------------
Lisa Anne Rosen Patricia L. Bickimer
Assistant Secretary President
EXHIBIT 1(I)
HT INSIGHT FUNDS, INC.
ARTICLES SUPPLEMENTARY
HT INSIGHT FUNDS, INC., a Maryland corporation, having its principal
office in Boston, Massachusetts (the "Corporation"), certifies:
FIRST: The Board of Directors of the Corporation, by resolution at a
regular meeting of the Corporation's Board of Directors on April 23, 1996 and
pursuant to Section 2-208 and Section 2-105 of the Maryland General Corporation
Law, authorized the Officers of the Corporation to take such action as necessary
to classify the following shares of the authorized and unissued capital stock of
the Corporation as follows:
(1) "Government Money Market Fund - Class A" 500,000,000 shares;
(2) "Money Market Fund - Class A" 250,000,000 shares;
(3) "Money Market Fund - Institutional Shares" 250,000,000 shares; and
(4) "Tax-Exempt Money Market Fund - Institutional Shares" 500,000,000
shares.
SECOND: Immediately before the classification of shares set forth in
ARTICLE FIRST above, authorized shares of the Corporation were designated as
follows:
(1) "Government Money Market Fund - Class A," consisting of
500,000,000 shares;
(2) "Government Money Market Fund - Class B," consisting of
200,000,000 shares;
(3) "Government Money Market Fund - Institutional Shares," consisting
of 500,000,000 shares;
(4) "Money Market Fund - Class A," consisting of 750,000,000 shares;
(5) "Money Market Fund - Class B," consisting of 200,000,000 shares;
(6) "Money Market Fund - Institutional Shares," consisting of
500,000,000 shares;
(7) Tax-Exempt Money Market Fund - Class A," consisting of 500,000,000
shares;
(8) Tax-Exempt Money Market Fund - Class B," consisting of 200,000,000
shares;
(9) Tax-Exempt Money Market Fund - Institutional Shares," consisting
of 500,000,000 shares;
(10) "Class D," consisting of 100,000,000 shares;
(11) "Equity Fund - Class A," consisting of 100,000,000 shares;
(12) "Equity Fund - Institutional Shares," consisting of 100,000,000
shares;
(13) "Short/Intermediate Bond Fund - Class A," consisting of
100,000,000 shares;
(14) "Short/Intermediate Bond Fund - Institutional Shares," consisting
of 100,000,000 shares;
(15) "Class G," consisting of 50,000,000 shares;
(16) "Prime Reserve Fund - Class A," consisting of 200,000,000 shares;
(17) "Prime Reserve Fund - Class B," consisting of 700,000,000 shares;
(18) "Prime Reserve Fund - Institutional Shares," consisting of
300,000,000 shares;
(19) "Hemisphere Free Trade Fund - Class A," consisting of 50,000,000
shares; and
(20) "Hemisphere Free Trade Fund - Institutional Shares," consisting of
50,000,000.
THIRD: Immediately before and after the classification of shares set
forth in ARTICLE FIRST above, the aggregate number of all classes of shares of
common stock which the Corporation is authorized to issue is 10,000,000,000
shares of common stock of par value $.001 each, having an aggregate par value of
$10,000,000.
FOURTH: Immediately after the classification of shares set forth in
ARTICLE FIRST above, the Corporation is authorized to issue shares designated as
follows:
(1) "Government Money Market Fund - Class A," consisting of
1,000,000,000 shares;
(2) "Government Money Market Fund - Class B," consisting of
200,000,000 shares;
(3) "Government Money Market Fund - Institutional Shares," consisting
of 500,000,000 shares;
(4) "Money Market Fund - Class A," consisting of 1,000,000,000 shares;
(5) "Money Market Fund - Class B," consisting of 200,000,000 shares;
(6) "Money Market Fund - Institutional Shares," consisting of
750,000,000 shares;
(7) Tax-Exempt Money Market Fund - Class A," consisting of 500,000,000
shares;
(8) Tax-Exempt Money Market Fund - Class B," consisting of 200,000,000
shares;
(9) Tax-Exempt Money Market Fund - Institutional Shares," consisting
of 1,000,000,000 shares;
(10) "Class D," consisting of 100,000,000 shares;
(11) "Equity Fund - Class A," consisting of 100,000,000 shares;
(12) "Equity Fund - Institutional Shares," consisting of 100,000,000
shares;
(13) "Short/Intermediate Bond Fund - Class A," consisting of
100,000,000 shares;
(14) "Short/Intermediate Bond Fund - Institutional Shares," consisting
of 100,000,000 shares;
(15) "Class G," consisting of 50,000,000 shares;
(16) "Prime Reserve Fund - Class A," consisting of 200,000,000 shares;
(17) "Prime Reserve Fund - Class B," consisting of 700,000,000 shares;
(18) "Prime Reserve Fund - Institutional Shares," consisting of
300,000,000 shares
(19) "Hemisphere Free Trade Fund - Class A," consisting of 50,000,000
shares; and
(20) "Hemisphere Free Trade Fund - Institutional Shares," consisting of
50,000,000.
FIFTH: The Corporation is registered as an open-end investment company
under the Investment Company Act of 1940, as amended.
The President of HT Insight Funds, Inc. acknowledges these Articles
Supplementary to be the corporate act of the Corporation and states that to the
best of his knowledge, information and belief the matters and facts set forth in
these Articles with respect to the authorization and approval of the amendment
of the Corporation's charter are true in all material respects and that this
statement is made under the penalties of perjury.
IN WITNESS WHEREOF, HT INSIGHT FUNDS, INC. has caused these Articles
Supplementary to be executed in its name and on its behalf on the 18th day of
July, 1996.
ATTEST: HT INSIGHT FUNDS, INC.
By: /s/ John E. Pelletier By: /s/ Richard W. Ingram
------------------------ ---------------------------
John E. Pelletier Richard W. Ingram
Secretary President
EXHIBIT 11
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Prospectus and
Statement of Additional Information which are incorporated by reference in this
Post-Effective Amendment No. 26 to the registration statement on Form N-1A (the
"Registration Statement") of our report dated January 31, 1996, relating to the
financial statements and financial highlights appearing in the December 31, 1995
Annual Report to Shareholders of Harris Insight Funds, which is also
incorporated by reference in such Statement of Additional Information which
constitutes part of this Registration Statement. We also consent to the
references to us under the headings "Independent Accountants," "Experts" and
"Financial Statements" in such Statement of Additional Information and to the
reference to us under the heading "Financial Highlights" in such Prospectus
/s/ Price Waterhouse LLP
PRICE WATERHOUSE LLP
Thirty South Seventeenth Street
Philadelphia, PA 19103
September 5, 1996
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 011
<NAME> HARRIS INSIGHT GOVERNMENT MONEY MARKET FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 230577247
<INVESTMENTS-AT-VALUE> 230577247
<RECEIVABLES> 1458346
<ASSETS-OTHER> 43317
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232078910
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1076443
<TOTAL-LIABILITIES> 1076443
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 231002555
<SHARES-COMMON-STOCK> 231002555
<SHARES-COMMON-PRIOR> 282792779
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (88)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 231002467
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7147386
<OTHER-INCOME> 0
<EXPENSES-NET> 665800
<NET-INVESTMENT-INCOME> 6481586
<REALIZED-GAINS-CURRENT> (88)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6481498
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6481586
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 753585758
<NUMBER-OF-SHARES-REDEEMED> 807795907
<SHARES-REINVESTED> 2419925
<NET-CHANGE-IN-ASSETS> (51790312)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 151561
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 779297
<AVERAGE-NET-ASSETS> 229088394
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .024
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .024
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 012
<NAME> HARRIS INSIGHT GOVT MONEY MARKET FUND - INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 230577247
<INVESTMENTS-AT-VALUE> 230577247
<RECEIVABLES> 1458346
<ASSETS-OTHER> 43317
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232078910
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1076443
<TOTAL-LIABILITIES> 1076443
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 231002555
<SHARES-COMMON-STOCK> 231002555
<SHARES-COMMON-PRIOR> 282792779
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (88)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 231002467
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7147386
<OTHER-INCOME> 0
<EXPENSES-NET> 665800
<NET-INVESTMENT-INCOME> 6481586
<REALIZED-GAINS-CURRENT> (88)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6481498
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6481586
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 753585758
<NUMBER-OF-SHARES-REDEEMED> 807795907
<SHARES-REINVESTED> 2419925
<NET-CHANGE-IN-ASSETS> (51790224)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 151561
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 779297
<AVERAGE-NET-ASSETS> 35701232
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .026
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 021
<NAME> HARRIS INSIGHT MONEY MARKET FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 708186287
<INVESTMENTS-AT-VALUE> 708186287
<RECEIVABLES> 2686818
<ASSETS-OTHER> 45134
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 710918239
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3463963
<TOTAL-LIABILITIES> 3463963
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 707454276
<SHARES-COMMON-STOCK> 707454276
<SHARES-COMMON-PRIOR> 522414440
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 707454276
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 21851948
<OTHER-INCOME> 0
<EXPENSES-NET> 1667543
<NET-INVESTMENT-INCOME> 20184405
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 20184405
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20195254
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1777526044
<NUMBER-OF-SHARES-REDEEMED> 1597935939
<SHARES-REINVESTED> 5449721
<NET-CHANGE-IN-ASSETS> 185028977
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10849
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 415750
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1907637
<AVERAGE-NET-ASSETS> 488664113
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .025
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 022
<NAME> HARRIS INSIGHT MONEY MARKET FUND - INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 708186287
<INVESTMENTS-AT-VALUE> 708186287
<RECEIVABLES> 2686818
<ASSETS-OTHER> 45134
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 710918239
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3463963
<TOTAL-LIABILITIES> 3463963
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 707454276
<SHARES-COMMON-STOCK> 707454276
<SHARES-COMMON-PRIOR> 522414440
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 707454276
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 21851948
<OTHER-INCOME> 0
<EXPENSES-NET> 1667543
<NET-INVESTMENT-INCOME> 20184405
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 20184405
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20195254
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1777526044
<NUMBER-OF-SHARES-REDEEMED> 1597935939
<SHARES-REINVESTED> 5449721
<NET-CHANGE-IN-ASSETS> 185028977
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10849
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 415750
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1907637
<AVERAGE-NET-ASSETS> 312027411
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .026
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 031
<NAME> HARRIS INSIGHT TAX-EXEMPT MONEY MARKET FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 667044982
<INVESTMENTS-AT-VALUE> 667044982
<RECEIVABLES> 2962693
<ASSETS-OTHER> 26808
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 670034483
<PAYABLE-FOR-SECURITIES> 32302219
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1859596
<TOTAL-LIABILITIES> 34161815
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 635877961
<SHARES-COMMON-STOCK> 635877961
<SHARES-COMMON-PRIOR> 382722635
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 883
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 635872668
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 10389070
<OTHER-INCOME> 0
<EXPENSES-NET> 1068050
<NET-INVESTMENT-INCOME> 9321020
<REALIZED-GAINS-CURRENT> 13
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 9321903
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9321020
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 904902422
<NUMBER-OF-SHARES-REDEEMED> 653593813
<SHARES-REINVESTED> 1846717
<NET-CHANGE-IN-ASSETS> 253156209
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (968)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 329473
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1156172
<AVERAGE-NET-ASSETS> 622497420
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .014
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .014
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 032
<NAME> HARRIS INSIGHT TAX-EXEMPT MONEY MARKET FD-INSTIT CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 667044982
<INVESTMENTS-AT-VALUE> 667044982
<RECEIVABLES> 2962693
<ASSETS-OTHER> 26808
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 670034483
<PAYABLE-FOR-SECURITIES> 32302219
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1859596
<TOTAL-LIABILITIES> 34161815
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 635877961
<SHARES-COMMON-STOCK> 635877961
<SHARES-COMMON-PRIOR> 382722635
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 883
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 635872668
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 10389070
<OTHER-INCOME> 0
<EXPENSES-NET> 1068050
<NET-INVESTMENT-INCOME> 9321020
<REALIZED-GAINS-CURRENT> 13
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 9321903
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9321020
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 904902422
<NUMBER-OF-SHARES-REDEEMED> 653593813
<SHARES-REINVESTED> 1846717
<NET-CHANGE-IN-ASSETS> 253156209
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (968)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 329473
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1156172
<AVERAGE-NET-ASSETS> 622497420
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .015
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .015
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 041
<NAME> HARRIS INSIGHT CONVERTIBLE FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 955040
<INVESTMENTS-AT-VALUE> 1084083
<RECEIVABLES> 14609
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1098692
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9922
<TOTAL-LIABILITIES> 9922
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3632465
<SHARES-COMMON-STOCK> 108663
<SHARES-COMMON-PRIOR> 123025
<ACCUMULATED-NII-CURRENT> 25852
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 20547
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 129043
<NET-ASSETS> 1088770
<DIVIDEND-INCOME> 8392
<INTEREST-INCOME> 22151
<OTHER-INCOME> 0
<EXPENSES-NET> 4691
<NET-INVESTMENT-INCOME> 25852
<REALIZED-GAINS-CURRENT> 20547
<APPREC-INCREASE-CURRENT> 42203
<NET-CHANGE-FROM-OPS> 88602
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 24509
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2202
<NUMBER-OF-SHARES-REDEEMED> 18802
<SHARES-REINVESTED> 2239
<NET-CHANGE-IN-ASSETS> (81918)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4098
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 17536
<AVERAGE-NET-ASSETS> 1174333
<PER-SHARE-NAV-BEGIN> 9.52
<PER-SHARE-NII> .229
<PER-SHARE-GAIN-APPREC> .488
<PER-SHARE-DIVIDEND> .217
<PER-SHARE-DISTRIBUTIONS> (.217)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> .80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 051
<NAME> HARRIS INSIGHT EQUITY FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 466217731
<INVESTMENTS-AT-VALUE> 571958281
<RECEIVABLES> 2530967
<ASSETS-OTHER> (1546)
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 574487702
<PAYABLE-FOR-SECURITIES> 5673417
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 842632
<TOTAL-LIABILITIES> 6516049
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 423220444
<SHARES-COMMON-STOCK> 37456500
<SHARES-COMMON-PRIOR> 4378626
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 438645
<ACCUMULATED-NET-GAINS> 39460537
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 105740550
<NET-ASSETS> 567971653
<DIVIDEND-INCOME> 5093733
<INTEREST-INCOME> 154252
<OTHER-INCOME> 0
<EXPENSES-NET> 1974309
<NET-INVESTMENT-INCOME> 3273676
<REALIZED-GAINS-CURRENT> 39460537
<APPREC-INCREASE-CURRENT> (38102686)
<NET-CHANGE-FROM-OPS> 4631527
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3712321
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40269629
<NUMBER-OF-SHARES-REDEEMED> 7438843
<SHARES-REINVESTED> 241519
<NET-CHANGE-IN-ASSETS> 506715576
<ACCUMULATED-NII-PRIOR> 196
<ACCUMULATED-GAINS-PRIOR> (11429)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1463497
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1974309
<AVERAGE-NET-ASSETS> 429967183
<PER-SHARE-NAV-BEGIN> 13.99
<PER-SHARE-NII> .723
<PER-SHARE-GAIN-APPREC> .544
<PER-SHARE-DIVIDEND> .097
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.16
<EXPENSE-RATIO> .94
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 052
<NAME> HARRIS INSIGHT EQUITY FUND - INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 466217731
<INVESTMENTS-AT-VALUE> 571958281
<RECEIVABLES> 2530967
<ASSETS-OTHER> (1546)
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 574487702
<PAYABLE-FOR-SECURITIES> 5673417
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 842632
<TOTAL-LIABILITIES> 6516049
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 423220444
<SHARES-COMMON-STOCK> 37456500
<SHARES-COMMON-PRIOR> 4378626
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 438645
<ACCUMULATED-NET-GAINS> 39460537
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 105740550
<NET-ASSETS> 567971653
<DIVIDEND-INCOME> 5093733
<INTEREST-INCOME> 154252
<OTHER-INCOME> 0
<EXPENSES-NET> 1974309
<NET-INVESTMENT-INCOME> 3273676
<REALIZED-GAINS-CURRENT> 39460537
<APPREC-INCREASE-CURRENT> (38102686)
<NET-CHANGE-FROM-OPS> 4631527
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3712321
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40269629
<NUMBER-OF-SHARES-REDEEMED> 7438843
<SHARES-REINVESTED> 241519
<NET-CHANGE-IN-ASSETS> 506715576
<ACCUMULATED-NII-PRIOR> 196
<ACCUMULATED-GAINS-PRIOR> (11429)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1463497
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1974309
<AVERAGE-NET-ASSETS> 429967183
<PER-SHARE-NAV-BEGIN> 15.30
<PER-SHARE-NII> .082
<PER-SHARE-GAIN-APPREC> (.125)
<PER-SHARE-DIVIDEND> .097
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.16
<EXPENSE-RATIO> .94
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 061
<NAME> HARRIS INSIGHT SHORT/INTERMEDIATE BOND FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 272843662
<INVESTMENTS-AT-VALUE> 271654858
<RECEIVABLES> 3700418
<ASSETS-OTHER> 10937834
<OTHER-ITEMS-ASSETS> (185522)
<TOTAL-ASSETS> 286107588
<PAYABLE-FOR-SECURITIES> 26405222
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1643708
<TOTAL-LIABILITIES> 28048930
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4229081
<SHARES-COMMON-STOCK> 151985
<SHARES-COMMON-PRIOR> 4993979
<ACCUMULATED-NII-CURRENT> 6363066
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1371544)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1188804)
<NET-ASSETS> 258058658
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6363066
<OTHER-INCOME> 0
<EXPENSES-NET> (578078)
<NET-INVESTMENT-INCOME> 5784988
<REALIZED-GAINS-CURRENT> (1371544)
<APPREC-INCREASE-CURRENT> (6071474)
<NET-CHANGE-FROM-OPS> (1658030)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5819462
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9057964
<NUMBER-OF-SHARES-REDEEMED> 58006823
<SHARES-REINVESTED> 524362
<NET-CHANGE-IN-ASSETS> (48424497)
<ACCUMULATED-NII-PRIOR> 2765514
<ACCUMULATED-GAINS-PRIOR> 3258809
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 690036
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 888319
<AVERAGE-NET-ASSETS> 203046020
<PER-SHARE-NAV-BEGIN> 10.38
<PER-SHARE-NII> .310
<PER-SHARE-GAIN-APPREC> (.361)
<PER-SHARE-DIVIDEND> (.289)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.04
<EXPENSE-RATIO> .58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 062
<NAME> HARRIS INSIGHT SHORT/INTERMEDIATE BOND FD-INSTIT CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 272843662
<INVESTMENTS-AT-VALUE> 271654858
<RECEIVABLES> 3700418
<ASSETS-OTHER> 10937834
<OTHER-ITEMS-ASSETS> (185522)
<TOTAL-ASSETS> 286107588
<PAYABLE-FOR-SECURITIES> 26405222
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1643708
<TOTAL-LIABILITIES> 28048930
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 258521022
<SHARES-COMMON-STOCK> 25559346
<SHARES-COMMON-PRIOR> 4993979
<ACCUMULATED-NII-CURRENT> 6363066
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1371544)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1188804)
<NET-ASSETS> 258058658
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6363066
<OTHER-INCOME> 0
<EXPENSES-NET> (578078)
<NET-INVESTMENT-INCOME> 5784988
<REALIZED-GAINS-CURRENT> (1371544)
<APPREC-INCREASE-CURRENT> (6071474)
<NET-CHANGE-FROM-OPS> (1658030)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5819462
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 297669790
<NUMBER-OF-SHARES-REDEEMED> 35722948
<SHARES-REINVESTED> 199747
<NET-CHANGE-IN-ASSETS> 262146589
<ACCUMULATED-NII-PRIOR> 2765514
<ACCUMULATED-GAINS-PRIOR> 3258809
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 690036
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 888319
<AVERAGE-NET-ASSETS> 203046020
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> .206
<PER-SHARE-GAIN-APPREC> (.260)
<PER-SHARE-DIVIDEND> (.206)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.04
<EXPENSE-RATIO> .58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 071
<NAME> HARRIS INSIGHT HEMISPHERE FREE TRADE FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 9964416
<INVESTMENTS-AT-VALUE> 10032988
<RECEIVABLES> 117308
<ASSETS-OTHER> 36693
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10186989
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 115820
<TOTAL-LIABILITIES> 115820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10053020
<SHARES-COMMON-STOCK> 1005297
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 36803
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (86975)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 68321
<NET-ASSETS> 10071169
<DIVIDEND-INCOME> 38638
<INTEREST-INCOME> 33943
<OTHER-INCOME> 0
<EXPENSES-NET> 35778
<NET-INVESTMENT-INCOME> 36803
<REALIZED-GAINS-CURRENT> (86975)
<APPREC-INCREASE-CURRENT> 68321
<NET-CHANGE-FROM-OPS> 18149
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1005297
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10071149
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 20702
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 35778
<AVERAGE-NET-ASSETS> 49307
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .028
<PER-SHARE-GAIN-APPREC> (.008)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 1.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000823871
<NAME> HT INSIGHT FUNDS, INC.
<SERIES>
<NUMBER> 072
<NAME> HARRIS INSIGHT HEMISPHERE FREE TRADE FD-INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 9964416
<INVESTMENTS-AT-VALUE> 10032988
<RECEIVABLES> 117308
<ASSETS-OTHER> 36693
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10186989
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 115820
<TOTAL-LIABILITIES> 115820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10053020
<SHARES-COMMON-STOCK> 1005297
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 36803
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (86975)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 68321
<NET-ASSETS> 10071169
<DIVIDEND-INCOME> 38638
<INTEREST-INCOME> 33943
<OTHER-INCOME> 0
<EXPENSES-NET> 35778
<NET-INVESTMENT-INCOME> 36803
<REALIZED-GAINS-CURRENT> (86975)
<APPREC-INCREASE-CURRENT> 68321
<NET-CHANGE-FROM-OPS> 18149
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1005297
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10071149
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 20702
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 35778
<AVERAGE-NET-ASSETS> 10093668
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .037
<PER-SHARE-GAIN-APPREC> (.017)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 1.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
