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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM N-17f-1 OMB APPROVAL
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OMB Number: 3235-0359
Certificate of Accounting of Securities and Similar --------------------------
Investments of a Management Investment Company Expires: April 30, 1994
in the Custody of Members of Estimated average burden
National Securities Exchanges hours per form. . . 0.05
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Pursuant to Rule 17f-1 [17 CFR 270.17f-1]
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<S> <C> <C> <C> <C> <C> <C>
1. Investment Company Act File Number: Date examination completed:
801-5443 9/30/1999
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2. State identification Number:
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AL AK AZ AR CA CO
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CT DE DC FL GA HI
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ID IL IN IA KS KY
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LA ME MD MA MI MN
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MS MO MT NE NV NH
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NJ NM NY NC ND OH
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OK OR PA RI SC SD
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TN TX UT VT VA WA
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WV WI WY PUERTO RICO
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Other (specify):
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3. Exact name of investment company as specified in registration statement:
CFS Investment Trust
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4. Name under which business is conducted, if different from above:
Calamos Market Neutral Fund
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5. Address of principal place of business (number, street, city, state, zip code):
1111 East Warrenville Road, Naperville, IL 60563
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INSTRUCTIONS
This Form must be completed by investment companies that place or maintain
securities or similar investments in the custody of a company that is a
member of a national securities exchange.
INVESTMENT COMPANY
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in compliance
with Rule 17f-1 under the Act and applicable state law, examines securities
and similar investments in the custody of a company that is a member of a
national securities exchange.
ACCOUNTANT
3. Submit this Form to the Securities and Exchange Commission and appropriate
state securities administrators when filing the certificate of accounting
required by Rule 17f-1 under the Act and applicable state law. File the
original and one copy with the Securities and Exchange Commission's
principal office in Washington, D.C., one copy with the regional office
for the region in which the investment company's principal business
operations are conducted, and one copy with the appropriate state
administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
Note: The estimated average burden hours are made solely for purposes of the
Paperwork Reduction Act, and are not derived from a comprehensive or
even a representative survey or study of the costs of SEC rules and
forms. Direct any comments concerning the accuracy of the estimated
average burden hours for compliance with SEC rules and forms to Kenneth
A. Fogash, Deputy Executive Director, U.S. Securities and Exchange
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549 and Gary
Waxman, Clearance Officer, Office of Management and Budget, Room 3208
New Executive Office Building, Washington, D.C. 20503.
SEC 2205(5-91)
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[CALAMOS INVESTMENT TRUST LETTERHEAD]
December 15, 1999
Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940
We, as members of management of Calamos Investment Trust - Calamos Market
Neutral Fund (the "Trust") are responsible for complying with the requirements
of subsection (b)(1) of Rule 17f-1, "Custody of Securities with Members of
National Securities Exchanges," of the Investment Company Act of 1940. We are
responsible for establishing and maintaining effective controls over compliance
with those requirements. We have performed an evaluation of the Trust's
compliance with the requirements of subsection (b)(1) of Rule 17f-1 as of
September 30, 1999.
Based on this evaluation, we assert that the Trust was in compliance with the
requirements of subsection (b)(1) of the Investment Company Act of 1940 as of
September 30, 1999 with respect to securities and similar investments reflected
in the investment account of the Trust.
Calamos Investment Trust,
By: /s/ Rhowena Blank
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Rhowena Blank
Treasurer
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[LETTERHEAD OF ERNST & YOUNG]
Report of Independent Accountants
Board of Trustees
Calamos Investment Trust -
Calamos Market Neutral Fund
We have examined management's assertion, included in the accompanying Management
Statement Regarding Compliance with Certain Provisions of the Investment Company
Act of 1940, that Calamos Investment Trust - Calamos Market Neutral Fund (the
Trust) was in compliance with the requirements of subsection (b)(1) of Rule
17f-1 of the Investment company Act of 1940 (the Act) as of September 30, 1999,
with respect to securities and similar investments reflected in the investment
account of the Trust. Management is responsible for the Trust's compliance with
those requirements. Our responsibility is to express an opinion on management's
assertion about the Trust's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and accordingly, included
examining, on a test basis, evidence about the Trust's compliance with those
requirements and performing such other procedures as we considered necessary in
the circumstances. Included among our procedures were the following tests
performed as of September 30, 1998, and with respect to agreement of security
and similar investments purchases and sales, for the period from March 31, 1999
(the date of last examination) through September 30, 1999;
- - Confirmation of all securities and similar investments held by Wexford
Clearing Services, Inc. (Custodian) in book entry form;
- - Reconciliation of confirmation results as to all such securities and
investments to the books and records of the Trust and the Custodian;
- - Agreement of two security and/or investment purchases and two security
and/or investment sales or maturities since our last examination from the
books and records of the Trust to broker confirmations.
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We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Trust's compliance
with specified requirements.
In our opinion, management's assertion that Calamos Investment Trust - Calamos
Market Neutral Fund was in compliance with the requirements of subsection
(b)(1) of Rule 17f-1 of the Investment Company Act of 1940 as of September 30,
1999, with respect to securities and similar investments reflected in the
investment account of the Trust, is fairly stated, in all material respects.
This report is intended solely for the information and use of management of
Calamos Investment Trust - Calamos Market Neutral Fund and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
/s/ ERNST & YOUNG LLP
Chicago, Illinois
October 18, 1999
