1933 Act File No. 33-26516
1940 Act File No. 811-5752
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 X
------
Pre-Effective Amendment No. ........................
Post-Effective Amendment No. 25 ......................... X
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and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 X
------
Amendment No. 24 ............................................ X
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INDEPENDENCE ONE MUTUAL FUNDS
(Exact Name of Registrant as Specified in Charter)
5800 Corporate Drive
Pittsburgh, Pennsylvania 15237-7010
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
John W. McGonigle, Esquire,
Federated Investors Tower
1000 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
(Notices should be sent to the Agent for Service)
It is proposed that this filing will become effective:
immediately upon filing pursuant to paragraph (b) _X on __August 31,
1999___ pursuant to paragraph (b)(1)(iii) __ 60 days after filing pursuant to
paragraph (a)(i) __ on _____________ pursuant to paragraph (a)(i) _ 75 days
after filing pursuant to paragraph (a)(ii)
on pursuant to paragraph (a)(ii) of Rule 485.
If appropriate, check the following box:
X This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
Copies To:
Matthew G. Maloney, Esquire
Dickstein Shapiro Morin & Oshinsky, LLP
2101 L Street, N.W.
Washington, D.C. 20037
PART C. OTHER INFORMATION.
Item 24. Exhibits:
(a) Conformed copy of Declaration of Trust of the Registrant; (1.)
(i) Conformed copy of Amendment No. 1 to the Declaration of Trust; (2.)
(ii) Conformed copy of Amendment No. 2 to the Declaration of Trust; (2.)
(iii) Conformed copy of Amendment No. 3 to the Declaration of Trust; (4.)
(iv) Conformed copy of Amendment No. 4 to the Declaration of Trust; (6.)
(v) Conformed copy of Amendment No. 5 to the Declaration of Trust; (6.)
(vi) Conformed copy of Amendment No. 6 to the Declaration of Trust; (10.)
(vii) Conformed copy of Amendment No. 8 to the Declaration of Trust; (10.)
(viii) Conformed copy of Certification dated December 6, 1994; (10.)
(ix) Conformed copy of Amendment No. 9 to the Declaration of Trust; (12.)
(x) Conformed copy of Amendment No. 10 to the Declaration of Trust; (20)
(b) Copy of By-Laws of the Registrant; (1.)
- --------------------
+ All exhibits have been filed electronically.
1. Response is incorporated by reference to Registrant's Initial Registration
Statement on Form N-1A filed on January 13, 1989. (File Nos. 33-26516 and
811-5752)
2. Response is incorporated by reference to Registrant's Pre-Effective
Amendment No. 1 on Form N-1A filed on May 5, 1989. (File Nos. 33-26516 and
811-5752)
4. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 2 on Form N-1A filed on June 27, 1990. (File Nos. 33-26516
and 811-5752)
6. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 5 on Form N-1A filed June 24, 1992. (File Nos. 33-26516 and
811-5752)
10. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 10 on Form N-1A filed February 8, 1995. (File Nos. 33-26516
and 811-5752)
12. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 14 on Form N-1A filed on June 28, 1995. (File Nos. 33-26516
and 811-5752)
20. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 23 on Form N-1A filed on June 26, 1998. (File Nos. 33-26516
and 811-5752)
<PAGE>
(c) (i)Copy of Specimen Certificate for Shares of Beneficial Interest of
Independence One U.S. Government Securities Fund; (7.)
(ii) Copy of Specimen Certificate for
Shares of Beneficial Interest of
Independence One Equity Plus Fund,
Independence One Fixed Income Fund,
and Independence One Michigan
Municipal Bond Fund; (14.)
(iii) Copy of Specimen Certificate for
Shares of Beneficial Interest of
Independence One U.S. Treasury
Money Market Fund; (2.)
(iv) Copy of Specimen Certificates for
Shares of Beneficial Interest of
Independence One Michigan Municipal
Cash Fund and Independence One
Prime Money Market Fund-Class A
Shares and Class B Shares; (16.)
(v) Copy of Specimen Certificates for
Shares of Beneficial Interest of
Independence One Small Cap Fund and
Independence One International
Equity Fund ; (19.)
(d) Conformed copy of Investment Advisory Contract of the Registrant as
amended; (8.)
(i) Conformed copy of Investment Sub-Advisory Contract for
Independence One U.S. Government
Securities Fund; (8.)
(ii) Conformed copy of Exhibit G to the
Present Investment Advisory
Contract of the Registrant to add
Independence One Fixed Income Fund
to the Present Investment Advisory
Contract of the Registrant; (14.)
(iii) Conformed copy of Exhibit H to the Present Investment Advisory
Contract of the Registrant to add
Independence One Michigan Municipal
Bond Fund to the Present Investment
Advisory Contract of the
Registrant; (14.)
- --------------------
1. Response is incorporated by reference to Registrant's Initial Registration
Statement on Form N-1A filed on January 13, 1989. (File Nos. 33-26516 and
811-5752)
2. Response is incorporated by reference to Registrant's Pre-Effective
Amendment No. 1 on Form N-1A filed on May 5, 1989. (File Nos. 33-26516 and
811-5752)
7. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 6 on Form N-1A filed September 2, 1992. (File Nos. 33-26516
and 811-5752)
8. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 7 on Form N-1A filed June 24, 1993. (File Nos. 33-26516 and
811-5752)
14. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 16 on Form N-1A filed on August 29, 1995. (File Nos. 33-26516
and 811-5752)
16. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 14 on Form N-1A filed on June 28, 1996. (File Nos. 33-26516
and 811-5752)
19. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 22 on Form N-1A filed on April 2, 1998. (File Nos. 33-26516
and 811-5752)
<PAGE>
(iv) Conformed copy of Exhibit I to the
Present Investment Advisory
Contract of the Registrant to add
Independence One Equity Plus Fund
to the Present Investment Advisory
Contract of the Registrant; (14.)
(v) Conformed copy of Exhibit H to the
Present Investment Advisory
Contract of the Registrant to add
Independence One International
Equity Fund; (19.)
(vi) Conformed copy of Exhibit I to the
Present Investment Advisory
Contract of the Registrant to add
Independence One Small Cap Fund;
(19.)
(vii) Conformed copy of Investment Sub-Advisory Agreement for
Independence One Equity Plus Fund; (14.)
(viii) Conformed Copy of Investment Sub-Advisory Agreement for
Independence One Small Cap Fund;(21)
(ix) Conformed Copy of Sub-Advisory
Agreement for Independence One International Equity
Fund; (21) (e) Conformed Copy of Distributor's
Contract of Registrant through and including Exhibit
C; (16.)
(i) Conformed Copy of Exhibit D to the
Distributor's Contract; (10.) (ii)
Conformed Copy of Exhibit E to the
Distributor's Contract; (10.)
(iii) Conformed copy of Exhibit F to the
Distributor's Contract; (13.) (iv)
Conformed copy of Exhibit G to the
Distributor's Contract; (13.)
(v) Conformed copy of Exhibit H to the
Distributor's Contract; (13.) (vi)
Conformed copy of Exhibit I to the
Distributor's Contract; (13.)
(vii) Conformed copy of Exhibit J to the
Distributor's Contract; (13.) (viii) Conformed copy
of Exhibit K to the Distributor's Contract; (13.)
(f) Not applicable;
- --------------------
+ All exhibits have been filed electronically.
10. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 10 on Form N-1A filed February 8, 1995. (File Nos. 33-26516
and 811-5752)
13. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 16 on Form N-1A filed on July 25, 1995. (File Nos. 33-26516
and 811-5752)
14. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 16 on Form N-1A filed on August 29, 1995. (File Nos. 33-26516
and 811-5752)
16. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 14 on Form N-1A filed on June 28, 1996. (File Nos. 33-26516
and 811-5752)
19. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 22 on Form N-1A filed on April 2, 1998. (File Nos. 33-26516
and 811-5752)
21. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 24 on Form N-1A filed on June 24, 1998. (File Nos. 33-26516
and 811-5752)
<PAGE>
(g) (i) Conformed Copy of Custodian
Agreement of the Registrant through
and including Exhibit A; (16.)
(a) Conformed Copy of Amendment No. 2 to Exhibit A of the Custodian
Agreement; (19.)
(ii) Conformed Copy of the Agency Agreement of the Registrant; (3.)
(iii) Conformed Copy of the Administrative Services Agreement of
the Registrant; (16.)
(iv) Conformed Copy of Amendment No. 1 to Exhibit A of Agency
Agreement of the Registrant; (7.)
(h) (i) Conformed Copy of Agreement for Fund Accounting, Shareholder
Recordkeeping, and Custody Services
Procurement;(10.)
(a) Amendment to Exhibit 1 of the
Agreement for Fund Accounting,
Shareholder Recordkeeping, and
Custody Services Procurement; (19.)
(ii) Conformed copy of Shareholder Services Plan; (13.)
(iii) Conformed Copy of Exhibit 1 to the
Shareholder Services Plan of the
Registrant; (12.) (iv) Conformed copy of
Shareholder Services Agreement (Amended and
Restated 9/19/95); (15.)
+ All exhibits have been filed electronically.
3. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 1 on Form N-1A filed on December 12, 1989. (File Nos.
33-26516 and 811-5752)
7. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 6 on Form N-1A filed September 2, 1992. (File Nos. 33-26516
and 811-5752)
10. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 10 on Form N-1A filed February 8, 1995. (File Nos. 33-26516
and 811-5752)
12. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 14 on Form N-1A filed on June 28, 1995. (File Nos. 33-26516
and 811-5752)
13. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 16 on Form N-1A filed on July 25, 1995. (File Nos. 33-26516
and 811-5752)
15. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 17 on Form N-1A filed on December 5, 1995. (File Nos.
33-26516 and 811-5752)
16. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 14 on Form N-1A filed on June 28, 1996. (File Nos. 33-26516
and 811-5752)
18. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 22 on Form N-1A filed on April 2, 1998. (File Nos. 33-26516
and 811-5752)
20. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 23 on Form N-1A filed on June 26, 1998. (File Nos. 33-26516
and 811-5752)
<PAGE>
(v) Conformed Copy of Exhibit 1 to the Shareholder Services
Agreement of the Registrant; (12.)
(i) Conformed Copy of Opinion and Consent of Counsel as to legality of
shares being registered; (16.)
(j) Conformed Copy of Independent Auditors Consent;(20.)
(k) Not applicable;
(l) Conformed Copy of Initial Capital Understanding; (16.)
(m) (i) Conformed Copy of Distribution Plan through and including
Exhibit A; (16.)
(ii) Copy of Sales Agreement with Federated Securities Corp. and
Administrative Agreement - Appendix B; (2.)
(iii) Conformed copy of Exhibit B of Distribution Plan; (8.)
(iv) Copy of Schedule A of Sales Agreement
with Federated Securities Corp.; (7.) (v)
Copy of Fee Schedule for Rule 12b-1
Agreement with Federated Securities Corp.; (7.)
(n) Copy of Financial Data Schedules; (20.)
(o) Conformed copy of 18f-3 Plan; (17.)
(p) (i) Conformed copy of Power of Attorney; (16.)
(ii) Conformed copy of Power of Attorney
(adding Nathan Forbes as Trustee); (20.)
Item 24. Persons Controlled by or Under Common Control with Registrant:
None
- --------------------
+ All exhibits have been filed electronically.
2. Response is incorporated by reference to Registrant's Pre-Effective
Amendment No. 1 on Form N-1A filed on May 5, 1989. (File Nos. 33-26516 and
811-5752)
3. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 1 on Form N-1A filed on December 12, 1989. (File Nos.
33-26516 and 811-5752)
7. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 6 on Form N-1A filed September 2, 1992. (File Nos. 33-26516
and 811-5752)
8. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 7 on Form N-1A filed June 24, 1993. (File Nos. 33-26516 and
811-5752)
16. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 18 on Form N-1A filed on June 28, 1996. (File Nos. 33-26516
and 811-5752)
17. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 19 on Form N-1A filed on August 26, 1996. (File Nos. 33-26516
and 811-5752)
20. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 23 on Form N-1A filed on June 26, 1998. (File Nos. 33-26516
and 811-5752)
<PAGE>
Item 25. Indemnification: (4.)
Item 26. Business and Other Connections of Investment Adviser:
Michigan National Bank, a national banking association (the
"Adviser"), is a wholly owned subsidiary of Michigan National
Corporation ("MNC"). Through its subsidiaries and affiliates,
MNC, Michigan's fourth largest bank holding company in terms of
total assets, as of December 31, 1997, offers a full range of
financial services to the public including commercial lending,
depository services, cash management, brokerage services, retail
banking, credit card services, mortgage banking, investment
advisory services and trust services. Independence One Capital
Management Corporation ("IOCM"), a nationally recognized
investment advisory subsidiary of MNC, provides investment
advisory services for trust and other managed assets. IOCM and
the Trust Division have investment discretion over $2.2 billion.
Michigan National Bank has managed mutual funds since May 1989.
The Trust Division has managed pools of commingled funds since
1964. For more information on the business of the Adviser, see
the Prospectus under the heading "Management of the
Trust--Investment Adviser." --------------------
4. Response is incorporated by reference to Registrant's Post-Effective
Amendment No. 2 on Form N-1A filed on June 27, 1990. (File Nos. 33-26516
and 811-5752)
The officers and directors of the Adviser and any other
business, profession, vocation or employment of a substantial
nature in which each such officer and director is or has been
engaged during the past two years is set forth below. Unless
otherwise noted, the position listed under Other Business,
Profession, Vocation or Employment is with Michigan National
Bank. The business address of each such director and officer
is 27777 Inkster Road, Farmington Hills, Michigan, 48333-9065.
<TABLE>
<CAPTION>
<S> <C> <C>
Other Substantial Business
Position with Profession, Vocation or
Name the Adviser Employment
Glenn L. Barnes Director Executive General Manager,
Business and Personal Financial Services, National Australia
Bank Limited.
John S. Carton Director Director, Michigan National Corporation; Chairman, President,
and CEO, Pine View, Inc.
Sidney E. Forbes Director Director, Michigan National Corporation; Partner,
Forbes/Cohen Properties. Other Substantial
<PAGE>
William F. Pickard Director Director, Michigan National Corporation, Chairman and Chief
Executive Officer, Regal Plastics Company.
Douglas E. Ebert Director, Chief Executive Officer,
and Chief Michigan National Corporation
Executive Officer
Stephen A. VanAndel Director Director, Michigan National Corporation; Vice President and
Chairman, Amway Corporation.
James A. Williams Chairman Chairman, Michigan National Corporation; Chairman and
President Williams, Schaefer, Ruby & Williams.
Lawrence L. Gladchun General General Counsel and
Counsel and Secretary, Michigan National
Secretary Corporation.
Richard C. Webb Head CFS Head, Commercial Financial
Services, Michigan National
Corporation.
Robert V. Panizzi Controller Michigan National
Corporation.
Brian Black Head of Consumer Head of Consumer Financial
Financial Services Services, Michigan National
Corporation
Susan Barbour Head of Business Head of Business Financial
Financial Services Services, Michigan National
Corporation
Robert Hutchinson Head of Channel Michigan National Corporation
Management
Charles Van Swearingen Chief Financial Chief Financial Officer,
Officer Michigan National Corporation.
Kevin J. Van Solkema Head/Risk Head of Risk Management,
Management Michigan National Bank.
Errol Talbott Chief Operations Director, Michigan
Officer National Corporation.
Joseph L. Fritzsche Head/Human Head of Human Resources,
Resources Michigan National Corporation.
Kay Thawley Head/Marketing Head of Marketing, Michigan
National Corporation
<PAGE>
Mickey Brown Head/Operations Head of Operations and
and Information Information Technology,
Technology Michigan National Corporation.
James B. Meyer Director Director, Michigan National
Corporation, President and
Chief Operating Officer,
Spartan Stores, Inc.
Dr. Donald Argus Director Managing Director, and Chief Executive Officer, National
Australia Bank
Limited.
</TABLE>
National Australia Bank Limited ("NAB") is a transnational banking
organization headquartered at 500 Bourke Street, Melbourne, Australia. NAB is a
publicly owned company, whose shares are widely held and traded on the
Australian Stock Exchange Limited. On February 4, 1995, the Board of Directors
of MNC approved a definitive agreement for the acquisition (the "Merger") of MNC
by NAB. Shareholders of MNC approved the Merger on June 2, 1995. As a result,
MNC and its subsidiaries, including the Adviser, would become direct or indirect
subsidiaries of NAB upon completion of the Merger. The Merger was completed on
November 2, 1995 and Operations will continue to be conducted under the Michigan
National Corporation and Michigan National Bank names.
On May 4, 1995, the Trust's Board of Trustees approved the present
investment advisory contract (the "Present Advisory Contract") between the
Trust, on behalf of Independence Once Equity Plus Fund, Independence One Fixed
Income Fund and Independence One Michigan Municipal Bond Fund (collectively, the
"Portfolios"), and Michigan National Bank, as a subsidiary of MNC. Under the
provisions of the Investment Company Act of 1940, completion of the Merger
resulted in an assignment, and termination of the Portfolios' Present Advisory
Contract with the Adviser. Also on May 4, 1995, the Portfolios' Board of
Trustees approved a new investment advisory contract (the "New Advisory
Contract") between the Trust, on behalf of the Portfolios, and Michigan National
Bank, as a subsidiary of NAB. The New Advisory Contract became effective upon
consummation of the Merger.
The following information appeared in NAB's Annual Report for its
fiscal year ended September 30, 1997.
NAB, together with its subsidiaries (collectively, the "Group"), is one
of the four major Australian commercial banks ("trading banks" in Australian
terminology) which together account for approximately 18.3% of commercial
banking assets in Australia as of August 1997, according to the Reserve Bank of
Australia Bulletin. The Group undertakes a range of banking, financial and
related activities in Australia and elsewhere in the world, including commercial
banking, savings banking, finance and life insurance and merchant and investment
banking. As of September 30, 1997, Group assets totalled A$202.0 billion, of
which approximately 53.3% was domiciled in Australia, and Group deposits and
borrowings totalled A$128.5 billion, of which approximately 46.7% was domiciled
in Australia.+
NAB was established as "The National Bank of Australasia" in 1858 in
Victoria, Australia. Through internal expansion and the acquisition of other
banks, NAB developed into a national commercial bank. In its present form, NAB
is the product of the merger in 1981 of The National Bank of Australasia Limited
and Commercial Banking Company of Sydney Limited, the latter Bank being
established in 1834 in New South Wales, Australia.
At September 30, 1997 the Group had 52,226 full-time and part-time
employees worldwide.
Banking, the Group's principal business activity, is conducted in
Australia by NAB and internationally by NAB and certain subsidiaries. As of
September 30, 1997, NAB was the largest financial institution in Australia
(according to the Reserve Bank of Australia Bulletin) based on domestic assets
of $107.3 billion. The Group is the largest Australian banking group based on
its global assets of A$202.0 billion.+
Consistent with its philosophy of providing customers with a
comprehensive range of financial products and services, in 1985 the Group
established a life insurance and funds management entity, National Australia
Financial Management Limited. This entity and its subsidiaries provide the
Australian market with a range of personal financial planning services, personal
life and disability insurance, personal superannuation and managed investments,
corporate superannuation, group life insurance and various investment management
services. At September 30, 1997, funds under management amounted to A$4.4
billion. Two of the Group's banking subsidiaries in the United Kingdom,
Yorkshire Bank and Northern Bank, offer certain insurance and investment
products through subsidiaries, mainly in the areas of funds management and other
investment related products.
At September 1997, the directors* and principal executive officer of
NAB were as follows:
- ----------------
+ These figures reflect Australian dollars.
* The Directors of NAB are classified as either Executive or Non-Executive,
with the former being those Directors engaged in the full-time employment of
NAB. Mr. Donald Argus is the only Executive Director.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
Name and Position Position/Directorship Principal
with NAB Held Since Occupation(s)
William Robert 1992/1979 Barrister and Chairman and
Mitchel Irvine Director/Solicitor; Director,
Bank of New
Zealand; Chairman,
National Australia
Financial
Management Limited
and National
Australia Group
(UK) Limited;
former Partner,
Hedderwick Fookes
& Alston,
Solicitors.
Brian Thorley Loton 1992/1988 Chairman, The Vice-Chairman Broken Hill and Director Proprietary Company
Limited; Director, Amcor Limited and Australian Foundation Investment
Company Limited; Alternate Director, National Australia Group (UK)
Limited; former Managing Director, The Broken Hill Proprietary Company
Limited.
David Kennedy Macfarlane
1992/1985 Chairman
NAB's Principal
Board Audit
Committee;
Chairman of
National Australia
Asset Management
Limited and
Alternate
Director, National
Australia Group
(UK)) Limited; 33
years' experience
with James Hardie
Industries
Limited, 12 years
of which as
Managing Director.
Donald Robert Argus 1990/1989 National Bank of New Zealand, Managing Director and Clydesdale
Bank PLC National Chief Executive Officer Australia Financial Management Limited,
National Australia Group (UK) Limited, National
Irish Bank , Limited Northern Bank Limited and Yorkshire
Bank PLC.
David Charles 1992 Director, Woodside Petroleum Keith Allen Limited and a
member of the
Principal Board Audit
Committee.
Peter John Waraker 1985 Chairman, Director Email
Cottrell Limited.
Dr. Christopher Michael 1992 Non-Executive Director
Deeley North Limited; former Managing Director and Chairman Director
and Chief Executive, ICI Australia Limited.
<PAGE>
Name and Position Position/Directorship
with NAB Principal Held Since Occupation(s)
David Alexander Tange 1981 Alternate Director, Bank of
Dickens New Zealand; former Partner,
Director Court & Co. Chartered
Accountants; former Director, The Commercial
Banking Company of Sydney Limited.
The Lord Nickson 1991 Chairman, Director, Clydesdale Bank PLC; Director, National Australia
Group (UK) Limited.
Mark Richard Rayner 1985 Director and
Director Group Executive,
CRA Limited;
Deputy Chairman
and former
Managing Director,
Comalco Limited,
Chairman, Pasminco
Limited; member of
NAB's Principal
Board Audit
Committee.
Joseph Charles Trethowan 1984 Vice Chairman
Director of Directors and Chairman, Audit Committee of National Australia
Financial Management Limited; member of NAB's Principal Board Audit
Committee; former Chairman and General Manager, State Electricity
Commission of Victoria.
Andrew Trunbull 1992 Non-Executive
Director Chairman and former Managing Director and Chief Executive Officer, Burns
Philip and Company Limited.
Sir Bruce Dunstan Watson 1992 Former
Director Chairman, Director, and Chief Executive Officer, MIM Holdings Limited.
CM Walter 1995 Solicitor, former Partner, Clayton Utz; Director of Ampolex Limited,
SGIO Insurance Limited and Melbourne Business School Limited;
Commissioner of City of Melbourne.
</TABLE>
The address of the Directors and principal executive officer of NAB is c/o 500
Bourke Street, Melbourne, Australia.
<PAGE>
Item 27. Principal Underwriters:
(a)......Federated Securities Corp. the Distributor for shares of the
Registrant, acts as principal underwriter for the following .... open-end
investment companies, including the Registrant:
Automated Government Money Trust; Cash Trust Series II; Cash Trust Series, Inc.;
CCB Funds; Edward D. Jones & Co. Daily Passport Cash Trust; Federated Adjustable
Rate U.S. Government Fund, Inc.; Federated American Leaders Fund, Inc.;
Federated ARMs Fund; Federated Core Trust; Federated Equity Funds; Federated
Equity Income Fund, Inc.; Federated Fund for U.S. Government Securities, Inc.;
Federated GNMA Trust; Federated Government Income Securities, Inc.; Federated
Government Trust; Federated High Income Bond Fund, Inc.; Federated High Yield
Trust; Federated Income Securities Trust; Federated Income Trust; Federated
Index Trust; Federated Institutional Trust; Federated Insurance Series;
Federated Master Trust; Federated Municipal Opportunities Fund, Inc.; Federated
Municipal Securities Fund, Inc.; Federated Municipal Trust; Federated Short-Term
Municipal Trust; Federated Short-Term U.S. Government Trust; Federated Stock and
Bond Fund, Inc.; Federated Stock Trust; Federated Tax-Free Trust; Federated
Total Return Series, Inc.; Federated U.S. Government Bond Fund; Federated U.S.
Government Securities Fund: 1-3 Years; Federated U.S. Government Securities
Fund: 2-5 Years; Federated U.S. Government Securities Fund: 5-10 Years;
Federated Utility Fund, Inc.; Fixed Income Securities, Inc.; ; Hibernia Funds;
Independence One Mutual Funds; Intermediate Municipal Trust; International
Series, Inc.; Investment Series Funds, Inc.; Liberty U.S. Government Money
Market Trust; Liquid Cash Trust; Managed Series Trust; Marshall Funds, Inc.;
Money Market Management, Inc.; Money Market Obligations Trust; Money Market
Obligations Trust II; Money Market Trust; Municipal Securities Income Trust;
Newpoint Funds; Regions Funds; RIGGS Funds; SouthTrust Funds; Tax-Free
Instruments Trust; The Planters Funds; The Wachovia Funds; The Wachovia
Municipal Funds; Trust for Government Cash Reserves; Trust for Short-Term U.S.
Government Securities; Trust for U.S. Treasury Obligations; Vision Group of
Funds, Inc.; World Investment Series, Inc.; Blanchard Funds; Blanchard Precious
Metals Fund, Inc.; DG Investor Series; High Yield Cash Trust; Investment Series
Trust; Star Funds; Targeted Duration Trust; The Virtus Funds; Trust for
Financial Institutions;
Federated Securities Corp. also acts as principal underwriter for the
following closed-end investment company: Liberty Term Trust, Inc.- 1999.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
(b)
(1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address With Distributor With Registrant
Richard B. Fisher Director, Chairman, Chief
Federated Investors Tower Executive Officer, Chief
1001 Liberty Avenue Operating Officer, Asst.
Pittsburgh, PA 15222-3779 Secretary and Asst.
Treasurer, Federated
Securities Corp.
Arthur L. Cherry Director
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
John B. Fisher Director
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Thomas R. Donahue Director, Assistant Secretary
Federated Investors Tower and Assistant Treasurer
1001 Liberty Avenue Federated Securities Corp.
Pittsburgh, PA 15222-3779
James F. Getz President-Broker/Dealer and --
Federated Investors Tower Director
1001 Liberty Avenue Federated Securities Corp.
Pittsburgh, PA 15222-3779
John B. Fisher President-Institutional Sales, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Edward C. Gonzales Executive Vice President --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
David M. Taylor Executive Vice President --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Mark W. Bloss Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Richard W. Boyd Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Laura M. Deger Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Theodore Fadool, Jr. Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Bryant R. Fisher Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Christopher T. Fives Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
James S. Hamilton Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
James M. Heaton Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Keith Nixon Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Solon A. Person, IV Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Timothy C. Pillion Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Thomas E. Territ Senior Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Ernest G. Anderson Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
Teresa M. Antoszyk Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
John B. Bohnet Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Jane E. Broeren-Lambesis Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Matthew W. Brown Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
David J. Callahan Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Mark Carroll Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Steven R. Cohen Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Mary J. Combs Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
R. Edmond Connell, Jr. Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
R. Leonard Corton, Jr. Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Kevin J. Crenny Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
Daniel T. Culbertson Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
G. Michael Cullen Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Marc C. Danile Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Robert J. Deuberry Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
William C. Doyle Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Jill Ehrenfeld Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Mark D. Fisher Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Mark A. Gessner Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Joseph D. Gibbons Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
John K. Goettlicher Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Craig S. Gonzales Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
G. Tad Gullickson Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Dayna C. Haferkamp Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Raymond Hanley Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Bruce E. Hastings Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Beth A. Hetzel Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
James E. Hickey Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Charlene H. Jennings Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
H. Joseph Kennedy Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Michael W. Koenig Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Christopher A. Layton Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Michael H. Liss Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
Michael R. Manning Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Mark J. Miehl Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Richard C. Mihm Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Thomas P. Moretti Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Alec H. Neilly Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Thomas A. Peters III Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Robert F. Phillips Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Richard A. Recker Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Eugene B. Reed Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Paul V. Riordan Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
John Rogers Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
Brian S. Ronayne Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Thomas S. Schinabeck Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Edward J. Segura Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Edward L. Smith Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
David W. Spears Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
John A. Staley Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Colin B. Starks Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Jeffrey A. Stewart Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
William C. Tustin Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Paul A. Uhlman Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Miles J. Wallace Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
John F. Wallin Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Richard B. Watts Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Edward J. Wojnarowski Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Michael P. Wolff Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Robert W. Bauman Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Edward R. Bozek Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Terri E. Bush Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Beth C. Dell Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
David L. Immonen Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
John T. Glickson Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Renee L. Martin Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
<PAGE>
Robert M. Rossi Assistant Vice President, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Matthew S. Hardin Secretary, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Denis McAuley Treasurer, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Leslie K. Ross Assistant Secretary, --
Federated Investors Tower Federated Securities Corp.
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
</TABLE>
(c) Not applicable.
<PAGE>
Item 28. Location of Accounts and Records:
All accounts and records required to be maintained by Section
31(a) of the Investment Company Act of 1940 and Rules 31a-1
through 31a-3 promulgated thereunder are maintained at one of
the following locations:
Independence One Mutual Funds 5800 Corporate Drive
(Registrant) Pittsburgh, PA 15237-7010
Federated Services Company P.O. Box 8609
(Transfer Agent, Dividend Boston, Massachusetts 02266-
Disbursing Agent and Portfolio 8609
Recordkeeper)
Federated Administrative Services Federated Investors Tower
(Administrator) 1001 Liberty Avenue
Pittsburgh, PA 15222-3779
Michigan National Bank 27777 Inkster Road
(Adviser) Mail Code 10-52
Farmington Hills, MI 48333
National Australia Asset 333 Collins Street
Management Ltd. Melbourne, Victoria 3000,
(Sub-Adviser to International Australia Equity Fund)
Independence One Capital 27777 Inkster Road
Management Corporation Mail Code 10-52
(Sub-Adviser to U.S. Farmington Hills, MI 48333
Government Securities
Fund)
Sosnoff Sheridan Corporation 440 South LaSalle Street
(Sub-Adviser to Equity Plus Fund Suite 2301
and Small Cap Fund) Chicago, IL 60605
Michigan National Bank 27777 Inkster Road
(Custodian) Mail Code 10-52
Farmington Hills, MI 48333
Item 31. Management Services: Not applicable.
Item 32. Undertakings:
Registrant hereby undertakes to comply with the provisions of
Section 16(c) of the 1940 Act with respect to the removal of
Trustees and the calling of special shareholder meetings by
shareholders.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, INDEPENDENCE ONE MUTUAL FUNDS,
certifies that it meets all of the requirements for effectiveness of this
Amendment to its Registration Statement pursuant to Rule 485(b) under the
Securities Act of 1933 and has duly caused this Amendment to its Registration
Statement to be signed on its behalf by the undersigned, thereto duly
authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the
11th day of August, 1999.
INDEPENDENCE ONE MUTUAL FUNDS
BY: /s/ C. Grant Anderson
C. Grant Anderson, Secretary
Attorney in Fact for Edward C. Gonzales
August 11, 1999
Pursuant to the requirements of the Securities Act of 1933, this Amendment
to its Registration Statement has been signed below by the following person in
the capacity and on the date indicated:
<TABLE>
<CAPTION>
<S> <C> <C>
NAME TITLE DATE
By: /s/ C. Grant Anderson
C. Grant Anderson Attorney In Fact August 11, 1999
SECRETARY For the Persons
Listed Below
NAME TITLE
Edward C. Gonzales* President and Treasurer
(Chief Executive Officer
and Principal Financial and
Accounting Officer)
Robert E. Baker* Trustee
Harold Berry* Trustee
Nathan Forbes* Trustee
Harry J. Nederlander* Trustee
Thomas S. Wilson* Trustee
* By Power of Attorney
</TABLE>
