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Previous: AVANIR PHARMACEUTICALS, 424B3, 2000-05-24 |
Next: TYLER TECHNOLOGIES INC, DEF 14A, 2000-05-24 |
As filed with the Securities and Exchange Commission
on May 24, 2000
Registration No. 333-37006
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
- --------------------------------------------------------------------------------
FORM N-14
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |X|
Pre-Effective Amendment No. 1 |X|
Post-Effective Amendment No. ___ |_|
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1940 |_|
Amendment No. ___ |_|
(Check appropriate box or boxes)
------------------------
THE CAPITOL MUTUAL FUNDS
(Exact Name of Registrant as specified in Charter)
111 Center Street
Little Rock, Arkansas 72201
(Address of Principal Executive Offices, including Zip Code)
--------------------------
Registrant's Telephone Number, including Area Code: (800) 626-2275
Richard H. Blank, Jr.
c/o Stephens Inc.
111 Center Street
Little Rock, Arkansas 72201
(Name and Address of Agent for Service)
With copies to:
Robert M. Kurucza, Esq.
Marco E. Adelfio, Esq.
Morrison & Foerster LLP
2000 Pennsylvania Ave., N.W.
Suite 5500
Washington, D.C. 20006
It is proposed that this filing will become effective on June 9, 2000 pursuant
to Rule 488.
No filing fee is required under the Securities Act of 1933 because an indefinite
number of shares of beneficial interest in the Registrant, without par value,
has previously been registered pursuant to Rule 24f-2 under the Investment
Company Act of 1940, as amended. The Registrant filed on August 13, 1999, the
notice required by Rule 24f-2 for its fiscal year ended March 31, 1999 (File No.
33-33144; 811-6030).
<PAGE>
Explanatory Note
This Pre-Effective Amendment No. 1 to the Registration Statement on Form N-14
(the "Registration Statement") of Nations Reserves (the "Trust") is being filed
in order to add the pro forma statement of assets and liabilities and pro forma
statement of operations to Part B of the Registration Statement. All other parts
of the Registration Statement are hereby incorporated by reference.
<PAGE>
NATIONS INTERNATIONAL GROWTH FUND / NATIONS INTERNATIONAL EQUITY FUND
Pro Forma Combining Statement of Net Assets (unaudited)
MARCH 31, 2000
<TABLE>
<CAPTION>
NATIONS
NATIONS INTERNATIONAL NATIONS
INTERNATIONAL EQUITY MASTER INTERNATIONAL ADJUSTMENTS TO PRO FORMA
GROWTH FUND PORTFOLIO EQUITY FUND PRO FORMA COMBINED
(IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S)
------------------------------------------------------------- ------------
<S> <C> <C> <C> <C> <C>
Total Investments in Master Portfolio $ 135,548 $ 1,021,188 $ - $ 1,156,736
========== ============ ===========
Nations Master Investment Trust, International
Equity Portfolio Investments in securities
in Master Portfolio - - $ 913,055 135,548 (a) 1,048,603
OTHER ASSETS AND LIABILITIES:
Cash 335 - - 335
Receivable for investment securities sold 6,685 - - 6,685
Receivable for Fund shares sold 11,618 - 31,258 42,876
Dividend and interest receivable 304 - - 304
Prepaid expenses - - 261 261
Collateral on securities loaned (15,979) - - (15,979)
Payable for Fund shared redeemed (1,230) - (1,426) (2,656)
Investment advisory fee payable (104) - - (104)
Administration fee payable (28) - (134) (162)
Shareholder servicing and distribution
fees payable (9) - (37) (46)
Payable for investment securities purchased (6,864) - - (6,864)
Accrued Directors' fees and expenses (16) - (59) (75)
Other (54) - (16) (70)
------------------------------------------------------------- ------------
Total Other Assets and Liabilities (5,342) - 29,847 135,548 24,505
------------------------------------------------------------- ------------
NET ASSETS $ 130,206 $ 1,021,188 $ 942,902 $ 135,548 $ 1,073,108
============================================================= ============
NET ASSETS BY CLASS:
Primary A $ 96,460 $ - $ 866,731 $ - $ 963,191
Primary B - - - - -
Investor A 31,710 - 43,111 - 74,821
Investor B 1,493 - 32,073 - 33,566
Investor C 543 - 987 - 1,530
------------------------------------------------------------- ------------
$ 130,206 $ 942,902 $ - $ 1,073,108
------------------------------------------------------------- ------------
SHARES OUTSTANDING BY CLASS:
Primary A 6,786 - 51,785 (1,024)(b) 57,547
Primary B - - - - -
Investor A 2,285 - 2,611 (364)(b) 4,532
Investor B 111 - 1,997 (18)(b) 2,090
Investor C 39 - 63 (5)(b) 97
------------------------------------------------------------- ------------
9,221 - 56,456 (1,411) 64,266
------------------------------------------------------------- ------------
NET ASSET VALUE PER SHARE BY CLASS:
Primary A $ 14.21 $ - $ 16.74 $ - $ 16.74
Primary B $ - $ - $ - $ - $ -
Investor A $ 13.88 $ - $ 16.51 $ - $ 16.51
Investor B $ 13.42 $ - $ 16.06 $ - $ 16.06
Investor C $ 13.92 $ - $ 15.72 $ - $ 15.72
</TABLE>
(a) Investment securities from International Growth invested in the
International Equity Master Portfolio
(b) Reflects the issuance of Nations International Equity Fund shares to holders
of shares of Nations International Growth Fund.
SEE NOTES TO PRO FORMA FINANCIAL STATEMENTS
<PAGE>
Nations International Growth Fund / Nations International Equity Fund
Pro Forma Combining Statement of Operations (unaudited)
TWELVE MONTH PERIOD ENDING MARCH 31, 2000
<TABLE>
<CAPTION>
NATIONS
NATIONS INTERNATIONAL NATIONS
INTERNATIONAL EQUITY MASTER INTERNATIONAL ADJUSTMENTS TO PRO FORMA
GROWTH FUND PORTFOLIO EQUITY FUND PRO FORMA COMBINED
(IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S) (IN 000'S)
------------------------------------------------------------- ----------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME:
Interest $457 $ - $ - $457
Interest allocated from Portfolio - - $1,179 1,179
Dividends (net of foreign withholding taxes of $268) 1,953 - - - 1,953
Dividends allocated from Portfolio (net of foreign
withholding taxes of $1,644) - - 13,695 13,695
Securities lending 61 - - - 61
Expenses allocated from Portfolio - - (3,760) - (3,760)
------------------------------------------------------------- ----------
Total Investment Income 2,471 - 11,114 - 13,585
------------------------------------------------------------- ----------
EXPENSES:
Investment advisory fee 1,459 - 3,366 (127)(a) 4,698
Administration fee 368 - 1,492 125 (a) 1,985
Transfer agent fee 74 - 294 - 368
Custodian fees (c) 78 - 261 (66)(b) 273
Legal and audit fees 159 - 87 (86)(b) 160
Registration & filing fees 31 - 65 (20)(b) 76
Directors' fees and expenses 19 - 19 (19)(b) 19
Interest expense 25 - 6 (31)(d) -
Printing 42 - 97 (20)(b) 119
Other expenses 287 - 35 (302)(c) 20
------------------------------------------------------------- ----------
Subtotal 2,542 - 5,722 (546) 7,718
------------------------------------------------------------- ----------
SHAREHOLDER SERVICING AND DISTRIBUTION FEES
Primary B - - - - -
Investor A 71 - 74 - 145
Investor B 13 - 295 - 308
Investor C 5 - 10 - 15
------------------------------------------------------------- ----------
Subtotal 89 - 379 - 468
------------------------------------------------------------- ----------
Fees waived and/or reimbursed by investment
advisor, administrator and/or distributor (30) - (215) 245 (e) -
------------------------------------------------------------- ----------
TOTAL EXPENSES 2,601 - 5,886 (301) 8,186
------------------------------------------------------------- ----------
NET INVESTMENT INCOME (130) - 5,228 301 5,399
------------------------------------------------------------- ----------
NET REALIZED AND UNREALIZED GAIN/(LOSS) ON INVESTMENTS:
Net realized gain/(loss) from:
Security transactions 65,606 - - 65,606
Security transactions allocated from Portfolio - - 190,991 190,991
Futures contracts (187) - - (187)
Forward foreign exchange contracts and foreign
currency transactions (238) - - (238)
Forward foreign exchange contracts and foreign
currency transactions allocated from Portfolio - - (1,216) (1,216)
------------------------------------------------------------- ----------
Net realized gain/(loss) on investments 65,181 - 189,775 254,956
------------------------------------------------------------- ----------
Change in unrealized appreciation/(depreciation) of:
Securities (22,928) - - (22,928)
Securities allocated from Portfolio - - 88,733 88,733
Futures contracts - - - -
Forward foreign exchange contracts, foreign
currencies and other net assets (10) - - (10)
Forward foreign exchange contracts, foreign
currencies and other net assets allocated from Portfolio - - 94 94
------------------------------------------------------------- ----------
Net change in unrealized appreciation/
(depreciation) of investments (22,938) - 88,827 65,889
------------------------------------------------------------- ----------
Net realized and unrealized gain/(loss)
on investments 42,243 - 278,602 - 320,845
------------------------------------------------------------- ----------
NET INCREASE/(DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS $42,113 $ - $283,830 $301 $326,244
============================================================= ==========
</TABLE>
LEGEND:
(a) Adjustment for reallocating advisory to admin fees.
(b) Adjustment reflects expected savings when the two funds become one.
(c) Adjustment for duplication of expenses due to consolidation of the funds.
(d) Adjustment for interest expense since this is dependent upon portfolio
decision-making.
(e) Adjustment for inapplicability of expense cap.
See Notes to Pro Forma Financial Statements
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