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SECURITIES ACT FILE NO. 33-36697
INVESTMENT COMPANY ACT FILE NO. 811-6166
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [_]
Pre-Effective Amendment No. [_]
Post-Effective Amendment No. 14 [x]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [_]
Amendment No. 16 [x]
(Check appropriate box or boxes)
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THE FAHNESTOCK FUNDS
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(Exact Name of Registrant as Specified in Charter)
125 Broad Street, New York, New York 10004
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(Address of Principal Executive Offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(212) 668-8000
Albert G. Lowenthal
Fahnestock & Co. Inc
125 Broad Street
New York, New York 10004
(NAME AND ADDRESS OF AGENT FOR SERVICES)
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Copies to:
Faith Colish, A Professional Corporation
63 Wall Street
New York, New York 10005
Approximate Date of Proposed Public Offering: Continuous
It is proposed that this filing will become effective (check appropriate box):
[X] immediately upon filing pursuant to paragraph (b)
[ ] on May 1, 1999 pursuant to paragraph (b)
[_] 60 days after filing pursuant to paragraph (a)(1)
[_] on __________ pursuant to paragraph (a)(1)
[_] 75 days after filing pursuant to paragraph (a)(2)
[_] on (date) pursuant to paragraph (a)(2) 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.
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SIGNATURES
Pursuant to the requirements of the Securities Act and the Investment
Company Act, the Fund has duly caused this amendment to the registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of New York, and State of New York, on the 18th day of
May, 1999.
THE FAHNESTOCK FUNDS
By: /s/ Albert G. Lowenthal
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Albert G. Lowenthal, Chairman
Pursuant to the requirements of the Securities Act, this amendment to the
registration statement has been signed below by the following persons in the
capacities and on the date indicated.
Signature Title Date
- ---------- ----- ----
/s/ Albert G. Lowenthal Trustee, Chairman May 18, 1999
- --------------------------- of Board of Trustees
Albert G. Lowenthal, (Chief Executive Officer)
as officer and Trustee
/s/ Richard Wohlman Treasurer (Chief May 18, 1999
- --------------------------- Financial and
Richard Wohlman, as Accounting Officer)
officer and not
individually
/s/ Michael Mendelson Trustee and President May 18, 1999
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Michael Mendelson,
as officer and Trustee
and not individually
/s/ Keith Gunzenhauser Trustee May 18, 1999
- ---------------------------
Keith Gunzenhauser,
as Trustee only and
not individually
/s/ Richard Landau Trustee May 18, 1999
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Richard E. Landau,
as Trustee only and
not individually
/s/ James D. McQuaid Trustee May 18, 1999
- ---------------------------
James D. McQuaid,
as Trustee only and
not individually
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Exhibit m.1
DISTRIBUTION PLAN
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(as amended and restated as of April 14, 1997)
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This Distribution Plan (the "Plan") is adopted in accordance with Rule 12b-
1 (the "Rule") under the Investment Company Act of 1940, as amended (the "Act"),
by the Fahnestock Funds, a business trust created under the laws of the
Commonwealth of Massachusetts (the "Trust"), subject to the following terms and
conditions:
Section 1. Reimbursement of Expenses.
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The Trust will reimburse the distributor of its shares, Fahnestock & Co.
Inc., a New York corporation ("Fahnestock"), for certain expenses incurred by
Fahnestock in connection with the offering and sale of Class A shares of
beneficial interest ("Class A Shares") of the Hudson Capital Appriciation series
of the Trust's shares (the "Fund"). The Trust may reimburse Fahnestock for
distribution expenses at an annual rate not exceeding .50% of the average daily
net value of those assets in the Fund which are represented by Class A Shares
and which have been continuously included in its portfolio for four (4) years or
less; no reimbursement for distribution expenses will be payable during the
fiscal year of the Fund with respect to the portion of its assets represented by
Class A Shares which has been continuously included in its portfolio for more
than four (4) years, as measured by the net asset value of all Class A Shares of
the Fund which have been continuously outstanding for a period of four (4) years
or more as of the last day of its preceding fiscal year. Distribution expenses
incurred in a year in excess of .50% of the daily net asset value of those
assets in the Fund which are represented by Class A Shares and which have been
included in its portfolio for a period of four (4) years or less may be carried
forward and sought to be reimbursed in future years. Interest at the prevailing
broker loan rate may be charged to the Trust on behalf of the Fund on any
expenses carried forward.
Section 2. Expenses Covered by the Plan.
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The Trust may reimburse Fahnestock under Section 1 of the Plan for any
expenses primarily intended to result in the sale of the Fund's Class A Shares,
including, but not limited to: (a) the continuing compensation to Fahnestock's
account representatives and others who engage in or support distribution of
Class A Shares; (b) payments to persons who service Class A shareholder
accounts, including, but not limited to, answering routine inquiries regarding
the Trust or the Fund, processing shareholder transactions and providing any
other shareholder services not otherwise provided by the Trust's transfer agent;
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(c) costs relating to the formation and implementation of marketing and
promotional activities, including, but not limited to, direct mail promotions
and television, radio, newspaper, magazine and other mass media advertising; (d)
costs of printing and distributing prospectuses, statements of additional
information and reports of the Fund to prospective Class A shareholders of the
Fund; (e) costs involved in preparing, printing and distributing sales
literature pertaining to Class A Shares; and (f) costs involved in obtaining
whatever information analyses and reports with respect to marketing and
promotional activities that the Trust may, from time to time, deem advisable
with respect to the Funds.
Section 3. Approval by Shareholders.
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The Plan will not take effect, and no fee will be payable in accordance
with Section 1 of this Plan with respect to the Fund, until the Plan has been
approved by a vote of at least a majority of the outstanding Class A voting
securities of that Fund. Except as otherwise provided or under applicable law,
the Plan will be deemed to have been approved with respect to the Fund so long
as a majority of the outstanding Class A voting securities of the Fund votes for
the approval of the Plan, notwithstanding that: (a) the Plan has not been
approved by a majority of the outstanding voting securities of any other Class
of the Fund, or (b) the Plan has not been approved by a majority of the
outstanding voting securities of the Trust.
Section 4. Approval by Trustees.
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Neither the Plan nor any related agreements will take effect until approved
by a majority vote of both (a) the full Board of Trustees of the Trust and (b)
those Trustees who are not interested persons of the Trust and who have no
direct or indirect financial interest in the operation of the Plan or in any
agreements related to it (the "Qualified Trustees"), cast in person at a meeting
called for the purpose of voting on the Plan and the related agreements.
Section 5. Continuation of the Plan.
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The Plan will continue in effect until December 20, 1991 and thereafter for
so long as its continuance is specifically approved at least annually by the
Trust's Board of Trustees in the manner described in Section 4 above.
Section 6. Termination.
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The Plan may be terminated with respect to the Fund at any time without
penalty by a majority vote of the Qualified Trustees or by vote of a majority of
the outstanding Class A voting securities of the Fund. The Plan may remain in
effect with respect to a Fund even if the Plan has been terminated in
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accordance with this Section 6, or not continued in accordance with Section 5,
with respect to any other Fund.
Section 7. Amendments.
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The Plan may not be amended so as to increase materially the amount of the
fee described in Section 1 above, unless the amendment is approved by a vote of
at least a majority of the outstanding Class A voting securities of the Fund
involved. In addition, no material amendment to the Plan may be made unless
approved by the Trust's Board of Trustees in the manner described in Section 4
above.
Section 8. Selection of Certain Trustees.
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While the Plan is in effect, the selection and nomination of the Fund's
Trustees who are not interested persons of the Fund will be committed to the
discretion of the Trustees then in office who are not interested persons of the
Trust or the Fund.
Section 9. Written Reports.
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In each year during which the Plan remains in effect, any person authorized
to direct the disposition of monies paid or payable by the Trust pursuant to the
Plan or any related agreement will prepare and furnish to the Fund's Board of
Trustees, and the Board will review, at least quarterly, written reports,
complying with the requirements of the Rule which set out the amounts expended
under the Plan with respect to the Fund and purposes for which those
expenditures were made.
Section 10. Preservation of Materials.
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The Trust will preserve copies of the Plan, any agreement relating to the
Plan and any report made pursuant to Section 9 above for a period of not less
than six years (the first two years in an easily accessible place) from the date
of the Plan, agreement or report.
Section 11. Meanings of Certain Terms.
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As used in the Plan, the terms "interested person" and "majority of the
outstanding voting securities" will be deemed to have the same meaning that
those terms have under the Act and the rules and regulations under the Act,
subject to any exemption that may be granted to the Trust under the Act by the
Securities and Exchange Commission.
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IN WITNESS WHEREOF, the Trust has adopted the Plan as of December 20, 1990
and amended it as of April 14, 1997.
THE FAHNESTOCK FUNDS
By: /s/ Albert G. Lowenthal
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Albert G. Lowenthal, President
