Registration No. 33-65818
File No. 811-7862
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. 9 [X]
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]
Amendment No. 11 [X]
CASH RESOURCE TRUST
(Exact name of registrant as specified in charter)
901 East Byrd Street, Richmond, Virginia 23219
(Address of principal executive offices)
(804) 782-3647
(Registrant's Telephone Number)
PAUL F. COSTELLO, President
901 East Byrd Street
Richmond, Virginia 23219
(Name and address of agent for service)
Copy to:
TIMOTHY W. DIGGINS, Esquire
ROPES & GRAY
One International Place
Boston, Massachusetts 02110
It is proposed that this filing will become effective:
[X] immediately upon filing pursuant to paragraph (b)
[ ] on [date] pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)
[ ] on (date) 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
[ ] 60 days after filing pursuant to paragraph (a)(i)
[ ] on (date) pursuant to paragraph (a)(i)
<PAGE>
CASH RESOURCE TRUST
PART A
PROSPECTUS
<PAGE>
Supplement to the Prospectus
Dated October 13, 1998 of
Cash Resource Trust
Cash Resource Money Market Fund
Cash Resource U.S. Government Money Market Fund
Cash Resource Tax-Exempt Money Market Fund
Cash Resource California Tax-Exempt Money Market Fund
Cash Resource New York Tax-Exempt Money Market Fund
(Each a "Fund", together the "Funds")
1. Effective October 29, 1999, the Funds will change their names as follows:
<TABLE>
<CAPTION>
Current Fund Name New Fund Name
<S> <C>
Cash Resource Money Market Fund Evergreen CRT Money Market Fund
Cash Resource U.S. Government Money Market Fund Evergreen U.S. Government Money Market Fund
Cash Resource Tax-Exempt Money Market Fund Evergreen CRT Tax-Exempt Money Market Fund
Cash Resource California Tax-Exempt Money Market Fund Evergreen CRT California Tax-Exempt Money Market Fund
Cash Resource New York Tax-Exempt Money Market Fund Evergreen CRT New York Tax-Exempt Money Market Fund
</TABLE>
2. In addition, by this supplement Evergreen U.S. Government Money Market Fund
(formerly Cash Resource U.S. Government Money Market Fund) will add Class B,
Class C and Class Y shares. The table set forth below summarizes the shareholder
transaction costs associated with an investment in Class B, Class C and Class Y
shares.
EXPENSE SUMMARY
Expenses are one of several factors to consider when investing in a
Fund. The following tables are provided to help you understand the expenses of
investing in Class B, Class C and Class Y shares of Evergreen U.S. Government
Money Market Fund and expenses incurred by the Fund. Expenses shown are based on
estimated expenses for the upcoming fiscal year end. The Examples show
cumulative expenses attributable to a hypothetical $1,000 investment in the
Class B, Class C and Class Y shares of the Fund over specified periods.
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class B Class C Class Y
Shareholder Transaction Expenses Shares Shares Shares
Maximum Sales Charge Imposed
on Purchases (as a % of offering price) None None None
Maximum Contingent Deferred Sales Charge
(as a % of original purchase price or redemption
proceeds, whichever is lower) 5%(1) 1%(1) None
</TABLE>
(1) The deferred sales charge on Class B shares declines from 5% to 1% on
amounts redeemed within six years after the month of purchase. The deferred
sales charge on Class C shares is 1% on amounts redeemed within one year
after the month of purchase. No sales charge is imposed on redemptions made
thereafter. See "How to Buy Shares" for more information.
<TABLE>
<CAPTION>
Annual Fund Operating Expenses
<S> <C> <C> <C>
Class B Class C Class Y
Investment Advisory Fee 0.18% 0.18% 0.18%
12b-1 Fee 1.00% 1.00% 0.00%
Other Expenses 0.26% 0.26% 0.26%
------ ----- -----
Total Fund Operating Expenses 1.44% 1.44% 0.44%
</TABLE>
Examples
You would pay the following expenses on a $1,000 investment, assuming
5% annual return and reinvestment of all dividends:
Assuming Redemption at Assuming No
End of Period Redemption
Class B Class C Class Y Class B Class C
After 1 Year $65 $25 $5 $15 $15
After 3 Years $76 $46 $14 $46 $46
After 5 Years $99 $79 $25 $79 $79
After 10 Years $148 $172 $55 $148 $172
The Examples should not be considered a representation of future performance;
actual expenses may vary.
BUYING AND SELLING SHARES OF THE FUNDS
The information contained in the section of the prospectus entitled
"How to Buy Shares" currently relates to purchases of the Class A shares of the
Fund only. This section is supplemented with the following information regarding
the purchase of Class B, Class C and Class Y shares of Evergreen U.S. Government
Money Market Fund.
Class B Shares. You may purchase Class B shares at net asset value without an
initial sales charge. However, you may pay a Contingent Deferred Sales Charge
("CDSC") if you redeem shares within six years after the month of purchase. The
amount of the CDSC (expressed as a percentage of the lesser of the current net
asset value or original cost) will vary according to the number of years from
the month of purchase of Class B shares as set forth below.
<TABLE>
<CAPTION>
<S> <C>
CDSC
Redemption Timing Imposed
- ----------------- -------
Month of purchase and the first twelve-month period following the month of purchase 5.00%
Second twelve-month period following the month of purchase 4.00%
Third twelve-month period following the month of purchase 3.00%
Fourth twelve-month period following the month of purchase 3.00%
Fifth Twelve-month period following the month of purchase 2.00%
Sixth Twelve-month period following the month of purchase 1.00%
No CDSC is imposed on amounts redeemed thereafter.
</TABLE>
The CDSC is deducted from the amount of the redemption and is paid to
the Fund's distributor, Evergreen Distributor, Inc. ("EDI"). Class B shares are
subject to higher distribution and/or shareholder service fees than Class A
shares for a period of seven years after the month of purchase (after which it
is expected that they will convert to Class A shares without imposition of a
front-end sales charge). The higher fees mean a higher expense ratio, so Class B
shares pay correspondingly lower dividends. The Fund will not normally accept
any purchase of Class B shares in the amount of $250,000 or more.
At the end of the period ending seven years after the end of the
calendar month in which the shareholder's purchase order was accepted, Class B
shares will automatically convert to Class A shares and will no longer be
subject to the higher distribution services fee imposed on Class B shares. Such
conversion will be on the basis of the relative net asset values of the two
classes, without the imposition of any sales load, fee or other charge. The
purpose of the conversion feature is to reduce the distribution services fee
paid by holders of Class B shares that have been outstanding long enough for EDI
to have been compensated for the expenses associated with the sale of such
shares.
Class C Shares. Class C shares are only offered through broker-dealers who have
special distribution agreements with EDI. You may purchase Class C shares at net
asset value without an initial sales charge and, therefore, the full amount of
your investment will be used to purchase Fund shares. However, you will pay a
1.00% CDSC if you redeem shares during the month of purchase and the 12-month
period following the month of purchase. No CDSC is imposed on amounts redeemed
thereafter. Class C shares incur higher distribution and/or shareholder service
fees than Class A shares, but unlike Class B shares, do not convert to any other
class of shares of the Fund. The higher fees mean a higher expense ratio, so
Class C shares pay correspondingly lower dividends. The Fund will not normally
accept any purchase of Class C shares in the amount of $500,000 or more.
Class Y Shares. Class Y shares are offered at net asset value without a
front-end sales charge or a CDSC. Class Y shares are only offered to (1) persons
who at or prior to December 31, 1994 owned shares in a mutual fund advised by
Evergreen Asset Management Corp. ("EAMC"), (2) certain institutional investors
and (3) investment advisory clients of an investment advisor of an Evergreen
Fund (or the investment advisor's affiliates).
The information contained in the Funds' prospectus entitled "MANAGEMENT
- - Distribution Services" is supplemented to reflect that, in addition to the
Fund's Class A shares, the Fund has adopted a Distribution Plan pursuant to Rule
12b-1 under the Investment Company Act of 1940 with respect to its Class B and
Class C shares.
The expense table above reflects each Class' 12b-1 fee.
3. The Funds' prospectus is amended to reflect the following changes in
certain of the Funds' service providers:
Distributor. Evergreen Distributor, Inc.("EDI"), 90 Park Avenue, New York,
New York, 10016. EDI is a subsidiary of The BISYS Group, Inc.
Transfer Agent and Dividend Disbursing Agent. Evergreen Service Company ("ESC"),
200 Berkeley Street, Boston, Massachusetts 02116, acts as the Funds' transfer
agent and dividend disbursing agent. ESC is an indirect, wholly owned subsidiary
of First Union Corporation.
Custodian. State Street Bank and Trust Company, P.O. Box 9021, Boston,
Massachusetts 02205-9827, acts as the Funds' custodian.
Administrator. Evergreen Investment Services, Inc. ("EIS") serves as
administrator to the Funds. As administrator, and subject to the supervision and
control of the Trust's Board of Trustees, EIS provides the Funds with
facilities, equipment and personnel. For its services as administrator, EIS is
entitled to receive a fee from each Fund at an annual rate of 0.02% of the
Fund's average daily net assets.
September 29, 1999
<PAGE>
PART C
OTHER INFORMATION
Item 24. Financial Statements and Exhibits
(a) Financial Statements:
(1) Statements of Assets and Liabilities - July 31, 1998 -
Incorporated by Reference in Part B.
Statements of Operations - Year Ended July 31, 1998
Incorporated by Reference in Part B.
Statements of Changes in Net Assets -- Years or Periods Ended
July 31, 1998 and 1997 -Incorporated by Reference in Part B.
Financial Highlights - Included in Part A. Notes to
Financial Statements - Incorporated by Reference in
Part B.
Independent Auditors Report - Incorporated by
Reference in Part B.
Included in Part C: None.
(b) Exhibits
(1)(A) Agreement and Declaration of Trust(1)
(B) Amendments to Agreement and Declaration of Trust(2)(3)
(2) Bylaws(1)
(3) Inapplicable
(4)(A) Forms of certificate representing shares of beneficial
interest(1)
(B) Portions of Agreement and Declaration of Trust Relating to
Shareholders' Rights(1)
(C) Portions of Bylaws Relating to Shareholders' Rights(1)
(5)(A) Form of Management Contract dated February 1, 1998(9)
(6) Form of Distribution Agreement dated February 1, 1998(10)
(7) Inapplicable
(8)(A) Custody Agreement dated June 10, 1999 (10)
(B) Form of Administration Agreement dated June 10, 1999 (10)
(9)(A) Trasfer Agency Agreement dated September 10, 1999 (10)
(B) Draft Processing Agency Agreement dated December 20, 1993(4)
(C) Form of Shareholder Servicing Plan (8)
(10) Opinion and Consent of Ropes & Gray(2)
(11) Consent of Independent Auditors (9)
(12) Inapplicable
(13) Initial Capital Agreement dated December 17, 1993(4)
(14) Inapplicable
(15) Plan of Distribution (10)
(16) Schedule of Computation of Performance(5)
(18) Multiple Class Plan (10)
- ------------------
(1) Incorporated by reference from the Registrant's Registration Statement
on Form N-1A under the Securities Act of 1993, as amended, filed on
July 7, 1993.
(2) Incorporated by reference from Pre-Effective Amendment No. 1 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1993, as amended, filed on October 15, 1993 (File No. 33-65818).
(3) Incorporated by reference to Pre-Effective Amendment No. 2 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended, filed on November 5, 1993 (File No. 33-65818).
(4) Incorporated by reference to Post-Effective Amendment No. 1 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended, filed on October 3, 1994 (File No. 33-65818).
(5) Incorporated by reference to Post-Effective Amendment No. 2 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended, filed on September 29, 1995 (File No.
33-65818).
(6) Incorporated by reference to Post-Effective Amendment No. 3 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended, filed on August 12, 1996 (File No. 33-65818).
(7) Incorporated by reference to Post-Effective Amendment No. 6 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended filed on September 30, 1997 (File No.
33-65818).
(8) Incorporated by reference to Post-Effective Amendment No. 7 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended filed on January 30, 1998 (File No. 33-65818).
(9) Incorporated by reference to Post-Effective Amendment No. 8 to the
Registrant's Registration Statement on Form N-1A under the Securities
Act of 1933, as amended filed on October 13, 1998 (File No. 33-65818).
(10) To be filed by amendment.
Item 25. Persons Controlled by or Under Common Control with Registrant
None.
Item 26. Number of Record Holders of Securities (as of August 30, 1999)
Series Number of Record Holders
------ ------------------------
Cash Resource Money Market Fund
Cash Resource U.S. Government
Money Market Fund
Cash Resource Tax-Exempt Money
Market Fund
Cash Resource California Tax-Exempt
Money Market Fund
Cash Resource New York Tax-Exempt
Money Market Fund
Item 27. Indemnification
The information required by this item is incorporated herein by
reference from the Registrant's Registration Statement on Form N-1A under the
Securities Act of 1933, as amended (File No. 33-65818).
Item 28. Business and Other Connections of Investment Adviser
Mentor Investment Advisors, LLC ("Mentor Advisors"), located at 901
East Byrd Street, Richmond, Virginia 23219, serves as the Registrant's
investment adviser.
The business and other connections of each director, officer, or partner
of Mentor Advisors in which such director, officer, or partner is or has been,
at any time during the past two fiscal years, engaged for his own account or in
the capacity of director, officer, employee, partner, or trustee are set forth
in the following table.
(a) The following is additional information with respect to the directors
and officers of Mentor Investment Advisors, LLC:
Business, Profession,
Vocation or Employment
Position with during the past
Name Investment Adviser two fiscal years
John G. Davenport Managing Director Managing Director,
Mentor Investment
Group, LLC.
R. Preston Nuttall Managing Director Managing Director,
Mentor Investment
Group, LLC.
Paul F. Costello Managing Director Managing Director,
Mentor Investment Group,
LLC; President, Mentor
Funds, Mentor
Institutional Trust,
Mentor Variable Investment
Portfolios, Cash
Resource Trust, Mentor
Income Fund, Inc.; and
America's Utility Fund,
Inc.; Senior Vice
President, Mentor
Distributors, LLC;
Managing Director, Mentor
Perpetual Advisors, LLC.
Theodore W. Price Managing Director Managing Director,
Mentor Investment
Group, LLC.
P. Michael Jones Managing Director Managing Director,
Mentor Investment
Group, LLC.
Peter J. Quinn, Jr. Managing Director Managing Director,
Mentor Investment
Group, LLC.
Daniel J. Ludeman Chairman Chairman and Chief
Executive Officer,
Mentor Investment
Group, LLC.
Karen H. Wimbish Managing Director Managing Director,
Mentor Investment
Group, LLC.
Michael A. Wade Treasurer and Vice President, Mentor
Controller Investment Group, LLC.
* The address of Mentor Investment Group, Inc., Wheat, First Securities, Inc.,
Wheat First Butcher Singer, Inc., Mentor Funds, and Mentor Income Fund, Inc.,
is 901 East Byrd Street, Richmond, VA 23219.
Item 29. Principal Underwriters:
(a) Mentor Distributors, LLC, the Fund's principal underwriter, acts as
principal underwriter for the following investment companies:
The Mentor Funds
o Mentor Growth Portfolio
o Mentor Strategy Portolio
o Mentor Short-Duration Income Portfolio
o Mentor Balanced Portfolio
o Mentor Capital Growth Portfolio
o Mentor Perpetual Global Portfolio
o Mentor High Income Portfolio
o Mentor Income and Growth Portfolio
o Mentor Quality Income Portfolio
o Mentor Municipal Income Portfolio
o Mentor Institutional U.S. Government Money Market Portfolio
o Mentor Institutional Money Market Portfolio
Cash Resource Trust
o Cash Resource Money Market Fund
o Cash Resource U.S. Government Money Market Fund
o Cash Resource Tax-Exempt Money Market Fund
o Cash Resource California Tax-Exempt Money Market Fund
o Cash Resource New York Tax-Exempt Money Market Fund
Mentor Institutional Trust
o Mentor U.S. Government Cash Management Portfolio
o Mentor Fixed-Income Portfolio
o Mentor Perpetual International Portfolio
Mentor Investment Group
o Mentor Income Fund
o America's Utility Fund
Mentor Variable Investment Portfolios
o Mentor VIP Growth Portfolio
o Mentor VIP Strategy Portfolio
o Mentor VIP Balanced Portfolio
o Mentor VIP Capital Growth Portfolio
o Mentor VIP Perpetual International Portfolio
(b) Information concerning officers of Mentor Distributors, LLC:
Name And Principal Positions And Offices Positions And Offices
Business Address* With Underwriter With Registrant
- ----------------- -------------------- ---------------------
Lynn Mangum Chairman Inapplicable
D'Ray Moore President Inapplicable
Dennis Sheehan Executive Vice President Inapplicable
William J. Tomko Senior Vice President Inapplicable
Mark J. Rybarczyk Senior Vice President Inapplicable
Kevin J. Dell Vice President and Inapplicable
Secretary
Michael D. Burns Vice President Inapplicable
David Blackmore Vice President Inapplicable
Robert L. Tuch Assistant Secretary Inapplicable
Steven Ludwig Compliance Officer Inapplicable
*Principal Address for all Officers:
BISYS Fund Services, Inc.
3435 Stelzer Road
Columbus, Ohio 43219-8000
(c) Inapplicable.
Item 30. Location of Accounts and Records
Persons maintaining physical possession of accounts, books and other
documents required to be maintained by Section 31(a) of the Investment Company
Act of 1940 and the Rules promulgated thereunder are:
Registrant's Clerk, Michael H. Koonce; Registrant's investment adviser,
Mentor Advisors, Registrant's transfer agent, Evergreen Service Company and
Registrant's custodian, State Street Bank and Trust Company. The address of the
Mentor Advisors is 901 East Byrd Street, Richmond, Virginia 23219. The
address of the Clerk and the transfer agent is 200 Berkeley Street, Boston,
Massachusetts 02116. The address of the custodian is 2 Heritage Drive,
North Quincy, Massachusetts 02171.
Item 31. Management Services
None.
Item 32. Undertakings
(a) The Registrant undertakes, if requested to do so by the holders
of at least 10% of the Registrant's outstanding shares of
beneficial interest, to call a meeting of shareholders for the
purpose of voting upon the question of removal of a Trustee or
Trustees and to assist in communications with other
shareholders as required by Section 16(c) of the Investment
Company Act of 1940.
(b) The Registrant undertakes to furnish to each person to whom a
prospectus of the Registrant is delivered a copy of the
Registrant's latest annual report to shareholders, upon request
and without charge.
NOTICE
A copy of the Agreement and Declaration of Trust of the Trust is on
file with the Secretary of State of The Commonwealth of Massachusetts, and
notice is hereby given that this instrument is executed on behalf of the
Registrant by an officer of the Registrant as an officer and not individually
and that the obligations of or arising out of this instrument are not binding
upon any of the Trustees, officers, or shareholders individually but are binding
only upon the assets and property of the Registrant.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant 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 be signed on its behalf by the undersigned, thereto
duly authorized, in the City of Richmond, and the Commonwealth of Virginia on
this 29th day of September, 1999.
CASH RESOURCE TRUST
By:/s/ Paul F. Costello
------------------------
Name: Paul F. Costello
Title: President
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities indicated on the 29th day of September, 1999.
Signature Title
--------- -----
* Chairman; Trustee
------------------
Daniel J. Ludeman
* Trustee
------------------
Arnold H. Dreyfuss
* Trustee
------------------
Thomas F. Keller
* Trustee
------------------
Louis W. Moelchert, Jr.
* Trustee
------------------
Troy A. Peery, Jr.
* Trustee
--------------------
Peter J. Quinn, Jr.
* Trustee
--------------------
Arch T. Allen, III
* Trustee
--------------------
Weston E. Edwards
* Trustee
--------------------
Jerry R. Barrentine
* Trustee
--------------------
J. Garnett Nelson
/s/ Michael A. Wade
------------------- Treasurer and Chief Financial
Michael A. Wade Officer
/s/ Paul F. Costello President; Principal Executive
-------------------- Officer
Paul F. Costello
*By:/s/ Paul F. Costello
--------------------
Paul F. Costello
Attorney-in-Fact
<PAGE>
EXHIBIT INDEX
Exhibit No. Exhibit
- ----------- -------
None
