SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to ss. 240.14a-11(c) or ss. 240.14a-12
Lindner Investments
(Name of Registrant as Specified in its Charter)
N/A
(Name of Person(s) Filing Proxy Statement if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4 and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction :
(5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
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[LINDNER FUNDS LETTERHEAD]
September 15, 1999
Dear Shareholder:
The Board of Trustees has unanimously decided to wind down and terminate the
Lindner International Fund and the Lindner High-Yield Bond Fund. These
funds have not performed well and their assets have never grown to the size
that would permit efficient management. The costs of operating these funds
continues to be a drain on their performance. Effective June 25, 1999, the
funds stopped accepting new money from investors other than through dividend
reinvestments.
We are now asking for your approval to liquidate both funds by selling off
their remaining assets and distributing the cash proceeds to shareholders on
a pro rata basis. These liquidations are explained in the attached Proxy
Statement. Liquidation requires a 2/3 vote of approval by shareholders.
Your vote is important. Please review the proxy statement then take a moment
to complete, sign and mail your proxy card(s). A postage-paid envelope is
enclosed for your convenience. If the date of the meeting approaches and we
have not received your vote, you may receive a telephone call from a
representative of Lindner Asset Management, our investment adviser,
reminding you to vote your shares.
We appreciate your prompt attention to this important matter.
Sincerely,
/S/ DOUG T. VALASSIS
Doug T. Valassis, Chairman
<PAGE>
LINDNER INVESTMENTS
Lindner International Fund
Lindner High-Yield Bond Fund
7711 Carondelet Avenue, Suite 700
St. Louis, MO 63105
NOTICE OF SPECIAL JOINT MEETING OF SHAREHOLDERS
To be Held on October 15, 1999
A special joint meeting of shareholders will be held at 9:00 a.m., Central
Time, on Friday, October 15, 1999 at 7711 Carondelet Avenue, St. Louis,
Missouri 63105 for the following funds (individually a "Fund" and
collectively the "Funds"), each of which is a series of Lindner Investments:
Lindner International Fund
Lindner High-Yield Bond Fund
The meeting will be held for shareholders to approve the liquidation of
their respective Fund and the distribution of such Fund's net assets to
shareholders.
The Board of Trustees of Lindner Investments unanimously recommends that you
approve the liquidation of each Fund, as is more fully described in the
accompanying Proxy Statement.
Shareholders of record at the close of business on September 10, 1999, are
the only persons entitled to notice of and to vote at the meeting.
Your attention is directed to the attached Proxy Statement. We hope you can
attend. Whether or not you expect to be present at the upcoming meeting,
please fill in, sign, date and mail the enclosed proxy or proxies as
promptly as possible in order to save further solicitation expense. We
respectfully ask for your cooperation in returning your proxy promptly. A
stamped return envelope is included for your convenience. If you are
present at the meeting, you may then revoke your proxy and vote in person,
as explained in the Proxy Statement in the section entitled "Special Joint
Meeting of Shareholders."
/S/ BRIAN L. BLOMQUIST
Brian L. Blomquist,
Secretary of Lindner Investments
Dated: September 15, 1999
<PAGE>
PROXY STATEMENT
LINDNER INVESTMENTS
Lindner International Fund
Lindner High-Yield Bond Fund
7711 Carondelet Avenue, Suite 700
St. Louis, MO 63105
SPECIAL JOINT MEETING OF SHAREHOLDERS
To be held on October 15, 1999
The enclosed proxy is solicited by the Board of Trustees of Lindner
Investments, a Massachusetts business trust, in connection with a special
joint meeting of shareholders of Lindner International Fund and Lindner
High-Yield Bond Fund to be held at 9:00 a.m., Central Time, on Friday,
October 15, 1999, and any adjournments thereof (the "Meeting"). The costs of
solicitation, including the cost of preparing and mailing the Notice of
Meeting of Shareholders and this Proxy Statement, will be borne by the
Funds, and this Proxy Statement has been first mailed to shareholders on
September 15, 1999. Representatives of Lindner Asset Management, Inc., the
current investment adviser of each Fund, may, without cost to the Funds,
solicit proxies on behalf of management of the Funds by means of mail,
telephone or personal calls. The address of the Adviser is listed above.
A proxy may be revoked before the Meeting by giving written notice of
revocation to the Secretary of Lindner Investments, or at the Meeting prior
to voting. Unless revoked, properly executed proxies in which choices are
not specified by the shareholders will be voted "FOR" each item for which no
choice is specified, in accordance with the recommendation of the Board of
Trustees. In instances where choices are specified by the shareholders in
the proxy, those proxies will be voted or the vote will be withheld in
accordance with the shareholder's choice. Abstentions will be counted as
present for purposes of determining whether a quorum of shares is present at
the Meeting, and will have the same effect as a vote "against" such item.
Under the Rules of the New York Stock Exchange, the proposed liquidation of
the Funds is considered "non-discretionary," and brokers who hold Fund
shares in street name for customers are not authorized to vote on such
proposal on behalf of their customers who have not furnished the broker
specific voting instructions. If a broker returns a "non-vote" proxy,
indicating a lack of authority to vote on a proposal, then the shares
covered by such non-vote shall be counted as present for purposes of
calculating whether a quorum is present but shall be counted as a "no" vote
with respect to the proposal to liquidate a Fund. So far as the Board of
Trustees is aware, no matter other than those described in this Proxy
Statement will be acted upon at the Meeting. Should any other matters
properly come before the Meeting calling for a vote of shareholders, it is
the intention of the persons named as proxies in the enclosed proxy to act
upon such matters according to their best judgment.
Only shareholders of record of each Fund at the close of business on
September 10, 1999 (the "Record Date"), may vote at the Meeting or any
adjournment thereof. As of that date, there were issued and outstanding
shares of beneficial interest of each Fund as follows:
Investor Institutional Total
Shares Shares Shares
------ ------ ------
Lindner International Fund 138,766 -0- 138,766
Lindner High-Yield Bond Fund 117,551 -0- 117,551
Each shareholder of a Fund is entitled to vote that number of shares (whole
fractional shares) that the shareholder owns of record on the Record Date.
Shareholders of each Fund will vote separately, that is only shareholders of
the Lindner International Fund will vote on the proposal to liquidate that
Fund, and only shareholders of Lindner High-Yield Bond Fund will vote on the
proposal to liquidate that Fund. None of the matters to be presented at the
Meeting will entitle any shareholder to cumulative voting or to dissent from
the proposal and seek appraisal rights. A list of those persons who, to the
knowledge of Fund management, beneficially owned more than 5% of the voting
shares of any class of any of the Funds as of the Record Date is set forth
in Exhibit A to this Proxy Statement.
In the event that sufficient votes are not received for the adoption of the
proposed liquidation by one or both Funds, an adjournment or adjournments of
the Meeting for that Fund or for both Funds may be sought. Any adjournment
would require a vote in favor of the adjournment by the holders of a
majority of the shares present at the Meeting for that Fund (or any
adjournment thereof) in person or by proxy. In such circumstances, the
persons named as proxies will vote in favor of any proposed adjournment.
Copies of each Fund's most recent Annual and Semi-Annual Reports are
available to shareholders upon request. If you would like to receive a
copy, please contact the Funds at 7711 Carondelet Avenue, Suite 700, St.
Louis, Missouri 63105 or call (800) 995-7777 and one will be sent, without
charge, by first-class mail within three business days of your request.
PROPOSAL TO APPROVE THE LIQUIDATION OF
LINDNER INTERNATIONAL FUND AND LINDNER HIGH-YIELD BOND FUND
Reasons for Liquidating
The Lindner International Fund commenced operations on January 1, 1995, and
the Lindner High-Yield Bond Fund commenced operations on April 13, 1998.
Each Fund is a separate series (or portfolio) of Lindner Investments. Both
Funds have been unable to attract enough assets to realize any meaningful
economies of scale or to achieve competitive investment performance. For
example, the percentages of total expenses to net assets for the
International Fund for the fiscal years ended June 30, 1997, 1998 and 1999
were 2.51%, 1.96% and 2.25%, respectively, which were substantially higher
than the average total expense ratio for other mutual funds with similar
investment objectives and management styles. Similarly, the percentage of
total expenses to net assets for the High-Yield Bond Fund for the fiscal
year ended June 30, 1999, was 2.09%, without taking into account the
Adviser's waiver of investment management fees. This expense ratio is also
higher than the average total expense ratio for other mutual funds with
similar investment objectives and management styles. At August 31, 1999,
the International Fund had net assets of $992,456 and the High-Yield Bond
Fund had net assets of $1,030,872.
The investment performance of both Funds has been very disappointing. The
International Fund's total returns for fiscal years ended June 30, 1997,
1998 and 1999, and since its inception on January 1, 1995, were 14.76%,
- -20.31%, -15.77%, and -14.87%, respectively. The High-Yield Bond Fund's
total returns for the fiscal year ended June 30, 1999 and since its
inception on April 13, 1998 were -12.40% and -10.47%, respectively. The
portfolio manager of the International Fund, Mr. Robert A. Lange, left the
employment of the Adviser in April 1999, and since April 1999, portfolio
investments for both Funds have been managed by an Investment Committee
established by the Adviser's Board of Directors. Effective June 25, 1999,
both Funds were closed to new investors and no sales of shares have been
accepted from investors since that date other than through the reinvestment
of dividends.
On June 24, 1999 and August 26, 1999, the Boards of Trustees of Lindner
Investments considered the recommendation of the Adviser that the
International Fund and the High-Yield Bond Fund be liquidated and
terminated. The Adviser informed the Trustees that it believes that the
small size of each of the Funds would make it difficult to find an
alternative investment adviser interested in managing either of such Funds.
The Adviser reviewed the tax consequences of a liquidation with the Trustees
and explained that the payment of liquidating distributions would be a
taxable event to shareholders (see "Federal Income Tax Consequences" below).
The Board of Trustees, including the independent Trustees present,
unanimously approved a plan of liquidation for each Fund (individually a
"Liquidation Plan" and collectively the "Liquidation Plans"), subject to
approval by the shareholders of each Fund, voting separately. Copies of the
Liquidation Plans are set forth as Exhibit B to this Proxy Statement. The
Board of Trustees also determined to recommend that shareholders of each
Fund approve its Liquidation Plan. If the Liquidation Plan is approved by
each Fund's shareholders, the portfolio securities and other assets of that
Fund will be sold, creditors will be paid or reserves for payments to
creditors established, and the net proceeds of such sales will be
distributed to shareholders in cash, pro rata in accordance with their
shareholdings.
If shareholders of a Fund do not approve liquidation, the Board of Directors
will meet to determine an alternative course of action.
Summary of the Liquidation Plans
For each Fund, the Plan of Liquidation will become effective on the day of
its approval by shareholders (the "Effective Date"). From the Effective
Date through the completion of liquidation, Lindner Asset Management will
continue to act as the investment adviser for each Liquidating Fund. As
soon as practicable after the Effective Date of a Fund's Liquidation Plan,
such Fund will complete the sale of its portfolio securities in order to
convert its assets to cash. After the Effective Date, such Fund will not
engage in any business activity except for the purpose of winding up its
business and affairs, preserving the value of that Fund's assets and
distributing such assets to shareholders after the payment to (or
reservation of assets for payment to) all creditors of that Fund. No
further requests for redemptions of shares will be honored after the
Effective Date of a Fund's Liquidation Plan. All contracts entered into by
or on behalf of a Fund will terminate upon consummation of the transactions
contemplated by such Fund's Liquidation Plan. After the Effective Date of a
Fund's Liquidation Plan, and in any event within 60 days thereafter, such
Fund will mail to each shareholder a liquidating distribution equal to the
shareholder's proportionate interest in the remaining net assets of the Fund
and any pertinent or necessary information concerning the sources of the
liquidating distribution that a shareholder may need for his or her personal
income tax returns.
After the distribution of assets to shareholders, each Fund will be
terminated in accordance with its Liquidation Plan and applicable provisions
under Massachusetts law. The Liquidation Plans provide that the Board of
Trustees may authorize such variations from, or amendments to, the
provisions of the Liquidation Plans as may be necessary or appropriate to
effect the complete liquidation and termination of the Funds in accordance
with the purposes to be accomplished by the Liquidation Plans.
Federal Income Tax Consequences
Payment by a Fund of liquidating distributions to shareholders will be a
taxable event. Because the income tax consequences for a particular
shareholder may vary depending on individual circumstances, each shareholder
is urged to consult his or her own tax adviser concerning the federal, state
and local tax consequences of receipt of a liquidating distribution.
Each Fund currently qualifies, and intends to continue to qualify through
the end of the liquidation period, for treatment as a regulated investment
company under the Internal Revenue Code of 1986, as amended, so that it will
be relieved of federal income tax on any investment company taxable income
or net capital gain (the excess of net long-term capital gain over net
short-term capital loss) from the sale of its assets. The payment of
liquidation distributions will be a taxable event to shareholders. Each
shareholder will be viewed as having sold his or her Fund shares for an
amount equal to the liquidation distribution(s) he or she receives. Each
shareholder will recognize gain or loss in an amount equal to the difference
between (a) the shareholder's adjusted basis in the Fund shares, and (b)
such liquidation distribution(s). The gain or loss will be capital gain or
loss to the shareholder if the Fund shares were capital assets in the
shareholder's hands and generally will be long-term if the Fund shares were
held for more than one year before the liquidation distribution is received.
Immediately prior to declaring the liquidating distribution, each Fund will
declare a final dividend of all current but undistributed income. This
dividend will be paid at the same time as the liquidating distribution, and
shareholders will be notified of the portion of the total distribution that
constitutes the final dividend. The balance of the liquidating distribution
will be treated as an amount realized from the sale of Fund shares, as
discussed above.
Each Fund generally will be required to withhold tax at the rate of 31% with
respect to any liquidation distribution paid to individuals and certain
other non-corporate shareholders who fail to certify to the Fund that their
social security number or taxpayer identification number provided to the
Fund is correct and that the shareholder is not subject to backup
withholding.
The foregoing summary is generally limited to the material federal income
tax consequences to shareholders who are individual United States citizens
and who hold shares as capital assets. It does not address the federal
income tax consequences to shareholders who are corporations, trusts,
estates, tax-exempt organizations, pension plans, Individual Retirement
Accounts or non-resident aliens. This summary does not address state or
local tax consequences. Shareholders are urged to consult their own tax
advisers to determine the extent of the federal income tax liability they
would incur as a result of receiving a liquidation distribution, as well as
any tax consequences under any applicable state, local or foreign laws.
Vote Required
The Lindner International Fund must have at least a majority of its total
shares outstanding on the Record Date present in person or by proxy in order
to have a quorum for purposes of conducting the proposed business for that
Fund. The Lindner High-Yield Bond Fund must have at least a majority of its
total shares outstanding on the Record Date present in person or by proxy in
order to have a quorum for purposes of conducting the proposed business for
that Fund. The Funds' Board of Trustees has unanimously recommended that
shareholders of each Fund vote in favor of approval of that Fund's
Liquidation Plan. For each Fund, the affirmative vote of holders of two-
thirds (2/3) of the shares of beneficial interest outstanding on the Record
Date is required to approve the Fund's Liquidation Plan. Your vote is
important. Please vote, sign and date your proxy card and return it in the
envelope provided as soon as possible.
SHAREHOLDER PROPOSALS
The Trust is organized as a Massachusetts business trust. The Trust does
not hold annual meetings. Since the Trust does not hold regular meetings of
shareholders of the Funds, the anticipated date of the next shareholder
meeting cannot be provided. The Trust's Declaration of Trust and Bylaws
provide that special meetings of shareholders shall be called by the
Trustees upon the written request of shareholders owning at least twenty
percent of the outstanding Shares entitled to vote. Shareholders wishing to
submit proposals for inclusion in a proxy statement for a subsequent
shareholder meeting should send their written proposals to the Secretary of
the Trust, c/o Lindner Asset Management, Inc., 7711 Carondelet, Suite 700,
St. Louis, Missouri 63105, so that it is received at least 120 days before
the date of the special meeting. Mere submission of a shareholder proposal
does not guarantee inclusion of the proposal in the proxy statement or
presentation of the proposal at the meeting since such inclusion and
presentation are subject to compliance with certain federal regulations.
The Board of Trustees does not know of any matters to be presented at the
Meeting other than those set forth in this Proxy Statement.
Dated: September 15, 1999
<PAGE>
EXHIBIT A--SHAREHOLDERS OF THE FUNDS OWNING 5% OR MORE OF EACH
FUND'S OUTSTANDING SHARES AND SHARES OWNED BY ALL TRUSTEES AND
OFFICERS OF THE FUNDS AS A GROUP:
Name of Fund/
Account Name and Address # of Shares (% of Class)
- ------------------------ ------------------------
Lindner International Fund
(Investor and Institutional Shares)
The Valassis Irrevocable Trusts
u/t/a 10/14/92 f/b/o Doug T.
Valassis, D. Craig Valassis
and Debra A. Lyonnais* 11,023 (7.9%)
All Trustees and officers of the Fund
as a group (10 in number) 11,023 (7.9%)
Lindner High-Yield Bond Fund
(Investor and Institutional Shares)
Anesio B. Pinero 9,139 (7.8%)
All Trustees and officers of the Fund
as a group (10 in number) -0-
* Edward W. Elliott, Jr., Doug T. Valassis and D. Craig Valassis are Co-
Trustees of the Valassis Irrevocable Trusts f/b/o Doug T. Valassis, D. Craig
Valassis and Debra A. Lyonnais of which 3,638, 3,638, and 3,638 shares are
owned for the benefit of Douglas T. Valassis, D. Craig Valassis, and Debra
A. Lyonnais, respectively. In addition, Doug T. Valassis and his wife
Laurie jointly own 109 shares.
<PAGE>
EXHIBIT B--PLANS OF LIQUIDATION FOR THE LINDNER HIGH-YIELD BOND
FUND AND THE LINDNER INTERNATIONAL FUND
The Plan of Liquidation for the Lindner High-Yield Bond Fund shall be as
follows:
1. Promptly following receipt of the requisite approval of the
liquidation and termination of Lindner High-Yield Bond Fund by its
shareholders, the Adviser shall proceed to liquidate all of the
portfolio securities of such Fund and shall invest the proceeds from
such liquidations in short-term money market instruments until all
portfolio assets have been liquidated.
2. At the close of business on the day of the special meeting of
shareholders convened to approve the liquidation and termination of
the Lindner High-Yield Bond Fund, and provided that the requisite
approval of shareholders of such Fund is received, all further
redemptions of shares of Lindner High-Yield Bond Fund shall cease,
and the only further redemption shall occur at the time of final
payout of cash to the shareholders of such Fund at the time of
complete liquidation.
3. After providing for the payment of all expenses and liabilities
of the Lindner High-Yield Bond Fund, the remaining assets of such
Fund shall be distributed to its shareholders on a pro rata basis in
proportion to their relative ownership interests in that Fund, in
complete liquidation of their share interests in such Fund, and all
previously outstanding share interests in such Fund shall thereupon
be deemed to be canceled and retired.
4. The officers of the Trust are authorized and directed to file
all certificates, notices and documents with federal and state
authorities as shall be necessary to effectuate the complete
liquidation and termination of Lindner High-Yield Bond Fund.
5. The Board of Trustees may authorize such variations from, or
amendments to, this Plan of Liquidation as may be necessary or
appropriate to effect the complete liquidation and termination of
the Lindner High-Yield Bond Fund in accordance with the purposes to
be accomplished by this Plan.
The Plan of Liquidation for the Lindner International Fund shall be as
follows:
1. Promptly following receipt of the requisite approval of the
liquidation and termination of Lindner International Fund by its
shareholders, the Adviser shall proceed to liquidate all of the
portfolio securities of such Fund and shall invest the proceeds from
such liquidations in short-term money market instruments until all
portfolio assets have been liquidated.
2. At the close of business on the day of the special meeting of
shareholders convened to approve the liquidation and termination of
the Lindner International Fund, and provided that the requisite
approval of shareholders of such Fund is received, all further
redemptions of shares of Lindner International Fund shall cease, and
the only further redemption shall occur at the time of final payout
of cash to the shareholders of such Fund at the time of complete
liquidation.
3. After providing for the payment of all expenses and liabilities
of the Lindner International Fund, the remaining assets of such Fund
shall be distributed to its shareholders on a pro rata basis in
proportion to their relative ownership interests in that Fund, in
complete liquidation of their share interests in such Fund, and all
previously outstanding share interests in such Fund shall thereupon
be deemed to be canceled and retired.
4. The officers of the Trust are authorized and directed to file
all certificates, notices and documents with federal and state
authorities as shall be necessary to effectuate the complete
liquidation and termination of Lindner International Fund.
5. The Board of Trustees may authorize such variations from, or
amendments to, this Plan of Liquidation as may be necessary or
appropriate to effect the complete liquidation and termination of
the Lindner International Fund in accordance with the purposes to be
accomplished by this Plan.
<PAGE>
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[PROXY CARD]
VOTE THIS PROXY CARD TODAY!
LINDNER INTERNATIONAL FUND
This proxy is solicited by the Board of Trustees of Lindner Investments (the
"Trust") for use at a Special Meeting of Shareholders of the Lindner
International Fund to be held on October 15, 1999, at 9:00 a.m., Central
Time, at 7711 Carondelet, 3rd Floor, St. Louis (Clayton), Missouri 63105.
The undersigned hereby appoints Brian L. Blomquist and Kenneth E. Puzder,
and each of them, attorney and proxy for the undersigned, each with the
power of substitution and resubstitution, to attend, vote and act for the
undersigned at the Special Meeting of Shareholders of Lindner International
Fund, and at any adjournments thereof, casting votes of the Fund which the
undersigned may be entitled to vote, with all the powers which the
undersigned would possess if personally present, as follows:
For Against Abstain
----------------------
1 To approve the liquidation of the Fund. [ ] [ ] [ ]
2 To transact such other business as may properly
come before the Special Meeting or any adjournment
thereof [ ] [ ] [ ]
The undersigned hereby revokes any prior proxy to vote at such Special
Meeting, and hereby ratifies and confirms all that such attorneys and
proxies, or each of them, may lawfully do by virtue hereof. The undersigned
hereby acknowledges receipt of the Notice of Special Joint Meeting of
Shareholders and the Proxy Statement dated September 15, 1999. Please mark,
sign, date and return this proxy card promptly in the enclosed postage-paid
envelope.
- --------------------------------------
- --------------------------------------
Signature(s), (Title(s), if applicable)
DATE: , 1999
--------------------
Please sign above exactly as name(s) appear(s) hereon. Corporate or
partnership proxies should be signed in full corporate or partnership name
by an authorized officer. Each joint owner should sign personally. When
signing as a fiduciary, please give full title as such. Please return this
proxy card promptly in the enclosed postage-paid envelope. In the absence
of any specification, this proxy will be voted in favor of proposals 1 and
2.
<PAGE>
[PROXY CARD]
VOTE THIS PROXY CARD TODAY!
LINDNER HIGH-YIELD BOND FUND
This proxy is solicited by the Board of Trustees of Lindner Investments (the
"Trust") for use at a Special Meeting of Shareholders of the Lindner High-
Yield Bond Fund to be held on October 15, 1999, at 9:00 a.m., Central Time,
at 7711 Carondelet, 3rd Floor, St. Louis (Clayton), Missouri 63105.
The undersigned hereby appoints Brian L. Blomquist and Kenneth E. Puzder,
and each of them, attorney and proxy for the undersigned, each with the
power of substitution and resubstitution, to attend, vote and act for the
undersigned at the Special Meeting of Shareholders of Lindner High-Yield
Bond Fund, and at any adjournments thereof, casting votes of the Fund which
the undersigned may be entitled to vote, with all the powers which the
undersigned would possess if personally present, as follows:
For Against Abstain
1 To approve the liquidation of the Fund [ ] [ ] [ ]
2 To transact such other business as may
properly come before the Special Meeting or
any adjournment thereof [ ] [ ] [ ]
The undersigned hereby revokes any prior proxy to vote at such Special
Meeting, and hereby ratifies and confirms all that such attorneys and
proxies, or each of them, may lawfully do by virtue hereof. The undersigned
hereby acknowledges receipt of the Notice of Special Joint Meeting of
Shareholders and the Proxy Statement dated September 15, 1999. Please mark,
sign, date and return this proxy card promptly in the enclosed postage-paid
envelope.
- --------------------------------------
- --------------------------------------
Signature(s), (Title(s), if applicable)
DATE: , 1999
-----------------------
Please sign above exactly as name(s) appear(s) hereon. Corporate or
partnership proxies should be signed in full corporate or partnership name
by an authorized officer. Each joint owner should sign personally. When
signing as a fiduciary, please give full title as such. Please return this
proxy card promptly in the enclosed postage-paid envelope. In the absence
of any specification, this proxy will be voted in favor of proposals 1 and
2.
