As filed with the Securities and Exchange Commission on October 12, 1995
Registration No. 33-80784
File No. 811-8484
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]
Pre-Effective Amendment No. ____
Post-Effective Amendment No. 4
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]
Amendment No. 7
(Check appropriate box or boxes)
MENTOR INSTITUTIONAL TRUST
(Exact name of registrant as specified in charter)
P.O. Box 1357
Richmond, Virginia 23286
(Address of principal executive offices)
Registrant's Telephone Number, Including Area Code: (804) 782-3647
Paul F. Costello
President
Mentor Institutional Trust
901 East Byrd Street
Richmond, Virginia 23219
(Name and address of agent for service)
Copy to
Timothy W. Diggins, Esq.
Ropes & Gray
One International Place
Boston, MA 02110
It is proposed that this filing will become effective
(check appropriate box)
[X] immediately upon filing pursuant to paragraph (b)
[ ] on (date) pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)(1)
[ ] 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
Pursuant to the provisions of Rule 24f-2 under the Investment Company Act of
1940, the Registrant has previously elected to register an indefinite number
of shares. The $500 registration fee has previously been paid.
The Cross-Reference Sheet, Part A and Part B, and where noted Part C, of
Post-Effective Amendment No. 2 to the Registrant's Registration Statement on
Form N-1A (File No. 33-80784) previously filed on July 24, 1995, is incorporated
herein by reference.
<PAGE>
PART C. OTHER INFORMATION
Item 24. Financial Statements and Exhibits
(a) Financial Statements (Included in Parts A and B)
(b) Exhibits
(1)
(A) - Agreement and Declaration of Trust. 1
(B) - Amendment to Agreement and Declaration of Trust. 4
(2) - Bylaws. 1
(3) - Inapplicable.
(4)
(A) - Form of certificate representing shares of beneficial
interest for each of the Portfolios. 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 (Mentor Intermediate Duration
and Mentor Fixed-Income Portfolios). 1
(B) - Form of Management Contract (SNAP Fund). 5
(C) - Form of Administration Agreement. 1
(6)(A) - Form of Distribution Agreement. 2
(6)(B) - Form of Assignment of Distribution Agreement. 5
(7) - Inapplicable.
(8)
(A) - Form of Custody Agreement. 1
(B) - Form of Custody Agreement (SNAP Fund). 5
(C) - Form of Transfer Agency and Services Agreement. 3
(D) - Form of Transfer Agency and Services Agreement (SNAP Fund). 5
(9) - Inapplicable.
(10) - Opinion of counsel, including consent. 3
(11) - Consent of Independent Accountants. 6
(12) - Inapplicable.
(13) - Inapplicable.
(14) - Inapplicable.
(15) - Inapplicable.
(16) - Inapplicable.
(17) - Financial Data Schedules (Mentor Cash Management,
Intermediate Duration, and Fixed Income Portfolio). 6
1 Incorporated herein by reference to the Registrant's initial
Registration Statement on Form N-1A under the Investment Company Act of
1940 filed on April 15, 1994.
2 Incorporated herein by reference to Amendment No. 1 to the Registrant's
Registration Statement on Form N-1A filed on June 28, 1994.
3 Incorporated herein by reference to Amendment No. 3 to the
Registrant's Registration Statement on Form N-1A filed on November 18,
1994.
4 Incorporated herein by reference to Amendment No. 4 to the Registrant's
Registration Statement on Form N-1A filed on July 3, 1995.
5 Incorporated herein by reference to Amendment No. 5 to the Registrant's
Registration Statement on Form N-1A filed on July 24, 1995.
6 Filed herewith.
<PAGE>
Item 25. Persons Controlled by or Under Common Control with Registrant
None.
Item 26. Number of Record Holders of Securities
The following table shows the number of holders of record of shares of
beneficial interest of each series of shares of beneficial interest of
Mentor Institutional Trust as of October 10, 1995.
Number of Record
Series Holders
Mentor Cash Management Portfolio 49
SNAP Fund 369,024
Mentor Intermediate Duration Portfolio 11
Mentor Fixed-Income Portfolio 191
Item 27. Indemnification
The information required by this item is incorporated herein by
reference from the Registrant's initial Registration Statement on Form N-1A
under the Investment Company Act of 1940 (File No. 811-8484).
Item 28. Business and Other Connections of Investment Adviser
(a) The following is additional information with respect to the
directors and officers of Commonwealth Investment Counsel, Inc.:
<PAGE>
Other Substantial
Business, Profession,
Position with Vocation or Employment
Name Investment Adviser during the past two fiscal years
John G. Davenport President; None
Director
William F. Senior Vice None
Johnston, III President
P. Michael Jones Senior Vice None
President
R. Preston Nuttall Senior Vice Formerly, Senior Vice
President President, Capitoline
Investment Services, 919
East Main Street,
Richmond, VA 23219
Mary A. Beeghly Vice President None
John J. Kelly Vice President None
William H. West, Vice President Vice President, Mentor
Jr. Income Fund, Inc., 901
East Byrd Street,
Richmond, VA 23219;
formerly, Vice President
of Ryland Capital
Management, Inc., 11000
Broken Land Parkway,
Columbia, MD 21044;
formerly, Vice President,
RAC Income Fund, Inc.,
11000 Broken Land
Parkway, Columbia, MD
21044
Steven C. Henderson Vice President None
Stephen R. McClelland Associate Vice Formerly, Associate Vice
President President, Mentor Investment
Group, Inc., 901 East
Byrd Street, Richmond, VA
23219
Thomas Lee Souders Treasurer Managing Director and
Chief Financial Officer,
Wheat, First Securities,
Inc., 901 East Byrd
Street, Richmond, VA
23219; Trustee, Mentor
Series Trust, 901 East
Byrd Street, Richmond, VA
23219; formerly, Manager
of Internal Audit,
Heilig-Myers; formerly,
Manager, Peat Marwick &
Mitchell & Company
<PAGE>
John Michael Ivan Secretary Managing Director, Senior
Vice President and
Assistant General
Counsel, Wheat, First
Securities, Inc., 901
East Byrd Street,
Richmond, VA 23219;
Managing Director and
Assistant Secretary,
Wheat First Butcher
Singer, Inc. (formerly
WFS Financial
Corporation), 901 East
Byrd Street, Richmond, VA
23219; Clerk, Cash
Resource Trust, 901 East
Byrd Street, Richmond, VA
23219; Secretary, The
Mentor Funds, 901 East
Byrd Street, Richmond, VA
23219
(b) The following is additional information with respect to Mentor
Perpetual Advisors, L.L.C.:
Other Substantial
Business, Profession,
Position with Vocation or Employment
Name Investment Adviser during the past two fiscal years
Scott A. McGlashan President Director, Perpetual
Portfolio Management
Limited
Martyn Arbib Director Chairman, Perpetual
Portfolio Management
Limited
Roger C. Cornick Director Deputy Chairman -
Marketing, Perpetual
Portfolio Management
Limited
Paul F. Costello Director Managing Director, Mentor
Investment Group, Inc.
and Managing Director,
Wheat First Butcher
Singer, Inc.
<PAGE>
Daniel J. Ludeman Director Chairman and Chief
Executive Officer, Mentor
Investment Group;
Managing Director, Wheat
First Securities, Inc.;
Managing Director, Wheat
First Butcher Singer,
Inc.
David S. Mossop Director Director, Perpetual
Portfolio Management
Limited
Richard J. Rossi Director Managing Director, Mentor
Investment Group, Inc.
Item 29. Principal Underwriters
(a) Mentor Distributors, Inc. currently is acting as principal
underwriter for The Mentor Funds and Cash Resource Trust.
(b) The following is information concerning officers and directors of
Mentor Distributors, Inc.
NAME AND PRINCIPAL POSITION AND OFFICES POSITIONS AND
BUSINESS ADDRESS WITH UNDERWRITERS OFFICES WITH REGISTRANT
Peter J. Quinn, Jr. President and --
901 East Byrd Street Director, Mentor
Richmond, VA 23219 Distributors, Inc.
Paul F. Costello Senior Vice President, President
901 East Byrd Street Mentor Distributors,
Richmond, VA 23219 Inc.
Thomas Lee Souders Treasurer, Mentor --
901 East Byrd Street Distributors, Inc.
Richmond, VA 23219
John Mark Harris Secretary, Mentor --
901 East Byrd Street Distributors, Inc.
Richmond, VA 23219
John Michael Ivan Assistant Secretary, Secretary
901 East Byrd Street Mentor Distributors,
Richmond, VA 23219 Inc.
(c) Registrant has no principal underwriter who is not an affiliate
of the Registrant.
<PAGE>
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 Secretary, John M. Ivan, Registrant's custodians, Investors
Fiduciary Trust Company ("IFTC") (all Portfolios other than SNAP Fund), and
Central Fidelity National Bank (SNAP Fund only), and Registrant's transfer
agents, The Shareholder Services Group, Inc. ("TSSG") (all Portfolios other
than SNAP Fund), and Central Fidelity National Bank (SNAP Fund only). The
address of the Secretary is 901 East Byrd Street, Richmond, Virginia,
23219. The address of TSSG is P.O. Box 9653, Providence, Rhode Island
02940-9653. The address of IFTC is 127 West 10th Street, Kansas City,
Missouri, 64105. The address of Central Fidelity National Bank is 1021
East Cary Street, P.O. Box 27602, Richmond, Virginia 23261.
Item 31. Management Services
None.
Item 32. Undertakings
(a) 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 are without charge.
(b) Inapplicable.
(c) Inapplicable.
(d) The undersigned Registrant hereby undertakes to call a meeting of
shareholders for the purpose of voting on the removal of a trustee
or trustees when requested in writing to do so by the holders of at
least 10% of the Registrant's outstanding voting securities and in
connection with such meeting to comply with the provisions of
Section 16(c) of the Investment Company Act of 1940 relating to
shareholder communications.
NOTICE
A copy of the Agreement and Declaration of Trust of Mentor
Institutional 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 Registration Statement pursuant to
Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment
to the Registration Statement to be signed on behalf of the undersigned,
thereunto duly authorized, in the City of Richmond, and the Commonwealth of
Virginia on this 10th day of October, 1995.
MENTOR INSTITUTIONAL TRUST
By: /s/ Paul F. Costello
Paul F. Costello
Title: President
Pursuant to the requirements of the Securities Act of 1933,
this Amendment to the Registration Statement has been signed below by the
following persons in the capacities indicated on the dates indicated.
SIGNATURE TITLE DATE
Arnold H. Dreyfuss Trustee
Trustee
Thomas F. Keller
* Trustee October 10, 1995
Daniel J. Ludeman
* Trustee October 10, 1995
Louis W. Moelchert, Jr.
<PAGE>
* Trustee October 10, 1995
Stanley F. Pauley
* Trustee October 10, 1995
Troy A. Peery, Jr.
/s/ Paul F. Costello President October 10, 1995
Paul F. Costello (Principal
Executive Officer)
/s/ Terry L. Perkins Treasurer October 10, 1995
Terry L. Perkins (Principal
Financial and
Accounting Officer)
*By /s/ Paul F. Costello October 10, 1995
Paul F. Costello
Attorney-in-Fact
<PAGE>
Exhibit Index
11 Consent of Independent Accountants
27a Financial Data Schedule - Mentor Cash Management Portfolio.
27b Financial Data Schedule - Mentor Intermediate Duration Portfolio
27c Financial Data Schedule - Mentor Fixed-Income Portfolio
CONSENT OF INDEPENDENT ACCOUNTANT
The Trustees
Mentor Institutional Trust (formerly IMG Institutional Trust)
We consent to the use of our report dated November 8, 1994, included
herein and to the reference to our firm under the caption "INDEPENDENT
ACCOUNTANTS" in the Statement of Additional Information.
/s/ KPMG Part Marwick LLP
KPMG Part Marwick LLP
September 21, 1995
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> Mentor Cash Management Portfolio
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 48,156,266
<INVESTMENTS-AT-VALUE> 48,156,266
<RECEIVABLES> 44,596
<ASSETS-OTHER> 95,500
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 48,296,362
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 341,617
<TOTAL-LIABILITIES> 341,617
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 47,954,745
<SHARES-COMMON-STOCK> 47,954,745
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 47,954,745
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 740,989
<OTHER-INCOME> 0
<EXPENSES-NET> 4,871
<NET-INVESTMENT-INCOME> 736,118
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 736,118
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 736,118
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 74,118,432
<NUMBER-OF-SHARES-REDEEMED> (26,661,472)
<SHARES-REINVESTED> 497,785
<NET-CHANGE-IN-ASSETS> 47,954,745
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,871
<AVERAGE-NET-ASSETS> 30,474,711
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> Mentor Intermediate Duration Portfolio
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 10,892,472
<INVESTMENTS-AT-VALUE> 11,002,378
<RECEIVABLES> 197,093
<ASSETS-OTHER> 42,237
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11,241,708
<PAYABLE-FOR-SECURITIES> 285,323
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 45,877
<TOTAL-LIABILITIES> 331,200
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,573,788
<SHARES-COMMON-STOCK> 845,612
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 65,314
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 161,500
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 109,906
<NET-ASSETS> 10,910,508
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 275,448
<OTHER-INCOME> 0
<EXPENSES-NET> 1,821
<NET-INVESTMENT-INCOME> 273,627
<REALIZED-GAINS-CURRENT> 161,500
<APPREC-INCREASE-CURRENT> 109,906
<NET-CHANGE-FROM-OPS> 545,033
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 208,312
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 831,756
<NUMBER-OF-SHARES-REDEEMED> (2,488)
<SHARES-REINVESTED> 16,344
<NET-CHANGE-IN-ASSETS> 10,910,509
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,871
<AVERAGE-NET-ASSETS> 10,550,744
<PER-SHARE-NAV-BEGIN> 12.50
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.32
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.90
<EXPENSE-RATIO> 0.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> Mentor Fixed-Income Portfolio
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 26,921,624
<INVESTMENTS-AT-VALUE> 27,187,878
<RECEIVABLES> 548,445
<ASSETS-OTHER> 68,904
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,802,227
<PAYABLE-FOR-SECURITIES> 752,217
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 98,495
<TOTAL-LIABILITIES> 850,712
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,916,845
<SHARES-COMMON-STOCK> 2,075,636
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 164,675
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 603,741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 266,254
<NET-ASSETS> 26,951,515
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 778,881
<OTHER-INCOME> 0
<EXPENSES-NET> 5,146
<NET-INVESTMENT-INCOME> 773,735
<REALIZED-GAINS-CURRENT> 603,741
<APPREC-INCREASE-CURRENT> 286,254
<NET-CHANGE-FROM-OPS> 869,995
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 609,060
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,331,660
<NUMBER-OF-SHARES-REDEEMED> (303,663)
<SHARES-REINVESTED> 47,639
<NET-CHANGE-IN-ASSETS> 26,951,515
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,146
<AVERAGE-NET-ASSETS> 26,215,074
<PER-SHARE-NAV-BEGIN> 12.50
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.40
<PER-SHARE-DIVIDEND> (0.30)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.98
<EXPENSE-RATIO> 0.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
