SEC Info - Cash Equivalent Fund - ‘NSAR-A’ for 1/31/03

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Cash Equivalent Fund – ‘NSAR-A’ for 1/31/03

On: Monday, 3/31/03, at 1:34pm ET · Effective: 3/31/03 · For: 1/31/03 · Accession #: 88053-3-414 · File #: 811-02899

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/31/03  Cash Equivalent Fund              NSAR-A      1/31/03    5:29K                                    Scudder Int’l Fund Inc.

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-A      Semi-Annual Report by an Investment Company           21     85K 
 3: EX-99.77C VOTES  Matters Submitted to a Vote of Security           1      4K 
                Holders                                                          
 2: EX-99.77Q3  Certifications                                         4     11K 
 5: EX-99.77Q3.14  Miscellaneous Exhibit                               1      7K 
 4: EX-99.77Q3.A  Miscellaneous Exhibit                                1      4K

‘NSAR-A’ — Semi-Annual Report by an Investment Company

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Semi-Annual Report by an Open-End Investment Company

Report
Registrant: Cash Equivalent Fund — List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended: 1/31/03

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? No
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 310030
SEC File #: 811-02899

Telephone #: 617-295-2588
2. Address: 222 South Riverside Plaza
Chicago, IL 60606
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 3
The number of separate Funds/Series (portfolios) reported here: 3...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 2: Government Securities Portfolio [ renamed
Government & Agency Securities Portfolio ] — S#11257
↓ Series 1: Money Market Portfolio — S#11258
↓ Series 3: Tax-Exempt Portfolio — S#11259
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 176

The Identification Code of the family for Form N-SAR Filings: DEUTSCHEAM
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? Yes

EX-99.77C: Matters Submitted to a Vote of Security Holders? Yes

EX-99.77Q1: Other Disclosure? Yes

EX-99.77Q3: Other Info? Yes
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 3 Funds/Series Reported Here

Information Common to All Funds/Series
All: Investment Adviser
8.1 Name: Deutsche Investment Management Americas Inc.
Role: Adviser
SEC File #: 801-00252
Location: New York, NY
All: Administrator
10.1 Name: Scudder Fund Accounting Corp.
Location: Boston, MA
All: Principal Underwriter
11.1 Name: Scudder Distributors, Inc.
SEC File #: 008-47765
Location: Chicago, IL
All: Shareholder Servicing/Transfer Agent
12.1 Name: Scudder Investments Service Co.
SEC File #: 084-01713
Location: Kansas City, MO
12.2 Name: State Street Bank & Trust Co.
SEC File #: 085-11329
Location: Boston, MA
All: Independent Public Accountant
13.1 Name: Ernst & Young LLP
Location: Boston, MA
All: Affiliated Broker/Dealer
14.1 Name: Scudder Investor Services, Inc.
SEC File #: 008-00298
14.2 Name: Scudder Distributors Inc.
SEC File #: 008-47765
14.3 Name: Scudder Financial Services Inc.
SEC File #: 008-49521
14.4 Name: Ameritrade
SEC File #: 008-16335
14.5 Name: Deutsche Securities Australia Inc.
SEC File #: 008-31670
14.6 Name: BT Brokerage Corp.
SEC File #: 008-34120
14.7 Name: Deutsche Banc Alex. Brown Inc.
SEC File #: 008-35766
14.8 Name: Tradeweb LLC
SEC File #: 008-49994
14.9 Name: Marketaxess Corp.
SEC File #: 008-50727
14.10 Name: Brokertec USA LLC
SEC File #: 008-51803
14.11 Name: Creditex
SEC File #: 008-51918
14.12 Name: Adirondacktrading Partners LLC
SEC File #: 008-52384
14.13 Name: Bondbook Holdings, LLC
SEC File #: 008-52679
14.14 Name: NDB Capital Markets, LP
SEC File #: 008-13967
14.15 Name: Deutsche Bank Securities Inc.
SEC File #: 008-17822
14.16 Name: Alfa Menkul Degerler AS
14.17 Name: Bankers Trust A.S.
14.18 Name: Bankers Trust Argentina S.A.
14.19 Name: Bankers Trust Caribe Capital Markets, Inc.
14.20 Name: Bankers Trust International plc
14.21 Name: Bankers Trust Investments plc
14.22 Name: Bankers Trust Menkul Degerler AS
14.23 Name: Bankers Trust Poland Sp.Z.O.O.
14.24 Name: Bankers Trust S.A. Agente Del Mercado Abierto
14.25 Name: Bankers Trust Securities (Pacific) Ltd.
14.26 Name: Bankers Trustee Co. Ltd.
14.27 Name: Benchmark Securities Management Ltd.
14.28 Name: Bender Menkul Degerler A.S.
14.29 Name: BT (Far East) Ltd.
14.30 Name: BT Asia Securities Ltd.
14.31 Name: BT Brokerage (Philippines) Inc.
14.32 Name: BT Brokerage & Associates PTE Ltd.
14.33 Name: BT Financial Trading
14.34 Name: BT France S.A.
14.35 Name: BT Futures (Singapore) Ltd.
14.36 Name: BT Notes Ltd.
14.37 Name: BT Securities (Europe) Ltd.
14.38 Name: DB (Russia) Ltd.
14.39 Name: DB Arbitrage Ltd.
14.40 Name: DB Broker GmbH
14.41 Name: DB Corretora – Sociedade Corretora De Valores
14.42 Name: DB Equity Ltd.
14.43 Name: DB Forex Corp.
14.44 Name: DB Investment Resoureces (US) Corp.
14.45 Name: Deutsche Asset Management (Australia Ltd.)
14.46 Name: Deutsche Asset Management (International) Ltd.
14.47 Name: Deutsche Asset Management Investment Services
14.48 Name: Deutsche Asset Management Life & Pensions Ltd.
14.49 Name: Deutsche Asset Management Ltd.
14.50 Name: Deutsche Bank (Cayman) Ltd.
14.51 Name: Deutsche Bank AG
14.52 Name: Deutsche Bank AG (London Branch)
14.53 Name: Deutsche Bank AG (Sydney Branch)
14.54 Name: Deutsche Bank AG Tokyo Branch
14.55 Name: Deutsche Bank AG, Hong Kong Branch
14.56 Name: Deutsche Bank Canada
14.57 Name: Deutsche Bank Corretora de Valores SA
14.58 Name: Deutsche Bank Futures Inc.
14.59 Name: Deutsche Bank International Ltd.
14.60 Name: Deutsche Bank SA – Banco Alemao
14.61 Name: Deutsche Bank Securities (Pty) Ltd.
14.62 Name: Deutsche Bank Societa Di Intermediazione
14.63 Name: Deutsche Bank Trust Co. Americas
14.64 Name: Deutsche Capital Markets Australia Ltd.
14.65 Name: Deutsche Corporate Finance New Zealand Ltd.
14.66 Name: Deutsche Finance New Zealand Ltd.
14.67 Name: Deutsche Financial Planning Ltd.
14.68 Name: Deutsche Funds Management Ltd.
14.69 Name: Deutsche Futures Australia Ltd.
14.70 Name: Deutsche Futures Hong Kong Ltd.
14.71 Name: Deutsche Futures London Ltd.
14.72 Name: Deutsche Futures New Zealand Ltd.
14.73 Name: Deutsche Futures Singapore
14.74 Name: Deutsche Investment Trust Managers Ltd.
14.75 Name: Deutsche Investments Funds Ltd.
14.76 Name: Deutsche Management New Zealand Ltd.
14.77 Name: Deutsche New Zealand Ltd.
14.78 Name: Deutsche Property Asset Management Ltd.
14.79 Name: Deutsche Regis Partners Inc.
14.80 Name: Deutsche Securities (India) Private Ltd.
14.81 Name: Deutsche Securities Asia Ltd.
14.82 Name: Deutsche Securities Asia Ltd. Hong Kong
14.83 Name: Deutsche Securities Asia Ltd. Singapore
14.84 Name: Deutsche Securities Asia Ltd. Taipei
14.85 Name: Deutsche Securities Corredores De Bolsa Ltda
14.86 Name: Deutsche Securities India PVT Ltd.
14.87 Name: Deutsche Securities Korea Co.
14.88 Name: Deutsche Securities Ltd. Tokyo Branch
14.89 Name: Deutsche Securities New Zealand Ltd.
14.90 Name: Deutsche Securities, Sociedad De Valores Y
14.91 Name: Deutsche Securitisation Australia Pty Ltd.
14.92 Name: Deutsche Structured Finance Australia Ltd.
14.93 Name: Deutsche Unit Trust Managers Ltd.
14.94 Name: Didier Philippe S.A. (Dormant)
14.95 Name: DMG & Partners Securities PTE Ltd.
All: Custodian
15.1 Name: State Street Bank & Trust Co.
Role: Custodian
Location: Boston, MA

Type of custody: Section 17(f)(1) — Bank
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: Goldman, Sachs & Co.
IRS #: 13-5108880
Registrant’s purchases ($000s): 9,117,364
Registrant’s sales ($000s): 2,406
22.2 Entity: J.P. Morgan Chase
IRS #: 13-3224016
Registrant’s purchases ($000s): 7,601,627
Registrant’s sales ($000s): 35,190
22.3 Entity: Credit Suisse First Boston
IRS #: 13-5659485
Registrant’s purchases ($000s): 4,606,783
22.4 Entity: Lehman Brothers, Inc.
IRS #: 13-2518466
Registrant’s purchases ($000s): 2,594,296
Registrant’s sales ($000s): 17,971
22.5 Entity: Morgan Stanley Dean Witter & Co.
IRS #: 13-2655998
Registrant’s purchases ($000s): 1,676,864
Registrant’s sales ($000s): 56,194
22.6 Entity: State Street Bank & Trust
IRS #: 04-1867445
Registrant’s purchases ($000s): 1,316,071
22.7 Entity: Salomon Smith Barney
IRS #: 13-3082694
Registrant’s purchases ($000s): 1,100,225
Registrant’s sales ($000s): 15,056
22.8 Entity: Merrill Lynch
IRS #: 13-5674085
Registrant’s purchases ($000s): 847,851
Registrant’s sales ($000s): 45,408
22.9 Entity: Bank of America
IRS #: 36-0947896
Registrant’s purchases ($000s): 67,712
Registrant’s sales ($000s): 18,745
22.10 Entity: Williams Capital Group LP
IRS #: 13-3747879
Registrant’s purchases ($000s): 74,867
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 29,426,706
Aggregate sales ($000s): 243,221
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... No
Receipt of investment research and statistical info .................... No
Receipt of quotations for portfolio valuations ......................... No
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ No
Broker or Dealer which is an affiliated person ......................... No
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... No
To the Registrant .................................................. No
Other .................................................................. No
All: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? Yes
All: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
All: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? Yes
48. Fee (single rate or step rates) applied to the Registrant’s/Series’
assets based on the advisory contract:
Single-fee rate: 0.0%
Step-fee rates:
For 1st $000s: 500,000
Annual rate: 0.22%
Of next $000s: 500,000
Annual rate: 0.2%
Of next $000s: 1,000,000
Annual rate: 0.175%
Of next $000s: 1,000,000
Annual rate: 0.16%
& Above $000s: 3,000,000
Annual rate: 0.15%
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? No
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... No
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
All: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $1,000
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
Series 1 ↑Information Common to All Funds/Series ↑List of 3 Funds/Series
7. Name: Money Market Portfolio — S#11258

Is this the final Form N-SAR filed for this Fund/Series? No
S 1: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Goldman Sachs Group, Inc.
IRS #: 13-5108880
Type of security owned: Debt
Value of securities owned at period end ($000s): 25,000
S 1: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 227,463
Reinvestment of dividends and distributions ................ 757
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 221,188
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 144,532
Reinvestment of dividends and distributions ................ 718
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 185,643
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 169,205
Reinvestment of dividends and distributions ................ 780
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 192,249
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 161,275
Reinvestment of dividends and distributions ................ 579
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 176,947
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 220,271
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 234,298
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 198,306
Reinvestment of dividends and distributions ................ 981
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 223,824

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,121,052
Reinvestment of dividends and distributions ................ 3,815
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,234,149

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 1: Payment Plan for the Distribution of Fund Shares
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 1,332
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 1: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? Yes
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 1: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 12.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 27.9
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 60.1
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 0.0
All other ................................... 0.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 46
Years: 0.0
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
S 1: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? No –
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? No –
Loaning portfolio securities? No –
Borrowing of money? Yes to both
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? No –
S 1: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 0
Sales ($000s): 0

Monthly average Value of portfolio ($000s): 0

Percent turnover (lesser of Purchases or Sales, divided by Value): 0%
S 1: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 6,253
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 720
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 542
Custodian fees ................................................... 31
Postage .......................................................... –
Printing expenses ................................................ 118
Directors’ fees .................................................. 19
Registration fees ................................................ 22
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 24
Legal fees ....................................................... 9
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 1,332
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 29
Total expenses ................................................... 2,846

Expense reimbursements ($000s): 0

Net investment income ($000s): 3,407

Realized capital gains ($000s): 6
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 3,797

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0050

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 1: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ 75,153
Short-term debt securities, other than repurchase agreements ..... 551,492
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. –
Other receivables ................................................ 11,710
All other assets ................................................. 14
Total assets ..................................................... 638,369

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... –
Amounts owed to affiliated persons ............................... 507
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 9,901

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 627,961

Number of shares outstanding (000s): 627,523

Net Asset Value (NAV) per share (to nearest cent): $1.00
Mark-to-market NAV per share: $1.0012

Total number of shareholder accounts: 7,586

Total value of assets in segregated accounts ($000s): 0
75. Daily average net assets during the period ($000s): 696,038
Series 2 ↑Information Common to All Funds/Series ↑List of 3 Funds/Series
7. Name: Government Securities Portfolio [ renamed
Government & Agency Securities Portfolio ] — S#11257

Is this the final Form N-SAR filed for this Fund/Series? No
S 2: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 2: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 183,162
Reinvestment of dividends and distributions ................ 400
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 181,278
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 138,200
Reinvestment of dividends and distributions ................ 400
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 148,205
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 169,762
Reinvestment of dividends and distributions ................ 452
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 154,548
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 151,444
Reinvestment of dividends and distributions ................ 319
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 170,425
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 232,197
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 231,496
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 177,859
Reinvestment of dividends and distributions ................ 529
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 198,691

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,052,624
Reinvestment of dividends and distributions ................ 2,100
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,084,643

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 2: Payment Plan for the Distribution of Fund Shares
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 888
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 2: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? Yes
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 2: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 53.2
Repurchase agreements ....................... 46.8
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
S 2: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? No –
Investments in securities of foreign issuers? No –
Currency exchange transactions? No –
Loaning portfolio securities? No –
Borrowing of money? No –
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? No –
S 2: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 0
Sales ($000s): 0

Monthly average Value of portfolio ($000s): 0

Percent turnover (lesser of Purchases or Sales, divided by Value): 0%
S 2: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 3,921
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 480
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 361
Custodian fees ................................................... 29
Postage .......................................................... –
Printing expenses ................................................ 92
Directors’ fees .................................................. 14
Registration fees ................................................ 10
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 16
Legal fees ....................................................... 4
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 888
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 11
Total expenses ................................................... 1,905

Expense reimbursements ($000s): 1

Net investment income ($000s): 2,017

Realized capital gains ($000s): 0
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 2,096

Dividends from net investment income: $0.0050

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 2: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 1
Repurchase agreements ............................................ 204,733
Short-term debt securities, other than repurchase agreements ..... 232,759
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. –
Other receivables ................................................ 20,146
All other assets ................................................. 9
Total assets ..................................................... 457,648

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 5,000
Amounts owed to affiliated persons ............................... 440
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 19,836

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 432,372

Number of shares outstanding (000s): 432,280

Net Asset Value (NAV) per share (to nearest cent): $1.00
Mark-to-market NAV per share: $1.0004

Total number of shareholder accounts: 2,199

Total value of assets in segregated accounts ($000s): 0
75. Daily average net assets during the period ($000s): 463,933
Series 3 ↑Information Common to All Funds/Series ↑List of 3 Funds/Series
7. Name: Tax-Exempt Portfolio — S#11259

Is this the final Form N-SAR filed for this Fund/Series? No
S 3: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 3: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 59,400
Reinvestment of dividends and distributions ................ 157
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 84,066
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 68,700
Reinvestment of dividends and distributions ................ 166
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 82,881
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 71,390
Reinvestment of dividends and distributions ................ 203
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 50,812
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 84,088
Reinvestment of dividends and distributions ................ 176
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 48,517
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 84,872
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 102,987
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 73,993
Reinvestment of dividends and distributions ................ 264
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 85,502

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 442,443
Reinvestment of dividends and distributions ................ 966
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 454,765

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 3: Payment Plan for the Distribution of Fund Shares
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 377
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 3: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 3: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 100.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 32
Years: 0.0
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
S 3: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes No
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? No –
Investments in securities of foreign issuers? No –
Currency exchange transactions? No –
Loaning portfolio securities? No –
Borrowing of money? No –
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? No –
S 3: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 0
Sales ($000s): 0

Monthly average Value of portfolio ($000s): 0

Percent turnover (lesser of Purchases or Sales, divided by Value): 0%
S 3: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 1,669
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 251
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 37
Custodian fees ................................................... 9
Postage .......................................................... –
Printing expenses ................................................ 18
Directors’ fees .................................................. 13
Registration fees ................................................ 19
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 13
Legal fees ....................................................... 2
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 377
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 2
Total expenses ................................................... 741

Expense reimbursements ($000s): 0

Net investment income ($000s): 928

Realized capital gains ($000s): 9
Realized capital losses ($000s): 8

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 978

Dividends from net investment income: $0.0040

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 3: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 222,847
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... 200
Receivables from affiliated persons .............................. –
Other receivables ................................................ 2,163
All other assets ................................................. 4
Total assets ..................................................... 225,214

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... –
Amounts owed to affiliated persons ............................... 126
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 1,710

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 223,378

Number of shares outstanding (000s): 223,336

Net Asset Value (NAV) per share (to nearest cent): $1.00
Mark-to-market NAV per share: $1.0004

Total number of shareholder accounts: 2,659

Total value of assets in segregated accounts ($000s): 0
75. Daily average net assets during the period ($000s): 226,660
Signature ↑Top of Form N-SAR
/s/ John Millette
Name: John Millette
Title: Secretary

↑Top

Filing Submission 0000088053-03-000414 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Cash Equivalent Fund – ‘NSAR-A’ for 1/31/03

On: Monday, 3/31/03, at 1:34pm ET · Effective: 3/31/03 · For: 1/31/03 · Accession #: 88053-3-414 · File #: 811-02899

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Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

‘NSAR-A’ — Semi-Annual Report by an Investment Company

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents