|
| Report |
| | |
| | | Registrant: Vanguard New York Tax-Free Funds — List all N-SARs |
| | | Annual Report for the 2nd-half period ended at fiscal year end: 11/30/08 |
| | | 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: 788599 |
| | | SEC File #: 811-04570 |
| | | Telephone #: 610-669-1000 |
|
| 2. | | Address: 100 Vanguard Boulevard |
| | | Malvern, PA 19355 |
|
| 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 |
|
| |
| | | |
| 7. | | Is the Registrant a Funds/Series (multiple portfolios) company? Yes |
| | | The number of separate Funds/Series (portfolios) at period end: 2 |
| | | The number of separate Funds/Series (portfolios) reported here: 2... |
| | |
|
↓ | Series 1: Vanguard New York Long-Term Tax-Exempt Fund — S#2905 ⇒ VNYUX & VNYTX |
↓ | Series 2: Vanguard NY Tax-Exempt Money Market Fund [ now Vanguard New York Municipal Money Market Fund ] — S#2906 ⇒ VYFXX |
|
| 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: 156 |
| | | The Identification Code of the family for Form N-SAR Filings: VANGUARDGR |
|
| 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-99.77B: Accountant’s Report re: Internal Controls? Yes |
| | | EX-99.77I: Terms of New or Amended Securities? 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 2 Funds/Series Reported Here |
| | | Information Common to All Funds/Series |
|
All: | Investment Adviser |
| | |
| 8.1 | | Name: The Vanguard Group, Inc. |
| | | Role: Adviser |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
|
All: | Administrator |
| | |
| 10.1 | | Name: The Vanguard Group, Inc. |
| | | SEC File #: 801-11953 |
| | | Location: Malvern, PA |
|
All: | Principal Underwriter |
| | |
| 11.1 | | Name: Vanguard Marketing Corp. |
| | | SEC File #: 008-21570 |
| | | Location: Malvern, PA |
|
All: | Shareholder Servicing/Transfer Agent |
| | |
| 12.1 | | Name: The Vanguard Group, Inc. |
| | | SEC File #: 084-00772 |
| | | Location: Malvern, PA |
|
All: | Independent Public Accountant |
| | |
| 13.1 | | Name: Pricewaterhousecoopers LLP |
| | | Location: Philadelphia, PA |
|
All: | Affiliated Broker/Dealer |
| | |
| 14.1 | | Name: Vanguard Marketing Corp. |
| | | SEC File #: 008-21570 |
|
All: | Custodian |
| | |
| 15.1 | | Name: U.S. Bank NA |
| | | Role: Custodian |
| | | Location: Philadelphia, PA |
| | | 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: | Brokerage Commissions Paid on Portfolio Transactions |
| | |
| 20. | | The brokers who received the largest amount of gross brokerage commissions during the period: |
| 20.1 | | Broker: Lehman Brothers Inc. |
| | | IRS #: 13-2518466 |
| | | Commissions paid ($000s): 49 |
|
| 20.2 | | Broker: J.P. Morgan Securities Inc. |
| | | IRS #: 13-3224016 |
| | | Commissions paid ($000s): 13 |
|
| 21. | | Total brokerage commissions paid by the Registrant during the period: Aggregate paid ($000s): 62 |
|
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: Morgan Stanley |
| | | IRS #: 13-2655998 |
| | | Registrant’s purchases ($000s): 1,327,374 |
| | | Registrant’s sales ($000s): 855,329 |
|
| 22.2 | | Entity: Citigroup Global Markets Inc. |
| | | IRS #: 13-2919773 |
| | | Registrant’s purchases ($000s): 1,109,809 |
| | | Registrant’s sales ($000s): 792,434 |
|
| 22.3 | | Entity: J.P. Morgan Securities Inc. |
| | | IRS #: 13-3224016 |
| | | Registrant’s purchases ($000s): 1,043,142 |
| | | Registrant’s sales ($000s): 680,617 |
|
| 22.4 | | Entity: Goldman, Sachs & Co. |
| | | IRS #: 13-5108880 |
| | | Registrant’s purchases ($000s): 955,669 |
| | | Registrant’s sales ($000s): 399,605 |
|
| 22.5 | | Entity: Wachovia Securities LLC |
| | | IRS #: 54-0796506 |
| | | Registrant’s purchases ($000s): 464,050 |
| | | Registrant’s sales ($000s): 401,538 |
|
| 22.6 | | Entity: Banc of America Securities LLC |
| | | IRS #: 56-2058405 |
| | | Registrant’s purchases ($000s): 425,068 |
| | | Registrant’s sales ($000s): 429,877 |
|
| 22.7 | | Entity: Vanguard Intermediate-Term Tax Exempt Fund |
| | | IRS #: 23-2471389 |
| | | Registrant’s purchases ($000s): 348,928 |
| | | Registrant’s sales ($000s): 471,947 |
|
| 22.8 | | Entity: Lehman Brothers Inc. |
| | | IRS #: 13-2518466 |
| | | Registrant’s purchases ($000s): 478,952 |
| | | Registrant’s sales ($000s): 294,092 |
|
| 22.9 | | Entity: Vanguard NY Long-Term Tax-Exempt Fund |
| | | IRS #: 23-2388559 |
| | | Registrant’s purchases ($000s): 386,147 |
| | | Registrant’s sales ($000s): 348,230 |
|
| 22.10 | | Entity: Vanguard NY Tax-Exempt Money Market Fund |
| | | IRS #: 23-2913069 |
| | | Registrant’s purchases ($000s): 342,330 |
| | | Registrant’s sales ($000s): 386,147 |
|
| 23. | | Total purchase/sale transactions by the Registrant during the period: Aggregate purchases ($000s): 10,002,360 |
| | | Aggregate sales ($000s): 7,373,288 |
|
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 .................... Yes |
| | | 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 .................................................. Yes |
| | | 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? No |
|
All: | Advisory Fee |
| | |
| 45. | | Did the Registrant/Series have an advisory contract during the period? No |
|
All: | Classification and Asset Allocation |
| | |
| 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 |
|
All: | Fidelity Bond in Effect at Fiscal Year End |
| | |
| 80. | | Insurer: ICI Mutual Insurance Co. |
| | | Aggregate face amount of coverage for the Registrant/Series on all bonds on which it is named as an insured ($000s): 400,000 |
|
| 81. | | Is the bond part of a joint fidelity bond(s) shared with other investment companies or other entities? Yes |
| | | How many other investment companies or other entities are covered by the bond (counting each Fund/Series as a separate investment company): 205 |
|
| 82. | | Does the mandatory coverage of the fidelity bond have a deductible? No |
|
| 83. | | Were any claims with respect to this Registrant/Series filed under the bond during the period? No |
|
| 84. | | Were any losses incurred with respect to this Registrant/Series that could have been filed as a claim under the fidelity bond but were not? No |
|
| 85. | | Are the Registrant’s/Series’ Officers and Directors covered as Officers and Directors of the Registrant/Series under any errors and omissions insurance policy owned by the Registrant/Series or anyone else? Yes |
| | | Were any claims filed under such policy during the period with respect to the Registrant/Series? No |
|
Series 1 | ↑Information Common to All Funds/Series ↑List of 2 Funds/Series |
|
| 7. | | Name: Vanguard New York Long-Term Tax-Exempt Fund — S#2905 ⇒ VNYUX & VNYTX |
| | | 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? No |
|
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) ............................ | 67,210 |
|
| | | Reinvestment of dividends and distributions ................ | 7,612 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 53,048 |
|
| | | 2nd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 70,949 |
|
| | | Reinvestment of dividends and distributions ................ | 7,871 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 53,954 |
|
| | | 3rd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 63,342 |
|
| | | Reinvestment of dividends and distributions ................ | 7,945 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 36,779 |
|
| | | 4th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 81,768 |
|
| | | Reinvestment of dividends and distributions ................ | 7,741 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 117,483 |
|
| | | 5th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 87,318 |
|
| | | Reinvestment of dividends and distributions ................ | 7,576 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 170,684 |
|
| | | 6th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 53,724 |
|
| | | Reinvestment of dividends and distributions ................ | 7,238 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 60,974 |
|
| | | Total of all months: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 424,311 |
|
| | | Reinvestment of dividends and distributions ................ | 45,983 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 492,922 |
|
| | | 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 ............................................... | – |
|
| | | 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): 0 |
|
| 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? 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 1: | 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? No |
| | | Was the Registrant/Series a diversified investment company at the end of the period? No |
|
| 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: $3,000 |
|
| 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 .............. 3.9 |
| | | 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 |
| | | Debt — Intermediate & Long-Term Maturities U.S. Treasury ............................... 0.0% |
| | | U.S. Government Agency ...................... 0.0 |
| | | State and Municipal – tax-free .............. 94.1 |
| | | 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: 0 |
| | | Years: 12.5 |
|
| 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 No |
| | | Writing or investing in options on equities? No – |
| | | Writing or investing in options on debt securities? Yes No |
| | | Writing or investing in options on stock indices? No – |
| | | Writing or investing in interest rate futures? Yes to both |
| | | Writing or investing in stock index futures? No – |
| | | Writing or investing in options on futures? Yes 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? Yes No |
| | | Investments in securities of foreign issuers? No – |
| | | Currency exchange transactions? No – |
| | | Loaning portfolio securities? No – |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes to both |
| | | Margin purchases? No – |
| | | Short selling? No – |
|
S 1: | Portfolio Turnover |
| | |
| 71. | | Portfolio turnover rate for the period: |
| | | Purchases ($000s): 1,195,992 |
| | | Sales ($000s): 1,010,125 |
| | | Monthly average Value of portfolio ($000s): 2,651,081 |
| | | Percent turnover (lesser of Purchases or Sales, divided by Value): 38% |
|
S 1: | Financial Info — Income and Expenses |
| | |
| 72. | | The number of months covered by the values in Items 72 and 73: 12 |
| | | Income ($000s) Net interest income .............................................. | 122,262 |
|
| | | Net dividend income .............................................. | – |
|
| | | Account maintenance fees ......................................... | – |
|
| | | Net other income ................................................. | – |
|
| | | Expenses ($000s) Advisory fees .................................................... | 263 |
|
| | | Administrator fees ............................................... | 1,377 |
|
| | | Salaries and other compensation .................................. | – |
|
| | | Shareholder Servicing Agent fees ................................. | 406 |
|
| | | Custodian fees ................................................... | 23 |
|
| | | Postage .......................................................... | – |
|
| | | Printing expenses ................................................ | 19 |
|
| | | Directors’ fees .................................................. | 3 |
|
| | | Registration fees ................................................ | – |
|
| | | Taxes ............................................................ | – |
|
| | | Interest ......................................................... | – |
|
| | | Bookkeeping fees paid to anyone performing this service .......... | – |
|
| | | Auditing fees .................................................... | 24 |
|
| | | Legal fees ....................................................... | – |
|
| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | 654 |
|
| | | Amortization of organization expenses ............................ | – |
|
| | | Shareholder meeting expenses ..................................... | – |
|
| | | Other expenses ................................................... | – |
|
| | | Total expenses ................................................... | 2,769 |
|
| | | Expense reimbursements ($000s): 48 |
| | | Net investment income ($000s): 119,541 |
| | | Realized capital gains ($000s): 20,248 |
| | | Realized capital losses ($000s): 48,251 |
| | | Net unrealized appreciation during the period ($000s): 0 |
| | | Net unrealized depreciation during the period ($000s): 227,270 |
| | | Total income dividends for which the record date passed during the period ($000s): 29,655 |
| | | Dividends for a second class of shares ($000s): 89,886 |
| | | 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: $0.4630 |
| | | Dividends for a second class of shares: $0.4700 |
| | | Distribution of capital gains: $0.0000 |
| | | Other distributions: $0.0000 |
|
S 1: | Financial Info — Condensed Balance Sheet Data |
| | |
| 74. | | Assets ($000s) |
| | | Cash ............................................................. | 7 |
|
| | | Repurchase agreements ............................................ | – |
|
| | | Short-term debt securities, other than repurchase agreements ..... | 100,858 |
|
| | | Long-term debt securities, including convertible debt ............ | 2,450,387 |
|
| | | Preferred, conv. preferred and adjustable-rate preferred stock ... | – |
|
| | | Common stock ..................................................... | – |
|
| | | Options on equities .............................................. | – |
|
| | | Options on all futures ........................................... | – |
|
| | | Other investments ................................................ | 272 |
|
| | | Receivables from portfolio instruments sold ...................... | 30,248 |
|
| | | Receivables from affiliated persons .............................. | – |
|
| | | Other receivables ................................................ | 40,900 |
|
| | | All other assets ................................................. | – |
|
| | | Total assets ..................................................... | 2,622,672 |
|
| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | 10,673 |
|
| | | Amounts owed to affiliated persons ............................... | 4,166 |
|
| | | Senior long-term debt ............................................ | – |
|
| | | Other liabilities: Reverse repurchase agreements .................................. | – |
|
| | | Short sales .................................................... | – |
|
| | | Written options ................................................ | – |
|
| | | All other liabilities .......................................... | 5,406 |
|
| | | Equity ($000s) Senior equity .................................................... | – |
|
| | | Net assets of common shareholders ................................ | 2,602,427 |
|
| | | Number of shares outstanding (000s): 63,130 |
| | | Number of shares outstanding of a second class of shares (000s): 193,873 |
| | | Net Asset Value (NAV) per share (to nearest cent): $10.13 |
| | | NAV per share of a second class of shares (to nearest cent): $10.13 |
| | | Total number of shareholder accounts: 20,358 |
| | | Total value of assets in segregated accounts ($000s): 3,283 |
|
| 75. | | Monthly average net assets during the period ($000s): 2,740,642 |
|
Series 2 | ↑Information Common to All Funds/Series ↑List of 2 Funds/Series |
|
| 7. | | Name: Vanguard NY Tax-Exempt Money Market Fund [ now Vanguard New York Municipal Money Market Fund ] — S#2906 ⇒ VYFXX |
| | | 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) ............................ | 268,166 |
|
| | | Reinvestment of dividends and distributions ................ | 6,385 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 302,090 |
|
| | | 2nd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 309,374 |
|
| | | Reinvestment of dividends and distributions ................ | 6,709 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 342,510 |
|
| | | 3rd Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 247,027 |
|
| | | Reinvestment of dividends and distributions ................ | 7,286 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 207,076 |
|
| | | 4th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 390,057 |
|
| | | Reinvestment of dividends and distributions ................ | 13,216 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 744,791 |
|
| | | 5th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 527,259 |
|
| | | Reinvestment of dividends and distributions ................ | 12,917 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 575,505 |
|
| | | 6th Month: Total NAV of shares sold: New sales (including exchanges) ............................ | 245,260 |
|
| | | Reinvestment of dividends and distributions ................ | 4,648 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 346,453 |
|
| | | Total of all months: ($000s) Total NAV of shares sold: New sales (including exchanges) ............................ | 1,987,143 |
|
| | | Reinvestment of dividends and distributions ................ | 51,161 |
|
| | | Other ...................................................... | – |
|
| | | Total NAV of shares redeemed & repurchased (inc. exchanges) .. | 2,518,425 |
|
| | | 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 ............................................... | – |
|
| | | 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): 0 |
|
| 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? Yes |
| | | 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 2: | 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? No |
| | | Was the Registrant/Series a diversified investment company at the end of the period? No |
|
| 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: $3,000 |
|
| 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 .............. 99.5 |
| | | 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 |
| | | 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: 30 |
| | | 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 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 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 to both |
| | | Investments in shares of other investment companies? Yes No |
| | | Investments in securities of foreign issuers? No – |
| | | Currency exchange transactions? No – |
| | | Loaning portfolio securities? No – |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes to both |
| | | 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: 12 |
| | | Income ($000s) Net interest income .............................................. | 125,571 |
|
| | | Net dividend income .............................................. | – |
|
| | | Account maintenance fees ......................................... | – |
|
| | | Net other income ................................................. | – |
|
| | | Expenses ($000s) Advisory fees .................................................... | 505 |
|
| | | Administrator fees ............................................... | 1,851 |
|
| | | Salaries and other compensation .................................. | – |
|
| | | Shareholder Servicing Agent fees ................................. | 1,458 |
|
| | | Custodian fees ................................................... | 41 |
|
| | | Postage .......................................................... | – |
|
| | | Printing expenses ................................................ | 15 |
|
| | | Directors’ fees .................................................. | 6 |
|
| | | Registration fees ................................................ | – |
|
| | | Taxes ............................................................ | – |
|
| | | Interest ......................................................... | – |
|
| | | Bookkeeping fees paid to anyone performing this service .......... | – |
|
| | | Auditing fees .................................................... | 18 |
|
| | | Legal fees ....................................................... | – |
|
| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | 1,415 |
|
| | | Amortization of organization expenses ............................ | – |
|
| | | Shareholder meeting expenses ..................................... | – |
|
| | | Other expenses ................................................... | 411 |
|
| | | Total expenses ................................................... | 5,720 |
|
| | | Expense reimbursements ($000s): 31 |
| | | Net investment income ($000s): 119,882 |
| | | Realized capital gains ($000s): 86 |
| | | Realized capital losses ($000s): 227 |
| | | 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): 119,882 |
| | | 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: $0.0230 |
| | | Distribution of capital gains: $0.0000 |
| | | Other distributions: $0.0000 |
|
S 2: | Financial Info — Condensed Balance Sheet Data |
| | |
| 74. | | Assets ($000s) |
| | | Cash ............................................................. | – |
|
| | | Repurchase agreements ............................................ | – |
|
| | | Short-term debt securities, other than repurchase agreements ..... | 4,789,110 |
|
| | | 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 ................................................ | 509 |
|
| | | Receivables from portfolio instruments sold ...................... | 2,760 |
|
| | | Receivables from affiliated persons .............................. | – |
|
| | | Other receivables ................................................ | 30,142 |
|
| | | All other assets ................................................. | – |
|
| | | Total assets ..................................................... | 4,822,521 |
|
| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | – |
|
| | | Amounts owed to affiliated persons ............................... | 5,712 |
|
| | | Senior long-term debt ............................................ | – |
|
| | | Other liabilities: Reverse repurchase agreements .................................. | – |
|
| | | Short sales .................................................... | – |
|
| | | Written options ................................................ | – |
|
| | | All other liabilities .......................................... | 5,899 |
|
| | | Equity ($000s) Senior equity .................................................... | – |
|
| | | Net assets of common shareholders ................................ | 4,810,910 |
|
| | | Number of shares outstanding (000s): 4,810,939 |
| | | Net Asset Value (NAV) per share (to nearest cent): $1.00 |
| | | Mark-to-market NAV per share: $1.0002 |
| | | Total number of shareholder accounts: 21,686 |
| | | Total value of assets in segregated accounts ($000s): 0 |
|
| 75. | | Daily average net assets during the period ($000s): 5,234,513 |
|
Signature | | ↑Top of Form N-SAR |
| | | |
| | | /s/ William Gessig |
| | | Name: William Gessig |
| | | Title: Manager |