Post-Effective Amendment
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 485APOS Mentor Institutional Trust 485APOS 95 376K
2: EX-9 Exhibit 9B 3 9K
3: EX-11 Statement re: Computation of Earnings Per Share 1 6K
4: EX-15 Letter re: Unaudited Interim Financial Information 4 11K
5: EX-18 Letter re: Change in Accounting Principles 4 13K
EX-18 — Letter re: Change in Accounting Principles
| EX-18 | 1st Page of 4 | TOC | ↑Top | Previous | Next | ↓Bottom | Just 1st |
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Exhibit 18
MENTOR INSTITUTIONAL TRUST
PLAN PURSUANT TO RULE 18F-3(D) UNDER THE
INVESTMENT COMPANY ACT OF 1940
Effective August __, 1996
Each series of shares of beneficial interest in Mentor Institutional Trust
(the "Trust") (each a "Portfolio" and, together, the "Portfolios") may from time
to time issue one or more of the following classes of shares: Class A shares,
Class B shares, Class D shares and Class E shares. Each class is subject to such
investment minimums and other conditions of eligibility as are set forth in the
prospectus in respect of any such Portfolio as from time to time in effect
(each, the "Prospectus"). The differences in expenses among these classes of
shares, and the conversion and exchange features of each class of shares, are
set forth below in this Plan. Except as noted below, expenses are allocated
among the classes of shares of each Portfolio based upon the net assets of each
Portfolio attributable to shares of each class. This Plan is subject to change,
to the extent permitted by law and by the Agreement and Declaration of Trust and
By-laws of the Trust, by action of the Trustees of the Trust.
CLASS A SHARES
DISTRIBUTION AND SERVICE FEES
Class A shares pay no Rule 12b-1 distribution fees, but pay shareholder
service fees of .25% of the relevant Portfolio's average net assets attributable
to Class A shares.
EXCHANGE FEATURES
Class A shares of any Portfolio may be exchanged, at the holder's option,
(i) for Class A shares of any other Portfolio and any portfolio of The Mentor
Funds which offers Class A shares and (ii) for shares of the Cash Resource U.S.
Government Money Market Fund, without the payment of a sales charge beginning 15
days after purchase, provided that such other shares are available to residents
of the relevant state. The holding period for determining any CDSC will include
the holding period of the shares exchanged, and will be calculated using the
schedule of any portfolio into or from which shares have been exchanged that
would result in the highest CDSC applicable to such shares.
CONVERSION FEATURES
Class A shares do not convert into any other class of shares.
INITIAL SALES CHARGE
Class A shares are offered at a public offering price that is equal to their
net asset value ("NAV") plus a sales charge of up to 5.75% of the public
offering price (which maximum may be less for
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certain Portfolios, as described in the Prospectus). The sales charges on Class
A shares are subject to reduction or waiver as permitted by Rule 22d-1 under the
1940 Act and as described in the Prospectus.
CONTINGENT DEFERRED SALES CHARGE
Purchases of Class A shares of $______ or more that are redeemed within one
year of purchase are subject to a CDSC of 1.00% of either the purchase price or
the NAV of the shares redeemed, whichever is less. Class A shares are not
otherwise subject to a CDSC.
The CDSC on Class A shares is subject to reduction or waiver in certain
circumstances, as permitted by Rule 6c-10 under the 1940 Act and as described in
the Prospectus.
CLASS B SHARES
DISTRIBUTION AND SERVICE FEES
Class B shares pay distribution fees pursuant to plans adopted pursuant to
Rule 12b-1 under the 1940 Act (the "Class B Plans"). Class B shares also bear
any costs associated with obtaining shareholder approval of the Class B Plans
(or an amendment to a Class B Plan). Pursuant to the Class B Plans, Class B
shares may pay up to .75% of the relevant Portfolio's average net assets
attributable to Class B shares (which percentage may be less for certain
Portfolios, as described in the Prospectus). Amounts payable under the Class B
Plans are subject to such further limitations as the Trustees may from time to
time determine and as set forth in the Prospectus.
EXCHANGE FEATURES
Class B shares of any Portfolio may be exchanged, at the holder's option,
(i) for Class B shares of any other Portfolio and any portfolio of the Mentor
Funds which offers Class B shares and (ii) for shares of the Cash Resource U.S.
Government Money Market Fund, without the payment of a sales charge beginning 15
days after purchase, provided that such other shares are available to residents
of the relevant state. The holding period for determining any CDSC will include
the holding period of the shares exchanged, and will be calculated using the
schedule of any Portfolio into or from which shares have been exchanged that
would result in the highest CDSC applicable to such Class B shares.
CONVERSION FEATURES
Class B shares do not convert into any other class of shares.
INITIAL SALES CHARGE
Class B shares are offered at their NAV, without an initial sales charge.
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CONTINGENT DEFERRED SALES CHARGE
Class B shares that are redeemed within 6 years of purchase are subject to a
CDSC of up to 4.00% of either the purchase price or the NAV of the shares
redeemed, whichever is less (which period may be shorter and which percentage
may be less for certain Portfolios, as described in the Prospectus); such
percentage declines the longer the shares are held, as described in the
Prospectus. Class B shares purchased with reinvested dividends or capital gains
are not subject to a CDSC.
The CDSC on Class B shares is subject to reduction or waiver in certain
circumstances, as permitted by Rule 6c-10 under the 1940 Act and as described in
the Prospectus.
CLASS D SHARES
DISTRIBUTION AND SERVICE FEES
Class D shares pay no Rule 12b-1 distribution fees.
EXCHANGE FEATURES
Class D shares of any Portfolio may be exchanged, at the holder's option,
(i) for Class D shares of any other Portfolio and (ii) for shares of the Cash
Resource U.S. Government Money Market Fund, without the payment of a sales
charge beginning 15 days after purchase, provided that such other shares are
available to residents of the relevant state.
CONVERSION FEATURES
Class D shares do not convert into any other class of shares.
INITIAL SALES CHARGE
Class D shares are offered at their NAV, without an initial sales charge.
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CONTINGENT DEFERRED SALES CHARGE
Class D shares are not subject to any CDSC.
CLASS E SHARES
DISTRIBUTION AND SERVICE FEES
Class E shares pay no Rule 12b-1 distribution fees, but pay shareholder
service fees of .25% of the relevant Portfolio's average net assets attributable
to Class E shares.
EXCHANGE FEATURES
Class E shares of any Portfolio may be exchanged, at the holder's option,
(i) for Class E shares of any other Portfolio and (ii) for shares of the Cash
Resource U.S. Government Money Market Fund, without the payment of a sales
charge beginning 15 days after purchase, provided that such other shares are
available to residents of the relevant state.
CONVERSION FEATURES
Class E shares do not convert into any other class of shares.
INITIAL SALES CHARGE
Class E shares are offered at their NAV, without an initial sales charge.
CONTINGENT DEFERRED SALES CHARGE
Class E shares are not subject to any CDSC.
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