10-Q 1 umb.txt 10-Q 1 trust10q013101.htm THE COLLECTIVE INVESTMENT TRUST FOR UMB BANK, NA THE COLLECTIVE INVESTMENT TRUSTS FORM 10-Q ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q MARK ONE / X / QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND EXCHANGE COMMISSION ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2002 OR / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND EXCHANGE COMMISSION ACT OF 1934 For the transition period from to ------------ ------------- Commission File number: 2-58109 THE COLLECTIVE INVESTMENT TRUST of which UMB Bank, n.a.is Trustee (Exact Name of the registrant as specified in its charter) Not applicable, Not Applicable ------------------------------ (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1010 Grand Avenue Kansas City, Missouri 64106 --------------------------- (Address of principal executive offices and zip code) (816) 860-7000 -------------- (Registrant's telephone number, including area code) Not Applicable -------------- (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes /X/ No / / The number of units of participation outstanding as of January 31, 2002. Pooled Equity Fund - 7,851,614 Pooled Debt Fund - 5,991,160 Pooled Income Fund - 3,072,973 ================================================================================ PART I -- FINANCIAL INFORMATION Item 1. Financial Statements. INTRODUCTORY COMMENTS The Condensed Financial Statements included herein have been prepared by the Trustee, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Trustee believes that the disclosures are adequate to enable a reasonable understanding of the information presented. The results of operations for the period are not necessarily indicative of the results to be expected for the full year. These Condensed Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the Collective Investment Trusts' Annual Report on Form 10-K for the year ended October 31, 2001. In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments necessary to present fairly the Funds' condensed financial position as of January 31, 2002, and the condensed results of their operations for the periods ended January 31, 2002 and 2001, and are of a normal recurring nature. The condensed Statements of Assets and Liabilities of the Funds as of October 31, 2001 have been derived from the audited Statements of Assets and Liabilities of the Funds as of that date. UMB BANK, n.a. Pooled Equity Fund for Employees Trusts Statements of Operations

Quarter Ending Quarter ~~FY Nine Months Nine Months~~ Ending ~~Ending~~FY Ended ~~Ended Ended 07~~01/31/0001 0701/31/0102 10/31/~~00 07/31/~~01 ~~07/31/00~~ -------- -------- -------- Investment Income Dividends 424,790 251,534 1,412,905 Interest 156,065 75,056 456,790 ------- ------ ------- Gross Investment Income 580,855 326,590 1,869,695 ------- ------- ---------~~-----~~ ~~Investment Income Interest 1,184,826 832,060 5,379,015 2,822,386 4,307,989 Gross Investment Income 1,184,826 832,060 5,379,015 2,822,386 4,307,989~~ Less: Audit Expense ~~(2,335)~~& ~~(4,869)~~Foreign Taxes (116,~~246~~225) (114,~~383~~895) (817,~~007~~091) ----- ----- ------~~--------------------------------------------------------~~ Net Investment Income 1574,~~182,491~~630 ~~827~~321,~~191~~695 51,~~367~~852,~~769~~604 ~~2,811,003~~======= ~~4,299,982~~======= ========= Realized and Unrealized Gain (Loss) on Investments: Realized Gain (Loss) on Investments: Proceeds from Sales 1135,~~885~~646,~~047~~284 948,~~392~~208,~~544~~314 65166,~~197~~390,~~455~~946 ~~51,990,165 57,517,799~~ Cost of Securities Sold 1135,~~879~~345,~~963~~810 951,~~232~~506,~~900~~409 66165,~~653~~218,~~932~~948 ~~51,168,425~~---------- ~~58,245,478~~---------- ----------- Net Realized Gain (Loss) 5300,~~084~~474 ~~159,644~~ (13,~~456~~298,~~477~~095) ~~821~~1,~~740 (727~~171,~~679)~~998 ------- --------- --------- Unrealized Gain (Loss) on Investments: Beginning of Period (112,~~528~~813,~~710)~~025 ~~1,445,340~~ (924,~~054~~555,044) 3312,~~211 (92~~813,~~054)~~025 End of Period ~~(961~~10,~~829) 2~~403,~~045,785~~058 333,~~212 2~~230,~~045,785~~308 (~~961~~4,~~829) Net Unrealized Gain (Loss) 566~~555,~~881 600,445 125,266 2,012,574 (869,775~~044) ---------- --------- ---------~~--------------------------------------------~~ Net ~~Realized and~~ Unrealized Gain (Loss) ~~571,965 760,089~~ (12,~~331~~409,~~211~~967) 27,~~834~~785,~~314~~352 (117,~~597~~368,~~454~~069) ~~on Investments Net Increase (Decrease) in Net Assets~~ --------- --------- ----------~~--------------------------------------------~~ ~~Resulting~~Net ~~from~~Realized ~~Operations~~and ~~1,754,456~~Unrealized 1Gain on Investments (2,~~587~~109,~~280~~493) 4,~~036~~487,~~558~~257 5(16,~~645~~196,~~317~~071) ~~2,702,528~~ ========= ========= ==========~~===================================================================================================~~

See note to Condensed Financial Statements ================================================================================ UMB Bank, n.a. Pooled Equity Fund for Employees Trusts Statements of Participants' Interest

Quarter Ending Quarter ~~FY Nine Nine~~ Ending ~~Ending~~FY Ended ~~Months Ended Months Ended 07~~01/31/0001 0701/31/0102 10/31/~~00 07/31/~~01 ~~07/31/00~~ -------- -------- --------~~-------------------------------------------------~~ Participants' Interest at Beginning of Period 76110,~~622~~225,~~374~~425 5675,~~821~~731,~~673~~756 92110,~~660~~225,~~744~~425 ~~68,086,026 92,660,744~~ Changes from Investment Activities: Net Investment Income 1574,~~182,491~~630 ~~827~~321,~~191~~695 51,~~367~~852,~~769~~604 ~~2,811,003 4,299,982~~ Net Realized Gain (Loss) on Investments 5300,~~084~~474 ~~159,644~~ (13,~~456~~298,~~477~~095) ~~821~~1,~~740 (727~~171,~~679)~~998 Net Unrealized Gain (Loss) inon Investments ~~566~~(2,~~881 600~~409,~~445~~967) ~~125~~7,~~266 2~~785,~~012,574~~352 (~~896~~17,~~775~~368,069) --------- --------- ---------- Net Increase (Decrease) from Investment Activity (1,534,863) 4,808,952 (14,343,467) --------- --------- ----------~~--------------~~ ~~Net Increase (Decrease) from 1,754,456 1,587,280 4,036,558 5,645,317 2,702,528 Investment Activity~~ Changes from Participating Unit Transactions: Received from Issuance of ~~118~~116,~~041~~850 units ~~987~~1,~~468 12~~259,~~812,950~~557 36,~~016~~467,~~979~~912 Received from Issuance of 5688,~~553~~419 units 9875,~~619,880~~824 ~~11,732,561~~ Payment on Redemption of ~~427~~624,~~990~~959 units (36,~~567~~712,~~713~~407) (4126,~~424~~618,~~226~~114) Payment on Redemption of ~~155~~258,~~160~~959 units ~~(16,844,254) (35,943,377)~~ --------- (2,571,786) ---------- ---------~~-------------------------------------------~~ Net Increase (Decrease) from ~~(7,224,374)~~Participating ~~(2,580,245)~~Unit Transactions (285,~~611~~452,~~276~~849) (171,~~902~~695,~~635~~962) (2420,~~210~~150,~~816~~202) ~~Participating Unit Transactions~~ --------- --------- ----------~~------------------------------------------~~ ~~Participant~~Participants's Interest at End of Period 71103,~~152~~237,~~456~~713 5578,~~828~~844,~~708~~746 6875,~~086~~731,~~026~~756 ~~55,858,708 71,152,456~~ =========== ========== ==========~~=======================================~~

10/31/~~2000~~2001 0701/31/~~2001~~2002 Cost Market Cost Market ---- ------ ----~~--------~~ ------~~-----------------~~ Assets: USCommon ~~Government~~Stock ~~and Agency Obligations 36~~64,~~761~~973,~~677~~990 3760,~~119~~418,~~452~~946 3259,~~760~~801,~~867~~439 3463,~~127~~031,~~646~~747 ~~Corporate~~Commercial ~~Bonds~~Paper 3012,~~852~~502,~~246~~743 3012,~~527~~502,~~683~~743 2012,~~293~~370,~~100~~710 2012,~~972~~370,~~106~~710 Short-Term Money Market Fund ~~-- -- 381~~2,~~560 381~~734,~~560~~775 ~~Total Investments 67~~2,~~613~~734,~~923~~775 673,~~647~~425,~~135~~621 533,~~435~~425,~~527~~621 ~~55,481,312 Cash~~ -- -- ~~Income Receivable 1,065,968 950,466 Receivable for Securities Sold~~ -- --- --------- ----------- ----------~~-------------------~~ ~~Totals~~Total ~~Assets:~~Investments 6880,~~713~~211,~~103~~508 5675,~~431~~656,~~778~~464 75,597,770 78,828,078 ========== ========== =========== ========== Cash 0 0 Interest & Dividends Receivable 89,083 70,078 Receivable for Securities Sold 0 0 - - Total Assets: 75,745,547 78,898,156 ========== ========== Liabilities: Disbursement in ~~excess~~Excess of Demand Deposit Cash ~~623~~7,~~213~~950 ~~599~~52,~~047~~392 Audit Fees Payable 35,~~864~~841 41,~~023~~018 Payable for Securities ~~Purchased~~Sold 0 0 -- -- Total Liabilities: ~~627~~13,~~077~~791 ~~603~~53,~~070~~410 ====== ========== Participants' Interest: $79.7644 Per Unit on 8,~~772~~022,~~286~~153 Units Outstanding ~~on 10/31/00 68~~75,~~086~~731,~~026~~756 $810.5004 Per Unit on 67,~~571~~851,~~666~~614 Units Outstanding ~~07/31/01 55,828,708~~ ---------- 78,844,746 ---------- Total Liabilities and Participants' Equity 6875,~~713~~745,~~103~~547 5678,~~431~~898,~~778~~156 ========== ==========

See note to Condensed Financial Statements ================================================================================ UMB Bank, n.a. Pooled Debt Fund for Employees Trusts Statements of Operations

Quarter Ending Quarter ~~FY Nine Months Nine Months~~ Ending ~~Ending~~FY Ended ~~Ended Ended 07~~01/31/0001 0701/31/0102 10/31/~~00 07/31/~~01 ~~07/31/00~~ -------- -------- --------~~------------------------------------------------------~~ Investment Income ~~Dividends 457,624 295,157 1,947,364 1,107,598 1,567,535~~ Interest ~~300,128 103,395~~ 1,~~547~~017,82622 ~~355~~806,~~419~~019 13,~~300~~664,~~044~~186 Gross Investment Income ~~757~~1,~~752~~017,622 ~~398~~806,~~552~~019 3,~~495~~664,~~189~~186 ~~1,463,017~~--------- ~~2,867,579~~------- --------- Less: Audit Expense ~~and~~& Foreign Taxes (26,~~336~~215) (4,~~895~~869) (916,~~354~~252) ~~(12,195) (11,257)~~ ----- ----- ------~~-----------------------------------------------------------~~ Net Investment Income ~~755~~1,~~416~~011,407 ~~393~~801,~~657~~150 3,~~485~~647,~~835~~934 ~~1,450,822~~========= ~~2,856,322~~======= ========= Realized and Unrealized Gain (Loss) on Investments: Realized Gain (Loss) on Investments: Proceeds from Sales 8517,~~146~~985,~~358~~594 309,~~225~~235,~~152~~292 ~~364~~71,~~173~~927,~~641~~598 ~~107,273,717 309,595,204~~ Cost of Securities Sold 8717,~~322~~834,~~394~~323 298,~~571~~995,~~220~~804 ~~363~~70,~~491~~891,~~108~~525 ~~107,622,024~~---------- ~~311,922,648~~--------- ---------- Net Realized Gain (Loss) (2151,~~176,036)~~271 ~~653~~239,~~932~~488 ~~682~~1,~~533 (348~~036,~~307)~~073 ~~(2,327,444)~~======= ======= ========= Unrealized Gain (Loss) on Investments: Beginning of Period 1233,~~671,647~~212 63,~~720~~542,~~771~~632 1333,~~443,563~~212 ~~12,813,025 13,443,563~~ End of Period 121,~~378~~935,~~336~~590 31,~~655~~920,~~900~~492 ~~12,813,025~~ 3,~~655~~542,~~900~~632 ~~12,378,336~~--------- --------- --------- Net Unrealized Gain (Loss) ~~(293~~1,~~311)~~902,378 (31,~~064~~622,~~871~~140) ~~(630~~3,~~538)~~509,420 (9========= ========= ========= Net Realized and Unrealized Gain/Loss on Investments 2,~~505~~053,~~432)~~649 (1,~~065~~382,~~227~~652) 4,545,493 --------- --------- ---------~~------------------------------------------------~~ Net ~~Realized and Unrealized Gain (Loss) on Investments 2,469,347 (2,410,939) 51,995 (9,505,432) (3,392,671) Net~~ Increase (Decrease) in Net Assets Resulting from Operations (13,~~713~~065,~~931)~~056 (2581,~~017,282~~502) ~~3,537,830 (~~8,~~054~~193,~~610)~~427 ~~(536,349)~~ ========= ======= =========~~=================================================~~

Quarter Ending Quarter ~~FY Nine Months Nine Months~~ Ending ~~Ending~~FY Ended ~~Ended Ended 07~~01/31/0001 0701/31/0102 10/31/~~00 07/31/~~01 ~~07/31/00~~ -------- -------- -------- Participants' Interest at Beginning of Period 68,086,026 55,765,659 68,086,026 ---------- ---------- ----------~~----------------------~~ ~~Participants' Interest at Beginning of Period 130,183,278 88,910,151 147,424,965 110,225,425 147,424,965~~ Changes from Investment Activities: Net Investment Income ~~755~~1,~~416~~011,407 ~~393~~801,~~657~~150 3,~~485~~647,~~835~~934 ~~1,450,822 2,856,322~~ Net Realized Gain (Loss) on Investments (2151,~~176,036)~~271 ~~653~~239,~~932~~488 ~~682~~1,~~533 (348~~036,~~307)~~073 ~~(2,327,444)~~ Net Unrealized Gain (Loss) inon Investments ~~(293~~1,~~311) (3~~902,~~064,871)~~379 (~~630~~1,~~538) (9~~622,~~157,125~~140) (13,~~065~~509,~~227)~~420 --------- --------- ---------~~-------------------------------------------------~~ Net Increase (Decrease) from Investment Activity (13,~~713~~065,~~931)~~056 (2581,~~017,282~~502) ~~3,537,830 (~~8,~~054~~193,~~610)~~427 ~~(536,349)~~--------- ------- --------- Changes from Participating Unit Transactions: Received from Issuance of ~~106~~85,~~143~~944 units 1683,~~107,593~~837 213,~~781~~804,~~514~~876 ~~19,523,107~~ Received from Issuance of 32169,~~978~~960 units 101,~~578~~500,~~614~~194 ~~4,532,681~~ Payment on Redemption of ~~496~~650,~~287~~361 units (5,~~069~~140,~~679~~445) (6224,~~518~~318,~~884~~670) Payment on Redemption of ~~206~~449,~~065~~520 units ~~(27,760,295) (23,769,053) (55,124,057)~~ --------- (3,923,890) ---------- ---------~~------------------------------------------------~~ Net Increase (Decrease) from Participating Unit Transactions (174,~~181~~456,~~681~~609) (32,~~962~~423,~~204~~696) (4020,~~737~~513,~~370~~794) ~~(19,240,150) (35,600,950)~~ --------- --------- ----------~~------------------------------------------------~~ ~~Participant~~Participants's Interest at End of Period ~~111~~66,~~287~~694,~~666~~474 8252,~~930~~760,~~665~~461 ~~110~~55,~~225~~765,~~425~~659 ~~82,930,665 111,287,666~~ ========== ========== ==========~~==============================================~~

10/31/~~2000~~2001 0701/31/~~2001~~2002 Cost Market Cost Market ---- ------ ----~~----------~~ ------~~-------------------~~ Assets: ~~Common~~United ~~Stock~~States 85Government & Agency Obligations 33,~~906~~038,~~212~~863 9835,~~719~~400,~~237~~946 7032,~~996~~169,~~634~~296 7433,~~652~~360,~~534~~954 ~~Commercial~~Corporate ~~Paper~~Bonds 1018,~~037~~377,~~926~~079 1019,~~037~~557,~~926~~628 717,~~776~~642,~~521~~347 718,~~776~~371,~~521~~181 ~~Other~~Short-term ~~Investments~~Money 1Market Fund 91,~~361,675~~852 191,~~361,675~~852 1347,~~642,194~~713 1347,~~642,194~~713 ------ ------ ------- ------- Total Investments 9751,~~305~~507,~~813~~794 ~~110~~55,~~118~~050,~~838~~426 8050,~~415~~159,~~349~~356 8452,~~071~~079,~~249~~848 ========== ========== ========== ========== Cash 0 0 ~~Income~~Interest Receivable ~~116~~739,~~416~~608 76821,~~771~~215 Receivable for Securities Sold 0 0 -~~----------~~ -~~----------~~ ~~Totals~~Total Assets: ~~110~~55,~~235~~790,~~254~~034 8452,~~148~~901,~~020~~063 =========== =========== Liabilities: ~~Disbursement in excess of Demand Deposit Cash 5,302 1,212,607~~ Audit Fees Payable 45,~~527~~090 ~~4,748~~240 Payable for Securities ~~Purchased~~Sold 0 0 Disbursements in excess of demand deposit cash 19,285 140,362 ------ ------- Total Liabilities: 924,~~829~~375 1140,~~217,355~~602 ------ ------- Participants' Interest: $118.0489 ~~Per~~per ~~Unit~~unit on 96,~~983~~270,~~282~~720 ~~Units~~units ~~Outstanding~~outstanding on 10/31/0001 ~~110~~55,~~225~~765,~~425~~659 ---------- $108.2181 ~~Per~~per ~~Unit~~unit on 85,~~118~~991,~~807~~160 ~~Units~~units ~~Outstanding~~outstanding 0701/31/0102 8252,~~930~~760,~~665~~461 ----------- ~~-----------~~ Total Liabilities and Participants' Equity ~~110~~55,~~235~~790,~~254~~034 8452,~~148~~901,~~020~~063 =========== ===========

See note to Condensed Financial Statements ================================================================================ UMB Bank, n.a. Pooled Income Fund for Employees Trusts Statements of Operations

Quarter Ending Quarter ~~FY Nine Months Nine Months~~ Ending ~~Ending~~FY Ended ~~Ended Ended 07~~01/31/0001 0701/31/0102 10/31/~~00 07/31/~~01 ~~07/31/00~~ -------- -------- -------- Investment Income Interest 359,150 103,494 1,008,975 ------- ------- --------- Gross Investment Income 359,150 103,494 1,008,975 ------- ------- --------- ~~Investment Income Interest 393,273 212,988 1,551,790 839,524 1,172,776 Gross Investment Income 393,273 212,988 1,551,790 839,52 1,172,776~~ Less: Audit Expense ~~and~~& Foreign Taxes (~~856~~2,426) (1,770) (36,~~400~~365) ~~(4,595) (2,578)~~ ----- ----- -----~~--------------------------------------------------------~~ Net Investment Income ~~392~~356,~~417~~724 ~~211~~101,~~218~~724 1,~~548~~002,~~390~~610 ~~834,929~~======= ~~1,170,198~~======= ========= Realized and Unrealized Gain (Loss) on Investments: Realized Gain (Loss) on Investments: Proceeds from Sales 6268,~~947~~357,~~759~~538 6241,~~588~~619,000 ~~273~~280,~~484~~574,~~686~~802 ~~205,135,915 204,352,266~~ Cost of Securities Sold 6268,~~948~~357,~~116~~538 6241,~~585~~619,~~460~~000 ~~273~~280,~~484~~574,~~686~~802 ~~205,133,295~~---------- ~~204,352,623~~---------- ----------- Net Realized Gain (Loss) ~~(357)~~0 800 --0 ~~80 (357)~~ Unrealized Gain (Loss) on Investments: Beginning of Period --0 --0 --0 ~~-- --~~ End of Period --0 --0 0 -- -- -- Net Unrealized Gain (Loss) --0 --0 0 -- -- -~~----------------------------------------------------------------------~~ Net Realized and Unrealized Gain ~~(Loss)~~on ~~(357)~~Investments 800 --0 800 ~~(357)~~- on- ~~Investments~~- Net Increase ~~(Decrease)~~ in ~~Net~~ Assets ~~-----------------------------------------------------------------------~~ Resulting from Operations ~~392~~356,~~060~~724 ~~211~~101,~~298~~724 1,~~548~~002,~~390~~610 ~~835,009 1,169,841~~ ======= ======= =========~~====================================================================================================~~

Quarter Ending Quarter ~~FY Nine Months Nine Months~~ Ending ~~Ending~~FY Ended ~~Ended Ended 07~~01/31/0001 0701/31/0102 10/31/~~00 07/31/~~01 ~~07/31/00~~ -------- -------- --------~~--------------------------------------------------~~ Participants' Interest at Beginning of Period 2522,~~586~~460,~~062~~962 20,~~110~~420,~~084~~751 ~~26,636,430~~ 22,460,962 ~~26,636,430~~========== ========== ========== Changes from Investment Activities: Net Investment Income ~~392~~356,~~417~~724 ~~211~~101,~~218~~724 1,~~548~~002,~~390~~610 ~~834,929 1,170,198~~ Net Realized Gain (Loss) on Investments ~~(357)~~0 800 0 ~~80 (357)~~ Net Unrealized Gain (Loss) inon Investments 0 0 0 0- 0- - Net Increase (Decrease) from Investment Activity 356,724 101,724 1,002,610 ------- ------- ---------~~-------------------------------------------------~~ ~~Net Increase (Decrease) from 392,060 211,298 1,548,390 835,009 1,169,841 Investment Activity~~ Changes from Participating Unit Transactions: Received from Issuance of ~~158~~87,~~287~~313 units 1551,~~023,902~~923 43,~~727~~378,~~675~~013 ~~2,533,371~~ Received from Issuance of 24134,~~756~~078 units ~~235~~883,~~713~~349 ~~4,166,526~~ Payment on Redemption of ~~163~~325,~~252~~198 units (12,~~058~~054,~~651~~207) (106,~~451~~420,~~533~~834) ~~(5,541,475)~~--------- --------- Payment on Redemption of 77170,~~126~~501 units (31,~~165~~123,~~762~~028) ~~(8,924,724)~~ ---------~~----------------------------------------------------------------~~ Net Increase (Decrease) from ~~(2,930,049)~~Participating ~~(34,829)~~Unit Transactions (51,~~723~~502,~~858~~284) (3239,~~009,418~~679) (43,~~758~~042,~~188~~821) ~~Participating Unit Transactions~~ --------- ------- ---------~~-------------------------------------------------~~ ~~Participant~~Participants's Interest at End of Period 2321,~~048~~315,~~073~~402 20,~~286~~282,~~553~~796 ~~22,460,962~~ 20,~~286~~420,~~553~~751 ~~23,048,073~~ ========== ========== ==========~~===============================-----===========~~

See note to Condensed Financial Statements =============================================================================== UMB Bank, n.a. Pooled Income Fund for Employees Trusts Statements of Assets and Liabilities

10/31/~~2000~~2001 0701/31/~~2001~~2002 Cost Market Cost Market ---- ------ ----~~----------~~ ------~~-----------------~~ Assets: United States Government ~~and~~& Agency Obligations 4,~~483~~446,~~159~~641 4,~~483~~446,~~159~~641 25,~~990~~023,~~589~~738 25,~~990~~023,~~589~~738 Commercial Paper 1311,~~916~~440,~~493~~585 1311,~~916~~440,~~493~~585 1411,~~679~~538,~~589~~826 1411,~~679~~538,~~113~~826 Short-~~Term~~term Money Market Fund 34,~~990~~527,~~193~~397 34,~~990~~527,~~193~~397 24,~~609~~158,~~688~~711 24,~~609~~158,~~688~~711 --------- --------- --------- --------- Total Investments 2220,~~389~~414,~~845~~623 2220,~~389~~414,~~845~~623 20,~~279~~721,~~390~~275 20,~~279~~721,~~390~~275 ========== ========== ========== ========== Cash 0 022,612 ~~Income~~Interest & Dividends Receivable 728,~~747~~310 85,~~969~~210 Receivable for Securities Sold 0 533,000 - ------- Total Assets: 20,422,933 21,282,097 ========== ========== Liabilities: Audit Fees Payable 2,182 389 Payable for Securities Sold 0 998,912 - ------- Total Liabilities 2,182 999,301 ----- ------- Participants' Interest: $6.57 per unit on 3,109,396 units outstanding in 2001 20,420,751 ---------- $6.60 per unit on 3,072,973 units outstanding as of 01/31/02 20,282,796 ---------- Total Liabilities and Participants' Equity 20,422,933 21,282,097 ========== ==========

See note to Condensed Financial Statements =============================================================================== MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR QUARTER ENDING 1/31/02 POOLED EQUITY For the quarter ended Jan 31, the fund had a total return of 6.36%, compared to the Standard & Poors which had a total return of 7.03%. The quarter was marked by two good months of recovery following the 9/11 attack and a weak January. The NASDQ showed a similar but more magnified pattern. During the quarter we reduced our technology exposure by selling our positions in Altera, Tellabs and Texas Instruments. The proceeds were redeployed into financial stocks, like Merrill Lynch and American International Group, and AOL Time Warner. POOLED DEBT FUND In keeping with our philosophy of maintaining a high-quality portfolio with limited maturity exposure, about 48% of the portfolio is held in U.S. Government and Agency issues. Approximately 50% of the portfolio will mature within five years. The weighted average life of the total portfolio is approximately 4.4yrs. The total return of the Fund was -.90% for the quarter ended 01/31/02. The Fund delivered slightly better returns than the general market, due to a slightly shorter average maturity. POOLED INCOME FUND The Fund continues to be invested in short-term U.S. Government and Agency obligations and high-quality commercial paper. For the previous quarter, the fund returned .46%. The Fund has an average maturity of 18 days. J. Eric Kelley Vice President UMB Bank, NA ================================================================================ PART II -- OTHER INFORMATION Item 1. Legal Proceedings. Not applicable. Item 2. Changes in Securities. Not applicable. Item 3. Defaults Upon Senior Securities. Not applicable. Item 4. Submission of Matters to a Vote of Security holders. Not applicable. Item 5. Other Information. Not applicable. Item 6. Exhibits and Reports Form 8-K. (a) Exhibits. The numbers set forth below correspond to the exhibit number in Item 601 of Regulation S-K. (b) Plan of Acquisition, reorganization, arrangement, liquidation or succession. Not applicable. (c) Articles of Incorporation and Bylaws. Not applicable. (d) Instrument Defining the Rights of Security Holders, Including Indentures Not applicable. Item Number (10) Material Contracts. Not applicable. (11) Statement re Computation of Per Share Earnings. Not applicable. (15) Letter re Unaudited Interim Financial Information. Not applicable. (18) Letter re Change in Accounting Principles. Not applicable. (19) Report Furnished to Security Holders. Not applicable. (22) Published Report Regarding Matters Submitted to Security Holders. Not applicable. (23) Consents of Experts and Counsel. Not applicable. (24) Power of Attorney. Not applicable. (27) Financial Data Schedule. 27.1 - Pooled Income Fund 27.2 - Pooled Equity Fund 27.3 - Pooled Debt Fund (99) Additional Exhibits. None. (b) Reports on Form 8-K. No report on Form 8-K was required to be filed during the three months ended Nanuary 31, 2002. ================================================================================ SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The Collective Investment Trusts for Which UMB Bank, n.a. is Trustee (Registrant) by UMB Bank, n.a. as trustee By: /s/ Ralph R. Santoro ------------------------ Date: March 17, 2002 Ralph R. Santoro Senior Vice President By: /s/ Edward J. McShane ------------------------- Edward J. McShane Executive Vice President ================================================================================ INDEX TO EXHIBITS ----------------- 27.1 Financial Data Schedule for Pooled ---------------------------------- Income Fund ----------- 27.2 Financial Data Schedule for Pooled ---------------------------------- Equity Fund ----------- 27.3 Financial Data Schedule for Pooled ---------------------------------- Debt Fund --------- ================================================================================ 27.1 Article 5 FDS - Pooled Income The Schedule contains Summary Financial Information Extracted from the unaudited Financial Statements for the 3 Months Ending January 31, 2002, and is qualified in its entirety by reference to such Financial Statements. Period - Type 3 MTHS Fiscal Year End 10/31/2002 Period end 01/31/2002 Cash 22,612 Securities 20,721,275 Receivables 538,210 Allowances 0 Inventory 0 Current Assets 0 PP&E 0 Depreciation 0 Total Assets 21,282,097 Current Liabilities 999,301 Bonds 0 Preferred Mandatory 0 Preferred Mandatory 0 Common 0 Other SE 20,282,796 Total Liability and Equity 21,282,097 Sales 0 Total Revenues 103,494 CGS 0 Total Costs 0 Other Expenses (1,770) Loss Provision 0 Interest Expense 0 Income Pretax 101,724 Income Tax 0 Income Continuing 101,724 Discontinued 0 Extraordinary 0 Changes 0 Net Income 101,724 EPS Primary $0.03 EPS Diluted $0.03 ================================================================================ 27.2 Article 5 FDS - Pooled Equity Schedule contains Summary Financial Information Extracted from the unaudited Financial Statements for the 3 Months Ending January 31, 2002, and is qualified in its entirety by reference to such Financial Statements. Period - Type 3 MTHS Fiscal Year End 10/31/2002 Period end 01/31/02 Cash 0 Securities 78,828,078 Receivables 70,078 Allowances 0 Inventory 0 Current Assets 0 PP&E 0 Depreciation 0 Total Assets 78,898,156 Current Liabilities 53,410 Bonds 0 Preferred Mandatory 0 Preferred Mandatory 0 Common 0 Other SE 78,844,746 Total Liability and Equity 78,898,156 Sales 0 Total Revenues 326,590 CGS 0 Total Costs 0 Other Expenses (4,895) Loss Provision 0 Interest Expense 0 Income Pretax 321,695 Income Tax 0 Income Continuing 321,695 Discontinued 0 Extraordinary 0 Changes 0 Net Income 321,695 EPS Primary $0.04 EPS Diluted $0.04 ================================================================================ 27.3 Article 5 FDS - Pooled Debt Schedule contains Summary Financial Information Extracted from the unaudited Financial Statements for the 3 Months Ending January 31, 2002, and is qualified in its entirety by reference to such Financial Statements. Period - Type 3 MTHS Fiscal Year End 10/31/2002 Period end 01/31/02 Cash 0 Securities 52,079,848 Receivables 821,215 Allowances 0 Inventory 0 Current Assets 0 PP&E 0 Depreciation 0 Total Assets 52,901,063 Current Liabilities 140,602 Bonds 0 Preferred Mandatory 0 Preferred Mandatory 0 Common 0 Other SE 52,760,461 Total Liability and Equity 52,901,063 Sales 0 Total Revenues 806,019 CGS 0 Total Costs 0 Other Expenses (4,869) Loss Provision 0 Interest Expense 0 Income Pretax 801,150 Income Tax 0 Income Continuing 801,150 Discontinued 0 Extraordinary 0 Changes 0 Net Income 801,150 EPS Primary $0.13 EPS Diluted $0.13 ================================================================================

Totals Assets: 22,462,592 20,288,359 =========== ==========

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