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

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

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

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

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

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 ================================================================================

COLLECTIVE INVESTMENT TRUSTS FOR UNITED MISSOURI BANK N A 10-Q