10-Q 1 umb8299.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 APRIL 30, 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 April 30, 2002. Pooled Equity Fund - 7,751,854 Pooled Debt Fund - 5,994,743 Pooled Income Fund - 3,115,320 ================================================================================ 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 April 30, 2002, and the condensed results of their operations for the periods ended April 30, 2002 and 2001, and are of a normal recurring nature. 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 Equity Fund for Employees Trusts Statements of Assets and Liabilities

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 Debt Fund for Employees Trusts Statements of Assets and Liabilities

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 4/30/02 Pooled Equity Fund ------------------ The Standard & Poors 500 returned -4.41% for the quarter ended April 30, 2002. The market worried about Enron and accounting issues. The Pooled Equity Fund followed a similar pattern, but ended with total return of -3.29% for the quarter. We were helped by our overweighting in energy, consumer non-durables, including retail, and transportation, primarily airlines (Fedex and Southwest). We were hurt by the usual culprit, technology, even though we were underweighted. The surprise was in healthcare. Even though we were equal weighted, the specific stocks we owned, especially Bristol Myers, hurt our performance. Pooled Debt Fund ---------------- In keeping with our philosophy of maintaining a high-quality portfolio with limited maturity exposure, about 55% 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 4.2 yrs. The total return of the Fund was 1.36% for the quarter ended 04/30/02. Our emphasis on Mortgage-backed holdings and a slightly shortened duration helped the fund outperform the Lehman Intermediate Gov/Cred index, which returned .90% for the same period. 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 quarter ended, the fund returned .45%. The Fund has an average maturity of 20 days. ================================================================================ 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 on Form 8-K. (a) Exhibits. The numbers set forth below correspond to the exhibit number in Item 601 of Regulation S-K. (2) Plan of Acquisition, reorganization, arrangement, liquidation or succession. Not applicable. (3) Articles of Incorporation and Bylaws. Not applicable. (4) Instrument Defining the Rights of Security Holders, Including Indentures. Not applicable. (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 April 30, 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 =============================================================================== 27.1 Article 5 FDS - Pooled Income The Schedule contains Summary Financial Information Extracted from the unaudited Financial Statements for the 3 Months Ending April 30, 2002, and is qualified in its entirety by reference to such Financial Statements.

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