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SCHEDULE 14C INFORMATION
INFORMATION STATEMENT PURSUANT TO SECTION 14(C) OF THE SECURITIES EXCHANGE
ACT OF 1934 (AMENDMENT NO. )
Filed by the Registrant [ X ]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Information Statement [ ] Confidential, for Use of the
[X] Definitive Information Statement the Commission Only (as
permitted by Rule 14c-5(d)(2))
THE VANTAGEPOINT FUNDS
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(Name of Registrant as Specified In Its Charter)
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Name of Person(s) Filing Information Statement, if other than Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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[ ] Fee paid previously with preliminary materials.
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[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
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(2) Form, Schedule or Registration Statement No.:
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(3) Filing Party:
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(4) Date Filed:
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THE VANTAGEPOINT FUNDS
777 North Capital Street, N.E.
Suite 600
Washington, DC 20002
Notice of Action by Written Consent
To the Shareholders of The Vantagepoint Funds:
Pursuant to Article 5, Section 2, of the Agreement and Declaration of
Trust of The Vantagepoint Funds (the "Fund"), notice is hereby given that, by
written consent delivered to the Fund on September 27, 2001, the holders of a
majority of the outstanding shares of the Fund voted to amend the Agreement and
Declaration of Trust as it relates to the classification and tenure of the Board
of Directors. The Fund's Information Statement, which has been filed with the
Securities and Exchange Commission, accompanies this Notice.
By Order of the Board of Directors
/s/ Girard Miller
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Girard Miller, President and Chief
Executive Officer
THE VANTAGEPOINT FUNDS
Information Statement Pursuant to Section 14C
of the Securities Exchange Act of 1934
This Information Statement is being mailed on or about October 5, 2001,
to all shareholders of record at the close of business on September 26, 2001, of
the Fund, in connection with resolutions of the Board of Directors and the
written consent of the holders of greater than 50% of the Fund's shares
providing for an amendment to the Agreement and Declaration of Trust as it
relates to the classification and tenure of the Board of Directors.
The Amendment to the Fund's Agreement and Declaration of Trust will be
effective on or about October 31, 2001. Because the proposed amendment has
already been approved by a majority of the shares entitled to vote, you are not
required to take any action. This Information Statement is your notice that the
amendment has been approved, and you will receive no further notice when the
change becomes effective.
WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A
PROXY.
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THE AMENDMENT
On September 26, 2001, the Board of Directors of the Funds approved an
amendment to the Agreement and Declaration of Trust relating to the
classification and tenure of the Board of Directors and authorized the officers
of the Fund to seek the written consent of a majority of the outstanding shares
of the Fund approving an amendment pursuant to Article V, Section 4, of the
Agreement and Declaration of Trust.
Such written consent was received on September 27, 2001. The Amendment
as presented is attached to this information statement as Exhibit A.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT
At the close of business on September 26, 2001, the number of
outstanding shares for each portfolio of the Fund are as follows:
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Money Market Fund 118,836,401.460
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Income Preservation Fund 3,606,682.418
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U.S. Treasury Securities Fund 12,894,471.470
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Asset Allocation Fund 93,861,691.931
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Equity Income Fund 73,456,993.427
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Growth & Income Fund 40,619,245.196
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Growth Fund 307,624,332.775
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Aggressive Opportunities Fund 77,827,092.826
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International Fund 34,300,287.183
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Core Bond Index Fund Class I 30,353,716.127
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Core Bond Index Fund Class II 10,703,951.485
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500 Stock Index Fund Class I 10,709,187.602
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500 Stock Index Fund Class II 15,470,867.227
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Broad Market Index Fund Class I 30,079,291.720
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Broad Market Index Fund Class II 25,914,689.067
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Mid/Small Co. Index Fund Class I 2,930,731.591
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Mid/Small Co. Index Fund Class II 2,756,886.607
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Overseas Equity Index Fund Class I 4,134,741.129
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Overseas Equity Index Fund Class II 1,053,731.027
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Savings Oriented Fund 5,175,777.410
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Conservative Growth Fund 10,896,687.244
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Traditional Growth Fund 22,794,142.676
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Long-Term Growth Fund 21,948,700.382
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All Equity Growth Fund 1,332,006.043
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The proposed amendment to the Agreement and Declaration of Trust to
create staggered terms of service for the Board of Directors is not a matter on
which any series or class of the Fund would be entitled to vote separately under
Section 18(f) of the Investment Company Act of 1940 or the rules thereunder.
BENEFICIAL OWNERSHIP
The following table sets forth information with respect to (i) any
person or "group" known to the Company to be the beneficial owner, as of
September 26, 2001, of more than five percent (5%) of the outstanding shares of
each portfolio of the Fund, and (ii) all Directors and Executive Officers of the
Company, individually and as a group.
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Amount and Percentage
Name and Address of Nature of of
Fund Beneficial Owner Ownership Ownership
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Money Market Fund VantageTrust 75,406,101.050 63.5%
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U.S. Treasury Securities Fund VantageTrust 8,138,508.485 63.1%
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Asset Allocation Fund VantageTrust 71,961,348.920 76.7%
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Equity Income Fund VantageTrust 38,995,666.832 53.1%
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Growth & Income Fund VantageTrust 11,551,048.220 28.4%
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Growth Fund VantageTrust 209,777,765.249 68.2%
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Aggressive Opportunities Fund VantageTrust 44,262,611.824 56.9%
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International Fund VantageTrust 12,942,866.450 37.7%
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Core Bond Index Fund Class I VantageTrust 12,517,349.509 41.2%
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Core Bond Index Fund Class II VantageTrust 4,356,722.118 40.7%
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500 Stock Index Fund Class I VantageTrust 10,210,132.274 95.3%
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500 Stock Index Fund Class II VantageTrust 4,695,231.888 30.3%
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Broad Market Index Fund Class I VantageTrust 29,139,699.092 96.9%
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Broad Market Index Fund Class II VantageTrust 11,276,050.838 43.5%
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Mid/Small Co. Index Fund Class I VantageTrust 2,816,517.772 96.1%
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Mid/Small Co. Index Fund Class II VantageTrust 1,190,730.062 43.2%
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Overseas Equity Index Fund Class I VantageTrust 1,044,104.534 25.3%
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Overseas Equity Index Fund Class II VantageTrust 439,185.985 41.7%
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Savings Oriented Fund VantageTrust 2,908,982.900 56.2%
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Conservative Growth Fund VantageTrust 7,214,168.326 66.2%
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Traditional Growth Fund VantageTrust 15,818,185.911 69.4%
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Long-Term Growth Fund VantageTrust 16,016,500.259 73.0%
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All Equity Growth Fund VantageTrust 991,582.442 74.4%
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All executive officers and directors of the Fund as a group own less than 1% of
the total outstanding shares of the Fund.
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VOTE REQUIRED FOR APPROVAL
Article V, Section 3, of the Agreement and Declaration of Trust,
provides that except when a larger quorum is required by applicable law, the
By-Laws or the Agreement and Declaration of Trust, forty percent (40%) of the
shares entitled to vote shall constitute a quorum at a shareholder meeting.
Subject to the provisions of Article V, Section 3, when a quorum is present at
any meeting, a majority of the shares voted shall decide any question. In
addition, Article V, Section 4, provides that any action taken by shareholders
may be taken without a meeting if the holders of a majority of the shares
entitled to vote on the matter consent to the action in writing and such consent
is filed with the records of meetings of shareholders. Such consent shall be
treated for all purposes as a vote taken at a meeting of shareholders.
ADDITIONAL INFORMATION
Additional information concerning the Fund, including the annual and
semi-annual financial statements for the past fiscal year which have been filed
with the Securities and Exchange Commission, may be accessed through the
Securities and Exchange Commission's EDGAR archives at www.sec.gov. Upon written
request of any shareholder to the Fund at 777 North Capitol Street, N.E., Suite
600, Washington, DC 20002, a copy of the Fund's Annual Report for the fiscal
year ended December 31, 2001 or the semi-annual period ended June 30, 2001, will
be provided without charge.
Dated: October 1, 2001
By Order of the Board of Directors
/s/ Girard Miller
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Girard Miller, President and Chief
Executive Officer
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AMENDMENT NO. 2 TO THE
AGREEMENT AND DECLARATION OF TRUST OF
THE VANTAGEPOINT FUNDS
Article IV, Section 1 of the Agreement and Declaration of Trust of The
Vantagepoint Funds is hereby amended by replacing the section in its entirety
with the following:
Section 1. Number, Classes and Tenure. The number of Directors shall in no event
be less than one nor more than seven unless otherwise specified by resolution
approved at a duly constituted meeting of the Board of Directors or by a written
instrument signed by a majority of the Directors. Beginning on October 31, 2001,
or as soon thereafter as permitted under applicable law, the Board shall be
divided into three classes as follows:
1. CLASS 1 DIRECTORS. There shall be three Class 1 Directors who shall
serve an initial term that shall end in October 2004.
2. CLASS 2 DIRECTORS. There shall be three Class 2 Directors who shall
serve an initial term that shall end in October 2006.
3. SUBSEQUENT TERMS OF CLASS 1 DIRECTORS AND CLASS 2 DIRECTORS. Following
the expiration of the terms described above, the Class 1 and Class 2
Directors shall serve terms that will end on or around the fifth
anniversary of their commencement.
4. CLASS 3 DIRECTOR. There shall be one Class 3 Director who shall be a
Director of the ICMA Retirement Corporation ("RC") and who shall be
eligible to serve a 1-year term beginning on October 31, 2001, or as
soon thereafter as permitted under applicable law, and shall be eligible
for subsequent 1-year terms for as long as he or she shall serve as a
Director of RC.
Except in cases in which shareholder election is required, as provided in
Article IV, Section 2, immediately below, the Board of Directors may, by action
of a majority of the then Directors at a duly constituted meeting, elect
Directors and fill vacancies in the Board of Directors. Each Class 1 and Class 2
Director shall serve throughout his or her term or until he or she resigns or is
declared bankrupt or incompetent by a court of appropriate jurisdiction, or is
removed. The Class 3 Director shall serve throughout his or her term only so
long as he or she is a Director of RC or until he or she resigns or is declared
bankrupt by a court of appropriate jurisdiction, or is removed.
No Class 1 or Class 2 Director shall serve as such for more than twelve
consecutive years from October 31, 2001, and no Director shall serve a term
beginning after he or she has attained the age of 72.