As filed with the Securities and Exchange Commission on April 26, 2006
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SCHEDULE 14A
(Rule 14a-101)
Information Required in Proxy Statement
Schedule 14A Information
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No. )
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|_| Preliminary Proxy Statement
|_| Confidential, For Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
|_| Definitive Proxy Statement
|X| Definitive Additional Materials
|_| Soliciting Material Under Rule 14a-12
CALIFORNIA INVESTMENT TRUST II
(Name of Registrant as Specified In Its Charter)
Not Applicable
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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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) Date Filed:
CALIFORNIA INVESTMENT TRUST II
EQUITY INCOME FUND
44 MONTGOMERY STREET, SUITE 2100
SAN FRANCISCO, CA 94104
April 27, 2006
Dear Shareholder:
The Schedule to Appendix B of the Proxy Statement contained an error in the
presentation of breakpoints in Trust II. A corrected Schedule is as follows.
Schedule A
FEE SCHEDULE
Each Fund shall pay to the Adviser, as full compensation for all specifically
identified administrative and investment management and advisory services
furnished or provided to that Fund, pursuant to the Investment Advisory
Agreement, a management fee based upon the Fund's average daily net assets at
the following per annum rates:
U.S. Government 0.50% of the value of the average daily net assets up to
Securities Fund and including assets of $100 million; plus 0.45% of the
average daily net assets over $100 million up to and
including $500 million; plus 0.40% of the average daily
net assets over $500 million.
The United States 0.50% of the value of the average daily net assets up to
Treasury Trust and including assets of $100 million; plus 0.45% of the
average daily net assets over $100 million up to and
including $500 million; plus 0.40% of the average daily
net assets over $500 million.
Short-Term U.S. 0.50% of the value of the average daily net assets up to
Government Bond and including assets of $500 million; plus 0.45% of the
Fund average daily net assets over $500 million up to and
including $1 billion; plus 0.40% of the average daily
net assets over $1 billion.
S&P 500 Index Fund 0.25% of the value of the average daily net assets.
S&P MidCap Index 0.40% of the value of the average daily net assets.
Fund
S&P SmallCap Index 0.50% of the value of the average daily net assets up to
Fund and including assets of $500 million; plus 0.45% of the
average daily net assets over $500 million up to and
including $1 billion; plus 0.40% of the average daily
net assets over $1 billion.
NASDAQ-100 Index 0.50% of the value of the average daily net assets up to
Fund and including assets of $500 million; plus 0.45% of the
average daily net assets over $500 million up to and
including $1 billion; plus 0.40% of the average daily
net assets over $1 billion.
European Growth & 0.85% of the value of the average daily net assets.
Income Fund
Equity Income Fund 0.50% of the value of the average daily net assets up to
and including assets of $500 million; plus 0.45% of the
average daily net assets over $500 million up to and
including $1 billion; plus 0.40% of the average daily
net assets over $1 billion.
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FEE LIMITATIONS
California Investment Trust Funds: To the extent that the gross operating costs
and expenses of each Fund (excluding any extraordinary expenses, such as
litigation) exceed 1.00% (or 1.50% for Class K shares) of that Fund's average
daily net asset value for any one fiscal year, the Adviser shall reimburse that
Fund for the amount of such excess expenses.