2019-03-01 false 3333333333 N-1A ~ http://i23004gd.com/20180531/role/ScheduleAnnualFundOperatingExpenses20205 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Investor_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member row primary compact * ~ ~ http://i23004gd.com/20180531/role/ScheduleExpenseExampleTransposed20206 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Investor_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member row primary compact * ~ ~ http://i23004gd.com/20180531/role/ScheduleAnnualTotalReturnsBarChart20207 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Investor_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member column rr_ProspectusShareClassAxis compact i23004gd_C012345673Member row primary compact * ~ ~ http://i23004gd.com/20180531/role/ScheduleAverageAnnualReturnsTransposed20208 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Investor_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ 0.0049 0.0069 0.0191 0.0298 0.0316 0.0183 0.0031 0.0000 0.0000 0.0000 2012-06-30 2017-12-31 ~ http://i23004gd.com/20180531/role/ScheduleAnnualFundOperatingExpenses20145 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Institutional_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member row primary compact * ~ ~ http://i23004gd.com/20180531/role/ScheduleExpenseExampleTransposed20146 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Institutional_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member row primary compact * ~ ~ http://i23004gd.com/20180531/role/ScheduleAnnualTotalReturnsBarChart20147 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Institutional_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member column rr_ProspectusShareClassAxis compact i23004gd_C012345672Member row primary compact * ~ ~ http://i23004gd.com/20180531/role/ScheduleAverageAnnualReturnsTransposed20148 column dei_DocumentInformationDocumentAxis compact i23004gd_doc_Institutional_Shares_ProspectusMember column dei_LegalEntityAxis compact i23004gd_S013456789Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ 0.0074 0.0094 0.0216 0.0324 0.0342 0.0208 0.0052 0.0014 0.0003 0.0000 2012-06-30 2017-12-31 3333333333 2019-03-01 2019-03-01 3333333333 i23004gd:doc_Institutional_Shares_ProspectusMember i23004gd:S013456789Member 2019-03-01 2019-03-01 3333333333 i23004gd:doc_Institutional_Shares_ProspectusMember i23004gd:S013456789Member i23004gd:C012345672Member 2019-03-01 2019-03-01 3333333333 i23004gd:doc_Investor_Shares_ProspectusMember i23004gd:S013456789Member 2019-03-01 2019-03-01 3333333333 i23004gd:doc_Investor_Shares_ProspectusMember i23004gd:S013456789Member i23004gd:C012345673Member 2019-03-01 2019-03-01 iso4217:USD xbrli:pure

497 1 i23004gd-20180531.htm POST-EFFECTIVE AMENDMENT NO. 99

File No33-9999

811-9999

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]

 Pre-Effective Amendment No.  [__]

 Post-Effective Amendment No. 99  [X]

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]

 Amendment No. 99  [X]

(Check appropriate box or boxes.)

OSD TEST CO #1 i23004gd

(Exact Name of Registrant as Specified in Charter)

c/o i23004gd Corporation

2000 Madison Avenue, New York, New York 10199

(Address of Principal Executive Offices) (Zip Code)

 Registrant's Telephone Number, including Area Code: (212) 555-1212

Anonymous Person, Esq.

2000 Madison Avenue, New York, New York 10199

New York, New York 10199

(Name and Address of Agent for Service)

It is proposed that this filing will become effective (check appropriate box)

 

 __ immediately upon filing pursuant to paragraph (b)

 on  June 1, 2013 pursuant to paragraph (b)

 ____ days after filing pursuant to paragraph (a)(1)

 __ on (date) pursuant to paragraph (a)(1)

 ____ days after filing pursuant to paragraph (a)(2)

 __ on (date) pursuant to paragraph (a)(2) of Rule 485

If appropriate, check the following box:

 __ this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

image001-20180531.jpg

Fund Summary -  

i23004gd New York AMT-Free Municipal Cash Management

Investment Objective

The fund seeks as high a level of current income exempt from federal, New York state and New York city personal income taxes as is consistent with the preservation of capital and the maintenance of liquidity.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.

 

 

 

Annual Fund Operating Expenses  (expenses that you pay each year as a percentage of the value of your investment)

 

 

Institutional Shares

Management fees

.20

Other expenses (including shareholder services fees)

.14

Total annual fund operating expenses

.34

Example

The Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

 

 

 

 

 

 

1 Year

3 Years

5 Years

10 Years

Institutional Shares

$35

$109

$191

$431

Principal Investment Strategy

As a money market fund, the fund is subject to the maturity, quality, liquidity and diversification requirements of Rule 2a-7 under the Investment Company Act of 1940, as amended, which are designed to help money market funds maintain a stable share price of $1.00. To pursue its goal, the fund normally invests substantially all of its net assets in short-term, high quality municipal obligations that provide income exempt from federal, New York state and New York city income taxes. The fund does not invest in municipal obligations that pay interest subject to the federal alternative minimum tax. The fund also may invest in high quality, short-term structured notes, which are derivative instruments whose value is tied to underlying municipal obligations.

Although the fund seeks to provide income exempt from federal, New York state and New York city personal income taxes, the fund may invest temporarily in high quality, taxable money market instruments and/or municipal obligations that pay income exempt only from federal income tax, including when the portfolio manager believes that acceptable New York municipal obligations are unavailable for investment.

Principal Risks

Performance

The following bar chart and table provide some indication of the risks of investing in the fund. The bar chart shows changes in the performance of the fund's Institutional shares from year to year. The table shows the average annual total returns of the fund's Institutional shares over time. The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future. More recent performance information may be available at  www.i23004gd.com .

 

 

Year-by-Year Total Returns  as of 12/31 each year (%)*

 

image030-20180531.jpg

 

Best Quarter

Q2, 2007: 0.87%

Worst Quarter

Q4, 2012: 0.00%

The year-to-date total return of the fund's Institutional shares as of 3/31/13 was 0.00%.  

 

 

 

 

Average Annual Total Returns as of 12/31/12 *

 

1 Year

5 Years

10 Years

Institutional Shares

0.00%

0.55%

1.32%

* The fund commenced operations after all of the assets of another investment company, Muestra New York AMT-Free Municipal Money Fund (the predecessor fund), were transferred to the fund in a tax-free reorganization on September 12, 2008. Total returns for periods prior to September 13, 2008 (the commencement of operations of Institutional shares) reflect the performance of the Institutional shares of the predecessor fund, and the performance of the fund’s Institutional shares since that date.

For the current yield for Institutional shares call toll-free 1-800-346-3621. Individuals or entities for whom institutions may purchase or redeem shares should call the institution directly.

Portfolio Management

The fund's investment adviser is The i23004gd Corporation.

Purchase and Sale of Fund Shares

The fund is designed for institutional investors. In general, the fund's minimum initial investment is $10,000,000. Certain types of accounts are eligible for lower minimum investments. You may sell (redeem) your shares on any business day by wire, telephone or compatible computer facility. Your shares will be sold at the next net asset value calculated after your order is received in proper form.

Tax Information

The fund anticipates that virtually all dividends paid by the fund will be exempt from federal, New York state and New York city personal income taxes. However, for federal tax purposes, certain distributions, such as distributions of short-term capital gains, are taxable as ordinary income, while long-term capital gains are taxable as capital gains.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares through a broker-dealer or other financial intermediary (such as a bank), the fund and its related companies may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.  

Fund Summary -  

i23004gd New York AMT-Free Municipal Cash Management

Investment Objective

The fund seeks as high a level of current income exempt from federal, New York state and New York city personal income taxes as is consistent with the preservation of capital and the maintenance of liquidity.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.

 

 

 

Annual Fund Operating Expenses  (expenses that you pay each year as a percentage of the value of your investment)

 

 

Investor Shares

Management fees

.20

Distribution and/or Service (Rule 12b-1) fees

.25

Other expenses

.14

Total annual fund operating expenses

.59

Example

The Example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

 

 

 

 

 

 

1 Year

3 Years

5 Years

10 Years

Investor Shares

$60

$189

$329

$738

Principal Investment Strategy

As a money market fund, the fund is subject to the maturity, quality, liquidity and diversification requirements of Rule 2a-7 under the Investment Company Act of 1940, as amended, which are designed to help money market funds maintain a stable share price of $1.00. To pursue its goal, the fund normally invests substantially all of its net assets in short-term, high quality municipal obligations that provide income exempt from federal, New York state and New York city income taxes. The fund does not invest in municipal obligations that pay interest subject to the federal alternative minimum tax. The fund also may invest in high quality, short-term structured notes, which are derivative instruments whose value is tied to underlying municipal obligations.

Although the fund seeks to provide income exempt from federal, New York state and New York city personal income taxes, the fund may invest temporarily in high quality, taxable money market instruments and/or municipal obligations that pay income exempt only from federal income tax, including when the portfolio manager believes that acceptable New York municipal obligations are unavailable for investment.

Principal Risks

Performance

The following bar chart and table provide some indication of the risks of investing in the fund. The bar chart shows changes in the performance of the fund's Investor shares from year to year. The table shows the average annual total returns of the fund's Investor shares over time. The fund's past performance (before and after taxes) is not necessarily an indication of how the fund will perform in the future. More recent performance information may be available at  www.i23004gd.com .  

 

 

Year-by-Year Total Returns  as of 12/31 each year (%)*

 

image040-20180531.jpg

Best Quarter

Q2, 2007: 0.81%

Worst Quarter

Q4, 2012: 0.00%

The year-to-date total return of the fund's Investor shares as of 3/31/13 was 0.00%.

 

 

 

 

Average Annual Total Returns as of 12/31/12 *

 

1 Year

5 Years

10 Years

Investor Shares

0.00%

0.43%

1.13%

* The fund commenced operations after all of the assets of another investment company, Muestra New York AMT-Free Municipal Money Fund (the predecessor fund), were transferred to the fund in a tax-free reorganization on September 12, 2008. Total returns for periods prior to September 13, 2008 (the commencement of operations of Investor shares) reflect the performance of the Premier shares of the predecessor fund, and the performance of the fund’s Investor shares since that date.

For the current yield for Investor shares call toll-free 1-800-555-1212. Individuals or entities for whom institutions may purchase or redeem shares should call the institution directly.

Portfolio Management

The fund's investment adviser is The i23004gd Corporation.

Purchase and Sale of Fund Shares

The fund is designed for institutional investors. In general, the fund's minimum initial investment is $10,000,000. Certain types of accounts are eligible for lower minimum investments. You may sell (redeem) your shares on any business day by wire, telephone or compatible computer facility. Your shares will be sold at the next net asset value calculated after your order is received in proper form.

Tax Information

The fund anticipates that virtually all dividends paid by the fund will be exempt from federal, New York state and New York city personal income taxes. However, for federal tax purposes, certain distributions, such as distributions of short-term capital gains, are taxable as ordinary income, while long-term capital gains are taxable as capital gains.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares through a broker-dealer or other financial intermediary (such as a bank), the fund and its related companies may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.