As filed with the Securities and Exchange Commission on October 15, 2012.
1933 Act File No. 333-141345
1940 Act File No. 811-22037
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |
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Pre-Effective Amendment No. |
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Post-Effective Amendment No. 11 |
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and/or | ||
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 |
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Amendment No. 13 |
x |
(Check appropriate box or boxes)
Stone Harbor Investment Funds
(Exact Name of Registrant as Specified in Charter)
31 West 52nd Street, 16th Floor
New York, NY 10019
(Address of Principal Executive Offices)
(Zip Code)
Registrants Telephone Number, Including Area Code: (212) 548-1022
Adam J. Shapiro, Esq.
c/o Stone Harbor Investment Partners LP
31 West 52nd Street, 16th Floor
New York, NY 10019
(Name and Address of Agent for Service)
With copies to:
John M. Loder
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, MA 02199-3600
It is proposed that this filing will become effective (check appropriate box):
x immediately upon filing pursuant to paragraph (b)
¨on (date) pursuant to paragraph (b)
¨ 60 days after filing pursuant to paragraph (a)(1)
¨ on (date) pursuant to paragraph (a)(1)
¨ 75 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.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended (the Securities Act), and the Investment Company Act of 1940, as amended (the 1940 Act), the Registrant, Stone Harbor Investment Funds, certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 11 under the Securities Act and Amendment No. 13 under the 1940 Act to be signed on its behalf by the undersigned, duly authorized, in the City of New York and State of New York on the 15th day of October, 2012.
STONE HARBOR INVESTMENT FUNDS (Registrant) |
By: /s/ Peter J. Wilby |
Peter J. Wilby President |
Pursuant to the requirements of the Securities Act, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities indicated on the 14th day of October, 2011.
SIGNATURE |
TITLE |
DATE |
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/s/ Peter J. Wilby |
President | October 15, 2012 | ||||
/s/ James J. Dooley* |
Chief Financial Officer | October 15, 2012 | ||||
/s/ Alan Brott* |
Trustee | October 15, 2012 | ||||
/s/ Heath B. McLendon* |
Trustee | October 15, 2012 | ||||
/s/ Thomas W. Brock* |
Trustee | October 15, 2012 | ||||
/s/ Patrick Sheehan* |
Trustee | October 15, 2012 |
* By: /s/ Adam J. Shapiro |
Attorney-In-Fact October 15, 2012 |
EXHIBIT INDEX
Index No. | Description of Exhibit | |
EX-101.INS | XBRL Instance Document | |
EX-101.SCH | XBRL Taxonomy Extension Schema Document | |
EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |
EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase | |
EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase | |
EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
Stone Harbor High Yield Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||
Stone Harbor High Yield Bond Fund FUND SUMMARY |
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INVESTMENT OBJECTIVE | ||||||||||||||||||||||||||||||||||||||||||||||
The Fund seeks to maximize total return, which consists of income on its investments and capital appreciation. | ||||||||||||||||||||||||||||||||||||||||||||||
FEES AND EXPENSES OF THE FUND | ||||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. | ||||||||||||||||||||||||||||||||||||||||||||||
Shareholder Fees (Fees Paid Directly From Your Investment) | ||||||||||||||||||||||||||||||||||||||||||||||
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Annual Fund Operating Expenses (Expenses That You Pay Each Year as a Percentage of the Value of Your Investment) | ||||||||||||||||||||||||||||||||||||||||||||||
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Example | ||||||||||||||||||||||||||||||||||||||||||||||
This example helps you compare the costs 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. After one year, the example does not take into consideration the Adviser’s current agreement to waive fees. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 46% of the average value of its portfolio. | ||||||||||||||||||||||||||||||||||||||||||||||
PRINCIPAL INVESTMENT STRATEGIES OF THE FUND | ||||||||||||||||||||||||||||||||||||||||||||||
The Fund will normally invest at least 80% of its net assets (plus any borrowings made for investment purposes) in High Yield Debt Securities. “High Yield Debt Securities” include fixed income securities and derivative instruments (including, but not limited to, spot and currency contracts, futures, options and swaps) rated below investment grade (or, if unrated, of comparable quality as determined by Stone Harbor Investment Partners LP, the Fund’s investment adviser (the “Adviser”)). These types of securities and instruments are commonly referred to as “high yield” securities or “junk bonds” and may include, among other things, bonds, debentures, notes, equipment trust certificates, commercial paper, commercial loans, preferred stock and other obligations of U.S. and non-U.S. issuers. High Yield Debt Securities also include securities or other instruments whose return is based on the return of high yield securities, including derivative instruments and instruments created to hedge or gain exposure to the high yield markets. The Fund may invest in High Yield Debt Securities of any credit rating (including unrated securities). The Fund’s investments may include, among other things, asset-backed securities, depositary receipts, mortgage-related securities (including transferable private issuer mortgage-backed securities), non-publicly traded securities, payment-in-kind bonds, securities issued by supranational organizations, structured notes, convertible securities, inflation-protected and other index-linked securities, interest-only securities, step-up securities and zero coupon bonds. Although the Fund is not limited in the types of derivatives it can use, the Fund currently expects that its derivatives investments will consist primarily of the following instruments and transactions: futures, options, swaps, credit linked notes and credit default swaps. The Fund may use derivatives to a significant extent. The Fund seeks capital appreciation through industry selection, sector selection and security selection. Maturity and Duration. The Adviser normally maintains an average portfolio duration of between 3 and 7 years. However, the Fund’s average duration may be outside this range, and the Fund may invest in securities of any duration and maturity. |
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PRINCIPAL RISKS OF INVESTING IN THE FUND | ||||||||||||||||||||||||||||||||||||||||||||||
The following is a description of the principal risks of the Fund’s portfolio, which may adversely affect its net asset value, yield and total return. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. As with any mutual fund, there is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund.
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PERFORMANCE INFORMATION | ||||||||||||||||||||||||||||||||||||||||||||||
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund’s performance from year to year for Institutional Class shares. The table shows how the Fund’s performance for the periods indicated compared with a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. | ||||||||||||||||||||||||||||||||||||||||||||||
Institutional Share Class Annual Returns | ||||||||||||||||||||||||||||||||||||||||||||||
Best Quarter – Ended June 30, 2009 – 12.07% Worst Quarter – Ended December 31, 2008 – -13.85% The Fund’s Institutional Class calendar year-to-date return as of June 30, 2012 was 6.95%. |
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Average Annual Total Returns For the periods ended December 31, 2011 |
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Because Distributor Class shares were not outstanding during the periods shown, performance for that class is not shown. |