0001145549-22-015035.txt : 20220309 0001145549-22-015035.hdr.sgml : 20220309 20220309121014 ACCESSION NUMBER: 0001145549-22-015035 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220309 DATE AS OF CHANGE: 20220309 EFFECTIVENESS DATE: 20220309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TORRAY FUND CENTRAL INDEX KEY: 0000862696 IRS NUMBER: 521710083 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-06096 FILM NUMBER: 22724525 BUSINESS ADDRESS: STREET 1: 7501 WISCONSIN AVENUE STREET 2: SUITE 750W CITY: BETHESDA STATE: MD ZIP: 20814-6523 BUSINESS PHONE: 3014934600 MAIL ADDRESS: STREET 1: 7501 WISCONSIN AVENUE STREET 2: SUITE 750W CITY: BETHESDA STATE: MD ZIP: 20814-6523 0000862696 S000001452 THE TORRAY FUND C000003868 TORRAY FUND TORYX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000862696 XXXXXXXX true false false N-1A true Torray Fund 811-06096 0000862696 5493001OEZWV9DV8YF20 7501 Wisconsin Avenue Suite 750 West Bethesda 20814 US-MD US 13014934600 U.S. Bancorp Fund Services LLC 615 E. Michigan St. Milwaukee 53202 18336121912 Transfer agency fund accounting and fund administration data U.S. Bank National Association 1555 N. RiverCenterDrive Suite 302 Milwaukee 53212 18336121912 Custody data Foreside Funds Distributors LLC 400 Berwyn Park 899 Cassatt Road Berwyn 19312 12075537110 Distribution data Torray LLC 7501 Wisconsin Avenue Suite 750 West Bethesda 20814 13014934600 Advisor Data Bernstein Shur 100 Middle Street 6th Floor Portland 04104 12077741200 Minutes books and declaration of trust N N N N-1A 1 Y Carol T. Crawford N/A N Wayne H. Shaner N/A N William M Lane N/A Y Patrick J. Carolan N/A N Suzanne E. Kellogg 004966433 7501 Wisconsin Ave. Suite 750 West Bethesda 20814 XXXXXX N N N N N Foreside Funds Distributors LLC 8-32480 000031334 N/A N N BBD LLP 00552 N/A N N N N N N N The Torray Fund S000001452 549300WWWC18IQUO4D44 N 1 0 0 N/A N N N N N/A N/A N/A N/A Y Y N N Torray LLC 801-8629 000105818 N/A N U.S. Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Interncontinental Exchange Inc. 5493000F4ZO33MV32P92 N N U.S. Bank National Association 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N U.S. Bancorp Fund Services, LLC N1GZ7BBF3NP8GI976H15 N N U.S. Bancorp Fund Services LLC N1GZ7BBF3NP8GI976H15 N N N MORGAN STANLEY & CO. LLC 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 18248.000000000000 Strategas Securities LLC 8-68138 000149326 254900D5NQ2O9DJLKH96 18138.000000000000 EVERCORE GROUP LLC 8-49830 000042405 5493008F0LRLS5N8LZ81 14634.000000000000 WILLIAM BLAIR & COMPANY LLC 8-02698 000001252 N/A 14310.000000000000 Sanford C. Bernstein & Co. LLC 8-52942 000104474 549300I7JYZHT7D5CO04 10503.000000000000 Stifel Nicolaus & Co. Inc. 8-01447 000000793 5WUVMA08EYG4KEUPW589 9347.000000000000 85180.000000000000 0.000000000000 N 385675225.000000000000 N N N N true INTERNAL CONTROL RPT 2 torray.htm AUDIT INTERNAL CONTROL LETTER
 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees and the Shareholders of The Torray Fund
 
In planning and performing our audit of the financial statements of The Torray Fund (the “Fund”), as of December 31, 2021, and for the year then ended, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness, as defined above, as of December 31, 2021.

This report is intended solely for the information and use of management and the shareholders of The Torray Fund, the Board of Trustees of The Torray Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 
  /s/ BBD, LLP

BBD, LLP

Philadelphia, Pennsylvania
March 1, 2022