Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940, 77201-77203 [E5-8054]
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Federal Register / Vol. 70, No. 249 / Thursday, December 29, 2005 / Notices
wwhite on PROD1PC65 with NOTICES
estimates that on average each of 212
money market funds spends a total of
4.5 hours of director and legal time at
a total cost of approximately $916,370 to
review and amend written procedures
and guidelines each year.5 Finally, the
staff estimates that one money market
fund that experiences a change in
certain eligibility standards for portfolio
securities or an event of default or
insolvency relating to portfolio
securities spends a total of one and a
half hours of professional legal time (at
$109.97 per hour) documenting board
determinations and notifying the
Commission regarding the event, for a
total of $165. Thus, the Commission
estimates the total annual burden of the
rule’s information collection
requirements are 1,034,800 hours at an
annual cost of $80 million.6
Based on these estimates, Commission
staff estimates the total burden of the
rule’s paperwork requirements for
money market funds to be 1,034,800
hours.7 This is an increase from the
previous estimate of 480,830 hours. The
increase is attributable to updated
information from money market funds
regarding hourly burdens and the
significant differences in burden hours
reported by the funds selected at
random to be surveyed in different
submission years.
These estimates of burden hours are
made solely for the purposes of the
Paperwork Reduction Act. The
estimates are not derived from a
comprehensive or even a representative
survey or study of Commission rules.
estimate that fund boards’ hourly rate is $2000 per
hour. The estimated costs for professional and
support staff time were based on the average annual
salaries reported in the SIA Salary Guides. The
estimated costs for legal time was based on the
weighted average of associate general counsel
salaries reported in the SIA Salary Guides and New
York law firm attorney salaries (outside counsel)
based on a survey conducted by the National Law
Journal available at https://www.law.com/special/
professionals/nlj/2002/firm_by_firm_
sampling_of_billing_rates_nationwide.shtml.
5 For Paperwork Reduction Act (‘‘PRA’’) purposes
we assumed that on average 25% of money market
funds would review and update their procedures on
an annual basis.
6 A significant portion of the recordkeeping
burden involves organizing information that the
funds already collect when initially purchasing
securities. In addition, when a money market fund
analyzes a security, the analysis need not be
presented in any particular format. Money market
funds therefore have a choice of methods for
maintaining these records that vary in technical
sophistication and formality (e.g. handwritten
notes, computer disks, etc.). Accordingly, the cost
of preparing these documents may vary
significantly among individual funds. The burden
hours associated with filing reports to the
Commission as an exhibit to Form N-SAR are
included in the PRA burden estimate for that form.
7 This estimate is based on the following
calculation: ((847 × 1220) + (1 × 1.5) + (24 × 21)
+ (212 × 4.5) = 1,034,800.
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In addition to the burden hours,
Commission staff estimates that money
market funds will incur costs to
preserve records required under rule
2a–7. These costs will vary significantly
for individual funds, depending on the
amount of assets under fund
management and whether the fund
preserves its records in a storage facility
in hard copy or has developed and
maintains a computer system to create
and preserve compliance records.8
Commission staff estimates that the
amount an individual fund may spend
ranges from $100 per year to $300,000.
Based on a cost of $0.0000204 per dollar
of assets under management for small
fund, $0.0000005 per dollar assets
under management for medium funds,
and $0.0000046 per dollar of assets
under management for large funds,9 the
staff estimates compliance with rule 2a–
7 costs the fund industry approximately
$7.6 million per year.10 Based on
responses from individuals in the
money market fund industry, the staff
estimates that some of the largest fund
complexes have created computer
programs for maintaining and
preserving compliance records for rule
2a–7. Based on a cost of $0.0000231 per
dollar of assets under management for
large funds, the staff estimates that total
annualized capital/startup costs range
from $0 for small funds to $37.5 million
for all large funds. Commission staff
further estimates that, even absent the
requirements of rule 2a–7, money
market funds would spend at least half
of the amount for capital costs ($19
million) and for record preservation
($3.8 million) to establish and maintain
these records and the systems for
preserving them as a part of sound
business practices to ensure
diversification and minimal credit risk
8 The amount of assets under management in
individual money market funds ranges from
approximately $400,000 to $109 billion.
9 For purpose of this PRA submission,
Commission staff used the following categories for
fund sizes: (i) Small—money market funds with $50
million or less in assets under management, (ii)
medium—money market funds with more than $50
million up to and including $1 billion in assets
under management; and (iii) large—money market
funds with more than $1 billion in assets under
management.
10 The staff estimated the annual cost of
preserving the required books and records by
identifying the annual costs incurred by several
funds and then relating this total cost to the average
net assets of these funds during the year. With a
total of $2.2 billion under management in small
funds, $174.1 billion under management in medium
funds and $1623.8 billion under management in
large funds, the costs of preservation were
estimated as follows: ((0.0000204 × $2.2 billion) +
(0.0000005 × $174.1) + (0.0000046 × $1623.8
billion) = $7.6 million. See supra note 9 regarding
sizes of large, medium, and small funds.
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in a portfolio for a fund that seeks to
maintain a stable price per share.
The collections of information
required by rule 2a–7 are necessary to
obtain the benefits described above.
Notices to the Commission will not be
kept confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid control number.
Written comments are requested on:
(a) Whether the collections of
information are necessary for the proper
performance of the functions of the
Commission, including whether the
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burdens of the collection of
information; (c) ways to enhance the
quality, utility and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to R. Corey Booth, Director/Chief
Information Officer, Office of
Information Technology, Securities and
Exchange Commission, 100 F. Street,
NE., Washington, DC 20549.
Dated: December 20, 2005.
Jonathan G. Katz,
Secretary.
[FR Doc. E5–8065 Filed 12–28–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. IC–27195]
Notice of Applications for
Deregistration Under Section 8(f) of the
Investment Company Act of 1940
December 21, 2005.
The following is a notice of
applications for deregistration under
section 8(f) of the Investment Company
Act of 1940 for the month of December,
2005. A copy of each application may be
obtained for a fee at the SEC’s Public
Reference Branch (tel. 202–551–5850).
An order granting each application will
be issued unless the SEC orders a
hearing. Interested persons may request
a hearing on any application by writing
to the SEC’s Secretary at the address
below and serving the relevant
applicant with a copy of the request,
personally or by mail. Hearing requests
should be received by the SEC by 5:30
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Federal Register / Vol. 70, No. 249 / Thursday, December 29, 2005 / Notices
p.m. on January 17, 2006, and should be
accompanied by proof of service on the
applicant, in the form of an affidavit or,
for lawyers, a certificate of service.
Hearing requests should state the nature
of the writer’s interest, the reason for the
request and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Secretary, U.S. Securities
and Exchange Commission, 100 F
Street, NE., Washington, DC 20549–
9303. For Further Information Contact:
Diane L. Titus at (202) 551–6810, SEC,
Division of Investment Management,
Office of Investment Company
Regulation, 100 F Street, NE.,
Washington, DC 20549–0504.
Amerindo Funds Inc.
[File No. 811–7531]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On October 24,
2005, applicant transferred its assets to
Munder Internet Fund, a series of
Munder Series Trust, based on net asset
value. Expenses of $133,000 incurred in
connection with the reorganization were
paid by applicant and Munder Capital
Management, applicant’s investment
adviser.
Filing Dates: The application was
filed on November 23, 2005, and
amended on December 14, 2005.
Applicant’s Address: 599 Lexington
Ave., New York, NY 10022.
Scudder Floating Rate Fund
[File No. 811–9269]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On December 20,
2002, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of $146,339
incurred in connection with the
liquidation were paid by Deutsche
Investment Management Americas, Inc.,
applicant’s investment adviser.
Filing Date: The application was filed
on November 29, 2005.
Applicant’s Address: 222 South
Riverside Plaza, Chicago, IL 60606.
Scudder International Research Fund,
Inc.
wwhite on PROD1PC65 with NOTICES
[File No. 811–8395]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On May 17, 2002,
applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of $7,055
incurred in connection with the
liquidation were pay by Deutsche
Investment Management Americas, Inc.,
applicant’s investment adviser.
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Filing Date: The application was filed
on November 29, 2005.
Applicant’s Address: 222 South
Riverside Plaza, Chicago, IL 60606.
Star Lane Trust
[File No. 811–9795]
Summary: Applicant, a unit
investment trust, seeks an order
declaring that it has ceased to be an
investment company. On September 30,
2005, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Applicant incurred
no expenses in connection with the
liquidation.
Filing Date: The application was filed
on November 18, 2005.
Applicant’s Address: 11901 Olive
Blvd., St. Louis, MO 63141.
Strong High-Yield Municipal Bond
Fund, Inc.
The Brazilian Equity Fund, Inc.
[File No. 811–6555]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On November 14,
2005, applicant made a final liquidating
distribution to its shareholders, based
on net asset value. Applicant had paid
$66,000 in expenses in connection with
the liquidation. Applicant has retained
$19,463 in cash to pay certain
additional accrued expenses.
Filing Dates: The application was
filed on November 1, 2005, and
amended on November 23, 2005.
Applicant’s Address: c/o Credit
Suisse Asset Management, LLC, 466
Lexington Ave., 16th Floor, New York,
NY 10017.
BBH Common Settlement Fund II, Inc.
[File No. 811–7930]
[File No. 811–10421]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On December 29,
2004, applicant’s Investor Class shares
were redeemed for cash based on net
asset value. On December 31, 2004,
applicant’s SCM Class shares were
redeemed in-kind based on net asset
value. Strong Capital Management, Inc.
(‘‘SCM’’), applicant’s investment
adviser, has agreed to distribute any
gains arising from the subsequent sale of
the securities it received in the in-kind
redemption of all shares of the SCM
Class to Investor Class shareholders as
of the liquidation date. Expenses of
approximately $926,962 incurred in
connection with the liquidation were
paid by Strong Financial Corporation,
the parent of SCM. Certain contingent
rights, claims and liabilities of applicant
relating to shareholder class actions and
derivative actions involving late trading
and market timing allegations were
transferred to a liquidating trust for the
benefit of applicant’s former
shareholders. Upon resolution of these
claims by the liquidating trust, the
trustees will distribute any net proceeds
to former shareholders in a manner
consistent with applicable law and the
fiduciary duties of the trustees. In
addition, applicant’s former
shareholders may be entitled to certain
amounts paid pursuant to regulatory
settlements of market-timing and related
investigations. An independent
distribution consultant was retained by
SCM to oversee the distribution of these
amounts to shareholders.
Filing Dates: The application was
filed on April 21, 2005, and amended on
October 24, 2005.
Applicant’s Address: 100 Heritage
Reserve, Menomonee Falls, WI 53051.
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. By March 28,
2005, all shareholders of applicant had
voluntarily redeemed their shares, based
on net asset value. Applicant incurred
no expenses in connection with the
liquidation.
Filing Dates: The application was
filed on August 19, 2005, and amended
on November 23, 2005.
Applicant’s Address: 40 Water St.,
Boston, MA 02109.
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Pictet Funds
[File No. 811–9050]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On September 15,
2004, applicant transferred its assets to
Forward Global Emerging Markets
Fund, a series of Forward Funds, Inc.,
based on net asset value. Expenses of
$66,348 incurred in connection with the
reorganization were paid by Forward
Management, LLC, investment adviser
to the acquiring fund.
Filing Dates: The application was
filed on September 12, 2005, and
amended on November 18, 2005.
Applicant’s Address: c/o PFPC, Inc.,
760 Moore Rd., King of Prussia, PA
19406.
Bankers Life Insurance Company of
New York Separate Account 1
[File No. 811–8725]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. Applicant
requests deregistration based on
abandonment of registration. At the time
of filing, Applicant had no shareholders
or contractholders.
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Federal Register / Vol. 70, No. 249 / Thursday, December 29, 2005 / Notices
Filing Date: The application was filed
on November 22, 2005.
Applicant’s Address: 65 Froehlich
Farm Blvd., Woodbury, NY 11797.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. E5–8054 Filed 12–28–05; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[File No. 1–09700]
Issuer Delisting; Notice of Application
of The Charles Schwab Corporation To
Withdraw Its Common Stock, $.01 Par
Value, From Listing and Registration
on the New York Stock Exchange, Inc.
December 22, 2005.
wwhite on PROD1PC65 with NOTICES
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/delist.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include the
File Number 1–09700 or;
BILLING CODE 8010–01–P
On December 16, 2005, The Charles
Schwab Corporation, a Delaware
corporation (‘‘Issuer’’), filed an
application with the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Section 12(d) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 12d2–2(d)
thereunder,2 to withdraw its common
stock, $.01 par value (‘‘Security’’), from
listing and registration on the New York
Stock Exchange, Inc. (‘‘NYSE’’).
On December 9, 2005, the Board of
Directors (‘‘Board’’) of the Issuer
unanimously approved a resolution to
withdraw the Security from listing and
registration on NYSE and to continue to
list the Security on the Nasdaq National
Market (‘‘Nasdaq’’). The Issuer stated
that it has determined that Nasdaq’s
electronic trading platform is the
preferred marketplace for investors
trading the Security.
The Issuer stated that it has complied
with the requirements of NYSE’s rules
governing an issuer’s voluntary
withdrawal of a security from listing
and registration by obtaining approval
from the Board and by providing NYSE
with a copy of the Board resolution
prior to filing the application.
The Issuer’s application relates solely
to the withdrawal of the Security from
listing on NYSE and from registration
under Section 12(b) of the Act,3 and
shall not affect its obligation to be
registered under Section 12(g) of the
Act.4
Any interested person may, on or
before January 17, 2006, comment on
U.S.C. 78l(d).
CFR 240.12d2–2(d).
3 15 U.S.C. 78l(b).
4 15 U.S.C. 78l(g).
the facts bearing upon whether the
application has been made in
accordance with the rules of NYSE, and
what terms, if any, should be imposed
by the Commission for the protection of
investors. All comment letters may be
submitted by either of the following
methods:
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
Number 1–09700. This file number
should be included on the subject line
if e-mail is used. To help us process and
review your comments more efficiently,
please use only one method. The
Commission will post all comments on
the Commission’s Internet Web site
(https://www.sec.gov/rules/delist.shtml).
Comments are also available for public
inspection and copying in the
Commission’s Public Reference Room.
All comments received will be posted
without change; we do not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly.
The Commission, based on the
information submitted to it, will issue
an order granting the application after
the date mentioned above, unless the
Commission determines to order a
hearing on the matter.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.5
Jonathan G. Katz,
Secretary.
[FR Doc. E5–8049 Filed 12–28–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[File No. 1–07616]
Issuer Delisting; Notice of Application
of Pioneer Kabushiki Kaisha (English
Translation, Pioneer Corporation) To
Withdraw Its Common Stock (Each
Represented by One American
Depositary Share), From Listing and
Registration on the New York Stock
Exchange, Inc.
December 22, 2005.
On December 13, 2005, Pioneer
Kabushiki Kaisha (English translation,
Pioneer Corporation), a company
incorporated under the laws of Japan
(‘‘Issuer’’), filed an application with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
12(d) of the Securities Exchange Act of
1934 (‘‘Act’’) 1 and Rule 12d2–2(d)
thereunder,2 to withdraw its common
stock (each represented by one
American Depositary Share)
(‘‘Security’’), from listing and
registration on the New York Stock
Exchange, Inc. (‘‘NYSE’’).
On December 8, 2005, the Board of
Directors (‘‘Board’’) of the Issuer
approved a resolution to withdraw the
Security from listing and registration on
the NYSE. The Issuer stated that the
Board decided to withdraw the Security
from listing on NYSE as part of a global
restructuring of the Issuer’s operations
which includes, among other initiatives,
maintaining the listing of the Security
solely on the Tokyo Stock Exchange.
The Issuer stated that the Security will
continue to list on the Tokyo Stock
Exchange, its principal trading market.
The Issuer stated in its application
that it has complied with the NYSE’s
rules governing an issuer’s voluntary
withdrawal of a security from listing
and registration by complying with all
applicable laws in effect in Japan, and
by providing the NYSE with the
required documents governing the
removal of securities from listing and
registration on the NYSE.
The Issuer’s application relates solely
to the withdrawal of the Security from
listing on NYSE and from registration
under Section 12(b) of the Act,3 and
shall not affect its obligation to be
registered under Section 12(g) of the
Act.4
Any interested person may, on or
before January 17, 2006, comment on
the facts bearing upon whether the
application has been made in
1 15
1 15
2 17
2 17
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U.S.C. 78l(d).
CFR 240.12d2–2(d).
3 15 U.S.C. 78l(b).
4 15 U.S.C. 78l(g).
CFR 200.30–3(a)(1).
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]]>Agencies
[Federal Register Volume 70, Number 249 (Thursday, December 29, 2005)]
[Notices]
[Pages 77201-77203]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-8054]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. IC-27195]
Notice of Applications for Deregistration Under Section 8(f) of
the Investment Company Act of 1940
December 21, 2005.
The following is a notice of applications for deregistration under
section 8(f) of the Investment Company Act of 1940 for the month of
December, 2005. A copy of each application may be obtained for a fee at
the SEC's Public Reference Branch (tel. 202-551-5850). An order
granting each application will be issued unless the SEC orders a
hearing. Interested persons may request a hearing on any application by
writing to the SEC's Secretary at the address below and serving the
relevant applicant with a copy of the request, personally or by mail.
Hearing requests should be received by the SEC by 5:30
[[Page 77202]]
p.m. on January 17, 2006, and should be accompanied by proof of service
on the applicant, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request and the issues contested.
Persons who wish to be notified of a hearing may request notification
by writing to the Secretary, U.S. Securities and Exchange Commission,
100 F Street, NE., Washington, DC 20549-9303. For Further Information
Contact: Diane L. Titus at (202) 551-6810, SEC, Division of Investment
Management, Office of Investment Company Regulation, 100 F Street, NE.,
Washington, DC 20549-0504.
Amerindo Funds Inc.
[File No. 811-7531]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On October 24, 2005, applicant transferred
its assets to Munder Internet Fund, a series of Munder Series Trust,
based on net asset value. Expenses of $133,000 incurred in connection
with the reorganization were paid by applicant and Munder Capital
Management, applicant's investment adviser.
Filing Dates: The application was filed on November 23, 2005, and
amended on December 14, 2005.
Applicant's Address: 599 Lexington Ave., New York, NY 10022.
Scudder Floating Rate Fund
[File No. 811-9269]
Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. On December
20, 2002, applicant made a liquidating distribution to its
shareholders, based on net asset value. Expenses of $146,339 incurred
in connection with the liquidation were paid by Deutsche Investment
Management Americas, Inc., applicant's investment adviser.
Filing Date: The application was filed on November 29, 2005.
Applicant's Address: 222 South Riverside Plaza, Chicago, IL 60606.
Scudder International Research Fund, Inc.
[File No. 811-8395]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On May 17, 2002, applicant made a liquidating
distribution to its shareholders, based on net asset value. Expenses of
$7,055 incurred in connection with the liquidation were pay by Deutsche
Investment Management Americas, Inc., applicant's investment adviser.
Filing Date: The application was filed on November 29, 2005.
Applicant's Address: 222 South Riverside Plaza, Chicago, IL 60606.
Star Lane Trust
[File No. 811-9795]
Summary: Applicant, a unit investment trust, seeks an order
declaring that it has ceased to be an investment company. On September
30, 2005, applicant made a liquidating distribution to its
shareholders, based on net asset value. Applicant incurred no expenses
in connection with the liquidation.
Filing Date: The application was filed on November 18, 2005.
Applicant's Address: 11901 Olive Blvd., St. Louis, MO 63141.
Strong High-Yield Municipal Bond Fund, Inc.
[File No. 811-7930]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On December 29, 2004, applicant's Investor
Class shares were redeemed for cash based on net asset value. On
December 31, 2004, applicant's SCM Class shares were redeemed in-kind
based on net asset value. Strong Capital Management, Inc. (``SCM''),
applicant's investment adviser, has agreed to distribute any gains
arising from the subsequent sale of the securities it received in the
in-kind redemption of all shares of the SCM Class to Investor Class
shareholders as of the liquidation date. Expenses of approximately
$926,962 incurred in connection with the liquidation were paid by
Strong Financial Corporation, the parent of SCM. Certain contingent
rights, claims and liabilities of applicant relating to shareholder
class actions and derivative actions involving late trading and market
timing allegations were transferred to a liquidating trust for the
benefit of applicant's former shareholders. Upon resolution of these
claims by the liquidating trust, the trustees will distribute any net
proceeds to former shareholders in a manner consistent with applicable
law and the fiduciary duties of the trustees. In addition, applicant's
former shareholders may be entitled to certain amounts paid pursuant to
regulatory settlements of market-timing and related investigations. An
independent distribution consultant was retained by SCM to oversee the
distribution of these amounts to shareholders.
Filing Dates: The application was filed on April 21, 2005, and
amended on October 24, 2005.
Applicant's Address: 100 Heritage Reserve, Menomonee Falls, WI
53051.
The Brazilian Equity Fund, Inc.
[File No. 811-6555]
Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. On November
14, 2005, applicant made a final liquidating distribution to its
shareholders, based on net asset value. Applicant had paid $66,000 in
expenses in connection with the liquidation. Applicant has retained
$19,463 in cash to pay certain additional accrued expenses.
Filing Dates: The application was filed on November 1, 2005, and
amended on November 23, 2005.
Applicant's Address: c/o Credit Suisse Asset Management, LLC, 466
Lexington Ave., 16th Floor, New York, NY 10017.
BBH Common Settlement Fund II, Inc.
[File No. 811-10421]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. By March 28, 2005, all shareholders of
applicant had voluntarily redeemed their shares, based on net asset
value. Applicant incurred no expenses in connection with the
liquidation.
Filing Dates: The application was filed on August 19, 2005, and
amended on November 23, 2005.
Applicant's Address: 40 Water St., Boston, MA 02109.
Pictet Funds
[File No. 811-9050]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On September 15, 2004, applicant transferred
its assets to Forward Global Emerging Markets Fund, a series of Forward
Funds, Inc., based on net asset value. Expenses of $66,348 incurred in
connection with the reorganization were paid by Forward Management,
LLC, investment adviser to the acquiring fund.
Filing Dates: The application was filed on September 12, 2005, and
amended on November 18, 2005.
Applicant's Address: c/o PFPC, Inc., 760 Moore Rd., King of
Prussia, PA 19406.
Bankers Life Insurance Company of New York Separate Account 1
[File No. 811-8725]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. Applicant requests deregistration based on
abandonment of registration. At the time of filing, Applicant had no
shareholders or contractholders.
[[Page 77203]]
Filing Date: The application was filed on November 22, 2005.
Applicant's Address: 65 Froehlich Farm Blvd., Woodbury, NY 11797.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. E5-8054 Filed 12-28-05; 8:45 am]
BILLING CODE 8010-01-P
