Proposed Collection; Comment Request, 57160 [E8-22969]

Download as PDF 57160 Federal Register / Vol. 73, No. 191 / Wednesday, October 1, 2008 / Notices SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request jlentini on PROD1PC65 with NOTICES Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 498, File No. 270–435, OMB Control No. 3235–0488. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (‘‘Act’’) (44 U.S.C. 3501 et seq. ), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 498 of the Securities Act of 1933 (17 CFR 230.498) permits open-end management investment companies (or a series of an investment company organized as a series company, which offers one or more series of shares representing interests in separate investment portfolios) (‘‘funds’’) to provide investors with a ‘‘profile’’ that contains a summary of key information about a fund, including the fund’s investment objectives, strategies, risks and performance, and fees, in a standardized format. The profile provides investors the option of buying fund shares based on the information in the profile or reviewing the fund’s prospectus before making an investment decision. Investors purchasing shares based on a profile receive the fund’s prospectus prior to or with confirmation of their investment in the fund. Consistent with the filing requirement of a fund’s prospectus, a profile must be filed with the Commission thirty days before first use. Such a filing allows the Commission to review the profile for compliance with Rule 498. Compliance with the rule’s standardized format assists investors in evaluating and comparing funds. It is estimated that approximately 16 initial profiles and 274 updated profiles are filed with the Commission annually. The Commission estimates that each profile contains on average 1.25 portfolios, resulting in 20 portfolios filed annually on initial profiles and 343 portfolios filed annually on updated profiles. The number of burden hours for preparing and filing an initial profile per portfolio is 25. The number of burden hours for preparing and filing an updated profile per portfolio is 10. The total burden hours for preparing and filing initial and updated profiles under Rule 498 is 3,930, representing an increase of 749 hours from the prior estimate of 3,181. The increase in burden hours is attributable to the higher number of profiles actually prepared and filed as compared to the previous estimates. The estimates of average burden hours are made solely for the purposes of the Act and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. Written comments are invited on: (a) Whether the proposed collection of VerDate Aug<31>2005 18:22 Sep 30, 2008 Jkt 214001 information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden 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 Lewis W. Walker, Acting Director/CIO, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: September 24, 2008 Florence E. Harmon, Acting Secretary. [FR Doc. E8–22969 Filed 9–30–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 28407; 812–13531] Aberdeen Asset Management Inc., et al.; Notice of Application September 25, 2008. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from rule 12d1–2(a) under the Act. AGENCY: Applicants request an order to permit funds of funds relying on rule 12d1–2 under the Act to invest in certain financial instruments. APPLICANTS: Aberdeen Asset Management Inc. (the ‘‘Adviser’’), Aberdeen Funds (the ‘‘Trust’’) and Aberdeen Fund Distributors, LLC (the ‘‘Distributor’’). FILING DATES: The application was filed on May 8, 2008. Applicants have agreed to file an amendment during the notice period, the substance of which is reflected in this notice. HEARING OR NOTIFICATION OF HEARING: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on October 20, 2008, and should be accompanied by proof of SUMMARY OF APPLICATION: PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 service on applicants, 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 Commission’s Secretary. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090; Applicants, c/o Lucia Sitar, Aberdeen Asset Management Inc., 1735 Market Street, 37th Floor, Philadelphia, PA 19103. FOR FURTHER INFORMATION CONTACT: Steven I. Amchan, Attorney Adviser, at (202) 551–6826, or Janet M. Grossnickle, Assistant Director, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained for a fee at the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549–1520 (telephone (202) 551–5850). Applicants’ Representations 1. The Trust is organized as a Delaware statutory trust and is registered under the Act as an open-end management investment company. The Adviser is organized as a Delaware corporation and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Adviser serves as the investment adviser to each existing series of the Trust (together with future series of the Trust, the ‘‘Funds’’). The Distributor, a wholly-owned subsidiary of the Adviser, is organized as a Delaware limited liability company and is registered as a broker-dealer under the Securities Exchange Act of 1934, as amended (‘‘Exchange Act’’). The Distributor serves as the principal underwriter to each Fund. The Trust, the Funds, and all other existing or future open-end management investment companies and their series advised by the Adviser or any entity controlling, controlled by or under common control with the Adviser that are registered under the Act, and that are in the same group of investment companies, as defined in section 12(d)(1)(G) of the Act, as the Trust, collectively are referred to as the ‘‘Applicant Funds.’’ Applicants request the exemption to the extent necessary to permit any Applicant Fund that may invest in other Applicant Funds in reliance on Section 12(d)(1)(G) of the E:\FR\FM\01OCN1.SGM 01OCN1

Agencies

[Federal Register Volume 73, Number 191 (Wednesday, October 1, 2008)]
[Notices]
[Page 57160]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-22969]



[[Page 57160]]

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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

    Extension: Rule 498, File No. 270-435, OMB Control No. 3235-
0488.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``Act'') (44 U.S.C. 3501 et seq. ), the Securities and 
Exchange Commission (``Commission'') is soliciting comments on the 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget for extension and approval.
    Rule 498 of the Securities Act of 1933 (17 CFR 230.498) permits 
open-end management investment companies (or a series of an 
investment company organized as a series company, which offers one 
or more series of shares representing interests in separate 
investment portfolios) (``funds'') to provide investors with a 
``profile'' that contains a summary of key information about a fund, 
including the fund's investment objectives, strategies, risks and 
performance, and fees, in a standardized format. The profile 
provides investors the option of buying fund shares based on the 
information in the profile or reviewing the fund's prospectus before 
making an investment decision. Investors purchasing shares based on 
a profile receive the fund's prospectus prior to or with 
confirmation of their investment in the fund.
    Consistent with the filing requirement of a fund's prospectus, a 
profile must be filed with the Commission thirty days before first 
use. Such a filing allows the Commission to review the profile for 
compliance with Rule 498. Compliance with the rule's standardized 
format assists investors in evaluating and comparing funds.
    It is estimated that approximately 16 initial profiles and 274 
updated profiles are filed with the Commission annually. The 
Commission estimates that each profile contains on average 1.25 
portfolios, resulting in 20 portfolios filed annually on initial 
profiles and 343 portfolios filed annually on updated profiles. The 
number of burden hours for preparing and filing an initial profile 
per portfolio is 25. The number of burden hours for preparing and 
filing an updated profile per portfolio is 10. The total burden 
hours for preparing and filing initial and updated profiles under 
Rule 498 is 3,930, representing an increase of 749 hours from the 
prior estimate of 3,181. The increase in burden hours is 
attributable to the higher number of profiles actually prepared and 
filed as compared to the previous estimates.
    The estimates of average burden hours are made solely for the 
purposes of the Act and are not derived from a comprehensive or even 
representative survey or study of the cost of Commission rules and 
forms.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden 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 Lewis W. Walker, Acting 
Director/CIO, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an 
e-mail to: PRA_Mailbox@sec.gov.

    Dated: September 24, 2008
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-22969 Filed 9-30-08; 8:45 am]
BILLING CODE 8011-01-P
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