Monteagle Funds and Nashville Capital Corporation, 6183-6184 [2019-03311]

Download as PDF Federal Register / Vol. 84, No. 38 / Tuesday, February 26, 2019 / Notices documents related to this amendment are listed in the Safety Evaluation enclosed with the amendment. Renewed Facility Operating License No. DPR–60: The amendment revised the Renewed Facility Operating License and Technical Specifications. Public comments requested as to proposed no significant hazards consideration: No. The Commission’s related evaluation of the amendment, finding of emergency circumstances, State consultation, and final no significant hazards consideration determination are contained in a Safety Evaluation dated January 29, 2019. Attorney for licensee: Peter M. Glass, Assistant General Counsel, Xcel Energy Services, Inc., 414 Nicollet Mall, Minneapolis, MN 55401. NRC Branch Chief: David J. Wrona. Dated at Rockville, Maryland, this 15th day of February, 2019. For the Nuclear Regulatory Commission. Craig G. Erlanger, Director, Division of Operating Reactor Licensing, Office of Nuclear Reactor Regulation. [FR Doc. 2019–02934 Filed 2–25–19; 8:45 am] BILLING CODE 7590–01–P NUCLEAR REGULATORY COMMISSION [NRC–2019–0001] Sunshine Act Meetings Weeks of February 25, March 4, 11, 18, 25, April 1, 2019. TIME AND DATE: Commissioners’ Conference Room, 11555 Rockville Pike, Rockville, Maryland. PLACE: STATUS: Public and Closed. MATTERS TO BE CONSIDERED: Week of February 18, 2019 There are no meetings scheduled for the week of February 18, 2019. Week of February 25, 2019—Tentative There are no meetings scheduled for the week of February 25, 2019. Week of March 4, 2019—Tentative Tuesday, March 5, 2019 10:00 a.m. Briefing on NRC International Activities (Closed— Ex. 1 & 9) Week of March 11, 2019—Tentative There are no meetings scheduled for the week of March 11, 2019. VerDate Sep<11>2014 16:24 Feb 25, 2019 Jkt 247001 Week of March 18, 2019—Tentative Wednesday, March 20, 2019 10:00 a.m. Meeting with the Organization of Agreement States and the Conference of Radiation Control Program Directors (Public), (Contact: Paul Michalak: 301–415– 5804) This meeting will be webcast live at the Web address—https://www.nrc.gov/. Week of March 25, 2019—Tentative Thursday, March 28, 2019 9:00 a.m. Transformation at the NRC: Innovation (Public Meeting), (Contact: June Cai: 301–415–1771) This meeting will be webcast live at the Web address—https://www.nrc.gov/. 6183 Dated at Rockville, Maryland, this 21st day of February, 2019. For the Nuclear Regulatory Commission. Denise L. McGovern, Policy Coordinator, Office of the Secretary. [FR Doc. 2019–03337 Filed 2–22–19; 11:15 am] BILLING CODE 7590–01–P POSTAL SERVICE Temporary Emergency Committee of the Board of Governors; Sunshine Act Meeting Week of April 1, 2019—Tentative Monday, March 4, 2019, at 9:30 a.m. PLACE: Washington, DC. STATUS: Closed. MATTERS TO BE CONSIDERED: Thursday, April 4, 2019 Monday, March 4, 2019, at 9:30 a.m. 10:00 a.m. Meeting with the Advisory Committee on the Medical Uses of Isotopes (Public Meeting), (Contact: Kellee Jamerson: 301–415–7408) Additional Information: The meeting scheduled on March 28, 2019 at 9:00 a.m., Transformation at the NRC: Innovation, was postponed from the originally scheduled date of January 31, 2019. CONTACT PERSON FOR MORE INFORMATION: For more information or to verify the status of meetings, contact Denise McGovern at 301–415–0681 or via email at Denise.McGovern@nrc.gov. The schedule for Commission meetings is subject to change on short notice. The NRC Commission Meeting Schedule can be found on the internet at: https://www.nrc.gov/public-involve/ public-meetings/schedule.html. The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or need this meeting notice or the transcript or other information from the public meetings in another format (e.g., Braille, large print), please notify Kimberly Meyer-Chambers, NRC Disability Program Manager, at 301– 287–0739, by videophone at 240–428– 3217, or by email at Kimberly.MeyerChambers@nrc.gov. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. Members of the public may request to receive this information electronically. If you would like to be added to the distribution, please contact the Nuclear Regulatory Commission, Office of the Secretary, Washington, DC 20555, (301– 415–1969), or by email at Wendy.Moore@nrc.gov. PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 DATES AND TIMES: 1. Strategic Items. 2. Administrative Matters. GENERAL COUNSEL CERTIFICATION: The General Counsel of the United States Postal Service has certified that the meeting may be closed under the Government in the Sunshine Act. CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Acting Secretary of the Board, U.S. Postal Service, 475 L’Enfant Plaza SW, Washington, DC 20260–1000. Telephone: (202) 268– 4800. Michael J. Elston, Acting Secretary. [FR Doc. 2019–03460 Filed 2–22–19; 4:15 pm] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 33379; 812–14881] Monteagle Funds and Nashville Capital Corporation February 21, 2019. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice. AGENCY: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from section 15(a) of the Act and rule 18f–2 under the Act, as well as from certain disclosure requirements in rule 20a–1 under the Act, Item 19(a)(3) of Form N– 1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A under the Securities Exchange Act of 1934, and sections 6–07(2)(a), (b), and (c) of Regulation S–X (‘‘Disclosure Requirements’’). The requested E:\FR\FM\26FEN1.SGM 26FEN1 6184 Federal Register / Vol. 84, No. 38 / Tuesday, February 26, 2019 / Notices exemption would permit an investment adviser to hire and replace certain subadvisers without shareholder approval and grant relief from the Disclosure Requirements as they relate to fees paid to the subadvisers. Applicants: Monteagle Funds (the ‘‘Trust’’), a Delaware statutory trust registered under the Act as an open-end management investment company, and Nashville Capital Corporation (the ‘‘Adviser’’), a Tennessee corporation registered as an investment adviser under the Investment Advisers Act of 1940 (collectively with the Trust, the ‘‘Applicants’’). Filing Dates: The application was filed on February 27, 2018 and amended on June 11, 2018, October 23, 2018, and December 21, 2018. 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 March 18, 2019, and should be accompanied by proof of service on the Applicants, in the form of an affidavit or, for lawyers, a certificate of service. Pursuant to rule 0–5 under the Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, 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. Secretary, U.S. Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. Applicants: Monteagle Funds, 8000 Town Centre Drive, Suite 400, Broadview Heights, OH 44147; Nashville Capital Corporation, 2506 Winford Avenue, Nashville, TN 37211. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Zeena Abdul-Rahman, Senior Counsel, at (202) 551–4099, or Andrea Ottomanelli Magovern, Branch Chief, at (202) 551–6821 (Division of Investment Management, Chief Counsel’s Office). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission’s website by searching for the file number, or an applicant using the Company name box, at https:// www.sec.gov/search/search.htm or by calling (202) 551–8090. VerDate Sep<11>2014 16:24 Feb 25, 2019 Jkt 247001 Summary of the Application 1. The Adviser will serve as the investment adviser to the Funds pursuant to an investment advisory agreement with the Trust (the ‘‘Advisory Agreement’’).1 The Adviser will provide each Fund with overall investment management services and will continuously review, supervise and administer each Fund’s investment program, subject to the supervision of, and policies established by, each Fund’s board of trustees (‘‘Board’’). The Advisory Agreement permits the Adviser, subject to the approval of the Board, to delegate to one or more subadvisers (each, a ‘‘Subadviser’’ and collectively, the ‘‘Subadvisers’’) the responsibility to provide the day-to-day portfolio investment management of each Fund, subject to the supervision and direction of the Adviser.2 The primary responsibility for managing the Funds will remain vested in the Adviser. The Adviser will hire, evaluate, allocate assets to and oversee the Subadvisers, including determining whether a Subadviser should be terminated, at all times subject to the authority of the Board. 2. Applicants request an exemption to permit the Adviser, subject to Board approval, to hire certain Subadvisers pursuant to subadvisory agreements and materially amend existing subadvisory agreements without obtaining the shareholder approval required under section 15(a) of the Act and rule 18f–2 under the Act.3 Applicants also seek an exemption from the Disclosure Requirements to permit a Fund to disclose (as both a dollar amount and a percentage of the Fund’s net assets): (a) The aggregate fees paid to the Adviser and any Affiliated Subadviser; and (b) the aggregate fees paid to Subadvisers 1 Applicants request relief with respect to any existing or future series of the Trust or any other registered open-end management company that: (a) Is advised by the Adviser, or any person controlling, controlled by or under common control with the Adviser or its successors (each, an ‘‘Adviser’’); (b) uses the manager of managers structure described in the application; and (c) complies with the terms and conditions of the requested order (any such series, a ‘‘Fund’’ and collectively, the ‘‘Funds’’). For purposes of the requested order, ‘‘successor’’ is limited to an entity that results from a reorganization into another jurisdiction or a change in the type of business organization. 2 The Trust currently has six series. The Adviser has hired a Subadviser for each of these Funds in compliance with section 15(a) of the Act. 3 The requested relief will not extend to any Subadviser that is an affiliated person, as defined in section 2(a)(3) of the Act, of the Trust, a Fund, or the Adviser, other than solely by reason of serving as a Subadviser to one or more of the Funds, or as an adviser or subadviser to any series of the Trust other than the Funds (‘‘Affiliated Subadviser’’). PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 other than Affiliated Subadvisers. For any Fund that employs an Affiliated Subadviser, the Fund will provide separate disclosure of any fees paid to the Affiliated Subadviser. 3. Applicants agree that any order granting the requested relief will be subject to the terms and conditions stated in the application. Such terms and conditions provide for, among other safeguards, appropriate disclosure to Fund shareholders and notification about subadvisory changes and enhanced Board oversight to protect the interests of the Funds’ shareholders. 4. Section 6(c) of the Act provides that the Commission may exempt any person, security, or transaction or any class or classes of persons, securities, or transactions from any provisions of the Act, or any rule thereunder, if such relief is necessary or appropriate in the public interest and consistent with the protection of investors and purposes fairly intended by the policy and provisions of the Act. Applicants believe that the requested relief meets this standard because, as further explained in the application, the Advisory Agreements will remain subject to shareholder approval while the role of the Subadvisers is substantially similar to that of individual portfolio managers, so that requiring shareholder approval of subadvisory agreements would impose unnecessary delays and expenses on the Funds. Applicants believe that the requested relief from the Disclosure Requirements meets this standard because it will improve the Adviser’s ability to negotiate fees paid to the Subadvisers that are more advantageous for the Funds. For the Commission, by the Division of Investment Management, under delegated authority. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–03311 Filed 2–25–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 33380; 812–14954] Acquirers Funds, LLC, et al. February 21, 2019. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice. AGENCY: Notice of an application for an order under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) for an E:\FR\FM\26FEN1.SGM 26FEN1

Agencies

[Federal Register Volume 84, Number 38 (Tuesday, February 26, 2019)]
[Notices]
[Pages 6183-6184]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-03311]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 33379; 812-14881]


Monteagle Funds and Nashville Capital Corporation

February 21, 2019.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice.

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    Notice of an application under section 6(c) of the Investment 
Company Act of 1940 (``Act'') for an exemption from section 15(a) of 
the Act and rule 18f-2 under the Act, as well as from certain 
disclosure requirements in rule 20a-1 under the Act, Item 19(a)(3) of 
Form N-1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of 
Schedule 14A under the Securities Exchange Act of 1934, and sections 6-
07(2)(a), (b), and (c) of Regulation S-X (``Disclosure Requirements''). 
The requested

[[Page 6184]]

exemption would permit an investment adviser to hire and replace 
certain subadvisers without shareholder approval and grant relief from 
the Disclosure Requirements as they relate to fees paid to the 
subadvisers.
    Applicants: Monteagle Funds (the ``Trust''), a Delaware statutory 
trust registered under the Act as an open-end management investment 
company, and Nashville Capital Corporation (the ``Adviser''), a 
Tennessee corporation registered as an investment adviser under the 
Investment Advisers Act of 1940 (collectively with the Trust, the 
``Applicants'').
    Filing Dates: The application was filed on February 27, 2018 and 
amended on June 11, 2018, October 23, 2018, and December 21, 2018.
    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 March 18, 2019, and should be accompanied by proof of service on the 
Applicants, in the form of an affidavit or, for lawyers, a certificate 
of service. Pursuant to rule 0-5 under the Act, hearing requests should 
state the nature of the writer's interest, any facts bearing upon the 
desirability of a hearing on the matter, 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, U.S. Securities and Exchange Commission, 100 F 
Street NE, Washington, DC 20549-1090. Applicants: Monteagle Funds, 8000 
Town Centre Drive, Suite 400, Broadview Heights, OH 44147; Nashville 
Capital Corporation, 2506 Winford Avenue, Nashville, TN 37211.

FOR FURTHER INFORMATION CONTACT: Zeena Abdul-Rahman, Senior Counsel, at 
(202) 551-4099, or Andrea Ottomanelli Magovern, Branch Chief, at (202) 
551-6821 (Division of Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the 
application. The complete application may be obtained via the 
Commission's website by searching for the file number, or an applicant 
using the Company name box, at https://www.sec.gov/search/search.htm or 
by calling (202) 551-8090.

Summary of the Application

    1. The Adviser will serve as the investment adviser to the Funds 
pursuant to an investment advisory agreement with the Trust (the 
``Advisory Agreement'').\1\ The Adviser will provide each Fund with 
overall investment management services and will continuously review, 
supervise and administer each Fund's investment program, subject to the 
supervision of, and policies established by, each Fund's board of 
trustees (``Board''). The Advisory Agreement permits the Adviser, 
subject to the approval of the Board, to delegate to one or more 
subadvisers (each, a ``Subadviser'' and collectively, the 
``Subadvisers'') the responsibility to provide the day-to-day portfolio 
investment management of each Fund, subject to the supervision and 
direction of the Adviser.\2\ The primary responsibility for managing 
the Funds will remain vested in the Adviser. The Adviser will hire, 
evaluate, allocate assets to and oversee the Subadvisers, including 
determining whether a Subadviser should be terminated, at all times 
subject to the authority of the Board.
---------------------------------------------------------------------------

    \1\ Applicants request relief with respect to any existing or 
future series of the Trust or any other registered open-end 
management company that: (a) Is advised by the Adviser, or any 
person controlling, controlled by or under common control with the 
Adviser or its successors (each, an ``Adviser''); (b) uses the 
manager of managers structure described in the application; and (c) 
complies with the terms and conditions of the requested order (any 
such series, a ``Fund'' and collectively, the ``Funds''). For 
purposes of the requested order, ``successor'' is limited to an 
entity that results from a reorganization into another jurisdiction 
or a change in the type of business organization.
    \2\ The Trust currently has six series. The Adviser has hired a 
Subadviser for each of these Funds in compliance with section 15(a) 
of the Act.
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    2. Applicants request an exemption to permit the Adviser, subject 
to Board approval, to hire certain Subadvisers pursuant to subadvisory 
agreements and materially amend existing subadvisory agreements without 
obtaining the shareholder approval required under section 15(a) of the 
Act and rule 18f-2 under the Act.\3\ Applicants also seek an exemption 
from the Disclosure Requirements to permit a Fund to disclose (as both 
a dollar amount and a percentage of the Fund's net assets): (a) The 
aggregate fees paid to the Adviser and any Affiliated Subadviser; and 
(b) the aggregate fees paid to Subadvisers other than Affiliated 
Subadvisers. For any Fund that employs an Affiliated Subadviser, the 
Fund will provide separate disclosure of any fees paid to the 
Affiliated Subadviser.
---------------------------------------------------------------------------

    \3\ The requested relief will not extend to any Subadviser that 
is an affiliated person, as defined in section 2(a)(3) of the Act, 
of the Trust, a Fund, or the Adviser, other than solely by reason of 
serving as a Subadviser to one or more of the Funds, or as an 
adviser or subadviser to any series of the Trust other than the 
Funds (``Affiliated Subadviser'').
---------------------------------------------------------------------------

    3. Applicants agree that any order granting the requested relief 
will be subject to the terms and conditions stated in the application. 
Such terms and conditions provide for, among other safeguards, 
appropriate disclosure to Fund shareholders and notification about 
subadvisory changes and enhanced Board oversight to protect the 
interests of the Funds' shareholders.
    4. Section 6(c) of the Act provides that the Commission may exempt 
any person, security, or transaction or any class or classes of 
persons, securities, or transactions from any provisions of the Act, or 
any rule thereunder, if such relief is necessary or appropriate in the 
public interest and consistent with the protection of investors and 
purposes fairly intended by the policy and provisions of the Act. 
Applicants believe that the requested relief meets this standard 
because, as further explained in the application, the Advisory 
Agreements will remain subject to shareholder approval while the role 
of the Subadvisers is substantially similar to that of individual 
portfolio managers, so that requiring shareholder approval of 
subadvisory agreements would impose unnecessary delays and expenses on 
the Funds. Applicants believe that the requested relief from the 
Disclosure Requirements meets this standard because it will improve the 
Adviser's ability to negotiate fees paid to the Subadvisers that are 
more advantageous for the Funds.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-03311 Filed 2-25-19; 8:45 am]
 BILLING CODE 8011-01-P
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