Securities and Exchange Commission August 21, 2009 – Federal Register Recent Federal Regulation Documents

Summary of Application: Applicants request an order that would permit (a) certain open-end management investment companies and their series to issue shares (``Shares'') that can be redeemed only in large aggregations (``Creation Units''); (b) secondary market transactions in Shares to occur at negotiated prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Units; and (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the series to acquire Shares.