Securities and Exchange Commission March 2013 – Federal Register Recent Federal Regulation Documents

Summary of the Application: Applicants request an order that would (a) permit certain registered open-end management investment companies that operate as ``funds of funds'' to acquire shares of certain registered open-end management investment companies, registered closed-end management investment companies, ``business development companies,'' as defined by section 2(a)(48) of the 1940 Act, and registered unit investment trusts that are within or outside the same group of investment companies as the acquiring investment companies and (b) permit certain registered open-end management investment companies relying on rule 12d1-2 under the 1940 Act to invest in certain financial instruments.

Summary of Application: Applicants request an order that would permit (a) series of certain open-end management investment companies to issue shares (``Shares'') redeemable in large aggregations only (``Creation Units''); (b) secondary market transactions in Shares to occur at negotiated market 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. Applicants: Renaissance Capital Greenwich Funds (``Trust''), Renaissance Capital LLC (``Adviser''), and Renaissance Capital Investments, Inc. (``Renaissance Capital Investments'').