[Federal Register Volume 59, Number 55 (Tuesday, March 22, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 93-6605]
[[Page Unknown]]
[Federal Register: March 22, 1994]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20139; 811-4943]
Lutheran Brotherhood High Yield Fund; Deregistration
March 15, 1994.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of application for deregistration under the Investment
Company Act of 1940 (the ``Act'').
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APPLICANT: Lutheran Brotherhood High Yield Fund.
RELEVANT ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has
ceased to be an investment company.
FILING DATE: The application was filed on February 23, 1994.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the SEC orders a hearing. Interested persons may
request a hearing by writing to the SEC's Secretary and serving
applicant with a copy of the request, personally or by mail. Hearing
requests should be received by the SEC by 5:30 p.m. on April 11, 1994,
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 SEC's
Secretary.
ADDRESSES: Secretary, SEC, 450 Fifth Street, NW., Washington, DC 20549.
Applicant, 625 Fourth Avenue South, Minneapolis, Minnesota 55415.
FOR FURTHER INFORMATION CONTACT:
John V. O'Hanlon, Senior Attorney, at (202) 272-3922, or Robert A.
Robertson, Branch Chief, at (202) 272-3030 (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
SEC's Public Reference Branch.
Applicant's Representations
1. Applicant is an open-end, diversified investment company
organized as a corporation under Minnesota law. Applicant filed a
Notification of Registration pursuant to section 8(a) of the Act on
December 18, 1986. On the same date, applicant filed a registration
statement pursuant to the Securities Act of 1933 and section 8(b) of
the Act. The registration statement was declared effective on April 3,
1987, and the public offering of applicant's shares commenced promptly
thereafter.
2. At a meeting held on July 20, 1993, applicant's board of
directors determined that it would be in the best interests of
applicant's shareholders for applicant to be reorganized as a separate
series of The Lutheran Brotherhood Family of Funds, a Massachusetts
business trust (the ``Trust''), and for applicant to be terminated
thereafter pursuant to an Agreement and Plan of Reorganization and
Liquidation (the ``Plan''). The board also determined that the
reorganization would not dilute the interests of applicant's
shareholders.
3. Proxy materials relating to the reorganization and termination
of applicant were distributed to applicant's shareholders on or about
September 15, 1993. At a meeting held on October 28, 1993, the
reorganization and termination of applicant pursuant to the Plan was
approved by the holders of 58.51% of the outstanding shares of
applicant.
4. On November 1, 1993, applicant transferred all of its assets to
the Trust in exchange for shares of the Lutheran Brotherhood High Yield
Fund series of the Trust (the ``Series''), which were then distributed
to applicant's shareholders. Each shareholder of applicant received
shares of the Series which, before giving effect to certain expenses of
the reorganization, had upon receipt a total net asset value equal to
the total net value of the shares of applicant held by the shareholder
immediately before the reorganization.
5. All expenses incurred in connection with the reorganization and
termination of applicant, consisting of legal expenses, costs of
solicitation, printing and mailing expenses, and auditing expenses,
were paid by applicant.
6. As of the date of the application, applicant had no security
holders, assets, or liabilities, and was not a party to any litigation
or administrative proceeding.
7. Applicant is not engaged, and does not propose to engage, in any
business activities other than those necessary for the winding-up of
its affairs.
8. Applicant filed a Notice of Intent to Dissolve with the
Secretary of State of the State of Minnesota. Applicant intends to file
Articles of Dissolution with the Secretary of State upon receipt of the
requested order.
For the SEC, by the Division of Investment Management, under
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 93-6605 Filed 3-21-94; 8:45 am]
BILLING CODE 8010-01-M