[Federal Register Volume 59, Number 234 (Wednesday, December 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-30033]
[[Page Unknown]]
[Federal Register: December 7, 1994]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20748; No. 811-2172]
Home LIfe Equity Fund, Inc.
November 30, 1994.
AGENCY: Securities and Exchange Commission (``SEC'' or ``Commission'').
ACTION: Notice of Application for an Order under the Investment Company
Act of 1940 (``1940 Act'').
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APPLICANT: Home Life Equity Fund, Inc. (``Applicant'').
Relevant 1940 Act Section: Order requested under Section 8(f) of the
1940 Act.
SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has
ceased to be an investment company as defined by the 1940 Act.
FILING DATE: The application was filed on August 23, 1994 and amended
on November 18, 1994.
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 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 December
27, 1994, and should be accompanied by proof of service on Applicant in
the form of an affidavit or, for lawyers, a certificate of service.
Hearing requests should state the nature of the requestor's interest,
the reason for the request, and the issues contested. Persons may
request notification of a hearing by writing to the Secretary of the
SEC.
ADDRESSES: Secretary, Securities and Exchange Commission, 450 5th
Street, NW., Washington, DC 20549. Applicant, Home Life Equity Fund,
Inc., 75 Wall Street, New York, New York 10005; and c/o Patricia O.
McLaughlin, Phoenix Home Life Mutual Insurance Company, One American
Row, Hartford, Connecticut 06115.
FOR FURTHER INFORMATION CONTACT:Yvonne M. Hunold, Senior Counsel, on
(202) 942-0670, Office of Insurance Products (Division of Investment
Management).
SUPPLEMENTARY INFORMATION: Following is a summary of the application;
the complete application is available for a fee from the SEC's Public
Reference Branch.
Applicant's Representations
1. The Applicant was organized as a corporation under Maryland law
on June 3, 1970, and dissolved as such on April 7, 1993.
2. On February 26, 1971, Applicant filed a registration statement
under Section 8(b) of the 1940 Act and, on February 26, 1971,
registered under the 1940 Act as an open-end, diversified investment
management company. Also on February 26, 1971, Applicant filed a
registration statement under the Securities Act of 1933, registering
1,000,000 shares of Common Stock, $10,00 par value. This registration
statement was declared effective on September 14, 1971 as of June 19,
1971. The initial public offering commenced September 14, 1971.
3. On May 20, 1992, Applicant's Board of Directors unanimously
approved the terms of an Agreement and Plan of Reorganization and
Liquidation (``Plan'') and recommended it for shareholder approval. On
September 21, 1992, at a Special Meeting of Shareholders, 546,533.8323
shares out of the 690,437.4839 shares outstanding on the record date of
August 4, 1992 (constituting more than the two-thirds of the shares
outstanding that was required under Maryland law to approve the Plan),
voted in favor of the Plan.
4. As of October 22, 1992, Applicant had one class of Common Stock
outstanding, constituting 3,916,201.91 outstanding shares. The
aggregate net asset value and net asset value per share were
$49,323,348.86 and $12.5949, respectively. Applicant's only security
holders were Phoenix Home Life Mutual insurance Company's (``Phoenix-
Home Life'') Separate Account B, Separate Account C, and Separate
Account D (collectively, ``Separate Accounts'').
5. On October 21, 1992, the Commission issued an order granting an
application for exemptive relief from Section 17(a) and permitting the
transfer of Applicant's assets to The Phoenix Edge Series Fund Growth
Series, a Massachusetts business trust organized on February 18, 1986
(``Growth Series'').
6. On October 26, 1992, under the terms of the Plan, Applicant
transferred its assets on the Growth Series. Under the Plan,
Applicant's security holders, the Separate Accounts, become Growth
Series security holders. In consideration for the transfer, the Growth
Series assumed all of applicant's obligations and liabilities to the
extent they existed on or after the effective date of the
reorganization and delivered to Applicant full and fractional shares of
the Growth Series, par value $1.00 per share, equal to that number of
Growth Series share determined by multiplying the outstanding number of
Applicant's shares by the exchange ratio. The exchange ration was the
number determined by dividing the net asset value per share of
Applicant's shares by the net asset value per share of the Growth
Series shares, such values determined as of the close of the New York
Stock Exchange on October 22, 1992 (the last business day preceding the
reorganization). Applicant distributed such Grow Series shares pro rata
to its security holders and simultaneously Applicant's shares held by
its security holders were cancelled. No brokerage commissions were paid
in connection with the transfer of assets.
7. Applicant has retained no assets after October 26, 1992, and has
no security holders. Applicant does not have any debts or other
liabilities which remain outstanding. Applicant is not a party to any
litigation or administrative proceeding.
8. Phoenix-Home Life, the parent company to the Adviser, paid all
of the direct and indirect expenses of the reorganization, including
any brokerage fees relating to transactions resulting from the
reorganization.
9. Other than as described above, during the past 18 months,
Applicant has not, for any reason, transferred any of its assets to a
separate trust, the beneficiaries of which were or are security holders
of the Applicant.
10. Applicant is not now engaged, nor does it propose to engage, in
any business activities other than those necessary for the winding-up
of its affairs.
11. Applicant has made all filings under the 1940 Act, including
Form N-SAR filings, for each period for which such filings were
required.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-30033 Filed 12-6-94; 8:45 am]
BILLING CODE 8010-01-M