[Federal Register Volume 59, Number 116 (Friday, June 17, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-14737]


[[Page Unknown]]

[Federal Register: June 17, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20349; File No. 811-3242]

 

The Wright Managed Money Market Trust: Notice of Application For 
Deregistration June 10, 1994

AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of Application for Deregistration under the Investment 
Company Act of 1940 (``Act'').

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APPLICANT: The Wright Managed Money Market Trust.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant requests an order declaring that it 
has ceased to be an investment company.

FILING DATE: The application was filed on May 27, 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 July 5, 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 writer's interest, the reason 
for the request, and the issues contested. Persons may request 
notification of a hearing by writing to the SEC's Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth Street, NW., Washington, DC 20549. 
Applicant, 24 Federal Street, Boston, MA 02110.

FOR FURTHER INFORMATION CONTACT:
Bradley W. Paulson, Staff Attorney, at (202) 942-0147 or C. David 
Messman, Branch Chief, at (202) 942-0564 (Division of Investment 
Management, Office of Investment Company Regulation).

SUPPLEMENTARY INFORMATION: The 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. Applicant, a Massachusetts business trust, registered as an 
open-end, diversified management investment company on August 12, 1981, 
by filing a notification of registration on Form N-8A pursuant to 
section 8(a) of the Act. On the same date, applicant filed a 
registration statement on Form N-1A under the Securities Act of 1933 
and pursuant to section 8(b) of the Act. The registration statement was 
declared effective on March 12, 1982. Applicant's public offering 
commenced soon thereafter.
    2. On January 19, 1994, the board of trustees of applicant, 
including a majority of trustees who were not interested persons of 
applicant, approved a plan of reorganization (the ``Plan''). The Plan 
provided that applicant would transfer all its assets and stated 
liabilities to the Wright Managed U.S. Treasury Money Market Fund 
(``Treasury Fund''), a series of The Wright Managed Income Trust (a 
Massachusetts business trust), in exchange for shares of Treasury Fund. 
Pursuant to rule 17a-8, applicant's trustees determined that the sale 
of applicant's assets to Treasury Fund was in the best interests of 
applicant's shareholders, and that the interests of the existing 
shareholders would not be diluted as a result.\1\
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    \1\Applicant and Treasury Fund may be deemed to be affiliated 
persons of each other by reason of having a common investment 
adviser. Although purchases and sales between affiliated persons 
generally are prohibited by section 17(a) of the Act, rule 17a-8 
provides an exemption for certain purchases and sales among 
investment companies that are affiliated persons of each other 
solely by reason of having a common investment adviser, common 
directors, and/or common officers.
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    3. Preliminary copies of proxy materials to solicit shareholder 
approval of the reorganization were filed with the SEC on January 28, 
1994. Definitive proxy materials were distributed to applicant's 
shareholders of record as of February 28, 1994, and filed with the SEC 
on March 10, 1994. At a meeting of shareholders of applicant held on 
March 28, 1994, applicant's shareholders approved the Plan.
    4. On March 31, 1994, the reorganization was consummated. Applicant 
transferred all its assets to Treasury Fund in exchange for shares of 
beneficial interest in Treasury Fund and the assumption by Treasury 
Fund of the stated liabilities of applicant. The exchanges were made at 
net asset value determined as of the close of business on March 30, 
1994. As of such date, applicant had an aggregate net asset value of 
$16,978,270.79. Each of applicant's shareholders received shares of 
Treasury Fund that represented the same aggregate net asset value as 
the shares of applicant owned by such shareholder immediately before 
the reorganization.
    5. Applicant and Treasury Fund assumed their own expenses in 
connection with the reorganization. Applicant incurred legal, 
accounting, and printing and mailing expenses in the approximate 
amounts of $12,200, $2,500, and $1,300, respectively. Treasury Fund 
incurred reorganization expenses for legal and accounting services of 
$12,200 and $2,500, respectively.
    6. As of the date of the application, applicant had no 
shareholders, assets, or liabilities. Applicant is not a party to any 
litigation or administrative proceeding. Applicant is not presently 
engaged in, nor does it propose to engage in, any business activities 
other than those necessary for the winding up of its affairs.
    7. Applicant was terminated as a business trust under the laws of 
the Commonwealth of Massachusetts as of May 20, 1994.

    For the SEC, by the Division of Investment Management, pursuant 
to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-14737 Filed 6-16-94; 8:45 am]
BILLING CODE 8010-01-M