[Federal Register Volume 59, Number 154 (Thursday, August 11, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-19564] [[Page Unknown]] [Federal Register: August 11, 1994] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Rel. No. IC--20443; 811-3106] Zweig Cash Fund, Inc.; Notice of Application August 5, 1994. agency: Securities and Exchange Commission (``SEC''). action: Notice of Application for Deregistration under the Investment Company Act of 1940 (the ``Act''). ----------------------------------------------------------------------- applicant: Zweig Cash Fund, Inc. (formerly, DBL Cash-Link Fund Inc.) 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 July 5, 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 August 30, 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 5th Street, N.W., Washington, DC 20549. Applicant, 5 Hanover Square, 17th Floor, New York, NY 10004. for further information contact: Elaine M. Boggs, Staff Attorney, at (202) 942-0572, or Barry D. Miller, Senior Special Counsel 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 may be obtained for a fee at the SEC's Public Reference Branch. Applicant's Representations 1. Applicant is an open-end management investment company that was organized as a corporation under the laws of Maryland. On November 3, 1980, applicant registered under the Act as an investment company, and filed a registration statement to register shares of its Money Market Portfolio under the Securities Act of 1933. The registration statement was declared effective on February 12, 1981, and the initial public offering commenced on or about that date. On February 22, 1982, post- effective amendment No. 3 to applicant's registration statement became effective and public offering of applicant's Government Securities Portfolio began on or about that date. On April 30, 1991, applicant issued to the holders of shares of its Money Market Portfolio shares of its Government Securities Portfolio with an equivalent net asset value. At such time, all assets and liabilities of the Money Market Portfolio became assets and liabilities of the Government Securities Portfolio. Since that time the Government Securities Portfolio has been applicant's only portfolio. 2. On December 14, 1993, applicant's board of trustees approved an agreement and plan of reorganization (the ``Plan'') between applicant and Zweig Cash Fund, a series of Zweig Series Trust (the ``Trust''), a registered open-end management investment company.\1\ --------------------------------------------------------------------------- \1\According to a proxy statement dated March 10, 1994, applicant's board of directors, including all of the disinterested directors, found that the reorganization would be in the bests interests of applicant's shareholders and that the interests of applicant's existing shareholders would not be diluted as a result of the reorganization. The Proxy statement also states that the board no longer considered applicant to be viable as a separate fund because of its relatively small asset base, high operating expenses, and correspondingly low yield absent an expense reimbursement from applicant's adviser. --------------------------------------------------------------------------- 3. On March 11, 1994, applicant distributed proxy materials to its shareholders. At a meeting on April 28, 1994, applicant's shareholders approved the reorganization. 4. Pursuant to the Plan, on April 29, 1994, applicant transferred all of its assets to the Trust in exchange for Class M shares of Zweig Cash Fund. Applicant then distributed the shares of Zweig Cash Fund to its shareholders. After completion of the reorganization, each shareholder of applicant owned Class M shares of Zweig Cash Fund with the same aggregate net asset value as the shares of applicant owned by the shareholder immediately prior to the reorganization. On April 29, 1994, applicant had 92,292,699.36 shares outstanding, having an aggregate net asset value of $92,292,699.36 and a per share net asset value of $1.00. 5. Applicant's adviser, Zweig/Glaser Advisers, assumed all expenses in connection with the reorganization. Expenses totalled approximately $88,000. 6. There are no securityholders to whom distributions in complete liquidation of their interests have not been made. Applicant has no debts or other liabilities that remain outstanding. Applicant is not a party to any litigation or administrative proceeding. 7. Applicant will file certificates of dissolution with Maryland authorities after the requested order is obtained. 8. 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. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Jonathan G. Katz, Secretary. [FR Doc. 94-19564 Filed 8-10-94; 8:45 am] BILLING CODE 8010-01-M