[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