[Federal Register Volume 60, Number 125 (Thursday, June 29, 1995)]
[Notices]
[Pages 33893-33894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15943]



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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-21160; 811-6063]


Smith Barney Shearson Short-Term World Income Fund; Notice of 
Application

June 22, 1995.
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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APPLICANTS: Smith Barney Shearson Short-Term World Income Fund.

RELEVANT ACT SECTION: Section 8(f).

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

FILING DATES: The application was filed on March 31, 1995.

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 17, 1995, 
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 who wish to be 
notified of a hearing may request notification by writing to the SEC's 
Secretary.

ADDRESSES: Secretary, SEC, 450 5th Street, N.W., Washington, D.C. 
20549. Applicant, Smith Barney Inc., 388 Greenwich Street, New York, 
New York 10013.

FOR FURTHER INFORMATION CONTACT: James M. Curtis, Senior Counsel, at 
(202) 942-0563, or Robert A. Robertson, Branch Chief, (202) 942-0564 
(Office of Investment Company Regulation, Division of Investment 
Management).

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 Massachusetts business trust. On March 16, 1990, 
applicant filed a notice of registration on Form N-8A pursuant to 
section 8(a) of the Act. Also on March 16, 1990, applicant filed a 
registration statement under section 8(b) of the Act and under the 
Securities Act of 1933 on Form N-1A to register an indefinite number of 
shares. Applicant's registration statement was declared effective on 
May 30, 1990, and applicant commenced its initial public offering 
shortly thereafter.
    2. On March 29, 1994, the board of trustees of applicant and the 
board of trustees of Smith Barney Income Funds (the ``Acquiring 
Fund''), respectively, approved an Agreement and Plan of Reorganization 
(the ``Reorganization'') providing for the transfer of all or 
substantially all the assets of applicant to Smith Barney Global Bond 
Fund, a portfolio of the Acquiring Fund, in exchange for shares of the 
Acquiring Fund. In accordance with rule 17a-8 under the Act, the board 
of trustees of applicant, including the trustees who are not interested 
persons, and the board of trustees of the Acquiring Fund, including the 
trustees who are not interested persons, concluded that the 
Reorganization would be in the best interests of their respective 
investment companies and that the interests of their respective 
shareholders would not be diluted as a result.
    3. The registration statement on Form N-14 was filed with the SEC 
and the proxy statement/prospectus contained therein was mailed to 
applicant's shareholders on or about June 2, 1994. At a special meeting 
of shareholders held on July 5, 1994, the shareholders of applicant 
approved the Reorganization.
    4. As of July 15, 1994, applicant had 6,035,746 Class A shares 
outstanding having an aggregate net asset value of $37,703,310 and a 
per share net asset value of $6.25. At such date, applicant also had 
2,695,166 Class B shares outstanding, having an aggregate net asset 
value of $16,840,661 and a per share net asset value of $6.25. 
Applicant had no other classes of securities outstanding. On July 15, 
1994, pursuant to the Reorganization, applicant transferred all its 
assets to the Acquiring Fund in exchange for shares of the Acquiring 
Fund. Immediately thereafter, 

[[Page 33894]]
applicant liquidated and distributed pro rata to its shareholders the 
shares that it received of the Acquiring Fund. Each shareholder of 
applicant received shares of the Acquiring Fund having an aggregate net 
asset value equal to the aggregate net asset value of his or her 
investment in applicant.
    5. Applicant and the Acquiring Fund each paid half of the expenses 
of the Reorganization. Such expenses equaled approximately $130,000 and 
consisted of accounting, printing, administrative, and certain legal 
expenses.
    6. Applicant has no security holders, assets, debts, or other 
liabilities. Applicant is not a party to any litigation or 
administrative proceeding. Applicant is not engaged and does not 
propose to engage in any business activity other than those necessary 
for the winding up of its affairs.
    7. Applicant intends to file the appropriate notice of termination 
with the Office of the Secretary of State of the Commonwealth of 
Massachusetts to effect the termination of applicant as a Massachusetts 
business trust.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-15943 Filed 6-28-95; 8:45 am]
BILLING CODE 8010-01-M