[Federal Register Volume 61, Number 29 (Monday, February 12, 1996)]
[Notices]
[Pages 5431-5432]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-3048]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC--21730; 811-4131]
National Federal Securities Trust; Notice of Application
February 5, 1996.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of Application for Deregistration under the Investment
Company Act of 1940 (the ``Act'').
-----------------------------------------------------------------------
APPLICANT: National Federal Securities Trust.
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 3, 1995 and amended
January 11, 1996.
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 March 1, 1996,
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, D.C.
20549. Applicant, One American Row, Hartford, Connecticut 06115.
FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Staff Attorney, at
(202) 942-0574, or Alison E. Baur, 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 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 organized
as a Massachusetts business trust. On October 17, 1984, applicant
registered under the Act as an investment company, and filed a
registration statement under the Securities Act of 1933. The
registration statement was declared effective on November 21, 1984, and
applicant's initial public offering commenced on December 10, 1984.
2. On June 30, 1993, applicant's Board of Trustees and the Board of
Trustees of the Phoenix Series Fund unanimously approved an agreement
and plan of reorganization (the ``Plan''), in accordance with rule 17a-
8 of the Act, whereby applicant would transfer all of its assets to the
U.S. Government Securities Fund Series (the ``Government Series'') of
the Phoenix Series Fund, a Massachusetts business trust.\1\ Proxy
materials were filed with the SEC and were distributed to shareholders
on September 3, 1993. At a special meeting held on November 4, 1993,
applicant's shareholders approved the Plan.
\1\ Applicant and the Phoenix Series Fund may be deemed to be
affiliated persons of each other by reason of having a common
investment adviser, common directors, and/or common officers.
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 one another solely by reason of
having a common investment adviser, common directors, and/or common
officers.
---------------------------------------------------------------------------
3. On December 3, 1993 (the ``Closing Date''), applicant
transferred all of its assets to the Government Series. Accordingly,
securityholders of applicant became securityholders of the Government
Series. In consideration for the transfer, the Government Series
assumed all of applicant's liabilities and delivered to applicant full
and fractional shares of beneficial interest of the Government Series
equal to that number of full and fractional Government Series shares as
determined based on the relative net asset values per share of
applicant and the Government Series as of the close of trading of the
New York Stock Exchange on the Closing Date. Applicant distributed such
Government Series shares pro rata to its securityholders and
simultaneously applicant's shares held by its securityholders were
canceled.
4. Phoenix Investment Counsel, Inc., an affiliate of applicant,
paid all of the direct and indirect expenses of the reorganization,
including any brokerage fees relating to transactions resulting from
the reorganization.
5. At the time of the application, applicant had no
securityholders, assets, or liabilities. Applicant is not a party to
any litigation or administrative proceeding.
6. 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. Applicant has filed documents necessary to terminate
its existence as a Massachusetts business trust.
[[Page 5432]]
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-3048 Filed 2-9-96; 8:45 am]
BILLING CODE 8010-01-M