[Federal Register Volume 61, Number 243 (Tuesday, December 17, 1996)]
[Notices]
[Pages 66338-66339]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31958]


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SECURITIES AND EXCHANGE COMMISSION

[Rel. No. IC-22391; File No. 811-6276]


Annuity Management Series

December 11, 1996
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: Annuity Management Series (``Applicant'' or ``Trust'').

RELEVANT 1940 ACT SECTION: Order requested pursuant to Section 8(f) of 
the 1940 Act and Rule 8f-1 thereunder.

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 January 15, 1993. Amendments 
to the application were filed on September 21, 1994 and August 15, 
1996.

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 Secretary of the 
Commission and serving Applicant with a copy of the request, personally 
or by mail. Hearing requests must be received by the Commission by 5:30 
p.m. on January 6, 1997, 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 sate 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 Commission.

ADDRESSES: Secretary, Securities and Exchange Commission, 450 Fifth 
Street, N.W., Washington, D.C. 20549. Applicant: J. Martin Levine, 
Federated Investors, Federated Investors Tower, Pittsburgh, PA 15222-
3779.

FOR FURTHER INFORMATION CONTACT:
Mark C. Amorosi, Attorney, or Kevin M. Kirchoff, Branch Chief, Office 
of Insurance Products, Division of Investment Management, at (202) 942-
0670.

SUPPLEMENTARY INFORMATION: Following is a summary of the application; 
the complete application is available for a fee from the Pubic 
Reference Branch of the Commission.

Applicant's Representations

    1. The Trust is an open-end, diversified management investment 
company organized as a Massachusetts Business Trust. The Trust consists 
of four portfolios; Equity Growth Fund, Equity Income Fund, Prime Money 
Fund, and U.S. Government Bond Fund.
    2. On February 5, 1991, the Trust filed with the Commission a 
notice of registration on Form N-8A, pursuant to Section 8(a) of the 
1940 Act, and a registration statement on Form N-1A (File Nos. 33-38845 
and 811-6276) pursuant to the Securities Act of 1933 and Section 8(b) 
of the 1940 Act (the ``Registration Statement''). The Registration 
Statement was declared effective and the public offering commenced on 
June 7, 1991.
    3. On February 12, 1992, it was reported to the Trust's Board of 
Trustees that Crown America Life Insurance Company (``Crown Life'') had 
withdrawn from its agreement to offer investments of the Trust to Crown 
Life's variable annuity separate account, and the Board of Trustees 
unanimously decided to terminate the Trust. As of that date, there were 
no public shareholders of three of the portfolios, the Equity Income 
Fund, the Prime Money Fund, and the U.S. Government Bond Fund. In 
addition, based upon communications between Crown Life and the two 
insurance contract holders whose accounts were invested in the separate 
account which, it turn, invested in the Equity Growth Fund, those 
contract holders intended to, and did, redeem their shares prior to 
February 12, 1992.
    4. At the time of the application, the Trust had no security 
holders, assets or liabilities, and the Trust was not a party to any 
litigation or administrative proceeding.
    5. The Trust has not, within the last 18 months, transferred any of 
its assets to a separate trust, the beneficiaries of which were or are 
security holders of the Trust. No assets have been retained by the 
Trust. The Trust is not now

[[Page 66339]]

engaged nor does it propose to engage in business activities other than 
those necessary for the winding-up of its affairs. All expenses 
incurred in connection with the liquidation of the Trust have been, and 
will be, paid by Federated Advisers, the investment adviser to the 
portfolios of the Trust. There will be no allocation of these expenses 
to the Trust.
    6. If the order sought herein is granted, the trust will shortly 
thereafter file with the Secretary of State of the Commonwealth of 
Massachusetts the documents necessary to dissolve itself as a 
Massachusetts Business Trust, thereby ceasing to exist as a legal 
entity.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-31958 Filed 12-16-96; 8:45 am]
BILLING CODE 8010-01-M