[Federal Register Volume 62, Number 70 (Friday, April 11, 1997)]
[Notices]
[Page 17897]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9347]
[[Page 17897]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 22599; 811-4648]
Lord Abbett Fundamental Value Fund, Inc.; Notice of Application
April 4, 1997.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of application for deregistration under the Investment
Company Act of 1940 (the ``Act'').
-----------------------------------------------------------------------
APPLICANT: Lord Abbett Fundamental Value Fund, Inc.
RELEVANT ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant requests an order declaring that it
has ceased to be an investment company.
FILING DATE: The application was filed on March 10, 1997.
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 April 29, 1997,
and should be accompanied by proof of service on the 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 Fifth Street, N.W., Washington, D.C.
20549. Applicant, 767 Fifth Avenue, New York, New York 10153.
FOR FURTHER INFORMATION CONTACT: Diane L. Titus, Paralegal Specialist,
at (202) 942-0584, or H.R. Hallock, Jr., 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 from
the SEC's Public Reference Branch.
Applicant's Representations
1. Applicant is an open-end, diversified management investment
company, organized as a corporation under the laws of the State of
Maryland. On March 22, 1986, applicant registered under the Act and
filed a registration statement to register its shares under the
Securities Act of 1933. Applicant's registration statement became
effective on June 30, 1986, after which it commenced the initial public
offering of its shares.
2. On March 14, 1996, applicant's board of directors approved the
terms of an Agreement and Plan of Reorganization (the ``Agreement'')
involving applicant and the Lord Abbett Growth & Income Trust (the
``Acquiring Fund''), a series of another open-end investment company,
Lord Abbett Securities Trust. The Agreement provided for the transfer
of all the assets of applicant in exchange for Class A shares of the
Acquiring Fund and the assumption by the Acquiring Fund of all of
applicant's liabilities (the ``Reorganization''). Applicant's board of
directors, in accordance with rule 17a-8 under the Act, determined that
the Reorganization was in applicant's best interest and would not
result in any dilution to the interest of applicant's existing
shareholders.
3. A registration statement on Form N-14 was filed with the SEC on
March 1, 1996 and declared effective on April 24, 1996. The proxy
statement/prospectus contained in such registration was furnished to
applicant's shareholders on or about April 24, 1996. The shareholders
of applicant approved the Reorganization with the Acquiring Fund at a
meeting held on June 19, 1996.
4. On July 12, 1996, the Acquiring Fund carried out the
Reorganization by acquiring applicant's assets in exchange for its
Class A shares. The number of full and fractional shares of the
Acquiring Fund that were issued to applicant's shareholders was
determined on the basis of the relative net asset values per share and
the aggregate net assets of the Acquiring Fund and applicant as of the
close of business on the New York Stock Exchange on July 12, 1996. At
that time, applicant had 3,215,613 shares of common stock outstanding
at a net value per share of $13.42 and aggregate net assets of
$43,649,765.
5. The total expenses incurred by applicant and the Acquiring Fund
in connection with the Reorganization were approximately $85,804. Of
these expenses, $36,901 were incurred by applicant. These expenses
include printing expenses, solicitation expenses, legal fees, mailing
expenses, audit fees and expenses, and filing fees. To the extent
applicant did not pay any such expenses prior to the effective date of
the Reorganization, they have been assumed by the Acquiring Fund.
6. Applicant has no assets, debts or liabilities. Applicant is
neither engaged in nor proposes to engage in any business activities
other than those necessary for the winding up of its affairs. Applicant
is not a party to any litigation or administrative proceeding.
7. Applicant intends to file a Certificate of Dissolution with the
State of Maryland.
For the SEC, by the Division of Investment Management, under
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-9347 Filed 4-10-97; 8:45 am]
BILLING CODE 8010-01-M