[Federal Register Volume 65, Number 132 (Monday, July 10, 2000)]
[Notices]
[Pages 42405-42407]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-17282]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-24552]


Notice of Application for Deregistration Under Section 8(f) of 
the Investment Company Act of 1940

June 30, 2000.
    The following is a notice of applications for deregistration under 
section 8(f) of the Investment Company Act of 1940 for the month of 
June, 2000. A copy of each application may be obtained for a fee at the 
SEC's Public Reference Branch, 450 Fifth St., NW, Washington, DC 20549-
0102 (tel. 202-942-8090). An order granting each application will be 
issued unless the SEC orders a hearing. Interested persons may request 
a hearing on any application by writing to the SEC's Secretary at the 
address below and serving the relevant 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 25, 2000, 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 who wish to be notified of a hearing may 
request notification by writing to the Secretary, SEC, 450 Fifth 
Street, NW, Washington, DC 20549-0609. For Further Information Contact: 
Diane L. Titus, at (202) 942-0564, SEC, Division of Investment 
Management, Office of

[[Page 42406]]

Investment Company Regulation, 450 Fifth Street, NW, Washington, DC 
20549-0506.

Oppenheimer Core Equity Fund [File No. 811-8807]; Oppenheimer Large 
Cap Value Fund [File No. 811-8810]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. Applicants have never made a public 
offering of their securities and do not propose to make any public 
offering or engage in business of any kind.
    Filing Dates: Each application was filed on June 12, 2000.
    Applicants' Address: Two World Trade Center, New York, New York 
10048-0203.

Corefunds, Inc. [File No. 811-4107]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On July 24, 1998, applicant transferred its 
assets to Evergreen Equity Trust, Evergreen Select Equity Trust, 
Evergreen International Trust, Evergreen Fixed Income Trust, Evergreen 
Select Fixed Income Trust, Evergreen Municipal Trust, Evergreen Money 
Market Trust and Evergreen Select Money Market Trust (the ``Acquiring 
Funds'') based on net asset value. Expenses of $1,040,489 incurred in 
connection with the reorganization were paid by First Union National 
Bank.
    Filing Date: The application was filed on May 20, 2000.
    Applicant's Address: 530 East Swedesford Road, Wayne, Pennsylvania 
19087.

Shepmyers Investment Company [File No. 811-2798]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On April 20, 2000, applicant transferred its 
assets to The National Portfolio of Smith Barney Muni Funds, based on 
net asset value. Expenses of $123,580 incurred in connection with the 
reorganization were paid by applicant.
    Filing Date: The application was filed on May 26, 2000.
    Applicant's Address: P.O. Box 339, Route 194 South, Hanover, 
Pennsylvania 17331.

Congress Street Associates, L.P. [File No. 811-8801]

    Summary: Applicant, a registered closed-end management investment 
company, seeks an order declaring that it has ceased to be an 
investment company. By March 21, 2000, applicant had distributed all of 
its assets to its shareholders based on net asset value. Expenses of 
$4,722 incurred in connection with the liquidation were paid by 
applicant's general partner and investment adviser, Congress Street 
Management, L.L.C.
    Filing Date: The application was filed on May 17, 2000.
    Applicant's Address: c/o PaineWebber Incorporated, 1285 Avenue of 
the Americas, New York, New York 10019.

Merrill Lynch Fund for Tomorrow, Inc. [File No. 811-3871]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 23, 1998, applicant transferred 
its assets to Merrill Lynch Fundamental Growth Fund, Inc. based on net 
asset value. Expenses of approximately $319,620 incurred in connection 
with the reorganization were paid by the acquiring fund.
    Filing Date: The application was filed on May 15, 2000.
    Applicant's Address: 800 Scudders Mill Road, Plainsboro, New Jersey 
08536-9011.

Templeton Global Real Estate Fund [File No. 811-5844]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On September 23, 1999, applicant transferred 
its assets to Franklin Real Estate Securities Fund, a series of 
Franklin Real Estate Securities Trust, based on net asset value. 
Expenses of $61,021 incurred in connection with the reorganization were 
paid equally by applicant, the acquiring fund, and their respective 
investment advisers.
    Filing Date: The application was filed on June 2, 2000.
    Applicant's Address: 500 East Broward Boulevard, Fort Lauderdale, 
Florida 33394-3091.

Investment Services for Education Associations Trust [File No. 811-
7967]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 31, 1999, applicant made a liquidating 
distribution to its shareholders based on net asset value. No expenses 
were incurred in connection with the liquidation.
    Filing Dates: The application was filed on March 10, 2000, and 
amended on April 25, 2000, and June 9, 2000.
    Applicant's Address: 1201 North Market Street, P.O. Box 1347, 
Wilmington, Delaware 19899-1347.

INVESCO Industrial Income Fund, Inc. [File No. 811-893]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 28, 1999, applicant transferred its 
assets to INVESCO Equity Fund, formerly named INVESCO Industrial Income 
Fund, a series of INVESCO Combination Stock & Bond Funds, Inc., based 
on net asset value. Expenses of $968,388 incurred in connection with 
the reorganization were paid equally by Invesco Funds Group, Inc., 
applicant's investment adviser, and applicant.
    Filing Date: The application was filed on May 23, 2000.
    Applicant's Address: 7800 E. Union Avenue, Denver, Colorado 80237.

INVESCO Emerging Opportunity Funds, Inc. [File No. 811-6234]; 
INVESCO Growth Funds, Inc. [File No. 811-352]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On July 15, 1999, applicants transferred 
their assets to INVESCO Small Company Growth Fund and INVESCO Blue Chip 
Growth Fund, respectively, each a series of INVESCO Stock Funds, Inc., 
based on net asset value. Expenses of $81,674, and $234,237, 
respectively, incurred in connection with the reorganizations were paid 
equally by applicants' investment adviser and the acquiring fund.
    Filing Date: The applications were filed on May 23, 2000.
    Applicants' Address: 7800 E. Union Avenue, Denver, Colorado 80237.

INVESCO Tax-Free Income Funds, Inc. [File No. 811-3177]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On August 16, 1999, INVESCO Tax-Free Bond 
Fund (formerly named INVESCO Tax-Free Long-Term Bond Fund), a series of 
applicant, transferred its assets to INVESCO Tax-Free Bond Fund, a new 
series of INVESCO Bond Funds, Inc., based on net asset value. Expenses 
of $31,084 incurred in connection with the reorganization were divided 
equally between INVESCO Funds Group, Inc., applicant's investment 
adviser, and INVESCO Tax-Free Bond Fund.
    Filing Date: The application was filed on May 23, 2000.
    Applicant's Address: 7800 E. Union Avenue, Denver, Colorado 80237.

INVESCO Value Trust [File No. 811-4595]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an

[[Page 42407]]

investment company. On May 28, 1999, INVESCO Total Return Fund, a 
series of applicant, transferred its assets to INVESCO Total Return 
Fund, a series of INVESCO Combination Stock & Bond Funds, Inc. On June 
4, 1999, INVESCO Intermediate Government Bond Fund, a series of 
applicant, transferred its assets to INVESCO U.S. Government Securities 
Fund, a series of INVESCO Bond Funds, Inc. On July 15, 1999, INVESCO 
Value Equity Fund, a series of applicant, transferred its assets to 
INVESCO Value Equity Fund, a series of INVESCO Stock Funds, Inc. 
Expenses of $137,084 incurred in connection with the reorganization of 
applicant's INVESCO Total Return Fund series were paid equally by 
applicant's investment adviser and INVESCO Total Return Fund. Expenses 
of $87,458 were incurred in connection with the reorganization of 
applicant's INVESCO Intermediate Government Bond Fund series, with 
applicant's investment adviser paying $43,729, INVESCO Intermediate 
Government Bond Fund paying $13,524, and INVESCO U.S. Government 
Securities Fund paying $30,204. Expenses of $69,319 incurred in 
connection with the reorganization of applicant's INVESCO Value Equity 
Fund series were paid equally by applicant's investment adviser and 
INVESCO Value Equity Fund.
    Filing Date: The application was filed on May 23, 2000.
    Applicant's Address: 7800 E. Union Avenue, Denver Colorado 80237.

INVESCO Diversified Funds, Inc. [File No. 811-7984]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On June 4, 1999, applicant transferred its 
assets to INVESCO Small Company Growth Fund, a series of INVESCO 
Emerging Opportunity Funds, Inc., based on net asset value. Expenses of 
$86,881 were incurred in connection with the reorganization, of which 
applicant's investment adviser paid $43,440, applicant paid $11,596, 
and the acquiring fund paid $31,844.
    Filing Date: The application was filed on May 23, 2000.
    Applicant's Address: 7800 E. Union Avenue, Denver, Colorado 80237.

Farm Bureau Life Variable Account II [File No. 811-8639]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has not made any public offering of 
its securities, is not now engaged, or intending to engage, in any 
business activities other than those necessary for winding up its 
affairs.
    Filing Date: The application was filed on May 23, 2000.
    Applicant's Address: 5400 University Avenue, West Des Moines, Iowa 
50266.

Farm Bureau Life Annuity Account II [File No. 811-8667]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has not made any public offering of 
its securities, is not now engaged, or intending to engage, in any 
business activities other than those necessary for winding up its 
affairs.
    Filing Date: The application was filed on May 23, 2000.
    Applicant's Address: 5400 University Avenue, West Des Moines, Iowa 
50266.

Pegasus Variable Funds [File No. 811-8854]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On March 31, 1999, Applicant distributed all 
of its shares at net asset value to its shareholders in connection with 
Applicant's liquidation. Applicant's liquidation was completed pursuant 
to an in-kind substitution of securities permitted under Section 17(a) 
and 26(b) of the Investment Company Act of 1940 by a March 17, 1999 SEC 
exemptive order. Legal expenses of $33,689.37 incurred in connection 
with the liquidation were paid by Pegasus Variable Funds ($4,361.87) 
and One Group Investment Trust, the substituted Fund ($29,327.50). No 
other expenses were incurred in connection with the liquidation.
    Filing Date: The application was filed on June 12, 2000.
    Applicant's Address: 1111 Polaris Parkway, P.O. Box 710211, 
Columbus, OH 43271-0211.

Select Advisors Portfolios [File No. 811-8778]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On December 31, 1998, applicant, the master 
fund in a master/feeder structure, made a liquidating distribution to 
its shareholders, based on net asset value. Expenses of $206,646 
incurred in connection with the liquidation were paid by Touchstone 
Advisors, Inc., applicant's investment adviser.
    Filing Dates: The application was filed on February 7, 2000, and 
amended on May 25, 2000, and June 27, 2000.
    Applicant's Address: 311 Pike Street, Cincinnati, Ohio 45202.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 00-17282 Filed 7-7-00; 8:45 am]
BILLING CODE 8010-01-M