[Federal Register Volume 68, Number 129 (Monday, July 7, 2003)]
[Notices]
[Pages 40307-40310]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-17053]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-26090]


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

June 27, 2003.
    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, 2003. 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 24, 2003, 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 Investment Company Regulation, 450 Fifth Street, 
NW., Washington, DC 20549-0506.

All-American Term Trust Inc. [File No. 811-7352]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On December 
30, 2002, applicant made a liquidating distribution to its 
shareholders, based on net asset value. As of March 31, 2003, applicant 
had 74 shareholders who had not been located. Unclaimed assets have 
been placed with applicant's transfer agent, and will be held for three 
years, after which any unclaimed assets will be surrendered to the 
State of Maryland. Expenses of $15,300 incurred in connection with the 
liquidation will be paid by applicant.
    Filing Date: The application was filed on June 12, 2003.
    Applicant's Address: c/o CSC Lawyers Incorporating Service Company, 
11 East Chase St., Baltimore, MD 21202.

Merrill Lynch Spectrum Fund, Inc. (Formerly Merrill Lynch Large Cap 
Spectrum Fund, Inc.) [File No. 811-10469]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has never made a public offering of 
its securities and does not propose to make a public offering or engage 
in business of any kind.
    Filing Date: The application was filed on June 13, 2003.
    Applicant's Address: 800 Scudders Mill Rd., Plainsboro, NJ 08536.

The Korean Investment Fund, Inc. [File No. 811-6467]

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

[[Page 40308]]

investment company. On June 6, 2003, applicant made a liquidating 
distribution to its shareholders, based on net asset value. Expenses of 
$59,400 incurred in connection with the liquidation were paid by 
applicant.
    Filing Date: The application was filed on June 11, 2003.
    Applicant's Address: 1345 Avenue of the Americas, New York, NY 
10105.

Millennium Funds, Inc. [File No. 811-8729]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 23, 2003, applicant made a liquidating 
distribution to its shareholders, based on net asset value. Expenses of 
$50,974 incurred in connection with the liquidation were paid by 
applicant.
    Filing Date: The application was filed on June 11, 2003.
    Applicant's Address: 8869 Brecksville Rd., Suite C, Brecksville, OH 
44141.

Pioneer Science & Technology Fund [File No. 811-9785]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On January 10, 2003, applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of $14,311 incurred in connection with the liquidation were 
paid by Pioneer Investment Management, Inc., applicant's investment 
adviser.
    Filing Date: The application was filed on June 12, 2003.
    Applicant's Address: 60 State St., Boston, MA 02109.

Templeton Emerging Markets Appreciation Fund, Inc. [File No. 811-8362] 
Templeton Vietnam and Southeast Asia Fund, Inc. [File No. 811-8632]

    Summary: Each applicant, a closed-end investment company, seeks an 
order declaring that it has ceased to be an investment company. On 
September 26, 2002, each applicant transferred its assets to Templeton 
Developing Markets Trust, based on net asset value. Expenses of 
$194,042 and $306,464, respectively, incurred in connection with the 
reorganizations were paid by applicants, the acquiring fund and their 
respective investment advisers.
    Filing Date: The applications were filed on June 5, 2003.
    Applicants' Address: 500 East Broward Blvd., Suite 2100, Fort 
Lauderdale, FL 33394-3091.

Templeton Global Government Income Trust [File No. 811-5677]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On August 30, 
2002, applicant transferred its assets to Templeton Global Income Fund, 
Inc., based on net asset value. Expenses of $389,190 incurred in 
connection with the reorganization were paid by applicant, the 
acquiring fund and their respective investment advisers.
    Filing Date: The application was filed on June 5, 2003.
    Applicants' Address: 500 East Broward Blvd., Suite 2100, Fort 
Lauderdale, FL 33394-3091.

ETF Advisors Trust [File No. 811-21115]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 30, 2003, applicant made a liquidating 
distribution to its shareholders, based on net asset value. Expenses of 
approximately $4,000 incurred in connection with the liquidation were 
paid by ETF Advisors, LP, applicant's investment adviser.
    Filing Date: The application was filed on June 5, 2003.
    Applicant's Address: 153 E. 53rd St., New York, NY 10022.

Credit Suisse European Equity Fund, Inc. [File No. 811-8903]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On April 25, 2003, applicant transferred its 
assets to Credit Suisse International Focus Fund, Inc., based on net 
asset value. Expenses of $135,000 incurred in connection with the 
reorganization were paid by Credit Suisse Asset Management, LLC, 
applicant's investment adviser, and/or its affiliates.
    Filing Date: The application was filed on May 30, 2003.
    Applicant's Address: 466 Lexington Ave., New York, NY 10017.

Mercury Small Cap Value Fund, Inc. [File No. 811-9955] Mercury U.S. 
High Yield Fund, Inc. [File No. 811-9981]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On March 24, 2003, applicants transferred 
their assets to Merrill Lynch Small Cap Value Fund, Inc. and Merrill 
Lynch U.S. High Yield Fund, Inc., respectively, based on net asset 
value. Expenses of $190,955 and $186,365, respectively, incurred in 
connection with the reorganizations were paid by Merrill Lynch 
Investment Managers, Inc.
    Filing Date: The applications were filed on May 23, 2003.
    Applicants' Address: 800 Scudders Mill Rd., Plainsboro, NJ 08536.

Berger Growth Fund, Inc. [File No. 811-1382]

    Berger Large Cap Growth Fund, Inc. [File No. 811-1383] Berger Omni 
Investment Trust [File No. 811-4273]
    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On April 21, 2003, each applicant 
transferred its assets to Janus Investment Fund, based on net asset 
value. Expenses of $928,863, $250,296, and $1,698,340, respectively, 
were incurred in connection with the reorganizations and were paid by 
Janus Capital Management LLC and Berger Financial Group LLC, 
applicants' investment advisers.
    Filing Date: The applications were filed on May 28, 2003.
    Applicants' Address: 210 University Blvd., Suite 800, Denver, CO 
80206.

Berger Investment Portfolio Trust [File No. 811-8046]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On April 21, 2003, applicant transferred its 
assets to Janus Investment Fund and Janus Adviser Series, based on net 
asset value. Expenses of $1,430,479 incurred in connection with the 
reorganization were paid by Janus Capital Management LLC and Berger 
Financial Group LLC, investment advisers to applicant.
    Filing Date: The application was filed on May 28, 2003.
    Applicant's Address: 210 University Blvd., Suite 800, Denver, CO 
80206.

Berger Worldwide Funds Trust [File No. 811-7669]

    Summary: Applicant, a feeder fund in a master-feeder structure, 
seeks an order declaring that it has ceased to be an investment 
company. On April 21, 2003, applicant made a liquidating distribution 
to its shareholders, based on net asset value. Expenses of $19,569 
incurred in connection with the liquidation were paid by Janus Capital 
Management LLC and Berger Financial Group LLC.
    Filing Date: The application was filed on May 28, 2003.
    Applicant's Address: 2l0 University Blvd., Suite 800, Denver, CO 
80206.

Berger Worldwide Portfolio Trust [File No. 811-7667]

    Summary: Applicant, a master trust in a master-feeder structure, 
seeks an order declaring that it has ceased to be an investment 
company. On April 21, 2003, applicant made a liquidating distribution 
to its feeder funds, based on net asset value. Expenses of $24,151 
incurred in connection with the liquidation were paid by Janus Capital

[[Page 40309]]

Management LLC and Berger Financial Group LLC.
    Filing Date The application was filed on May 28, 2003.
    Applicant's Address: 210 University Blvd., Suite 800, Denver, CO 
80206.

2002 Target Term Trust Inc. [File No. 811-7286]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On November 
29, 2002, applicant made a liquidating distribution to its 
shareholders, based on net asset value. Applicant has placed the 
unclaimed assets of its 46 remaining shareholders with PFPC, 
applicant's transfer agent. Any unclaimed assets remaining at the end 
of three years will be surrendered to the State of Maryland. Expenses 
of $10,350 incurred in connection with the liquidation were paid by 
applicant.
    Filing Dates: The application was filed on April 11, 2003, and 
amended on June 12, 2003.
    Applicant's Address: c/o CSC Lawyers Incorporating Service Company, 
11 East Chase St., Baltimore, MD 21202.

BBH International Equity Portfolio [File No. 811-8996], BBH Pacific 
Basin Equity Portfolio [File No. 811-9659], BBH European Equity 
Portfolio [File No. 811-9661], BBH U.S. Equity Portfolio [File No. 811-
9663], BBH High Yield Fixed Income Portfolio [File No. 811-9971], BBH 
Broad Market Fixed Income Portfolio [File No. 811-9969]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. By April 1, 2003, each applicant's 
shareholders had redeemed their shares, based on net asset value. 
Applicants incurred no expenses in connection with the liquidations.
    Filing Dates: The applications were filed on May 20, 2003, and 
amended on June 6, 2003.
    Applicants' Address: Brown Brothers Harriman, 40 Water St., Boston, 
MA 02109.

Corporate High Yield Fund II, Inc. [File No. 811-7103], Corporate High 
Yield Fund IV, Inc. [File No. 811-10313]

    Summary: Each applicant, a closed-end investment company, seeks an 
order declaring that it has ceased to be an investment company. On May 
5, 2003, applicants transferred their assets to Corporate High Yield 
Fund, Inc. and Corporate High Yield Fund V, Inc., respectively, based 
on net asset value. Expenses of $280,850 and $326,599, respectively, 
incurred in connection with the reorganizations were paid by each 
applicant's acquiring fund.
    Filing Date: The applications were filed on June 4, 2003.
    Applicant's Address: Merrill Lynch Investment Managers, L.P., 800 
Scudders Mill Rd., Plainsboro, NJ 08536.

Voyageur Funds [File No. 811-5267]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On August 24, 2001, applicant transferred its 
assets to Delaware Group Government Fund `` Delaware American Bond 
Fund, based on net asset value. Expenses of $44,658 incurred in 
connection with the reorganization were paid by applicant, the 
acquiring fund, Delaware Distributors, L.P., applicant's principal 
underwriter, and Delaware Management Company, applicant's manager.
    Filing Dates: The application was filed on January 8, 2003, and 
amended on February 11, 2003, March 25, 2003, June 2, 2003, and June 
18, 2003.
    Applicant's Address: Delaware Investments, 2005 Market St., 
Philadelphia, PA 19130.

Mercury QA Equity Series, Inc. [File No. 811-9611]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On March 28, 2002, applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Applicant has retained assets in the amount of $18,407 to cover its 
outstanding liabilities. Expenses of $67,513 incurred in connection 
with the liquidation were paid by applicant.
    Filing Dates: The application was filed on October 10, 2002, and 
amended on June 5, 2003.
    Applicant's Address: 800 Scudders Mill Rd., Plainsboro, NJ 08536.

American Skandia Life Assurance Corporation Variable Account B (Class 2 
Sub-Account) [File No. 811-8248]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 18, 2002, the assets of American 
Skandia Life Assurance Corporation Variable Account B (Class 2 Sub-
Account) were consolidated into what was formerly American Skandia Life 
Assurance Corporation Variable Account B (Class 1 Sub-Account) and is 
now known as American Skandia Life Assurance Corporation Variable 
Account B (the ``Separate Account''). In addition, four other sub-
accounts of the Separate Account, (Class 3 Sub-Account, Class 7 Sub-
Account, Class 8 Sub-Account, and Class 9 Sub-Account), were 
consolidated into the Separate Account on November 18, 2002 (the 
``Consolidation''). Each sub-account had been registered as a distinct 
unit investment trust under the Investment Company Act of 1940 (``1940 
Act''). The Consolidation effectively reorganized six separately-
registered 1940 Act entities into a single 1940 Act registrant.
    Filing Date: The application was filed on December 6, 2002.
    Applicant's Address: American Skandia Life Assurance Corporation, 
One Corporate Drive, Shelton, CT 06484.

American Skandia Life Assurance Corporation Variable Account B (Class 3 
Sub-Account) [File No. 811-8884]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 18, 2002, the assets of American 
Skandia Life Assurance Corporation Variable Account B (Class 3 Sub-
Account) were consolidated into what was formerly American Skandia Life 
Assurance Corporation Variable Account B (Class 1 Sub-Account) and is 
now known as American Skandia Life Assurance Corporation Variable 
Account B (the ``Separate Account''). In addition, four other sub-
accounts of the Separate Account, (Class 2 Sub-Account, Class 7 Sub-
Account, Class 8 Sub-Account, and Class 9 Sub-Account), were 
consolidated into the Separate Account on November 18, 2002 (the 
``Consolidation''). Each sub-account had been registered as a distinct 
unit investment trust under the Investment Company Act of 1940 (``1940 
Act''). The Consolidation effectively reorganized six separately-
registered 1940 Act entities into a single 1940 Act registrant.
    Filing Date: The application was filed on December 6, 2002.
    Applicant's Address: American Skandia Life Assurance Corporation, 
One Corporate Drive, Shelton, CT 06484.

American Skandia Life Assurance Corporation Variable Account B (Class 7 
Sub-Account) [File No. 811-09705]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 18, 2002, the assets of American 
Skandia Life Assurance Corporation Variable Account B (Class 7 Sub-
Account) were consolidated into what was formerly American Skandia Life 
Assurance Corporation Variable Account B (Class 1 Sub-Account) and is 
now known as American Skandia Life Assurance Corporation Variable 
Account B (the ``Separate Account''). In addition, four

[[Page 40310]]

other sub-accounts of the Separate Account, (Class 2 Sub-Account, Class 
3 Sub-Account, Class 8 Sub-Account, and Class 9 Sub-Account), were 
consolidated into the Separate Account on November 18, 2002 (the 
``Consolidation''). Each sub-account had been registered as a distinct 
unit investment trust under the Investment Company Act of 1940 (``1940 
Act''). The Consolidation effectively reorganized six separately-
registered 1940 Act entities into a single 1940 Act registrant.
    Filing Date: The application was filed on December 6, 2002.
    Applicant's Address: American Skandia Life Assurance Corporation, 
One Corporate Drive, Shelton, CT 06484.

American Skandia Life Assurance Corporation Variable Account B (Class 9 
Sub-Account) [File No. 811-09989]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 18, 2002, the assets of American 
Skandia Life Assurance Corporation Variable Account B (Class 9 Sub-
Account) were consolidated into what was formerly American Skandia Life 
Assurance Corporation Variable Account B (Class 1 Sub-Account) and is 
now known as American Skandia Life Assurance Corporation Variable 
Account B (the ``Separate Account''). In addition, four other sub-
accounts of the Separate Account, (Class 2 Sub-Account, Class 3 Sub-
Account, Class 7 Sub-Account, and Class 8 Sub-Account), were 
consolidated into the Separate Account on November 18, 2002 (the 
``Consolidation''). Each sub-account had been registered as a distinct 
unit investment trust under the Investment Company Act of 1940 (``1940 
Act''). The Consolidation effectively reorganized six separately-
registered 1940 Act entities into a single 1940 Act registrant.
    Filing Date: The application was filed on December 6, 2002.
    Applicant's Address: American Skandia Life Assurance Corporation, 
One Corporate Drive, Shelton, CT 06484.

American Skandia Life Assurance Corporation Variable Account B (Class 8 
Sub-Account) [File No. 811-09705]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 18, 2002, the assets of American 
Skandia Life Assurance Corporation Variable Account B (Class 8 Sub-
Account) were consolidated into what was formerly American Skandia Life 
Assurance Corporation Variable Account B (Class 1 Sub-Account) and is 
now known as American Skandia Life Assurance Corporation Variable 
Account B (the ``Separate Account''). In addition, four other sub-
accounts of the Separate Account, (Class 2 Sub-Account, Class 3 Sub-
Account, Class 7 Sub-Account, and Class 9 Sub-Account), were 
consolidated into the Separate Account on November 18, 2002 (the 
``Consolidation''). Each sub-account had been registered as a distinct 
unit investment trust under the Investment Company Act of 1940 (``1940 
Act''). The Consolidation effectively reorganized six separately-
registered 1940 Act entities into a single 1940 Act registrant.
    Filing Date: The application was filed on December 6, 2002.
    Applicant's Address: American Skandia Life Assurance Corporation, 
One Corporate Drive, Shelton, CT 06484.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-17053 Filed 7-3-03; 8:45 am]
BILLING CODE 8010-01-P