[Federal Register Volume 68, Number 247 (Wednesday, December 24, 2003)]
[Notices]
[Pages 74657-74658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-31697]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-26315]


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

December 19, 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 
December, 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 January 15, 2004, 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 20549-0504.

Mutual Investment Fund of Connecticut, Inc. (File No. 811-752)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On January 29, 2003, applicant made a final 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of $30,021 incurred in connection with the liquidation were 
paid by applicant and JP Morgan Chase Bank, applicant's investment 
adviser.
    Filing Date: The application was filed on December 12, 2003.
    Applicant's Address: c/o Connecticut Bankers Association, 10 
Waterside Dr., Farmington, CT 06103.

The Montgomery Funds (File No. 811-6011); The Montgomery Funds II (File 
No. 811-8064)

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

[[Page 74658]]

an investment company. By June 23, 2003, shareholders of each applicant 
had transferred their assets to corresponding series of WF Funds and 
Gartmore Funds, based on net asset value. Expenses of $3,084,969 and 
$499,936, respectively, incurred in connection with the reorganizations 
were paid by applicants' investment advisers, Wells Capital Management 
Inc. and Gartmore Global Asset Management Trust, and/or their 
affiliates.
    Filing Dates: The applications were filed on September 17, 2003, 
and September 18, 2003, respectively, and amended on November 20, 2003.
    Applicants' Address: P.O. Box 2189, Mill Valley, CA 94942.

The Montgomery Funds III (File No. 811-8782)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On June 23, 2003, applicant transferred its 
assets to Gartmore GVIT Developing Markets Fund, based on net asset 
value. Expenses of $116,149 incurred in connection with the 
reorganization were paid by applicant's investment adviser, Gartmore 
Global Asset Management Trust, and/or its affiliates.
    Filing Dates: The application was filed on September 18, 2003, and 
amended on November 20, 2003.
    Applicant's Address: P.O. Box 2189, Mill Valley, CA 94942.

The Avalon Fund of Maryland, Inc. (File No. 811-8773)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 6, 2003, applicant transferred 
its assets to Eastern Point Advisors Funds Trust, based on net asset 
value. Applicant incurred no expenses in connection with the 
reorganization.
    Filing Date: The application was filed on November 24, 2003.
    Applicant's Address: 655 Fairfield Ct., Suite 200, Ann Arbor, MI 
48108.

Putnam California Tax Exempt Money Market Fund (File No. 811-5333); 
Putnam New York Tax Exempt Money Market Fund (File No. 811-5335)

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On August 22, 2003, each applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Applicants incurred no expenses in connection with the liquidations.
    Filing Date: The applications were filed on November 20, 2003.
    Applicant's Address: One Post Office Sq., Boston, MA 02109.

Avalon Capital, Inc. (File No. 811-9004)

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On November 
24, 2003, applicant made a liquidating distribution to its 
shareholders, based on net asset value. Expenses of $17,500 incurred in 
connection with the liquidation were paid by applicant.
    Filing Date: The application was filed on November 26, 2003.
    Applicant's Address: c/o Gemini Fund Services, Inc., 150 Motor 
Parkway, Suite 205, Hauppauge, NY 11788.

Pioneer Market Neutral Fund (File No. 811-9867)

    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 November 13, 2003.
    Applicant's Address: 60 State St., Boston, MA 02109.

Oppenheimer Special Value Fund (File No. 811-10257)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 16, 2003, applicant made a liquidating 
distribution to its shareholders, based on net asset value. Applicant 
incurred no expenses in connection with the liquidation.
    Filing Date: The application was filed on November 5, 2003, and 
amended on December 2, 2003.
    Applicant's Address: 6803 South Tucson Way, Englewood, Co 80112.

The Unified Funds (File No. 811-8968)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On September 28, 2001, applicant transferred 
its assets to Liquid Green Money Market Fund, a series of AmeriPrime 
Advisors Trust, based on net asset value. Expenses of $9,764 incurred 
in connection with the reorganization were paid by Unified Investment 
Advisers, Inc., applicant's investment adviser.
    Filing Date: The application was filed on November 7, 2003.
    Applicant's Address: Unified Fund Services, Inc., 431 N. 
Pennsylvania St., Indianapolis, IN 46204.

UBS Managed Investments Trust (File No. 811-4040)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On March 24, 2003, applicant transferred the 
assets of its one series to UBS Global Equity Fund, a series of The UBS 
Funds, based on net asset value. Expenses of $319,323 were incurred in 
connection with the reorganization. Fifty percent of these expenses 
were paid by UBS Global Asset Management, applicant's investment 
adviser, and the remaining fifty percent were allocated to applicant 
and the acquiring fund, based on their respective net assets.
    Filing Dates: The application was filed on October 21, 2003, and 
amended on November 21, 2003.
    Applicant's Address: 51 West 52nd St., New York, NY 10019-6114.

The Legends Fund, Inc. (File No. 811-7084)

    Summary: Applicants seeks an order declaring that it has ceased to 
be an investment company. Applicant's board of directors and 
shareholders approved the merger of the Applicant into Touchstone 
Variable Series Trust on January 27, 2003, and April 18, 2003, 
respectively. Applicant's assets were distributed on April 23, 2003. 
Touchstone Advisors, Inc. paid for the expenses of the merger. 
Applicant has no remaining assets and no outstanding debts or 
liabilities.
    Filing Date: The application was filed on June 30, 2003, and 
amended on December 17, 2003.
    Applicant's Address: 515 West Market Street, Louisville, KY 40202.

New England Zenith Fund (File No. 811-3728)

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Shareholders approved the merger of 
applicant's series on April 25, 2003, and applicant distributed its 
assets on May 1, 2003. The funds surviving the merger are portfolios of 
the Metropolitan Series Fund, Inc. Applicant's investment manager, 
MetLife Advisers, LLC, and its affiliates, paid expenses of 
approximately $1,140,000 incurred in connection with the merger.
    Filing Date: The application was filed on October 10, 2003.
    Applicant's Address: 501 Boylston Street, Boston, MA 02116.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-31697 Filed 12-23-03; 8:45 am]
BILLING CODE 8010-01-M