[Federal Register Volume 59, Number 190 (Monday, October 3, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-24312]
[[Page Unknown]]
[Federal Register: October 3, 1994]
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SECURITIES AND EXCHANGE COMMISSION
Rel. No. IC--20577; No. 811-4515]
Colonial United States Equity Index Trust
September 26, 1994.
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: Colonial United States Equity Index Trust.
RELEVANT 1940 ACT SECTION: Order requested under Section 8(f) of the
1940 Act.
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 August 25, 1994.
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 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 October
21, 1994, 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 state 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
SEC.
ADDRESSES: Secretary, Securities and Exchange Commission, 450 5th
Street, N.W., Washington, D.C. 20549. Applicant, Colonial United States
Equity Index Trust, One Financial Center, Boston, Massachusetts 02111.
FOR FURTHER INFORMATION CONTACT:
Yvonne M. Hunold, Senior Counsel, on (202) 942-0670, Office of
Insurance Products (Division of Investment Management).
SUPPLEMENTARY INFORMATION: Following is a summary of the Application;
the complete Application is available for a free from the SEC's Public
Reference Branch.
Applicant's Representations
1. The Applicant (formerly, the GNMA Trust) is a Massachusetts
business trust and an open-end, diversified investment management
company registered under the 1940 Act.
2. On December 17, 1985, Applicant filed a notification of
registration under Section 8(a) of the 1940 Act and a registration
statement under the Securities Act of 1933 and Section 8(b) of the 1940
Act registering an unlimited number of shares of beneficial interest.
The registration statement became effective on July 22, 1986, and the
initial public offering commenced July 25, 1986.
3. On August 13, 1993, Applicant's board of trustees unanimously
approved the terms of an agreement and plan of reorganization
(``Plan''). The Plan was approved by Applicant's shareholders on
December 10, 1993. Applicant relied upon Rule 17a-8 under the 1940 Act
in determining to merge its assets into an existing series of a
registered investment management company.
4. On December 16, 1993, Applicant made a final distribution of
dividend income to its security holders in the amount of $0.1825 per
share, for a total distribution of $342,672.
5. On December 17, 1993, pursuant to the Plan, Applicant
transferred all of its assets to Colonial U.S. Fund for Growth
(``Colonial Growth'') in a non-taxable transaction. Colonial Growth is
a series of Colonial Trust VI, a registered management investment
company. In exchange for the transfer of assets, Colonial Growth
assumed Applicant's liabilities and issued pro rata to Applicant's
shareholders 3,552,164 of Colonial Growth Class A shares at a rate of
1.88 shares for each former share of the Applicant. The exchange
resulted in the complete liquidation, distribution and cancellation of
1,885,910.722 shares of Applicant then outstanding, valued at
$42,692,625.55 based on the closing net asset value for Applicant and
the Colonial Growth as of December 17, 1993 of $22.64 and $12.02,
respectively. The aggregate net assets of Colonial Growth immediately
after the exchange were $227,715,458. The Plan did not affect the net
asset value of the shares held by Applicant's shareholders.
6. Applicant's investment adviser paid all expenses incurred in
connection with the Plan. These expenses totaled approximately $79,063,
and consisted of legal, auditing, printing, mailing and proxy
solicitation expenses. No brokerage commissions were paid with respect
to the Plan.
7. Applicant has retained no assets and has no security holders.
Applicant does not have any debts or other liabilities which remain
outstanding and is not a party to any litigation or administrative
proceeding.
8. Applicant 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 Applicant.
9. Applicant is not now engaged, nor does it propose to engage, in
any business activities other than those necessary for the winding-up
of its affairs. Applicant will, after receipt of the relief requested,
file certificates of dissolution or similar documents in accordance
with state law.
10. Applicant states that it is current with all of its filings
under the 1940 Act, including all Form N-SAR filings for each semi-
annual period for which such filing was or is required.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-24312 Filed 9-30-94; 8:45 am]
BILLING CODE 8010-01-M
