[Federal Register Volume 61, Number 243 (Tuesday, December 17, 1996)]
[Notices]
[Pages 66338-66339]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31958]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-22391; File No. 811-6276]
Annuity Management Series
December 11, 1996
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: Annuity Management Series (``Applicant'' or ``Trust'').
RELEVANT 1940 ACT SECTION: Order requested pursuant to Section 8(f) of
the 1940 Act and Rule 8f-1 thereunder.
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 January 15, 1993. Amendments
to the application were filed on September 21, 1994 and August 15,
1996.
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 Secretary of the
Commission and serving Applicant with a copy of the request, personally
or by mail. Hearing requests must be received by the Commission by 5:30
p.m. on January 6, 1997, 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 sate 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 Commission.
ADDRESSES: Secretary, Securities and Exchange Commission, 450 Fifth
Street, N.W., Washington, D.C. 20549. Applicant: J. Martin Levine,
Federated Investors, Federated Investors Tower, Pittsburgh, PA 15222-
3779.
FOR FURTHER INFORMATION CONTACT:
Mark C. Amorosi, Attorney, or Kevin M. Kirchoff, Branch Chief, Office
of Insurance Products, Division of Investment Management, at (202) 942-
0670.
SUPPLEMENTARY INFORMATION: Following is a summary of the application;
the complete application is available for a fee from the Pubic
Reference Branch of the Commission.
Applicant's Representations
1. The Trust is an open-end, diversified management investment
company organized as a Massachusetts Business Trust. The Trust consists
of four portfolios; Equity Growth Fund, Equity Income Fund, Prime Money
Fund, and U.S. Government Bond Fund.
2. On February 5, 1991, the Trust filed with the Commission a
notice of registration on Form N-8A, pursuant to Section 8(a) of the
1940 Act, and a registration statement on Form N-1A (File Nos. 33-38845
and 811-6276) pursuant to the Securities Act of 1933 and Section 8(b)
of the 1940 Act (the ``Registration Statement''). The Registration
Statement was declared effective and the public offering commenced on
June 7, 1991.
3. On February 12, 1992, it was reported to the Trust's Board of
Trustees that Crown America Life Insurance Company (``Crown Life'') had
withdrawn from its agreement to offer investments of the Trust to Crown
Life's variable annuity separate account, and the Board of Trustees
unanimously decided to terminate the Trust. As of that date, there were
no public shareholders of three of the portfolios, the Equity Income
Fund, the Prime Money Fund, and the U.S. Government Bond Fund. In
addition, based upon communications between Crown Life and the two
insurance contract holders whose accounts were invested in the separate
account which, it turn, invested in the Equity Growth Fund, those
contract holders intended to, and did, redeem their shares prior to
February 12, 1992.
4. At the time of the application, the Trust had no security
holders, assets or liabilities, and the Trust was not a party to any
litigation or administrative proceeding.
5. The Trust 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 the Trust. No assets have been retained by the
Trust. The Trust is not now
[[Page 66339]]
engaged nor does it propose to engage in business activities other than
those necessary for the winding-up of its affairs. All expenses
incurred in connection with the liquidation of the Trust have been, and
will be, paid by Federated Advisers, the investment adviser to the
portfolios of the Trust. There will be no allocation of these expenses
to the Trust.
6. If the order sought herein is granted, the trust will shortly
thereafter file with the Secretary of State of the Commonwealth of
Massachusetts the documents necessary to dissolve itself as a
Massachusetts Business Trust, thereby ceasing to exist as a legal
entity.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-31958 Filed 12-16-96; 8:45 am]
BILLING CODE 8010-01-M
