[Federal Register Volume 60, Number 250 (Friday, December 29, 1995)]
[Notices]
[Pages 67377-67378]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31510]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 21618; 811-7684]
Household Personal Portfolios
December 22, 1995.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of Application for Deregistration under the Investment
Company Act of 1940 (the ``Act'').
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APPLICANT: Household Personal Portfolios.
RELEVANT ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant requests an order declaring that it
has ceased to be an investment company.
FILING DATES: The application was filed on August 10, 1995 and amended
on December 12, 1995.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the SEC 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 January 16, 1996
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 may request
notification of a hearing by writing to the SEC's Secretary.
ADDRESSES: Secretary, SEC, 450 5th Street, NW., Washington, D.C. 20549.
Applicant, 2 North LaSalle Street, Chicago, Illinois 60602.
FOR FURTHER INFORMATION CONTACT: Sarah A. Buescher, Staff Attorney, at
(202) 942-0573, or Alison E. Baur, Branch Chief, at (202) 942-0564
(Division of Investment Management, Office of Investment Company
Regulation).
SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee from
the SEC's Public Reference Branch.
Applicant's Representations
1. Applicant is an open-end, diversified management investment
company organized as a Massachusetts business trust. Applicant has five
portfolios; Growth Equity Portfolio; Equity Income Portfolio; Fixed
Income Portfolio; Tax-Exempt Income Portfolio; and Short-Term Income
Portfolio.
2. SEC records indicate that applicant registered under the Act on
April 28, 1993 by filing a notification of registration on Form N-8A
pursuant to section 8(a) of the Act. Also on that date, applicant filed
a registration statement on Form N-1A pursuant to section 8(b) of the
Act and the Securities Act of 1933. The registration statement became
effective on August 3, 1993, and the initial public offering commenced
on the same date.
3. On December 19, 1994, after determining that applicant could no
longer provide the desired safety, diversity, or earnings to
shareholders because of applicant's small asset base, applicant's board
of trustees authorized the appropriate officers to enter into an
Agreement and Plan of Liquidation (``Plan'').
4. Pursuant to the Plan, applicant would be liquidated on February
28, 1995 (``Liquidation Date''), and on that date shareholders who had
not redeemed their shares would have them automatically redeemed.
Shareholders of applicant on or after December 19, 1994 would receive,
upon redemption, the greater of (a) the shareholder's account balance
(reflecting net asset value per share) on the date the redemption
request is received or the Liquidation Date (whichever applies) or (b)
the aggregate amount of the shareholder's purchase payments. Such
payment method was used to ensure that shareholders would not receive
less than their minimum initial investment. Household International,
Inc., (``Household'') the parent of applicant's manager/distributor,
Hamilton Investments, Inc., agreed to compensate any shareholder of
record on or after December 19, 1994 for the amount by which all
purchase payments made by that shareholder exceeded the shareholder's
account balance upon redemption.
5. On February 28, 1995, all outstanding shares of applicant were
liquidated and the proceeds were paid in cash to the shareholders.
Distributions to all securityholders in complete liquidation of their
interests have been made. Applicant did not incur any brokerage
commissions attributable to the disposition of its portfolio
securities.
6. In connection with the liquidation, applicant incurred $9,725 of
aggregate expenses, consisting primarily of legal fees and mailing
expenses, all of which were paid by Household. Household also
reimbursed applicant for applicant's remaining unamortized
organizational expenses of $287,710.
7. As of the date of this application, applicant has no assets and
no outstanding debts or liabilities. Applicant has no shareholders and
is not a party to any litigation or administrative proceeding.
Applicant is not presently engaged, nor does it propose to engage, in
any business activities other than those necessary for the winding up
of its affairs.
8. Applicant intends to file an instrument required to terminate
its existence as a Massachusetts business trust.
[[Page 67378]]
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-31510 FIled 12-28-95; 8:45 am]
BILLING CODE 8010-01-M
