[Federal Register Volume 64, Number 23 (Thursday, February 4, 1999)]
[Notices]
[Pages 5690-5691]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-2660]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. IC-23672]
Notice of Applications for Deregistration Under Section 8(f) of
the Investment Company Act of 1940
January 29, 1999.
The following is a notice of applications for deregistration under
section 8(f) of the Investment Company Act of 1940 for the month of
January, 1999. A copy of each application may be obtained for a fee at
the SEC's Public Reference Branch, 450 Fifth St., N.W., Washington, DC
20549 (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 February 23, 1999, 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, N.W., Washington, DC 20549. For Further Information Contact:
Diane L. Titus, at (202) 942-0564, SEC, Division of Investment
Management, Office of Investment Company Regulation, Mail Stop 5-6, 450
Fifth Street, N.W., Washington, DC 20549.
Old Mutual Equity Growth Assets South Africa Fund [File No. 811-
9136]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. Applicant's portfolio consisted solely of its
beneficial interest in Old Mutual South Africa Equity Trust. On
September 18, 1998, all remaining shareholders of applicant redeemed
their shares at net asset value. Expenses incurred in connection with
the liquidation totaled approximately $40,000, and were paid by Old
Mutual Fund Holdings (Bermuda) Limited.
Filing Dates: The application was filed on September 29, 1998, and
amended on December 17, 1998.
Applicant's Address: Washington Mall Phase II, 4th Floor, 22 Church
Street, Hamilton HM11, Bermuda.
Hyperion 1997 Term Trust, Inc. [File No. 811-7072]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On December 1, 1997, applicant made a
liquidating distribution of substantially all of its assets to
shareholders at net asset value. At the time of filing the application,
applicant had 151 registered shareholder accounts that had not
surrendered their shares. Applicant's former custodian, State Street
Bank & Trust Company, is holding funds representing the aggregate
liquidation value of applicant's remaining shares. Expenses incurred in
connection with the liquidation totaled approximately $1,666,650, of
which applicant bore $1,614,789, and applicant's investment adviser
bore the remaining $51,861.
Filing Dates: The application was filed on October 21, 1998, and
amended on December 29, 1998.
Applicant's Address: One Liberty Plaza, 165 Broadway, New York, New
York 10006.
New York Life Fund, Inc. [File No. 811-1998]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. Except for shares issued to New York Life
Insurance Company (``New York Life''), the Registrant's parent company
and initial shareholder, Applicant's shares were held solely by New
York Life Separate Accounts N and Q (``Separate Accounts N and Q''), as
an investment vehicle for variable annuity contracts issued by New York
Life. In May 1995, New York Life commenced a redemption program
offering contract holders of the individual variable annuity contracts
issued by New York Life, through Separate Accounts N and Q, an option
to either surrender their contracts for the accumulated cash value or
exchange their contracts for a fixed or variable annuity product
offered by New York Life Insurance and Annuity Corporation, a wholly
owned subsidiary of New York Life. As of November 17, 1997, all of the
contract holders had, pursuant to the redemption offer, either
surrendered or exchange their contracts. All legal, accounting and
other expenses incurred in connection with the liquidation have been or
will be borne by New York Life or a subsidiary thereof.
Filing Dates: The application was filed on November 10, 1998 and
amended on January 15, 1998.
Appplicant's Address: 51 Madison Avenue, New York, NY 10010.
New York Life Separate Account N [File No. 811-1999]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. In May 1995, New York Life Insurance Company
(``New York Life'') commenced a redemption program offering contract
holders of the individual variable annuity contracts issued by New York
Life through the Applicant an option to either surrender their contract
for the accumulated cash value or exchange their contract for a fixed
or variable annuity product offered by New York Life Insurance and
Annuity Corporation, a wholly owned subsidiary of New York Life. As of
November 17, 1997, all of the contract holders had, pursuant to the
redemption offer, either surrendered or exchanged their contracts. All
legal, accounting, and other expenses incurred in connection with the
liquidation have been or will be borne by New York Life or a subsidiary
thereof.
Filing Date: The application was filed on November 10, 1998.
Applicant's Address: 51 Madison Avenue, New York, NY 10010.
New York Life Separate Account Q [File No. 811-2000]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. In May 1995, New York Life Insurance Company
(``New York Life'') commenced a redemption program offering contract
holders of the individual variable annuity contracts issued by New York
Life through the Applicant an option to either surrender their contract
for the accumulated cash value or exchange their contract for a fixed
or variable annuity product offered by New York Life Insurance and
Annuity Corporation, a wholly owned subsidiary of New York Life. As of
November 17, 1997, all of the contract holders had, pursuant to the
redemption offer, either surrendered or exchanged their contracts. All
legal, accounting, and other expenses incurred in connection with the
liquidation have been or will be borne by New York Life or a subsidiary
thereof.
[[Page 5691]]
Filing Date: The application was filed on November 10, 1998.
Applicant's Address: 51 Madison Avenue, New York, NY 10010.
Oppenheimer Adjustable Rate Preferred Fund [File No. 811-4045]
Oppenheimer Global Securities Fund [File 811-6002]
Summary: Each applicant seeks an order declaring that it has ceased
to be an investment company. Neither applicant has ever made a public
offering of its securities, nor does it propose to make a public
offering or engage in business of any kind.
Filing Date: Each application was filed on January 21, 1999.
Applicants' Addresses: Oppenheimer Adjustable Rate Preferred Fund,
6801 South Tucson Way, Englewood, Colorado 80112; Oppenheimer Global
Securities Fund, Two World Trade Center, New York, New York 10048-0203.
The Analytic Series Fund [File No. 811-7366] and Analytic Optioned
Equity Fund, Inc. [File No. 811-2807]
Summary: Each applicant seeks an order declaring that it has ceased
to be an investment company. On July 27, 1998, The Analytic Series
Fund's three portfolios transferred their assets to corresponding
portfolios of PBHG Advisor Funds, Inc. (``PBHG Funds'') in exchange for
shares of the corresponding PBHG Fund based on net asset value. On
August 31, 1998, Analytic Optioned Equity Fund, Inc. transferred its
assets to the PBHG Advisor Defensive Equity Fund series of PBHG Funds
in exchange for shares of the PBHG Fund series based on net asset
value. Expenses of approximately $110,789 and $89,848, respectively,
were incurred in connection with each reorganization. These expenses
were shared by Analytic-TSA Global Assets Management, Inc., investment
adviser to each applicant, and Pilgrim Baxter & Associates, Ltd.,
investment adviser to the PBHG Funds.
Filing Date: Each application was filed on January 6, 1999.
Applicants' Address: 700 South Flower Street, Suite 2400, Los
Angeles, California 90017.
Bond Portfolio for Endowments, Inc. [File No. 811-2210]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On July 31, 1998, applicant transferred all
of its assets and liabilities to the Bond Portfolio, a series of
Endowments, in exchange for shares of the Bond Portfolio based on the
relative net asset values per share. Applicant incurred approximately
$35,000 in expenses in connection with the reorganization.
Filing Date: The application was filed on December 23, 1998.
Applicant's Address: P.O. Box 7650, One Market, Steuart Tower, San
Francisco, California 94120.
Warburg, Pincus Strategic Value Fund, Inc. [File No. 811-7929]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On October 14, 1998, applicant made a
liquidating distribution to its shareholders at the net asset value per
share. Expenses of approximately $40,000 incurred in connection with
the liquidation were paid by Warburg Pincus Asset Management, Inc.,
applicant's investment adviser.
Filing Date: The application was filed on December 11, 1998.
Applicant's Address: 300 East Lombard Street, Baltimore, Maryland
21202.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-2660 Filed 2-3-99; 8:45 am]
BILLING CODE 8010-01-M
