[Federal Register Volume 59, Number 116 (Friday, June 17, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-14737]
[[Page Unknown]]
[Federal Register: June 17, 1994]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20349; File No. 811-3242]
The Wright Managed Money Market Trust: Notice of Application For
Deregistration June 10, 1994
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of Application for Deregistration under the Investment
Company Act of 1940 (``Act'').
-----------------------------------------------------------------------
APPLICANT: The Wright Managed Money Market Trust.
RELEVANT ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant requests an order declaring that it
has ceased to be an investment company.
FILING DATE: The application was filed on May 27, 1994.
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 July 5, 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 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 Fifth Street, NW., Washington, DC 20549.
Applicant, 24 Federal Street, Boston, MA 02110.
FOR FURTHER INFORMATION CONTACT:
Bradley W. Paulson, Staff Attorney, at (202) 942-0147 or C. David
Messman, 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 is available for a fee from the
SEC's Public Reference Branch.
Applicant's Representations
1. Applicant, a Massachusetts business trust, registered as an
open-end, diversified management investment company on August 12, 1981,
by filing a notification of registration on Form N-8A pursuant to
section 8(a) of the Act. On the same date, applicant filed a
registration statement on Form N-1A under the Securities Act of 1933
and pursuant to section 8(b) of the Act. The registration statement was
declared effective on March 12, 1982. Applicant's public offering
commenced soon thereafter.
2. On January 19, 1994, the board of trustees of applicant,
including a majority of trustees who were not interested persons of
applicant, approved a plan of reorganization (the ``Plan''). The Plan
provided that applicant would transfer all its assets and stated
liabilities to the Wright Managed U.S. Treasury Money Market Fund
(``Treasury Fund''), a series of The Wright Managed Income Trust (a
Massachusetts business trust), in exchange for shares of Treasury Fund.
Pursuant to rule 17a-8, applicant's trustees determined that the sale
of applicant's assets to Treasury Fund was in the best interests of
applicant's shareholders, and that the interests of the existing
shareholders would not be diluted as a result.\1\
---------------------------------------------------------------------------
\1\Applicant and Treasury Fund may be deemed to be affiliated
persons of each other by reason of having a common investment
adviser. Although purchases and sales between affiliated persons
generally are prohibited by section 17(a) of the Act, rule 17a-8
provides an exemption for certain purchases and sales among
investment companies that are affiliated persons of each other
solely by reason of having a common investment adviser, common
directors, and/or common officers.
---------------------------------------------------------------------------
3. Preliminary copies of proxy materials to solicit shareholder
approval of the reorganization were filed with the SEC on January 28,
1994. Definitive proxy materials were distributed to applicant's
shareholders of record as of February 28, 1994, and filed with the SEC
on March 10, 1994. At a meeting of shareholders of applicant held on
March 28, 1994, applicant's shareholders approved the Plan.
4. On March 31, 1994, the reorganization was consummated. Applicant
transferred all its assets to Treasury Fund in exchange for shares of
beneficial interest in Treasury Fund and the assumption by Treasury
Fund of the stated liabilities of applicant. The exchanges were made at
net asset value determined as of the close of business on March 30,
1994. As of such date, applicant had an aggregate net asset value of
$16,978,270.79. Each of applicant's shareholders received shares of
Treasury Fund that represented the same aggregate net asset value as
the shares of applicant owned by such shareholder immediately before
the reorganization.
5. Applicant and Treasury Fund assumed their own expenses in
connection with the reorganization. Applicant incurred legal,
accounting, and printing and mailing expenses in the approximate
amounts of $12,200, $2,500, and $1,300, respectively. Treasury Fund
incurred reorganization expenses for legal and accounting services of
$12,200 and $2,500, respectively.
6. As of the date of the application, applicant had no
shareholders, assets, or liabilities. Applicant is not a party to any
litigation or administrative proceeding. Applicant is not presently
engaged in, nor does it propose to engage in, any business activities
other than those necessary for the winding up of its affairs.
7. Applicant was terminated as a business trust under the laws of
the Commonwealth of Massachusetts as of May 20, 1994.
For the SEC, by the Division of Investment Management, pursuant
to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-14737 Filed 6-16-94; 8:45 am]
BILLING CODE 8010-01-M
