[Federal Register Volume 60, Number 125 (Thursday, June 29, 1995)]
[Notices]
[Pages 33893-33894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15943]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-21160; 811-6063]
Smith Barney Shearson Short-Term World Income Fund; Notice of
Application
June 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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APPLICANTS: Smith Barney Shearson Short-Term World Income Fund.
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 March 31, 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 July 17, 1995,
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 who wish to be
notified of a hearing may request notification by writing to the SEC's
Secretary.
ADDRESSES: Secretary, SEC, 450 5th Street, N.W., Washington, D.C.
20549. Applicant, Smith Barney Inc., 388 Greenwich Street, New York,
New York 10013.
FOR FURTHER INFORMATION CONTACT: James M. Curtis, Senior Counsel, at
(202) 942-0563, or Robert A. Robertson, Branch Chief, (202) 942-0564
(Office of Investment Company Regulation, Division of Investment
Management).
SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee at the
SEC's Public Reference Branch.
Applicant's Representations
1. Applicant is an open-end management investment company that was
organized as a Massachusetts business trust. On March 16, 1990,
applicant filed a notice of registration on Form N-8A pursuant to
section 8(a) of the Act. Also on March 16, 1990, applicant filed a
registration statement under section 8(b) of the Act and under the
Securities Act of 1933 on Form N-1A to register an indefinite number of
shares. Applicant's registration statement was declared effective on
May 30, 1990, and applicant commenced its initial public offering
shortly thereafter.
2. On March 29, 1994, the board of trustees of applicant and the
board of trustees of Smith Barney Income Funds (the ``Acquiring
Fund''), respectively, approved an Agreement and Plan of Reorganization
(the ``Reorganization'') providing for the transfer of all or
substantially all the assets of applicant to Smith Barney Global Bond
Fund, a portfolio of the Acquiring Fund, in exchange for shares of the
Acquiring Fund. In accordance with rule 17a-8 under the Act, the board
of trustees of applicant, including the trustees who are not interested
persons, and the board of trustees of the Acquiring Fund, including the
trustees who are not interested persons, concluded that the
Reorganization would be in the best interests of their respective
investment companies and that the interests of their respective
shareholders would not be diluted as a result.
3. The registration statement on Form N-14 was filed with the SEC
and the proxy statement/prospectus contained therein was mailed to
applicant's shareholders on or about June 2, 1994. At a special meeting
of shareholders held on July 5, 1994, the shareholders of applicant
approved the Reorganization.
4. As of July 15, 1994, applicant had 6,035,746 Class A shares
outstanding having an aggregate net asset value of $37,703,310 and a
per share net asset value of $6.25. At such date, applicant also had
2,695,166 Class B shares outstanding, having an aggregate net asset
value of $16,840,661 and a per share net asset value of $6.25.
Applicant had no other classes of securities outstanding. On July 15,
1994, pursuant to the Reorganization, applicant transferred all its
assets to the Acquiring Fund in exchange for shares of the Acquiring
Fund. Immediately thereafter,
[[Page 33894]]
applicant liquidated and distributed pro rata to its shareholders the
shares that it received of the Acquiring Fund. Each shareholder of
applicant received shares of the Acquiring Fund having an aggregate net
asset value equal to the aggregate net asset value of his or her
investment in applicant.
5. Applicant and the Acquiring Fund each paid half of the expenses
of the Reorganization. Such expenses equaled approximately $130,000 and
consisted of accounting, printing, administrative, and certain legal
expenses.
6. Applicant has no security holders, assets, debts, or other
liabilities. Applicant is not a party to any litigation or
administrative proceeding. Applicant is not engaged and does not
propose to engage in any business activity other than those necessary
for the winding up of its affairs.
7. Applicant intends to file the appropriate notice of termination
with the Office of the Secretary of State of the Commonwealth of
Massachusetts to effect the termination of applicant as a Massachusetts
business trust.
For the SEC, by the Division of Investment Management, under
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-15943 Filed 6-28-95; 8:45 am]
BILLING CODE 8010-01-M
