[Federal Register Volume 62, Number 145 (Tuesday, July 29, 1997)]
[Notices]
[Pages 40559-40560]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-19905]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-22759; 811-8742]
Pacifica Variable Trust; Notice of Application
July 23, 1997.
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: Pacifica Variable Trust.
RELEVANT ACT SECTION: Section 8(f)
SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has
ceased to be an investment company.
FILING DATES: The application was filed on January 31, 1997, and
amendments thereto were filed on May 6, 1997, and June 19, 1997.
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 August 18, 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 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, DC 20549.
Applicant, 237 Park Avenue, Suite 910, New York, NY 10017.
FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Staff Attorney, at
(202) 942-0574, or H.R. Hallock, Jr., Special Counsel, 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 at the
SEC's Public Reference Branch.
Applicant's Representations
1. Applicant is an open-end management investment company that is
organized as a Delaware business trust. On August 30, 1994, applicant
registered under the Act and filed a registration statement pursuant to
section 8(b) of the Act on Form N-1A to register an indefinite number
of
[[Page 40560]]
shares for each of its five portfolios. The registration statement
became effective on December 1, 1995, and applicant commenced a public
offering of its shares on January 2, 1996. Applicant's shares were
offered only to separate accounts funding variable annuity contracts
issued by Anchor National Life Insurance Company.
2. At a meeting of applicant's board of trustees on August 15,
1996, the board unanimously approved the deregistration and dissolution
of applicant. Applicant states it did not seek securityholder
authorization for its deregistration and dissolution because the sole
shareholder of each of its series voluntarily redeemed its shares.
3. On September 26, 1996, applicant's liquidation date, applicant's
sole shareholder of each of applicant's series voluntarily redeemed its
shares at net asset value. The number of securities redeemed and the
aggregate net asset value attributable to each portfolio were as
follows: (a) The Balanced Portfolio redeemed 259,699.737 shares with an
aggregate net asset value of $2,708,148.86; (b) the Emerging Growth
Portfolio redeemed 262,809.167 shares with an aggregate net asset value
of $2,763,438.40; (c) the Equity Value Portfolio redeemed 261,410.613
shares with an aggregate net asset value of $2,821,404.74; (d) the
Intermediate Bond Portfolio redeemed 258,378.579 shares with an
aggregate net asset value of $2,487,152.20; and (e) the Money Market
Portfolio redeemed 2,587,773.76 shares with an aggregate net asset
value of $2,587,773.76. There are no securityholders of applicant to
whom distributions in complete liquidation of their interests have not
been made.
4. The expenses incurred in connection with applicant's liquidation
were approximately $14,344.59. The expenses were assumed by Wells Fargo
Bank, the parent company of applicant's investment adviser. Prior to
applicant's liquidation date, all of applicant's portfolio securities
and other assets were disposed of in arm's length transactions at fair
market value. Applicant paid ordinary and reasonable brokerage
commissions in connection with such transactions.
5. Applicant has no securityholders or assets. Applicant has no
outstanding debts or liabilities. Applicant is not a party to any
litigation or administrative proceeding.
6. Applicant is not now engaged, nor does it propose to engage, in
any business activities other than those necessary for the winding up
of its affairs. Applicant will file a certificate of cancellation with
the State of Delaware to effect its dissolution.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 97-19905 Filed 7-28-97; 8:45 am]
BILLING CODE 8010-01-M
