96-17069. BEA Investment Funds, Inc.; Notice of Application for Deregistration  

  • [Federal Register Volume 61, Number 130 (Friday, July 5, 1996)]
    [Notices]
    [Pages 35273-35274]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 96-17069]
    
    
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    SECURITIES AND EXCHANGE COMMISSION
    [Investment Company Act Release No. 22044; 811-5568]
    
    
    BEA Investment Funds, Inc.; Notice of Application for 
    Deregistration
    
    June 27, 1996.
    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: BEA Investment Funds, Inc.
    
    relevant act section: Order requested under 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 April 15, 1996, and amended 
    on June 11, 1996.
    
    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 22, 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 Fifth Street, N.W., Washington, D.C. 
    20549. Applicant, One Citicorp Center, 153 East 53rd Street, New York, 
    N.Y. 10022.
    
    for further information contact: Mary T. Geffroy, Staff Attorney, at 
    (202) 942-0553, 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 registered under the Act as an open-end investment 
    company and is organized as a Maryland corporation. On May 26, 1988, 
    applicant filed with the SEC a registration statement on Form N-1A 
    registering an indefinite number of shares of its Institutional Money 
    Market Fund (``IMM''). The registration statement was declared 
    effective on July 22, 1988 and the initial public offering
    
    [[Page 35274]]
    
    commenced that same day. Applicant registered shares in three 
    additional series: the Institutional Government Fund (``IGF''), the 
    Tax-Exempt Money Market Fund (``TEMMF''), and the U.S. Treasury Money 
    Fund (``TMMF''). IGF was declared effective on December 28, 1990, and 
    TEMMF and TMMF were declared effective on March 1, 1993. As of January 
    31, 1996, IGF was applicant's only outstanding series.
        2. On January 10, 1996, applicant's board of directors approved the 
    liquidation and dissolution and authorized the officers of the 
    applicant to sell all or substantially all of the securities held by 
    the applicant and other properties of the applicant for cash at the 
    fair market value of such assets and properties. The board of 
    director's determination to liquidate the applicant was based upon the 
    perceived inability to raise assets, lack of shareholder interest, and 
    inefficiencies associated with investing limited funds. Also on January 
    10, 1996, applicant's shareholders adopted and ratified resolutions 
    approving and authorizing the liquidation and dissolution of the 
    applicant.
        3. As of January 31, 1996, there were 1,862,808.568 shares of 
    common stock of IGF. These shares had an aggregate net asset value of 
    $17,938,846.49 and a per share net asset value of $9.63. There were no 
    other classes of securities of the applicant outstanding.
        4. Applicant sold all of the securities held by it on February 1, 
    1996. The proceeds from the sale of these securities were 
    $17,938,846.49. Such proceeds were fully distributed in cash to the 
    shareholders on February 1, 1996. Each shareholder received the net 
    asset value of its shares.
        5. Expenses consisting of accounting, administrative, and certain 
    legal expenses were incurred in connection with the liquidation and 
    termination of applicant. These expenses totalled approximately $4,200 
    and were borne by BEA Associates, applicant's investment adviser. No 
    brokerage commissions were incurred in connection with the liquidation.
        6. As of the date of the application, applicant had no 
    shareholders, assets, or liabilities, and was not a party to any 
    litigation or administrative proceeding. Applicant is neither engaged, 
    nor does it propose to engage, in any business activities other than 
    those necessary for the winding-up of its affairs.
        7. Applicant intends to file a notice of termination with the State 
    Department of Taxation and Assessment of Maryland.
        For the SEC, by the Division of Investment Management, under 
    delegated authority.
    Margaret H. McFarland,
    Deputy Secretary.
    [FR Doc. 96-17069 Filed 7-3-96; 8:45 am]
    BILLING CODE 8010-01-M
    
    
    

Document Information

Published:
07/05/1996
Department:
Securities and Exchange Commission
Entry Type:
Notice
Action:
Notice of Application for Deregistration under the Investment Company Act of 1940 (the ``Act'').
Document Number:
96-17069
Dates:
The application was filed on April 15, 1996, and amended on June 11, 1996.
Pages:
35273-35274 (2 pages)
Docket Numbers:
Investment Company Act Release No. 22044, 811-5568
PDF File:
96-17069.pdf