Federal Register / Vol. 74, No. 192 / Tuesday, October 6, 2009 / Notices 51343 

1Most money market funds seek to maintain a 

stable net asset value per share of $1.00, but a few 

seek to maintain a stable net asset value per share 

of a different amount, e.g., $10.00. For convenience, 

we generally refer to the stable net asset value of 

$1.00 per share. 2Our staff estimates that approximately 79 

percent of money market funds participated in the 

Guarantee Program, and that the money market 

funds that did not participate in the program were 

mostly funds that invest predominately in U.S. 

Treasury and U.S. Government securities. 3See Press Release, U.S. Department of the 

Treasury, Treasury Announces Guaranty Program 

for Money Market Funds (Sept. 19, 2008), available 

at http://www.treas.gov/press/releases/hp1147.htm. 

4We understand that the required information is 

currently maintained by money market funds 

pursuant to other regulatory requirements or in the 

ordinary course of business. Accordingly, for the 

purposes of our analysis, we do not ascribe any 

time to gathering the required information. 

5Because one report is required each week, a 

fund would submit 52 reports in one year. The first 

report would require 6 hours and subsequent 

reports would require 4 hours each. The difference 

between the hours is due to the fact that funds 

generally would not incur the additional start-up 

time applicable to the first report. The annual 

burden of the reporting requirement would be 210 

hours (1 report × 6 hours = 6 hours, 51 reports × 

4 hours = 204 hours, and 6 hours + 204 hours = 

210 hours). 210 hours × 10 (the estimated number 

of money market funds that will be required to 

submit portfolio schedules under the rule each 

year) = 2,100 hours. 

Rule 17f–1(b) is a registration 

obligation only. Registering under Rule 

17f–1(b) is mandatory to obtain the 

benefit of a central database that stores 

information about missing, lost, 

counterfeit, or stolen securities for the 

Program. Reporting institutions required 

to register under Rule 17f–1(b) will not 

be kept confidential; however, the 

Program database will be kept 

confidential. Please note that an agency 

may not conduct or sponsor, and a 

person is not required to respond to, a 

collection of information unless it 

displays a currently valid control 

number. 

Comments should be directed to: 

(i) Desk Officer for the Securities and 

Exchange Commission, Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, 

Room 10102, New Executive Office 

Building, Washington, DC 20503 or by 

sending an e-mail to: 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Shirley 

Martinson, 6432 General Green Way, 

Alexandria, Virginia 22312 or send an 

e-mail to: PRA_Mailbox@sec.gov. 

Comments must be submitted within 30 

days of this notice. 

Dated: September 30, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–23996 Filed 10–5–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 30b1–6T, SEC File No. 270–599, OMB 

Control No. 3235–0652. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission (the 

‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget for extension 

and approval. 

Rule 30b1–6T (17 CFR 270.30b1–6T) 

under the Investment Company Act of 

1940 (the ‘‘Act’’) is entitled: ‘‘Weekly 

Portfolio Report for Certain Money 

Market Funds.’’ The rule requires that if 

the market-based net asset value 

(‘‘market-based NAV’’) of a registered 

investment company, or series thereof, 

that is regulated as a money market fund 

under rule 2a–7 (17 CFR 270.2a–7) on 

any business day is less than $.9975 1

that money market fund must promptly 

notify the Securities and Exchange 

Commission (‘‘Commission’’) by 

electronic mail and provide a portfolio 

schedule to the Commission within one 

business day. Subsequently, the money 

market fund must submit a portfolio 

schedule within two business days after 

the end of each week until the fund’s 

market-based NAV at the end of the 

week equals or exceeds $.9975. The 

portfolio schedule must be sent 

electronically in Microsoft Excel format. 

The purpose of the rule is to facilitate 

the Commission’s oversight of money 

market funds and ensure that the 

Commission receives substantially 

similar information to that which it 

received from money market funds 

participating in the Treasury 

Department’s Temporary Guarantee 

Program for Money Market Funds 

(‘‘Guarantee Program’’), which had 

guaranteed the $1.00 share value of 

accounts held by investors as of 

September 19, 2008 in participating 

money market funds.2 The Guarantee 

Program was established to help 

stabilize money market funds following 

a period of substantial redemptions that 

threatened the ability of some money 

market funds to maintain the $1.00 

share value.3 The program expired on 

September 18, 2009. 

Commission staff estimates estimate, 

based on past experience under the 

Guarantee Program, that 10 money 

market funds are required by rule 30b1– 

6T to provide weekly reports disclosing 

certain information regarding the fund’s 

portfolio holdings. Staff estimates that 

money market funds require an average 

of approximately 6 burden hours to 

compile and electronically submit the 

initial required portfolio holdings 

information, and an average of 

approximately 4 burden hours in 

subsequent reports.4 Based on these 

estimates, we estimate that the annual 

burden will be 210 hours per money 

market fund that is required to provide 

the information and an aggregate annual 

burden of 2100 hours for all of the 

money market funds required to submit 

portfolio schedules.5

The estimate of average burden hours 

is made solely for the purposes of the 

Paperwork Reduction Act, and is not 

derived from a comprehensive or even 

a representative survey or study of the 

costs of Commission rules. An agency 

may not conduct or sponsor, and a 

person is not required to respond to a 

collection of information unless it 

displays a currently valid control 

number. Compliance with rule 30b1–6T 

is mandatory for any money market 

fund whose market-based NAV is less 

than $.9975. Responses to the disclosure 

requirements will be kept confidential. 

The Commission requests written 

comments on: (a) Whether the 

collections of information are necessary 

for the proper performance of the 

functions of the Commission, including 

whether the information has practical 

utility; (b) the accuracy of the 

Commission’s estimate of the burdens of 

the collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information collected; and (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

Please direct your written comments 

to Charles Boucher, Director/CIO, 

Securities and Exchange Commission, 

c/o Shirley Martinson, 6432 General 

Green Way, Alexandria, VA 22312; or 

send an e-mail to: 

PRA_Mailbox@sec.gov. 


jlentini on DSKJ8SOYB1PROD with NOTICES
51344 Federal Register / Vol. 74, No. 192 / Tuesday, October 6, 2009 / Notices 

1All registered closed-end investment companies 

that currently intend to rely on the order are named 

as applicants. Applicants request that the order also 

apply to each registered closed-end investment 

company that in the future: (a) Is advised by the 

Investment Adviser (including any successor in 

interest) or by an entity controlling, controlled by, 

or under common control (within the meaning of 

section 2(a)(9) of the Act) with the Investment 

Adviser; and (b) complies with the terms and 

conditions of the application (included in the term 

‘‘Funds’’). A successor in interest is limited to 

entities that result from a reorganization into 

another jurisdiction or a change in the type of 

business organization. 

Dated: September 30, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–23995 Filed 10–5–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

28938; File No. 812–13030] 

Evergreen Income Advantage Fund, et 

al.; Notice of Application 

September 30, 2009. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of application under 

section 6(c) of the Investment Company 

Act of 1940 (‘‘Act’’) for an exemption 

from section 19(b) of the Act and rule 

19b–1 under the Act. 

SUMMARY OF APPLICATION: Applicants 

request an order to permit a registered 

closed-end investment company to 

make periodic distributions of long-term 

capital gains with respect to its common 

shares as often as monthly in any one 

taxable year, and as frequently as 

distributions are specified by or in 

accordance with the terms of its 

preferred shares. 

APPLICANTS: Evergreen Income 

Advantage Fund (‘‘EIAF’’), Evergreen 

Multi-Sector Income Fund (‘‘EMSIF’’), 

Evergreen Utilities and High Income 

Fund (‘‘EUHIF’’), Evergreen 

International Balanced Income Fund 

(‘‘EIBIF’’), and Evergreen Global 

Dividend Opportunity Fund (‘‘EGDOF’’) 

(each a ‘‘Fund’’ and collectively, the 

‘‘Funds’’); and Evergreen Investment 

Management Company, LLC (the 

‘‘Investment Adviser’’). 

FILING DATES: The application was filed 

on October 14, 2003, and amended on 

October 28, 2008, June 29, 2009, and 

September 29, 2009. 

HEARING OR NOTIFICATION OF HEARING: An 

order granting the application will be 

issued unless the Commission orders a 

hearing. Interested persons may request 

a hearing by writing to the 

Commission’s Secretary and serving 

applicants with a copy of the request, 

personally or by mail. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on October 26, 2009, and 

should be accompanied by proof of 

service on applicants, 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 

Commission’s Secretary. 

ADDRESSES: Secretary, Securities and 

Exchange Commission, 100 F Street, 

NE., Washington, DC 20549–1090; 

Applicants: Evergreen Income 

Advantage Fund, 200 Berkeley Street, 

Boston, MA 02116. 

FOR FURTHER INFORMATION CONTACT: 

Christine Y. Greenlees, Senior Counsel, 

at (202) 551–6879, or Mary Kay Frech, 

Branch Chief, at (202) 551–6821 

(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 via the Commission’s 

Web site by searching for the file 

number, or for an applicant using the 

Company name box, at http:// 

www.sec.gov/search/search.htm, or by 

calling (202) 551–8090. 

Applicants’ Representations 

1. Each of the Funds is a closed-end 

management investment company 

registered under the Act and organized 

as a Delaware statutory trust.1 EIAF’s 

primary investment objective is to seek 

a high level of income. EIAF’s common 

shares are listed on the NYSE Amex. 

EIAF currently has six series of 

preferred shares outstanding, which are 

not listed on a national securities 

exchange. EMSIF’s investment objective 

is to seek a high level of current income. 

EMSIF’s common shares are listed on 

the NYSE Amex. EIAF currently has five 

series of preferred shares outstanding, 

which are not listed on a national 

securities exchange. EUHIF’s 

investment objective is to seek a high 

level of current income and moderate 

capital growth. EUHIF’s common shares 

are listed on the NYSE Amex. EIBIF’s 

investment objective is to seek to 

provide a high level of income. EIBIF’s 

common shares are listed on the New 

York Stock Exchange (‘‘NYSE’’). 

EGDOF’s primary investment objective 

is to seek a high level of current income. 

EGDOF’s common shares are listed on 

the NYSE. Applicants believe that the 

shareholders of each Fund are generally 

conservative, dividend-sensitive 

investors who desire current income 

periodically and may favor a fixed 

distribution policy. 

2. The Investment Adviser, a 

subsidiary of Wells Fargo, a bank 

holding company, is registered under 

the Investment Advisers Act of 1940 

(‘‘Advisers Act’’). The Investment 

Adviser has provided investment 

advisory services to each Fund since its 

inception. Each Fund will be advised by 

investment advisers that are registered 

under the Advisers Act. 

3. Applicants state that prior to 

relying on the order, the board of 

trustees (the ‘‘Board’’) of each Fund, 

including a majority of the members of 

the Board who are not ‘‘interested 

persons’’ of the Fund as defined in 

section 2(a)(19) of the Act (the 

‘‘Independent Trustees’’), will review 

information regarding the purpose and 

terms of a proposed distribution policy, 

the likely effects of such policy on such 

Fund’s long-term total return (in 

relation to market price and net asset 

value (‘‘NAV’’) per common share) and 

the relationship between such Fund’s 

distribution rate on its common shares 

under the policy and such Fund’s total 

return (in relation to NAV per share). 

Applicants state that prior to relying on 

the requested order the Independent 

Trustees also will consider what 

conflicts of interest the Investment 

Adviser and the affiliated persons of the 

Investment Adviser and each such Fund 

might have with respect to the adoption 

or implementation of such policy. 

Applicants further state that prior to 

relying on the requested order, and after 

considering such information, the 

Board, including the Independent 

Trustees, of each Fund will approve a 

distribution policy with respect to its 

Fund’s common shares (the ‘‘Plan’’) and 

will determine that such Plan is 

consistent with such Fund’s investment 

objective(s) and in the best interests of 

such Fund’s common shareholders. 

4. Applicants state that the purpose of 

each Fund’s Plan is to permit such Fund 

to distribute over the course of each 

year, through periodic distributions as 

nearly equal as practicable and any 

required special distributions, an 

amount closely approximating the total 

taxable income of such Fund during 

such year. Applicants note that under 

the Plan, each Fund would distribute to 

its respective common shareholders a 

fixed monthly percentage of the market 

price of such Fund’s common shares at 

a particular point in time or a fixed 

monthly percentage of NAV at a 

particular time or a fixed monthly 

amount, any of which may be adjusted 


jlentini on DSKJ8SOYB1PROD with NOTICES