Document Headings

                    Document headings vary by document type but may contain                    the following:                  
                -                       the agency or agencies that issued and signed a document                    
                -                       the number of the CFR title and the number of each part                      the document amends, proposes to amend, or is directly                      related to                    
                -                       the agency docket number / agency internal file number                    
                -                       the RIN which identifies each regulatory action listed in                      the Unified Agenda of Federal Regulatory and Deregulatory                      Actions                    

                    See the                                          Document Drafting Handbook                                        for more details.                  

###### Securities and Exchange Commission

          - [Release No. IC-24671]

# FOR FURTHER INFORMATION CONTACT:

Diane L. Titus, at (202) 942-0564, SEC, Division of Investment Management, Office of Investment Company Regulation, 450 Fifth Street, NW, Washington, DC 20549-0506.

## Strategist Income Fund, Inc. [File No. 811-7305]

*Summary:*                         Applicant, whose three series are feeder funds in a master/feeder structure, seeks an order declaring that it has ceased to be an investment company. On July 14, 2000, applicant's series transferred their assets to the following corresponding funds: AXP Federal Income Fund, Inc., AXP Extra Income Fund, Inc., and AXP Selective Fund, Inc., based on net asset value. Expenses of $14,460 incurred in                               ( print page 59475)                            connection with the reorganization were paid by American Express Financial Corporation, investment adviser for the master funds.                    

*Filing Date:*                         The application was filed on August 17, 2000.                    

*Applicant's Address:*                         200 AXP Financial Center, Minneapolis, Minnesota 55474.                    

## Strategist Growth Fund, Inc. [File No. 811-7401]

*Summary:*                         Applicant, whose three series are feeder funds in a master/feeder structure, seeks an order declaring that it has ceased to be an investment company. On July 14, 2000, applicant's series transferred their assets to the following corresponding funds: AXP Growth Series, Inc. and AXP New Dimensions Fund, Inc., based on net asset value. Expenses of $14,460 incurred in connection with the reorganization were paid by American Express Financial Corporation, investment adviser for the master funds.                    

*Filing Date:*                         The application was filed on August 17, 2000.                    

*Applicant's Address:*                         200 AXP Financial Center, Minneapolis, Minnesota 55474.                    

## Strategist Growth and Income Fund, Inc. [File No. 811-7403]

*Summary:*                         Applicant, whose four series are feeder funds in a master/feeder structure, seeks an order declaring that it has ceased to be an investment company. On July 14, 2000, applicant's series transferred their assets to the following corresponding funds: AXP Investment Series, Inc., AXP Stock Fund, Inc., and AXP Managed Series, Inc., based on net asset value. Expenses of $19,280 incurred in connection with the reorganization were paid by American Express Financial Corporation, investment adviser for the master funds.                    

*Filing Date:*                         The application was filed on August 17, 2000.                    

*Applicant's Address:*                         200 AXP Financial Center, Minneapolis, Minnesota 55474.                    

## Strategist World Fund, Inc. [File No. 811-7405]

*Summary:*                         Applicant, whose four series are feeder funds in a master/feeder structure, seeks an order declaring that it has ceased to be an investment company. On July 14, 2000, applicant's series transferred their assets to corresponding series of AXP Global Series, Inc., based on net asset value. Expenses of $19,280 incurred in connection with the reorganization were paid by American Express Financial Corporation, investment adviser for the master funds.                    

*Filing Date:*                         The application was filed on August 17, 2000.                    

*Applicant's Address:*                         200 AXP Financial Center, Minneapolis, Minnesota 55474.                    

## Strategist Tax-Free Income Fund, Inc. [File No. 811-7407]

*Summary:*                         Applicant, a feeder fund in a master/feeder structure, seeks an order declaring that it has ceased to be an investment company. On July 14, 2000, applicant transferred its assets to AXP High Yield Tax-Exempt Fund, Inc., based on net asset value. Expenses of $4,820 incurred in connection with the reorganization were paid by American Express Financial Corporation, investment adviser for the master fund.                    

*Filing Date:*                         The application was filed on August 17, 2000.                    

*Applicant's Address:*                         200 AXP Financial Center, Minneapolis, Minnesota 55474.                    

## The Russia Growth Fund, Inc. [File No. 811-8456]

*Summary:*                         Applicant seeks an order declaring that it has ceased to be an investment company. Applicant has never made a public offering of its securities and does not propose to make any public offering or engage in business of any kind.                    

*Filing Date:*                         The application was filed on July 19, 2000, and amended on September 26, 2000.                    

*Applicant's Address:*                         Fleming International Asset Management Ltd., 25 Coptall Avenue, London EC2R 7DR, England.                    

## Municipal Fund for Temporary Investment [File No. 811-2919]; Municipal Fund for California Investors, Inc. [File No. 811-3574]; and Municipal Fund for New York Investors, Inc. [File No. 811-3678]

*Summary:*                         Each applicant seeks an order declaring that it has ceased to be an investment company. On February 10, 1999, each applicant transferred its assets to Provident Institutional Funds based on net asset value. Applicants incurred no expenses in connection with the reorganizations.                    

*Filing Dates:*                         The applications were filed on August 4, 2000, and amended on September 22, 2000.                    

*Applicants' Address:*                         400 Bellevue Parkway, Wilmington, Delaware 19809.                    

## Floating Rate Portfolio [File No. 811-7969]

*Summary:*                         Applicant seeks an order declaring that it has ceased to be an investment company. On March 31, 2000, applicant made a liquidating distribution to its shareholders based on net asset value. Expenses of $10,730 incurred in connection with the liquidation were paid by AIM Advisors, Inc., applicant's investment adviser.                    

*Filing Date:*                         The application was filed on September 14, 2000.                    

*Applicant's Address:*                         11 Greenway Plaza, Suite 100, Houston, Texas 77046-1173.                    

## GT Global Floating Rate Fund, Inc.   (d/b/a AIM Floating Rate Fund) [File No. 811-7957]

*Summary:*                         Applicant seeks an order declaring that it has ceased to be an investment company. On March 31, 2000, applicant transferred its assets to AIM Floating Rate Fund based on net asset value. Applicant paid $55,355 in expenses incurred in connection with the reorganization, and applicant's investment adviser, AIM Advisors, Inc., paid the remaining $198,813.                    

*Filing Date:*                         The application was filed on September 14, 2000.                    

*Applicant's Address:*                         11 Greenway Plaza, Suite 100, Houston, Texas 77046-1173.                    

## Deep Discount Partners Fund Incorporated [File No. 811-9683]

*Summary:*                         Applicant seeks an order declaring that it has ceased to be an investment company.  Applicant has not made a public offering of its securities, is not now engaged, or intending to engage, in any business actiities other than those necessary for winding up its affairs.                    

*Filing Date:*                         The application was filed on September 19, 2000.                    

*Applicant's Address:*                         11 South La Salle Street, Chicago, Illinois 60603.                    

## Excelsior Funds [File No. 811-8132]

*Summary:*                         Applicant seeks an order declaring that it has ceased to be an investment company. On December 16, 1999, applicant transferred its assets to Excelsior Funds, Inc.'s Money Fund based on net asset value. Expenses of $314,616 incurred in connection with the reorganization were paid by the acquiring fund's investment advisers, United States Trust Company of New York and U.S. Trust Company.                    

*Filing Date:*                         The application was filed on September 11, 2000.                    

*Applicant's Address:*                         73 Tremont Street, Boston, Massachusetts 02108-3913.                    

## Marketwatch Funds [File No. 811-6696]

*Summary:*                         Applicant seeks an order declaring that it has ceased to be an investment company. On March 27, 1998, applicant transferred its assets to                               ( print page 59476)                            The Wachovia Funds and The Wachovia Municipal Funds based on net asset value. All expenses incurred in connection with the reorganization were paid by Wachovia Bank, N.A., applicant's investment adviser.                    

*Filing Date:*                         The application was filed on September 14, 2000.                    

*Applicant's Address:*                         3435 Stelzer Road, Columbus, Ohio 43219-3035.                    

## Dreyfus New York Insured Tax Exempt Bond Fund [File No. 811-4884]; and Dreyfus Asset Allocation Fund, Inc. [File No. 811-7710]

*Summary:*                         Each applicant seeks an order declaring that it has ceased to be an investment company. On September 23, 1999, Dreyfus New York Insured Tax Exempt Bond Fund transferred its assets to General New York Municipal Bond Fund, Inc., based on net asset value. On the same date, Dreyfus Asset Allocation Fund, Inc. transferred its assets to Dreyfus LifeTime Portfolios, Inc.—Growth and Income Portfolio, based on net asset value. Expenses of $15,000 and $35,000, respectively, incurred in connection with the reorganizations were paid by each applicant.                    

*Filing Date:*                         The applications were filed on August 24, 2000.                    

*Applicant's Address:*                         200 Park Avenue, New York, New York 10166.                    

For the Commission, by the Division of Investment Management, pursuant to delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00-25590  Filed 10-4-00; 8:45 am]

BILLING CODE 8010-01-M