[Federal Register Volume 61, Number 108 (Tuesday, June 4, 1996)]
[Notices]
[Pages 28254-28255]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13847]



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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 21991; 811-6363]


The SuperTrust Trust for Capital Market Fund, Inc. Shares; Notice 
of Application for Deregistration

May 29, 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: The SuperTrust Trust for Capital Market Fund, Inc. Shares.

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 February 23, 1996 and 
amended on May 17, 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 Security 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 June 24, 1996, 
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 Fifth Street, N.W., Washington, D.C. 
20549. Applicant: The SuperTrust Trust for Capital Market Fund, Inc. 
Shares, 523 West Sixth St., Suite 220, Los Angeles, CA 90014.

FOR FURTHER INFORMATION CONTACT: Mercer E. Bullard, Staff Attorney, 
(202) 942-0565, or Alison E. Baur, Branch Chief, (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 a unit investment trust organized under New York 
law in two series: the U.S. Treasury Money Market Trust for U.S. 
Treasury Money Market Shares (``Money Market Trust'') and the Index 
Trust for Index Shares (``Index Trust'' or, collectively with the Money 
Market Trust, ``Subtrusts''). According to SEC records, applicant 
registered under the Act on July 19, 1991, and filed a registration 
statement pursuant to section 8(b) of the Act on July 22, 1991. On 
November 29, 1988, applicant filed a registration statement under the 
Securities Act of 1933, which was declared effective on May 29, 1992. 
Applicant commenced an initial public offering of its shares on 
November 5, 1992.
    2. The Capital Market Fund, Inc. (``Fund'') served as the 
investment vehicle for applicant. The Fund is a registered management 
investment company organized in two series: the U.S. Treasury Money 
Market Series (``Money Market Series'') and the Index Series.
    3. On November 5, 1995, the Subtrusts terminated in accordance with 
their respective Reference Trust Indentures and applicant's prospectus. 
Shareholder authorization was not required.
    4. The Subtrusts' securityholders had the right to direct the 
voting of shares of their respective Series. On September 20, 1995, 
applicant's securityholders voted to amend the Fund's Articles of 
Incorporation to add a provision that would permit the Board of 
Directors (the ``Board'') to redeem shares of each Series in connection 
with its liquidation. On the same date, the Board authorized the 
redemption of all shares of the Fund.
    5. On November 3, 1995, an investor holding 98 percent of the Index 
Trust redeemed all of its shares of the Trust in exchange for shares of 
the Index Series, and concurrently redeemed all of these shares, the 
proceeds of which were distributed primarily ``in kind.'' All stocks 
held by the Index Series were distributed to this investor. The only 
remaining assets of the Index Series were cash and cash equivalents, 
the accrued income from which through November 5, 1995, was included in 
the net asset value calculated on November 3, 1995. Similarly, accrued 
income through November 5, 1995, was included in the net asset value of 
the Money Market Series calculated on November 3, 1995. The net asset 
values for each Series after November 3, 1995 thus did not change prior 
to the termination of the Fund.
    6. On November 5, 1995, the Subtrusts terminated and their shares 
were redeemed in exchange for shares of their respective Series. 
Concurrently, all shares of each Series were redeemed at their net 
asset value determined on November 3, 1995. At the time of the 
redemption, all shares of each Series were held by the respective 
Subtrust. All redemption proceeds were in cash and were distributed to 
securityholders on November 7, 1995.
    7. Applicant has no assets, or any debts or other liabilities. 
Applicant incurred legal expenses of $1,638 in connection with the 
liquidation of its securities, which were allocated between the Money 
Market Trust and Index Trust in proportion to their relative aggregate 
net assets. Expenses in the amount of $20,998 incurred in connection 
with the liquidation of the Fund were paid by the Fund.
    8. There are no securityholders of applicant to whom distributions 
in complete liquidation of their interests have not been made. 
Applicant is not a

[[Page 28255]]

party to any litigation or administrative proceeding. Applicant has no 
securityholders and 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.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-13847 Filed 6-3-96; 8:45 am]
BILLING CODE 8010-01-M