57160 Federal Register / Vol. 73, No. 191 / Wednesday, October 1, 2008 / Notices 

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 498, File No. 270–435, 

OMB Control No. 3235–0488. 

Notice is hereby given that, pursuant to the 

Paperwork Reduction Act of 1995 (‘‘Act’’) (44 

U.S.C. 3501 et seq. ), the Securities and 

Exchange Commission (‘‘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 498 of the Securities Act of 1933 (17 

CFR 230.498) permits open-end management 

investment companies (or a series of an 

investment company organized as a series 

company, which offers one or more series of 

shares representing interests in separate 

investment portfolios) (‘‘funds’’) to provide 

investors with a ‘‘profile’’ that contains a 

summary of key information about a fund, 

including the fund’s investment objectives, 

strategies, risks and performance, and fees, in 

a standardized format. The profile provides 

investors the option of buying fund shares 

based on the information in the profile or 

reviewing the fund’s prospectus before 

making an investment decision. Investors 

purchasing shares based on a profile receive 

the fund’s prospectus prior to or with 

confirmation of their investment in the fund. 

Consistent with the filing requirement of a 

fund’s prospectus, a profile must be filed 

with the Commission thirty days before first 

use. Such a filing allows the Commission to 

review the profile for compliance with Rule 

498. Compliance with the rule’s standardized 

format assists investors in evaluating and 

comparing funds. 

It is estimated that approximately 16 initial 

profiles and 274 updated profiles are filed 

with the Commission annually. The 

Commission estimates that each profile 

contains on average 1.25 portfolios, resulting 

in 20 portfolios filed annually on initial 

profiles and 343 portfolios filed annually on 

updated profiles. The number of burden 

hours for preparing and filing an initial 

profile per portfolio is 25. The number of 

burden hours for preparing and filing an 

updated profile per portfolio is 10. The total 

burden hours for preparing and filing initial 

and updated profiles under Rule 498 is 3,930, 

representing an increase of 749 hours from 

the prior estimate of 3,181. The increase in 

burden hours is attributable to the higher 

number of profiles actually prepared and 

filed as compared to the previous estimates. 

The estimates of average burden hours are 

made solely for the purposes of the Act and 

are not derived from a comprehensive or 

even representative survey or study of the 

cost of Commission rules and forms. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the agency, 

including whether the information will have 

practical utility; (b) the accuracy of the 

agency’s estimate of the burden 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 

Lewis W. Walker, Acting 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. 

Dated: September 24, 2008 

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–22969 Filed 9–30–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

28407; 812–13531] 

Aberdeen Asset Management Inc., et 

al.; Notice of Application 

September 25, 2008. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of an application under 

section 6(c) of the Investment Company 

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

from rule 12d1–2(a) under the Act. 

SUMMARY OF APPLICATION: Applicants 

request an order to permit funds of 

funds relying on rule 12d1–2 under the 

Act to invest in certain financial 

instruments. 

APPLICANTS: Aberdeen Asset 

Management Inc. (the ‘‘Adviser’’), 

Aberdeen Funds (the ‘‘Trust’’) and 

Aberdeen Fund Distributors, LLC (the 

‘‘Distributor’’). 

FILING DATES: The application was filed 

on May 8, 2008. Applicants have agreed 

to file an amendment during the notice 

period, the substance of which is 

reflected in this notice. 

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 20, 2008, 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, c/o Lucia Sitar, Aberdeen 

Asset Management Inc., 1735 Market 

Street, 37th Floor, Philadelphia, PA 

19103. 

FOR FURTHER INFORMATION CONTACT: 

Steven I. Amchan, Attorney Adviser, at 

(202) 551–6826, or Janet M. Grossnickle, 

Assistant Director, 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 for a fee at the 

Commission’s Public Reference Room, 

100 F Street, NE., Washington, DC 

20549–1520 (telephone (202) 551–5850). 

Applicants’ Representations 

1. The Trust is organized as a 

Delaware statutory trust and is 

registered under the Act as an open-end 

management investment company. The 

Adviser is organized as a Delaware 

corporation and is registered as an 

investment adviser under the 

Investment Advisers Act of 1940, as 

amended. The Adviser serves as the 

investment adviser to each existing 

series of the Trust (together with future 

series of the Trust, the ‘‘Funds’’). The 

Distributor, a wholly-owned subsidiary 

of the Adviser, is organized as a 

Delaware limited liability company and 

is registered as a broker-dealer under the 

Securities Exchange Act of 1934, as 

amended (‘‘Exchange Act’’). The 

Distributor serves as the principal 

underwriter to each Fund. The Trust, 

the Funds, and all other existing or 

future open-end management 

investment companies and their series 

advised by the Adviser or any entity 

controlling, controlled by or under 

common control with the Adviser that 

are registered under the Act, and that 

are in the same group of investment 

companies, as defined in section 

12(d)(1)(G) of the Act, as the Trust, 

collectively are referred to as the 

‘‘Applicant Funds.’’ Applicants request 

the exemption to the extent necessary to 

permit any Applicant Fund that may 

invest in other Applicant Funds in 

reliance on Section 12(d)(1)(G) of the 


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