Document ID: SEC-2009-1107-0001
Agency: sec
Document Type: Notice
Title: Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
Posted Date: 2009-08-06T04:00Z

[Federal Register: August 6, 2009 (Volume 74, Number 150)]
[Notices]               
[Page 39350-39352]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06au09-95]                         

[[Page 39350]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-28840]

 
Notice of Applications for Deregistration Under Section 8(f) of 
the Investment Company Act of 1940

July 31, 2009.
    The following is a notice of applications for deregistration under 
section 8(f) of the Investment Company Act of 1940 for the month of 
July, 2009. A copy of each application may be obtained via the 
Commission's Web site by searching for the file number, or an applicant 
using the Company name box, at http://www.sec.gov/search/search.htm or 
by calling (202) 551-8090. An order granting each application will be 
issued unless the SEC orders a hearing. Interested persons may request 
a hearing on any application by writing to the SEC's Secretary at the 
address below and serving the relevant 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 August 25, 2009, 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 who wish to be notified of a hearing may 
request notification by writing to the Secretary, U.S. Securities and 
Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.
    For Further Information Contact: Diane L. Titus at (202) 551-6810, 
SEC, Division of Investment Management, Office of Investment Company 
Regulation, 100 F Street, NE., Washington, DC 20549-4041.

Waddell & Reed Advisors Municipal Bond Fund, Inc. [File No. 811-2657]; 
Waddell & Reed Advisors High Income Fund, Inc. [File No. 811-2907]; 
Waddell & Reed Advisors Cash Management, Inc. [File No. 811-2922]; 
Waddell & Reed Advisors Fixed Income Funds, Inc. [File No. 811-3458]; 
Waddell & Reed Advisors Municipal High Income Fund, Inc. [File No. 811-
4427]; Waddell & Reed Advisors Global Bond Fund, Inc. [File No. 811-
4520]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On January 30, 2009, each applicant 
transferred its assets to Waddell & Reed Advisors Funds, based on net 
asset value. Expenses of approximately $32,052, $66,879, $109,131, 
$29,201, $31,474 and $46,466, respectively, incurred in connection with 
the reorganizations were paid by each applicant.
    Filing Dates: The applications were filed on May 28, 2009 and 
amended on July 24, 2009.
    Applicants' Address: 6300 Lamar Ave., Shawnee Mission, KS 66202-
4200.

Putnam High Yield Municipal Trust [File No. 811-5795]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On February 
19, 2008, common shares of applicant were exchanged for common shares 
of Putnam Managed Municipal Income Trust (the ``Surviving Fund''), 
based on the relative net asset values of each fund. Applicant's 
preferred shares were exchanged for the preferred shares of the 
Surviving Fund based on the aggregate liquidation preference of each 
fund. Expenses of approximately $169,159 incurred in connection with 
the reorganization were paid by applicant.
    Filing Dates: The application was filed on May 28, 2009 and amended 
July 20, 2009.
    Applicant's Address: One Post Office Sq., Boston, MA 02109.

First Investors Single Payment and Periodic Payment Plans for the 
Accumulation of Shares of First Investors Global Fund, Inc. [File No. 
811-575]; First Investors Single Payment and Periodic Payment Plans II 
for Investment in First Investors Global Fund, Inc. [File No. 811-
1359]; First Investors Single Payment and Periodic Payment Plans for 
Investment in First Investors Fund for Income, Inc. [File No. 811-
1472]; First Investors Single Payment and Periodic Payment Plans I for 
Investment in First Investors Global Fund, Inc. [File No. 811-1984]; 
First Investors Periodic Payment Plans for Investment in First 
Investors High; Yield Fund, Inc. [File No. 811-2564]; First Investors 
Single Payment and Periodic Payment Plans for Investment in First 
Investors Insured Tax Exempt Fund, Inc. [File No. 811-2691]; First 
Investors Single Payment and Periodic Payment Plans for Investment in 
First Investors Government Fund, Inc. [File No. 811-4609]

    Summary: Each applicant, a unit investment trust, seeks an order 
declaring that it has ceased to be an investment company. On or about 
February 23, 2009, each applicant made a liquidating distribution to 
its unitholders, based on net asset value. Expenses of $2,755, $1,174, 
$3,634, $252, $797, $1,551 and $1,450, respectively, incurred in 
connection with the liquidations were paid by applicants' sponsor, 
First Investors Corporation.
    Filing Dates: The applications were filed on May 22, 2009 and 
amended on July 16, 2009.
    Applicants' Address: 110 Wall St., New York, NY 10005.

RMR Real Estate Fund [File No. 811-21241]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On June 17, 
2009, applicant transferred its assets to RMR Real Estate Income Fund, 
based on net asset value. Each holder of applicant's preferred shares 
received preferred shares of RMR Real Estate Income Fund having an 
aggregate liquidation preference equal to the aggregate liquidation 
preference attributable to applicant's preferred shares. Expenses of 
$1,064,947 incurred in connection with the reorganization were paid by 
applicant.
    Filing Date: The application was filed on June 18, 2009.
    Applicant's Address: 400 Centre St., Newton, MA 02458.

Church Capital Investment Trust [File No. 811-21753]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On March 25, 2009, applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of $24,328 incurred in connection with the liquidation were 
paid by Church Capital Management, LLC, applicant's investment adviser.
    Filing Date: The application was filed on July 7, 2009.
    Applicant's Address: The PNC Financial Services Group, Two PNC 
Plaza, 620 Liberty Ave., Pittsburgh, PA 15222.

Seligman Select Municipal Fund, Inc. [File No. 811-5976]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On March 12, 
2009, applicant redeemed all of its outstanding shares of preferred 
stock. On March 27, 2009, applicant transferred its assets to National 
Municipal Class, a series of Seligman Municipal Fund Series, Inc., 
based on net asset value. Expenses of $219,836 incurred in connection 
with the reorganization were paid by

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RiverSource Investments, LLC, applicant's investment adviser.
    Filing Date: The application was filed on June 10, 2009.
    Applicant's Address: 901 Marquette Ave. South, Suite 2810, 
Minneapolis, MN 55402-3268.

Morgan Stanley Nasdaq-100 Index Fund [File No. 811-10343]; Morgan 
Stanley Allocator Fund [File No. 811-21248]; Morgan Stanley 
Institutional Strategies Fund [File No. 811-21899]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On June 27, 2008, each applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of approximately $6,636, $4,936 and $2,690, respectively, 
incurred in connection with the liquidations were paid by Morgan 
Stanley Investment Advisors Inc., applicants' investment adviser.
    Filing Date: The applications were filed on July 6, 2009.
    Applicants' Address: c/o Morgan Stanley Investment Advisors Inc., 
522 Fifth Ave., New York, NY 10036.

Fiduciary/Claymore Dynamic Equity Fund [File No. 811-21687]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On May 29, 
2009, applicant made a liquidating distribution to its shareholders, 
based on net asset value. Expenses of $404,609 incurred in connection 
with the liquidation were paid by applicant.
    Filing Date: The application was filed on June 29, 2009.
    Applicant's Address: 2455 Corporate West Dr., Lisle, IL 60532.

Putnam Tax Smart Funds Trust [File No. 811-9289]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On December 29, 2008, applicant transferred 
its assets to Putnam Investors Fund, based on net asset value. Expenses 
of approximately $66,055 incurred in connection with the reorganization 
were paid by applicant.
    Filing Date: The application was filed on June 29, 2009.
    Applicant's Address: One Post Office Sq., Boston, MA 02109.

Putnam Municipal Bond Fund [File No. 811-7270]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On February 
22, 2008, applicant's preferred shares were exchanged for preferred 
shares of Putnam Municipal Opportunities Trust based on the aggregate 
liquidation preference of each fund. On February 25, 2008, applicant 
transferred its assets to Putnam Municipal Opportunities Trust, based 
on net asset value. Expenses of approximately $261,103 incurred in 
connection with the reorganization were paid by applicant.
    Filing Date: The application was filed on June 29, 2009.
    Applicant's Address: One Post Office Sq., Boston, MA 02109.

Morgan Stanley American Franchise Fund [File No. 811-21699]

    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 a public offering or engage 
in business of any kind.
    Filing Date: The application was filed on June 17, 2009.
    Applicant's Address: c/o Morgan Stanley Investment Advisors Inc., 
522 Fifth Ave., New York, NY 10036.

RMR Hospitality and Real Estate Fund [File No. 811-21502]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On June 19, 
2009, applicant transferred its assets to RMR Real Estate Income Fund, 
based on net asset value. Each holder of applicant's preferred shares 
received preferred shares of RMR Real Estate Income Fund having an 
aggregate liquidation preference equal to the aggregate liquidation 
preference attributable to applicant's preferred shares. Expenses of 
$334,479 incurred in connection with the reorganization were paid by 
applicant.
    Filing Date: The application was filed on June 22, 2009.
    Applicant's Address: 400 Centre St., Newton, MA 02458.

Claymore/Raymond James SB-1 Equity Fund [File No. 811-21863]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On September 
3, 2008, applicant transferred its assets to Claymore/Raymond James SB-
1 Equity ETF, a series of Claymore Exchange-Traded Fund Trust, based on 
net asset value. Expenses of $390,462 incurred in connection with the 
reorganization were paid by applicant and Claymore Advisors, LLC, 
applicant's investment adviser.
    Filing Dates: The application was filed on July 2, 2009 and amended 
on July 10, 2009.
    Applicant's Address: 2455 Corporate West Dr., Lisle, IL 60532.

Skyhawk Funds Trust [File No. 811-21957]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 15, 2009, applicant made a liquidating 
distribution to its shareholders, based on net asset value. Expenses of 
approximately $1,300 incurred in connection with the liquidation were 
paid by Skyhawk Capital Management, LLC, applicant's investment 
adviser.
    Filing Date: The application was filed on July 15, 2009.
    Applicant's Address: 8000 Town Centre Dr., Suite 400, Broadview 
Heights, OH 44147.

Hatteras Global Private Equity Partners, LLC [File No. 811-22237]; 
Hatteras Global Private Equity Partners Master Fund, LLC [File No. 811-
22256]

    Summary: Each applicant, a closed-end investment company, seeks an 
order declaring that it has ceased to be an investment company. 
Applicants have never made a public offering of their securities and do 
not propose to make a public offering or engage in business of any 
kind.
    Filing Date: The applications were filed on July 15, 2009.
    Applicants' Address: 8540 Colonnade Center Dr., Suite 401, Raleigh, 
NC 27615.

Cash Management Trust of America [File No. 811-2380]; U.S. Treasury 
Money Fund of America [File No. 811-6235]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On July 10, 2009, each applicant 
transferred its assets to American Funds Money Market Fund, based on 
net asset value. Expenses of $1,317,159 and $260,568, respectively, 
incurred in connection with the reorganizations were paid by each 
applicant.
    Filing Date: The applications were filed on July 13, 2009.
    Applicants' Address: 333 South Hope St., Los Angeles, CA 90071.

Morgan Stanley Multi-Asset Class Fund [File No. 811-8283]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On July 25, 2008, applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of $30,445

[[Page 39352]]

incurred in connection with the liquidation were paid by Morgan Stanley 
Investment Advisors, Inc., applicant's investment adviser.
    Filing Date: The application was filed on July 6, 2009.
    Applicant's Address: c/o Morgan Stanley Investment Advisors Inc., 
522 Fifth Ave., New York, NY 10036.

Old RMR Asia Pacific Real Estate Fund [File No. 811-21856]; RMR Asia 
Real Estate Fund [File No. 811-22007]

    Summary: Each applicant, a closed-end investment company, seeks an 
order declaring that it has ceased to be an investment company. On June 
16, 2009, each applicant transferred its assets to RMR Asia Pacific 
Real Estate Fund, based on net asset value. Expenses of $76,184 and 
$196,584, respectively, incurred in connection with the reorganizations 
were paid by applicants.
    Filing Dates: The applications were filed on June 17, 2009.
    Applicants' Address: 400 Centre St., Newton, MA 02458.

JNLNY Variable Fund I LLC [File No. 811-9357]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. At a meeting held August 21 and August 22, 
2007, Applicant's Board of Managers approved the liquidation and 
deregistration of Applicant after all of Applicant's assets had 
previously been distributed pursuant to a merger of each series of 
Applicant into a series of another fund. Applicant has no remaining 
shareholders. Applicant's adviser, Jackson National Asset Management, 
LLC, paid all expenses incurred in connection with the liquidation and 
deregistration.
    Filing Dates: The application was filed on January 22, 2009 and 
amended on June 23, 2009.
    Applicant's Address: JNLNY Variable Fund I LLC, 1 Corporate Way, 
Lansing, MI 48951.

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

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-18765 Filed 8-5-09; 8:45 am]

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