Document ID: SEC-2015-0293-0001
Agency: sec
Document Type: Notice
Title: Exemptions under the Investment Company Act
Posted Date: 2015-02-19T05:00Z

[Federal Register Volume 80, Number 33 (Thursday, February 19, 2015)]
[Notices]
[Page 8913]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-03404]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 31456]

Investment Company Act of 1940

 February 12, 2015.
    In the Matter of Wilshire Mutual Funds, Inc., Wilshire Variable 
Insurance Trust, Wilshire Associates Incorporated, SEI Investments 
Distribution Co., 1299 Ocean Avenue, Suite 700, Santa Monica, CA 
90401, (812-14350) :

    Order Under Section 12(D)(1)(J) of the Investment Company Act of 
1940 Granting an Exemption from Sections 12(D)(1)(A) and (B) of the 
Act, under Sections 6(C) and 17(B) of the Act Granting an Exemption 
from Sections 17(A)(1) and (2) of the Act, and under Section 6(C) of 
the Act for an Exemption from Rule 12d1-2(A) under the Act
    Wilshire Mutual Funds, Inc., Wilshire Variable Insurance Trust, 
Wilshire Associates Incorporated, and SEI Investments Distribution Co. 
filed an application on August 19, 2014, and an amendment to the 
application on November 10, 2014, requesting an order under section 
12(d)(1)(J) of the Investment Company Act of 1940 (the ``Act'') 
granting an exemption from sections 12(d)(1)(A) and (B) of the Act, 
under sections 6(c) and 17(b) of the Act granting an exemption from 
sections 17(a)(1) and (2) of the Act, and under section 6(c) of the Act 
for an exemption from rule 12d1-2(a) under the Act. The order would (a) 
permit certain registered open-end management investment companies that 
operate as ``funds of funds'' to acquire shares of certain registered 
open-end management investment companies and unit investment trusts 
that are within and outside the same group of investment companies as 
the acquiring investment companies, and (b) permit funds of funds 
relying on rule 12d1-2 under the Act to invest in certain financial 
instruments.
    On December 16, 2014, a notice of the filing of the application was 
issued (Investment Company Act Release No. 31381). The notice gave 
interested persons an opportunity to request a hearing and stated that 
an order granting the application would be issued unless a hearing was 
ordered. No request for a hearing has been filed, and the Commission 
has not ordered a hearing.
    The matter has been considered and it is found, on the basis of the 
information set forth in the application, as amended, that granting the 
requested exemption is appropriate in and consistent with the public 
interest and consistent with the protection of investors and the 
purposes fairly intended by the policy and provisions of the Act.
    It is also found that the terms of the proposed transactions are 
reasonable and fair and do not involve overreaching, and the proposed 
transactions are consistent with the policies of each registered 
investment company concerned and with the general purposes of the Act.
    Accordingly,
    It is ordered, that the relief requested under section 12(d)(1)(J) 
of the Act from sections 12(d)(1)(A) and (B) of the Act, under sections 
6(c) and 17(b) of the Act from sections 17(a)(1) and (2) of the Act, 
and under section 6(c) of the Act for an exemption from rule 12d1-2(a) 
under the Act by Wilshire Mutual Funds, Inc., et al. (File No. 812-
14350) is granted, effective immediately, subject to the conditions 
contained in the application, as amended.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Brent J. Fields,
Secretary.
[FR Doc. 2015-03404 Filed 2-18-15; 8:45 am]
BILLING CODE 8011-01-P