[Federal Register: December 23, 1999 (Volume 64, Number 246)]
[Notices]               
[Page 72122-72123]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23de99-120]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-24207]

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

December 17, 1999.
    The following is a notice of applications for deregistration under 
section 8(f) of the Investment Company Act of 1940 for the month of 
December, 1999. A copy of each application may be obtained for a fee at 
the SEC's Public Reference Branch, 450 Fifth St., NW, Washington, DC 
20549-0102 (tel. 202-942-8090). 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 January 11, 2000, and should be accompanied 
by proof of service on the applicant, in the form of an affidavit or, 
by 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, SEC, 450 Fifth 
Street, NW, Washington, DC 20549-0609. 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.

Empirical Growth Fund [File No. 811-8493]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 26, 1999, applicant made a final 
liquidating distribution to its shareholders based on net asset value. 
Expenses of approximately $1,500 incurred in connection with the 
liquidation were paid by Worldwide Financial Management Advisors, Inc., 
applicant's investment adviser.
    Filing Date: The application was filed on November 30, 1999.
    Applicant's Address: 300 South Pointe Dr., #4306, Miami Beach, 
Florida 33139.

American Association of Homes for the Aging Tax-Free Trust, High 
Income Series 1 [File No. 811-5249]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an

[[Page 72123]]

investment company. On August 7, 1998, applicant made a final 
liquidating distribution to its unitholders at the net asset value per 
unit. As of December 1, 1999, applicant had 1 account totaling 5 units 
that had not surrendered its certificate. Funds representing the 
aggregate liquidation value of applicant's remaining units are being 
held by Chase Manhattan Bank, N.A. Expenses of approximately $2,600 
incurred in connection with the liquidation were paid by applicant.
    Filing Dates: The application was filed on May 25, 1999, and 
amended on December 14, 1999.
    Applicant's Address: 1221 Post Road East, Westport, CT 06880.

WPG Growth Fund [File No. 811-4446]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 30, 1998, applicant made a final 
liquidating distribution to its shareholders based on net asset value. 
Expenses of $3,000 incurred in connection with the liquidation were 
paid by applicant.
    Filing Date: The application was filed on December 7, 1999.
    Applicant's Address: One New York Plaza, New York, New York 10004.

Bear Stearns Investment Trust [File No. 811-7290]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On July 29, 1999, applicant transferred its 
assets to Emerging Markets Debt Portfolio, a series of The Bear Stearns 
Funds (``Acquiring Fund''), in exchange for shares of the Acquiring 
Fund based on net asset value per share. Expenses of approximately 
$105,300 were incurred in connection with the reorganization, of which 
the Acquiring Fund paid 70% and applicant paid the remaining 30%.
    Filing Date: The applicant was filed on November 10, 1999.
    Applicant's Address: 575 Lexington Avenue, New York, New York 
10022.

LifeUSA Funds, Inc. [File No. 811-7865] IAI Investment Funds V, 
Inc. [File No. 811-4463]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On October 30, 1998, each applicant had 
made a final liquidating distribution to its shareholders based on net 
asset value. Expenses of $3,897 and $11,933, respectively, incurred in 
connection with the liquidations were paid by Investment Advisers, 
Inc., the investment adviser for each applicant.
    Filing Date: Each application was filed on December 3, 1999.
    Applicants' Address: 3700 U.S. Bank Place, 601 Second Street South, 
Minneapolis, Minnesota 55402.

The Alabama Tax-Exempt Bond Trust, Series 5 [File No. 811-5044]

    Summary: Applicant, a unit investment trust, seeks an order 
declaring that it has ceased to be an investment company. On August 1, 
1998, applicant made a final liquidating distribution to its 
shareholders based on net asset value. No expenses were incurred in 
connection with the liquidation.
    Filing Date: The application was filed on November 30, 1999.
    Applicant's Address: 1901 Sixth Avenue North, Birmingham, Alabama 
35203.

The Fahnestock Funds [File No. 811-6166]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On September 29, 1999, applicant transferred 
its assets to Ivy US Emerging Growth Fund, based on net asset value. 
Expenses of $160,000 incurred in connection with the reorganization 
were paid by Fahnestock & Co. Inc., applicant's principal underwriter.
    Filing Date: The application was filed on November 18, 1999.
    Applicant's Address: 125 Broad Street, New York, New York 10004.

Lexington Convertible Securities Fund [File No. 811-4925]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On April 30, 1999, applicant transferred all 
of its assets and liabilities to Ariston Convertible Securities Fund, a 
newly created series of AmeriPrime Funds, based on net asset value. 
Expenses of approximately $14,327 incurred in connection with the 
reorganization were paid by applicant.
    Filing Dates: The application was filed on September 27, 1999, and 
amended on November 19, 1999.
    Applicant's Address: Lexington Funds, Park 80 West Plaza Two, 
Saddle Brook, New Jersey 07663.

Lexington Strategic investments Fund, Inc. [File No. 811-2506]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On June 25, 1999, applicant transferred all 
of its assets and liabilities to Lexington Goldfund, Inc., based on net 
asset value. Expenses of $128,338 incurred in connection with the 
reorganization were paid by applicant.
    Filing Dates: The application was filed on September 27, 1999, and 
amended on November 19, 1999.
    Applicant's Address: Lexington Funds, Park 80 West Plaza Two, 
Saddle Brook, New Jersey 07663.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-33344 Filed 12-22-99; 8:45 am]
BILLING CODE 8010-01-M