American Fidelity Assurance Company, et al.; Notice of Application
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APPLICANTS:
SUMMARY: Summary of Application: The Applicants seek an order pursuant to Section 26(c) of the 1940 Act permitting the substitution of securities issued by a registered investment company currently held by the Separate Accounts (the "Substitution"), which securities support the Separate Accounts' variable annuity contracts that are issued by the
DATES: Filing Date: The application was filed on
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 Secretary of the Commission and serving the Applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by
ADDRESSES: Secretary,
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission's Web site by searching for the file number, or for an applicant using the Company name box, at http://www.sec.gov/search/search.htm, or by calling (202) 551-8090.
Applicants' Representations
1.
2. Each of the Separate Accounts is a segregated asset account of the
3.
4. The Vanguard Variable Insurance Fund Total Stock Market Index Portfolio (the "
5.
6.
7. The Applicants request an order from the Commission pursuant to Section 26(c) of the 1940 Act approving the proposed Substitutions of shares of the
8. The following table compares the fees and expenses of the
................ Existing fund................Replacement fund
Management Fees..0.50%........................0.18%.
12b-1 Fees...... None........................ None.
Administrative.. None........................ None.
Fees
Other Expenses.. None........................ None.
Total Annual.... 0.50%........................0.18%.
Expenses
Expense Waivers..None........................ None.
Net Annual...... 0.50%........................0.18%.
Expenses
9. The Applicants propose the Substitution as part of a continued and overall business plan by the
10. The Applicants represent that the Substitution is in response to the continuing decline of sales in Separate Account A and the minimal allocations to the
11. The Separate Account B and C Contract Owners will continue to be able to select among a large number of investment options, with a full range of investment objectives, investment strategies and managers. Although Separate Account A offers only one investment option, the Applicants have determined that the objectives and strategies of the
12. Contract Owners with Contract value allocated to the
13. The Substitution is designed to provide Contract Owners with the ability to continue their investment in a similar investment option without interruption and at no additional cost to them. In this regard, the
--This is a summary of a
Notice of application for an order approving the substitution of certain securities pursuant to Section 26(c) of the Investment Company Act of 1940, as amended (the "1940 Act").
Citation: "79 FR 50713"
Document Number: "Release No. IC-31217; File No. 812-14288"
Federal Register Page Number: "50713"
"Notices"
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Wordcount: | 1528 |
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