0000898432-08-000502.txt : 20120726 0000898432-08-000502.hdr.sgml : 20120726 20080520183054 ACCESSION NUMBER: 0000898432-08-000502 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN KEEGAN SELECT FUND INC CENTRAL INDEX KEY: 0001072377 IRS NUMBER: 522139807 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 BUSINESS PHONE: 2125498328 MAIL ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN KEEGAN SELECT FUND INC DATE OF NAME CHANGE: 20020918 FORMER COMPANY: FORMER CONFORMED NAME: REGIONS MORGAN KEEGAN SELECT FUND INC DATE OF NAME CHANGE: 20020503 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN KEEGAN SELECT FUND INC DATE OF NAME CHANGE: 19990121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RMK HIGH INCOME FUND INC CENTRAL INDEX KEY: 0001227122 IRS NUMBER: 470921123 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 BUSINESS PHONE: 2125498328 MAIL ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 FORMER COMPANY: FORMER CONFORMED NAME: HELIOS HIGH INCOME FUND INC DATE OF NAME CHANGE: 20090107 FORMER COMPANY: FORMER CONFORMED NAME: RMK HIGH INCOME FUND INC DATE OF NAME CHANGE: 20030414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RMK STRATEGIC INCOME FUND INC CENTRAL INDEX KEY: 0001275902 IRS NUMBER: 270081847 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 BUSINESS PHONE: 2125498328 MAIL ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 FORMER COMPANY: FORMER CONFORMED NAME: HELIOS STRATEGIC INCOME FUND INC DATE OF NAME CHANGE: 20090107 FORMER COMPANY: FORMER CONFORMED NAME: RMK STRATEGIC INCOME FUND INC DATE OF NAME CHANGE: 20040109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RMK Advantage Income Fund, Inc. CENTRAL INDEX KEY: 0001302246 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 BUSINESS PHONE: 2125498328 MAIL ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 FORMER COMPANY: FORMER CONFORMED NAME: Helios Advantage Income Fund, Inc. DATE OF NAME CHANGE: 20090107 FORMER COMPANY: FORMER CONFORMED NAME: RMK Advantage Income Fund, Inc. DATE OF NAME CHANGE: 20040907 FORMER COMPANY: FORMER CONFORMED NAME: RMK Advantage Fund, Inc. DATE OF NAME CHANGE: 20040902 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RMK Multi-Sector High Income Fund Inc CENTRAL INDEX KEY: 0001343602 IRS NUMBER: 000000000 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 BUSINESS PHONE: 2125498328 MAIL ADDRESS: STREET 1: BROOKFIELD INVESTMENT MANAGEMENT INC STREET 2: 3 WFC, 200 VESEY STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1010 FORMER COMPANY: FORMER CONFORMED NAME: Helios Multi-Sector High Income Fund Inc DATE OF NAME CHANGE: 20090107 FORMER COMPANY: FORMER CONFORMED NAME: RMK Multi-Sector High Income Fund Inc DATE OF NAME CHANGE: 20051104 CORRESP 1 filename1.txt K&L|GATES Kirkpatrick & Lockhart Preston Gates Ellis LLP 1601 K Street NW Washington, DC 20006-1600 T 202.778.9000 www.klgates.com May 20, 2008 VIA EDGAR --------- Mr. Vincent J. Di Stefano Office of Disclosure and Review Division of Investment Management U.S. Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: RMK Advantage Income Fund, Inc. (File No. 811-21631) RMK High Income Fund, Inc. (File No. 811-21332) RMK Multi-Sector High Income Fund, Inc. (File No. 811-21833) RMK Strategic Income Fund, Inc. (File No. 811-21487) Morgan Keegan Select Fund, Inc. (File No. 811-09079) Preliminary Proxy Statements on Schedule 14A -------------------------------------------- Dear Mr. Di Stefano: Set forth below are the responses of the above registrants (the "Funds") to the staff's comments on the Funds' preliminary proxy statements filed on May 2, which you conveyed during our telephone call on May 9. 1. COMMENT: In the first paragraph under the heading "Reasons for Board Approval and Recommendation," please add disclosure regarding what prompted the proposed change in the Funds' investment adviser. RESPONSE: We revised the first paragraph under the "Reasons for Board Approval and Recommendation," as follows: In late 2007, HBAM, which had been serving as a valuation consultant to the Funds since August 2007, expressed an interest in becoming the Funds' investment adviser and began discussions with MAM regarding HBAM taking over the management of the Funds. MAM requested and received a proposal from HBAM under which HBAM would serve as investment adviser to the Funds. The details of the proposal from HBAM (the "Proposal") were discussed with K&L|GATES Mr. Vincent J. Di Stefano May 20, 2008 Page 2 the Independent Directors during a telephonic meeting on January 16, 2008 and at an in-person meeting held on January 23, 2008. MAM represented to the Boards that MAM believed that the Proposal was in the best interests of the shareholders of each of the Funds. The essential elements of the Proposal have been incorporated into the Adoption Agreement. 2. COMMENT: In the second paragraph under the heading "Section 15(f) of the 1940 Act," please explain why HBAM has agreed that at least 75% of each Fund's directors will be Independent Directors for only two years after the consummation of the Transaction and not three years. RESPONSE: This was an inadvertent typographical error. The disclosure has been corrected to state that HBAM has agreed that at least 75% of each Fund's directors will be Independent Directors for three years after the consummation of the Transaction. * * * * * If you have any questions regarding the foregoing, please contact me at (202) 778-9024, or Alan Porter at (202) 778-9186. Sincerely, /s/ Mitra Shakeri ----------------- Mitra Shakeri