0001104659-12-026205.txt : 20120418 0001104659-12-026205.hdr.sgml : 20120418 20120418162807 ACCESSION NUMBER: 0001104659-12-026205 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120418 DATE AS OF CHANGE: 20120418 EFFECTIVENESS DATE: 20120418 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RBB FUND INC CENTRAL INDEX KEY: 0000831114 IRS NUMBER: 510312196 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-20827 FILM NUMBER: 12766238 BUSINESS ADDRESS: STREET 1: 400 BELLEVUE PKWY STE 100 CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 3027911700 MAIL ADDRESS: STREET 1: 400 BELLEVUE PKWY STREET 2: SUITE 152 CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: FUND INC /DE/ DATE OF NAME CHANGE: 19600201 0000831114 S000013665 Bear Stearns CUFS MLP Mortgage Portfolio C000037423 Bear Stearns CUFS MLP Mortgage Portfolio 497 1 a12-9984_1497.htm 497

 

Bear Stearns CUFS® MLP Mortgage Portfolio

 

 (INVESTMENT PORTFOLIO OF THE RBB FUND, INC.)

 

Supplement dated April 18, 2012

to the Prospectus dated December 31, 2009, as supplemented

 

THIS SUPPLEMENT CONTAINS NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN THE PROSPECTUS AND SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUSES.

 

On April 10, 2012, the Board of Directors of The RBB Fund, Inc. (the “Board”) approved a plan of liquidation and termination (the “Plan”) providing for the liquidation of the Bear Stearns CUFS® MLP Mortgage Portfolio (the “Portfolio”).  Shareholders of the Portfolio unanimously approved the Plan as of April 11, 2012.  The liquidation is expected to occur on or about May 30, 2012 (the “Liquidation”).  However, in the event that a shareholder of the Portfolio requests a redemption of all or any portion of the shares in the Portfolio held by it, the Board has approved the liquidation of the Portfolio within no more than seven (7) days after the date of such redemption request in order not to disadvantage the Portfolio’s remaining shareholders.

 

Effective May 1, 2012, daily dividends will be suspended.  As disclosed in the Prospectus, the Portfolio is permitted to depart from its stated investment objective and policies and to hold any portion or all of its assets, as a temporary defensive measure, in cash, cash equivalents and all types of money market securities.  In anticipation of the Liquidation, the Portfolio plans to convert all U.S. government agency-backed securities and derivative positions held by the Portfolio to cash or cash equivalent instruments which will be held until the Liquidation.  All other investments including non-U.S. government agency-backed securities will be distributed in-kind, provided that cash will be paid for any securities that cannot be distributed pro-ratably due to minimum denomination or tradable lot requirements or other practical limitations.

 

Upon the Liquidation, each remaining shareholder of record of the Portfolio will receive a pro rata distribution, in cash and in-kind, of all of the remaining assets of the Portfolio (after deduction for amounts estimated to be necessary to satisfy the debts and liabilities of the Portfolio).

 

The Liquidation will not result in income tax liability for shareholders that are exempt from Federal and other income taxes on income and gain attributable to their ownership of shares of the Portfolio. Shareholders should consult their own tax advisors, however, for advice with respect to tax matters relevant to their particular circumstances.

 

Please retain this Supplement for future reference.