0000930413-01-501440.txt : 20011119
0000930413-01-501440.hdr.sgml : 20011119
ACCESSION NUMBER: 0000930413-01-501440
CONFORMED SUBMISSION TYPE: 40-17F2
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20011106
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: FRANCE GROWTH FUND INC
CENTRAL INDEX KEY: 0000860743
STANDARD INDUSTRIAL CLASSIFICATION: []
IRS NUMBER: 133560020
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 40-17F2
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-05994
FILM NUMBER: 1776119
BUSINESS ADDRESS:
STREET 1: 499 WASHINGTON BLVD 14TH FLOOR
STREET 2: C/O MITCHELL HUTCHINS ASSET MANAGEMENT
CITY: JERSEY CITY
STATE: NJ
ZIP: 07310
BUSINESS PHONE: 2013184144
MAIL ADDRESS:
STREET 1: 499 WASHINGTON BLVD 14TH FLOOR
STREET 2: 37TH FL
CITY: JERSEY CITY
STATE: NJ
ZIP: 07310
40-17F2
1
c22220_n40-17f2.txt
FORM 40-17F2
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors of
The France Growth Fund, Inc.
We have examined management's assertion, included in the accompanying Management
Statement Regarding Compliance with Certain Provisions of the Investment Company
Act of 1940, about The France Growth Fund, Inc.'s (the "Fund") compliance with
the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment
Company Act of 1940 ("the Act") as of June 29, 2001 included in the accompanying
Management Statement Regarding Compliance with Certain Provisions of the
Investment Company Act of 1940. Management is responsible for the Fund's
compliance with those requirements. Our responsibility is to express an opinion
on management's assertion about the Fund's compliance based on our examination.
Our examination, which was without prior notice to the Fund, was conducted in
accordance with attestation standards established by the American Institute of
Certified Public Accountants and, accordingly, included examining, on a test
basis, evidence about the Fund's compliance with those requirements and
performing such other procedures as we considered necessary in the
circumstances. Included among our procedures were the following tests performed
as of June 29, 2001 and for the period from April 5, 2001 through June 29, 2001,
with respect to agreement of purchases and sales of securities and similar
investments:
o Confirmation of all securities and similar investments owned by the Fund and
in the control of Credit Agricole Indosuez in Paris, France ("CAI"), the
Fund's sub-custodian, with SICOVAM, France, the central depository in France.
It was not possible to physically inspect or perform other procedures
directed to the Fund's securities because they are maintained by CAI and
SICOVAM under an omnibus nominee account for all of CAI's custodial
customers;
o Reconciliation of confirmation results as to all such securities and similar
investments to the books and records of the Fund and the Custodian;
o Agreement of three security and/or investment purchases and three security
and/or investment sales or maturities since our last examination from the
books and records of the Fund to broker confirmations.
TO THE BOARD OF DIRECTORS OF
THE FRANCE GROWTH FUND, INC.
OCTOBER 31, 2001
We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination of the Fund's compliance with
specified requirements.
In our opinion, management's assertion that The France Growth Fund, Inc. was in
compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the
Investment Company Act of 1940 as of June 29, 2001 with respect to securities
reflected in the investment account of the Fund is fairly stated, in all
material respects.
This report is intended solely for the information and use of management of The
France Growth Fund, Inc. and the Securities and Exchange Commission and should
not be used for any other purpose.
October 31, 2001
(2)
MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH
CERTAIN PROVISIONS OF THE INVESTMENT COMPANY ACT OF 1940
We, as members of management of The France Growth Fund, Inc. (the "Fund"), are
responsible for complying with the requirements of subsections (b) and (c) of
Rule 17f-2, "Custody of Investments by Registered Management Investment
Companies," of the Investment Company Act of 1940. We are also responsible for
establishing and maintaining an effective internal control structure over
compliance with those requirements. We have performed an evaluation of the
Fund's compliance with the requirements of subsections (b) and (c) of Rule 17f-2
as of June 29, 2001.
Based on this evaluation, we assert that the Fund was in compliance with those
provisions of Rule 17f-2 of the Investment Company Act of 1940 as of June 29,
2001, with respect to securities and similar investments reflected in the
investment account of the Fund.
The France Growth Fund, Inc.
By:
--------------------------------------------------
Frederick J. Schmidt, Vice President and Treasurer
----------------------------------------------
Steven M. Cancro, Vice President and Secretary
-----------------------------------------
OMB APPROVAL
-----------------------------------------
OMB NUMBER: 3235-0360
EXPIRES: JULY 31, 1994
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE ...0.05
-----------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17F-2]
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1. Investment Company Act File Number: Date examination completed:
811-5994 October 31, 2001
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2. State identification Number:
----------- ---------- ----------- ----------- ------------ --------------
AL AK AZ AR CA CO
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CT DE DC FL GA HI
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ID IL IN IA KS KY
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LA ME MD MA MI MN
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MS MO MT NE NV NH
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NJ NM NY NC ND OH
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OK OR PA RI SC SD
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TN TX UT VT VA WA
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WV WI WY PUERTO RICO
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Other (specify):
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3. Exact name of investment company as specified in registration statement:
The France Growth Fund, Inc.
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4. Name under which business is conducted, if different from above:
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5. Address of principal executive office (number, street, city, state, zip
code):
666 Third Avenue, New York, New York 10017-4011
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INSTRUCTIONS
This Form must be completed by investment companies that have custody of
securities or similar investments.
INVESTMENT COMPANY
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in compliance with
Rule 17f-2 under the Act and applicable state law, examines securities and
similar investments in the custody of the investment company.
ACCOUNTANT
3. Submit this Form to the Securities and Exchange Commission and appropriate
state securities administrators when filing the certificate of accounting
required by Rule 17f-2 under the Act and applicable state law. File the
original and one copy with the Securities and Exchange Commission's
principal office in Washington, D.C., one copy with the regional office for
the region in which the investment company's principal business operations
are conducted, and one copy with the appropriate state administrator(s), if
applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
SEC 2198 (11-91)