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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
GT GLOBAL FLOATING RATE FUND, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
361969108
(CUSIP Number)
Rachel L. Arfa
Chief Legal Officer
Chancellor LGT Asset Management, Inc.
1166 Avenue of the Americas
New York, NY 10036
Telephone: (212) 278-9677
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 1, 1997 and May 9, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box ( ).
Check the following box if a fee is being paid with the statement ( ). (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13D
CUSIP No. 361969108
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LGT Asset Management, Inc. (94-3037666)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ( )
(b) ( )
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
LGT Asset Management, Inc. -- California
LGT Holding Luxembourg S.A. -- Luxembourg
Liechtenstein Global Trust -- Liechtenstein
Prince of Liechtenstein Foundation -- Liechtenstein
Information on the Executive Officers and Directors of these Persons
required by Instruction C is provided in Appendix A to this filing.
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
2,500,000
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
2,500,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
LGT Asset Management, Inc. -- 2,500,000
LGT Holding Luxembourg S.A. -- 2,500,000
Liechtenstein Global Trust -- 2,500,000
Prince of Liechtenstein Foundation -- 2,500,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
( )
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LGT Asset Management, Inc. -- 51.5%
LGT Holding Luxembourg S.A. -- 51.5%
Liechtenstein Global Trust -- 51.5%
Prince of Liechtenstein Foundation -- 51.5%
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14 TYPE OF REPORTING PERSON*
LGT Asset Management, Inc. -- HC
LGT Holding Luxembourg S.A. -- HC
Liechtenstein Global Trust -- HC
Prince of Liechtenstein Foundation -- HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE AND THE SIGNATURE ATTESTATION
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ITEM 1. SECURITY AND ISSUER.
The issuer of the securities which are the subject of this Schedule 13D is
GT Global Floating Rate Fund, Inc. (the "Fund"). The Fund's address is 50
California Street, San Francisco, CA 94111.
The class of equity security to which this Schedule 13D relates is common
stock, $.001 par value per share ("Common Stock"), of the Fund.
ITEM 2. IDENTITY AND BACKGROUND.
The information on the officers and directors of the persons filing this
Schedule 13D required by Instruction C is included in Appendix A to this
Schedule.
(a-c) The names of the persons filing this Schedule 13D (each a "Filing
Person" and, collectively, the "Filing Persons") are LGT Asset Management,
Inc. ("LGT-AM"), LGT Holding Luxembourg S.A. ("LGT Holding"), Liechtenstein
Global Trust (the "Trust"), and Prince of Liechtenstein Foundation (the
"Foundation"). LGT-AM directly and indirectly owns a total of $2,500,000
shares of the Fund's Common Stock. LGT Holding owns all of the issued and
outstanding stock of LGT-AM. The Trust owns all of the issued and outstanding
stock of LGT Holding. The Trust is controlled by the Foundation.
LGT-AM is a California corporation whose principal business is as a holding
company. It principal address is 50 California Street, San Francisco, CA 94111.
LGT Holding is a Luxembourg corporation whose principal business is as a
holding company. Its principal address is 9, A boulevard du Prince Henri,
L-1724 Luxembourg.
The Trust is a Liechtenstein trust whose principal business is as provider
of global asset management and private banking products and services. Its
principal address is Herrengasse 12, FL-9490, Vaduz, Liechtenstein.
The Foundation is a Liechtenstein foundation whose principal business is as
the parent organization for the various business enterprises of the Princely
Family of Liechtenstein. Its principal address is Herrengasse 12, FL-9490,
Vaduz, Liechtenstein.
(d) No Filing Person has, during the past five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
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(e) No Filing Person has, during the past five years, been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of that proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, Federal or state securities laws or finding any violation
with respect to those laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On May 1, 1997, the Common Stock of the Fund was directly purchased from
working capital of LGT-AM in the amount of $13,700,000 and indirectly
purchased in the amount of $11,300,000 from the working capital of GT Global,
Inc. ("GT Global"), a wholly-owned subsidiary of LGT-AM.
ITEM 4. PURPOSE OF TRANSACTION.
On May 1, 1997, GT Global and LGT-AM purchased, respectively,
$11,300,000 and $13,700,000 in Common Stock of the Fund. On May 9, 1997,
LGT-AM transferred the $13,700,000 in Common Stock of the Fund to GT Global,
Inc. as a capital contribution and is held in the ordinary
course of GT Global's business. GT Global is a registered broker-dealer that
is wholly owned by LGT-AM. The purpose of these transactions was to invest in
Common Stock of the Fund and not for the purpose of changing or influencing
the control of the Fund. There is no current intention on the part of GT
Global or LGT-AM to make additional purchases of Common Stock or to dispose
of the Common Stock acquired in the Purchase.
No Filing Person has any plans or proposals which relate to or would result
in:
(a) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Fund;
(b) A sale or transfer of a material amount of assets of the Fund;
(c) Any change in the present board of directors or management of the
Fund, including any plans or proposals to change the number or term of directors
or to fill any existing vacancies on that board of directors;
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(d) Any material change in the Fund's present capitalization or dividend
policy;
(e) Any other material change in the Fund's business or corporate
structure;
(f) Changes in the Fund's charter or bylaws or other actions which may
impede the acquisition of control of the Fund by any person; or
(g) Any action similar to any of those enumerated above.
The Filing Persons reserve the right to adopt such plans and proposals in the
future, subject to applicable regulatory requirements, if any.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of May 1, 1997, the Filing Persons owned, directly and indirectly,
the following aggregate numbers and percentages of the Common Stock of the Fund:
LGT-AM 2,500,000 shares (51.5%)
LGT Holding 2,500,000 shares (51.5%)
Trust 2,500,000 shares (51.5%)
Foundation 2,500,000 shares (51.5%)
(b) Because of the parent/subsidiary relationship of the Filing Persons
(see Item 2 above), the power to vote and to dispose of the shares of the Fund's
Common Stock listed in Item 5(a) are shared by all of the Filing Persons.
This ownership interest is disclosed in the Fund's Prospectus.
(c) The shares of the Fund's Common Stock listed in Item 5(a) above were
purchased on May 1, 1997. On May 9, 1997, LGT-AM transferred the $13,700,000
in Common Stock of the Fund to GT Global as a capital contribution.
(d) Not applicable.
(e) On May 9, 1997, LGT-AM transferred the $13,700,000 in Common Stock
of the Fund to GT Global as a capital contribution. As a result of this
transaction, LGT-AM is no longer required to file a statement of ownership on
Schedule 13D.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
With the exception of the parent/subsidiary relationships among the
Filing Persons discussed in Item 2, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Filing Persons
or between the Filing Persons and any other person with respect to the Fund's
Common Stock, including but not limited to transfer or voting of any shares
of its Common Stock, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits,
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division of profit or loss or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
LGT ASSET MANAGEMENT, INC.
Date: May 13, 1997 By: /s/ James R. Tufts
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Appendix A
EXECUTIVE OFFICERS AND DIRECTORS OF LGT ASSET MANAGEMENT, INC.
The following table sets forth the name, citizenship and present
principal occupation of each executive officer and director of LGT Asset
Management, Inc. Except as set forth below, the business address of each of
the individuals named below is LGT Asset Management, Inc., 50 California
Street, San Francisco, CA.
<TABLE>
<CAPTION>
NAME CITIZENSHIP PRINCIPAL PRESENT OCCUPATION
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<S> <C> <C>
Prince Philipp von und
zu Liechtenstein Liechtenstein Director
Bergstrasse 5
FL-9490
Principality of Liechtenstein
Dr. Anton Schwaiger Austria Director, Chairman of
Chancellor LGT Asset Management, Inc.
and President of Private Banking
Division and Asset Management Division
James Tufts United States of America Chief Information Officer of
Chancellor LGT Asset Management, Inc.
Helge Lee(1) United States of America Director; Executive Vice President
of the Asset Management Division
William Guilfoyle United States of America Director; President of GT Global, Inc.
Warren Shaw(1) United States of America Director; Chief Executive Officer and
Chief Investment Officer of Chancellor
LGT Asset Management, Inc.
Penny Zuckerwise(1) United States of America Director; President, Chief Operating
Officer of Chancellor LGT Asset
Management, Inc.
Ellen Adams(1) United States of America Director; Head of North American Equities
of Chancellor LGT Asset Management, Inc.
Nina Lesavoy(1) United States of America Director; Head of North American Institutional
Distribution of Chancellor LGT Asset
Management, Inc.
Jeffrey M. Trongone United States of America Director; Chief Financial Officer of
Chancellor LGT Asset Management, Inc.
</TABLE>
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(1) The business address of such individual is 1166 Avenue of the Americas,
New York, NY 10036.
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EXECUTIVE OFFICERS AND DIRECTORS OF LGT HOLDING LUXEMBOURG S.A.
The following table sets forth the name, citizenship and present principal
occupation of each executive officer and director of LGT Holding Luxembourg
S.A., the owner of 100% of the equity ownership of LGT Asset Management, Inc.
Except as set forth below, the business address of each of the individuals
named below is Chancellor LGT Asset Management, Inc., 1166 Avenue of the
Americas, New York, N.Y. 10036.
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<CAPTION>
NAME CITIZENSHIP PRINCIPAL PRESENT OCCUPATION
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<S> <C> <C>
H.S.H. Prince Philipp Liechtenstein Director
von und zu Liechtenstein
Bergstrasse 5
FL-9490
Principality of Liechtenstein
Dr. Konrad Bachinger Switzerland Director; Legal Matters Executive Officer
of Bank in Liechtenstein, Vaduz and of
Liechtenstein Global Trust
Anthony Littlejohn United Kingdom Director; Finance Director
Derek Biggs United Kingdom Director
Dr. Rolf Wickenkamp Germany Director; Managing Director of Bank in
Liechenstein in Germany
</TABLE>
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EXECUTIVE OFFICERS AND DIRECTORS OF LIECHTENSTEIN GLOBAL TRUST
The following table sets forth the name, citizenship and present principal
occupation of each executive officer and director of Liechtenstein Global
Trust. Except as set forth below, the business address of each of the
individuals named below is Chancellor LGT Asset Management, Inc., 1166 Avenue
of the Americas, New York, N.Y. 10036.
<TABLE>
<CAPTION>
NAME CITIZENSHIP PRINCIPAL PRESENT OCCUPATION
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<S> <C> <C>
H.S.H. Prince Philipp Liechtenstein Chairman; Chief Operating Officer
von und zu Liechtenstein
Bergstrasse 5
FL-9490
Principality of Liechtenstein
Prof. Dr. Cuno Pumpin Switzerland Director
Peter R. Stevens United Kingdom Director
Dr. Anton Schwaiger Austria Director; Chairman of Chancellor
LGT Asset Management, Inc. and
President of the Private
Banking Division and Asset
Management Division
Dr. Konrad Bachinger Switzerland Director and Company Secretary
William Guilfoyle United States Director
of America
Dr. Hans Haumer Austria Director
Yuji Hiramatsu Japan Director
Dr. Rolf Wickenkamp Germany Director and Group Finance Director
Rolf Kalin Switzerland Director
Paul J. Loach United Kingdom Director
Peter Lord United Kingdom Director
Prince Alois K. Lowenstein Germany Director
Heinz Nipp Liechtenstein Director
</TABLE>
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EXECUTIVE OFFICERS AND DIRECTORS OF PRINCE OF LIECHTENSTEIN FOUNDATION
The following table sets forth the name, present principal occupation and
business address of each executive officer and director of Prince of
Liechtenstein Foundation, which owns 99.7% of the voting shares of
Liechtenstein Global Trust. Except as set forth below, the business address
of each of the individuals named below is: the Prince of Liechtenstein
Foundation, Bergstrasse 5, FL-9490, Principality of Liechtenstein.
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<CAPTION>
NAME CITIZENSHIP PRINCIPAL PRESENT OCCUPATION
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<S> <C> <C>
H.S.H. Prince Furst Hans
Adam II von und zu
Liechtenstein Liechtenstein Chairman of the Prince
Schloss Vaduz of Liechtenstein Foundation
FL-9490 Vaduz
H.S.H. Crown Prince Alois
von und zu
Liechtenstein Liechtenstein Vice Chairman of the Prince
Schloss Vaduz of Liechtenstein Foundation
FL-9490 Vaduz
H.S.H. Prince Philipp Liechtenstein Chairman of the Prince
von und zu Liechtenstein of Liechtenstein Foundation
Pavillion Colombo
3, rue Edith Wharton
F-95350 Saint-Price-sous-Foret
Dr. Pierre Keller Switzerland Director
240, route de Sauverny
CH-1290 Versoix
Sir Ronald Grierson United Kingdom Director
61, Eaton Square/Flat D
GB-London SW1W 9BG
Prof. Dr. Cuno Pumpin Switzerland Director
Sonnenbergstrasse 29
CH08645 Jena
Markus Muller
Dachswag 2 Manager, Controlling and
CH-9470 Wardenberg Accounting, Appointed Director to Foundation
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