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OMB APPROVAL
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OMB Number 3235-0145
Expires: August 31,1999
Estimated average burden
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
THE TURKISH INVESTMENT FUND, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
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(Title of Class of Securities)
900145103
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(CUSIP Number)
4/30/99
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)
* 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 the
disclosures provided in a prior cover page.
The information required in 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).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
SEC 1745 (3-98) Page 1 of 5 pages
<PAGE>
CUSIP No. 900145103
________________________________________________________________________________
1. NAMES OF REPORTING PERSONS.
Newgate LLP, George Foot and Sonia Rosenbaum
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
04-2941344
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts, USA, USA
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES None
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY None
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING None
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH: None
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None
________________________________________________________________________________
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0
________________________________________________________________________________
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA, HC, HC
________________________________________________________________________________
Page 2 of 5 pages
<PAGE>
CUSIP No. 900145103
________________________________________________________________________________
Item 1(a). Name of Issuer:
The Turkish Investment Fund, Inc.
________________________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
1221 Avenue of the Americas
New York, NY 10020
________________________________________________________________________________
Item 2(a). Name of Person Filing:
Newgate LLP, George Foot and Sonia Rosenbaum
________________________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
80 Field Point Road, Greenwich, CT 06830
________________________________________________________________________________
Item 2(c). Citizenship:
USA
________________________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 Par Value
________________________________________________________________________________
Item 2(e). CUSIP Number:
900145103
________________________________________________________________________________
Item 3. If this statement is filed pursuant to Sections 240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [_] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [_] Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [_] Investment company registered under section 8 of the Investment
Company Act (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [X] A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h) [_] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [_] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
Page 3 of 5 pages
<PAGE>
CUSIP No. 900145103
________________________________________________________________________________
(j) [_] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J);
________________________________________________________________________________
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: None
(b) Percent of class: 0
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote None
(ii) Shared power to vote or to direct the vote None
(iii) Sole power to dispose or to direct the disposition of None
(iv) Shared power to dispose or to direct the disposition of None
Instruction. For computations regarding securities which represent a right to
acquire an underlying security see Section 240.13d-3(d)(1).
________________________________________________________________________________
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].
Instruction: Dissolution of a group requires a response to this item.
________________________________________________________________________________
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
________________________________________________________________________________
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
If a parent holding company has filed this schedule, pursuant to Rule
13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule
13d-1(d), attach an exhibit stating the identification of the relevant
subsidiary.
[X] EXHIBIT ATTACHED
________________________________________________________________________________
Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to Section 240.13d-1(b)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has filed this schedule
pursuant to Section 240.13d-1(c) or Section 240.13d-1(d), attach an exhibit
stating the identity of each member of the group.
[_] EXHIBIT ATTACHED
________________________________________________________________________________
Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
[_] EXHIBIT ATTACHED
Page 4 of 5 pages
<PAGE>
CUSIP No. 900145103
________________________________________________________________________________
Item 10. Certification
(a) The following certification shall be included if the statement filed
pursuant to Section 240.13d-1(b):
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in connection with
or as a participant in any transaction having that purpose or effect.
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.
5/17/99
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(Date)
/s/ Sonia Rosenbaum
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(Signature)
Sonia Rosenbaum, Managing Partner
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(Name/Title)
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties for whom copies are to be sent.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
EXHIBIT TO SCHEDULE 13G
Item 7
Each of George Foot and Sonia Rosenbaum is filing as a "Parent Holding Company."
The subsidiary is Newgate LLP, an investment adviser registered under section
203 of the Investment Advisors Act of 1940, as amended.
Pursuant to Rule 13d-1(k)(1), each of George Foot, Sonia Rosenbaum and Newgate
LLP hereby agrees that his Schedule 13G shall be filed on behalf of each of
them.
Page 5 of 5 pages
