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AXA Equitable Life Insurance Company, et al; Notice of Application

Federal Information & News Dispatch, Inc.

January 31, 2013.

Applicants: AXA Equitable Life Insurance Company ("AXA Equitable"), Separate Account 45 of AXA Equitable ("Separate Account 45"), and Separate Account 49 of AXA Equitable ("Separate Account 49" and together with Separate Account 45, "Separate Accounts"), AXA Premier VIP Trust ("VIP Trust") and EQ Advisors Trust ("EQ Trust" and together with VIP Trust, the "Trusts"). AXA Equitable and the Separate Accounts are referred to herein as the "Substitution Applicants." The Substitution Applicants and the Trusts are referred to herein as the "Section 17 Applicants."

Summary of Application: The Substitution Applicants seek an order pursuant to Section 26(c) of the 1940 Act, approving the substitution of shares of certain series of the EQ Trust ("Replacement Funds") for shares of certain other series of the EQ Trust and the VIP Trust ("Existing Funds"). Each of the Replacement and Existing Funds currently serves as an underlying investment option for certain variable annuity contracts issued by AXA Equitable (the "Contracts"). The Section 17 Applicants also seek an order pursuant to Section 17(b) of the 1940 Act exempting them from Section 17(a) of the 1940 Act to the extent necessary to permit them to engage in certain in- kind transactions in connection with the substitution ("In-Kind Transactions").

DATES: Filing Date: The application was filed on May 31, 2012, and an amended and restated application was filed on October 1, 2012, November 30, 2012, January 14, 2013 and January 30, 2013.

Hearing or Notification of Hearing: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Secretary of the Commission and serving the applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on February 25, 2013, and should be accompanied by proof of service on the applicants in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the requester's interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Secretary of the Commission.

ADDRESSES: Secretary, SEC, 100 F Street NE., Washington, DC 20549-1090. Applicants: Steven M. Joenk, Senior Vice President, AXA Equitable Life Insurance Company, 1290 Avenue of Americas, New York, New York 10104; Patricia Louie, Esq., Senior Vice President & Associate General Counsel, AXA Equitable Life Insurance Company, 1290 Avenue of Americas, New York, New York 10104; and Clifford J. Alexander, Esq. and Mark C. Amorosi, Esq., K&L Gates LLP, 1601 K Street NW., Washington, DC 20006.

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FOR FURTHER INFORMATION CONTACT: Alison White, Senior Counsel, or Michael L. Kosoff, Branch Chief, Office of Insurance Products, Division of Investment Management, at (202) 551-6795.

SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission's Web site by searching for the file number, or for an applicant using the Company name box, at http://www.sec.gov/search/search.htm, or by calling (202) 551-8090.

Applicants' Representations

1. AXA Equitable, on its own behalf and on behalf of its Separate Accounts, proposes to substitute shares of the Replacement Funds for shares of the Existing Funds held by the Separate Accounts to fund the Contracts.

2. AXA Equitable is the depositor and sponsor of the Separate Accounts.

3. Each of Separate Account 45 and Separate Account 49 is a "separate account" as defined by Rule 0-1(e) under the Act and each is registered under the Act as a unit investment trust for purposes of funding the Contracts. Security interests under the Contracts have been registered under the Securities Act of 1933. The application sets forth the registration statement file numbers for the Contracts and the Separate Accounts.

4. The EQ Trust is a registered open-ended management investment company of the series type (File Number 333-17217). It currently offers 72 separate series (each an "EQ Portfolio" and collectively, the "EQ Portfolios"). It has three classes of shares--Class IA shares, Class IB shares and Class K shares. Only Class IA and Class IB shares will be involved in the proposed Substitutions.

5. AXA Equitable Funds Management Group, LLC ("FMG") currently serves as investment manager ("Manager") of each of the EQ Portfolios pursuant to the Investment Management Agreements between the EQ Trust, on behalf of each EQ Portfolio, and FMG ("Management Agreements"). FMG is a wholly-owned subsidiary of AXA Equitable and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

6. The VIP Trust is a registered open-end management investment company of the series type (File No. 333-70754). It currently offers 20 separate series (each, a "VIP Portfolio" and collectively, the "VIP Portfolios"). It has three classes of shares--Class A shares, Class B shares, and Class K shares. Only Class A and Class B shares will be involved in the proposed Substitutions.

7. FMG currently serves as investment manager of each of the VIP Portfolios pursuant to the Management Agreements between the VIP Trust, on behalf of each VIP Portfolio, and FMG.

8. Both the EQ Trust and VIP Trust have received an exemptive order from the Commission ("Multi-Manager Order") that permits the Manager, or any entity controlling, controlled by, or under common control (within the meaning of Section 2(a)(9) of the 1940 Act) with the Manager, subject to certain conditions, to hire and replace unaffiliated subadvisors and to enter into and amend sub-advisory agreements without shareholder approval.

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9. The Contracts are individual and group deferred variable annuity contracts. Under the Contracts, AXA Equitable reserves the right to substitute different underlying investment options for current underlying investment options offered as funding options under the Contracts. The prospectuses for the Contracts include disclosure of the reservation of this right. The Contracts which offer the Existing Funds are registered in the registration statements listed in footnote 2 of the application.

10. AXA Equitable, on its own behalf and on behalf of its Separate Accounts, requests an order from the Commission pursuant to Section 26(c) of the 1940 Act approving the following 26 proposed substitutions:

Sub. No...................Existing portfolio........Replacement portfolio

1.........................EQ/Oppenheimer Global.... EQ/Global Multi-Sector

..........................Portfolio................ Equity Portfolio.

2.........................EQ/MFS International......EQ/International Core

..........................Growth Portfolio..........PLUS Portfolio.

3.........................Multimanager

..........................International Equity

..........................Portfolio

4.........................EQ/Capital Guardian...... EQ/Large Cap Core PLUS

..........................Research Portfolio........Portfolio.

5.........................EQ/Davis New York Venture

..........................Portfolio

6.........................EQ/Lord Abbett Large Cap

..........................Core Portfolio

7.........................EQ/UBS Growth and Income

..........................Portfolio

8.........................Multimanager Large Cap

..........................Core Equity Portfolio

9.........................EQ/Equity Growth PLUS.... EQ/Large Cap Growth PLUS

..........................Portfolio................ Portfolio.

10....................... EQ/Montag & Caldwell

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..........................Growth Portfolio

11....................... EQ/T. Rowe Price Growth

..........................Stock Portfolio

12....................... EQ/Wells Fargo Omega

..........................Growth Portfolio

13....................... Multimanager Aggressive

..........................Equity Portfolio

14....................... EQ/BlackRock Basic Value..EQ/Large Cap Value PLUS

..........................Equity Portfolio..........Portfolio.

15....................... EQ/Boston Advisors Equity

..........................Income Portfolio

16....................... EQ/JPMorgan Value

..........................Opportunities Portfolio

17....................... EQ/Van Kampen Comstock

..........................Portfolio

18....................... Multimanager Large Cap

..........................Value Portfolio

19....................... Multimanager Mid Cap......AXA Tactical Manager 400

..........................Growth Portfolio..........Portfolio.

20....................... Multimanager Mid Cap......EQ/Mid Cap Value PLUS

..........................Value Portfolio.......... Portfolio.

21....................... Multimanager Small Cap....AXA Tactical Manager 2000

..........................Growth Portfolio..........Portfolio.

22....................... Multimanager Small Cap

..........................Value Portfolio

23....................... EQ/Global Bond PLUS...... EQ/Core Bond Index

..........................Portfolio................ Portfolio.

24....................... Multimanager Multi-Sector

..........................Bond Portfolio

25....................... Multimanager Core Bond....EQ/Quality Bond PLUS

..........................Portfolio................ Portfolio.

26....................... EQ/PIMCO Ultra Short Bond EQ/AllianceBernstein

..........................Portfolio................ Short Duration Government

....................................................Bond Portfolio.

11. A comparison of the strategies, risks and performance of each Existing and Replacement Fund is included in the application. A comparison of the objectives, primary investments and fees and expenses (as of 12/31/2011) of each Existing and Replacement Fund follows:

--This is a summary of a Federal Register article originally published on the page number listed below--

Notice of application for an order approving the substitution of certain securities pursuant to Section 26(c) of the Investment Company Act of 1940, as amended (the "1940 Act" or "Act") and an order of exemption pursuant to Section 17(b) of the Act from Section 17(a) of the Act.

Citation: "78 FR 8601"

Document Number: "Release No. IC-30373; File No. 812-14036"

Federal Register Page Number: "8601"

"Notices"

Copyright: (c) 2013 Federal Information & News Dispatch, Inc.
Wordcount: 1321



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