NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE: NLY) announced today that it had
submitted Annaly’s comment letter to the Securities & Exchange
Commission regarding the SEC’s Concept Release reviewing interpretive
issues related to the Section 3(c)(5)(C) exemption to the Investment
Company Act of 1940
Michael A.J. Farrell, Chairman, Chief Executive Officer and President of
Annaly commented on the submission: “On behalf of the shareholders,
board of directors and employees of Annaly and of Chimera Investment
Corporation and CreXus Investment Corp., the two REITs that are
externally managed by our subsidiary, FIDAC, I am pleased to share with
the SEC our comments on their Concept Release. Mortgage REITs have
flourished as operating companies and are an established, accepted and
desirable investment asset class for a wide range of individual and
institutional investors. Mortgage REITs have also become a critically
important source of capital formation in the residential and commercial
real estate markets. We have only gotten to this point because we
complied with all relevant laws, regulations and guidelines, including
the guidance provided by the SEC, and by delivering compelling
investment returns to our shareholders. We have never had any
uncertainty about the interpretation and application of the Section
3(c)(5)(C) exemption, or any question or doubt about being exempt from
the Investment Company Act. Importantly, we firmly believe that the SEC
will conclude that Section 3(c)(5)(C) was intended to exempt companies
such as mortgage REITs from the Investment Company Act.”
The comment letter will be available on Annaly’s website (www.annaly.com)
and the SEC’s website (www.sec.gov).
Annaly manages assets on behalf of institutional and individual
investors worldwide. The Company’s principal business objective is to
generate net income for distribution to investors from its Investment
Securities and from dividends it receives from its subsidiaries.
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements which are based on various assumptions (some
of which are beyond our control) may be identified by reference to a
future period or periods or by the use of forward-looking terminology,
such as "may," "will," "believe," "expect," "anticipate," "continue," or
similar terms or variations on those terms or the negative of those
terms. Actual results could differ materially from those set forth in
forward-looking statements due to a variety of factors, including, but
not limited to, changes in interest rates, changes in the yield curve,
changes in prepayment rates, the availability of mortgage-backed
securities for purchase, the availability of financing and, if
available, the terms of any financing, changes in the market value of
our assets, changes in business conditions and the general economy,
changes in government regulations affecting our business, our ability to
maintain our qualification as a REIT for federal income tax purposes,
our ability to maintain an exemption from registration under the
Investment Company Act of 1940, risks associated with the broker-dealer
business of our subsidiary, and risks associated with the investment
advisory business of our subsidiaries, including the removal by clients
of assets they manage, their regulatory requirements and competition in
the investment advisory business. For a discussion of the risks and
uncertainties which could cause actual results to differ from those
contained in the forward-looking statements, see "Risk Factors" in our
most recent Annual Report on Form 10-K and any subsequent Quarterly
Reports on Form 10-Q. We do not undertake, and specifically disclaim any
obligation, to publicly release the result of any revisions which may be
made to any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date of
such statements.
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.