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UNITED STATES --------------------------
SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
WASHINGTON, D.C. 20549 --------------------------
OMB NUMBER: 3235-0360
FORM N-17F-2 EXPIRES:
ESTIMATED AVERAGE BURDEN
Certificate of Accounting of Securities and Similar HOURS PER RESPONSE ...0.05
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:
811-09100 September 30, 1999
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2. State identification Number:
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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:
Dresdner RCM Global Small Cap Fund, Dresdner RCM Global
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Health Care Fund, Dresdner RCM Biotechnology Fund, Dresdner RCM Global Equity Fund
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4. Address of principal executive office (number, street, city, state, zip code):
Four Embarcadero Center, San Francisco, CA 94111
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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)
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REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors of Dresdner RCM Global Funds Incorporated:
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 Dresdner RCM Global Small Cap Fund's, the Dresdner RCM
Global Health Care Fund's, the Dresdner RCM Biotechnology Fund's and the
Dresdner RCM Global Equity Fund's, [four of the funds constituting the Dresdner
RCM Global Funds, Inc. (the "Funds")] compliance with the requirements of
subsections (b) and (c) of rule 17f-2 under the Investment Company Act of 1940
(the Act) as of September 30, 1999. Management is responsible for the Funds'
compliance with those requirements. Our responsibility is to express an opinion
on management's assertion about the Funds' compliance based on our examination.
Our examination was made 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 Funds' 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 September 30, 1999, and with respect to agreement of
security purchases and sales, for the period from January 29, 1999 (the date of
our last examination), through September 30, 1999:
- - Count and inspection of documentation of all securities located in the
vault, if any, of State Street Bank and Trust, Quincy, Massachusetts, the
Custodian, without prior notice to management;
- - Confirmation of all securities held by Dresdner Bank AG and the Depository
Trust Company in book entry form;
- - Confirmation of all securities hypothecated, pledged, placed in escrow, or
out for transfer with brokers, pledgees and/or transfer agents;
- - Reconciliation of all such securities to the books and records of the Funds
and the Custodian; and
- - Tests of selected security transactions since the date of our last report.
- - Agreement of twelve security purchases and fourteen security sales or
maturities since our last report from the books and records of the Company
to broker confirmations.
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We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Fund's compliance with
specified requirements.
In our opinion, management's assertion that the Dresdner RCM Global Small Cap
Fund, the Dresdner RCM Global Health Care Fund, the Dresdner RCM Biotechnology
Fund and the Dresdner RCM Global Equity Fund, were in compliance with the
requirements of subsections (b) and (c) of rule 17f-2 of the Investment Company
Act of 1940 as of September 30, 1999, with respect to securities reflected in
the investment account of the Funds is fairly stated, in all material respects.
This report is intended solely for the information and use of the Board of
Directors of the Dresdner RCM Global Funds, Inc., the managements of the
Dresdner RCM Global Small Cap Fund, the Dresdner RCM Global Health Care Fund,
the Dresdner RCM Biotechnology Fund and the Dresdner RCM Global Equity Fund, and
the Securities and Exchange Commission and is not intended to be and should not
be used by anyone other than these specified parties.
PricewaterhouseCoopers LLP
Boston, Massachusetts
November 29, 1999
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November 29, 1999
PricewaterhouseCoopers LLP
160 Federal Street
Boston, Massachusetts 02110
MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH CERTAIN PROVISIONS OF THE
INVESTMENT COMPANY ACT OF 1940
We, as members of management of the Dresdner RCM Global Small Cap Fund, the
Dresdner RCM Global Health Care Fund, the Dresdner RCM Biotechnology Fund, and
the Dresdner RCM Global Equity Fund (the "Funds"), 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
effective internal controls 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 September 30, 1999, and from
January 29, 1999 through September 30,1999.
Based on this evaluation, we assert that the Funds were in compliance with the
requirements of subsections (b) and (c) of rule 17f-2 of the Investment Company
Act of 1940 as of September 30, 1999, and from January 29, 1999, through
September 30, 1999, with respect to securities reflected in the investment
account of the Fund.
Dresdner RCM Global Funds, Inc.
/s/ Steven Wong
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Steven Wong, Assistant Treasurer
