UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
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1. Name and address of issuer:
Profit Funds Investment Trust
8720 Georgia Avenue, Suite 808
Silver Spring, Maryland 20910
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2. The name of each series or class of securities for which
this Form is filed (If the Form is being filed for all
series and classes of securities of the issuer, check the
box but do not list series or classes): [X]
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3. Investment Company Act File Number: 811-7677
Securities Act File Number: 333-6849
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4(a).Last day of fiscal year for which this Form is filed:
September 30, 1998
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4(b). [ ] Check box if this is being filed late (i.e., more
than 90 calendar days after the end of the issuer's
fiscal year). (See Instruction A.2)
Note: If the Form is being filed late, interest must be paid on
the registration fee due.
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4(c). [ ] Check box if this is the last time the issuer will be
filing this Form.
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5. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year pursuant
to section 24(f): $ 1,001,309
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(ii) Aggregate price of securities
redeemed or repurchased during
the fiscal year: $ 938,460
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(iii) Aggregate price of securities
redeemed or repurchased during
any prior fiscal year ending no
earlier than October 11, 1995
that were not previously used to
reduce registration fees payable
to the Commission: $ NONE
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(iv) Total available redemption credits
[add Items 5(ii) and 5(iii)]: -$ 938,460
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(v) Net sales -- if Item 5(i) is greater
than Item 5(iv) [subtract Item 5(iv)
from Item 5(i)]: $ 62,849
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(vi) Redemption credits available for
use in future years -- if Item 5(i)
is less than Item 5(iv) [subtract
Item 5(iv) from Item 5(i)]: $ (NONE)
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(vii) Multiplier for determining
registration fee (See instruction
C.9): x.000278
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(viii) Registration fee due [multiply
Item 5(v) by Item 5(vii)](enter
"0" if no fee is due): =$ 17.47
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6. Prepaid Shares
If the response to item 5(i) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933
pursuant to rule 24e-2 as in effect before October 11, 1997, then
report the amount of securities (number of shares or other units)
deducted here: NONE. If there is a number of shares or other units
that were registered pursuant to rule 24e-2 remaining unsold at the
end of the fiscal year for which this form is filed that are available
for use by the issuer in future fiscal years, then state that number
here: NONE.
<PAGE>
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7. Interest due -- if this Form is being filed more than 90 days after
the end of the issuer's fiscal year (see Instruction D):
+$ NONE
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8. Total of the amount of the registration fee due plus
any interest due [line 5(viii) plus line 7]:
=$ 17.47
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9. Date the registration fee and any interest payment was
sent to the Commission's lockbox depository: December 22, 1998
Method of Delivery:
[X]Wire Transfer
[ ]Mail or other means
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SIGNATURES
This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)*
/s/ John F. Splain
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John F. Splain, Secretary
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Date December 23, 1998
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*Please print the name and title of the signing officer below the
signature.
