GT GLOBAL SERIES TRUST
N-18F1, 1997-09-16
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                                                              File No. 811-7787




                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                  FORM N-18F-1

                 Notification of Election Pursuant to Rule 18f-1

                    Under the Investment Company Act of 1940


                             GT GLOBAL SERIES TRUST
              (FORMERLY KNOWN AS GT GLOBAL ASSET ALLOCATION TRUST)

                            NOTIFICATION OF ELECTION

         The undersigned  registered  open-end  investment company, on behalf of
the following series: GT Global New Dimension Fund (the "Fund"), hereby notifies
the Securities and Exchange  Commission that the Fund elects to commit itself to
pay in cash all redemptions by a shareholder of record as provided by Rule 18f-1
under the Investment Company Act of 1940. It is understood that this election is
irrevocable  while such Rule is in effect  unless the  Commission  by order upon
application permits the withdrawal of this Notification of Election.


                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the Investment Company
Act of 1940, the Registrant has caused this  Notification of Election to be duly
executed on its behalf in the City of San  Francisco and the State of California
on the 10th day of September, 1997.

                                            GT GLOBAL SERIES TRUST


                                            By:  /s/ Kenneth W. Chancey
                                                 ------------------------------
                                                 Kenneth W. Chancey
                                                 Vice President
Attest:


/s/ Phillip S. Gillespie
- ---------------------------
Phillip S. Gillespie
Assistant Secretary




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