<PAGE> 1
[CHANCELLOR LGT ASSET MANAGEMENT LETTERHEAD]
Management Statement Regarding Compliance With Certain Provisions of the
Investment Company Act of 1940
Coopers & Lybrand L.L.P. May 5, 1998
One Post Office Square
Boston, MA 02109
We, as members of management of the GT Global New Dimension Fund (the "Fund")
are responsible for complying with the requirements of subsections (b) and (c)
of Rule 17f-2 of the Investment Company Act of 1940 (as interpreted in the
Response of the Office of Chief Counsel, Division of Investment Management, Ref.
No. 92-237-CC). 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 interpreted in the Response of the
Office of Chief Counsel, Division of Investment Management, Ref. No. 92-237-CC)
as of March 10, 1998 and from December 31, 1997 through March 10, 1998.
Based on this evaluation, we assert that the Fund was in compliance with the
provisions of subsections (b) and (c) of Rule 17f-2 of the Investment Company
Act of 1940 (as interpreted in the Response of the Office of Chief Counsel,
Division of Investment Management, Ref. No. 92-237-CC) as of March 10, 1998 and
from December 31, 1997 through March 10, 1998, with respect to securities
reflected in the investment account of the Fund.
Very truly yours,
Chancellor LGT Asset Management, Inc.
/s/ HELGE K. LEE /s/ KENNETH W. CHANCEY
- ---------------------------------- --------------------------------------
Helge K. Lee Kenneth W. Chancey
Chief Legal and Compliance Officer Senior Vice President, Fund Accounting
and Secretary
<PAGE> 2
REPORT ON EXAMINATION OF SECURITIES PURSUANT TO RULE 17f-2
----------------------------------------------------------
To the Board of Trustees of the GT Global New Dimension Fund:
We have examined management's assertion about GT Global New Dimension
Fund's (the "Fund") compliance with the requirements of subsections (b) and (c)
of Rule 17f-2 under the Investment Company Act of 1940 (as interpreted in the
Response of the Office of Chief Counsel, Division of Investment Management, Ref.
No. 92-237-CC) as of March 10, 1998, and during the period from December 31,
1997 (date of our last examination) through March 10, 1998, included in the
accompanying Management Statement Regarding Compliance with Certain Provisions
of the Investment Company Act of 1940. Management is responsible for the Fund's
compliance with those requirements. Our responsibility is to express an
opinion on management's assertion about the Fund's compliance based on our
examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Fund's compliance with those
requirements and performing such other procedures as we considered necessary in
the circumstances. Our examination was made without prior notice to the Fund.
Included among our procedures were the following tests performed as of March 10,
1998, and with respect to the test of selected security purchases and sales, for
the period from December 31, 1997 through March 10, 1998:
* Confirmation of the number of shares of beneficial interest of the
underlying funds owned by the Fund and held by a securities depository
which uses the book entry method of accounting for securities (i.e.
GT Global Investor Services, Inc).
* Reconciliation of all such shares of beneficial interest to the books
and records of the Fund.
* Test of selected purchases and sales of underlying fund shares since
our last report from the books and records of the Fund to a
confirmation from GT Global Investor Services, Inc.
We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination of the Fund's compliance
with specified requirements.
In our opinion, management's assertion that the Fund above was in compliance
with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
Company Act of 1940 (as interpreted in the Response of the Office of Chief
Counsel, Division of Investment Management, Ref. No. 92-237-CC) as of
March 10, 1998 with respect to securities reflected in the investment account of
the Fund is fairly stated, in all material respects.
<PAGE> 3
This report is intended solely for the information and use of management of the
Fund and the Securities and Exchange Commission and should not be used for any
other purposes.
/s/ COOPERS & LYBRAND L.L.P.
COOPERS & LYBRAND L.L.P.
Boston, Massachusetts
May 5, 1998
<PAGE> 4
UNITED STATES OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION ------------------------------
WASHINGTON, D.C. 20549 OMB NUMBER: 3235-0360
EXPIRES:
FORM N-17f-2 ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE.......0.05
Certificate of Accounting of Securities ------------------------------
and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
- --------------------------------------------------------------------------------
1. Investment Company Act File Number: Date Examination Completed:
811-7782 March 10, 1998
- --------------------------------------------------------------------------------
2. State Identification Number:
Appendix A
- --------------------------------------------------------------------------------
AL AK AZ AR CA CO
- --------------------------------------------------------------------------------
CT DE DC FL GA HI
- --------------------------------------------------------------------------------
ID IL IN IA KS KY
- --------------------------------------------------------------------------------
LA ME MD MA MI MN
- --------------------------------------------------------------------------------
MS MO MT NE NV NH
- --------------------------------------------------------------------------------
NJ NM NY NC ND OH
- --------------------------------------------------------------------------------
OK OR PA RI SC SD
- --------------------------------------------------------------------------------
TN TX UT VT VA WA
- --------------------------------------------------------------------------------
WV WI WY PUERTO RICO
- --------------------------------------------------------------------------------
Other (specify):
- --------------------------------------------------------------------------------
3. Exact name of investment company as specified in registration statement:
GT Global Series Trust: GT Global New Dimension Fund
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
4. Address of principal executive office
(number, street, city, state, zip code):
50 California Street, San Francisco, California 94111
- --------------------------------------------------------------------------------
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
<PAGE> 5
APPENDIX A
GT GLOBAL SERIES TRUST: GT GLOBAL NEW DIMENSION FUND
STATE CLASS OF SHARES PERMIT NUMBER
Alaska N/A 98-00423
Alabama N/A N/A
Arizona A S-0055362-QUAL
Arizona B S-0055363-QUAL
Arizona C S-0056705-QUAL
Arizona Advisor S-0055361-QUAL
Arkansas N/A 97-M0704-01
California N/A N/A
Colorado N/A IC98-13-225
Connecticut N/A SI44117
Delaware N/A N/A
Florida N/A N/A
Georgia N/A 56-002491
Guam N/A 4391
Hawaii N/A N/A
Idaho N/A 48244
Illinois N/A 9737435
Indiana N/A 97-0463 IC
Iowa A I-39248
Iowa B I-39249
Iowa C I-40193
Iowa Advisor I-39250
Kentucky Advisor M34120
Louisiana A,B,C 51934
Louisiana Advisor 51933
Maryland A SM971269
Maryland B SM971267
Maryland C SM972127
Maryland Advisor SM971268
Massachusetts A N/A
Massachusetts B N/A
Massachusetts C N/A
Massachusetts Advisor N/A
Maine A 98-1252
Maine B 98-1253
Maine C MF-98-5450
Maine Advisor 98-1254
Michigan A 276032
Michigan B 276030
Michigan C 276453
Michigan Advisor 276031
Minnesota N/A R-39931.1
Mississippi A MF-97-08-100
Mississippi B MF-97-08-102
Mississippi C MF-97-12-220
Mississippi Advisor MF-97-08-101
Missouri N/A 0001-85634
<PAGE> 6
Montana A,B,C 37472
Montana Advisor 37473
North Carolina N/A 7195
North Dakota A T611
North Dakota B T612
North Dakota C U555
North Dakota Advisor T610
Nebraska A 119108
Nebraska B 119109
Nebraska C 022938
Nebraska Advisor 119107
New Hampshire A N/A
New Hampshire B N/A
New Hampshire C N/A
New Hampshire Advisor N/A
New Jersey A N/A
New Jersey B N/A
New Jersey C N/A
New Jersey Advisor N/A
New Mexico A 977422
New Mexico B 977420
New Mexico C 671906
New Mexico Advisor 977419
New York N/A S280493
Nevada A N/A
Nevada B N/A
Nevada C N/A
Nevada Advisor N/A
Ohio A,B,C 10592
Ohio Advisor 10591
Oklahoma A,B,C I-355797
Oklahoma Advisor I-355897
Oregon A,B,C 97-0795
Oregon Advisor 97-0794
Pennslyvania N/A 97-08-023MF
Puerto Rico A S-18375
Puerto Rico B S-18375-1
Puerto Rico C S-18375-2
Puerto Rico Advisor S-18376
Rhode Island N/A N/A
South Carolina N/A MF10871
South Dakota A 10828
South Dakota B 10829
South Dakota C 13107
South Dakota Advisor 10830
Tennessee A RM98-1939
Tennessee B RM98-1939
Tennessee C M98-1477
Tennessee Advisor RM98-1939
Texas A C 53647
Texas B C53648
Texas C C 54664
Texas Advisor C53646
<PAGE> 7
Utah A,B,C B00013247
Utah Advisor B00013234
Vermont A 8/12/97-30
Vermont B 8/12/97-29
Vermont C 12/11/97-44
Vermont Advisor 8/12/97-28
Washington A C-56669
Washington B C-56670
Washington C C-57643
Washington Advisor C-56671
Wisconsin A 335111-03
Wisconsin B 335110-03
Wisconsin C 339966-03
Wisconsin Advisor 335112-03
West Virginia A MF-22887
West Virginia B MF-22885
West Virginia C MF-23896
West Virginia Advisor MF-22884
Wyoming N/A 20619
