FLAG INVESTORS FUNDS INC
24F-2NT, 2000-02-11
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                                  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.

                              PLEASE PRINT OR TYPE.

1.      Name and address of issuer:

                              Deutsche Funds, Inc.

                               Federated Investors

                            Federated Investors Tower

                       Pittsburgh, Pennsylvania 15222-3779

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]

3.      Investment Company Act File Number:  811-8227

        Securities Act File Number:          333-7008

4(a). Last day of fiscal year for which this Form is filed: AUGUST 31, 1999

4(b).   [   ] Check box if this Form 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.

4(c). [ ] Check box if this is the last time the issuer will be filing this
          Form.

5. Calculation of registration fee:

        (i)    Aggregate sale price of securities sold during
               the fiscal year pursuant to section 24(f): $    225,328,323

        (ii)   Aggregate price of securities redeemed or
               repurchased during the fiscal year:         $129,887,992

        (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: $ 0

        (iv)   Total available redemption credits [add Items 5(ii)
               and 5(iii)]:        --$   129,887,992

        (v)    Net sales -- if Item 5(i) is greater than Item 5(iv) [subtract
               Item 5(iv) from Item 5(i)]: $ 95,440331

        (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)]:     $0

        (vii)  Multiplier for determining registration fee
               (See Instruction C.9):  x    0.000278

        (viii) Registration fee due [multiply Item 5(v) by Item
               5(vii)] (enter "0" if no fee is due):    =$ 26,533

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 [effective date of recession
        of rule 24e-2], then report the amount of securities (number of shares
        or other units) deducted here: -0-. 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: -0-.

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): +  $____________

8.      Total of the amount of the registration fee due plus any interest due
        [line 5(viii) plus line 7]:   =  $-0-

9.      Date the registration fee and any interest payment was sent to the
        Commission's lockbox depository:  NOVEMBER 29, 1999

        Method of Delivery:
               [ x ]  Wire Transfer
               [   ]  Mail or other means


                                   SIGNATURES

This Form 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/Joseph Parascondola
                              JOSEPH PARASCONDOLA, TREASURER
Date:  November 29, 1999





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