SIMMS FUNDS
N-18F1, 1998-12-01
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                 NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1
                    UNDER THE INVESTMENT COMPANY ACT OF 1940



                                 THE SIMMS FUNDS
                            Exact Name of Registrant

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                            NOTIFICATION OF ELECTION

         The undersigned  registered open-end investment company hereby notifies
the Securities and Exchange Commission that it 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,  as  amended  (the  "1940  Act").  It is
understood that this election is irrevocable while such Rule is in effect unless
the  Commission   order  upon   application   permits  the  withdrawal  of  this
Notification of Election.

                                    SIGNATURE

         Pursuant  to the  requirements  of Rule 18f-1  under the 1940 Act,  the
Registrant has caused this  notification  of election to be duly executed on its
behalf  in the  City of New  York  and the  State of New York on the 20th day of
November, 1998.

                  Signature:                         THE SIMMS FUNDS
                                                     (Name of Registrant)
                                                     By: /s/ Peter M. Gorman
                                                         --------------------
                                                         Peter M. Gorman
                                                         Secretary


Attest: /s/ Arthur O. Poltrack
        ----------------------
     Name:  Arthur O. Poltrack
     Title: Chief Financial Officer



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