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SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 06/30/1998
Institutional Investment Manager:
GLOBAL STRATEGY FINANCIAL INC.
33 BLOOR STREET, EAST
SUITE 1600
TORONTO ONTARIO CANA A6 M4W3T8
Name, Title and Telephone Number of Person Submitting Report:
PAUL NEILL CHIEF FINANCIAL OFFICER (416) 966-8776
Signature, Place and Date of Signing:
/s/ PAUL NEILL TORONTO ONTARIO CANA A6 07/30/1998
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
AEROQUIP VICKERS INC COM 007869100 1184 20288 SH SOLE 20288
AGNICO EAGLE MINES LTD COM 008474959 1240 400000 SH SOLE 400000
AIR CANADA CL A CL A NON VTG 008911950 8196 1013500 SH SOLE 1013500
AIRTOUCH COMMUNICATIONS INC COM 00949T100 5569 95300 SH SOLE 95300
ALBERTO CULVER CO CL A 013068200 206 8100 SH SOLE 8100
ALBERTSONS INC COM 013104104 3269 63100 SH SOLE 63100
ALCAN ALUM LTD COM 013716956 2752 100000 SH SOLE 100000
ALGOMA STL INC COM 01566M956 3485 1077500 SH SOLE 1077500
ALLERGAN INC COM 018490102 218 4700 SH SOLE 4700
ALLSTATE CORP COM 020002101 4943 53980 SH SOLE 53980
ALLTEL CORP COM 020039103 3646 78400 SH SOLE 78400
ALUMINUM CO AMER COM 022249106 264 4000 SH SOLE 4000
AMER GREET CL. A COM 026375106 3296 64700 SH SOLE 64700
AMER INT'L GRP COM 026874107 1482 10150 SH SOLE 10150
AMERICAN EXPRESS CO COM 025816109 5589 49025 SH SOLE 49025
AMERICAN GREETINGS CORP CL A 026375105 616 12100 SH SOLE 12100
AMERITECH CORP COM 030954101 5363 119500 SH SOLE 119500
AMERUS LIFE HLDGS INC COM 030732101 285 8800 SH SOLE 8800
AMR CORP DEL COM 001765106 4396 52800 SH SOLE 52800
ANHEUSER BUSCH COS INC COM 035229103 241 5100 SH SOLE 5100
ANTEC CORP COM 03664P105 218 9400 SH SOLE 9400
APPLIED MATERIALS INC COM 038222105 578 19600 SH SOLE 19600
ASIA PAC FD INC COM 044901106 268 42500 SH SOLE 42500
ASIA TIGERS FD INC COM 04516T105 271 43000 SH SOLE 43000
ASM LITHOGRAPHY HLDG N V ORD N07059111 378 13000 SH SOLE 13000
AT PLASTICS INC COM 001947951 11750 1440900 SH SOLE 1440900
ATLAS AIR INC COM 049164106 251 7434 SH SOLE 7434
BALLARD PWR SYS INC COM 05858H955 896 27600 SH SOLE 27600
BANK MONTREAL QUE COM 063671952 13761 250000 SH SOLE 250000
BARRICK GOLD CORP COM 067901959 4736 248900 SH SOLE 248900
BARRICK GOLD CORP INSTALMENT RCPT 067901306 607 50000 SH SOLE 50000
BEC ENERGY COM 05538M101 203 4900 SH SOLE 4900
BELLSOUTH CORP COM 079860102 5357 79800 SH SOLE 79800
BFC CONSTR CORP COM 054938956 1315 134100 SH SOLE 134100
BILLING CONCEPTS CORP COM 090063108 214 13800 SH SOLE 13800
BLYTH INDS INC COM 09643P108 255 7680 SH SOLE 7680
C+D TECHNOLOGIES COM 124661109 232 4000 SH SOLE 4000
CANADIAN IMPERIAL BK TORONTO COM 136069952 47845 1488500 SH SOLE 1488500
CANADIAN PAC LTD COM 135923951 1521 54050 SH SOLE 54050
CENTRAL FD CDA LTD CL A 153501952 725 187100 SH SOLE 187100
CENTRAL GARDEN + PET CO COM 153527106 209 6700 SH SOLE 6700
CENTURY COMMUNICATIONS CORP CL A 156503104 1074 57300 SH SOLE 57300
CHRYSLER CORP COM 171196108 378 6700 SH SOLE 6700
CISCO SYS INC COM 17275R102 1195 12985 SH SOLE 12985
CIT GROUP INC CL A 125577106 210 5600 SH SOLE 5600
CMAC INVT CORP COM 125662106 590 9600 SH SOLE 9600
COGNOS INC COM 19244C109 615 23100 SH SOLE 23100
COLTEC INDS INC COM 196879100 1344 67600 SH SOLE 67600
COLUMBIA / HCA HEALTHCARE CORP COM 197677107 216 7400 SH SOLE 7400
COMAIR HLDGS INC COM 199789108 284 9200 SH SOLE 9200
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
COMCAST CORP CL A SPL 200300200 321 7930 SH SOLE 7930
COMDISCO INC COM 200336105 3645 191848 SH SOLE 191848
CONSOLIDATED EDISON INC COM 209115104 3611 78400 SH SOLE 78400
CRANE CO COM 224399105 3116 64167 SH SOLE 64167
CREATIVE TECHNOLOGY LTD ORD Y1775U107 299 24200 SH SOLE 24200
DAYTON HUDSON CORP COM 239753106 3720 76700 SH SOLE 76700
DEAN FOODS CO COM 242361103 2148 39100 SH SOLE 39100
DIAL CORP NEW COM 25247D101 679 26160 SH SOLE 26160
DILLARDS INC CL A 254067101 282 6800 SH SOLE 6800
DOMTAR INC COM NPV 257561951 669 100000 SH SOLE 100000
DST SYS INC DEL COM 233326107 227 4050 SH SOLE 4050
EDISON INTL COM 281020107 3456 116900 SH SOLE 116900
EDPERBRASCAN LTD VTG SHS CL A 280905951 198939 11852150 SH SOLE 11852150
EG + G INC COM 268457108 231 7700 SH SOLE 7700
EL PASO NAT GAS CO COM 283695872 293 7650 SH SOLE 7650
EMC CORP COM 268648102 995 22200 SH SOLE 22200
EMCO LTD COM 290839950 1992 262400 SH SOLE 262400
ENERGY EAST CORP COM 29266M109 200 4800 SH SOLE 4800
EQUITABLE COMPANIES INC COM 29444G107 1222 16300 SH SOLE 16300
EQUITY CORP INTL COM 294644109 209 8700 SH SOLE 8700
ERICSSON L M TEL CO ADR CL B SEK 10 294821400 315 11000 SH SOLE 11000
ETHAN ALLEN INTERIORS INC COM 297602104 312 6240 SH SOLE 6240
EXEL LTD COM G3242A102 1050 13500 SH SOLE 13500
EXPRESS SCRIPTS INC CL A 302182100 258 3200 SH SOLE 3200
EXTENDICARE INC CDA SUB VTG SH 30224T954 11089 1368800 SH SOLE 1368800
FANNIEMAE COM 313586109 4649 75900 SH SOLE 75900
FANTOM TECHNOLOGIES INC COM 306906959 5974 545200 SH SOLE 545200
FEDERAL NATL MTG ASSN FANNIE M COM 313586109 565 9300 SH SOLE 9300
FERRO CORP COM 315405100 222 8779 SH SOLE 8779
FIRST UN CORP COM 337358105 204 3500 SH SOLE 3500
FIRSTENERGY CORP COM 337932107 3183 103500 SH SOLE 103500
FLEXTRONICS INTERNATIONAL COM Y2573F102 711 16350 SH SOLE 16350
FORD MTR CO DEL COM 345370100 5310 90000 SH SOLE 90000
FPL GROUP INC COM 302571104 3560 56500 SH SOLE 56500
FREMONT GEN CORP COM 357288109 261 4810 SH SOLE 4810
GALILEO INTL INC COM 363547100 599 13300 SH SOLE 13300
GANNETT INC COM 364730101 3631 51100 SH SOLE 51100
GATX COM 361448103 202 4600 SH SOLE 4600
GENERAL NUTRITION COS INC COM 37047F103 3735 120000 SH SOLE 120000
GENERAL RE CORP COM 370563108 380 1500 SH SOLE 1500
GLOBAL TELESYSTEMS GROUP INC COM 37936U104 1209 24800 SH SOLE 24800
HALLIBURTON CO COM 406216101 321 7200 SH SOLE 7200
HARSCO CORP COM 415864107 265 5787 SH SOLE 5787
HASBRO INC COM 418056107 448 11400 SH SOLE 11400
HEALTH CARE + RETIREMENT CORP COM 421937103 300 7600 SH SOLE 7600
HEALTH MGMT ASSOC CL A 421933102 257 7700 SH SOLE 7700
HELLER FINL INC CL A 423328103 200 6660 SH SOLE 6660
HENRY SCHEIN INC COM 806407102 581 12600 SH SOLE 12600
HILLENBRAND INDS INC COM 431573104 570 9500 SH SOLE 9500
HILLENBRAND INDS INC COM 431573104 3006 50100 SH SOLE 50100
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
HOLLINGER INC RETRACTABLE COMM 43556C606 45456 3844300 SH SOLE 3844300
HOLLINGER INTERNATIONAL INC CL A 435569108 3910 230000 SH SOLE 230000
HORACE MANN EDUCATORS CORP NEW COM 440327104 2032 58900 SH SOLE 58900
HORMEL FOODS CORP COM 440452100 3090 89400 SH SOLE 89400
HUMMINGBIRD COMMUNICATIONS LTD COM 44544R952 1588 59400 SH SOLE 59400
IMPERIAL OIL LTD COM 453038960 2622 150000 SH SOLE 150000
INCO LTD COM 453258402 206 15100 SH SOLE 15100
INTERNATIONAL HOME FOODS INC COM 459655106 387 17000 SH SOLE 17000
INVACARE CORP COM 461203101 264 10300 SH SOLE 10300
IPALCO ENTERPRISES COM RTS CALLABLE 462613100 315 7090 SH SOLE 7090
IVEX PACKAGING CORP DEL COM 465855104 223 9600 SH SOLE 9600
JACOR COMMUNICATIONS INC COM 469858401 360 6100 SH SOLE 6100
JANNOCK LTD COM 470888959 8014 604800 SH SOLE 604800
JAPAN OTC EQUITY FUND 471091108 1132 208100 SH SOLE 208100
JOSTENS INC COM 481088102 322 13500 SH SOLE 13500
KEEBLER FOODS CO COM 487256109 456 16590 SH SOLE 16590
KINROSS GOLD CORP COM 496902958 336 100000 SH SOLE 100000
KLA TENCOR CORP COM 482480100 335 12100 SH SOLE 12100
KNOLL INC COM 498904101 245 8300 SH SOLE 8300
LAFARGE CORP COM 505862102 3758 95600 SH SOLE 95600
LAIDLAW ENVIRONMENTAL SVCS INC COM 50730L105 2596 465300 SH SOLE 465300
LAUDER ESTEE COS INC CL A 518439104 857 12300 SH SOLE 12300
LIMITED INC COM 532716107 265 8000 SH SOLE 8000
LIZ CLAIBORNE INC COM 539320101 3980 76167 SH SOLE 76167
LOEWS CORP COM 540424108 2840 32600 SH SOLE 32600
MACKENZIE FINL CORP COM 554531954 56520 4018000 SH SOLE 4018000
MAGNA INTL INC CL A SUB VTG 559222955 2943 43000 SH SOLE 43000
MANUFACTURED HOME CMNTYS INC COM 564682102 251 10400 SH SOLE 10400
MARKETSPAN CORP COM 57061V107 237 7920 SH SOLE 7920
MASCO CORP COM 574599106 321 5300 SH SOLE 5300
MATAV RT (Magyar Tavkozlesi) ADR 559776109 339 11500 SH SOLE 11500
MAYTAG CORP COM 578592107 4064 82300 SH SOLE 82300
MCDERMOTT INTL INC COM 580037109 301 8750 SH SOLE 8750
MDC COMMUNICATIONS CORP CL A SUB VTG 55267W952 8674 898900 SH SOLE 898900
METALLICA RES INC COM 59125J955 241 236500 SH SOLE 236500
MICRON TECHNOLOGY INC COM 595112103 228 9200 SH SOLE 9200
MICROVISION INC WASH COM 594960106 300 32000 SH SOLE 32000
MIDCAP SPDR TR UNIT SER 1 595635103 1205 17300 SH SOLE 17300
MILLER HERMAN INC MLHR COM 600544100 224 9200 SH SOLE 9200
MITEL CORP COM NPV 606711950 3243 238000 SH SOLE 238000
MLHR (FORMERLY HERMAN NILLERI COM 600544100 2850 117200 SH SOLE 117200
MOBIL CORP COM 607059102 526 6870 SH SOLE 6870
MOORE CORP LTD COM 615785953 1060 80000 SH SOLE 80000
MORGAN STANLEY ASIA PAC FD INC COM 61744U106 212 33000 SH SOLE 33000
MORGAN STANLEY EMERGING MKTS FUND 61744G107 860 91700 SH SOLE 91700
NATIONAL SVC INDS INC COM 637657107 1888 37100 SH SOLE 37100
NICE SYS LTD SPONSORED ADR 653656108 412 11000 SH SOLE 11000
NIKE INC CL B 654106103 365 7500 SH SOLE 7500
NOKIA CORP SPONSORED ADR 654902204 479 6600 SH SOLE 6600
NOVELL INC COM 670006105 1014 79500 SH SOLE 79500
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
OCCIDENTAL PETE CORP PFD CONV CXY IND 674599790 237 3000 SH SOLE 3000
OPEN JT STK CO VIMPEL COMMN SPONSORED ADR 68370R109 783 17500 SH SOLE 17500
ORYX ENERGY CO COM 68763F100 299 13500 SH SOLE 13500
PACCAR INC COM 693718108 2095 40100 SH SOLE 40100
PACIFICARE HEALTH SYSTEMS CL B 695112201 965 10996 SH SOLE 10996
PAIRGAIN TECHNOLOGIES INC COM 695934109 200 11450 SH SOLE 11450
PAN AMERICAN SILVER CORP COM 697900959 844 93400 SH SOLE 93400
PETRO CDA COM 71644E953 13095 813400 SH SOLE 813400
PHYCOR INC COM 71940F100 227 13720 SH SOLE 13720
PIER 1 IMPORTS INC COM 720279108 254 10650 SH SOLE 10650
PLACER DOME INC COM 725906952 2045 176000 SH SOLE 176000
PRECISION DRILLING CORP COM 74022D951 1934 98300 SH SOLE 98300
PREMDOR INC COM 74046P956 10107 1025700 SH SOLE 1025700
PRIME RES GROUP INC COM 74157L950 5994 856400 SH SOLE 856400
PROFFITTS INC COM 742925100 292 7220 SH SOLE 7220
PROTECTIVE LIFE CORP COM 743674103 1834 50000 SH SOLE 50000
PROTEIN DESIGN LABS INC COM 74369L103 228 9460 SH SOLE 9460
PROVIDIAN FINL CORP COM 74406A102 247 3150 SH SOLE 3150
RITE AID CORP COM 767754104 263 7000 SH SOLE 7000
ROBERT HALF INTL INC COM 770323103 349 6254 SH SOLE 6254
ROSS STORES INC COM 778296103 2064 48000 SH SOLE 48000
ROYAL BK CDA MONTREAL QUE COM 780087953 33799 562000 SH SOLE 562000
RUSSEL METALS INC COM 781903604 1537 471300 SH SOLE 471300
SCHERING PLOUGH CORP COM 806605101 5623 61370 SH SOLE 61370
SCI SYS INC COM 783890106 290 7720 SH SOLE 7720
SELECT APPOINTMENTS HLDGS PLC SPONSORED ADR 81617E203 286 9690 SH SOLE 9690
SEMPRA ENERGY COM 816851109 2246 80753 SH SOLE 80753
SENSORMATIC ELECTRS CORP COM 817265101 210 15000 SH SOLE 15000
SONIC CORP COM 835451105 314 14025 SH SOLE 14025
STAFFMARK INC COM 852389105 201 5500 SH SOLE 5500
STAGE STORES INC COM 85254C107 240 5300 SH SOLE 5300
STAPLES INC COM 855030102 256 8850 SH SOLE 8850
STEWART ENTERPRISES INC CL A 860370105 250 9400 SH SOLE 9400
SUIZA FOODS CORP COM 865077101 424 7100 SH SOLE 7100
SUN INC COM 866762109 3412 87900 SH SOLE 87900
SUNCOR ENERGY INC COM NPV 867229957 849 25000 SH SOLE 25000
SUNDSTRAND CORP COM 867323107 3315 57900 SH SOLE 57900
SUPERIOR SVCS INC COM 868316100 253 8400 SH SOLE 8400
SUTTON RES LTD COM 869474957 2071 365000 SH SOLE 365000
SYLVAN LEARNING SYS INC COM 871399101 206 6300 SH SOLE 6300
SYMBOL TECHNOLOGIES INC COM 871508107 364 9640 SH SOLE 9640
TALISMAN ENERGY INC COM 87425E954 2947 103000 SH SOLE 103000
TELE COMMUNICATIONS INC NEW COM TCI GROUP SE 87924V101 718 24948 SH SOLE 24948
TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287100 258 2362 SH SOLE 2362
TELEGLOBE INC COM 87941V951 1119 42000 SH SOLE 42000
TERADYNE INC COM RTS CALLABLE 880770102 480 17950 SH SOLE 17950
TESMA INTL INC SUB VTG CL A 881908958 917 70100 SH SOLE 70100
TEXTRON INC COM 883203101 358 5000 SH SOLE 5000
TIME WARNER INC COM 887315109 393 4600 SH SOLE 4600
TMP WORLDWIDE INC COM 872941109 816 23400 SH SOLE 23400
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
TOMMY HILFIGER CORP COM G8915Z102 331 5300 SH SOLE 5300
TORCHMARK INC COM 891027104 3765 82300 SH SOLE 82300
TORONTO DOMINION BK ONT COM 891160954 58016 1283800 SH SOLE 1283800
TRANSCANADA PIPELINES LTD COM 893526897 12725 700000 SH SOLE 700000
TRANSCANADA PIPELINES LTD COM 893526954 5467 246800 SH SOLE 246800
TRIBUNE CO NEW COM 896047107 289 4200 SH SOLE 4200
TRINITY INDS INC COM 896522109 1602 38600 SH SOLE 38600
U S INDS INC NEW COM 912080108 364 14690 SH SOLE 14690
UAL CORP COM 902549500 218 2800 SH SOLE 2800
UNILEVER N V COM 904784501 560 7100 SH SOLE 7100
UNITED HEALTHCARE CORP COM 910581107 254 4000 SH SOLE 4000
UNITRIN INC COM 913275103 3454 49700 SH SOLE 49700
UNIVERSAL CORP VA COM 913456109 2041 54600 SH SOLE 54600
UNIVERSAL HEALTH SVCS INC CL B 913903100 222 3800 SH SOLE 3800
USG CORP COM 903293405 2360 43600 SH SOLE 43600
USX U S STL GROUP COM 90337T101 2386 72300 SH SOLE 72300
V F CORP COM 918204108 397 7700 SH SOLE 7700
VALASSIS COMMUNICATIONS INC COM 918866104 315 8180 SH SOLE 8180
VENGOLD INC COM 92267K951 558 551500 SH SOLE 551500
VIACOM INC B CL B 925524308 367 6300 SH SOLE 6300
VULCAN MATLS CO COM 929160109 3462 32450 SH SOLE 32450
WAL MART STORES INC COM 931142103 6252 103170 SH SOLE 103170
WANG LABS INC NEW COM 93369N109 313 12300 SH SOLE 12300
WATERS CORP COM 941848103 215 3650 SH SOLE 3650
WELLPOINT HEALTH NETWORKS INC CL A 94973H108 4618 62400 SH SOLE 62400
WELLS FARGO + CO COM 949740104 627 1700 SH SOLE 1700
WESCAST INDS INC CL A SUB VTG 950813956 4904 174100 SH SOLE 174100
WESTERN STAR TRUCKS HLDGS LTD COM 95960H951 2533 150000 SH SOLE 150000
WESTPOINT STEVENS INC COM 961238102 397 12020 SH SOLE 12020
WORLDCOM INC GA COM 98155K102 886 18300 SH SOLE 18300
YORK INTL CORP COM 986670107 218 5000 SH SOLE 5000
REPORT SUMMARY 231 DATA RECORDS 836327 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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