GOLOBAL FUNDS MANAGEMENT SA
13F-NT, 2000-11-13
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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 13F

                               Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 2000

Check here if Amendment: |_|; Amendment Number: ____

This Amendment (Check only one): |_| is a restatement.
                                 |_| adds new holdings
                                    entries.

Institutional Investment Manager Filing this Report:

Name: Global Funds Management, S.A.
Address: 6 Avenue Emile Reuter, L-2420, Luxembourg

Form 13F File Number: 28-05739

The institutional  investment  manager filing this report and the person by whom
it is signed hereby  represent  that the person signing the report is authorized
to  submit  it,  that all  information  contained  herein is true,  correct  and
complete,  and  that it is  understood  that  all  required  items,  statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name: Gregory P. Gnall
Title: Deputy Director
Phone: (212) 667-1711

Signature, Place, and Date of Signing:

/s/Gregory P. Gnall               New York, NY  10281      November 13, 2000
    [Signature]                  [City, State]                   [Date]


Report Type (Check one only):

[ ]  13F HOLDINGS REPORT.  (Check here if all holdings of this reporting manager
     are reported in this report.)

[x]  13F NOTICE. (Check here if no holdings reported are in this report, and all
     holdings are reported by other reporting manager(s).)

[    ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
     reporting manager are reported in this report and a portion are reported by
     other reporting manager(s).)

List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]

Form 13F File Number               Name

28-04979                           Nomura Securities Co., Ltd.




<PAGE>

                              Form 13F SUMMARY PAGE

Report Summary:


Number of Other Included Managers:       None

Form 13F Information Table Entry Total: _____________

Form 13F Information Table Value Total: $____________
                                         (thousands)


List of Other Included Managers:

Provide  a  numbered  list of the  name(s)  and Form 13F file  nember(s)  of all
institutional  investment  managers  with respect to which this report is filed,
other than the manager filing this report.

[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]

 None



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