November 28, 1995
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Rule 24f-2 Notice for AARP Cash Investment Funds
(Securities Act Registration Statement File No. 2-81427)
for Fiscal Year Ended September 30, 1995
Dear Sir/Madam:
In accordance with the provisions of Rule 24f-2, AARP Cash Investment Funds (the
"Trust") hereby files its Rule 24f-2 Notice for the fiscal year ended September
30, 1995.
a) 85,505,319 shares of beneficial interest of the Trust were registered
under the Securities Act of 1933 (other than pursuant to Rule 24f-2)
and remained unsold at the beginning of the fiscal year.
b) No shares of beneficial interest of the Trust were registered during
the year other than pursuant to Rule 24f-2.
c) 405,381,235 shares of beneficial interest of the Trust were sold during
the fiscal year. (See Schedule A.)
d) 370,960,332 shares of beneficial interest of the Trust were sold during
the fiscal year in reliance upon the Trust's declaration in its
registration statement which became effective October 25, 1983, of the
registration of an indefinite amount of securities under Rule 24f-2.
Attached to the Rule 24f-2 Notice, and made a part hereof, is an
opinion of counsel indicating that the securities, the registration of
which the notice makes definite in number, were legally issued, fully
paid and non-assessable.
In accordance with subsection (c) of Rule 24f-2, no fee is required since the
actual aggregate sale price for which such securities were sold during the
fiscal year was reduced by the difference between:
(1) The actual aggregate redemption price of the shares redeemed
by the Trust during the fiscal year, and
(2) The actual aggregate redemption price of such redeemed shares
previously applied by the Trust pursuant to Rule 24e-2(a) in
filings made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.
<PAGE>
<TABLE>
<CAPTION>
<C> <C> <C>
Aggregate Sale Price For All Shares Sold During Fiscal Year Pursuant to Rule $370,960,332
24f-2
Reduced by the Difference Between
1) Aggregate Redemption Price of Shares Redeemed during the Fiscal Year $370,960,332
and,
2) Aggregate Redemption Price of Redeemed Shares Previously Applied by -0- $370,960,332
Fund Pursuant to Rule 24e-2(a) in Filings made pursuant to Section ------ ------------
24(e)(1) of Investment Company Act of 1940
$-0-
=============
</TABLE>
34,420,903 shares have been applied from the Trust's definite share
registration.
Any questions regarding the matter should be addressed to me at Scudder, Stevens
& Clark, Inc., Two International Place, Boston, MA 02110--4103.
Very truly yours,
/s/Thomas F. McDonough
Thomas F. McDonough
Assistant Secretary
<TABLE>
SCHEDULE A
<CAPTION>
Shares Sold Shares Redeemed
----------- ---------------
Fund* Shares Amount Shares Amount
- ----- ------ ------ ------ ------
<C> <C> <C> <C> <C>
AARP High Quality Money Fund 405,381,235 $405,381,235 370,960,332 $370,960,332
<FN>
* The above named Fund is a series of the Trust
</FN>
</TABLE>
2
Law Offices of
DECHERT PRICE & RHOADS
Ten Post Office Square - South
Boston, MA 02109-4603
Telephone: (617) 728-7100
November 27, 1995
AARP Cash Investment Funds
Two International Place
Boston, MA 02110
Dear Sirs:
As counsel for AARP Cash Investment Funds (the "Fund") during the fiscal
year ended September 30, 1995, we are familiar with the Fund's registration
under the Investment Company Act of 1940 and with the registration statement
relating to its Shares of Beneficial Interest (the "Shares") under the
Securities Act of 1933 (File No. 2-81427) (the "Registration Statement"). We
have also examined such other corporate records, agreements, documents and
instruments as we deemed appropriate.
Based upon the foregoing, it is our opinion that the Shares sold at the
public offering price and delivered by the Fund against receipt of the net asset
value of the Shares in compliance with the terms of the Registration Statement
and the requirements of applicable law during the Fund's fiscal year ended
September 30, 1995, were, when sold, duly and validly authorized, legally and
validly issued, and fully paid and non-assessable by the Fund.
We consent to the filing of this opinion in connection with the Notice
pursuant to Rule 24f-2 under the Investment Company Act of 1940 for the fiscal
year ended September 30, 1995 to be filed on behalf of the Fund with the
Securities and Exchange Commission.
Very truly yours,
/s/ Dechert Price & Rhoads
