U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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:
Federated High Yield Trust
Federated Investors
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
2. Name of each series or class of funds for which this
notice is filed:
Federated High Yield Trust
3. Investment Company Act File Number:
811-4018
Securities Act File Number:
2-91091
4. Last day of period for which this notice is filed:
February 29, 1996
5. Check box if this notice is being filed more than
180 days after the close of the issuer's fiscal year
for purposes of reporting securities sold after the
close of the fiscal year but before termination of
the issuer's 24f-2 declaration:
[ ]
6. Date of termination of issuer's declaration under
rule 24f-2(a)(1), if applicable:
7. Number and amount of securities of the same class or
series which had been registered under the
Securities Act of 1933 other than pursuant to rule
24f-2 in a prior fiscal year, but which remained
unsold at the beginning of the fiscal year:
0; $0
8. Number and amount of securities registered during
the fiscal year other than pursuant to rule 24f-2:
0; $0
9. Number and aggregate sale price of securities sold
during the fiscal year (includes DRIP shares):
98,298,493; $873,850,799
10. Number and aggregate sale price of securities sold
during the fiscal year in reliance upon registration
pursuant to rule 24f-2:
98,298,493; $873,850,799
11. Number and aggregate sale price of securities issued
during the fiscal year in connection with dividend
reinvestment plans, if applicable:
12. Calculation of registration fees:
(i) Aggregate sale price of securities sold during the
fiscal year in reliance on rule 24f-2 (from Item 10):
$873,850,799
(ii) Aggregate price of shares issued in connection with
dividend reimbursement plans
(from Item 11, if applicable) +
(iii)Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable) - 696,738,256
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees
pursuant to rule 24e-2 (if applicable) + 0
(v) Net aggregate price of securities sold and issued
during the fiscal year in reliance on rule 24f-2 [line
(i), plus line (ii), less line (iii), plus line (iv)]
(if applicable): 177,112,543
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see
Instruction C.6): x 1/2900
(vii) Fee due [line (i) or line (v) multiplied by line
(vi)]: $61,073
Instruction: Issuers should complete lines (ii), (iii), (iv), and
(v) only if the form in being filed within 60 days
after the close of the issuer's fiscal year. See
Instruction C.3.
13. Check box if fees are being remitted to the
Commission's lockbox depository as described in
section 3a of the Commission's Rules of Informal and
Other Procedures (17 CFR 202.3a).
[ ]
Date of mailing or wire transfer of filing fees to
the Commission's lockbox depository:
April 15, 1996
SIGNATURES
This report 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)*
J. Crilley Kelly
Assistant Secretary
Date: April 15, 1996
* Please print the name and title of the signing officer
below the signature.
CONVERSION OF NET REDEMPTIONS ON
FORM 24F-2 TO FILING
UNDER RULE 24e-2
When a zero appears on line 12 - Calculation of registration fee, (v), the
following calculation should be made to determine the share information
needed to file under Rule 24e-2:
1.Total redemptions (per annual report) 78,383,729
2.Less:
(i) Line 10 - Form 24F-2 (share amount) 98,298,493
(ii) Line 11 - Form 24F-2 (share amount)
Total number of securities sold during
the period pursuant to Rule 24f-2 98,298,493
3. Shares available to register under Rule 24e-2 0
4. Fund's Current Net Asset Value $ 8.98
5. Multiply: Shares available to register under Rule 24e-2 by the fund's
current net asset value (3 x 4) to obtain Proposed Maximum Aggregate Offering
Price $ 0
FEDERATED ADMINISTRATIVE
SERVICES
FEDERATED INVESTORS TOWER
PITTSBURGH, PA 15222-3779
412-288-1900
April 15, 1996
Federated High Yield Trust
Federated Investors Tower
Pittsburgh, PA 15222-3779
Gentlemen:
You have requested my opinion for use in conjunction with a Rule 24f-2
Notice for Federated High Yield Trust ("Trust") to be filed in respect of
shares of the Trust ("Shares") sold for the fiscal year ended February 29,
1996, pursuant to the Trust's registration statement filed with the
Securities and Exchange Commission (the "SEC") under the Securities Act of
1933 (File No. 2-91091 ("Registration Statement").
In its Registration Statement, the Trust elected to register an
indefinite number of shares pursuant to the provisions of Investment
Company Act Rule 24f-2.
As counsel, I have participated in the preparation and filing of the
Trust's amended Registration Statement under the Securities Act of 1933.
Further, I have examined and am familiar with the provisions of the
Declaration of Trust dated April 17, 1984, ("Declaration of Trust"), the
Bylaws of the Trust and such other documents and records deemed relevant. I
have also reviewed questions of law and consulted with counsel thereon as
deemed necessary or appropriate by me for the purposes of this opinion.
On the basis of the foregoing, it is my opinion the Shares sold for
the fiscal year ended February 29, 1996, registration of which the Rule
24f-2 Notice makes definite in number, were legally issued, fully paid and
non-assessable by the Trust.
I hereby consent to the filing of this opinion as an exhibit to the
Rule 24f-2 Notice referred to above, the Registration Statement of the
Trust and to any application or registration statement filed under the
securities laws of any of the States of the United States.
The foregoing opinion is limited to the Federal laws of the United
States and the laws of the Commonwealth of Massachusetts, and I am
expressing no opinion as to the effect of the laws of any other
jurisdiction.
Very truly yours,
J. Crilley Kelly
