BT INVESTMENT FUNDS
6 ST. JAMES AVENUE
BOSTON, MASSACHUSETTS 02116
(617) 423-0800
November 15, 1995
Division of Investment Management
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC 20549
RE: RULE 24F-2 NOTICE FOR BT INVESTMENT FUNDS WITH RESPECT TO PACIFIC BASIN
EQUITY FUND, LATIN AMERICAN EQUITY FUND, SMALL CAP FUND, GLOBAL HIGH YIELD
SECURITIES FUND, INTERNATIONAL EQUITY FUND, AND CAPITAL APPRECIATION FUND
(REGISTRATION STATEMENT FILE NO. 33-7404)
Ladies and Gentlemen:
The purpose of this letter is to notify the Commission within two months of
the end of the Registrant's fiscal year of the number of Registrant's shares
sold during the last fiscal year which are to be registered pursuant to Rule
24f-2 and to pay the appropriate registration fee.
The information required by the above-referenced rule is as follows:
1. This "Rule 24f-2 Notice" is being filed for the fiscal year ending
September 30, 1995 ("Fiscal Year").
2. No shares of the capital stock of the Registrant were registered during
the Fiscal Year, other than pursuant to Rule 24f-2.
3. 14,230,315 shares of the capital stock of the Registrant were sold
during the Fiscal year.
4. All 14,230,315 shares of the capital stock of the Registrant were sold
during the Fiscal Year in reliance upon the Declaration of the
Registrant of an indefinite amount of securities under Rule 24f-2
("24f-2 Declaration").
5. Attached to this Rule 24f-2 Notice, and made 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.
<PAGE>
Division of Investment Management
Securities and Exchange Commission
November 15, 1995
Page 2
6. In accordance with subsection (c) of Rule 24f-2, the actual aggregate sales
price used to calculate the required filing fee is $19,037.96. The fee
computation is based upon the actual aggregate sale price for which such
securities were sold during the Fiscal Year, reduced by the difference between:
(1) The actual aggregate redemption price of the shares redeemed by the
Registrant during the Fiscal Year, and
(2) The actual aggregate redemption price of such redeemed shares
previously applied by the Registrant pursuant to 24e-2(a) in the
filings made pursuant to Section 24(e)(1) of the Investment Company Act
of 1940.
Aggregate Sale Price for Shares Sold During Fiscal
Year in Reliance Upon the 24f-2 Declaration for
Pacific Basin Equity Fund $12,685,645
Latin American Equity Fund 18,486,926
Small Cap Fund 90,112,541
Global High Yield Securities Fund 18,303,164
International Equity Fund 35,856,451
Capital Appreciation Fund 12,626,445
----------
188,071,172
Reduced by the difference Between
(1) Aggregate Redemption Price of
Shares Redeemed During the Fiscal
Year for
Pacific Basin Equity Fund $11,811,813
Latin American Equity Fund 19,586,772
Small Cap Fund 18,568,384
Global High Yield Securities Fund 10,128,669
International Equity Fund 18,711,160
Capital Appreciation Fund 14,074,566
----------
92,881,364
and,
(2) Aggregate Redemption Price of Redeemed
Shares Previously Applied by Registrant Pursuant
to 24e-2(a) Filings Made Pursuant to Section
24(e)(1) of Investment Company Act of 1940. $ -0-
Equals $95,189,808.
<PAGE>
Division of Investment Management
Securities and Exchange Commission
November 15, 1995
Page 3
7. Enclosed please find an opinion of counsel. The amount payable to the
Securities and Exchange Commission, $19,037.96 was wired to Account No. 910-8739
at Mellon Bank with reference "24f-2 filing, 33-7404". The fee has been
calculated as follows:
$95,189,808 / 5000 = $19,037.96
Very truly yours,
BT INVESTMENT FUNDS
By: /s/JAMES S. LELKO, JR.
James S. Lelko, Jr.
Assistant Treasurer
<PAGE>
6 ST. JAMES AVENUE
NINTH FLOOR
BOSTON, MASSACHUSETTS 02116
(617) 423-0800
November 15, 1995
BT Investment Funds
6 St. James Avenue
Boston, Massachusetts 02116
Ladies and Gentlemen:
RE: RULE 24F-2 NOTICE FOR BT INVESTMENT FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 1995.
This opinion is being furnished in connection with the registration,
pursuant to Rule 24f-2 under the Investment Company Act of 1940, as amended (the
"1940 Act"), of an indefinite number of Shares of Beneficial Interest (par value
$0.001 per share) (the "Shares") of Pacific Basin Equity Fund, Latin American
Equity Fund, Small Cap Fund, Global High Yield Securities Fund, International
Equity Fund, and Capital Appreciation Fund, (the "Funds"), series of BT
Investment Funds, a Massachusetts business trust (the "Trust"), under the
Securities Act of 1933, as amended (the "1933 Act"). I understand that the Trust
proposes to file a notice (the "Notice") with the Securities and Exchange
Commission (the "Commission") with respect to the Trust's fiscal year ended
September 30,1995, pursuant to such Rule 24f-2 under the 1940 Act. This opinion
is being furnished with a view to your filing it with the Commission in
conjunction with the filing of the Notice.
This opinion is limited solely to the laws of the Commonwealth of
Massachusetts as applied by courts in such Commonwealth. This opinion is limited
solely to the Shares of the Trust as of the fiscal year ended September 30, 1995
as reflected in the Notice. I understand that the foregoing limitation is
acceptable to you.
Based upon and subject to the foregoing, please be advised that it is
my opinion that the Shares covered by the Notice were legally issued and (to the
extent still outstanding) are fully paid and non-assessable, except that, as set
forth in the Trust's registration statement as currently in effect filed with
the Commission pursuant to the 1933 Act, shareholders of the Trust may under
certain circumstances be held personally liable for its obligations.
Very truly yours,
/s/PHILIP W. COODIDGE
Philip W. Coolidge
