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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24f-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24f-2
1. Name and address of issuer:
THE KENT FUNDS
3435 STELZER RD.
COLUMBUS, OHIO 43219
2. Name of each series or class of funds for which this notice is filed:
SEE ATTACHED SCHEDULE A
3. Investment Company Act File Number: 811-4824
Securities Act File Number: 33-8398
4. Last day of the fiscal year for which this notice is filed:
DECEMBER 31, 1996
5. Check box if this notice is being filed more than 180 days after the close of
the issuer's fiscal year for purpose 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:
NONE
8. Number and amount of securities registered during the fiscal year other than
pursuant to rule 24f-2:
NONE
9. Number and aggregate sale price of securities sold during the fiscal year:
$2,167,932,645 Price
1,195,123,489 Shares
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10. Number and aggregate sale price of securities sold during the fiscal year in
reliance upon registration pursuant to rule 24f-2:
$2,167,932,645 Price
1,195,123,489 Shares
11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable:
$95,839,208 Price
8,728,287 Shares
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2: $ 2,167,932,645
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(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans: $95,839,208
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(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year: $ 2,012,363,387
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(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a reduction to filing fees
pursuant to rule 24f-2: $0
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(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2:
$251,408,466
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(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or registration:
1/3300
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(vii) Fee due: $ 76,184.38
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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
[ X ]
Date of mailing or wire transfer of filing fees to the Commission's lockbox
depository:
FEBRUARY 27, 1997
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)* /s/ THOMAS E. LINE
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Thomas E. Line, Treasurer
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Date February 27, 1997
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* Please print the name and title of the signing officer below the signature.
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THE KENT FUNDS - SCHEDULE A
THE KENT GROWTH AND INCOME FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT SMALL COMPANY GROWTH FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT INTERNATIONAL GROWTH FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT INDEX EQUITY FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT SHORT TERM BOND FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT INTERMEDIATE BOND FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT INCOME FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT LIMITED TERM TAX-FREE FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT INTERMEDIATE TAX-FREE FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT TAX-FREE INCOME FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT MICHIGAN MUNICIPAL BOND FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT MONEY MARKET FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
THE KENT MICHIGAN MUNICIPAL MONEY MARKET FUND
INSTITUTIONAL SHARES
INVESTMENT SHARES
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February 27, 1997
The Kent Funds
3435 Stelzer Road
Columbus, Ohio 43219
Re: Form 24F-2 for The Kent Funds;
Registration No. 33-8398
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Ladies and Gentlemen:
We have acted as counsel for The Kent Funds, a Massachusetts business
trust (the "Company"), in connection with the registration under the Securities
Act of 1933, as amended, of units of beneficial interest (the "Shares") in its
Money Market Fund, Michigan Municipal Money Market Fund, Short Term Bond Fund,
Intermediate Bond Fund, Income Fund, Limited Term Tax-Free Fund, Intermediate
Tax-Free Fund, Tax-Free Income Fund, Michigan Municipal Bond Fund, Growth and
Income Fund, Small Company Growth Fund, International Growth Fund and Index
Equity Fund, made definite in number by the Form 24F-2 which this opinion
accompanies. The Company is authorized to issue an unlimited number of units of
beneficial interest of each of its portfolios.
During the Company's fiscal year ended December 31, 1996, all of the
Shares were classified among the portfolios identified above.
We have reviewed the Company's Restatement of Declaration of Trust, its
by-laws, resolutions adopted by its Board of Trustees and holders of its
Shares, and such other legal and factual matters as we have deemed appropriate,
and we have relied on the accuracy of the information in the Form 24F-2 which
this opinion accompanies. Insofar as our opinion below relates to matters
pertaining to Massachusetts law, we have relied upon the opinion of Ropes &
Gray, special Massachusetts counsel to the Company.
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This opinion is based exclusively on the law of the Commonwealth of
Massachusetts and the federal law of the United States of America.
Based on the foregoing, we are of the opinion that the Shares were,
when issued against payment therefor as described in the Company's
prospectuses, legally issued, fully paid and nonassessable by the Company.
We note that under certain circumstances, the shareholders of a
Massachusetts business trust may be subject to assessment at the instance of
creditors to pay the obligations of such trust in the event that such trust's
assets are insufficient for that purpose.
We hereby consent to the filing of this opinion with the Securities and
Exchange Commission as part of the Company's Form 24F-2.
Very truly yours,
/s/ Drinker Biddle & Reath
DRINKER BIDDLE & REATH
