U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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:
Bailard, Biehl & Kaiser Fund Group
2. Name of each series or class of funds for which this notice is filed:
Bailard, Biehl & Kaiser Diversa Fund
3. Investment Company Act File Number: 811-04828
Securities Act File Number: 33-8841
4. Last day of fiscal year for which this notice is filed:
September 30, 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 (see instruction A.6):
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
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2: 0
9. Number and aggregate sales price of securities sold during the fiscal year:
382,059 $4,950,616
10. Number and aggregate sales price of securities sold during the fiscal year
in reliance upon registration pursuant to rule 24f-2:
382,059 $4,950,616
<PAGE>
11. Number and aggregate sales price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable (see
instruction B.7):
As permitted by instruction B.7, DRIP shares are included in the securities
reported in Item 9.
12. Calculation of registration fee:
(I) Aggregate sales price of securities sold
during the fiscal year in reliance on rule
24f-2 (from item 10): $ 4,950,616
--------------------
(ii) Aggregate price of shares issued in
connection with dividend reinvestment plans
(from Item 11, if applicable) +
--------------------
(iii) Aggregate price of shares redeemed or
repurchased during the fiscal year (if
applicable): - 9,693,163
--------------------
(iv) aggregate price of shares redeemed or
repurchased and previously applied as a
reduction to filing fees pursuant to rule
24e-2 (if applicable): +
--------------------
(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): $(4,742,547)
--------------------
(vi) Multiplier prescribed by Section 6(b) of
the Securities Act of 1933 or other
applicable law or regulation (see
instruction C.6): x 0.00030303
--------------------
(vii) Fee due [line (I) or line (v) multiplied
by line (vi)]: $ 0
====================
Instructions: issuers should complete lines (ii), (iii), (iv), and (v) only if
the form is 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 the Informal and
Other Procedures 917 CFR 202.3a). [ ]
Date of mailing or wire transfer of file fees to the Commission's lockbox
depository: N/A- Net Redemptions
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/Barbara V. Bailey
Barbara V. Bailey/ Treasurer
Date: November 25, 1996
* Please print the name and title of the signing officer below the signature.
[HOWARD RICE NEMEROVSKI CANADY FALK & RABKIN LETTERHEAD]
November 26, 1996
Bailard, Biehl & Kaiser Fund Group, Inc.
2755 Campus Drive
San Mateo, CA 94403
Re: Rule 24f-2 Notice
Ladies and Gentlemen:
We have acted as counsel for the Bailard, Biehl & Kaiser Fund Group,
Inc., a Massachusetts business trust (the "Company"), in connection with the
preparation and filing of a Notice pursuant to Rule 24f-2 under the Investment
Company Act of 1940, as amended, concerning sales of the Company's shares during
the fiscal year ended September 30, 1996 (the "Notice").
We have examined records, instruments, certificates and other documents
that we deemed relevant and necessary for the basis of our opinion hereinafter
expressed. In such examination, we have assumed the following: (a) the
authenticity of original documents and the genuineness of all signatures; (b)
the conformity to the originals of all documents submitted to us as copies; and
(c) the truth, accuracy and completeness of the information, representations and
warranties contained in the documents we have reviewed.
Based on such examination, we are of the opinion that the shares sold
during the fiscal year ended September 30, 1996 as reported in the Notice were
legally issued and are fully paid and nonassessable except to the extent
<PAGE>
Bailard, Biehl & Kaiser Fund Group
November 26, 1996
Page 2
that the shareholders of a Massachusetts business trust may under certain
circumstances be subject to assessment at the instance of creditors to pay the
obligations of such trust in the event that its assets are insufficient for the
purpose.
Very truly yours,
HOWARD, RICE, NEMEROVSKI,
CANADY, FALK & RABKIN
A Professional Corporation
By: /s/ Andre W. Brewster
----------------------------
Andre W. Brewster
AWB:mcw
cc:Ms. Sofi Zacharias
