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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
READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
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1. Name and address of issuer:
Norwest Advantage Funds(1)
Two Portland Square
Portland, Maine 04101
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2. Name of each series or class of funds for which this notice is filed:
Cash Investment Fund
U.S. Government Fund
Treasury Fund
Ready Cash Fund
Municipal Money Market Fund
Income Fund
Total Return Bond Fund
Tax-Free Income Fund
Colorado Tax-Free Fund
Minnesota Tax-Free Fund
ValuGrowth Stock Fund
Small Company Stock Fund
Contrarian Stock Fund
Small Company Growth Fund
Large Company Growth Fund
Index Fund
Income Equity Fund
Income Stock Fund
International Fund
Growth Equity Fund
Diversified Equity Fund
Diversified Bond Fund
(FORMERLY, MANAGED FIXED INCOME FUND)(2)
Intermediate Government Income Fund
(FORMERLY, INTERMEDIATE U.S. GOVERNMENT FUND)(3)
Government Income Fund
Conservative Balanced Fund
Moderate Balanced Fund
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(1) On October 1, 1995, the Board of Trustees of Norwest Funds adopted a
resolution changing the name of Norwest Funds to Norwest Advantage Funds.
(2) On October 1, 1995, the Board of Trustees of Norwest Advantage Funds
(then named Norwest Funds) adopted a resolution changing the name of the
Managed Fixed Income Fund to the Diversified Bond Fund.
(3) On April 27, 1996 the Board of Trustees of Norwest Advantage Funds adopted
a resolution changing the name of the Intermediate U.S. Government Fund to the
Intermediate Government Income Fund.
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Growth Balanced Fund
Stable Income Fund
Adjustable U.S. Government Reserve Fund
Arizona Tax-Free Income Fund
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3. Investment Company Act File Number: 811-4881
Securities Act File Number: 33-9645
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4. Last day of fiscal year for which this notice is filed:
May 31, 1996(4)
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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:
[ ]
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6. Date of termination of issuer's declaration under Rule 24f-2(a)(1), if
applicable (see Instruction A.6):
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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:
Zero (0) Shares
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8. Number and amount of securities registered during the fiscal year other
than pursuant to Rule 24f-2:
Shares Dollars
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Cash Investment Fund 172,423,821 $172,423,821
U.S. Government Fund 474,170,503 $474,170,503
Treasury Fund 129,317,844 $129,317,844
Ready Cash Investment Fund 530,208,247 $530,208,247
Municipal Money Market Fund 250,014,481 $250,014,481
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TOTAL 1,556,134,896 $1,556,134,896
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(4) By resolution adopted by the Board of Trustees of Norwest Advantage Funds
on April 27, 1996, the fiscal year end for the following funds was changed from
October 31, 1996 to May 31, 1996 and, accordingly, the fiscal period reflected
herein for these funds is November 1, 1995 through May 31, 1996: Small Company
Growth Fund, Large Company Growth Fund, Index Fund, Income Equity Fund,
International Fund, Growth Equity Fund, Diversified Equity Fund, Diversified
Bond Fund, Intermediate Government Fund, Conservative Balanced Fund, Moderate
Balanced Fund, Growth Balanced Fund, and Stable Income Fund.
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9. Number and aggregate sale price of securities sold during fiscal year:
Shares Dollars
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Cash Investment Fund 15,607,180,994 $15,607,180,994
U.S. Government Fund 8,707,095,355 $8,707,095,355
Treasury Fund 5,433,645,735 $5,433,645,735
Ready Cash Fund 3,411,642,550 $3,411,642,550
Municipal Money Market Fund 2,309,874,997 $2,309,874,997
Income Fund 20,609,580 $201,388,746
Total Return Bond Fund 5,747,967 $55,898,064
Tax-Free Income Fund 22,615,328 $225,749,173
Colorado Tax-Free Fund 1,422,274 $14,482,660
Minnesota Tax-Free Fund 2,017,067 $21,695,402
ValuGrowth Stock Fund 1,508,695 $31,070,433
Small Company Stock Fund 5,177,247 $61,996,210
Contrarian Stock Fund 1,691,330 $18,217,312
Small Company Growth Fund 2,810,689 $81,160,416
Large Company Growth Fund 498,044 $12,041,999
Index Fund 1,644,891 $48,667,390
Income Equity Fund 8,360,569 $229,144,058
Income Stock Fund 8,140,656 $104,931,481
International Fund 2,552,108 $47,761,283
Growth Equity Fund 6,637,642 $181,034,815
Diversified Equity Fund 6,929,313 $199,617,123
Diversified Bond Fund 1,441,842 $38,140,672
Intermediate Government Fund 38,982,723 $399,172,411
Government Income Fund 35,609,214 $315,064,836
Conservative Balanced Fund 1,880,846 $33,303,482
Moderate Balanced Fund 4,706,163 $92,435,873
Growth Balanced Fund 5,851,500 $128,023,842
Stable Income Fund 6,927,145 $72,148,530
Adjustable U.S. Government
Reserve Fund 497,214 $4,682,450
Arizona Tax-Free Fund 24,052 $237,354
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TOTAL 35,663,723,730 $38,087,505,646
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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:
Shares Dollars
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TOTAL 34,107,588,834 $36,531,370,750
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11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable (see
Instruction B.7):
Securities issued during the fiscal year in connection with dividend
reinvestment plans are included in the securities reported in Item 9.
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12. Calculation of registration fee:
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(i) Aggregate sale price of securities sold during the fiscal year in reliance on
Rule 24f-2 (from Item 10): $36,531,370,750
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(ii) Aggregate price of shares issued in connection with dividend reinvestment
plans (from Item 11, if applicable): + 0*
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(iii) Aggregate price of shares redeemed or repurchased during the fiscal year (if
applicable): - $ 34,739,259,555
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(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
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(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): $ 1,792,111,195
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(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
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(vii) Fee due [line (i) or line (v) multiplied by line (vi)]: $ 617,969.38
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* SHARES ISSUED IN CONNECTION WITH DIVIDEND REINVESTMENT PLANS ARE INCLUDED
IN THE SECURITIES REPORTED IN ITEM 9.
INSTRUCTION: 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.
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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 (17 CFR 202.3a).
[X]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
July 26 , 1996
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SIGNATURES
This report has been signed by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/Thomas G. Sheehan, Vice President
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Thomas G. Sheehan, Vice President
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Date July 26 , 1996
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* Please print the name and title of the signing officer below the signature.
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Securities and Exchange Commission
Washington, D.C. 20549
RULE 24F-2 NOTICE
NORWEST ADVANTAGE FUNDS
Two Portland Square
Portland, Maine 04101
File Nos. 33-9645; 811-4881
SIGNATURE
Pursuant to the requirements of Rule 24f-2 under the Investment Company Act
of 1940, Norwest Advantage Funds has duly caused this Rule 24f-2 Notice to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Portland, and State of Maine, on this 26th day of July, 1996.
Norwest Advantage Funds
By: /S/ John Y. Keffer
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John Y. Keffer
President
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[Logo]
Seward & Kissel, 1200 G Street, N.W., Washington, D.C. 20005
July 26, 1996
Norwest Advantage Funds
Two Portland Square
Portland, Maine 04101
Dear Sir or Madam:
We have acted as counsel for Norwest Advantage Funds, a Delaware business
trust (the "Trust"), in connection with the Trust's Rule 24f-2 Notice to be
filed pursuant to Rule 24f-2 (the "Rule") under the Investment Company Act of
1940, as amended, to report the sale of 34,107,588,834 shares of beneficial
interest of the Trust, consisting of 15,434,757,173 shares of Cash Investment
Fund, 8,232,924,852 shares of U.S. Government Fund, 5,304,327,891 shares of
Treasury Fund, 2,881,434,303 shares of Ready Cash Fund, 2,059,860,516 shares of
Municipal Money Market Fund, 20,609,580 shares of Income Fund, 5,747,967 shares
of Total Return Bond Fund, 22,615,328 shares of Tax-Free Income Fund, 1,422,274
shares of Colorado Tax-Free Fund, 2,017,067 shares of Minnesota Tax-Free Fund,
1,508,695 shares of ValuGrowth Stock Fund, 5,177,247 shares of Small Company
Stock Fund, 1,691,330 shares of Contrarian Stock Fund, 2,810,689 shares of
Small Company Growth Fund, 498,044 shares of Large Company Growth Fund,
1,644,891 shares of Index Fund, 8,360,569 shares of Income Equity Fund,
8,140,656 shares of Income Stock Fund, 2,552,108 shares of International
Fund, 6,637,642 shares of Growth Equity Fund, 6,929,313 shares of Diversified
Equity Fund, 1,441,842 shares of Diversified Bond Fund (formerly known as
Managed Fixed Income Fund), 38,982,723 shares of Intermediate Government Income
Fund (formerly known as Intermediate U.S. Government Fund), 35,609,214 shares
of Government Income Fund, 1,880,846 shares of Conservative Balanced Fund,
4,706,163 shares of Moderate Balanced Fund, 5,851,500 shares of Growth
Balanced Fund, 6,927,145 shares of Stable Income Fund, 497,214 shares of
Adjustable U.S. Government Reserve Fund, and 24,052 shares of Arizona Tax-Free
Income Fund during the Trust's fiscal year ended May 31, 1996 in reliance upon
the Rule pursuant to the indefinite registration of such shares under the
Securities Act of 1933, as amended.
As counsel for the Trust, we have examined and relied upon such records of
the Trust and other documents and certificates as to factual matters as we have
deemed to be necessary to render the opinion expressed herein.
Based on such examination, we are of the opinion that the 34,107,588,834
shares so sold in reliance upon the Rule were duly authorized and legally issued
and, upon their issuance, were fully paid and non-assessable shares of
beneficial interest of the Trust under the laws of the State of Delaware.
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Our opinion above stated is expressed as members of the bars of the
District of Columbia and the State of New York.
We hereby consent to the filing of this opinion with the Securities and Exchange
Commission as an exhibit to the Trust's Rule 24f-2 Notice.
Very truly yours,
/s/ Seward & Kissel
Seward & Kissel
