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:
Saturna Investment Trust
1300 North State Street
Bellingham, Washington 98225
2. Name of each series or class of funds for which this notice of
filed:
Sextant Growth Fund
Idaho Tax Exempt Fund
Sextant Bond Income Fund
Sextant Short Term Bond Fund
Sextant International Fund
3. Investment Company Act File Number: 811-5071
Securities Act File Number: 33-13247
4. Last day of fiscal year for which this notice is filed: November 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):
N/A
7. Number and amount of securities of the same class or series which
had been registered under the Securities Exchange 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:
DOLLARS SHARES
Sexton Growth Fund $ 676,224.00 90,055
Idaho Tax Exempt Fund 837,937.00 162,231
Setant Bond Income Fund 303,624.00 65,268
Sextant Short Term Bond Fund 3,700,165.00 740,752
Sextant International Fund 440,062.00 83,056
-------------- ----------
TOTAL $ 5,958,012.00 1,141,362
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
DOLLARS SHARES
Sexton Growth Fund $ 676,224.00 90,055
Idaho Tax Exempt Fund 837,937.00 162,231
Setant Bond Income Fund 303,624.00 65,268
Sextant Short Term Bond Fund 3,700,165.00 740,752
Sextant International Fund 440,062.00 83,056
-------------- ----------
TOTAL $ 5,958,012.00 1,141,362
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):
DOLLARS SHARES
Sextant Growth Fund $ 0.00 0
Idaho Tax Exempt Fund 191,502.00 36,855
Sextant Bond Income Fund 77,813.00 16,726
Sextant Short Term Bond Fund 129,365.00 26,037
Sextant International Fund 3,068.00 523
-------------- ----------
TOTAL $ 401,748.00 80,141
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal year
on rule 24f-2 (from Item 10): $ 5,958,012
--------------------
(ii) Aggregate price of shares issued in connection with dividend
reinvestment plans (from Item 11, if applicable):
+ 401,748
--------------------
(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable):
- 4,532,057
--------------------
(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):
+ 1,827,703
--------------------
(vi) Multiplier prescribed by Section 6(b) of the Securities Act of
1933 or other applicable law or regulation (see Instruction
C.6):
x 1/3300
--------------------
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]:
$ 553.85
--------------------
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:
January 14, 1996
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/ Teresa K. Anderson
-------------------------------
Teresa K. Anderson, CMA
Director, Funds & Operations
Date: January 21, 1997
January 21, 1997
Saturna Investment Trust
Holly Plaza
1300 North State Street
Bellington, Washington 98225-4730
RE: Rule 24f-2 Notice Filing
Gentlemen:
In accordance with the registration of an indefinite number of
units ("Units") registered by Saturna Investment Trust (the "Fund"), we
have been asked to provide the opinion of counsel required to be filed
by the Fund pursuant tot Rule 24f-2(b)(1)(v), to accompany the notice on
Form 24f-2 (the "Notice") required to be filed by the Fund pursuant to
Rule 24f-2, promulgated pursuant to Section 24(f) of the Investment
Company Act of 1940, as amended. In rendering this opinion, we have
examined such documents (including the audited financial statements of
the Fund as of November 30, 1996), records and questions of law as we
deemed it necessary to examine for the purpose of this opinion. Based
on the examination and investigation, it is our opinion that the Units
which are the subject of the Notice have been validly issued, fully paid
and are not liable to further assessments.
Very truly yours,
SOMMER & BARNARD, PC
cc: Ms. Teresa K. Anderson
