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APPENDIX 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
OMB APPROVAL
OMB Number: 3235-0456
Expires: August 31, 2000
Estimated average burden
hours per response . . . . . . . 1
1. Name and address of issuer:
First American Investment Funds, Inc.
One Freedom Valley Drive
Oaks, PA 19456
2. The name of each series or class of securities for which this notice
is filed (if the form is being filed for all series and classes of
securities of the issuer, check the box but do not list series
or classes): [ ]
Small Cap Value Fund
International Index Fund
On November 21, 1997, the First American Investment Small
Cap Value Fund and International Index Fund became the successor by
merger to the Small Companies Value Fund and International
Opportunities Fund, respectively, both of which were portfolios of
the Qualivest Funds.
3. Investment Company Act File Number: 811-5309
Securities Act File Number: 33-16905
4(a). Last day of fiscal year for which this Form is filed:
November 30, 1997
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4(b). Check box if this Form is being filed late (i.e., more than
90 calendar days after the end of the issuer's fiscal year).
(See Instruction A-2)
[ ]
Note: If the Form is being filed late, interest must be paid on the
registration fee due.
4( c). Check box if this is the last time the issuer will be filing
this Form.
[ ]
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year pursuant to section 24(f): $ 688,789,050.20
(ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: $ 46,635,559.35
(iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to
reduce registration fees payable to the commission:
$ 0
(iv) Total available redemption credits
[add Items 5(ii) and 5(iii)]: $ 0
(v) Net Sales - if Item 5(i) is greater than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)] $642,153,490.85
(vi) Redemption credits available for use in future years
__if Item 5(i) is less than Item 5 (iv) [subtract Item
5(iv) from Item 5(i)]: 0
(vii) Multiplier for determining registration fee
(See Instruction C.9): x .000295
(viii) Registration fee due [multiply item 5(v) by
Item 5(vii)] (enter "0" if no fee is due):
+ $ 189,435.28
6. If the response to Item 5(i) was determined by deducting an
amount of securities that were registered under the Securities
Act of 1933 pursuant to rule 24e-2 as in effect before
October 11, 1997, then report the amount of securities
(number of shares or other units) deducted here: _____0_____.
If there is a number of shares or other units that were registered
pursuant to rule 24e-2 remaining unsold at the end of the fiscal
year for which this form is filed that are available for use by the
issuer in future fiscal years, then state that number here: __0___.
7. Interest due - if this Form is being filed more than 90 days after
the end of the issuer's fiscal year (see instruction D):
+ $_________
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8. Total of the amount of the registration fee due plus any interest
due [line 5(viii) plus line 7]:
= $ 189,435.28
9. Date the registration fee and any interest payment was sent to
the Commission's lockbox depository:
Method of Delivery:
[ x ] Wire Transfer
[ ] Mail or other means
SIGNATURES
This report has been signed below by the following person on
behalf of the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/Michael Beattie Controller
Michael Beattie, Controller and Chief Financial Officer
Date: February 26, 1998
