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:
William Blair Mutual Funds, Inc.
222 West Adams Street
Chicago, IL 60606
2. Name of each series or class of funds for which this notice is
filed:
William Blair Mutual Funds, Inc.
Growth Fund
Ready Reserves Fund
Income Fund
International Growth Fund
Limited Term Tax-Free Fund
Value Discovery Fund
3. Investment Company Act File Number:
Securities Act File Number: 33 - 17463
4. Last day of fiscal year for which this notice is filed: 12/31/96
5. Check box if this notice is being filed more then 180 days after the close of
of the issuer's fiscal year for purposes of reposting securities sold after
the close of the fiscal year but before termination of the issuer's 24f-2
declaration:
[ ]
6. Date of termination 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
year:
-0- Growth Fund; -0- Ready Reserves Fund; 2,502,698 shares Income Fund;
-0- International Growth Fund and -0- Value Discovery Fund
8. Number of securities registered during the fiscal year other than pursuant
to rule 24f-2:
-0- Growth Fund; -0- Ready Reserves Fund; -0- shares Income Fund;
-0- International Growth Fund, -0- Limited Term Tax-Free Fund and
-0- Value Discovery Fund
9. Number and aggregate sale price of securities sold during the fiscal year:
<TABLE>
<CAPTION>
<C> <C>
<S> Shares Amount
Growth Fund 12,563,198 165,768,544
Ready Reserves Fund 2,994,213,221 2,994,213,221
Income Fund 2,771,074 28,856,251
International Growth Fund 2,196,110 29,640,055
Limited Term Tax-Free Fund 12,531 125,210
Value Discovery Fund 217,517 2,175,167
3,014,744,724 3,197,529,600
</TABLE>
10. Number and aggregate sale price of securities sold during the fiscal year in
reliance upon registration pursuant to rule 24f-2:
<TABLE>
<CAPTION>
<C> <C>
<S> Shares Amount
Growth Fund 12,563,198 165,768,544
Ready Reserves Fund 2,994,213,221 2,994,231,221
Income Fund 268,376 2,794,702
International Growth Fund 2,196,110 29,640,055
Limited Term Tax-Free Fund 12,531 125,210
Value Discovery Fund 217,517 2,175,167
3,014,744,724 3,197,529,600
</TABLE>
11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable:
<TABLE>
<CAPTION>
<C> <C>
<S> Shares Amount
Growth Fund 1,351,091 18,034,950
Ready Reserves Fund 33,371,179 33,371,179
Income Fund 630,316 6,494,706
International Growth Fund 252,867 3,461,293
Limited Term Tax - Free Fund 9,329 92,752
35,614,783 61,454,881
</TABLE
12. Calculation of registration fee.
</TABLE>
<TABLE>
<C>
William Blair
<S> Mutual Funds
(i) Aggregate sale price of securities sold during
the fiscal year in reliance on rule 24f-2: 3,197,529,600
(ii) Agrregate price of shares issued in connection
with dividend reinvestment plans: 61,454,881
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable): 3,120,955,797
(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a reduction to filing
fees pursuant to rule 24e-2: 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): 135,233,982
(vi) Multiplier prescribed by Section 6 (b) of the
Securities Act of 1983 or other applicable law
or regulation (see Instruction C.6): 1%/33
(vii) Fee due [line (i) or line (v) multiplied
by line (vi)]: 44,042.55
</TABLE>
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: February 26, 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) Terence M. Sullivan Vice - President
Date: February 26, 1997
