U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 204549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer:
SG Cowen Funds, Inc.
560 Lexington Avenue
New York, NY 10022
2. Name of each series or class of funds for which this Form 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):[ x]
3. Investment Company Act File Number: 811-5388
Securities Act File Number: 33-18505
4(a). Last day of fiscal year for which this notice is filed:
November 30, 1999
4(b). [ ] Check box if this Form is being filed late (i.e.,more than 90
days after the end of the issuer's fiscal year). (See Instruction
A.2)
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 rule 24(f):
$ 5,836,210
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year:
$ 34,332,793
(iii) Aggregate price of securities redeemed or
repurchased during any prior fiscal year
ending no earlier than October 11, 1995
that were not proviously used to reduce
registration fees payable to the Commission:
$ 0.00
(iv) Total available redemption credits [add
Items 5(ii) and 5(iii)]:
$ 34,332,793
(v) Net sales-- if Item 5(i) is greater than
Item 5(iv) [subtract Item 5(iv) from
Item 5(i)]:
$ 0
____________________________________________________________________
|(vi) Redemption credits available for use in future |
| years-- if Item 5(i) is less than Item 5(iv) |
| Subtract Item 5(iv) form Item 5(i): |
| |
| $(28,504,878 ) |
|____________________________________________________________________|
(vii) Mutliplier for determining registration fee
(See instruction C.9):
x 1/36 of 1%
(viii) Registration fee due [multiply Item 5(v) by
Item 5(vii)] (enter "0" if no fee is due):
= $ 0
_________________
6. Prepaid Shares
If the repsonse to Item 5(i) was determined by deducting an amount of
securities that were registered under the Secuties Act of 1933
pursuant to rule 24e-2 as in effect before [effective date of
rescisision of rule 24e-2], then report the amount of securities
(number of shares or other units) deducted here: NONE . 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: NONE .
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):
+ $ 0.00
8. Total of the amount of the registration fee due plus any interest due
[line 5(viii) plus line 7]:
= $ 0.00
_________________
9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository:
Method of Delivery:
[na ] Wire Transfer
[na ] Mail or Other Means
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/ Philip Bafundo
Philip Bafundo, Treasurer
Date: January 13, 2000
*Please print the name and title of the signing officer below the
signature.
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Rule 24f-2 Notice
SG Cowen Funds, Inc.
Securities Act File No. 033-18505
Investment Company Act File No.811-5388
Gentlemen:
You have requested that as counsel to SG Cowen Funds, Inc. ("the Fund")
I render an opinion in connection with the filing by the fund of a notice
required by Rule 24F-2 under the Investment Company Act of 1940 (the
"Notice") for the Fund's fiscal year ended November 30, 1999. Paragraph
4 of the Notice states that, during the fisal year ended November 30, 1999
the Fund had net sales of $5,827,915 worth of its shares of common stock,
$.001 par value per share (the "Shares"). The Notice also states that
that the aggregate public offering price of shares sold was $5,827,915
(including $445,310 worth of shares issued upon automatic
reinvestment of dividends), and a aggregage of $34,332,793 worth of
shares were redeemed during the fiscal year. As stated in paragraph
5 of the Notice, all of the shares were sold in reliance upon registration
under the Securities Act of 1933 pursuant to Rule 24f-2 under the
Investment Company Act of 1940.
I have examined the Fund's Articles of Incorporation, its By-Laws,
Resolutions adopted by its Board of Directors, and other records
and documents that I have deemed necessary for the purpose of this
opinion. I have also examined other certain other documents, papers,
statutes and authorities that I have deemed necessary to form an
opinion hereinafter expressed.
On the basis of the foregoing, and assuming all of the shares were sold
in accordance with the terms of the Fund's prospectus in effect at
the time of sale, I am of the opinion that the shares were legally
issued, fully paid and non-assessable by the Fund.
Very truly yours,
/s/ Rodd M. Baxter
Rodd M. Baxter
SG Cowen Asset Management
1221 Avenue of the Americas
8th Floor - Legal
New York, New York 10020
