SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, DC 20549
RULE 24f-2 NOTICE
for
CFS INVESTMENT TRUST
1111 East Warrenville Road
Naperville, IL 60563-1448
For the 11 Months Ended March 31, 1995*
___________________________________________
Shares Sold
During Period Pursuant
Series of the Registrant to Rule 24f-2
Calamos Strategic Income Fund 24,288
Calamos Convertible Fund 166,128
Calamos Growth and Income Fund 46,434
Calamos Growth Fund 14,507
All shares were sold in reliance upon Rule 24f-2 under the Investment Company
Act of 1940. No shares of beneficial interest of any series of the Registrant
registered under the Securities Act of 1933 (other than pursuant to Rule
24f-2) remained unsold at the beginnning of the fiscal year or were registered
during the fiscal year pursuant to Rule 24e-2.
An opinion of Bell, Boyd & Lloyd is being filed with this Rule 24f-2 Notice.
* During this period, Registrant changed its fiscal year end from April 30 to
March 31.
______________________________________________________________________________
Calculation of fee:
Less
Aggregate Aggregate
Series Sales Redemptions Net Sales
Calamos Strategic Income Fund $ 251,820 $ 892,695 $ (640,875)
Calamos Convertible Fund 2,036,726 1,632,456 404,270
Calamos Growth and Income Fund 577,967 1,262,105 (684,138)
Calamos Growth Fund 206,849 443,348 (236,499)
Registrant's total net sales price for computing fee $(1,157,242)
Filing fee (.00034483) $ 0
______________________________________________________________________________
Signature
Pursuant to the requirements of the Investment Company Act of 1940, the
undersigned registrant has caused this report to be signed on its behalf in
the City of Naperville and State of Illinois on the 12th day of May, 1995.
CFS INVESTMENT TRUST
By:_______________________________
Paul Marnell, Vice President
Page 1 of 2 Pages (including legal opinion)
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BELL, BOYD & LLOYD
THREE FIRST NATIONAL PLAZA
70 WEST MADISON STREET, SUITE 3300
CHICAGO, ILLINOIS 60602-4207
312 372-1121
FAX 312 372-2098
CAMERON S. AVERY
DIRECT DIAL: 312 807-4302
May 19, 1995
CFS Investment Trust
1111 East Warrenville Road
Naperville, Illinois 60563-1448
Ladies and Gentlemen:
Rule 24f-2 Notice
We have represented CFS Investment Trust, a Massachusetts business trust (the
"Trust"), in connection with the filing with the Securities and Exchange
Commission of the Trust's Rule 24f-2 Notice for the eleven months ended March
31, 1995 pursuant to Rule 24f-2 under the Investment Company Act of 1940
("Rule 24f-2"). In this connection, we have examined originals, or copies
certified or otherwise identified to our satisfaction, of such documents or
other records, certificates, and other papers as we deem it necessary to
examine for the purpose of this opinion, including the agreement and
declaration of trust and bylaws of the Fund and resolutions of the board of
trustees authorizing the issuance of shares.
Based upon the foregoing examination, we are of the opinion that the following
shares of beneficial interest, without par value, of the Trust sold during the
1995 fiscal period in reliance upon registration pursuant to rule 24f-2 were
legally issued, fully paid and nonassessable (although shareholders of the
Trust may be subject to liability under certain circumstances as described in
the prospectus of the Trust included in its registration statement on Form
N-1A):
Shares Sold During
Period Pursuant
Series of the Registrant to Rule 24f-2
Calamos Strategic Income Fund 24,288
Calamos Convertible Fund 166,128
Calamos Growth and Income Fund 46,434
Calamos Growth Fund 14,507
We consent to the filing of this opinion with the Trust's Rule 24f-2 Notice.
In giving this consent, we do not admit that we are in the category of persons
whose consent is required under Section 7 of the Securities Act of 1933.
Very truly yours,
30466D1.DOC
