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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24F-2
1. NAME AND ADDRESS OF ISSUER:
Northstar High Yield Fund
Two Pickwick Plaza
Greenwich, Connecticut 06830
2. NAME OF EACH SERIES OR CLASS OF FUNDS FOR WHICH THIS NOTICE IS FILED:
Northstar High Yield Fund - Class A, Class B, Class C and Class T
shares.
3. INVESTMENT COMPANY ACT FILE NUMBER: 811-5496
SECURITIES ACT FILE NUMBER: 33-20506
4. LAST DAY OF FISCAL YEAR FOR WHICH THIS NOTICE IS FILED:
December 31, 1996
5. CHECK BOX IF 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:
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 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:
8,401,720 $73,147,596
10. NUMBER AND AGGREGATE SALE PRICE OF SECURITIES SOLD DURING THE FISCAL YEAR
IN RELIANCE UPON REGISTRATION PURSUANT TO RULE 24F-2:
8,401,720 $73,147,596
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11. NUMBER AND AGGREGATE SALE PRICE OF SECURITIES ISSUED DURING THE
FISCAL YEAR IN CONNECTION WITH DIVIDEND REINVESTMENT PLANS, IF
APPLICABLE:
981,745 $8,526,557
12. CALCULATION OF REGISTRATION FEE:
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<S> <C>
(I) AGGREGATE SALE PRICE OF SECURITIES SOLD
DURING THE FISCAL YEAR IN RELIANCE ON
RULE 24F-2 (FROM ITEM 10): $73,147,596
(II) AGGREGATE PRICE OF SHARES ISSUED IN
CONNECTION WITH DIVIDEND REINVESTMENT
PLANS (FROM ITEM 11): + 8,526,557
(III) AGGREGATE PRICE OF SHARES REDEEMED OR
REPURCHASED DURING THE FISCAL YEAR: - 39,383,908
(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 (III),
LESS LINE (III), PLUS LINE (IV)]: 42,290,245
(VI) MULTIPLIER PRESCRIBED BY SECTION 6(B)
OF THE SECURITIES ACT OF 1933 OR OTHER
APPLICABLE LAW OR REGULATION: x .00030303
(VII) FEE DUE [LINE (I) OR LINE (V) MULTIPLIED
BY LINE (VII)]: $12,815.23
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.
[ X ]
DATE OF MAILING OR WIRE TRANSFER OF FILING FEES TO THE
COMMISSION'S LOCKBOX DEPOSITORY: FEBRUARY 13, 1997
SIGNATURES
THIS REPORT HAS BEEN SIGNED BELOW BY THE FOLLOWING PERSON ON BEHALF OF THE
ISSUER AND IN THE CAPACITY AND ON THE DATE INDICATED.
By: /S/ Stephanie L. Beckner Date: February 14, 1997
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Signature
Stephanie L. Beckner, Assistant Secretary
Name and Title
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NORTHSTAR INVESTMENT MANAGEMENT CORPORATION
TWO PICKWICK PLAZA
GREENWICH, CT 06830
February 14, 1997
Northstar High Yield Fund
Two Pickwick Plaza
Greenwich, Connecticut 06830
Gentlemen:
I am furnishing the following opinion in connection with the filing of a notice
(the "Notice") under Rule 24f-2 for the Northstar High Yield Fund (the "Fund").
This opinion is being furnished in my capacity as counsel for Northstar
Investment Management Corporation and Northstar Administrators, investment
adviser and administrator, respectively, for the Fund.
I have reviewed the Declaration of Trust of the Trust, a Massachusetts business
trust, and such other documents and such questions of law as I have deemed
necessary or advisable.
On the basis of such review, it is my opinion that when the shares of beneficial
interest of the Fund referred to in the Notice were sold during the period
commencing January 1, 1996 and ending December 31, 1996, in reliance upon
registration pursuant to Rule 24f-2 and in accordance with the currently
effective prospectus of the Fund, such shares were legally issued, fully paid
and nonassessable.
Sincerely,
/s/ STEPHANIE L. BECKNER
Stephanie L. Beckner
Counsel
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