GLOBAL UTILITY FUND, INC.
November 22, 1994
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Rule 24f-2 Notice for Global Utility Fund, Inc.
Registration Statement on Form N-1A (File No. 33-37356)
Ladies and Gentlemen:
This Notice is filed on behalf of Global Utility Fund, Inc.,
pursuant to the requirements of Rule 24f-2 under the Investment
Company Act of 1940.
1. Fiscal year for which notice is filed: 9/30/94.
2. Number of shares registered under the Securities Act of
1933 other than pursuant to Rule 24f-2 but which remained unsold as
of the beginning of the fiscal year (10/1/93): None.
3. The number of shares registered during the fiscal year
ended 9/30/94 other than pursuant to Rule 24f-2: None.
4. The number of shares sold* during the fiscal year ended
9/30/94: 14,861,487.
5. The number of shares sold during the fiscal year ended
9/30/94 in reliance upon Rule 24f-2: 14,861,487.
Pursuant to the requirements of Rule 24f-2, enclosed is the
required opinion of counsel. I have previously forwarded the
amount of $35,373.96 to the Securities and Exchange Commission in
payment of the fee as calculated below.
*Calculation of Fee No. of Shares Dollar Amount
Shares sold 14,861,487 $214,281,795
Shares redeemed (7,991,409) (111,698,024)
Net of sales for calculation
of fee 6,870,078 102,583,771
Fee at 1/29 of 1% $ 35,373.96
Very truly yours,
/s/ S. Jane Rose
S. Jane Rose
Secretary
SJR/rb
Enclosure
Kirkpatrick & Lockhart
1800 M Street, N.W.
Washington, D.C. 20036-5891
November 21, 1994
Global Utility Fund, Inc.
One Seaport Plaza
New York, New York 10292
Dear Sir or Madam:
Global Utility Fund, Inc. (the "Company") is a corporation
organized under the laws of the State of Maryland. We understand
that the Company is about to file a Rule 24f-2 Notice pursuant to
Rule 24f-2 under the Investment Company Act of 1940, as amended,
for the purpose of making definite the number of shares which it
has registered under the Securities Act of 1933, as amended, and
which were sold during the fiscal year ended September 30, 1994.
We have, as counsel, participated in various corporate and
other proceedings relating to the Company. We have examined
copies, either certified or otherwise proved to be genuine, of its
Articles of Incorporation and By-Laws, as now in effect, the
minutes of meetings of the Board of Directors and other documents
relating to the organization and operation of the Company, and we
are generally familiar with its corporate affairs. The Company is
authorized to issue 2,000,000,000 shares of common stock, par value
$0.001 per share. You have advised us that during its fiscal year
ended September 30, 1994, the Company sold 14,861,487 shares, each
at not less than the net asset value on the date issued, and all
for an aggregate sales price of $214,281,795 and that during that
year the Company redeemed 7,991,409 shares at an aggregate
redemption price of $111,698,024.
Based upon the foregoing, it is our opinion that the shares of
the Company sold during the fiscal year ended September 30, 1994,
the registration of which will be made definite by the filing of
the Rule 24f-2 Notice, were legally issued, fully paid and non-
assessable. We express no opinion as to compliance with the
Securities Act of 1933, the Investment Company Act of 1940, or
applicable state securities laws in connection with the sales of
shares of capital stock.
We hereby consent to this opinion accompanying the Rule 24f-2
Notice which you are about to file with the Securities and Exchange
Commission. We also consent to the reference to our firm as
counsel to the Company in the Company's Statement of Additional
Information incorporated by reference into the Prospectus of the
Company, filed as part of the registration statement.
Sincerely,
KIRKPATRICK & LOCKHART
By: /s/Arthur J. Brown
Arthur J. Brown
