GLOBAL UTILITY FUND, INC.
November 20, 1995
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: 9/30/95.
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 (10/1/94): None.
3. The number of shares registered during the fiscal year
ended 9/30/95 other than pursuant to Rule 24f-2: None.
4. The number of shares sold* during the fiscal year ended
9/30/95: 1,953,923.
5. The number of shares sold during the fiscal year ended
9/30/95 in reliance upon Rule 24f-2: 1,953,923.
Pursuant to the requirements of Rule 24f-2, enclosed is the
required opinion of counsel.
*Calculation of Fee No. of Shares Dollar Amount
Shares sold 1,953,923 $ 26,212,634
Shares redeemed 8,497,425 114,585,336
Net of sales for calculation
of fee (6,543,502) ( 88,372,702)
Fee at 1/29 of 1% $ -0-
Very truly yours,
/s/ S. Jane Rose
Secretary
SJR/mm
Enclosure
KIRKPATRICK & LOCKHART LLP
1800 M Street, NW
South Lobby, Suite 900
Washington, DC 20036
Stephanie A. Djinis
(202) 778-9252
November 22, 1995
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, 1995.
We have, as counsel, participated in various corporate and other proceed-
ings 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, 1995, the
Company sold, in the aggregate, 1,953,923 shares, each at not less than the net
asset value on the date issued, and all for an aggregate sales price of
$26,212,634 and that during that year the Company redeemed 8,497,425 shares at
an aggregate redemption price of $114,585,336.
Based upon the foregoing, it is our opinion that the shares of the Company
sold during the fiscal year ended September 30, 1995, 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
common 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 LLP
By: /s/ Stephanie A. Djinis
Stephanie A. Djinis <PAGE>
