U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
Please print or type.
1. Name and address of issuer: Global Utility Fund, Inc., Gateway Center
Three, Newark, New Jersey 07102.
2. Name of each series or class of funds for which this notice is filed:
Class A, Class B and Class C Shares
3. Investment Company Act File Number: 811-5695.
Securities Act File Number: 33-37356.
4. Last day of fiscal year for which this notice is filed: September 30,
1996.
5. Check box if this 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 (see instruction A.6):
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/$0
8. Number and amount of securities registered during the fiscal year
other than pursuant to rule 24f-2: 5,712,802/$88,662,702.
9. Number and aggregate sale price of securities sold during the fiscal
year: 1,914,749/$28,371,678.
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
1,914,749/$28,371,678.
11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable (see
instruction B.7):
1,060,635/$15,648,910.
12. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year in
reliance on rule 24f-2 (from item 10):
$28,371,678
(ii) Aggregate price of shares issued in
connection with dividend reinvestment + 15,648,910
plans (from item 11, if applicable):
(iii) Aggregate price of shares redeemed or
repurchased during the fiscal year
(if applicable):
(102,463,920)
(iv) Aggregate price of shares redeemed or
repurchased and previously applied
as a reduction to filing fees
pursuant to rule 24e-2
(if applicable):
- -0-
(v) Net aggregate price of securities
sold and issued during the fiscal
year in reliance of rule 24f-2
[line (i), plus line (ii), less line
(iii), plus line (iv)]
(if applicable): ( 58,443,332)
(vi) Multiplier prescribed by section
6(b) of the Securities Act of 1933
or other applicable law or regulation
(see instruction C.6): X
1/3300
(vii) Fee due [line (i) or line (v)
multiplied by line (vi)]: $
- -0-
Instructions: Issuers should complete lines (ii), (iii), (iv) and (v) only if
the form is being filed within 60 days after the close of the issuer's
fiscal year. See Instruction C.3.
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 (17 CFR 202.3a). [ ]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox
depository:
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.
/s/ S. Jane Rose
By S. Jane Rose, Secretary
Date: November 27, 1996
November 27, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Global Utility Fund, Inc.
File Nos. 811-5695 and 33-37356
Ladies and Gentlemen:
On behalf of Global Utility Fund, Inc., enclosed for filing under the
Investment Company Act of 1940 are:
(l) One copy of the Rule 24f-2 Notice; and
(2) Opinion of counsel
If you have any questions relating to the foregoing, please call the
undersigned at (212) 214-2189.
Very truly yours,
/s/ Robert A. Nisi
Robert A. Nisi
Assistant Secretary
RAN/RN
Enclosures
Global Utility Fund, Inc.
November 26, 1996
Page 2
November 26, 1996
Global Utility Fund, Inc.
Gateway Center Three
100 Mulberry St.
Newark, NJ 07102-4077
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, 1996.
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, 1996, the
Company sold 2,975,384 shares, each at not less than the net asset value on the
date issued, and all for an aggregate sales price of $44,020,588 and that during
that year the Company redeemed 6,873,628 shares at an aggregate redemption price
of $102,436,920.
Based upon the foregoing, it is our opinion that the shares of the Company
sold during the fiscal year ended September 30, 1996, 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: _____________________
Stephanie A. Djinis
GLOBAL UTILITY FUND, INC.
TREASURER'S CERTIFICATE
The undersigned, Treasurer of Global Utility Fund, Inc., a Maryland
corporation (the "Fund"), does hereby certify as follows:
1. For the fiscal year ended September 30, 1996, the Fund
issued 1,914,749 shares of Common Stock, $.001 par value
consisting of 1,268,505 Class A shares, 630,433 Class B
shares and 15,811 Class C shares.
2. In respect of the issuance of such 1,914,749 shares
consisting of 1,268,505 Class A shares, 630,433 Class B
shares and 15,811 Class C shares, the Fund received cash
consideration of $28,371,678 consisting of $18,854,071 for
Class A shares, $9,281,195 for Class B shares and $236,412
for Class C shares.
3. In addition to the foregoing, for the fiscal year ended
September 30, 1996, the Fund issued 1,060,635 shares of
common stock, $.001 par value, representing reinvested
dividends, consisting of 339,649 Class A shares, 718,862
Class B shares and 2,124 Class C shares. In respect of such
issuance, the Fund received cash consideration of
$15,648,910 (consisting of $5,017,345 for Class A shares,
$10,600,234 for Class B shares and $31,331 for Class C
shares.
4. With respect to each share issued, the Fund received cash
consideration not less than the net asset value per share on
the date issued and not less than $.001.
5. At no time during the fiscal year were there issued and
outstanding more shares of the Fund's Common Stock than
authorized by the Articles of Incorporation.
6. To the best of my knowledge and belief, the Fund is in good
standing in the State of Maryland.
In Witness Whereof, I have hereunto signed my name as Treasurer of the
Fund.
Date: November 27, 1996
(SEAL)
Grace Torres
