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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,026,842
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,607,888
<AVERAGE-NET-ASSETS> 189,990,000
<PER-SHARE-NAV-BEGIN> 15.03
<PER-SHARE-NII> 1.51
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.03)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.51
<EXPENSE-RATIO> 1.99
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000843091
<NAME> GLOBAL UTILITY FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> GLOBAL UTILITY FUND (CLASS C)
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 236,380,040
<INVESTMENTS-AT-VALUE> 293,709,289
<RECEIVABLES> 3,632,576
<ASSETS-OTHER> 91,997
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 998,489
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,331,166
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 227,694,850
<SHARES-COMMON-STOCK> 19,029,423
<SHARES-COMMON-PRIOR> 20,027,778
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (235,648)
<ACCUMULATED-NET-GAINS> 10,320,494
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 57,324,511
<NET-ASSETS> (39,057,201)
<DIVIDEND-INCOME> 3,384,046
<INTEREST-INCOME> 2,675,428
<OTHER-INCOME> 0
<EXPENSES-NET> 2,607,888
<NET-INVESTMENT-INCOME> 3,451,586
<REALIZED-GAINS-CURRENT> 11,050,934
<APPREC-INCREASE-CURRENT> 15,867,269
<NET-CHANGE-FROM-OPS> 30,369,789
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (15,813,440)
<DISTRIBUTIONS-OTHER> (4,177,650)
<NUMBER-OF-SHARES-SOLD> 29,069,071
<NUMBER-OF-SHARES-REDEEMED> (61,785,084)
<SHARES-REINVESTED> 16,423,378
<NET-CHANGE-IN-ASSETS> (5,913,936)
<ACCUMULATED-NII-PRIOR> 347,667
<ACCUMULATED-GAINS-PRIOR> 15,225,749
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,026,842
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,607,888
<AVERAGE-NET-ASSETS> 709,000
<PER-SHARE-NAV-BEGIN> 15.03
<PER-SHARE-NII> 1.51
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.03)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.51
<EXPENSE-RATIO> 1.99
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000843091
<NAME> GLOBAL UTILITY FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> GLOBAL UTILITY FUND (CLASS Z)
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 236,380,040
<INVESTMENTS-AT-VALUE> 293,709,289
<RECEIVABLES> 3,632,576
<ASSETS-OTHER> 91,997
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 998,489
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,331,166
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 227,694,850
<SHARES-COMMON-STOCK> 19,029,423
<SHARES-COMMON-PRIOR> 20,027,778
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (235,648)
<ACCUMULATED-NET-GAINS> 10,320,494
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 57,324,511
<NET-ASSETS> (39,057,201)
<DIVIDEND-INCOME> 3,384,046
<INTEREST-INCOME> 2,675,428
<OTHER-INCOME> 0
<EXPENSES-NET> 2,607,888
<NET-INVESTMENT-INCOME> 3,451,586
<REALIZED-GAINS-CURRENT> 11,050,934
<APPREC-INCREASE-CURRENT> 15,867,269
<NET-CHANGE-FROM-OPS> 30,369,789
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (15,813,440)
<DISTRIBUTIONS-OTHER> (4,177,650)
<NUMBER-OF-SHARES-SOLD> 29,069,071
<NUMBER-OF-SHARES-REDEEMED> (61,785,084)
<SHARES-REINVESTED> 16,423,378
<NET-CHANGE-IN-ASSETS> (5,913,936)
<ACCUMULATED-NII-PRIOR> 347,667
<ACCUMULATED-GAINS-PRIOR> 15,225,749
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NII> 0.65
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.14)
<RETURNS-OF-CAPITAL> 0.00
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E:\OSUNKWO\FUNDS\GUF\NSAR-77C.597
For the semi-annual period ended (a) 3/31/97
File number (c) 811-5695
SUB-ITEM 77C
Submission of Matters to a Vote of Security Holders
The Annual Meeting of Shareholders was held on October 30,
1996. At such meeting the shareholders approved the following
proposals:
1) That Eugene C. Dorsey, Douglas H. McCorkindale, Thomas
T. Mooney and Richard A. Redeker are duly elected to
serve as Directors of the Fund until the earlier to
occur of (i) the next meeting of Shareholders at which
Directors are elected and until his or her successor
shall have been duly elected and shall have qualified
or (ii) their terms expire in accordance with the
Fund's retirement policy.
Affirmative Negative
Withhold/
Votes Cast Votes Cast
Abstain
Eugene C. Dorsey 9,945,953 0
76,359
Douglas H. McCorkindale 9,958,617 0
76,359
Thomas T. Mooney 9,957,011 0
78,473
Richard A. Redeker 9,957,048 0
76,996
2.) To ratify the selection of Deloitte & Touche LLP as the
Fund's independent accountants for the fiscal year
ended September 30, 1996.
Affirmative Negative
Votes Cast Votes
Cast
9,842,157 115,930
For the semi-annual period ended (a) 3/31/97
File number (c) 811-5695
SUB-ITEM 77J
Reclassification of Capital Accounts
The Fund accounts for and reports distributions to
shareholders in accordance with American Institute of Certified
Public Accountants (AICPA) Statement of Position 93-2:
Determination, Disclosure, and Financial Statement Presentation
of Income, Capital Gain, and Return of Capital Distributions by
Investment Companies. The effect of applying this statement was
to increase undistributed net investment income and decrease
accumulated net realized gains on investments by $142,749
relating to net realized foreign currency gains. Net investment
income, net realized gains and net assets were not affected by
this change.
April 16, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
RE: Funds managed or administered by Prudential Mutual Fund
Management LLC (the "Funds")
Gentlemen:
At meetings held between February 18 and 20, 1997, the Board
of Directors of the Funds (see attached exhibit) approved
the engagement of Price Waterhouse LLP as their independent
auditors for their fiscal years ending after February 28,
1997 to replace the firm of Deloitte & Touche LLP effective
March 1, 1997.
The reports of Deloitte & Touche LLP on the Funds' financial
statements for the past two fiscal years did not contain an
adverse opinion or a disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope, or
accounting principles.
In connection with the audits of the Funds' financial
statements for each of the prior two fiscal years and in the
subsequent interim period, there were no disagreements with
Deloitte & Touche LLP on any matters of accounting
principles or practices, financial statement disclosure, or
auditing scope and procedures which, if not resolved to the
satisfaction of Deloitte & Touche LLP, would have caused
Deloitte & Touche LLP to make reference to the matter in
their report.
The Funds have requested Deloitte & Touche LLP to furnish
them a letter addressed to the Commission stating whether
they agree with the above statements. A copy of that
letter, dated April 16, 1997 is attached hereto.
Sincerely,
Eugene S. Stark Grace Torres
Treasurer Treasurer
ESS/rr
\Gen-SECLtrPW-4-15-97.doc
Exhibit
Board of Next
Fund Director Fiscal Treasurer
Meeting
Date Year
End
The BlackRock Government 2/18/97 6/30/97 Eugene S.
Income Trust Stark
Global Utility Fund, Inc. 2/18/97 9/30/97 Grace
Torres
Prudential Allocation Fund 2/19/97 7/31/97 Grace
Torres
Prudential California 2/20/97 8/31/97 Eugene S.
Municipal Fund Stark
Prudential Distressed 2/19/97 11/30/9 Grace
Securities Fund, Inc. 7 Torres
Prudential Diversified 2/20/97 12/31/9 Eugene S.
Bond Fund, Inc. 7 Stark
Prudential Dryden Fund 2/19/97 9/30/97 Eugene S.
Stark
Prudential Equity Income 2/19/97 10/31/9 Grace
Fund 7 Torres
Prudential Europe Growth 2/21/97 4/30/97 Grace
Fund, Inc. Torres
Prudential Global Limited 2/19/97 10/31/9 Grace
Maturity Fund, Inc. 7 Torres
Prudential Government 2/20/97 2/28/98 Eugene S.
Income Fund, Inc. Stark
Prudential Institutional 2/21/97 3/31/97 Eugene S.
Liquidity Portfolio, Inc. Stark
Prudential Jennison Series 2/19/97 9/30/97 Eugene S.
Fund, Inc. Stark
Prudential MoneyMart 2/21/97 12/31/9 Grace
Assets, Inc. 7 Torres
Prudential Multi-Sector 2/19/97 4/30/97 Grace
Fund, Inc. Torres
Prudential Municipal Bond 2/20/97 4/30/97 Grace
Fund Torres
Prudential Municipal 2/20/97 8/31/97 Grace
Series Fund Torres
Prudential Pacific Growth 2/21/97 10/31/9 Eugene S.
Fund, Inc. 7 Stark
Prudential Special Money 2/21/97 6/30/97 Eugene S.
Market Fund, Inc. Stark
Prudential Structured 2/20/97 12/31/9 Eugene S.
Maturity Fund, Inc. 7 Stark
Prudential World Fund, 2/21/97 10/31/9 Grace
Inc. 7 Torres
The Global Total Return 2/19/97 12/31/9 Eugene S.
Fund, Inc. 7 Stark
The Target Portfolio Trust 2/18/97 12/31/9 Grace
7 Torres
First Financial Fund, Inc. 2/18/97 3/31/97 Grace
Torres
The High Yield Plus Fund, 2/18/97 3/31/97 Grace
Inc. Torres
