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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 AS END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
______________________________________________________________________________
1. Name and address of issuer:
PIPER GLOBAL FUNDS INC.
222 SOUTH NINTH STREET
MINNEAPOLIS, MN 55402-3804
______________________________________________________________________________
2. Name of each series or class of funds for which this notice is filed:
EMERGING MARKETS GROWTH FUND
PACIFIC EUROPEAN GROWTH FUND
______________________________________________________________________________
3. Investment Company Act File Number: 811-06046
Securities Act File Number: 33-48299
______________________________________________________________________________
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):
N/A
______________________________________________________________________________
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:
1,605,944 shares $ 18,803,501
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______________________________________________________________________________
10. Number and aggregate sale price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2.
1,605,944 shares $ 18,803,501
______________________________________________________________________________
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):
610,491 shares $ 8, 150,058
______________________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during + 18,803,501
the fiscal year in reliance on rule 24f-2 ___________________
(from Item 10):
(ii) Aggregate price of shares issued in connection + 8,150,058
with dividend reinvestment plans (from Item 11, ___________________
if applicable):
(iii) Aggregate price of shares redeemed or repurchased - 34,790,163
during the fiscal year (if applicable): ___________________
(iv) Aggregate price of shares redeemed or repurchased + 0
and previously applied as a reduction to filing ___________________
fees pursuant to rule 24e-2 (if applicable):
(v) Net aggregate price of securities sold and issued 0
during the fiscal year in reliance on rule 24f-2 ___________________
line (i), plus line (ii), less line (iii), plus
line (iv) (if applicable):
(vi) Multiplier prescribed by Section 8(b) of the x N/A
Securities Act of 1933 or other applicable law or ___________________
regulation (see instruction C.8): 0
(vii) Fee due (line (i) or line (v) multiplied by ___________________
line (vi)):
INSTRUCTION: 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.
By (Signature and Title)* /s/ Robert H. Nelson
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Treasurer, Piper Global Funds Inc.
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Date 11/18/96
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*Please print the name and title of the signing officer below the signature.
_______________________________________________________________________________
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DORSEY & WHITNEY LLP
PILLSBURY CENTER SOUTH
220 SOUTH SIXTH STREET
MINNEAPOLIS, MINNESOTA 55402-1498
TELEPHONE: (612) 340-2600
FAX: (612) 340-2868
November 18, 1996
Piper Capital Management Incorporated
222 South Ninth Street
Minneapolis, Minnesota 55402-3804
Re: Rule 24f-2 Notice for Piper Global Funds Inc.
(File Nos. 33-48299, 811-06046)
Dear Sir or Madam:
We have acted as general counsel to Piper Global Funds Inc., a
Minnesota corporation (the "Fund"), in connection with the Fund's Registration
Statement on Form N-1A (File Nos. 33-48299 and 811-06046). This opinion is
addressed to you in connection with a filing by the Fund of a notice (the
"Notice") pursuant to Rule 24f-2 under the Investment Company Act of 1940, as
amended. In that connection, we have examined such documents and have reviewed
such questions of law as we have considered necessary and appropriate for the
purpose of this opinion. Based thereon, we advise you that, in our opinion, the
2,216,435 shares of common stock, $.01 par value per share, sold by the Fund
during the fiscal period ended September 30, 1996, as set forth in the Notice,
were legally issued, have been fully paid, and are nonassessable, if issued and
sold upon the terms and in the manner set forth in the Registration Statement of
the Fund referred to above.
Very truly yours,
/s/ DORSEY & WHITNEY LLP
KLP
