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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.
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1. Name and address of issuer: Piper Global Funds Inc.
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2. Name of each series or class of funds for which this notice is filed:
Emerging Markets Growth Fund
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3. Investment Company Act File Number: 811-06046
Securities Act File Number: 33-48299
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4. Last day of fiscal year for which this notice is filed: June 30, 1996
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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:
/ /
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6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see instruction A.6): N/A
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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
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8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2: None
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9. Number and aggregate sale price of securities sold during the fiscal
year:
1,061,183 $ 8,309,695
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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.
1,061,183 $ 8,309,695
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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): N/A
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12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during + 8,309,695
the fiscal year in reliance on rule 24f-2 -------------------
(from Item 10):
(ii) Aggregate price of shares issued in connection + 0
with dividend reinvestment plans (from Item 11, -------------------
if applicable):
(iii) Aggregate price of shares redeemed or repurchased - 20,504,334
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.
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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:
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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 8/27/96
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*Please print the name and title of the signing officer below the signature.
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D O R S E Y & W H I T N E Y LLP
Pillsbury Center South
220 South Sixth Street
Minneapolis, Minnesota 55402-1498
Telephone: (612)340-2600
Fax: (612)340-2868
August 27, 1996
Piper Capital Management Incorporated
222 South Ninth Street
Minneapolis, Minnesota 55402-3804
Re: Rule 24f-2 Notice for Emerging Markets Growth Fund,
a series of Piper Global Funds Inc.
(File Nos. 33-48299, 811-06046)
Dear Sir or Madam:
We have acted as counsel to Emerging Markets Growth Fund (the "Fund"), a
series of Piper Global Funds Inc., a Minnesota corporation (the "Company"), in
connection with the Fund's Registration Statement on Form N-1A (File Nos. 33-
48299, 811-060460). This opinion is addressed to you in connection with a filing
by the Company 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 1,061,183 shares of common
stock, $.01 par value per share, sold by the Fund during the fiscal year ended
June 30, 1996 (including, pursuant to section (b)(3)(ii) of Rule 24f-2, shares
sold by the Hercules Latin American Value Fund (the "Predecessor Fund") prior to
the acquisition by the Fund on June 21, 1996 of substantially all of the assets
of the Predecessor Fund), 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, to the extent applicable, the Registration Statement of
the Fund referred to above or the Registration Statement on Form N-1A of the
Predecessor Fund.
Very truly yours,
/s/ Dorsey & Whitney LLP
