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Annual Notice of Securities Sold Pursuant to Rule 24F-2
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
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1. Name and address of issuer:
The Fahnestock Funds
110 Wall Street
New York, NY 10005
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2. Name of each series or class of funds for which this notice
is filed:
Hudson Capital Appreciation Fund shares of beneficial
interest, par value $.01 per share
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3. Investment Company Act File Number: 811-6166
Securities Act File Number: 33-36697
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4. Last day of fiscal year for which this notice is filed:
December 31, 1995
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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
N/A
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6. Date of termination of issuer's declaration under rule 24f-
3(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:
151,300.835 shares at an estimated offering price of $11.50
per share (total offering price of $1,741,109.60) representing
net redemptions from prior year(s) and applied in "reduction"
of amount to be registered pursuant to rule 24e-2 by
Post-Effective Amendment No. 5 of the Registration Statement
under the Securities Act of 1933 (Amendment No. 7 of the
Registration Statement under the Investment Company Act of
1940)
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9. Number and aggregate sale price of securities sold during
the fiscal year:
141,456.658 shares at an aggregate sale price of
$1,678,204.56
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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:
None. All shares sold were sold in reliance on registration
under rule 24e-2 (See Items 8 and 9).
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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):
125,191.651 shares at an aggregate price of
$1,413,413.74
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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):
$ -0-
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(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable):
1,413,413.74
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(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable):
(1,413,413.74)
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(iv) Aggregate price of shares redeemed or repurchased and
previously applied as reduction to filing fees pursuant to
rule 24e-2 (if applicable):
$ -0-
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(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2:
$ -0-
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(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see
Instruction C.6)
x 1/2900
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(vii) Fee due [line (i) or line(v) multiplied by line
(vi)]:
$ -0-
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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).
N/A
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
N/A
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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.
RUSSELL POLLACK
By (Signature and Title) ________________________________________
Russell Pollack, Secretary
Date February 21, 1996
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[FAITH COLISH LETTERHEAD]
February 21, 1996
The Fahnestock Funds
110 Wall Street
New York, New York 10005
Attention: Mr. Albert G. Lowenthal
Chairman and Chief Executive Officer
Re: Form 24F-2
Gentlemen:
You have requested that we, as counsel to The Fahnestock Funds (the
"Company"), render an opinion in connection with the filing by the Company of
the annexed Form 24F-2 (the "Form") pursuant to the Investment Company Act of
1940 (the "Act") for the Company's fiscal year ended December 31, 1995. The Form
states that during the fiscal year ended December 31, 1995, an aggregate of
141,456.658 shares of beneficial interest, $.01 par value per share (the
"Shares"), of the Company were sold for an aggregate public offering price of
$1,678,204.56 (excluding 125,191.651 Shares, with a purchase value of
$1,413,413.74, issued upon automatic reinvestment of dividends). As indicated in
Item 10 of the Form, all of the Shares sold in 1995 had been registered pursuant
to Rule 24e-2 under the Act.
We have examined the Company's Declaration of Trust, its By-Laws,
resolutions adopted by its Board of Trustees, and other records and documents
that we have deemed necessary for the purpose of this opinion. We have also
examined certain other documents, papers, statutes and authorities as we have
deemed necessary to form a basis for the opinion hereinafter expressed.
On the basis of the foregoing, and assuming that all of the Shares
were sold in accordance with the terms of the
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The Fahnestock Funds
February 21, 1996
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Company's Prospectus in effect at the time of sale, we are of the opinion that
the Shares were legally issued, fully paid and non-assessable by the Company.
Very truly yours,
FAITH COLISH
A Professional Corporation
by FAITH COLISH
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Faith Colish
