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
1.Name and address of issuer:
Jackson National Capital Managment
Funds 5901 Executive Drive
Lansing, Michigan 48911
2.Name of each series or class of funds for which
this notice is filed:
Jackson National Money Market Fund
Jackson National Tax-Exempt Fund
Jackson National Income Fund
Jackson National Growth Fund
Jackson National Total Return Fund
3.Investment Company Act File Number:
811-6611
Securities Act File Number:
33-46590
4.Last day of fiscal year for which this notice is filed:
October 31, 1996
5.Check box if this notice is being filed more than 180
days after the close of the issuer's fiscal year for
the 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):
Not applicable
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:
Not applicable
8.Number and amount of securities registered during the
fiscal year other than pursuant to rule 24f-2:
Shares Sale
Price Money Market Fund
0.000
0.00
Tax-Exempt Fund 900,189.000
9,542,003.40
Income Fund 711,262.000
7,233,534.54
Growth Fund 2,098,637.000
25,015,753.04
Total Return Fund 1,467,183.000
18,061,022.73
5,177,271.000
59,852,313.71
9.Number and aggregate sale price of securities sold
during the fiscal year:
Shares Sale
Price
Money Market Fund 27,015,443.440
27,015,443.44
Tax-Exempt Fund 120,735.910
1,261,318.84
Income Fund 168,281.215
1,693.151.93
Growth Fund 768,768.582
9,309,277.23
Total Return Fund 378,657.205
4,725,827.32
28,451,886.352
44,005,018.76
10. Number and aggregate sale price of securities sold
during the fiscal year in reliance upon registration
pursuant to rule 24f-2:
Shares Sale
Price
Money Market Fund 27,015,443.440
27,015,443.44
Tax-Exempt Fund (779,453.090)
(8,280,684.56)
Income Fund (542,980.785)
(5,540,382.61)
Growth Fund (1,329,868.418)
(15,706,475.81)
Total Return Fund (1,088,525.795)
(13,335,195.41)
23,274,615.352
(15,847,294.95)
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):
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):
$(15,847,295)
(ii) Aggregate
price
of shares issued in connection with dividend
reinvestment plans (from Item 11, if applicable):
+
0
(iii) Aggregate
price
of shares redeemed or repurchased during the fiscal year
(if applicable):
- 34,781,708
(iv) Aggregate
price
of shares redeemed or repurchased and previously applied
as a reduction to filing fees pursuant to rule 24e-2 (if
applicable):
+(42,862,738)
(v) Net aggregate
price of securities sold and issued during the fiscal
year in reliance on rule 24f-2 [line (i), plus line
(ii), less line (iii), plus line (iv)] (if applicable):
(50,629,003)
(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
13. Check box if fees are being remitted to the
Commission's lockbox depository as described in section
3a of the Commission's Rule 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/ Andrew
B.
Hopping
Andrew B. Hopping
Vice President
Date: December 27,
1996
VPKK-001/128913.V1
1
December 26,
1996
Board of Trustees
Jackson National Capital
Management Funds
5901 Executive Drive
Lansing, Michigan 48909
Re: 24f-2 Notice for Jackson
National Capital Management Funds
File Nos. 33-46590 and
8116611
Dear Trustees:
We have acted as counsel to Jackson National Capital
Management Funds (the "Fund") since its organization in
connection with its public offering of an indefinite number of
units of beneficial interest, no par value ("Shares"), from
each of the five authorized series of the Fund.
Based upon the foregoing, it is our opinion that the
Shares issued, as reported on the accompanying Notice pursuant
to Rule 24f-2 reporting sales and redemptions during the period
November 1, 1995 through October 31, 1996, were legally issued,
fully paid and nonassessable.
In rendering this opinion, we have relied upon an
Officer's Certificate executed by an officer of the Fund
representing, among other things, that all Shares of the Fund
have been issued at the net asset value per share next
determined after the Fund's receipt of an order in proper form
and payment therefor from the investor, as described in the
Fund's Prospectus and Statement of Additional Information.
We hereby consent to the filing of this opinion with the
Securities and Exchange Commission pursuant to Rule 24f-2
promulgated under Section 24(f) of the Investment Company Act
of 1940, together with the Fund's Rule 24f-2 Notice.
Very truly yours,
VEDDER, PRICE, KAUFMAN
& KAMMHOLZ
By:
Cathy G. O'Kelly
COK:km
