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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 AT END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
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1. Name and address of issuer:
Monarch Funds
Two Portland Square
Portland, Maine 04101
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2. Name of each series or class of funds for which this notice is filed:
Treasury Cash Fund
Government Cash Fund
Cash Fund
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3. Investment Company Act File Number: 33-49570
Securities Act File Number: 811-6742
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4. Last day of fiscal year for which this notice is filed:
August 31, 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):
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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:
Zero (0) Shares
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8. Number and amount of securities registered during the fiscal year other than
pursuant to Rule 24f-2:
58,000,000 Shares
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9. Number and aggregate sale price of securities sold during fiscal year:
Shares Dollars
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Treasury Cash Fund 764,142,591 $ 764,142,591
Government Cash Fund 6,085,105,285 6,085,105,285
Cash Fund 1,187,483,565 1,187,483,565
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TOTAL 8,036,731,441 $8,036,731,441
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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:
Shares Dollars
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Treasury Cash Fund 758,342,591 $ 758,342,591
Government Cash Fund 6,050,305,285 6,050,305,285
Cash Fund 1,170,083,565 1,170,083,565
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TOTAL 7,978,731,441 $7,978,731,441
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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):
Securities issued during the fiscal year in connection with
dividend reinvestment plans are included in the securities
reported in Item 9.
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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): $ 7,978,731,441
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(ii) Aggregate price of shares issued in connection
with dividend reinvestment plans (from Item 11,
if applicable): + 0*
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(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable): - 7,824,845,203
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(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a 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
[line (i), plus line (ii), less line (iii), plus
line (iv)] (if applicable): 153,886,238
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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 1/3300
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(vii) Fee due [line (i) or line (v) multiplied by
line (vi)]: $ 46,632.19
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* SHARES ISSUED IN CONNECTION WITH DIVIDEND REINVESTMENT PLANS ARE INCLUDED IN
THE SECURITIES REPORTED IN ITEM 9.
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).
[ X ]
Date of mailing or wire transfer of filing fees to the Commission's lockbox
depository:
October 29, 1996
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SIGNATURES
This report has been signed by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)*
/s/ David I. Goldstein, Vice President and Secretary
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David I. Goldstein, Vice President and Secretary
Date October 29, 1996
* Please print the name and title of the signing officer below the signature.
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U.S. Securities and Exchange Commission
Washington, D.C. 20549
RULE 24F-2 NOTICE
MONARCH FUNDS
Two Portland Square
Portland, Maine 04101
File Nos. 33-49570; 811-6742
SIGNATURE
Pursuant to the requirements of Rule 24f-2 under the Investment Company Act
of 1940, Monarch Funds has duly caused this Rule 24f-2 Notice to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of
Portland, and State of Maine, on this 29th day of October, 1996.
Monarch Funds
By: /s/ John Y. Keffer
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John Y. Keffer
President
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KIRKPATRICK & LOCKHART LLP
1800 MASSACHUSETTS AVENUE, N.W.
2ND FLOOR
WASHINGTON, DC 20036-1800
TELEPHONE (202) 778-9000
FACSIMILE (202) 778-9100
ARTHUR J. BROWN
(202) 778-9046
[email protected]
October 28, 1996
Monarch Funds
Two Portland Square
Portland, Maine 04101
Dear Sir/Madam:
Monarch Funds (the "Trust") is an unincorporated voluntary association
organized under the laws of the State of Delaware pursuant to a Trust Instrument
dated July 10, 1992. We understand that the Trust is about to file a Rule 24f-2
Notice for its three series, Cash Fund, Government Cash Fund and Treasury Cash
Fund, pursuant to Rule 24f-2 under the Investment Company Act of 1940, as
amended (the "1940 Act"), for the purpose of making definite the number of
shares which are registered for each series under the Securities Act of 1933,
as amended (the "1933 Act"), and which were sold by each series during its
fiscal year ended August 31, 1996.
We have, as counsel, participated in various business and other matters
related to the Trust. We have examined copies, either certified or otherwise
proved to be genuine, of the Trust Instrument and By-Laws of the Trust and other
documents relating to the organization and operation of the Trust, and we
generally are familiar with its business affairs. Based on the foregoing, it is
our opinion that the shares of beneficial interest in the Trust sold during the
Trust's fiscal year ended August 31, 1996, the registration of which will be
made definite by the filing of a Rule 24f-2 Notice, were legally issued, fully
paid and non-assessable. We express no opinion as to compliance with the 1933
Act, the 1940 Act or applicable state securities laws in connection with the
sales of the shares of beneficial interest.
The Trust is an entity of the type commonly known as a "business trust."
Under the laws of certain states, shareholders could, under certain
circumstances, be held personally liable for the obligations of the Trust.
The Trust Instrument states that shareholders of the Trust shall not be
personally liable for the debts, liabilities, obligations and expenses
incurred by, contracted for, or otherwise existing with respect to, the Trust
or by or on behalf of any series of the Trust. It also
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Monarch Funds
October 28, 1996
Page 2
requires that notice of such limitation be given on each note, bond, contract or
other undertaking issued by or on behalf of the Trust or the Trustees. The
Trust Instrument further provides (i) for indemnification out of the assets of
the applicable series for all losses and expenses of any shareholder held
personally liable for the obligations of the Trust solely by virtue of his
ownership of shares of the Trust and (ii) for the Trust, upon the request of a
shareholder, to assume the defense of any claim against the shareholder for any
act or obligation of the Trust. Thus, the risk of a shareholder incurring
financial loss on account of shareholder liability is limited to circumstances
in which the applicable series would be unable to meet its obligations.
We hereby consent to this opinion accompanying the Rule 24f-2 Notice which
you are about to file with the Securities and Exchange Commission.
Sincerely,
KIRKPATRICK & LOCKHART LLP
By: /s/ Arthur J. Brown
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Arthur J. Brown
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