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
Read instructions at end of Form before preparing Form.
Please print or type.
1. Name and address of issuer:
The Sierra Variable Trust
9301 Corbin Avenue
Northridge, California 91324
________________________________________________________________
2. Name of each series or class of funds for which this notice
is filed:
Global Money Fund
Growth Fund
International Growth Fund
U.S. Government Fund
Corporate Income Fund
Short Term Global Government Fund
Emerging Growth Fund
Growth and Income Fund
Short Term High Quality Bond Fund
________________________________________________________________
3. Investment Company Act File Number: 811-7462
Securities Act File Number: 33-57732
________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 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 purposes of
reporting securities sold after the close of the fiscal
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year but before termination of the issuer's 24f-2
declaration:
N/A
[ ]
________________________________________________________________
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:
N/A
________________________________________________________________
8. Number and amount of securities registered during the
fiscal year other than pursuant to rule 24f-2:
N/A
________________________________________________________________
9. Number and aggregate sale price of securities sold during
the fiscal year:
0*
________________________________________________________________
10. Number and aggregate sale price of securities sold during
the fiscal year in reliance upon registration pursuant to
rule 24f-2:
0*
________________________________________________________________
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):
0
________________________________________________________________
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):
N/A + ---
______________________
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable):
N/A - ---
______________________
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees
pursuant to rule 24e-2 (if applicable):
N/A + ---
______________________
(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):
N/A ---
______________________
(vi) Multiplier prescribed by Section 6(b) of the
Securities Act of 1933 or other applicable law or
regulation (see Instruction C.6):
x 1/3,300
______________________
(vii) Fee due {line (i) or line (v) multiplied by line
(vi)}:
$ 0
==========================
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.
* The Fund is the underlying investment company that sells
its shares exclusively to American General Life Insurance
Company's Unit Investment Trust Separate Account D
("Separate Account D") that funds variable annuity
contracts. Separate Account D is an unmanaged separate
account that offers interests therein that are registered
under the Securities Act of 1933, as amended, and on which
a registration fee has been or will be paid. Accordingly,
the Fund is not required to pay any fee pursuant to Rule
24f-2(c) and Instructions B.5. and C.2. to Form 24F-2.
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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
SIGNATURES
This report has been signed by the following person on behalf of
the issuer and in the capacities and on the date indicated.
By (Signature and Title)* /s/ Craig M. Miller
Craig M. Miller, Assistant Treasurer
Date February 24, 1997
* Please print the name and title of the signing officer below
the signature.
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2000 One Logan Square Morgan, Lewis
&Bockius LLP
Philadelphia, PA 19103-6993 COUNSELORS AT LAW
215-963-5000
FAX: 215-963-5299
February 24, 1997
The Sierra Variable Trust
9301 Corbin Avenue
Northridge, California 91324
Re: Rule 24f-2 Notice for The Sierra Variable Trust
(File Nos. 33-57732 and 811-7462)
Ladies and Gentlemen:
The Sierra Variable Trust (the "Fund") is a business trust organized under the
laws of the Commonwealth of Massachusetts with its principal executive offices
in Northridge, California. The Fund is an open-end diversified management
investment company registered with the Securities and Exchange Commission (the
"Commission") under the Investment Company Act of 1940, as amended (the "1940
Act"). This opinion relates to shares of beneficial interest, without par
value, sold by the Fund in reliance upon Rule 24f-2 during its fiscal year
ended December 31, 1996, the registration of which is made definite by the
filing of the attached Notice.
We have reviewed all proceedings taken by the Fund in connection with the
authorization of an unlimited number of shares of beneficial interest,
without par value, which have been offered under prospectuses included as
part of the Fund's Registration Statement on Form N-1A, as amended to the
date hereof, which has been filed with the Commission under the Securities
Act of 1933, as amended and the 1940 Act (collectively, the "Registration
Statement").
We are of the opinion that such shares of beneficial interest sold pursuant to
the Registration Statement were, when issued in return for the payment
described in the Fund's prospectus included as part of the Fund's Registration
Statement, legally issued, fully paid and nonassessable by the Fund.
Very truly yours,
/s/ Morgan, Lewis & Bockius LLP
Philadelphia Washington New York Los Angeles Miami
Harrisburg Pittsburgh Princeton
London Brussels Frankfurt Tokyo Singapore Jakarta
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