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APPENDIX I OMB APPROVAL
OMB Number: 3235-0456
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
ANNUAL FILING UNDER RULE 24F-2
OF THE INVESTMENT COMPANY ACT OF 1940
READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
1. NAME AND ADDRESS OF ISSUER:
The Valiant Fund
1776 Heritage Drive
North Quincy, Ma. 02171
2. THE NAME OF EACH SERIES OR CLASS OF SECURITIES FOR WHICH THIS FORM IS FILED
(LEAVE THIS ITEM BLANK IF THE FORM IS BEING FILED FOR ALL SERIES AND
CLASSES OF SECURITIES OF THE ISSUER):
Valiant U.S. Treasury Money Market
Valiant U.S. Treasury Income
Valiant General Money Market
Valiant Tax-Exempt Money Market
3. INVESTMENT COMPANY ACT FILE NUMBER: 811-7582
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SECURITIES ACT FILE NUMBER: 33-59840
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4(a). LAST DAY OF FISCAL YEAR FOR WHICH THIS FORM IS FILED: August 31, 1997
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4(b). [ ] CHECK BOX IF THIS FORM IS BEING FILED LATE (I.E., MORE THAN 90 DAYS
AFTER THE END OF THE ISSUER'S FISCAL YEAR).
NOTE: IF THE FORM IS BEING FILED MORE THAN 90 DAYS AFTER THE END OF THE
ISSUER'S FISCAL YEAR, INTEREST MUST BE PAID ON THE REGISTRATION FEE DUE.
4(c). [ ] CHECK BOX IF THIS IS THE LAST TIME THE ISSUER WILL BE FILING THIS
FORM.
SEC 2393 (_/97)
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5. CALCULATION OF REGISTRATION FEE:
<S> <C> <C> <C>
(i) AGGREGATE SALE PRICE OF SECURITIES SOLD DURING
THE FISCAL YEAR PURSUANT TO SECTION 24(f): $4,998,903,974
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(ii) AGGREGATE PRICE OF SECURITIES REDEEMED OR
REPURCHASED DURING THE FISCAL YEAR: $4,583,591,359
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(iii) AGGREGATE PRICE OF SECURITIES REDEEMED OR
REPURCHASED DURING ANY PRIOR FISCAL YEAR ENDING
NO EARLIER THAN OCTOBER 11, 1995 THAT WERE NOT
PREVIOUSLY USED TO REDUCE REGISTRATION FEES
PAYABLE TO THE COMMISSION: $
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(iv) TOTAL AVAILABLE REDEMPTION CREDITS (ADD ITEMS
5(ii) AND 5(iii): $4,583,591,359
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(v) NET SALES -- IF ITEM 5(i) IS GREATER THAN ITEM
5(iv) [SUBTRACT ITEM 5(iv) FROM ITEM 5(i)]: $ 415,312,615
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(vi) REDEMPTION CREDITS AVAILABLE FOR USE IN FUTURE
YEARS -- IF ITEM 5(i) IS LESS THAN ITEM 5(iv)
[SUBTRACT ITEM 5(iv) FROM ITEM 5(i)]: $( )
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(vii) MULTIPLIER FOR DETERMINING REGISTRATION FEE (SEE
INSTRUCTION C.9): 1/3300
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(viii) REGISTRATION FEE DUE [MULTIPLY ITEM 5(v) BY ITEM
5(vii)] (ENTER "0" IF NO FEE IS DUE): $ 125,852
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6. PREPAID SHARES
IF THE RESPONSE TO ITEM 5(i) WAS DETERMINED BY DEDUCTING AN AMOUNT OF
SECURITIES THAT WERE REGISTERED UNDER THE SECURITIES ACT OF 1933 PURSUANT
TO RULE 24e-2 AS IN EFFECT BEFORE OCTOBER 11, 1997, THEN REPORT THE AMOUNT
OF SECURITIES (NUMBER OF SHARES OR OTHER UNITS) DEDUCTED HERE: ___________.
IF THERE IS A NUMBER OF SHARES OR OTHER UNITS THAT WERE REGISTERED PURSUANT
TO RULE 24e-2 REMAINING UNSOLD AT THE END OF THE FISCAL YEAR FOR WHICH THIS
FORM IS FILED THAT ARE AVAILABLE FOR USE BY THE ISSUER IN FUTURE FISCAL
YEARS, THEN STATE THAT NUMBER HERE: ____________.
7. INTEREST DUE -- IF THIS FORM IS BEING FILED MORE THAN 90 DAYS AFTER THE END
OF THE ISSUER'S FISCAL YEAR (SEE INSTRUCTION D):
+$____________
8. TOTAL OF THE AMOUNT OF THE REGISTRATION FEE DUE PLUS ANY INTEREST DUE [LINE
5(viii) PLUS LINE 7]:
+$ 125,852
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9. DATE THE REGISTRATION FEE AND ANY INTEREST PAYMENT WAS SENT TO THE
COMMISSION'S LOCKBOX DEPOSITORY:
November 20, 1997
METHOD OF DELIVERY:
_X_ WIRE TRANSFER
___ MAIL OR OTHER MEANS
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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/ Susan M. Schwartz
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VP
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DATE 11-18-97
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*PLEASE PRINT THE NAME AND TITLE OF THE SIGNING OFFICER BELOW THE
SIGNATURE.
