UNITED STATES
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: U.S. Global Accolade Funds
7900 Callaghan Road
San Antonio, Texas 78229
2. The name of each series or class of securities for which this Form is
filed. If the Form is being filed for all series and classes of securities
of the issuer, check the box but do not list series or classes): [ ]
Bonnel Growth Fund
3. Investment Company Act File Number: 800-7662
Securities Act File Number: 33-61542
4(a). Last day of fiscal year for which this Form is filed: September 30, 1997
4(b).[ ] Check box if this Form is being filed late (i.e., more than 90
calendar days after the end of the issuer's fiscal year). See Instruction
A.2. Note: If the Form is being filed late, 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.
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year pursuant to section 24(f): $67,714,310
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $64,599,629
(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: N/A
(iv) Total available redemption credits [add Items
5(ii) and 5(iii)]: $64,599,629
(v) Net sales--if Item 5(i) is greater than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $3,114,681
(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)]: $(3,114,681)
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FORM 24F-2 Page 2
November 28, 1997
(vii)Multiplier for determining registration fee (see
Instruction C.9): x $0.000295
(viii) Registration fee due [multiply Item 5(v) by Item
5(vii)]. Enter "0" if no fee is due. = $918.83
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: [N/A] 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: [N/A]
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. + N/A
8. Total of the amount of the registration fee due plus
any interest due [line 5(viii) plus line 7]: = $918.83
9. Date the registration fee and any interest payment was
sent to the Commission's lockbox depository:
November 28, 1997 Method of Delivery: [X] Wire Transfer
(Date) [ ] Mail or other means
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: /S/ Thomas D. Tays
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(Signature)
Thomas D. Tays, Chief Financial Officer
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(Typed Name and Title)
Date: November 28, 1997
