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:
U.S. Global Accolade Funds
7900 Callaghan Road
San Antonio, Texas 78229
2. Name of each series or class of funds for which this notice is filed:
MegaTrends Fund
3. Investment Company Act File Number: 811-7662
Securities Act File Number: 33-61542
4. Last day of fiscal year for which this notice is filed:
June 30, 1997
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:
/ /
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:
None
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2.
None
9. Number and aggregate sale price of securities sold during the fiscal year:
Number of Shares --157,711
Aggregate Sales Price -- $1,955,228
10. Number and aggregate sale price of securities sold during the fiscal year
in reliance upon registration pursuant to rule 24f-2.
Number of Shares -- 157,711
Aggregate Sales Price -- $1,955,228
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):
Number of Shares -- 36,380
Aggregate Sales Price -- $437,124
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): $ 1,955,228
(ii) Aggregate price of shares issued in connection with dividend
reinvestment plans (from Item 11, if applicable): + 437,124
(iii)Aggregate price of shares redeemed or repurchased during the fiscal
year (if applicable): (9,125,843)
(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
(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): $ (6,733,491)
(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 -
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.
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 (17CFR 202.3a).
/ /
Date of wire transfer of filing fees to the Commission's lockbox
depository:
None required
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
THOMAS D. TAYS
Chief Financial Officer,
Date: August 27, 1997
[U.S. GLOBAL INVESTORS, INC. LOGO]
August 27, 1997
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Rule 24f-2 Notice for U.S. Global Accolade Funds--File No. 811-7662
Gentlemen:
As counsel to U.S. Global Accolade Funds (the "Trust"), a Massachusetts
business trust, I have been asked to render this opinion in connection with the
filing by the Trust of a Rule 24f-2 Notice (the "Notice") with respect to its
fiscal year ended June 30, 1997.
Reference is made to paragraph 10 of the Notice, wherein the Trust reports
the number and amount of shares of the Trust (the "Shares") representing
interests in the MegaTrends Fund sold during the fiscal year ended June 30,
1997, in reliance upon Rule 24f-2 under the Investment Company Act of 1940, as
amended. I have examined the First Amended and Restated Master Trust Agreement
and By-Laws of the Trust, the Notice, the records of certain meetings and
written consents of the Trustees of the Trust, and such other documents as I
deemed necessary for the purposes of this opinion.
Based on the foregoing, and assuming that all of the Shares were sold,
issued and paid for in accordance with the terms of the Trust's Prospectus and
Statement of Additional Information as contained in the Trust's Registration
Statement on Form N-1A in effect at the time of sale, in my opinion, the Shares
were legally issued and are fully paid and non-assessable by the Trust.
I am licensed to practice law in the State of Oklahoma and not in any other
jurisdiction. I do not claim special expertise in the laws of any other
jurisdiction.
I hereby consent to the use of this opinion as an Exhibit to the Rule 24f-2
Notice to be filed on behalf of the Trust, covering the registration of such
shares under the 1933 Act. I further consent to reference in the Prospectus of
the Trust to the fact that this opinion concerning the legality of the issue has
been rendered by me.
Sincerely,
/s/ Thomas D. Tays
THOMAS D. TAYS, ESQ.
TDT:kle
7900 Callaghan Road
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MAIL ADDRESS:
P.O. Box 781234
San Antonio, Texas
78278-1234
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Tel 210-308-1234
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1-800-US-FUNDS
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Fax 210-308-1223
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email [email protected]
