<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
G.T. Global Floating Rate Fund, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
361969108
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A
fee is not required only if the filing person:(1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such
class.)(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE> 2
CUSIP No. 361969108 13G Page 2 of 6
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GT Global, Inc. (94-3028918)and LGT Asset Management, Inc.
(94-3037666).
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]0
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
GT Global, Inc. - California
LGT Asset Management, Inc. - California
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,001,482.57 - shares
OWNED BY EACH
REPORTING
PERSON WITH
6 SHARED VOTING POWER
- 0 -
7 SOLE DISPOSITIVE POWER
2,001,482.57 - shares
8 SHARED DISPOSITIVE POWER
- 0 -
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,001,482.57 - shares
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.46 %
12 TYPE OF REPORTING PERSON*
BD, HC
<PAGE> 3
CUSIP: 361969108 Page 3 of 6
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
Item 1. Security and Issuer
(a) GT Global Floating Rate Fund (the "Company")
(b) Address: 50 California Street
San Francisco, CA 94111
Item 2. Identity and Background
(a) This Schedule 13G is being filed by (i) GT Global, Inc., a California
Corporation, registered broker dealer; and (ii) LGT Asset Management, Inc., a
holding company. LGT Asset Management, Inc. is an indirect wholly owned
subsidiary of Liechtenstein Global Trust, AG. Liechtenstein Global Trust, AG
which has numerous worldwide affiliates is controlled by The Prince of
Liechtenstein Foundation, a parent organization for the various business
enterprises of the Princely Family of Liechtenstein.
(b) The address of the principal place of business of GT Global, Inc. and
LGT Asset Management, Inc., is 50 California Street, San Francisco, CA 94111.
(c) GT Global, Inc. and LGT Asset Management, Inc. are California
Corporations.
(d) Common Stock
(e) CUSIP Number: 361969108
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b), check
whether the person filing is a:
(a) X Broker or dealer registered under Section 15 of the Act.
(g) X Parent Holding Company, in accordance with Rule 13d-1 (b) (ii)
(g): see Item 7.
<PAGE> 4
CUSIP: 361969108 Page 4 of 6
Item 4. Ownership
(a) For the month ended December 31, 1997, the aggregate number of shares
of the Company's common stock beneficially owned by GT Global and LGT Asset
Management, Inc., as the holding company is 2,001,482.57 shares.
(b) Percent of Class: 12.46 % based upon 16,061,805.11 shares outstanding.
(c) GT Global and its parent LGT Asset Management, Inc.have sole power to
vote or to direct to vote, and sole power to dispose of or to direct the
disposition of, all of the shares reported in this statement. LGT Asset
Management, Inc. is an indirect wholly owned subsidiary of Liechtenstein Global
Trust, AG. Liechtenstein Global Trust, AG which has numerous worldwide
affiliates is controlled by The Prince of Liechtenstein Foundation, a parent
organization for the various business enterprises of the Princely Family of
Liechtenstein.
Item 5. Ownership of Five Percent or Less
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Securities Being Reported by the Parent Holding Company
See attached Exhibit I.
Item 8. Identification and Classification of Members of a Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
<PAGE> 5
CUSIP: 361969108 Page 5 of 6
Item 10. Certification
By signing below I certify that to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: June 9, 1998
Signatures:
GT Global, Inc.,
as Investment Adviser
By: /s/ Helge Lee
--------------
Helge Lee
LGT Asset Management, Inc.,
as Holding Company
By: /s/ Helge Lee
--------------
Helge Lee
<PAGE> 1
CUSIP: 361969108 Page 5 of 6
EXHIBIT I
Item 7
(a) X Broker or dealer registered under Section 15 of the Act.
(g) X Parent Holding Company, in accordance with Rule 13d-1 (b) (ii)
(g).
