<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 24F-2
AMENDED* ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24F-2
1. NAME AND ADDRESS OF ISSUER:
Northstar Advantage Trust
Two Pickwick Plaza
Greenwich, Connecticut 06830
2. NAME OF EACH SERIES OR CLASS OF FUNDS FOR WHICH THIS NOTICE IS FILED:
Northstar Advantage Multi-Sector Bond Fund - Class A, Class B and Class C
shares.
Northstar Advantage High Total Return Fund - Class A, Class B and Class C
shares.
Northstar Advantage Income and Growth Fund - Class A, Class B and Class C
shares.
3. INVESTMENT COMPANY ACT FILE NUMBER: 811-7978
SECURITIES ACT FILE NUMBER: 33-7978
4. LAST DAY OF FISCAL YEAR FOR WHICH THIS NOTICE IS FILED:
October 31, 1995
5. CHECK BOX IF 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:
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:
40,041,552 $222,060,262
10. NUMBER AND AGGREGATE SALE PRICE OF SECURITIES SOLD DURING THE FISCAL YEAR
IN RELIANCE UPON REGISTRATION PURSUANT TO RULE 24F-2:
40,041,552 $222,060,262
11. NUMBER AND AGGREGATE SALE PRICE OF SECURITIES ISSUED DURING THE FISCAL YEAR
IN CONNECTION WITH DIVIDEND REINVESTMENT PLANS, IF APPLICABLE:
1,711,236 $9,243,371
<PAGE>
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): $222,060,262
-------------
(II) AGGREGATE PRICE OF SHARES ISSUED IN
CONNECTION WITH DIVIDEND REINVESTMENT PLANS
(FROM ITEM 11): +9,243,371
-------------
(III) AGGREGATE PRICE OF SHARES REDEEMED OR
REPURCHASED DURING THE FISCAL YEAR: -93,798,418
-------------
(IV) AGGREGATE PRICE OF SHARES REDEEMED OR
REPURCHASED AND PREVIOUSLY APPLIED AS A
REDUCTION TO FILING FEES PURSUANT TO
RULE 24E-2: +0
-------------
(V) NET AGGREGATE PRICE OF SECURITIES SOLD
AND ISSUED DURING THE FISCAL YEAR IN RELIANCE
ON RULE 24F-2 [LINE (I), PLUS LINE (III),
LESS LINE (III), PLUS LINE (IV)]: 137,505,215
-------------
(VI) MULTIPLIER PRESCRIBED BY SECTION 6(B)
OF THE SECURITIES ACT OF 1933 OR OTHER
APPLICABLE LAW OR REGULATION: X.000344827 *
-------------
(VII) FEE DUE [LINE (I) OR LINE (V)
MULTIPLIED BY LINE (VII)]: $47,415.51 *
-------------
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.
[X]
DATE OF MAILING OR WIRE TRANSFER OF FILING FEES TO THE COMMISSION'S
LOCKBOX DEPOSITORY: DECEMBER 4, 1995
SIGNATURES
THIS REPORT HAS BEEN SIGNED BELOW BY THE FOLLOWING PERSON ON BEHALF OF THE
ISSUER AND IN THE CAPACITIES AND ON THE DATE INDICATED.
By: /s/ Lisa M. Hurley Date: December 7, 1995*
------------------- -----------------
Signature
Lisa M. Hurley, Vice President
------------------------------
Name and Title