EXCELSIOR FUNDS
6 ST. JAMES AVENUE
BOSTON, MASSACHUSETTS 02116
(617) 423-0800
October 23, 1995
Division of Investment Management
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC 20549
RE: RULE 24F-2 NOTICE FOR EXCELSIOR FUNDS WITH RESPECT TO EXCELSIOR
INSTITUTIONAL MONEY FUND AND EXCELSIOR INSTITUTIONAL TREASURY MONEY
FUND (REGISTRATION STATEMENT FILE NO. 33-71306)
Ladies and Gentlemen:
The purpose of this letter is to notify the Commission within two
months of the end of the Registrant's fiscal year of the number of Registrant's
shares of beneficial interest $0.00001 per share (the "Shares"), sold during the
last fiscal year which are to be registered pursuant to Rule 24f-2 and to pay
the appropriate registration fee.
The information required by the above-referenced rule is as follows:
1. Fiscal year for which notice is filed:
Year ended August 31, 1995
2. Number of Shares which have been registered under the Securities Act of
1933 other than pursuant to Rule 24f-2 but which remained unsold at the
beginning of the fiscal year for which this notice is filed:
None
3. Number of Shares registered during the fiscal year other than pursuant
to Rule 24f-2:
None
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4. Number and dollar amount of Shares sold during the fiscal year for
which this notice is filed:
DOLLAR
REGISTRANT SHARES* AMOUNT*
Excelsior Institutional Money Fund 8,171,328,156 $8,171,328,156
Excelsior Institutional Treasury Money Fund 4,024,463,629 $4,024,463,629
12,195,791,785 $12,195,791,785
5. Number and dollar amount of Shares sold during the fiscal year for
which this notice is filed in reliance upon registration pursuant to
Rule 24f-2:
DOLLAR
REGISTRANT SHARES* AMOUNT*
Excelsior Institutional Money Fund 8,171,328,156 $8,171,328,156
Excelsior Institutional Treasury Money Fund 4,024,463,629 $4,024,463,629
12,195,791,785 $12,195,791,785
*Excludes shares issued upon reinvestment of dividends.
Enclosed is an opinion of counsel. No fee is due to the Securities
and Exchange Commission because the Trust had net redemptions for the fiscal
year ended August 31, 1995. The Trust had net carryforward redemptions at August
31, 1995 in the amount of $120,859,560.
Pursuant to Rule 24f-2(c) actual aggregate sales price used to
calculate the filing fee is ($120,859,560). This amount reflects total shares
sold in reliance upon registration pursuant to Rule 24f-2 of $12,195,791,785
reduced by the actual aggregate redemption price of $12,316,651,345 for shares
redeemed during the fiscal year ended August 31, 1995.
Very truly yours,
EXCELSIOR FUNDS
By: /S/ DANIEL E. SHEA
Daniel E. Shea
Assistant Treasurer
<PAGE>
PHILIP W. COOLIDGE
6 ST. JAMES AVENUE
NINTH FLOOR
BOSTON, MASSACHUSETTS 02116
(617) 423-0800
October 23, 1995
Excelsior Funds
6 St. James Avenue
Boston, MA 02116
RE: RULE 24F-2 NOTICE FOR EXCELSIOR FUNDS WITH RESPECT TO EXCELSIOR
INSTITUTIONAL MONEY FUND AND INSTITUTIONAL TREASURY MONEY FUND
Ladies and Gentlemen:
This opinion is being furnished in connection with the registration,
pursuant to Rule 24f-2 under the Investment Company Act of 1940, as amended (the
"1940 Act"), of an indefinite number of Shares of Beneficial Interest (par value
$0.00001 per share) (the "Shares") of Excelsior Funds, a Delaware business trust
(the "Trust") under the Securities Act of 1933, as amended (the "1933 Act"). I
understand that the Trust proposes to file a notice (the "Notice") with the
Securities and Exchange Commission (the "Commission") with respect to the
Trust's fiscal year ended August 31, 1995, pursuant to such Rule 24f-2 under the
1940 Act. This opinion is being furnished with a view to your filing it with the
Commission in conjunction with the filing of the Notice.
This opinion is limited solely to the laws of the State of Delaware as
applied by courts in such State. I understand that the foregoing limitation is
acceptable to you.
Based upon and subject to the foregoing, please be advised that it is
my opinion that the Shares covered by the Notice were legally issued and (to the
extent still outstanding) are fully paid and nonassessable, except that, as set
forth in the Trust's registration statements as currently in effect filed with
the Commission pursuant to the 1933 Act, shareholders of the Trust may under
certain circumstances be held personally liable for its obligations.
Very truly yours,
/S/ PHILIP W. COOLIDGE
Philip W. Coolidge
