SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
RULE 24F-2 NOTICE
FOR
PAUZE FUNDS
(Name of Registrant)
7900 Callaghan Road
San Antonio, Texas 78229
(Address of principal offices)
Pauze U.S. Government Total Return Bond Fund, shares no par value
(Title of securities with respect to which notice is filed)
File Nos. 33-71562
811-8148
1. Fiscal year for which Notice is filed:
May 1, 1995 through April 30,1996
2. Number or 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 but which remained unsold at the beginning of such fiscal year:
Pauze U.S. Government Total Government Total Return Bond Fund -- 0
3. Number or amount of securities, if any, registered during such fiscal year
other than pursuant to Rule 24f-2:
Pauze U.S. Government Total Return bond Fund -- 0
4. Amount of securities sold during such fiscal year net of shares issued
upon reinvestment of dividends:
Pauze U.S. Government Total Return Bond Fund $ 393,939,313
5. Amount of securities sold during such fiscal year net of shares issued
upon reinvestment in reliance upon registration pursuant to Rule 24f-2:
Pauze U.S. Government Total Return Bond Fund $ 393,939,313
6. The required opinion of counsel is attached hereto.
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7. Calculation of Fees:
PAUZE U.S. GOVERNMENT TOTAL RETURN BOND FUND
Amount sold $ 393,939,313
Amount redeemed $ 358,078,410
------------
$ 35,860,903
Fee Rate / 2,900
Total Fees $ 12,365.83
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DATE: June 20 , 1996
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PAUZE FUNDS
BY: /s/ Charles W. Lutter, Jr.
Charles W. Lutter, Jr. Secretary of the Trust
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Charles W. Lutter, Jr.
Attorney and counselor at Law
103 Canyon Oaks
San Antonio, TX 78232
Telephone (210) 496-5438
June 18, 1996
Securities and Exchange Commission
Judiciary Place
450 Fifth Street, N.C.
Washington, D.C. 20549
RE: Rule 24f-2 Notice For Pauze Funds
File Nos. 33-71562 and 811-8148
Gentlemen:
As counsel to Pauze Funds(the "Trust"), I have been requested 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 April 30,1996.
Reference is made to paragraph 5 of the Notice, wherein the Trust reports
the number and amount of shares of the Trust (the"shares") representing interest
in the Pauze U.S. Government Total Return Bond Fund sold during the fiscal year
ended April 30, 1996 in reliance upon Rule 24f-2 under the Investment Company
Act of 1940, as amended.
I have examined the Master Trust Agreement, as amended, 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 deemed necessary for
purposes of this opinion.
Based upon the forgoing, 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 contained in the Trust's Registration
Statement on Form N-1A in effect at the time of sales, in my opinion the Shares
were legally issued and are fully paid and non-assessable by the Trust.
Sincerely
/s/Charles W. Lutter, Jr.
Charles W. Lutter, Jr.
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