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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24f-2
READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
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1. Name and address of issuer:
Norwest Select Funds
Two Portland Square
Portland, ME 04101
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2. Name of each series or class of funds for which this notice is filed:
Intermediate Bond Fund
ValuGrowth Stock Fund
Small Company Stock Fund
Income Equity Fund
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3. Investment Company Act File Number: 811-8202
Securities Act File Number: 33-74176
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4. Last day of fiscal year for which this notice is filed:
December 31, 1996
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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:
[ ]
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6. Date of termination of issuer's declaration under Rule 24f-2(a)(1), if
applicable (see Instruction A.6):
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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:
Zero (0)
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8. Number and amount of securities registered during the fiscal year other
than pursuant to Rule 24f-2:
Zero (0)
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9. Number and aggregate sale price of securities sold during fiscal year*:
Shares Dollars
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Intermediate Bond Fund 338,906 $3,693,899
ValuGrowth Stock Fund 368,877 4,825,227
Small Company Stock Fund 279,693 3,587,873
Income Equity Fund 872,352 9,011,782
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TOTAL 1,859,828 $21,118,781
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10. Number and aggregate sale price of securities sold during the fiscal year
in reliance upon registration pursuant to Rule 24f-2:
Zero (0)
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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):
Zero (0)
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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): $ 0*
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(ii) Aggregate price of shares issued in
connection with dividend reinvestment plans
(from Item 11, if applicable): + N/A
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(iii) Aggregate price of shares redeemed or
repurchased during the fiscal year (if
applicable): - N/A
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(iv) Aggregate price of shares redeemed or
repurchased and previously applied as a
reduction to filing fees pursuant to Rule
24e-2 (if applicable): + N/A
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(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): 0
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(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
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(vii) Fee due [line (i) or line (v) multiplied
by line (vi)]: $ 0*
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*DURING THE FISCAL PERIOD COVERED HEREBY,
THE REGISTRANT OFFERED ITS SHARES SOLELY TO
UNMANAGED SEPARATE ACCOUNTS OF A SINGLE
INSURANCE COMPANY. A REGISTRATION FEE HAS
BEEN OR WILL BE PAID ON THE SECURITIES
ISSUED BY THE SEPARATE ACCOUNTS WHICH ARE
ALREADY REGISTERED UNDER THE SECURITIES ACT
OF 1933. ACCORDINGLY, NO REGISTRATION FEE
IS DUE IN CONNECTION WITH THIS FILING.
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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.
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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 (17 CFR 202.3a).
[ ]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
N/A
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SIGNATURES
This report has been signed by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Thomas G. Sheehan, Vice President and
Assistant Secretary
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Thomas G. Sheehan, Vice President and
Assistant Secretary
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Date February 26, 1997
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* Please print the name and title of the signing officer below the signature.
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Securities and Exchange Commission
Washington, D.C. 20549
RULE 24f-2 NOTICE
NORWEST SELECT FUNDS
Two Portland Square
Portland, ME 04101
SIGNATURE
Pursuant to the requirements of Rule 24f-2 under the Investment Company Act
of 1940, Norwest Select Funds has duly caused this Rule 24f-2 Notice to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Portland, and State of Maine, on this 14th day of February, 1997.
Norwest Select Funds
By: /s/ John Y. Keffer
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John Y. Keffer
President
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[Logo]
Seward & Kissel, 1200 G Street, N.W., Washington, D.C. 20005 Telephone
(202) 737-8833 Facsimile (202) 737-5184
February 25, 1997
Norwest Select Funds
Two Portland Square
Portland, Maine 04101
Dear Sir or Madam:
We have acted as counsel for Norwest Select Funds, a Delaware business
trust (the "Trust"), in connection with the Trust's Rule 24f-2 Notice to be
filed pursuant to Rule 24f-2 (the "Rule") under the Investment Company Act of
1940, as amended (the "Act"), to report the shares of beneficial
interest of the Trust, sold during the Trust's fiscal year ended December
31, 1996 in reliance upon the Rule pursuant to the indefinite registration of
such beneficial interest under the Securities Act of 1933, as amended (the
"1933 Act").
As counsel for the Trust, we have examined and relied upon such records of
the Trust and other documents and certificates as to factual matters as we have
deemed to be necessary to render the opinion expressed herein.
Based on such examination, we are of the opinion that the 1,859,828 shares
of beneficial interest of the Trust sold during the Trust's fiscal year ended
December 31, 1996 in compliance with the terms of the registration statement
of the Trust filed pursuant to the Act and the 1933 Act were duly authorized
and legally issued and, upon their issuance, were fully paid and
non-assessable shares of beneficial interest of the Trust under the
laws of the State of Delaware.
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Norwest Select Funds 2 February 25, 1997
Our opinion above stated is expressed as members of the bars of the
District of Columbia and the State of New York.
We hereby consent to the filing of this opinion with the Securities and
Exchange Commission as an exhibit to the Trust's Rule 24f-2 Notice.
Very truly yours,
/s/ Seward & Kissel
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