<PAGE> PAGE 1
000 A000000 06/30/97
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001 A000000 GUINNESS FLIGHT INVESTMENT FUNDS
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001 C000000 8187950039
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008 B00AA01 A
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010 A00AA01 INVESTMENT COMPANY ADMINISTRATION CORPORATION
010 C01AA01 GLENDORA
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011 A00AA01 FIRST FUND DISTRIBUTORS, INC.
<PAGE> PAGE 2
011 B00AA01 8-42809
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012 A00AA01 BOSTON FINANCIAL DATA SERVICES
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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SIGNATURE ERIC M. BANHAZL
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000919160
<NAME> GUINNESS FLIGHT INVESTMENTS FUNDS
<SERIES>
<NUMBER> 1
<NAME> GUINNESS FLIGHT CHINA & HONG KONG FUND
<MULTIPLIER> 1
<CURRENCY> US DOLLAR
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1997
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<PERIOD-END> JUN-30-1997
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<OTHER-ITEMS-LIABILITIES> 505,573
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<ACCUMULATED-NII-CURRENT> 0
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<NAME> GUINNESS FLIGHT INVESTMENT FUNDS
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GUINNESS FLIGHT INVESTMENT FUNDS, INC.
Guinness Flight Asia Blue Chip Fund
Special Meeting of Shareholders
225 South Lake Avenue
Pasadena, California
April 25, 1997
11:00 A.M. (Pacific Time)
REPORT OF INSPECTOR OF ELECTION AND BALLOTS
To the Secretary of the Special Meeting
of Shareholders of Guinness Flight Asia Blue Chip Fund
I, the undersigned Inspector of Election and Ballots,
having been duly qualified, do hereby certify that at the Special
Meeting of Shareholders of Guinness Flight Asia Blue Chip Fund
(the "Fund") of the Guinness Flight Investment Funds, Inc. held at
225 South Lake Avenue, Pasadena, California on Tuesday, April 25, 1997
at 11:00 A.M. (Pacific Time), (i) the following resolutions were
duly offered for vote by ballot respectively, by shareholders of the Fund:
1. RESOLVED, that the investment advisory agreement
between the company, on behalf of the Fund, and Guinness Flight
Investment Management Limited be and hereby is approved.
2. RESOLVED, that the conversion of the Company to
a Delaware business trust be and hereby is approved; and
FURTHER RESOLVED, that the Agreement and Plan
of Conversion and Termination (the "Plan") between the Company and
Guinness Flight Investment Funds, a Delaware business trust (the "Trust"),
in the form contained in Exhibit B to the Company's proxy statement
relating to this meeting, and the transactions contemplated by the Plan
(the "Conversion"), including, but not limited to, the transfer of all of
the assets of the Company to the Trust, be and hereby is, authorized
and approved.
(ii) that of the 444,983.500 shares of common stock (the "Shares") of the
Fund outstanding as of the record date for the Special Meeting and
298,952.390 Shares of the Fund represented at the Special Meeting
in person or by proxy:
274,316.960 Shares were voted in favor of the resolution designated
as 1. above, 7,220.086 Shares against it, 17,415.344 Shares abstained
and 0 Shares were not voted, and that said resolution was adopted with
respect to the Fund, having received the affirmative vote of the holders
of more than a majority of the Fund's Shares outstanding as of the
record date;
238,842.470 Shares were voted in favor of the resolution designated
as 2. above, 5,781.504 Shares against it, 17,970.416 Shares abstained and
36,358 Shares were not voted, and that said resolution was adopted with
respect to the Fund, having received the affirmative vote of the holders
of more than a majority of the Fund's Shares outstanding as of the
record date.
IN TESTIMONY WHEREOF, I have hereunto set my
hand this 25th day of April, 1997
/S/Rita Dam
Rita Dam
Subscribed and sworn to
before me this 25th day
of April, 1997.
/S/ Winnie Lam
Notary Public GUINNESS FLIGHT INVESTMENT FUNDS, INC.
Guinness Flight Asia Small Cap Fund
Special Meeting of Shareholders
225 South Lake Avenue
Pasadena, California
April 25, 1997
11:00 A.M. (Pacific Time)
REPORT OF INSPECTOR OF ELECTION AND BALLOTS
To the Secretary of the Special Meeting
of Shareholders of Guinness Flight Asia Small Cap Fund
I, the undersigned Inspector of Election and Ballots,
having been duly qualified, do hereby certify that at the Special
Meeting of Shareholders of Guinness Flight Asia Small Cap Fund
(the "Fund") of the Guinness Flight Investment Funds, Inc. held at
225 South Lake Avenue, Pasadena, California on Tuesday, April 25, 1997
at 11:00 A.M. (Pacific Time), (i) the following resolutions were duly
offered for vote by ballot respectively, by shareholders of the Fund:
1. RESOLVED, that the investment advisory agreement between
the company, on behalf of the Fund, and Guinness Flight Investment
Management Limited be and hereby is approved.
2. RESOLVED, that the conversion of the Company to a
Delaware business trust be and hereby is approved; and
FURTHER RESOLVED, that the Agreement and Plan of
Conversion and Termination (the "Plan") between the Company and
Guinness Flight Investment Funds, a Delaware business trust (the "Trust"),
in the form contained in Exhibit B to the Company's proxy statement relating
to this meeting, and the transactions contemplated by the Plan (the
"Conversion"), including, but not limited to, the transfer of all of the
assets of the Company to the Trust, be and hereby is, authorized and approved.
(ii) that of the 10,602,161.935 shares of common stock (the "Shares") of the
Fund outstanding as of the record date for the Special Meeting and
6,929,247.152 Shares of the Fund represented at the Special Meeting in
person or by proxy:
6,458,307.262 Shares were voted in favor of the resolution
designated as 1. above, 106,281.719 Shares against it, 364,658.171
Shares abstained and 0 Shares were not voted, and that said resolution
was adopted with respect to the Fund, having received the affirmative
vote of the holders of more than a majority of the Fund's Shares outstanding
as of the record date;
5,449,638.388 Shares were voted in favor of the resolution designated
as 2. above, 107,062.363 Shares against it, 366,197.401 Shares abstained
and 1,006,349 Shares were not voted, and that said resolution was adopted
with respect to the Fund, having received the affirmative vote of the holders
of more than a majority of the Fund's Shares outstanding as of the record date.
IN TESTIMONY WHEREOF, I have hereunto set my hand
this 25th day of April, 1997
/S/ Rita Dam
Rita Dam
Subscribed and sworn to
before me this 25th day
of April, 1997.
/S/ Winnie Lam
Notary Public
GUINNESS FLIGHT INVESTMENT FUNDS, INC.
Guinness Flight China & Hong Kong Fund
Special Meeting of Shareholders
225 South Lake Avenue
Pasadena, California
April 25, 1997
11:00 A.M. (Pacific Time)
REPORT OF INSPECTOR OF ELECTION AND BALLOTS
To the Secretary of the Special Meeting
of Shareholders of Guinness Flight China & Hong Kong Fund
I, the undersigned Inspector of Election and Ballots, having
been duly qualified, do hereby certify that at the Special Meeting of
Shareholders of Guinness Flight China & Hong Kong Fund (the "Fund")
of the Guinness Flight Investment Funds, Inc. held at 225 South Lake
Avenue, Pasadena, California on Tuesday, April 25, 1997 at 11:00 A.M.
(Pacific Time), (i) the following resolutions were duly offered for vote
by ballot respectively, by shareholders of the Fund:
1. RESOLVED, that the investment advisory agreement between
the company, on behalf of the Fund, and Guinness Flight Investment
Management Limited be and hereby is approved.
2. RESOLVED, that the conversion of the Company to a
Delaware business trust be and hereby is approved; and
FURTHER RESOLVED, that the Agreement and Plan of
Conversion and Termination (the "Plan") between the Company and Guinness
Flight Investment Funds, a Delaware business trust (the "Trust"), in the
form contained in Exhibit B to the Company's proxy statement relating to
this meeting, and the transactions contemplated by the Plan (the "Conversion"),
including, but not limited to, the transfer of all of the assets of the
Company to the Trust, be and hereby is, authorized and approved.
(ii) that of the 15,567,224.191 shares of common stock (the "Shares") of
the Fund outstanding as of the record date for the Special Meeting and
10,024,685.251 Shares of the Fund represented at the Special Meeting in
person or by proxy:
9,271,959.494 Shares were voted in favor of the resolution
designated as 1. above, 214,889.967 Shares against it, 537,835.790
Shares abstained and 0 Shares were not voted, and that said resolution
was adopted with respect to the Fund, having received the affirmative
vote of the holders of more than a majority of the Fund's Shares outstanding
as of the record date;
7,880,946.335 Shares were voted in favor of the resolution designated
as 2. above, 186,486.780 Shares against it, 485,127.136 Shares abstained
and 1,472,125.004 Shares were not voted, and that said resolution was
adopted with respect to the Fund, having received the affirmative vote
of the holders of more than a majority of the Fund's Shares outstanding
as of the record date.
IN TESTIMONY WHEREOF, I have hereunto set my hand
this 25th day of April, 1997
/S/ Rita Dam
Rita Dam
Subscribed and sworn to
before me this 25th day
of April, 1997.
/S/ Winnie Lam
Notary Public
GUINNESS FLIGHT INVESTMENT FUNDS, INC.
Guinness Flight Global Government Bond Fund
Special Meeting of Shareholders
225 South Lake Avenue
Pasadena, California
April 25, 1997
11:00 A.M. (Pacific Time)
REPORT OF INSPECTOR OF ELECTION AND BALLOTS
To the Secretary of the Special Meeting
of Shareholders of Guinness Flight Global Government Bond Fund
I, the undersigned Inspector of Election and Ballots,
having been duly qualified, do hereby certify that at the Special Meeting
of Shareholders of Guinness Flight Global Government Bond Fund
(the "Fund") of the Guinness Flight Investment Funds, Inc. held at
225 South Lake Avenue, Pasadena, California on Tuesday, April 25, 1997
at 11:00 A.M. (Pacific Time), (i) the following resolutions were duly
offered for vote by ballot respectively, by shareholders of the Fund:
1. RESOLVED, that the investment advisory agreement between
the company, on behalf of the Fund, and Guinness Flight Investment
Management Limited be and hereby is approved.
2. RESOLVED, that the conversion of the Company to a
Delaware business trust be and hereby is approved; and
FURTHER RESOLVED, that the Agreement and Plan of
Conversion and Termination (the "Plan") between the Company and Guinness
Flight Investment Funds, a Delaware business trust (the "Trust"), in the
form contained in Exhibit B to the Company's proxy statement relating to
this meeting, and the transactions contemplated by the Plan (the "Conversion"),
including, but not limited to, the transfer of all of the assets of the Company
to the Trust, be and hereby is, authorized and approved.
(ii) that of the 560,540.266 shares of common stock (the "Shares") of the
Fund outstanding as of the record date for the Special Meeting and 464,524.287
Shares of the Fund represented at the Special Meeting in person or by proxy:
416,050.906 Shares were voted in favor of the resolution designated
as 1. above, 9,861.043 Shares against it, 38,612.338 Shares abstained and
0 Shares were not voted, and that said resolution was adopted with respect to
the Fund, having received the affirmative vote of the holders of more than a
majority of the Fund's Shares outstanding as of the record date;
391,611.128 Shares were voted in favor of the resolution designated
as 2. above, 8,296.920 Shares against it, 55,125.239 Shares abstained and
9,491 Shares were not voted, and that said resolution was adopted with
respect to the Fund, having received the affirmative vote of the holders of
more than a majority of the Fund's Shares outstanding as of the record date.
IN TESTIMONY WHEREOF, I have hereunto set my hand
this 25th day of April, 1997
/S/ Rita Dam
Rita Dam
Subscribed and sworn to
before me this 25th day
of April, 1997.
/S/ Winnie Lam
Notary Public
