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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: Excelsior Institutional Trust
73 Tremont Street
Boston, Massachusetts 02108
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2. Name of each series or class of funds for which this notice is filed:
SEE SCHEDULE "A"
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3. Investment Company Act File Number: 811-8490
Securities Act File Number: 33-78264
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4. Last day of fiscal year for which this notice is filed:
May 31, 1997
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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):
N/A
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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:
0
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8. Number and amount of securities registered during the fiscal year other than
pursuant to rule 24f-2:
0
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9. Number and aggregate sale price of securities sold during the fiscal year:
SEE SCHEDULE "B"
SHARES: 2,897,019 PRICE: $14,813,477
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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:
SEE SCHEDULE "B"
SHARES: 2,897,019 PRICE: $14,813,477
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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):
SEE SCHEDULE "C"
SHARES: 11,228 PRICE: $28,018
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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): $ 14,813,477
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(ii) Aggregate price of shares issued in connection
with dividend reinvestment plans (from Item 11,
if applicable) + 28,018
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(iii) Aggregate price of shares redeemed or
repurchased during the fiscal year (if
applicable) SEE SCHEDULE "D": - 14,841,495
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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): + 0
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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 .0003030303
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(vii) Fee due [line (I) or line (v) multiplied by
line (vi)]: $0.00
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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 below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ John M. Corcoran, Assistant Treasurer
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John M. Corcoran Assistant Treasurer
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Date 7/25/97
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*Please print the name and title of the signing officer
below the signature.
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SCHEDULE "A"
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Name of each series or class of funds for which this notice is filed:
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EXCELSIOR INSTITUTIONAL EQUITY GROWTH - CLASS A*
EXCELSIOR INSTITUTIONAL BOND INDEX - CLASS A
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* The Excelsior Institutional Equity Growth Fund ceased operations on May 30,
1997.
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SCHEDULE "B"
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NUMBER AND AGGREGATE SALE PRICE OF SECURITIES SOLD DURING THE FISCAL YEAR:
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<TABLE>
<CAPTION>
CLASS A: Shares: Price:
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<S> <C> <C>
Equity Growth 1,995,440 $ 8,536,197
Bond Index 901,579 $ 6,277,280
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Total 2,897,019 $ 14,813,477
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</TABLE>
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SCHEDULE "B"
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(continued)
NUMBER AND AGGREGATE SALE PRICE OF SECURITIES SOLD DURING THE FISCAL YEAR IN
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RELIANCE UPON REGISTRATION PURSUANT TO RULE 24F-2:
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<TABLE>
<CAPTION>
CLASS A: Shares: Price:
------- ------
<S> <C> <C>
Equity Growth 1,995,440 $ 8,536,197
Bond Index 901,579 $ 6,277,280
------- ---------
Total 2,897,019 $ 14,813,477
========= ==========
</TABLE>
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SCHEDULE "C"
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NUMBER AND AGGREGATE SALE PRICE OF SECURITIES ISSUED DURING THE FISCAL YEAR IN
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CONNECTION WITH DIVIDEND REINVESTMENT PLANS, IF APPLICABLE:
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<TABLE>
<CAPTION>
CLASS A: Shares: Price:
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<S> <C> <C>
Equity Growth 11,007 $ 26,467
Bond Index 221 $ 1,551
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Total 11,228 $ 28,018
====== ======
</TABLE>
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SCHEDULE "D"
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AGGREGATE PRICE OF SHARES REDEEMED OR REPURCHASED DURING THE FISCAL YEAR, IF
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APPLICABLE:
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<TABLE>
<CAPTION>
CLASS A: Shares: Price:
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<S> <C>
Equity Growth 5,594,269 $ 32,223,742
Bond Index 899,375 $ 6,303,926
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Total 6,493,644 $ 38,527,668*
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</TABLE>
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* The Equity Growth and Bond Index Funds had Net Redemptions in the amount of
$23,686,173 (38,527,668 - 14,841,495) during the fiscal year ended May 31, 1997.
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DRINKER BIDDLE & REATH LLP
Philadelphia National Bank Building
1345 Chestnut Street
Philadelphia, PA 19107-3496
July 25, 1997
Excelsior Institutional Trust
73 Tremont Street
Boston, MA 02108-3913
Re: Form 24F-2 for Excelsior Institutional Trust;
Registration No. 33-78264
---------------------------------------------
Ladies and Gentlemen
We have acted as counsel for Excelsior Institutional Trust, a Delaware
business trust (the "Trust"), in connection with the registration under the
Securities Act of 1933, as amended, of units of beneficial interest
(collectively, the "Shares") in its Institutional Bond Index Fund and
Institutional Equity Growth Fund, made definite in number by the Form 24F-2
which this opinion accompanies. The Trust is authorized to issue an unlimited
number of units of beneficial interest of each of the aforesaid Funds.
We have reviewed the Trust's Trust Instrument, its By-Laws, resolutions
adopted by its Board of Trustees and shareholders, certificates as to certain
matters and such other legal and factual matters as we have deemed appropriate.
This opinion is based exclusively on the Delaware Business Trust Act and
the Federal law of the United States of America.
Based on the foregoing, we are of the opinion that the Shares were, when
issued against payment therefor as described in the Trust's prospectuses
pertaining to the Shares, legally issued, fully paid and non-assessable by the
Trust, and that the holders of the Shares are entitled to the same limitation of
personal liability extended to stockholders of private corporations for profit
organized under the general corporation law of the State of Delaware (except
that we express no opinion as to such holders who are also trustees of the
Trust).
We hereby consent to the filing of this opinion with the Securities and
Exchange Commission as part of the Trust's Form 24F-2.
Very truly yours,
/s/ DRINKER BIDDLE & REATH LLP
DRINKER BIDDLE & REATH LLP
