U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Keystone Global Resources and
Development Fund
200 Berkeley Street
Boston, MA 02116
2. Name of each series or class of funds for which this notice
is filed: Shares of beneficial interest, without par value
Classes A, B and C
3. Investment Company Act File Number: 811-8694
Securities Act File Number: 33-82520
4. Last day of fiscal year for which this notice is filed:
March 31, 1997
5. Check box if this notice is being filed for 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: [ ].
Not applicable
6. Date of termination of issuer's declaration under rule 24f-2(a)(1),
if applicable (see Instruction a.6):
Not applicable
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: -314,074-
8. Number and amount of securities registered during the fiscal
year other than pursuant to rule 24f-2: -0-
9. Number and aggregate sale price of securities sold during
the fiscal year: 808,703
$9,259,628
10. Number and aggregate sale price of securities sold during
the fiscal year in reliance upon registration pursuant to
rule 24f-2: 494,629
$5,663,502
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): -0-
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): $ 5,663,502
(ii) Aggregate price of shares issued
in connection with dividend
reinvestment plans (from Item 11,
if applicable): $ 0
(iii) Aggregate price of shares redeemed
or repurchased during the fiscal
year (if applicable): -$ 7,515,475
(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
(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
(vi) Multiplier prescribed by
Section 6(b) of the Securities
Act of 1933 or other applicable
law or regulation
(see Instruction C.6): x1/3300
(vii) Fee due [line (i) or line (v)
multiplied by line (vi)] $ 0
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.).
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: Not applicable
<PAGE>
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: /s/ John J. Pileggi
(Name) John J. Pileggi
(Title) President
DATE: May 29, 1997
<PAGE>
May 29, 1997
Keystone Global Resources and Development Fund
200 Berkeley Street
Boston, Massachusetts 02116-5034
Re: Notice Pursuant to Rule 24f-2 under the Investment
Company Act of 1940 ("1940 Act")
Gentlemen:
I am Senior Vice President of and General Counsel to Keystone
Investment Management Company, investment adviser to Keystone Global Resources
and Development Fund (the "Fund"). You have asked for my opinion with respect to
the issuance of 494,629 shares of the Fund under the Fund's Declaration of
Trust, as supplemented ("Declaration of Trust"), and pursuant to the Fund's
indefinite registration of such shares pursuant to Rule 24f-2 under the 1940
Act. The Fund is filing its Rule 24f-2 Notice to which this opinion is appended
to make the issuance of such shares definite in number for the fiscal year ended
March 31, 1997.
To my knowledge, a Prospectus is on file with the Securities and
Exchange Commission as part of Post-Effective Amendment No. 3 to the
Registration Statement covering the public offering and sale of the Fund's
shares for the period during which such shares were issued.
In my opinion, such shares, if issued and sold in accordance with the
Declaration of Trust, By-Laws and offering Prospectus, were legally issued,
fully paid, and nonassessable by the Fund, entitling the holders thereof to the
rights set forth in the Declaration of Trust and By-Laws and subject to the
limitations stated therein.
<PAGE>
Keystone Global Resources and Development Fund
May 29, 1997
Page Two
My opinion is based upon my examination of the Declaration of Trust; a
review of the minutes of the Fund's Board of Trustees, signed by the Secretary
of the Fund, authorizing the registration of shares pursuant to Rule 24f-2 under
the 1940 Act and the issuance of such additional shares; and the Fund's
Prospectus. In my examination of such documents, I have assumed the genuineness
of all signatures and the conformity of copies to originals.
I hereby consent to the use of this opinion in connection with the Rule
24f-2 Notice filed by the Fund making definite the number of such additional
shares issued.
Sincerely yours,
/s/ Rosemary D. Van Antwerp
Rosemary D. Van Antwerp
Senior Vice President
and General Counsel
