U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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.
1. Name and address of issuer: Lake Forest Funds
One Westminster Place
Lake Forest, Illinois 60045-1821
2. Name of each series or class of funds for which this
notice is filed:
Lake Forest Core Equity Fund.
Lake Forest Money Market Fund.
3. Investment Company Act File Number: 811-8906
Securities Act File Number: 33-87494
4. Last day of fiscal year for which this notice is filed:
February 29, 1996
5. Check box if this notice is being filed more than 180
days after 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:
6. Date of termination of issuer's declaration under rule
24f-2(a)(1), if applicable see instruction a.6): N/A
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
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: 2,515,984 shares - $4,337,056
10. Number and aggregate sale price of securities sold
during the fiscal year in reliance upon registration
pursuant to rule 24f-2: 2,515,984 shares - $4,337,056
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):
N/A
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): $4,337,056
(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): - 1,735,495
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant
to rule 24e-2 (if applicable):
(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): + 2,601,561
(vi)Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see
Instruction C.6): X 1/2900
(vii) Fee due[line (I) or line (v) multiplied by
line (vi)] $ 897.09
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
lock box depository as described in Section 3a of the
Commission's Rules of Informal and Other Procedures (17 CFR
202.3a). X
Date of mailing or wire transfer of filing fees to the
Commission's lock box depository: April 22, 1996
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)* Irving V. Boberski Ph.D.,
President
Date April 29, 1996
*Please print the name and title of the signing officer
below the signature.
April 29, 1996
Lake Forest Funds
One West Minster Place
Lake Forest, Illinois 60045-1821
Gentlemen:
This letter is in response to your request for our
opinion in connection with Form 24F-2 for the Fund
for the fiscal year ended February 29, 1996.
We have examined a copy of (a) the Fund's
Declaration of Trust and amendments thereto, (b)
the Fund's By-Laws and amendments thereto, and
( C)all such agreements, certificates of public
officials, certificates of officers and
representatives of the Fund and others, and such
other documents, papers, statutes and authorities
as we deem necessary to form the basis of the
opinion hereinafter expressed. We have assumed the
genuineness of the signatures and the conformity
to original documents or the copies of such
documents supplied to us as original or photostat
copies.
Based upon the foregoing, we are of the opinion
that the shares of the Fund, the registration of
which the Form makes definite in number, if issued
in accordance with the Prospectus and Statement of
Additional Information of the Fund, were legally
issued, fully paid and non-assessable. This
opinion relates solely to the shares issued during
the fiscal year ended February 29, 1996, and we
express no opinion as to subsequent fiscal years.
We herewith give you our permission to file this
opinion with the Securities and Exchange
Commission as an exhibit to the Form referred to
above.
Very truly yours,
BROWN, CUMMINS & BROWM CO., L.P.A.
BCB/jh
