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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
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1. Name and address of issuer:
THE HIRTLE CALLAGHAN TRUST
3435 STELZER RD.
COLUMBUS, OHIO 43219
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2. Name of each series or class of funds for which this notice is filed:
SEE ATTACHED SCHEDULE A
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3. Investment Company Act File Number: 811-8918
Securities Act File Number: 33-87762
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4. Last day of the fiscal year for which this notice is filed:
JUNE 30, 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 purpose 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:
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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:
NONE
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8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24F-2:
NONE
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9. Number and aggregate sale price of securities sold during the fiscal year:
$237,879,516 Price
20,904,003 Shares
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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:
$237,879,516 Price
20,904,003 Shares
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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:
$14,751,498 Price
1,244,176 Shares
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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: $237,879,516
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(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans: $14,751,498
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(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year: $107,348,431
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(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a reduction to filing
fees pursuant to rule 24F-2: 0
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(v) Net aggregate price of securities sold and issued
during the fiscal year in reliance on rule 24F-2: $145,282,583
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(vi) Multiplier prescribed by Section 6(b) of the
Securities Act of 1933 or other applicable law
or registration: /3300
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(vii) Fee Due: $44,025.03
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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
[X]
Date of mailing or wire transfer of filing fees to the Commission's lockbox
depository:
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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/ Michael Sakala
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Michael Sakala, Vice President & Treasurer
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Date 8/28/97
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* Please print the name and title of the signing officer below the
signature.
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THE HIRTLE CALLAGHAN TRUST- SCHEDULE A
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THE VALUE EQUITY PORTFOLIO
THE GROWTH EQUITY PORTFOLIO
THE SMALL CAPITALIZATION EQUITY PORTFOLIO
THE INTERNATIONAL EQUITY PORTFOLIO
THE LIMITED DURATION MUNICIPAL BOND PORTFOLIO
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STRADLEY, RONON, STEVENS & YOUNG, LLP
2600 One Commerce Square
Philadelphia, Pennsylvania 19103-7098
(215) 564-8000
FAX: (215) 564-8120
Direct Dial:
(215) 564-8101
August 27, 1997
Hirtle Callaghan Trust
575 East Swedesford Road
Wayne, Pennsylvania 19087
Re: Hirtle Callaghan Trust
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Gentlemen:
You have requested our opinion with respect to the shares of beneficial
interest sold by Hirtle Callaghan Trust (the "Fund") during its fiscal year
ended June 30, 1997, in connection with the Notice being filed by the Fund
pursuant to Rule 24f-2 under the Investment Company Act of 1940. You have
represented that a total of 20,904,003 shares were sold by the Fund during said
fiscal year, and all of such shares were sold in reliance upon Rule 24f-2.
Based upon our review of such records, documents, and representations as we
have deemed relevant, it is our opinion that the shares of beneficial interest
of the Fund sold and issued by the Fund during its fiscal year ended June 30,
1997, in reliance upon the registration under the Securities Act of 1933
pursuant to Rule 24f-2 under the Investment Company Act of 1940, as amended were
legally issued, fully paid and non-assessable.
We hereby consent to the filing of this opinion as an exhibit to the "Rule
24f-2 Notice" being filed by the Fund, covering the registration of the said
shares under the Securities Act and the applications and registration
statements, and amendments thereto, filed in accordance with the securities laws
of the various states in which shares of the Fund are offered,
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Hirtle Callaghan Trust
August 27, 1997
Page 2
and we further consent to reference in the Prospectus of the Fund to the fact
that this opinion concerning the legality of the issue has been rendered by us.
Very truly yours,
STRADLEY, RONON, STEVENS & YOUNG
By: /s/ Audrey C. Talley
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Audrey C. Talley
