<PAGE>
1933 Act Registration No. 33-60515
1940 Act Registration No. 811-07279
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 6, 1996
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
(Registration No. 33-60515)
Pre-Effective Amendment No.
---
Post-Effective Amendment No. 3
---
AND/OR
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940
(Registration No. 811-07279)
Amendment No. 4
---
(Check appropriate box or boxes)
PIPER FUNDS INC. -- II
----------------------
(Exact Name of Registrant as Specified in Charter)
Piper Jaffray Tower, 222 South 9th Street, Minneapolis, MN 55402
----------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (6l2) 342-6384
--------------
Paul A. Dow
Piper Capital Management Incorporated
Piper Jaffray Tower
222 South 9th Street, Minneapolis, Minnesota 55402
--------------------------------------------------
(Name and Address of Agent for Service)
Copy to:
Kathleen L. Prudhomme
Dorsey & Whitney LLP
220 South Sixth Street
Minneapolis, Minnesota 55402
X immediately upon filing pursuant to paragraph (b) of rule 485
- ---
on (specify date) pursuant to paragraph (b) of rule 485
- ---
75 days after filing pursuant to paragraph (a) of rule 485, unless
effectiveness is accelerated by the staff of the Securities and Exchange
Commission
- ---
on (specify date) pursuant to paragraph (a) of rule 485
- ---
The Registrant has registered an indefinite number of its common shares
pursuant to Regulation 270.24f-2 under the Investment Company Act of 1940. A
Rule 24f-2 Notice for the fiscal year ended August 31, 1996 was filed on or
about October 24, 1996 and a Rule 24f-2 Notice for the fiscal period ended
September 30, 1996 wil be filed no later than November 30, 1996.
<PAGE>
PIPER FUNDS INC. -- II
Registration Statement on Form N-1A
------------------------------
CROSS REFERENCE SHEET
Pursuant to Rule 481(a)
------------------------------
Item No. Prospectus Heading
-------- ------------------
1. Cover Page. . . . . . . . . . Cover Page
2. Synopsis. . . . . . . . . . . Introduction; Fund Expenses
3. Financial Highlights. . . . . Financial Highlights
4. General Description of
Registrant. . . . . . . . . Introduction; Investment Objectives and
Policies
5. Management of the Fund. . . . Management
6. Capital Stock and Other
Securities. . . . . . . . . General Information; Introduction;
Dividends and Distributions; Tax Status
7. Purchase of Securities
Being Offered . . . . . . . Distribution of Fund Shares; How to
Purchase Shares; Reducing Your Sales
Charge; Special Purchase Plans; Valuation
of Shares; Shareholder Services
8. Redemption or Repurchase. . . How to Redeem Shares; Shareholder Services
9. Pending Legal Proceedings . . General Information
Statement of Additional Information Heading
-------------------------------------------
10. Cover Page. . . . . . . . . . Cover Page
11. Table of Contents . . . . . . Cover Page
12. General Information
and History . . . . . . . . General Information; Pending Litigation
13. Investment Objectives
and Policies. . . . . . . . Investment Policies and Restrictions
14. Management of the Fund. . . . Directors and Executive Officers
<PAGE>
15. Control Persons and Principal
Holders of Securities . . . Capital Stock and Ownership of Shares
16. Investment Advisory and
Other Services. . . . . . . Investment Advisory and Other Services
17. Brokerage Allocation. . . . . Portfolio Transactions and Allocation of
Brokerage
18. Capital Stock and Other
Securities. . . . . . . . . Capital Stock and Ownership of Shares
19. Purchase, Redemption and
Pricing of Securities
Being Purchased . . . . . . Net Asset Value and Public Offering Price;
Performance Comparisons; Purchase of
Shares; Redemption of Shares
20. Tax Status. . . . . . . . . . Taxation
21. Underwriters. . . . . . . . . Investment Advisory and Other Services;
Portfolio Transactions and Allocation of
Brokerage
22. Calculations of
Performance Data. . . . . . Performance Comparisons
23. Financial Statements. . . . . Financial Statements
<PAGE>
Incorporation by Reference
and
Explanatory Note
Part A (Prospectus), Part B (Statement of Additional Information) and Part
C (Other Information) of this Registration Statement are hereby incorporated by
reference from Post-Effective Amendment No. 30 to the Registration Statement of
Piper Funds Inc. (File Nos. 33-10261 and 811-4905) filed on November 6, 1996.
Such Part A and Part B and Part C combines two Registrants: one series of Piper
Funds Inc.--II and two series of Piper Funds Inc.
This Registration Statement contains only those exhibits which relate to
Piper Funds Inc.--II.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant certifies that it meets all of
the requirements for effectiveness of this Post-Effective Amendment to its
Registration Statement on Form N-1A pursuant to Rule 485(b) under the Securities
Act of 1933 and has duly caused this Registration Statement on Form N-1A to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Minneapolis and State of Minnesota on the 5th day of November 1996.
PIPER FUNDS INC. -- II
(Registrant)
By /s/ Paul A. Dow
---------------------------
Paul A. Dow
President
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated:
/s/ Paul A. Dow President (principal November 5, 1996
- ------------------------- executive officer)
Paul A. Dow
/s/ Robert H. Nelson Treasurer (principal November 5, 1996
- ------------------------- financial and
Robert H. Nelson accounting officer)
David T. Bennett* Director
Jaye F. Dyer* Director
William H. Ellis* Director
Karol D. Emmerich* Director
Luella G. Goldberg* Director
- ------------------------- Director
David A. Hughey
George Latimer* Director
*By /s/ William H. Ellis November 5, 1996
---------------------
William H. Ellis, Attorney-in-Fact
<PAGE>
EXHIBIT INDEX
TO
REGISTRATION STATEMENT
OF
PIPER FUNDS INC. -- II
Exhibit Page No.
- ------- --------
11 Consent of KPMG Peat Marwick LLP
<PAGE>
Exhibit 11
[LETTERHEAD]
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Piper Funds Inc.-II:
We consent to the use of our report dated October 18, 1996 incorporated by
reference herein and to the references to our Firm under the headings
"FINANCIAL HIGHLIGHTS" in Part A and "FINANCIAL STATEMENTS" in Part B of the
Registration Statement.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
November 1, 1996
