May 7,
1997
VIA EDGAR
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC 20549
Attention: Office of Filings, Information & Consumer
Services
Re: Panorama Trust (the "Trust")
File Nos. 811-9050/33-92712
Dear Sir or Madam:
Pursuant to Rule 497(j) under the Securities Act of
1933, as amended, please accept this letter as
certification that the prospectuses and statements of
additional information for Pictet Global Emerging
Markets Fund and Pictet International Small Companies
Fund, series of the above-referenced Trust, do not
differ from that contained in Post-Effective
Amendment No. 7 to the Trust's Registration Statement
on Form N-1A which was filed on April 29, 1997.
Any comments on this filing should be directed to the
undersigned at (617) 573-1557.
Please return an electronic transmittal as
evidence of your receipt of this filing.
Very truly
yours,
/s/ Gail A.
Hanson
Gail A. Hanson
Counsel
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