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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 9
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SIGNATURE SHEILA TWIBLE
TITLE ASST. VICE-PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001002948
<NAME> WM PRIME INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> SEP-30-1997
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 7,515,686
<INVESTMENTS-AT-VALUE> 7,516,065
<RECEIVABLES> 19,370
<ASSETS-OTHER> 160,242
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<OTHER-ITEMS-LIABILITIES> 88,278
<TOTAL-LIABILITIES> 88,278
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,601,188
<SHARES-COMMON-STOCK> 760,636
<SHARES-COMMON-PRIOR> 842,216
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</TABLE>
[DESCRIPTION]
WM Prime Income Fund
Proxy Voting Results
At the special meeting of the shareholders of the Fund held on December
23,1997, the following proposals were approved by shareholders:
Proposal 1 To elect a Board of Trustees consisting of thirteen Trustees.
Nominee For Withheld
David E. Anderson 405,130.286 19,277.829
Wayne L. Attwood, M.D. 405,125.900 19,282.215
Arthur H. Bernstein, Esq. 405,130.286 19,277.829
Kristianne Blake 405,125.900 19,282.215
Edmond R. Davis, Esq. 405,130.286 19,277.829
John W. English 405,130.286 19,277.829
Anne V. Farrell 405,125.900 19,282.215
Michael K. Murphy 405,125.900 19,282.215
Alfred E. Osborne, Jr., Ph.D. 405,130.286 19,277.829
William G. Papesh 405,125.900 19,282.215
Daniel L. Pavelich 405,125.900 19,282.215
Jay Rockey 405,125.900 19,282.215
Richard C. Yancey 405,125.900 19,282.215
Proposal 2 To approve a new Investment Management Agreement between
the Fund and WM Advisors (formerly Composite Research & Management Co.)
For 380,915.097
Against 8,904.767
Abstain 34,588.251
Proposal 3 To approve a New Investment Sub-Advisory Agreement for the
Fund between WM Advisors and Van Kampen American Capital Management Inc.
For 369,679.397
Against 11,027.784
Abstain 43,700.934
