<PAGE> PAGE 1
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002 A000000 909 MONTGOMERY STREET
002 B000000 SAN FRANCISCO
002 C000000 CA
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003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C020100 SENECA GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 SENECA MID-CAP "EDGE" FUND
007 C030200 N
007 C010300 3
007 C020300 SENECA BOND FUND
007 C030300 N
007 C010400 4
007 C020400 SENECA REAL ESTATE SECURITIES FUND
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010 A00AA02 STATE STREET BANK AND TRUST COMPANY
010 C01AA02 NORTH QUINCY
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011 A00AA01 GENESIS MERCHANT GROUP SECURITIES, LLC
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<PAGE> PAGE 2
011 C01AA01 SAN FRANCISCO
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011 A00AA02 SENECA DISTRIBUTORS LLC
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011 C01AA02 SAN FRANCISCO
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012 A00AA01 INVESTOR FIDUCIARY TRUST COMPANY
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012 C02AA01 MO
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<PAGE> PAGE 3
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015 E04AA09 X
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015 A00AA15 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
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<PAGE> PAGE 4
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015 C01AA18 HELSINKI
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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025 A000301 DONALDSON, LUFKIN & JENRETTE
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<PAGE> PAGE 20
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<PAGE> PAGE 21
061 000300 1000
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064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
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070 D020300 N
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070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
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070 J020300 Y
070 K010300 Y
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<PAGE> PAGE 22
070 L020300 Y
070 M010300 Y
070 M020300 Y
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
062 B000400 0.0
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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SIGNATURE BILL BESTON
TITLE ASST. VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001005020
<NAME> SENECA GRWOTH FUND
<SERIES>
<NUMBER> 001
<NAME> SENECA GROWTH FUND
<S> <C> <C>
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<EXPENSES-NET> (251,139) (251,139)
<NET-INVESTMENT-INCOME> (3,399) (3,399)
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001005020
<NAME> SENECA MID-CAP "EDGE" FUND
<SERIES>
<NUMBER> 002
<NAME> SENECA MID-CAP "EDGE" FUND
<S> <C> <C>
<PERIOD-TYPE> 6-MOS 6-MOS
<FISCAL-YEAR-END> SEP-30-1998 SEP-30-1998
<PERIOD-START> OCT-01-1997 OCT-01-1997
<PERIOD-END> MAR-31-1998 MAR-31-1998
<INVESTMENTS-AT-COST> 10,354,264 10,354,264
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<TOTAL-ASSETS> 13,448,359 13,448,359
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<OTHER-ITEMS-LIABILITIES> 53,192 53,192
<TOTAL-LIABILITIES> 467,851 467,851
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 10,083,682 10,083,682
<SHARES-COMMON-STOCK> 188,037 594,357
<SHARES-COMMON-PRIOR> 146,739 570,101
<ACCUMULATED-NII-CURRENT> (103,121) (103,121)
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<ACCUMULATED-NET-GAINS> 106,627 106,627
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 2,893,320 2,893,320
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<DIVIDEND-INCOME> 16,999 16,999
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<OTHER-INCOME> 0 0
<EXPENSES-NET> (129,991) (129,991)
<NET-INVESTMENT-INCOME> (103,121) (103,121)
<REALIZED-GAINS-CURRENT> 259,551 259,551
<APPREC-INCREASE-CURRENT> 1,505,929 1,505,929
<NET-CHANGE-FROM-OPS> 1,662,359 1,662,359
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> 0 0
<DISTRIBUTIONS-OF-GAINS> (289,481) (1,091,863)
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<NUMBER-OF-SHARES-SOLD> 45,435 52,697
<NUMBER-OF-SHARES-REDEEMED> (26,210) (112,483)
<SHARES-REINVESTED> 22,073 84,042
<NET-CHANGE-IN-ASSETS> 1,170,809 1,170,809
<ACCUMULATED-NII-PRIOR> 0 0
<ACCUMULATED-GAINS-PRIOR> 1,228,420 1,228,420
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<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 46,609 46,609
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 138,860 138,860
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<PER-SHARE-NAV-BEGIN> 16.49 16.47
<PER-SHARE-NII> (0.15) (0.13)
<PER-SHARE-GAIN-APPREC> 2.07 2.11
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<PER-SHARE-DISTRIBUTIONS> (1.85) (1.85)
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<PER-SHARE-NAV-END> 16.56 16.60
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001005020
<NAME> SENECA BOND FUND
<SERIES>
<NUMBER> 003
<NAME> SENECA BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> MAR-31-1998
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<INVESTMENTS-AT-VALUE> 8,815,984
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<TOTAL-ASSETS> 9,004,712
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<TOTAL-LIABILITIES> 86,225
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,386,860
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<SHARES-COMMON-PRIOR> 852,565
<ACCUMULATED-NII-CURRENT> (2,720)
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<ACCUMULATED-NET-GAINS> 63,199
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 471,148
<NET-ASSETS> 8,918,487
<DIVIDEND-INCOME> 4,392
<INTEREST-INCOME> 349,133
<OTHER-INCOME> 0
<EXPENSES-NET> (84,435)
<NET-INVESTMENT-INCOME> 269,090
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (276,263)
<DISTRIBUTIONS-OF-GAINS> (110,456)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 97,386
<NUMBER-OF-SHARES-REDEEMED> (145,324)
<SHARES-REINVESTED> 30,776
<NET-CHANGE-IN-ASSETS> (3,674)
<ACCUMULATED-NII-PRIOR> 4,453
<ACCUMULATED-GAINS-PRIOR> 109,507
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<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 95,911
<AVERAGE-NET-ASSETS> 9,153,081
<PER-SHARE-NAV-BEGIN> 10.47
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> 0.33
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> (0.12)
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<PER-SHARE-NAV-END> 10.68
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001005020
<NAME> SENECA REAL ESTATE SECURITIES FUND
<SERIES>
<NUMBER> 004
<NAME> SENECA REAL ESTATE SECURITIES FUND
<S> <C> <C>
<PERIOD-TYPE> 6-MOS 6-MOS
<FISCAL-YEAR-END> SEP-30-1998 SEP-30-1998
<PERIOD-START> OCT-01-1997 OCT-01-1997
<PERIOD-END> MAR-31-1998 MAR-31-1998
<INVESTMENTS-AT-COST> 26,748,180 26,748,180
<INVESTMENTS-AT-VALUE> 29,580,842 29,580,842
<RECEIVABLES> 172,631 172,631
<ASSETS-OTHER> 34,441 34,441
<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 29,787,914 29,787,914
<PAYABLE-FOR-SECURITIES> 72,620 72,620
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 301,506 301,506
<TOTAL-LIABILITIES> 374,126 374,126
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 26,553,158 26,553,158
<SHARES-COMMON-STOCK> 188,445 1,965,342
<SHARES-COMMON-PRIOR> 216,409 1,915,934
<ACCUMULATED-NII-CURRENT> (30,882) (30,882)
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> 58,850 58,850
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 2,832,662 2,832,662
<NET-ASSETS> 29,413,788 29,413,788
<DIVIDEND-INCOME> 589,172 589,172
<INTEREST-INCOME> 12,499 12,499
<OTHER-INCOME> 0 0
<EXPENSES-NET> (226,372) (226,372)
<NET-INVESTMENT-INCOME> 375,299 375,299
<REALIZED-GAINS-CURRENT> 131,140 131,140
<APPREC-INCREASE-CURRENT> (1,053,961) (1,053,961)
<NET-CHANGE-FROM-OPS> (547,522) (547,522)
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> (30,940) (29,699)
<DISTRIBUTIONS-OF-GAINS> (398,648) (425,038)
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 22,536 71,091
<NUMBER-OF-SHARES-REDEEMED> (60,821) (120,623)
<SHARES-REINVESTED> 10,321 98,940
<NET-CHANGE-IN-ASSETS> (1,954,659) (1,954,659)
<ACCUMULATED-NII-PRIOR> 23,407 23,407
<ACCUMULATED-GAINS-PRIOR> 1,222,784 1,222,784
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 128,288 128,288
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 226,372 226,372
<AVERAGE-NET-ASSETS> 2,914,643 27,352,932
<PER-SHARE-NAV-BEGIN> 14.68 14.71
<PER-SHARE-NII> 0.08 0.18
<PER-SHARE-GAIN-APPREC> (0.41) (0.43)
<PER-SHARE-DIVIDEND> (0.15) (0.20)
<PER-SHARE-DISTRIBUTIONS> (0.60) (0.60)
<RETURNS-OF-CAPITAL> 0.00 0.00
<PER-SHARE-NAV-END> 13.60 13.66
<EXPENSE-RATIO> 2.42 1.40
<AVG-DEBT-OUTSTANDING> 0 0
<AVG-DEBT-PER-SHARE> 0 0
</TABLE>
[DESCRIPTION]
Seneca Funds
Form N-SAR for the Period Ended March 31, 1998
Sub-Item 77C: Submission of Matters to a Vote of Security Holders
(a) A special meeting of shareholders was called to be held
February 25, 1998. The meeting was called to order and
adjourned successively, on March 4, 1998 and March 11, 1998,
and finally held March 18, 1998.
(b) No election of directors occurred at the special meeting.
(c) Shareholders were asked to vote on (1) the approval of a new investment
advisory agreement with Phoenix Investment Counsel, Inc. and a new subadvisory
agreement with Phoenix Investment Counsel, Inc. and Seneca Capital
Management LLC; and (2) ratification of the selection of Price Waterhouse LLP
as the Trusts independent auditors for the fiscal year ending
September 30, 1998.
The votes cast were as follows:
Proposal 1: Approval of contracts (separately by series):
Seneca Growth Total Votes % Value
For 23,264,415.44 57.16%
Against 77,974.71 0.19%
Abstain 65,566.77 0.16%
Seneca Mid Cap
EDGE Total Votes % Value
For 5,549,029.02 46.16%
Against 50,018.61 0.42%
Abstain 1,647,630.42 13.71%
Seneca Real
Estate Securities Total Votes % Value
For 20,751,127.01 66.77%
Against 43,648.01 0.14%
Abstain 18,961.20 0.06%
Seneca Bond Total Votes % Value
For 5,004,432.69 56.17%
Against 27,994.32 0.31%
Abstain 64,835.10 0.73%
Proposal 2
Combined Total Votes % Value
For 54,597,292.29 58.89%
Against 241,242.76 0.26%
Abstain 1,727,144.57 1.86%
Proposal approved: more than 67% of those present where more than 50% of
the outstanding votes are present.
