PROACTIVE ASSET ALLOCATION FUNDS
NSAR-B, 1998-02-25
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<PAGE>      PAGE  1
000 B000000 12/31/97
000 C000000 0001018140
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 PROACTIVE ASSET ALLOCATION FUNDS
001 B000000 811-9156
001 C000000 3145307575
002 A000000 500 CHESTERFIELD CENTER -- SUITE 250
002 B000000 CHESTERFIELD
002 C000000 MO
002 D010000 63017
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
007 C010100  1
007 C020100 OPTI-FLEX DYNAMIC FUND
007 C030100 N
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 PROACTIVE MONEY MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-47027
008 D01AA01 CHESTERFIELD
008 D02AA01 MO
008 D03AA01 63017
010 A00AA01 MUTUAL FUNDS SERVICE CO.
010 B00AA01 84-1441
010 C01AA01 DUBLIN
010 C02AA01 OH
010 C03AA01 43017
011 A00AA01 PROACTIVE FINANCIAL SERVICES, INC.
011 B00AA01 8-48402
011 C01AA01 CHESTERFIELD
011 C02AA01 MO
011 C03AA01 63017
012 A00AA01 MUTUAL FUNDS SERVICE CO.
<PAGE>      PAGE  2
012 B00AA01 84-1441
012 C01AA01 DUBLIN
012 C02AA01 OH
012 C03AA01 43017
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 COLUMBUS
013 B02AA01 OH
013 B03AA01 43215
014 A00AA01 PROACTIVE FINANCIAL SERVICES, INC.
014 B00AA01 8-48402
015 A00AA01 STAR BANK N.A., CINCINNATI
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 SOUTHWEST SECURITIES
020 C000001      5
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020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       18
022 A000001 SOUTHWEST SECURITIES
022 C000001         7
022 D000001       330
022 C000002         0
022 D000002         0
022 C000003         0
022 D000003         0
022 C000004         0
022 D000004         0
022 C000005         0
022 D000005         0
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022 D000006         0
022 C000007         0
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022 C000008         0
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022 C000010         0
<PAGE>      PAGE  3
022 D000010         0
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054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
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054 I00AA00 N
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054 L00AA00 N
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<PAGE>      PAGE  4
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
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078  000000 N
080 A00AA00 THEODORE LIFTMAN INSURANCE, INC.
080 C00AA00      300
081 A00AA00 N
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083 A00AA00 N
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084 A00AA00 N
084 B00AA00        0
085 A00AA00 N
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
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086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
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086 E020000      0
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086 F020000      0
028 A010100       242
028 A020100         0
028 A030100         0
028 A040100        67
028 B010100       298
028 B020100         0
028 B030100         0
028 B040100       628
028 C010100        48
028 C020100         0
028 C030100         0
028 C040100       223
<PAGE>      PAGE  5
028 D010100       269
028 D020100         0
028 D030100         0
028 D040100        76
028 E010100        11
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028 E030100         0
028 E040100        53
028 F010100      2181
028 F020100      1096
028 F030100         0
028 F040100       559
028 G010100      3049
028 G020100      1096
028 G030100         0
028 G040100      1606
028 H000100         0
029  000100 N
030 A000100      0
030 B000100  0.00
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
034  000100 Y
035  000100      0
036 A000100 N
036 B000100      0
042 A000100   0
042 B000100   0
042 C000100   0
042 D000100 100
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100     84
044  000100      0
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047  000100 Y
048  000100  0.000
048 A010100   500000
048 A020100 0.750
048 B010100        0
048 B020100 0.650
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
<PAGE>      PAGE  6
048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
055 A000100 N
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056  000100 Y
057  000100 N
062 A000100 N
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
062 M000100   0.0
062 N000100   0.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100   0
063 B000100  0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 N
<PAGE>      PAGE  7
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100    137841
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071 D000100 1237
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072 F000100       84
072 G000100       30
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072 I000100       28
072 J000100       11
072 K000100        0
072 L000100        2
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<PAGE>      PAGE  8
072 N000100       34
072 O000100        0
072 P000100        0
072 Q000100       28
072 R000100       12
072 S000100        1
072 T000100       84
072 U000100       15
072 V000100        0
072 W000100       11
072 X000100      372
072 Y000100      109
072 Z000100       36
072AA000100      477
072BB000100        0
072CC010100        0
072CC020100       65
072DD010100       30
072DD020100        0
072EE000100     1095
073 A010100   0.0200
073 A020100   0.0000
073 B000100   0.8600
073 C000100   0.0000
074 A000100      729
074 B000100        0
074 C000100        0
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100    12767
074 J000100        0
074 K000100        0
074 L000100      324
074 M000100       77
074 N000100    13897
074 O000100        0
074 P000100        0
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
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074 S000100        0
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074 U010100     1387
074 U020100        0
074 V010100     9.75
074 V020100     0.00
<PAGE>      PAGE  9
074 W000100   0.0000
074 X000100      242
074 Y000100        0
075 A000100        0
075 B000100    11161
076  000100     0.00
SIGNATURE   RICHARD A CLEMENS                            
TITLE       MGR/FINANCIAL REPTG 
 


<TABLE> <S> <C>

<ARTICLE>                                                   6
<CIK>                                        0001018140
<NAME>                                       PROACTIVE ASSET ALLOCATION FUNDS
<SERIES>
   <NUMBER>                                  001
   <NAME>                                    OPTI-FLEX DYNAMIC FUND
       
<S>                                          <C>       
<PERIOD-TYPE>                                12-MOS
<FISCAL-YEAR-END>                            DEC-31-1997
<PERIOD-START>                               JAN-01-1997
<PERIOD-END>                                 DEC-31-1997
<INVESTMENTS-AT-COST>                                12834440
<INVESTMENTS-AT-VALUE>                               12767355
<RECEIVABLES>                                          323577
<ASSETS-OTHER>                                          56207
<OTHER-ITEMS-ASSETS>                                   750282
<TOTAL-ASSETS>                                       13897421
<PAYABLE-FOR-SECURITIES>                                    0
<SENIOR-LONG-TERM-DEBT>                                     0
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<ACCUM-APPREC-OR-DEPREC>                               (67085)
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<OTHER-INCOME>                                              0
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<APPREC-INCREASE-CURRENT>                              (64715)
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<EQUALIZATION>                                              0
<DISTRIBUTIONS-OF-INCOME>                               29870
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<DISTRIBUTIONS-OTHER>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                            199325
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<PER-SHARE-NAV-BEGIN>                                   10.13
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<FN>
<F1>
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</TABLE>


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