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<PAGE> PAGE 2
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<PAGE> PAGE 4
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<PAGE> PAGE 7
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SIGNATURE RICHARD A CLEMENS
TITLE MGR/FINANCIAL REPTG
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018140
<NAME> PROACTIVE ASSET ALLOCATION FUND
<SERIES>
<NUMBER> 001
<NAME> OPTI-FLEX DYNAMIC
<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
<OTHER-ITEMS-LIABILITIES> 367898
<TOTAL-LIABILITIES> 367898
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<SHARES-COMMON-STOCK> 1387354
<SHARES-COMMON-PRIOR> 672022
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 618605
<ACCUM-APPREC-OR-DEPREC> (67085)
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<DIVIDEND-INCOME> 252121
<INTEREST-INCOME> 46313
<OTHER-INCOME> 0
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<REALIZED-GAINS-CURRENT> 476703
<APPREC-INCREASE-CURRENT> (64715)
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<FN>
<F1>
</FN>
</TABLE>
The Board of Trustees of
OPTI-flex( Dynamic Fund:
In planning and performing our audit of the financial
statements of OPTI-flex( Dynamic Fund for the year
ended December 31, 1997, we considered its
internal controls, including procedures for safeguarding
securities, in order to determine our auditing procedures
for the purpose of expressing our opinion on the
financial statements and to comply with the requirements
of Form N-SAR, not to provide assurance on the internal controls.
The management of OPTI-flex( Dynamic Fund is
responsible for establishing and maintaining internal
controls. In fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of internal control policies
and procedures. Two of the
objectives of internal controls are to provide management
with reasonable, but not absolute, assurance that assets
are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded
to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in internal controls,
errors or irregularities may occur and not be detected.
Also, projection of any evaluation of the internal controls
to future periods is subject to the risk that they may
become inadequate because of changes in conditions or
that the effectiveness of the design and operation may deteriorate.
Our consideration of the internal controls would not
necessarily disclose all matters in the internal controls
that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which
the design or operation of the specific internal control
elements does not reduce to a relatively low level the risk
that errors or irregularities in amounts that would be
material in relation to the financial statements being
audited may occur and not be detected within a timely period
by employees in the normal course of performing their
assigned functions. However, we noted no matters
involving the internal controls, including procedures for
safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
KPMG PEAT MARWICK LLP
Columbus, Ohio
February 12, 1998
