<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 1022661
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
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008 B00AA01 A
008 C00AA01 801-30125
008 D01AA01 WELLESLEY HILLS
008 D02AA01 MA
008 D03AA01 02181
010 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
010 B00AA01 84-1764
010 C01AA01 BOSTON
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010 C03AA01 02109
010 C04AA01 2873
011 A00AA01 INSIGHT BROKERAGE SERVICES, INC.
<PAGE> PAGE 2
011 B00AA01 8-38747
011 C01AA01 WELLESLEY HILLS
011 C02AA01 MA
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012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
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013 B01AA01 BOSTON
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013 B03AA01 02109
014 A00AA01 INSIGHT BROKERAGE SERVICES, INC.
014 B00AA01 8-999
015 A00AA01 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B00AA01 C
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022 B000002 13-5659485
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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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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SIGNATURE ERIC GODESS
TITLE TREASURER
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<SERIES>
<NUMBER> 01
<NAME> Kobren Growth Fund
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<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> Kobren Moderate Growth Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PERIOD-END> DEC-31-1997
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<DISTRIBUTIONS-OF-GAINS> (2,027)
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<NUMBER-OF-SHARES-REDEEMED> (383,530)
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<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> Kobren Conservative Allocation Fund
<S> <C>
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<PERIOD-END> DEC-31-1997
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<GROSS-EXPENSE> 250,950
<AVERAGE-NET-ASSETS> 8,886,750
<PER-SHARE-NAV-BEGIN> 9.98
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> 1.44
<PER-SHARE-DIVIDEND> (0.61)
<PER-SHARE-DISTRIBUTIONS> (0.03)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.39
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
