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041 000400 Y
042 A000400 33
042 B000400 0
042 C000400 21
042 D000400 45
042 E000400 0
042 F000400 0
042 G000400 1
042 H000400 0
043 000400 4
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.750
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
<PAGE> PAGE 22
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
<PAGE> PAGE 23
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 9216
071 B000400 8988
071 C000400 939
071 D000400 957
072 A000400 12
072 B000400 5
072 C000400 6
072 D000400 0
072 E000400 0
072 F000400 8
072 G000400 63
072 H000400 0
072 I000400 46
072 J000400 51
072 K000400 0
072 L000400 0
072 M000400 4
072 N000400 24
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 0
072 S000400 48
072 T000400 4
072 U000400 4
072 V000400 0
072 W000400 5
072 X000400 257
<PAGE> PAGE 24
072 Y000400 236
072 Z000400 -9
072AA000400 171
072BB000400 0
072CC010400 0
072CC020400 14
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.1900
073 A020400 0.8400
073 B000400 0.0000
073 C000400 0.6300
074 A000400 0
074 B000400 0
074 C000400 174
074 D000400 0
074 E000400 0
074 F000400 1290
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 40
074 L000400 1
074 M000400 15
074 N000400 1520
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 44
074 S000400 0
074 T000400 1476
074 U010400 76173
074 U020400 2913
074 V010400 18.66
074 V020400 18.61
074 W000400 0.0000
074 X000400 49
074 Y000400 0
075 A000400 0
075 B000400 1087
076 000400 0.00
SIGNATURE MARGARET BENKART
TITLE ASST VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
<NUMBER> 1
<NAME> STRAGTEGIC NATURAL RESOURCES FUND
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> APR-30-1999 APR-30-1999
<PERIOD-END> APR-30-1999 APR-30-1999
<INVESTMENTS-AT-COST> 4374803 4374803
<INVESTMENTS-AT-VALUE> 4834264 4834264
<RECEIVABLES> 401461 401461
<ASSETS-OTHER> 18765 18765
<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 5254490 5254490
<PAYABLE-FOR-SECURITIES> 509548 509548
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 50934 50934
<TOTAL-LIABILITIES> 560482 560482
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 4837542 4837542
<SHARES-COMMON-STOCK> 287199 27210
<SHARES-COMMON-PRIOR> 344464 0
<ACCUMULATED-NII-CURRENT> (198) (198)
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> (602798) (602798)
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 459462 459462
<NET-ASSETS> 4694008 4694008
<DIVIDEND-INCOME> 58666 58666
<INTEREST-INCOME> 20863 20863
<OTHER-INCOME> 0 0
<EXPENSES-NET> (80060) (80060)
<NET-INVESTMENT-INCOME> (531) (531)
<REALIZED-GAINS-CURRENT> (319476) (319476)
<APPREC-INCREASE-CURRENT> 67879 67879
<NET-CHANGE-FROM-OPS> (252128) (252128)
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> (107147) (1462)
<DISTRIBUTIONS-OF-GAINS> (158) (2)
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 131711 28871
<NUMBER-OF-SHARES-REDEEMED> 1790 20201
<SHARES-REINVESTED> 129 1461
<NET-CHANGE-IN-ASSETS> (1003826) 5677834
<ACCUMULATED-NII-PRIOR> 119210 0
<ACCUMULATED-GAINS-PRIOR> (297412) 0
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 46098 46098
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 322867 322867
<AVERAGE-NET-ASSETS> 3809606 332705
<PER-SHARE-NAV-BEGIN> 16.54 12.22
<PER-SHARE-NII> 0.00 (0.05)
<PER-SHARE-GAIN-APPREC> (1.25) 3.21
<PER-SHARE-DIVIDEND> 0.37 0.40
<PER-SHARE-DISTRIBUTIONS> 0.00 0.00
<RETURNS-OF-CAPITAL> 0.00 0.00
<PER-SHARE-NAV-END> 14.92 14.98
<EXPENSE-RATIO> 2.19 2.40
[AVG-DEBT-OUTSTANDING] 0 0
[AVG-DEBT-PER-SHARE] 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
<NUMBER> 2
<NAME> INFO-TECH & COMMUNICATIONS FUND
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> APR-30-1999 APR-30-1999
<PERIOD-END> APR-30-1999 APR-30-1999
<INVESTMENTS-AT-COST> 41990057 41990057
<INVESTMENTS-AT-VALUE> 50412332 50412332
<RECEIVABLES> 4547311 4547311
<ASSETS-OTHER> 15861 15861
<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 54975504 54975504
<PAYABLE-FOR-SECURITIES> 1560535 1560535
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 175831 175831
<TOTAL-LIABILITIES> 1736366 1736366
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 0 0
<SHARES-COMMON-STOCK> 1121237 620240
<SHARES-COMMON-PRIOR> 124389 0
<ACCUMULATED-NII-CURRENT> 0 0
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> 4811790 4811790
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 8422275 8422275
<NET-ASSETS> 53239138 53239138
<DIVIDEND-INCOME> 53711 53711
<INTEREST-INCOME> 165805 165805
<OTHER-INCOME> 0 0
<EXPENSES-NET> (362025) (362025)
<NET-INVESTMENT-INCOME> (142509) (142509)
<REALIZED-GAINS-CURRENT> 5142360 5142360
<APPREC-INCREASE-CURRENT> 8116172 8116172
<NET-CHANGE-FROM-OPS> 13116023 13116023
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> 0 0
<DISTRIBUTIONS-OF-GAINS> (132847) (25118)
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 1256122 627210
<NUMBER-OF-SHARES-REDEEMED> 265173 8164
<SHARES-REINVESTED> 5899 1194
<NET-CHANGE-IN-ASSETS> 50798796 2420342
<ACCUMULATED-NII-PRIOR> 0 0
<ACCUMULATED-GAINS-PRIOR> (30284) (30284)
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 211768 211768
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 697000 697000
<AVERAGE-NET-ASSETS> 30340029 15400274
<PER-SHARE-NAV-BEGIN> 19.62 18.23
<PER-SHARE-NII> (0.08) (0.08)
<PER-SHARE-GAIN-APPREC> 11.26 12.51
<PER-SHARE-DIVIDEND> 0.00 0.00
<PER-SHARE-DISTRIBUTIONS> 0.18 0.18
<RETURNS-OF-CAPITAL> 0.00 0.00
<PER-SHARE-NAV-END> 30.62 30.48
<EXPENSE-RATIO> 2.07 2.41
[AVG-DEBT-OUTSTANDING] 0 0
[AVG-DEBT-PER-SHARE] 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
<NUMBER> 4
<NAME> GROWTH FUND
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> APR-30-1999 APR-30-1999
<PERIOD-END> APR-30-1999 APR-30-1999
<INVESTMENTS-AT-COST> 1419486 1419486
<INVESTMENTS-AT-VALUE> 1463816 1463816
<RECEIVABLES> 40953 40953
<ASSETS-OTHER> 15717 15717
<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 1520486 1520486
<PAYABLE-FOR-SECURITIES> 0 0
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 44623 44623
<TOTAL-LIABILITIES> 44623 44623
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 1269888 1269888
<SHARES-COMMON-STOCK> 76173 2913
<SHARES-COMMON-PRIOR> 49674 0
<ACCUMULATED-NII-CURRENT> 0 0
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> 161645 161645
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 44330 44330
<NET-ASSETS> 1475863 1475863
<DIVIDEND-INCOME> 5971 5971
<INTEREST-INCOME> 5041 5041
<OTHER-INCOME> 0 0
<EXPENSES-NET> (20240) (20240)
<NET-INVESTMENT-INCOME> (9228) (9228)
<REALIZED-GAINS-CURRENT> 171323 171323
<APPREC-INCREASE-CURRENT> (14256) (14256)
<NET-CHANGE-FROM-OPS> 147839 147839
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> (12649) (425)
<DISTRIBUTIONS-OF-GAINS> (41958) (1304)
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 50700 3387
<NUMBER-OF-SHARES-REDEEMED> 26965 520
<SHARES-REINVESTED> 2764 46
<NET-CHANGE-IN-ASSETS> 585223 870640
<ACCUMULATED-NII-PRIOR> 13074 0
<ACCUMULATED-GAINS-PRIOR> 42624 0
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 8089 8089
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 257229 257229
<AVERAGE-NET-ASSETS> 1509914 34099
<PER-SHARE-NAV-BEGIN> 17.93 16.46
<PER-SHARE-NII> (0.15) (0.12)
<PER-SHARE-GAIN-APPREC> 1.70 3.11
<PER-SHARE-DIVIDEND> 0.19 0.21
<PER-SHARE-DISTRIBUTIONS> 0.63 0.63
<RETURNS-OF-CAPITAL> 0.00 0.00
<PER-SHARE-NAV-END> 18.66 18.61
<EXPENSE-RATIO> 1.93 2.03
[AVG-DEBT-OUTSTANDING] 0 0
[AVG-DEBT-PER-SHARE] 0 0
</TABLE>
June 11, 1999
To the Trustees and Shareholders of ORBITEX Group of Funds:
In planning and performing our audit of the financial statements and
financial highlights of the Orbitex Strategic Natural Resources Fund,
Orbitex Information Technology Fund, and Orbitex Growth Fund, (each a
series of the Orbitex Group of Funds and collectively, the "Funds") for the
year ended April 30, 1999, we considered their internal control, including
control activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the
financial statements and financial highlights and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an
audit pertain to the entity's objective of preparing financial statements
and financial highlights for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those controls
include the safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, error or fraud may
occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control 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 one or more of the internal control components does not reduce
to a relatively low level the risk that misstatements caused by error or
fraud in amounts that would be material in relation to the financial
statements and financial highlights 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 internal control and its operation, including controls over
safeguarding securities, that we consider to be material weaknesses as
defined above as of April 30, 1999.
This report is intended solely for the information and use of management,
the Board of Trustees of the ORBITEX Group of Funds, and the Securities and
Exchange Commission.
MEETING OF SHAREHOLDERS
ORBITEX GROUP OF FUNDS
A special meeting of the shareholders of the Trust was held on
December 2, 1998 at the offices of the Trust, 410 Park Avenue,
New York, New York. The matters voted upon by the shareholders
and the resulting votes are presented below:
Proposal 1 - To Elect a Board of Trustees:
# of shares voted % of shares voted
Ronald S. Altbac
Affirmative 644,487.6263 99.600%
Withheld 2,633.0000 0.400
Total 647,120.6263 100.000%
Thomas T. Bachmann
Affirmative 643,748.2260 99.500 %
Withheld 3,372.4003 0.500
Total 647,120.6263 100.000%
Otto J. Felber
Affirmative 644,487.6263 99.600%
Withheld 2,633.0000 0.400
Total 647,120.6263 100.000%
Stephen H. Hamrick
Affirmative 644,487.6263 99.600%
Withheld 2,633.0000 0.400
Total 647,120.6263 100.000%
John D. Morgan
Affirmative 644,487.6263 99.600%
Withheld 2,633.0000 0.400
TOTAL 647,120.6263 100.000%
James L. Nelson
Affirmative 644,487.6263 99.600%
Withheld 2,633.0000 0.400
Total 647,120.6263 100.000%
Richard E. Stierwalt
Affirmative 644,487.6263 99.600%
Withheld 2,633.0000 0.400
Total 647,120.6263 100.000%
Proposal 2 - To ratify the selection of PricewaterhouseCoopers LLP
as Independent Accountants of the Trust:
# of shares voted % of shares voted
Affirmative 640,354.6263 98.955%
Withheld 1,624.0000 0.250
Abstain 5,142.0000 0.795
Total 647,120.6263 100.000%
