<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0001038698
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000 I000000 6.1
000 J000000 A
001 A000000 BUILDERS FIXED INCOME FUND, INC.
001 B000000 811-08273
001 C000000 3148221644
002 A000000 2190 SOUTH MASON ROAD, STE. 208
002 B000000 ST. LOUIS
002 C000000 MO
002 D010000 63131
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004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
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007 C010100 1
007 C020100 BUILDERS FIXED INCOME FUND
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021 000000 0
022 A000001 NORTHERN TRUST COMPANY
022 B000001 36-3010241
<PAGE> PAGE 2
022 C000001 897398
022 D000001 3164
022 A000002 MERRILL LYNCH
022 B000002 13-5674085
022 C000002 228194
022 D000002 6528
022 A000003 BAUM, GEORGE K. & CO
022 B000003 43-1661917
022 C000003 8586
022 D000003 79128
022 A000004 UMB, INVESTMENT DIVISION
022 C000004 24114
022 D000004 0
022 A000005 SALOMON BROTHERS, INC.
022 B000005 13-3082694
022 C000005 12575
022 D000005 0
022 A000006 NOMURA SECURITIES INTERNATIONAL, INC.
022 B000006 13-2642206
022 C000006 7925
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022 A000007 DONALDSON, LUFKIN & JENRETTE
022 B000007 13-2741729
022 C000007 6955
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022 A000008 LEHMAN BROTHERS
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022 A000009 MERCANTILE BANK NA
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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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008 A000101 CAPITAL MORTGAGE MANAGEMENT, INC.
008 B000101 A
008 C000101 801-054791
008 D010101 ST. LOUIS
008 D020101 MO
008 D030101 63131
008 A000102 COMMERCE BANK
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010 A000101 INVESTMENT COMPANY ADMINISTRATION, L.L.C.
010 C010101 GLENDORA
010 C020101 CA
010 C030101 91741
011 A000101 FIRST FUND DISTRIBUTORS, INC.
011 B000101 8-42809
011 C010101 PHOENIX
011 C020101 AZ
011 C030101 85018
012 A000101 UNIFIED FUND SERVICES, INC.
012 B000101 84-0000000
012 C010101 INDIANAPOLIS
012 C020101 IN
012 C030101 46206
012 C040101 6110
013 A000101 DELOITTE & TOUCHE, LLP
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<PAGE> PAGE 9
013 B030101 63101
015 A000101 UMB BANK, N.A.
015 B000101 C
015 C010101 KANSAS CITY
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015 C030101 64141
015 C040101 6226
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025 A000101 LEHMAN BROTHERS
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025 D000101 3840
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SIGNATURE JOY AUSILI
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001038698
<NAME> BUILDERS FIXED INCOME FUND, INC.
<SERIES>
<NUMBER> 1
<NAME> BUILDERS FIXED INCOME FUND
<MULTIPLIER> 1
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 173576302
<INVESTMENTS-AT-VALUE> 165888039
<RECEIVABLES> 1165522
<ASSETS-OTHER> 25817
<OTHER-ITEMS-ASSETS> 61848
<TOTAL-ASSETS> 167141226
<PAYABLE-FOR-SECURITIES> 19741261
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 74448
<TOTAL-LIABILITIES> 19815709
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 155823439
<SHARES-COMMON-STOCK> 10422719
<SHARES-COMMON-PRIOR> 8772449
<ACCUMULATED-NII-CURRENT> 1827
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (811486)
<OVERDISTRIBUTION-GAINS> 0
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<REALIZED-GAINS-CURRENT> (809391)
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<EQUALIZATION> 0
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<PER-SHARE-NAV-BEGIN> 15.14
<PER-SHARE-NII> 0.83
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<PER-SHARE-DIVIDEND> 0.83
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</TABLE>
To the Board of Directors of
Builders Fixed Income Fund, Inc.:
In planning and performing our audit of the financial
statements of Builders Fixed Income Fund (the sole
fund comprising Builders Fixed Income Fund, Inc.)
(the "Fund") for the year ended December 31, 1999
(on which we have issued our report dated January 14,
2000), we considered its 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 to comply with the requirements of Form N-SAR,
not to provide assurance on the Fund's internal
control.
The management of the Fund 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 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,
errors or irregularities 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 the Fund's 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 the
specific internal control components does not reduce to
a relatively low level the risk that errors or fraud 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 matter involving the Fund's
internal control and its operations, including controls
for safeguarding securities, that we consider to be
material weaknesses as defined above as of December
31, 1999.
This report is intended solely for the information and
use of management, the Board of Directors, Builders
ProLoan Fund, Inc. and the Securities and Exchange
Commission and is not intended to be and should not
be used by anyone other than these specified parties.
Deloitte & Touche LLP
St. Louis, Missouri
January 14, 2000
