MAXFUND TRUST
NSAR-A, 1998-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0001049236
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MAXFUND TRUST
001 B000000 811-8499
001 C000000 2166871000
002 A000000 1301 EAST NINTH STEET, SUITE 3600
002 B000000 CLEVELAND
002 C000000 OH
002 D010000 44114
002 D020000 1800
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 MAXUS OHIO HEARTLAND FUND
007 C030100 N
007 C010200  2
007 C020200 MAXUS AGGRESSIVE VALUE FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
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008 B00AA01 A
008 C00AA01 801-11184
008 D01AA01 CLEVELAND
008 D02AA01 OH
008 D03AA01 44114
008 D04AA01 1800
011 A00AA01 MAXUS SECURITIES CORP.
011 B00AA01 8-18203
011 C01AA01 CLEVELAND
011 C02AA01 OH
011 C03AA01 44114
011 C04AA01 1800
012 A00AA01 MAXUS INFORMATION SYSTEMS, INC.
<PAGE>      PAGE  2
012 B00AA01 84-1594
012 C01AA01 CLEVELAND
012 C02AA01 OH
012 C03AA01 44114
012 C04AA01 1800
013 A00AA01 MCCURDY & ASSOCIATES CPS'S INC.
013 B01AA01 WESTLAKE
013 B02AA01 OH
013 B03AA01 44145
014 A00AA01 MAXUS SECURITIES CORP.
014 B00AA01 8-18203
015 A00AA01 STAR BANK N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45201
015 C04AA01 1118
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    5
019 C00AA00 MAXUSFUNDS
020 A000001 MAXUS SECURITIES CORP.
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<PAGE>      PAGE  3
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041  00AA00 Y
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
<PAGE>      PAGE  4
055 A00AA00 N
055 B00AA00 N
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057  00AA00 N
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<PAGE>      PAGE  5
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066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
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<PAGE>      PAGE  6
066 F000100 N
066 G000100 Y
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
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070 B010100 Y
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070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
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070 N020100 N
070 O010100 N
070 O020100 N
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070 Q010100 N
070 Q020100 N
070 R010100 N
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
074 R030100        0
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<PAGE>      PAGE  9
043  000200      4
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045  000200 Y
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048 A020200 1.000
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062 B000200   0.0
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062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
<PAGE>      PAGE  10
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200      3601
071 B000200       677
071 C000200      3003
071 D000200   23
<PAGE>      PAGE  11
072 A000200  5
072 B000200        2
072 C000200       26
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072 E000200        0
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072 G000200        0
072 H000200        0
072 I000200        3
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072 M000200        0
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<PAGE>      PAGE  12
074 O000200       34
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074 U010200     2387
074 U020200     1168
074 V010200     5.13
074 V020200     5.14
074 W000200   0.0000
074 X000200     1200
074 Y000200        0
075 A000200        0
075 B000200     3003
076  000200     0.00
SIGNATURE   ROBERT CURTIN                                
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001049236
<NAME> MAXFUND TRUST
<SERIES>
   <NUMBER> 1
   <NAME> MAXUS OHIO HEARTLAND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   5-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             FEB-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                        2,183,709
<INVESTMENTS-AT-VALUE>                       2,128,946
<RECEIVABLES>                                    6,091
<ASSETS-OTHER>                                  13,956
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               2,148,993
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       22,971
<TOTAL-LIABILITIES>                             22,971
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     2,176,395
<SHARES-COMMON-STOCK>                          214,754
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                           61
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          4,329
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (54,763)
<NET-ASSETS>                                 2,126,022
<DIVIDEND-INCOME>                                6,028
<INTEREST-INCOME>                               13,860
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  19,828
<NET-INVESTMENT-INCOME>                             60
<REALIZED-GAINS-CURRENT>                         4,329
<APPREC-INCREASE-CURRENT>                     (54,763)
<NET-CHANGE-FROM-OPS>                         (50,374)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        219,334
<NUMBER-OF-SHARES-REDEEMED>                    (4,580)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       2,126,022
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            6,351
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 19,828
<AVERAGE-NET-ASSETS>                         1,578,184
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.00
<PER-SHARE-GAIN-APPREC>                         (0.10)
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.90
<EXPENSE-RATIO>                                   3.21
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001049236
<NAME> MAXFUND TRUST
<SERIES>
   <NUMBER> 2
   <NAME> MAXUS AGGRESSIVE VALUE FUND
       
<S>                             <C>
<PERIOD-TYPE>                   5-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             FEB-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                        3,506,327
<INVESTMENTS-AT-VALUE>                       3,572,209
<RECEIVABLES>                                   27,684
<ASSETS-OTHER>                                  13,956
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               3,613,849
<PAYABLE-FOR-SECURITIES>                        33,988
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       24,941
<TOTAL-LIABILITIES>                             58,929
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     3,508,831
<SHARES-COMMON-STOCK>                          692,470
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                      (2,188)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (17,605)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        65,882
<NET-ASSETS>                                 3,554,920
<DIVIDEND-INCOME>                                1,840
<INTEREST-INCOME>                               26,213
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  30,241
<NET-INVESTMENT-INCOME>                        (2,188)
<REALIZED-GAINS-CURRENT>                      (17,605)
<APPREC-INCREASE-CURRENT>                       65,882
<NET-CHANGE-FROM-OPS>                           46,089
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        699,314
<NUMBER-OF-SHARES-REDEEMED>                    (6,844)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       3,554,920
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           12,093
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 30,241
<AVERAGE-NET-ASSETS>                         3,002,843
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.00
<PER-SHARE-GAIN-APPREC>                           0.13
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               5.13
<EXPENSE-RATIO>                                   2.65
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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