GOLF ASSOCIATED FUND
NSAR-A, 1999-08-27
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<PAGE>      PAGE  1
000 A000000 06/30/1999
000 C000000 0001063920
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 GOLF ASSOCIATED FUND
001 B000000 811-08819
001 C000000 8777454653
002 A000000 2801 OCEAN DRIVE, SUITE 204
002 B000000 VERO BEACH
002 C000000 FL
002 D010000 32963
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
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007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 GOLF INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-55919
008 D010001 VERO BEACH
008 D020001 FL
008 D030001 32963
008 A000002 WALLINGTON ASSET MANAGEMENT, INC.
008 B000002 S
008 C000002 801-31797
008 D010002 INDIANAPOLIS
008 D020002 IN
008 D030002 46240
010 A000001 PFPC, INC.
010 B000001 85-11196
010 C010001 WILMIGNTON
010 C020001 DE
010 C030001 19809
011 A000001 RAFFERTY CAPITAL MARKETS, INC.
011 B000001 8-40605
<PAGE>      PAGE  2
011 C010001 WHITE PLAINS
011 C020001 NY
011 C030001 10605
012 A000001 PFPC, INC.
012 B000001 85-11196
012 C010001 WILMINGTON
012 C020001 DE
012 C030001 19809
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 PHILADELPHIA
013 B020001 PA
013 B030001 19103
015 A000001 PFPC TRUST CO.
015 B000001 C
015 C010001 LESTER
015 C020001 PA
015 C030001 19113
015 E010001 X
018  000000 Y
019 A000000 N
019 B000000    0
020 A000001 PRUDENTIAL SECURITIES INC.
020 B000001 22-2347336
020 C000001      0
020 A000002 RONEY & CO.
020 B000002 38-0982040
020 C000002      0
020 C000003      0
020 C000004      0
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022 B000001 38-0982040
022 C000001       394
022 D000001         2
022 A000002 BAIRD, ROBERT W & CO., INC.
022 B000002 39-6037917
022 C000002         0
022 D000002         6
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003         1
022 D000003         0
022 A000004 PNC BANK, CORP.
022 B000004 23-6200005
022 C000004         0
<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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SIGNATURE   MARY JANE MALONEY
TITLE       MANAGER



<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001063920
<NAME> GOLF ASSOCIATED FUND
<SERIES>
   <NUMBER> 001
   <NAME> CLASS A SHARES

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-05-1999
<PERIOD-END>                               JUN-30-1999
<INVESTMENTS-AT-COST>                           479672
<INVESTMENTS-AT-VALUE>                          515139
<RECEIVABLES>                                     6991
<ASSETS-OTHER>                                   44525
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  566655
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        29853
<TOTAL-LIABILITIES>                              29853
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        501915
<SHARES-COMMON-STOCK>                            49989
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (581)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         35467
<NET-ASSETS>                                    536802
<DIVIDEND-INCOME>                                 2371
<INTEREST-INCOME>                                  603
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  (2973)
<NET-INVESTMENT-INCOME>                              1
<REALIZED-GAINS-CURRENT>                         (581)
<APPREC-INCREASE-CURRENT>                        35467
<NET-CHANGE-FROM-OPS>                            34887
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          40105
<NUMBER-OF-SHARES-REDEEMED>                      (106)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          436802
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             1749
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 138770
<AVERAGE-NET-ASSETS>                            361197
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                            .74
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.74
<EXPENSE-RATIO>                                   1.70


</TABLE>


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