Target Funds
NSAR Exhibit SUB-ITEM 77(J)
For fiscal year ended
7/31/00
Reclassification of Capital Accounts: The Fund accounts for and
reports distributions to shareholders in
accordance with American Institute of Certified Public Accountants
(AICPA) Statement of Position 93-2:
Determination, Disclosure, and Financial Statement Presentation of
Income, Capital Gain, and Return of Capital Distributions by
Investment Companies. For the period ended July 31, 2000, the
application of this
statement resulted in the following reclassifications:
Undistributed
Accumulated Paid-in
Net
Net Capital in
Investment
Realized excess of
Fund Ref. Income
Gain/Loss par
Large Capitalization Growth.. (b),(c) $1,987,450
$ - $(1,987,450)
Large Capitalization Value. (b) 58,462
- (58,462)
Small Capitalization Growth. (b),(c) 341,952
(295,728) (46,224)
Small Capitalization Value... (b),(c) 170,028
(125,554) (44,474)
International Equity..... (a),(b),(c) 18,990
95,737 (114,727)
Total Return Bond...... (a),(b),(d) 18,968
37,098 (56,066)
_____________________________
(a) Reclass of net foreign currency gains/losses.
(b) Expenses not deductible for tax purposes.
(c) Reclass of net operating loss.
(d) Reclass of dividends in excess of net investment income.
Net investment income, net realized gains and net assets were not
affected by this change.
