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055 B000400 N
056 000400 Y
057 000400 N
062 A000400 Y
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 3.2
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 10.0
062 N000400 22.3
062 O000400 0.0
062 P000400 56.0
062 Q000400 7.3
062 R000400 1.2
063 A000400 0
063 B000400 9.1
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
<PAGE> PAGE 21
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
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 N
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 102147
071 B000400 107822
071 C000400 519544
071 D000400 20
072 A000400 6
072 B000400 17836
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 1140
072 G000400 31
072 H000400 0
072 I000400 498
072 J000400 9
072 K000400 0
072 L000400 0
072 M000400 11
072 N000400 44
072 O000400 0
072 P000400 0
<PAGE> PAGE 22
072 Q000400 0
072 R000400 10
072 S000400 3
072 T000400 669
072 U000400 0
072 V000400 0
072 W000400 60
072 X000400 2475
072 Y000400 0
072 Z000400 15361
072AA000400 2166
072BB000400 1292
072CC010400 0
072CC020400 24890
072DD010400 15433
072DD020400 64
072EE000400 0
073 A010400 0.1770
073 A020400 0.1860
073 B000400 0.0000
073 C000400 0.0000
074 A000400 2
074 B000400 0
074 C000400 16793
074 D000400 509741
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 746
074 L000400 7860
074 M000400 14
074 N000400 535156
074 O000400 0
074 P000400 209
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 1756
074 S000400 0
074 T000400 533191
074 U010400 86844
074 U020400 380
074 V010400 6.11
074 V020400 6.11
074 W000400 0.0000
074 X000400 37969
074 Y000400 0
<PAGE> PAGE 23
075 A000400 0
075 B000400 546536
076 000400 0.00
SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000217420
<NAME> UNITED FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> UNITED INCOME FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 5,105,669
<INVESTMENTS-AT-VALUE> 8,099,830
<RECEIVABLES> 37,409
<ASSETS-OTHER> 46
<OTHER-ITEMS-ASSETS> 7,600
<TOTAL-ASSETS> 8,144,885
<PAYABLE-FOR-SECURITIES> (16,709)
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (23,686)
<TOTAL-LIABILITIES> (40,395)
<SENIOR-EQUITY> 1,014,624
<PAID-IN-CAPITAL-COMMON> 3,646,987
<SHARES-COMMON-STOCK> 1,014,624
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 10,491
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 438,255
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,994,133
<NET-ASSETS> 8,104,490
<DIVIDEND-INCOME> 38,650
<INTEREST-INCOME> 40,148
<OTHER-INCOME> 0
<EXPENSES-NET> (36,470)
<NET-INVESTMENT-INCOME> 42,328
<REALIZED-GAINS-CURRENT> 409,508
<APPREC-INCREASE-CURRENT> 70,943
<NET-CHANGE-FROM-OPS> 522,779
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (41,376)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63,302
<NUMBER-OF-SHARES-REDEEMED> (86,890)
<SHARES-REINVESTED> 4,885
<NET-CHANGE-IN-ASSETS> 337,189
<ACCUMULATED-NII-PRIOR> 9,932
<ACCUMULATED-GAINS-PRIOR> 10,491
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 21,123
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 36,470
<AVERAGE-NET-ASSETS> 7,884,487
<PER-SHARE-NAV-BEGIN> 7.52
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> .47
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.99
<EXPENSE-RATIO> .94
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000217420
<NAME> UNITED FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> UNITED ACCUMULATIVE FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 1,970,950
<INVESTMENTS-AT-VALUE> 2,044,610
<RECEIVABLES> 54,614
<ASSETS-OTHER> 31
<OTHER-ITEMS-ASSETS> 61
<TOTAL-ASSETS> 2,099,316
<PAYABLE-FOR-SECURITIES> (66,236)
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (4,350)
<TOTAL-LIABILITIES> (70,586)
<SENIOR-EQUITY> 223,273
<PAID-IN-CAPITAL-COMMON> 1,364,234
<SHARES-COMMON-STOCK> 233,273
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3,279
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 364,298
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 73,646
<NET-ASSETS> 2,028,730
<DIVIDEND-INCOME> 10,296
<INTEREST-INCOME> 3,052
<OTHER-INCOME> 0
<EXPENSES-NET> (8,842)
<NET-INVESTMENT-INCOME> 4,506
<REALIZED-GAINS-CURRENT> 299,077
<APPREC-INCREASE-CURRENT> (119,653)
<NET-CHANGE-FROM-OPS> 183,930
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,344)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,665
<NUMBER-OF-SHARES-REDEEMED> (13,308)
<SHARES-REINVESTED> 313
<NET-CHANGE-IN-ASSETS> 160,693
<ACCUMULATED-NII-PRIOR> 2,219
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,156
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,842
<AVERAGE-NET-ASSETS> 1,922,266
<PER-SHARE-NAV-BEGIN> 8.28
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> .81
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.09
<EXPENSE-RATIO> .93
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000217420
<NAME> UNITED FUNDS, INC.
<SERIES>
<NUMBER> 3
<NAME> UNITED SCIENCE AND TECHNOLOGY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 1,147,368
<INVESTMENTS-AT-VALUE> 2,163,307
<RECEIVABLES> 9,339
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 1,790
<TOTAL-ASSETS> 2,174,446
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (4,355)
<TOTAL-LIABILITIES> (4,355)
<SENIOR-EQUITY> 177,948
<PAID-IN-CAPITAL-COMMON> 752,965
<SHARES-COMMON-STOCK> 177,948
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (6,382)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 229,625
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,015,935
<NET-ASSETS> 2,170,091
<DIVIDEND-INCOME> 1,812
<INTEREST-INCOME> 1,674
<OTHER-INCOME> 0
<EXPENSES-NET> (9,904)
<NET-INVESTMENT-INCOME> (6,418)
<REALIZED-GAINS-CURRENT> 184,892
<APPREC-INCREASE-CURRENT> 218,866
<NET-CHANGE-FROM-OPS> 397,340
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,505
<NUMBER-OF-SHARES-REDEEMED> (21,554)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 495,608
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,482
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,904
<AVERAGE-NET-ASSETS> 1,869,025
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 2.32
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.19
<EXPENSE-RATIO> 1.07
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000217420
<NAME> UNITED FUNDS, INC.
<SERIES>
<NUMBER> 04
<NAME> UNITED BOND FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 527,953
<INVESTMENTS-AT-VALUE> 526,534
<RECEIVABLES> 8,606
<ASSETS-OTHER> 14
<OTHER-ITEMS-ASSETS> 2
<TOTAL-ASSETS> 535,156
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (1,965)
<TOTAL-LIABILITIES> (1,965)
<SENIOR-EQUITY> 87,224
<PAID-IN-CAPITAL-COMMON> 464,935
<SHARES-COMMON-STOCK> 87,224
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 67
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (17,617)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,418)
<NET-ASSETS> 533,191
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,836
<OTHER-INCOME> 0
<EXPENSES-NET> (2,475)
<NET-INVESTMENT-INCOME> 15,361
<REALIZED-GAINS-CURRENT> 874
<APPREC-INCREASE-CURRENT> (24,890)
<NET-CHANGE-FROM-OPS> (8,655)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,497)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 35,629
<NUMBER-OF-SHARES-REDEEMED> (37,799)
<SHARES-REINVESTED> 2,191
<NET-CHANGE-IN-ASSETS> (23,957)
<ACCUMULATED-NII-PRIOR> 203
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,475
<AVERAGE-NET-ASSETS> 546,536
<PER-SHARE-NAV-BEGIN> 6.39
<PER-SHARE-NII> .18
<PER-SHARE-GAIN-APPREC> (.28)
<PER-SHARE-DIVIDEND> (.18)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.11
<EXPENSE-RATIO> .91
</TABLE>
EX-99.B-77C
UNITED FUNDS, INC.
SUB-ITEM 77C: Submission of matters to a vote of security
holders:
(a) A Special Meeting of Shareholders was held June 22, 1999.
(b) Auditors were approved.
(c) Matters voted upon at the Special Meeting:
Item 1. To elect the Board of Directors:
Broker
For Withhold Non-Votes*
J. Concannon 766,236,697 26,067,006 0
J. Dillingham 766,311,136 25,992,567 0
D. Gardner 765,061,072 27,242,631 0
L. Graves 765,684,420 26,619,283 0
J. Harroz Jr. 764,641,284 27,662,419 0
J. Hayes 763,762,443 28,541,260 0
R. Hechler 765,385,510 26,918,193 0
H. Herrmann 765,532,543 26,771,160 0
G. Johnson 763,571,351 28,732,352 0
W. Morgan 765,053,066 27,250,637 0
R. Reimer 764,684,981 27,618,722 0
F. Ross 766,149,299 26,154,404 0
E. Schwartz 765,567,221 26,736,482 0
K. Tucker 765,997,639 26,306,064 0
F. Vogel 766,109,647 26,194,056 0
Item 2. To ratify the selection of Deloitte & Touche LLP as the Fund's
independent accountants for its current fiscal year:
Broker
For Against Abstain Non-Votes*
755,150,103 6,050,375 31,103,225 0
Item 3. To approve or disapprove the amendment to the Fund's investment
management agreement with Waddell & Reed Investment Management Company:
Broker
For Against AbstainNon-Votes*
Accumulative Fund 107,237,189 7,974,570 5,886,415 367,991
Bond Fund 42,159,756 2,353,745 2,365,349 79,095
Income Fund 469,602,08436,425,789 27,012,445 1,764,592
Science and Technology Fund77,790,6316,647,4354,287,419 349,198
Item 4. To approve or disapprove amendment of the Fund's policy regarding
securities lending:
Broker
For Against AbstainNon-Votes*
Accumulative Fund 106,836,181 5,846,583 8,415,410 367,991
Bond Fund 42,460,929 1,399,002 3,018,919 79,095
Income Fund 475,423,01822,155,968 35,461,332 1,764,592
Science and Technology Fund78,925,6004,171,8115,628,074 349,198
Item 5. To approve or disapprove the Fund's Articles of Incorporation to
change the par value of Fund shares to $0.001:
Broker
For Against Abstain Non-Votes*
700,581,958 29,827,015 61,858,582 36,148
*Broker non-votes are proxies received by the Fund from brokers or nominees when
the broker or nominee neither has received instructions from the beneficial
owner or other persons entitled to vote nor has discretionary power to vote on a
particular matter.
(d) Not applicable
EX-99.B-77Q1(a)
UNITED FUNDS, INC.
SUB-ITEM 77Q1(a) Changes to the registrant's bylaws:
AMENDMENT TO BYLAWS
RESOLVED, That the Bylaws of each of United Funds, Inc., United Asset
Strategy Fund, Inc., United Cash Management, Inc., United Continental Income
Fund, Inc., United Gold & Government Fund, Inc., United Government Securities
Fund, Inc., United High Income Fund, Inc., United High Income Fund II, Inc.,
United International Growth Fund, Inc., United Municipal Bond Fund, Inc., United
Municipal High Income Fund, Inc., United New Concepts Fund, Inc., United
Retirement Shares, Inc., United Vanguard Fund, Inc., Target/United Funds, Inc.
and Waddell & Reed Funds, Inc. are amended by substitution of the following for
the initial paragraph of Article I, Section 7, regarding voting and inspectors;
and, with respect to United Asset Strategy Fund, Inc., United Retirement Shares,
Inc. and Waddell & Reed Funds, Inc., for Article II, Section 2, regarding voting
and proxies:
At all meetings of the stockholders, every stockholder of record
entitled to vote thereat shall be entitled to vote either in person or
by proxy, which term shall include proxies provided by such
stockholder, or his duly authorized attorney, through written,
electronic, telephonic, computerized, facsimile, telecommunications,
telex or oral communication or by any other form of communication,
each pursuant to such voting procedures and through such systems as
are authorized by the Board of Directors or one or more executive
officers of the Corporation. No proxy which is dated or, if otherwise
provided as permitted by these Bylaws and applicable Maryland law,
provided more than three months before the meeting at which it is
offered shall be accepted, unless such proxy shall, on its face, name
or, if otherwise provided as permitted by these Bylaws and applicable
Maryland law, provide a longer period for which it is to remain in
force.
I certify that I am Assistant Secretary of each of the following
Corporations, and as such officer, have custody of the minute books of the
Corporations, and that the foregoing resolutions are true and correct
resolutions duly passed by the Board of Directors of each of the following
Corporations at a meeting held on February 10, 1999.
United Funds, Inc.
United Asset Strategy Fund, Inc.
United Cash Management, Inc.
United Continental Income Fund, Inc.
United Gold & Government Fund, Inc.
United Government Securities Fund, Inc.
United High Income Fund, Inc.
United High Income Fund II, Inc.
United International Growth Fund, Inc.
United Municipal Bond Fund, Inc.
United Municipal High Income Fund, Inc.
United New Concepts Fund, Inc.
United Retirement Shares, Inc.
United Vanguard Fund, Inc.
Target/United Funds, Inc.
Waddell & Reed Funds, Inc.
/s/Kristen A. Richards
-----------------------------------------
Kristen A. Richards, Assistant Secretary
Dated this 10th day of February, 1999.
EX-99.B-77Q1(e)
UNITED FUNDS, INC.
SUB-ITEM 77Q1(e) Changes to the registrant's investment advisory
contract:
EXHIBIT A TO INVESTMENT MANAGEMENT AGREEMENT
FEE SCHEDULE
A cash fee computed each day on net asset value for each Fund at the annual
rates listed below
United Accumulative Fund
Net Assets Fee
Up to $1 billion 0.70% of net assets
Over $1 billion and up to $2 billion 0.65% of net assets
Over $2 billion and up to $3 billion 0.60% of net assets
Over $3 billion 0.55% of net assets
United Bond Fund
Net Assets Fee
Up to $500 million 0.525% of net assets
Over $500 million and up to $1 billion 0.50% of net assets
Over $1 billion and up to $1.5 billion 0.45% of net assets
Over $1.5 billion 0.40% of net assets
United Income Fund
Net Assets Fee
Up to $1 billion 0.70% of net assets
Over $1 billion and up to $2 billion 0.65% of net assets
Over $2 billion and up to $3 billion 0.60% of net assets
Over $3 billion up to $6 billion 0.55% of net assets
Over $6 billion 0.50%
United Science and Technology Fund
Net Assets Fee
Up to $1 billion 0.85% of net assets
Over $1 billion and up to $2 billion 0.83% of net assets
Over $2 billion and up to $3 billion 0.80% of net assets
Over $3 billion 0.76% of net assets
As Amended and Effective June 30, 1999.
