<PAGE> PAGE 1
000 A000000 01/31/96
000 C000000 0000034549
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 FBL SERIES FUND INC
001 B000000 811-2125
001 C000000 5152255400
002 A000000 5400 UNIVERSITY AVENUE
002 B000000 WEST DES MOINES
002 C000000 IA
002 D010000 50266
002 D020000 5997
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 GROWTH COMMON STOCK PORTFOLIO
007 C030100 N
007 C010200 2
007 C010300 3
007 C020300 HIGH GRADE BOND PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 HIGH YIELD BOND PORTFOLIO
007 C030400 N
007 C010500 5
007 C010600 6
007 C020600 MANAGED PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 BLUE CHIP PORTFOLIO
007 C030700 N
007 C010800 8
007 C020800 MONEY MARKET PORTFOLIO
007 C030800 N
007 C010900 9
007 C011000 10
015 A00AA01 BANKERS TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10005
015 E01AA01 X
<PAGE> PAGE 2
020 A000001 DEAN WITTER REYNOLDS & CO.
020 B000001 94-1671384
020 C000001 30
020 A000002 DM KELLY & CO.
020 B000002 42-1439008
020 C000002 26
020 A000003 DOMINICK & DOMINICK
020 B000003 13-2869428
020 C000003 24
020 A000004 DAIN BOSWORTH, INC.
020 B000004 41-1414269
020 C000004 15
020 A000005 A.G. EDWARDS & CO.
020 B000005 43-0895447
020 C000005 7
020 A000006 MERRILL LYNCH CAPITAL MARKETS
020 B000006 13-2761776
020 C000006 5
020 A000007 R.W. BAIRD
020 B000007 39-6037917
020 C000007 3
020 A000008 MORGAN STANLEY
020 B000008 13-2655998
020 C000008 2
020 A000009 DONALDSON, LUFKIN & JENRETTE
020 B000009 13-2741729
020 C000009 2
020 C000010 0
021 000000 113
022 A000001 PURDENTIAL BACHE
022 B000001 22-2347336
022 C000001 44096
022 D000001 10818
022 A000002 CANTOR FITZGERALD SECURITIES CORP.
022 B000002 13-2698893
022 C000002 21050
022 D000002 0
022 A000003 MERRILL LYNCH CAPITAL MARKETS
022 B000003 13-2761776
022 C000003 14539
022 D000003 499
022 A000004 HSBC SECURITIES, INC.
022 B000004 13-2650272
022 C000004 14568
022 D000004 0
022 A000005 FORD MOTOR CREDIT CORP.
022 B000005 38-1612444
022 C000005 12795
022 D000005 0
022 A000006 DONALDSON, LUFKIN & JENRETTE
022 B000006 13-2741729
<PAGE> PAGE 3
022 C000006 2664
022 D000006 8561
022 A000007 NORWEST
022 B000007 42-0331193
022 C000007 7931
022 D000007 0
022 A000008 GENERAL ELECTRIC CREDIT CORP.
022 B000008 13-1500700
022 C000008 6470
022 D000008 0
022 A000009 AMERICAN GENERAL FINANCE CORP.
022 B000009 35-0416090
022 C000009 5062
022 D000009 122
022 A000010 CHEVRON OIL FINANCE COMPANY
022 B000010 25-1215010
022 C000010 4395
022 D000010 0
023 C000000 150371
023 D000000 26236
077 A000000 N
028 A010100 465
028 A020100 0
028 A030100 0
028 A040100 308
028 B010100 458
028 B020100 0
028 B030100 0
028 B040100 366
028 C010100 513
028 C020100 0
028 C030100 0
028 C040100 609
028 D010100 421
028 D020100 0
028 D030100 0
028 D040100 1100
028 E010100 558
028 E020100 0
028 E030100 0
028 E040100 722
028 F010100 1101
028 F020100 3830
028 F030100 0
028 F040100 603
028 G010100 3516
028 G020100 3830
028 G030100 0
028 G040100 3708
028 H000100 0
034 000100 Y
<PAGE> PAGE 4
035 000100 23
036 A000100 N
036 B000100 0
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 192
044 000100 0
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
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
<PAGE> PAGE 5
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 29413
071 B000100 30573
071 C000100 68566
071 D000100 43
072 A000100 6
072 B000100 375
072 C000100 1058
072 D000100 0
072 E000100 0
072 F000100 192
072 G000100 0
072 H000100 0
072 I000100 60
072 J000100 9
072 K000100 0
072 L000100 32
072 M000100 2
072 N000100 9
072 O000100 0
072 P000100 0
072 Q000100 19
072 R000100 0
072 S000100 3
072 T000100 192
072 U000100 0
072 V000100 0
072 W000100 95
072 X000100 613
072 Y000100 0
072 Z000100 820
<PAGE> PAGE 6
072AA000100 4089
072BB000100 0
072CC010100 5307
072CC020100 0
072DD010100 2470
072DD020100 0
072EE000100 1454
073 A010100 0.4585
073 A020100 0.0000
073 B000100 0.2700
073 C000100 0.0000
074 A000100 188
074 B000100 0
074 C000100 9398
074 D000100 2477
074 E000100 19274
074 F000100 49429
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 132
074 M000100 1
074 N000100 80899
074 O000100 0
074 P000100 21
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1
074 S000100 0
074 T000100 80877
074 U010100 5700
074 U020100 0
074 V010100 14.19
074 V020100 0.00
074 W000100 0.0000
074 X000100 10677
074 Y000100 0
075 A000100 0
075 B000100 76253
076 000100 0.00
028 A010300 44
028 A020300 35
028 A030300 0
028 A040300 22
028 B010300 51
028 B020300 34
028 B030300 0
<PAGE> PAGE 7
028 B040300 94
028 C010300 40
028 C020300 36
028 C030300 0
028 C040300 75
028 D010300 88
028 D020300 35
028 D030300 0
028 D040300 57
028 E010300 191
028 E020300 34
028 E030300 0
028 E040300 77
028 F010300 129
028 F020300 36
028 F030300 0
028 F040300 67
028 G010300 543
028 G020300 210
028 G030300 0
028 G040300 392
028 H000300 0
034 000300 Y
035 000300 6
036 A000300 N
036 B000300 0
042 A000300 0
042 B000300 0
042 C000300 100
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 21
044 000300 0
062 A000300 Y
062 B000300 0.0
062 C000300 1.7
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 2.9
062 J000300 0.0
062 K000300 0.0
062 L000300 2.8
062 M000300 0.0
062 N000300 10.1
062 O000300 0.0
<PAGE> PAGE 8
062 P000300 82.5
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 13.4
064 A000300 N
071 A000300 959
071 B000300 873
071 C000300 8100
071 D000300 11
072 A000300 6
072 B000300 349
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 17
072 G000300 0
072 H000300 0
072 I000300 16
072 J000300 4
072 K000300 0
072 L000300 4
072 M000300 0
072 N000300 3
072 O000300 0
072 P000300 0
072 Q000300 2
072 R000300 0
072 S000300 0
072 T000300 21
072 U000300 0
072 V000300 0
072 W000300 13
072 X000300 80
072 Y000300 0
072 Z000300 269
072AA000300 0
072BB000300 5
072CC010300 86
072CC020300 0
072DD010300 269
072DD020300 0
072EE000300 0
073 A010300 0.3273
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 86
074 B000300 0
074 C000300 399
074 D000300 8141
<PAGE> PAGE 9
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 1
074 K000300 0
074 L000300 168
074 M000300 0
074 N000300 8795
074 O000300 0
074 P000300 5
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 4
074 S000300 0
074 T000300 8786
074 U010300 848
074 U020300 0
074 V010300 10.36
074 V020300 0.00
074 W000300 0.0000
074 X000300 1381
074 Y000300 0
075 A000300 0
075 B000300 8510
076 000300 0.00
028 A010400 21
028 A020400 27
028 A030400 0
028 A040400 76
028 B010400 103
028 B020400 26
028 B030400 0
028 B040400 31
028 C010400 114
028 C020400 28
028 C030400 0
028 C040400 262
028 D010400 49
028 D020400 28
028 D030400 0
028 D040400 30
028 E010400 92
028 E020400 44
028 E030400 0
028 E040400 126
028 F010400 84
028 F020400 30
<PAGE> PAGE 10
028 F030400 0
028 F040400 351
028 G010400 463
028 G020400 183
028 G030400 0
028 G040400 876
028 H000400 0
034 000400 Y
035 000400 6
036 A000400 N
036 B000400 0
042 A000400 0
042 B000400 0
042 C000400 100
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 17
044 000400 0
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 3.9
062 J000400 0.0
062 K000400 0.0
062 L000400 5.3
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 90.8
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 8.6
064 A000400 N
071 A000400 1080
071 B000400 1392
071 C000400 6035
071 D000400 18
072 A000400 6
072 B000400 321
072 C000400 0
072 D000400 0
072 E000400 0
<PAGE> PAGE 11
072 F000400 18
072 G000400 0
072 H000400 0
072 I000400 18
072 J000400 5
072 K000400 0
072 L000400 3
072 M000400 0
072 N000400 2
072 O000400 0
072 P000400 0
072 Q000400 2
072 R000400 0
072 S000400 0
072 T000400 17
072 U000400 0
072 V000400 0
072 W000400 10
072 X000400 75
072 Y000400 8
072 Z000400 254
072AA000400 61
072BB000400 0
072CC010400 0
072CC020400 48
072DD010400 254
072DD020400 0
072EE000400 22
073 A010400 0.3790
073 A020400 0.0000
073 B000400 0.0325
073 C000400 0.0000
074 A000400 177
074 B000400 0
074 C000400 250
074 D000400 5858
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 8
074 L000400 169
074 M000400 0
074 N000400 6462
074 O000400 0
074 P000400 6
074 Q000400 0
074 R010400 0
074 R020400 0
<PAGE> PAGE 12
074 R030400 0
074 R040400 4
074 S000400 0
074 T000400 6452
074 U010400 644
074 U020400 0
074 V010400 10.02
074 V020400 0.00
074 W000400 0.0000
074 X000400 1482
074 Y000400 0
075 A000400 0
075 B000400 6631
076 000400 0.00
028 A010600 126
028 A020600 0
028 A030600 0
028 A040600 84
028 B010600 196
028 B020600 0
028 B030600 0
028 B040600 93
028 C010600 299
028 C020600 133
028 C030600 0
028 C040600 177
028 D010600 196
028 D020600 0
028 D030600 0
028 D040600 104
028 E010600 275
028 E020600 0
028 E030600 0
028 E040600 196
028 F010600 574
028 F020600 366
028 F030600 0
028 F040600 226
028 G010600 1666
028 G020600 499
028 G030600 0
028 G040600 880
028 H000600 0
034 000600 Y
035 000600 18
036 A000600 N
036 B000600 0
042 A000600 0
042 B000600 0
042 C000600 100
042 D000600 0
<PAGE> PAGE 13
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 58
044 000600 0
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
071 A000600 2840
071 B000600 7994
071 C000600 16973
071 D000600 17
072 A000600 6
072 B000600 317
072 C000600 297
072 D000600 0
072 E000600 0
072 F000600 69
072 G000600 0
072 H000600 0
072 I000600 33
072 J000600 6
072 K000600 0
072 L000600 10
072 M000600 0
072 N000600 4
072 O000600 0
072 P000600 0
072 Q000600 6
072 R000600 0
072 S000600 1
072 T000600 58
072 U000600 0
072 V000600 0
072 W000600 29
<PAGE> PAGE 14
072 X000600 216
072 Y000600 0
072 Z000600 398
072AA000600 835
072BB000600 0
072CC010600 1368
072CC020600 0
072DD010600 367
072DD020600 0
072EE000600 188
073 A010600 0.2021
073 A020600 0.0000
073 B000600 0.1029
073 C000600 0.0000
074 A000600 172
074 B000600 0
074 C000600 8273
074 D000600 2402
074 E000600 7857
074 F000600 5661
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 85
074 M000600 1
074 N000600 24451
074 O000600 0
074 P000600 13
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 3
074 S000600 0
074 T000600 24435
074 U010600 1881
074 U020600 0
074 V010600 12.99
074 V020600 0.00
074 W000600 0.0000
074 X000600 4995
074 Y000600 0
075 A000600 0
075 B000600 22893
076 000600 0.00
028 A010700 160
028 A020700 0
028 A030700 0
028 A040700 53
<PAGE> PAGE 15
028 B010700 167
028 B020700 0
028 B030700 0
028 B040700 84
028 C010700 293
028 C020700 0
028 C030700 0
028 C040700 50
028 D010700 169
028 D020700 0
028 D030700 0
028 D040700 34
028 E010700 288
028 E020700 85
028 E030700 0
028 E040700 222
028 F010700 385
028 F020700 0
028 F030700 0
028 F040700 70
028 G010700 1462
028 G020700 85
028 G030700 0
028 G040700 513
028 H000700 0
034 000700 Y
035 000700 6
036 A000700 N
036 B000700 0
042 A000700 0
042 B000700 0
042 C000700 100
042 D000700 0
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 26
044 000700 0
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
<PAGE> PAGE 16
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
071 A000700 679
071 B000700 0
071 C000700 9654
071 D000700 0
072 A000700 6
072 B000700 26
072 C000700 108
072 D000700 0
072 E000700 0
072 F000700 13
072 G000700 0
072 H000700 0
072 I000700 20
072 J000700 5
072 K000700 0
072 L000700 4
072 M000700 0
072 N000700 3
072 O000700 0
072 P000700 0
072 Q000700 3
072 R000700 0
072 S000700 0
072 T000700 26
072 U000700 0
072 V000700 0
072 W000700 15
072 X000700 90
072 Y000700 0
072 Z000700 45
072AA000700 0
072BB000700 0
072CC010700 1384
072CC020700 0
072DD010700 87
072DD020700 0
072EE000700 0
073 A010700 0.1950
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 291
074 B000700 0
074 C000700 750
074 D000700 0
<PAGE> PAGE 17
074 E000700 0
074 F000700 10985
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 17
074 M000700 0
074 N000700 12043
074 O000700 0
074 P000700 7
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 3
074 S000700 0
074 T000700 12033
074 U010700 466
074 U020700 0
074 V010700 25.84
074 V020700 0.00
074 W000700 0.0000
074 X000700 3309
074 Y000700 0
075 A000700 0
075 B000700 10488
076 000700 0.00
028 A010800 2
028 A020800 1
028 A030800 0
028 A040800 12
028 B010800 27
028 B020800 1
028 B030800 0
028 B040800 27
028 C010800 80
028 C020800 2
028 C030800 0
028 C040800 5
028 D010800 4
028 D020800 2
028 D030800 0
028 D040800 9
028 E010800 67
028 E020800 2
028 E030800 0
028 E040800 38
028 F010800 3
028 F020800 2
<PAGE> PAGE 18
028 F030800 0
028 F040800 160
028 G010800 183
028 G020800 10
028 G030800 0
028 G040800 251
028 H000800 0
034 000800 Y
035 000800 2
036 A000800 N
036 B000800 0
042 A000800 0
042 B000800 0
042 C000800 100
042 D000800 0
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 0
043 000800 6
044 000800 0
062 A000800 Y
062 B000800 0.0
062 C000800 81.8
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 14.5
062 J000800 0.0
062 K000800 0.0
062 L000800 3.7
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 13
063 B000800 0.0
064 A000800 N
071 A000800 0
071 B000800 0
071 C000800 0
071 D000800 0
072 A000800 6
072 B000800 72
072 C000800 0
072 D000800 0
072 E000800 0
<PAGE> PAGE 19
072 F000800 5
072 G000800 0
072 H000800 0
072 I000800 7
072 J000800 3
072 K000800 0
072 L000800 1
072 M000800 0
072 N000800 2
072 O000800 0
072 P000800 0
072 Q000800 1
072 R000800 0
072 S000800 0
072 T000800 6
072 U000800 0
072 V000800 0
072 W000800 4
072 X000800 29
072 Y000800 5
072 Z000800 47
072AA000800 0
072BB000800 0
072CC010800 0
072CC020800 0
072DD010800 47
072DD020800 0
072EE000800 0
073 A010800 0.0190
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 88
074 B000800 0
074 C000800 2292
074 D000800 0
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 5
074 L000800 2
074 M000800 0
074 N000800 2387
074 O000800 0
074 P000800 3
074 Q000800 0
074 R010800 0
074 R020800 0
<PAGE> PAGE 20
074 R030800 0
074 R040800 3
074 S000800 0
074 T000800 2381
074 U010800 2381
074 U020800 0
074 V010800 1.00
074 V020800 0.00
074 W000800 1.0000
074 X000800 218
074 Y000800 0
075 A000800 2478
075 B000800 0
076 000800 0.00
SIGNATURE KRISTI ROJOHN
TITLE ASSISTANT SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> GROWTH COMMON STOCK
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 72960647
<INVESTMENTS-AT-VALUE> 80577733
<RECEIVABLES> 132387
<ASSETS-OTHER> 1013
<OTHER-ITEMS-ASSETS> 188496
<TOTAL-ASSETS> 80899629
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 22260
<TOTAL-LIABILITIES> 22260
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 70623329
<SHARES-COMMON-STOCK> 5700499
<SHARES-COMMON-PRIOR> 5441946
<ACCUMULATED-NII-CURRENT> (191909)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2823163
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7617086
<NET-ASSETS> 80877369
<DIVIDEND-INCOME> 1058316
<INTEREST-INCOME> 374925
<OTHER-INCOME> 0
<EXPENSES-NET> 612799
<NET-INVESTMENT-INCOME> 820442
<REALIZED-GAINS-CURRENT> 4088963
<APPREC-INCREASE-CURRENT> 5307002
<NET-CHANGE-FROM-OPS> 10216407
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2469514
<DISTRIBUTIONS-OF-GAINS> 1454239
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 252256
<NUMBER-OF-SHARES-REDEEMED> 266123
<SHARES-REINVESTED> 272420
<NET-CHANGE-IN-ASSETS> 9930866
<ACCUMULATED-NII-PRIOR> 1457162
<ACCUMULATED-GAINS-PRIOR> 188440
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 192086
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 612799
<AVERAGE-NET-ASSETS> 76208147
<PER-SHARE-NAV-BEGIN> 13.04
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 1.73
<PER-SHARE-DIVIDEND> 0.46
<PER-SHARE-DISTRIBUTIONS> 0.27
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.19
<EXPENSE-RATIO> 1.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> HIGH GRADE BOND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 8235337
<INVESTMENTS-AT-VALUE> 8540181
<RECEIVABLES> 168679
<ASSETS-OTHER> 300
<OTHER-ITEMS-ASSETS> 85753
<TOTAL-ASSETS> 8794913
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8829
<TOTAL-LIABILITIES> 8829
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8524504
<SHARES-COMMON-STOCK> 848222
<SHARES-COMMON-PRIOR> 813312
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (44112)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 304844
<NET-ASSETS> 8786084
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 348672
<OTHER-INCOME> 0
<EXPENSES-NET> 79479
<NET-INVESTMENT-INCOME> 269193
<REALIZED-GAINS-CURRENT> (5363)
<APPREC-INCREASE-CURRENT> 85662
<NET-CHANGE-FROM-OPS> 349492
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 269193
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 52618
<NUMBER-OF-SHARES-REDEEMED> 38013
<SHARES-REINVESTED> 20305
<NET-CHANGE-IN-ASSETS> 441055
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (38748)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17103
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 79479
<AVERAGE-NET-ASSETS> 8481533
<PER-SHARE-NAV-BEGIN> 10.26
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.10
<PER-SHARE-DIVIDEND> 0.33
<PER-SHARE-DISTRIBUTIONS> 0.
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.36
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> HIGH YIELD BOND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 6159551
<INVESTMENTS-AT-VALUE> 6107415
<RECEIVABLES> 176632
<ASSETS-OTHER> 260
<OTHER-ITEMS-ASSETS> 177193
<TOTAL-ASSETS> 6461500
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9550
<TOTAL-LIABILITIES> 9550
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6471334
<SHARES-COMMON-STOCK> 643845
<SHARES-COMMON-PRIOR> 666735
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 32107
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (52135)
<NET-ASSETS> 6451950
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 321009
<OTHER-INCOME> 0
<EXPENSES-NET> 67102
<NET-INVESTMENT-INCOME> 253907
<REALIZED-GAINS-CURRENT> 60846
<APPREC-INCREASE-CURRENT> (48242)
<NET-CHANGE-FROM-OPS> 266511
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 253907
<DISTRIBUTIONS-OF-GAINS> 21547
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46434
<NUMBER-OF-SHARES-REDEEMED> 87661
<SHARES-REINVESTED> 18337
<NET-CHANGE-IN-ASSETS> (238557)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (7192)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 18453
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 74769
<AVERAGE-NET-ASSETS> 6655402
<PER-SHARE-NAV-BEGIN> 10.03
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> 0.38
<PER-SHARE-DISTRIBUTIONS> 0.03
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 2.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> MANAGED
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 22351311
<INVESTMENTS-AT-VALUE> 24193418
<RECEIVABLES> 85371
<ASSETS-OTHER> 389
<OTHER-ITEMS-ASSETS> 171544
<TOTAL-ASSETS> 24450722
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15705
<TOTAL-LIABILITIES> 15705
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22073793
<SHARES-COMMON-STOCK> 1881378
<SHARES-COMMON-PRIOR> 1780492
<ACCUMULATED-NII-CURRENT> 32094
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 485141
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1842107
<NET-ASSETS> 24435017
<DIVIDEND-INCOME> 296792
<INTEREST-INCOME> 317022
<OTHER-INCOME> 0
<EXPENSES-NET> 215701
<NET-INVESTMENT-INCOME> 398113
<REALIZED-GAINS-CURRENT> 834511
<APPREC-INCREASE-CURRENT> 1368230
<NET-CHANGE-FROM-OPS> 2600854
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 367290
<DISTRIBUTIONS-OF-GAINS> 188116
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 130894
<NUMBER-OF-SHARES-REDEEMED> 69182
<SHARES-REINVESTED> 39175
<NET-CHANGE-IN-ASSETS> 3330191
<ACCUMULATED-NII-PRIOR> 1272
<ACCUMULATED-GAINS-PRIOR> (161255)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 69289
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 215701
<AVERAGE-NET-ASSETS> 22908063
<PER-SHARE-NAV-BEGIN> 11.85
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 1.22
<PER-SHARE-DIVIDEND> 0.20
<PER-SHARE-DISTRIBUTIONS> 0.10
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.99
<EXPENSE-RATIO> 1.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> BLUE CHIP
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 6983703
<INVESTMENTS-AT-VALUE> 11734878
<RECEIVABLES> 17255
<ASSETS-OTHER> 347
<OTHER-ITEMS-ASSETS> 290753
<TOTAL-ASSETS> 12043233
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10058
<TOTAL-LIABILITIES> 10058
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7286470
<SHARES-COMMON-STOCK> 465744
<SHARES-COMMON-PRIOR> 422597
<ACCUMULATED-NII-CURRENT> (552)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4384)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4751175
<NET-ASSETS> 12033175
<DIVIDEND-INCOME> 108538
<INTEREST-INCOME> 25764
<OTHER-INCOME> 0
<EXPENSES-NET> 89049
<NET-INVESTMENT-INCOME> 45253
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 1383701
<NET-CHANGE-FROM-OPS> 1428954
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 87280
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 60945
<NUMBER-OF-SHARES-REDEEMED> 21269
<SHARES-REINVESTED> 3471
<NET-CHANGE-IN-ASSETS> 2375904
<ACCUMULATED-NII-PRIOR> 41475
<ACCUMULATED-GAINS-PRIOR> (4384)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 89049
<AVERAGE-NET-ASSETS> 10482023
<PER-SHARE-NAV-BEGIN> 22.85
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 3.08
<PER-SHARE-DIVIDEND> 0.19
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 25.84
<EXPENSE-RATIO> 1.68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 8
<NAME> MONEY MARKET
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 2292136
<INVESTMENTS-AT-VALUE> 2292136
<RECEIVABLES> 6678
<ASSETS-OTHER> 229
<OTHER-ITEMS-ASSETS> 88093
<TOTAL-ASSETS> 2387136
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5914
<TOTAL-LIABILITIES> 5914
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2378841
<SHARES-COMMON-STOCK> 2381222
<SHARES-COMMON-PRIOR> 2438850
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2381222
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 72246
<OTHER-INCOME> 0
<EXPENSES-NET> 24824
<NET-INVESTMENT-INCOME> 47422
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 47422
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 47422
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 183344
<NUMBER-OF-SHARES-REDEEMED> 251320
<SHARES-REINVESTED> 10348
<NET-CHANGE-IN-ASSETS> (57628)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4965
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29473
<AVERAGE-NET-ASSETS> 2462139
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 2.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
