<PAGE> PAGE 1
000 B000000 11/30/97
000 C000000 0000039451
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 VKAC GROWTH AND INCOME FUND
001 B000000 811-01228
001 C000000 6306846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 VAN KAMPEN AMERICAN CAPITAL ASSET MANAGEMENT
008 B000001 A
008 C000001 801-8226
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
011 A000001 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B000001 8-19412
011 C010001 OAKBROOK TERRACE
011 C020001 IL
011 C030001 60181
012 A000001 ACCESS INVESTOR SERVICES, INC.
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
013 A000001 PRICE WATERHOUSE LLP
013 B010001 HOUSTON
013 B020001 TX
<PAGE> PAGE 2
013 B030001 77002
014 A000001 MORGAN STANLEY & CO., INCORPORATED
014 B000001 8-733537
014 A000002 DEAN WITTER REYNOLDS, INC
014 B000002 8-728181
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 102
019 C000000 VANKAMPENA
020 A000001 SALOMON BROTHERS
020 B000001 13-3082694
020 C000001 268
020 A000002 JAMES CAPEL & CO.
020 B000002 52-1348224
020 C000002 153
020 A000003 GOLDMAN SACHS
020 B000003 13-5108880
020 C000003 134
020 A000004 FIRST BOSTON
020 B000004 13-5659485
020 C000004 122
020 A000005 MONTGOMERY SECURITIES
020 B000005 94-1701676
020 C000005 100
020 A000006 DONALDSON LUFKIN JENNRETTE
020 B000006 13-2741729
020 C000006 100
020 A000007 MERRILL LYNCH
020 B000007 13-5674085
020 C000007 99
020 A000008 PAINE WEBBER
020 B000008 13-2638166
020 C000008 99
020 A000009 LEHMAN BROTHERS
020 B000009 13-2518466
020 C000009 83
020 A000010 SMITH BARNEY
020 B000010 13-1912900
020 C000010 81
021 000000 1939
022 A000001 GENERAL ELECTRIC CAP CORP
022 B000001 06-1076552
022 C000001 6017356
022 D000001 0
022 A000002 LEHMAN BROTHERS
<PAGE> PAGE 3
022 B000002 13-2518466
022 C000002 1144576
022 D000002 2579
022 A000003 BA SECURITIES
022 B000003 95-4035346
022 C000003 942729
022 D000003 0
022 A000004 PRUDENTIAL SECURITIES
022 B000004 22-2347336
022 C000004 840353
022 D000004 0
022 A000005 DONALDSON LUFKIN JENNRETTE
022 B000005 13-2741729
022 C000005 729941
022 D000005 0
022 A000006 SBC WARBURG
022 B000006 13-3498485
022 C000006 496885
022 D000006 0
022 A000007 PRUDENTIAL SECURITIES
022 B000007 22-2347336
022 C000007 363534
022 D000007 0
022 A000008 STATE STREET BANK & TRUST
022 B000008 04-1867445
022 C000008 218315
022 D000008 0
022 A000009 FIRST CHICAGO CAPITAL MKTS
022 B000009 36-3595942
022 C000009 98956
022 D000009 0
022 A000010 GOLDMAN SACHS
022 B000010 13-5108880
022 C000010 33986
022 D000010 48580
023 C000000 11044031
023 D000000 150873
024 000000 Y
025 A000001 MERRILL LYNCH
025 B000001 13-5674085
025 C000001 D
025 D000001 1917
025 A000002 GENERAL ELECTRIC CAP. CORP.
025 B000002 06-1076552
025 C000002 D
025 D000002 14998
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
<PAGE> PAGE 4
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 25543
028 A020000 2489
028 A030000 0
028 A040000 11761
028 B010000 28935
028 B020000 0
028 B030000 0
028 B040000 14258
028 C010000 23492
028 C020000 0
028 C030000 0
028 C040000 12520
028 D010000 27111
028 D020000 2578
028 D030000 0
028 D040000 18149
028 E010000 34537
028 E020000 0
028 E030000 0
028 E040000 19324
028 F010000 21082
028 F020000 0
028 F030000 0
028 F040000 9702
028 G010000 160700
028 G020000 5067
028 G030000 0
028 G040000 85714
028 H000000 45976
029 000000 Y
030 A000000 3537
030 B000000 5.75
030 C000000 0.00
031 A000000 501
031 B000000 0
032 000000 3036
033 000000 0
034 000000 Y
035 000000 571
036 A000000 Y
<PAGE> PAGE 5
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 4651
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 150000
048 A020000 0.500
048 B010000 100000
048 B020000 0.450
048 C010000 100000
048 C020000 0.400
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 3500000
048 K020000 0.350
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 N
053 C000000 N
054 A000000 Y
054 B000000 N
<PAGE> PAGE 6
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 Y
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
<PAGE> PAGE 7
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 Y
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 958038
071 B000000 840622
071 C000000 895424
071 D000000 94
072 A000000 12
072 B000000 6570
072 C000000 15875
072 D000000 0
072 E000000 0
072 F000000 3822
072 G000000 0
072 H000000 0
072 I000000 2449
<PAGE> PAGE 8
072 J000000 56
072 K000000 0
072 L000000 174
072 M000000 26
072 N000000 96
072 O000000 0
072 P000000 0
072 Q000000 135
072 R000000 49
072 S000000 44
072 T000000 4651
072 U000000 0
072 V000000 0
072 W000000 198
072 X000000 11700
072 Y000000 2
072 Z000000 10747
072AA000000 142775
072BB000000 0
072CC010000 31726
072CC020000 0
072DD010000 8813
072DD020000 1691
072EE000000 38290
073 A010000 0.2300
073 A020000 0.1100
073 B000000 1.0980
073 C000000 0.0000
074 A000000 1
074 B000000 0
074 C000000 100966
074 D000000 41324
074 E000000 7934
074 F000000 973221
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 23488
074 K000000 0
074 L000000 7365
074 M000000 51
074 N000000 1154350
074 O000000 1927
074 P000000 1029
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1763
074 S000000 0
074 T000000 1149631
<PAGE> PAGE 9
074 U010000 41319
074 U020000 18292
074 V010000 18.72
074 V020000 18.63
074 W000000 0.0000
074 X000000 90935
074 Y000000 47801
075 A000000 0
075 B000000 986895
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 B000000 N/A
080 C000000 65000
081 A000000 Y
081 B000000 101
082 A000000 Y
082 B000000 100
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
<PAGE> PAGE 10
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE NICK DALMASO
TITLE ASSISTANT SECRETARY
[PRICE WATERHOUSE LLP LETTERHEAD]
Item 77B
January 9, 1998
To the Shareholders and Board of Trustees of
the Van Kampen American Capital Growth and Income Fund
In planning and performing our audit of the financial statements of Van Kampen
American Capital Growth and Income Fund (the "Fund"), for the year ended
November 30, 1997, we considered its internal control, including control
activities for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments
by management are required to assess the expected benefits and related costs of
control activities. Generally, control activities that are relevant to an
audit pertain to the entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity with generally
accepted accounting principles. Those control activities include the
safeguarding of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of any
specific internal control components does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving internal
control, including control activities for safeguarding securities, that we
consider to be material weaknesses as defined above as of November 30, 1997.
This report is intended solely for the information and use of management and
the Board of Trustees of the Fund and the Securities and Exchange Commission.
/s/ Price Waterhouse LLP
PRICE WATERHOUSE LLP
NSAR ITEM 77C
Van Kampen American Capital Growth and Income Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Growth and Income
Fund (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of a change
of control of the Adviser.
For 32,050,752 Against 640,004
4) For each AC Fund, to Ratify the Selection of Price Waterhouse LLP as
Independent Public Accountants for its Current Fiscal Year.
For 32,511,517 Against 291,591
<PAGE>
GROWTH AND INCOME FUND
A Special Meeting of Shareholders of the Fund was held on May 28, 1997,
where shareholders voted on a new investment advisory agreement, the election
of Trustees and the ratification of Price Waterhouse LLP as independent public
accountants. With regard to the approval of a new investment advisory
agreement between Van Kampen American Capital Asset Management, Inc. and the
Fund, 32,050,752 shares voted for the proposal, 640,004 voted against and
1,367,893 shares abstained. With regard to the election of J. Miles Branagan
as elected trustee by the shareholders of the Fund, 33,294,369 shares voted in
his favor and 764,280 shares withheld. With regard to the election of Richard
M. DeMartini as elected trustee by the shareholders of the Fund, 33,291,266
shares voted in his favor and 767,383 shares withheld. With regard to the
election of Linda Hutton Heagy as elected trustee by the shareholders of the
Fund, 33,287,273 shares voted in her favor and 771,376 shares withheld. With
regard to the election of R. Craig Kennedy as elected trustee by the
shareholders of the Fund, 33,301,802 shares voted in his favor and 756,847
shares withheld. With regard to the election of Jack E. Nelson as elected
trustee by the shareholders of the Fund, 33,278,350 shares voted in his favor
and 780,299 shares abstained. With regard to the election of Jerome L.
Robinson as elected trustee by shareholders of the Fund, 33,270,032 shares
voted in his favor and 788,617 shares withheld. With regard to the election
of Phillip B. Rooney as elected trustee by the shareholders of the Fund,
33,278,427 shares voted in his favor and 780,222 shares withheld. With regard
to the election of Fernando Sisto as elected trustee by shareholders of the
Fund, 33,273,771 shares voted in his favor and 784,878 shares withheld. With
regard to the election of Wayne W. Whalen as elected trustee by the
shareholders of the Fund, 33,296,066 shares voted in his favor and 762,583
shares withheld. With regard to the ratification of Price Waterhouse LLP as
independent public accountants for the Fund's current fiscal year, 32,511,517
shares voted for the proposal, 291,591 shares voted against and 1,255,541
shares abstained.
NSAR ITEM 77O
VKAC Growth and Income Fund
10f-3 Transactions
<TABLE>
<CAPTION>
UNDERWRITING # UNDERWRITING PURCHASED FROM
<S> <C> <C>
1 Microsoft Corporation Goldman, Sachs
2 BA Merchant Services Goldman, Sachs
3 Washington Mutual, Inc. Merrill Lynch
4 Vail Resorts, Inc. Bear Stearns
5 Vail Resorts, Inc. Salomon Brothers
6 National Financial Services Inc. First Boston
7 Provident Companies, Inc. Salomon Brothers
8 Hartford Life, Inc. Goldman Sachs
9 Electricidade de Portugal Goldman Sachs
10 First Union Corporation Santander Invest.
Securities
11 First Union Corporation UBS Securities
12 Nextlink Communications, Inc. Salomon Brothers
<CAPTION>
AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C>
1 58,000 0.52912/17/96
2 2,300 0.01612/18/97
3 28,900 0.19801/22/97
4 35,900 0.29702/03/97
5 2,100 0.01702/03/97
6 39,600 0.19303/05/97
7 42,200 0.71305/05/97
8 37,800 0.13505/21/97
9 25,800 0.03206/16/97
10 16,400 0.03109/18/97
11 19,300 0.03709/18/97
12 17,000 0.12909/26/97
</TABLE>
<PAGE>
Other Firms participating in Underwriting:
Underwriting for #1
- -------------------
Deutsche Morgan Grenfell
Goldman, Sachs & Co.
Salomon Brothers Inc.
Smith Barney Inc.
Alex, Brown & Sons Incorporated
Morgan Stanley & Co. Incorporated
Allen & Company Incorporated
BT Securities Corporation
Bear, Stearns & Co., Inc.
Cowen & Company
Dain Bosworth Incorporated
Dean Witter Reynolds Inc.
Dillon, Read & Co., Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Furman Selz LLC
Edward D. Jones & Co., L.P.
Montgomery Securities
PaineWebber Incorporated
Piper Jaffray Inc.
Prudential Securities Incorporated
Ragen MacKenzie Incorporated
Robertson, Stephens & Company LLC
SoundView Financial Group, Inc.
Underwriting for #2
- -------------------
Goldman, Sachs & Co.
Montgomery Securities
Salomon Brothers Inc.
Robert W. Baird & Co., Incorporated
Sanford C. Bernstein & Co., Inc.
Alex, Brown & Sons Incorporated
Chase Securities Inc.
Cowen & Company
Dain Bosworth Incorporated
Dean Witter Reynolds Inc.
A.G. Edwards & Sons, Inc.
Furman Selz LLC
<PAGE>
Underwriting for #2 (con't)
- ---------------------------
Gerard Klauer Mattison & Co., LLC
Janney Montgomery Scott Inc.
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker Incorporated
J.P. Morgan Securities Inc.
Morgan Stanley & Co. Incorporated
Robertson, Stephens & Company LLC
Wasserstein Perella Securities, Inc.
Wheat First Butcher Singer
Underwriting for #3
- -------------------
Merrill Lynch & Co.
Friedman, Billings, Ramsey & Co., Inc.
Bear, Stearns & Co., Inc.
Alex, Brown & Sons Incorporated
Credit Suisse First Boston Corporation
Dean Witter Reynolds Inc.
A.G. Edwards & Sons, Inc.
Keefe, Bruyette & Woods, Inc.
Lehman Brothers Inc.
Montgomery Securities
J.P. Morgan Securities Inc.
Morgan Stanley & Co., Incorporated
Paine Webber Incorporated
Ragen MacKenzie Incorporated
Smith Barney Inc.
UBS Securities LLC
Wasserstein Perella Securities, Inc.
Sanford C. Bernstein & Co., Inc.
Dain Bosworth Incorporated
D.A. Davidson & Co.
Fox-Pitt, Kelton Inc.
Hoefer & Arnett Incorporated
Jenson Securities Co.
Legg Mason Wood Walker, Incorporated
Ormes Capital Markets, Inc.
Pacific Crest Securities
Piper Jaffray Inc.
Rodman & Renshaw, Inc.
<PAGE>
Underwriting for #3 (con't)
- ---------------------------
Ryan, Beck & Co.
Sandler O'Neill & Partners L.P.
The Seidler Companies Incorporated
Southeast Research Partners, Inc.
Sutro & Co. Incorporated
Utendahl Capital Partners, L.P.
Underwriting for #4 & 5
- -----------------------
Bear, Stearns & Co., Inc.
Furman Selz
Goldman, Sachs & Co.
Salomon Brothers Inc.
Schroder Wertheim & Co.
Smith Barney Inc.
Alex, Brown & Sons Incorporated
BT Securities Corporated
Cowen & Company
Dean Witter Reynolds Inc.
Dillon, Read & Co., Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Hambrecht & Quist LLC
Lazard Freres & Co. LLC
Lehman Brothers, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
Wasserstein Perella Securities, Inc.
Allen & Company Incorporated
Blaylock & Partners, L.P.
Brean Murray & Co., Inc.
Dain Bosworth Incorporated
Doft & Co., Inc.
Gerard Klauer Mattison & Co., LLC
Hanifen, Imhoff, Inc.
Janco Partners, Inc.
Jefferies & Company
Josephthal Lyon & Ross Incorporated
<PAGE>
Underwriting for #4 & 5 (con't)
- -------------------------------
Ladenburg, Thalmann & Co. Inc.
Legg Mason Wood Walker, Incorporated
Ormes Capital Markets, Inc.
Piper Jaffray Inc.
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Sands Brothers & Co., Ltd.
Sutro & Co. Incorporated
Tucker Anthony Incorporated
Underwriting for #6
- -------------------
Credit Suisse First Boston
Morgan Stanley & Co., Incorporated
Merrill Lynch, Peirce, Fenner & Smith Incorporated
Bear, Stearns & Co., Inc.
Alex, Brown & Sons Incorporated
Dean Witter Reynolds, Inc.
Deutsche Morgan Grenfell Inc.
Dillon, Read & Co., Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Goldman, Sachs & Co.
Invemed Associates, Inc.
Lehman Brothers Inc.
J.P. Morgan Securities Inc.
Oppenheimer & Co., Inc.
Paine Webber Incorporated
Salomon Brothers Inc.
Schroder Wertheim & Co., Incorporated
Smith Barney Inc.
Wasserstein Perella Securities, Inc.
Conning & Company
Advest, Inc.
M.R. Beal & Company
Sanford C. Bernstein & Co., Inc.
Blaylock & Partners, L.P.
Dain Bosworth Incorporated
Doley Securities, Inc.
Dowling & Partners Securities, LLC
<PAGE>
Underwriting for #6 (con't)
- ---------------------------
Everen Securities, Inc.
Fox-Pitt, Kelton Inc.
Furman Selz LLC
Janney Montgomery Scott Inc.
Ladenburg, Thalmann & Co. Inc.
WR Lazard, Laidlaw Inc.
McDonald & Company Securities, Inc.
Neuberger & Berman LLC
The Ohio Company
Ormes Capital Markets, Inc.
Paulsen Securities
Ragen MacKenzie Incorporated
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Sands, Brothers & Co., Ltd.
Stephens Inc.
Trilon International Inc.
Utendahl Capital Partners, L.P.
Underwriting for #7
- -------------------
Morgan Stanley & Co. Incorporated
Salomon Brothers Inc.
Advest, Inc.
Sanford C. Bernstein & Co., Inc.
J.C. Bradford & Co.
Donaldson, Lufkin, Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Fox-Pitt, Kelton Inc.
Moors & Cabot, Inc.
The Robinson-Humphrey Company, Inc.
Wasserstein Perella Securities, Inc.
Underwriting for #8
- -------------------
Goldman, Sachs & Co.
Dean Witter Reynolds, Inc.
Merrill Lynch & Co.
Morgan Stanley & Co., Incorporated
<PAGE>
Underwriting for #8 (con't)
- ---------------------------
Smith Barney Inc.
J.C. Bradford & Co.
Credit Suisse First Boston Corporation
A.G. Edwards & Sons, Inc.
Interstate/Johnson Lane Corporation
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker, Incorporated
Piper Jaffray Inc.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Sutro & Co., Incorporated
Wheat, First Securities, Inc.
Lehman Brothers Inc.
Paine Webber Incorporated
Conning & Company
Advest, Inc.
Sanford C. Bernstein & Co., Inc.
Dain Bosworth Incorporated
Dowling & Partners Securities, LLC
Fox-Pitt, Kelton Inc.
Janney Montgomery Scott Inc.
Neuberger & Berman LLC
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Stephens Inc.
Underwriting for #9
- -------------------
Goldman Sachs & Co.
ABN AMRO Chicago Corporation
Lehman Brothers, Inc.
Merrill Lynch & Co.
A.G. Edwards & Sons, Inc.
Morgan Stanley & Co., Incorporated
Prudential Securities Incorporated
Advest, Inc.
Dain Bosworth Incorporated
Edward D. Jones & Co., L.P.
McDonald & Company Securities, Inc.
<PAGE>
Underwriting for #9 (con't)
- ---------------------------
Nesbitt Burns Securities Inc.
Stephens Inc.
Stifel, Nicolaus & Company, Incorporated
Sutro & Co. Incorporated
Underwriting for #10 & 11
- -------------------------
Morgan Stanley & Co. Incorporated
Goldman, Sachs & Co.
Santander Investment Securities Inc.
UBS Securities LLC
Wheat, First Securities, Inc.
Bear, Stearns & Co. Inc.
Sanford C. Bernstein & Co., Inc.
BT Alex. Brown Incorporated
Credit Suisse First Boston Corporation
A.G. Edwards & Sons, Inc.
Friedman, Billings, Ramsey & Co., Inc.
Interstate/Johnson Lane Corporation
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker, Incorporated
Lehman Brothers Inc.
Merrill Lynch, Incorporated
Montgomery Securities
J.P. Morgan Securities Inc.
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
SBC Warburg Dillon Read Inc.
Scott & Stringfellow, Inc.
Smith Barney Inc.
Underwriting for #12
- --------------------
Salomon Brothers Inc.
Merrill Lynch Incorporated
Bear, Stearns & Co., Inc.
Lazard Freres & Co., LLC
BT Alex Brown Incorporated
Credit Suisse First Boston Corporation
Goldman, Sachs & Co.
Lehman Brothers Inc.
<PAGE>
Underwriting for #12 (con't)
- ----------------------------
Montgomery Securities
Morgan Stanley & Co., Incorporated
Smith Barney Inc.
TD Securities Inc.
UBS Securities LLC
Dain Bosworth Incorporated
Everen Securities, Inc.
Furman Selz LLC
McDonald & Company Securities, Inc.
Morgan Keegan, & Company, Inc.
Sutro & Co. Incorporated
Wheat First Butcher Singer
George K. Baum & Company
Hanifen, Imhoff Inc.
Pennsylvania Merchant Group Ltd
Ragen MacKenzie Incorporated
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> GROWTH AND INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 953,133,669<F1>
<INVESTMENTS-AT-VALUE> 1,123,445,336<F1>
<RECEIVABLES> 30,852,931<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 51,582<F1>
<TOTAL-ASSETS> 1,154,349,849<F1>
<PAYABLE-FOR-SECURITIES> 1,927,043<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 2,791,363<F1>
<TOTAL-LIABILITIES> 4,718,406<F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 539,145,381
<SHARES-COMMON-STOCK> 41,318,776
<SHARES-COMMON-PRIOR> 34,824,767
<ACCUMULATED-NII-CURRENT> 2,619,132<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 137,013,165<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 170,134,229<F1>
<NET-ASSETS> 773,333,112
<DIVIDEND-INCOME> 15,874,920<F1>
<INTEREST-INCOME> 6,569,713<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11,697,507)<F1>
<NET-INVESTMENT-INCOME> 10,747,126<F1>
<REALIZED-GAINS-CURRENT> 142,774,617<F1>
<APPREC-INCREASE-CURRENT> 31,725,750<F1>
<NET-CHANGE-FROM-OPS> 185,247,493<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (8,812,655)
<DISTRIBUTIONS-OF-GAINS> (38,290,040)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,661,055
<NUMBER-OF-SHARES-REDEEMED> (8,984,896)
<SHARES-REINVESTED> 2,817,850
<NET-CHANGE-IN-ASSETS> 188,773,557
<ACCUMULATED-NII-PRIOR> 2,561,634<F1>
<ACCUMULATED-GAINS-PRIOR> 47,995,589<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3,821,648<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11,699,507<F1>
<AVERAGE-NET-ASSETS> 679,631,475
<PER-SHARE-NAV-BEGIN> 16.786
<PER-SHARE-NII> 0.226
<PER-SHARE-GAIN-APPREC> 3.032
<PER-SHARE-DIVIDEND> (0.230)
<PER-SHARE-DISTRIBUTIONS> (1.098)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.716
<EXPENSE-RATIO> 0.94
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> GROWTH AND INCOME FUND CLASSB
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 953,133,669<F1>
<INVESTMENTS-AT-VALUE> 1,123,445,336<F1>
<RECEIVABLES> 30,852,931<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 51,582<F1>
<TOTAL-ASSETS> 1,154,349,849<F1>
<PAYABLE-FOR-SECURITIES> 1,927,043<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 2,791,363<F1>
<TOTAL-LIABILITIES> 4,718,406<F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 272,687,569
<SHARES-COMMON-STOCK> 18,291,695
<SHARES-COMMON-PRIOR> 12,577,125
<ACCUMULATED-NII-CURRENT> 2,619,132<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 137,013,165<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 170,134,229<F1>
<NET-ASSETS> 340,768,761
<DIVIDEND-INCOME> 15,874,920<F1>
<INTEREST-INCOME> 6,569,713<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11,697,507)<F1>
<NET-INVESTMENT-INCOME> 10,747,126<F1>
<REALIZED-GAINS-CURRENT> 142,774,617<F1>
<APPREC-INCREASE-CURRENT> 31,725,750<F1>
<NET-CHANGE-FROM-OPS> 185,247,493<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1,691,267)
<DISTRIBUTIONS-OF-GAINS> (13,977,897)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,448,409
<NUMBER-OF-SHARES-REDEEMED> (2,659,743)
<SHARES-REINVESTED> 925,904
<NET-CHANGE-IN-ASSETS> 130,470,673
<ACCUMULATED-NII-PRIOR> 2,561,634<F1>
<ACCUMULATED-GAINS-PRIOR> 47,995,589<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3,821,648<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11,699,507<F1>
<AVERAGE-NET-ASSETS> 276,984,929
<PER-SHARE-NAV-BEGIN> 16.721
<PER-SHARE-NII> 0.097
<PER-SHARE-GAIN-APPREC> 3.020
<PER-SHARE-DIVIDEND> (0.110)
<PER-SHARE-DISTRIBUTIONS> (1.098)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.630
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> GROWTH AND INCOME FUND CLASS C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 953,133,669<F1>
<INVESTMENTS-AT-VALUE> 1,123,445,336<F1>
<RECEIVABLES> 30,852,931<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 51,582<F1>
<TOTAL-ASSETS> 1,154,349,849<F1>
<PAYABLE-FOR-SECURITIES> 1,927,043<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 2,791,363<F1>
<TOTAL-LIABILITIES> 4,718,406<F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28,031,967
<SHARES-COMMON-STOCK> 1,905,824
<SHARES-COMMON-PRIOR> 1,318,799
<ACCUMULATED-NII-CURRENT> 2,619,132<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 137,013,165<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 170,134,229<F1>
<NET-ASSETS> 35,529,570
<DIVIDEND-INCOME> 15,874,920<F1>
<INTEREST-INCOME> 6,569,713<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11,697,507)<F1>
<NET-INVESTMENT-INCOME> 10,747,126<F1>
<REALIZED-GAINS-CURRENT> 142,774,617<F1>
<APPREC-INCREASE-CURRENT> 31,725,750<F1>
<NET-CHANGE-FROM-OPS> 185,247,493<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (185,706)
<DISTRIBUTIONS-OF-GAINS> (1,489,104)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 936,448
<NUMBER-OF-SHARES-REDEEMED> (431,229)
<SHARES-REINVESTED> 81,806
<NET-CHANGE-IN-ASSETS> 13,459,765
<ACCUMULATED-NII-PRIOR> 2,561,634<F1>
<ACCUMULATED-GAINS-PRIOR> 47,995,589<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3,821,648<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11,699,507<F1>
<AVERAGE-NET-ASSETS> 30,278,200
<PER-SHARE-NAV-BEGIN> 16.734
<PER-SHARE-NII> 0.096
<PER-SHARE-GAIN-APPREC> 3.021
<PER-SHARE-DIVIDEND> (0.110)
<PER-SHARE-DISTRIBUTIONS> (1.098)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.643
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
