<PAGE> PAGE 1
000 A000000 04/30/95
000 C000000 0000055611
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 KEYSTONE QUALITY BOND FUND (B-1)
001 B000000 811-092
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
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 KEYSTONE INVESTMENT, INC.
008 B000001 A
008 C000001 801-8327
008 D010001 BOSTON
008 D020001 MA
008 D030001 02110
010 A000001 KEYSTONE INVESTMENT DISTRIBUTORS COMPANY
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
010 C040001 5034
022 A000001 SANWA BANK
022 B000001 13-3154528
022 C000001 269793
022 D000001 0
022 A000002 SMITH BARNEY
022 B000002 13-1912900
022 C000002 214607
022 D000002 0
<PAGE> PAGE 2
022 A000003 PAINE WEBBER
022 B000003 13-2638166
022 C000003 197324
022 D000003 0
022 A000004 GOLDMAN SACHS
022 B000004 13-5108880
022 C000004 148749
022 D000004 0
022 A000005 PRUDENTIAL BACHE
022 B000005 22-2347336
022 C000005 141842
022 D000005 0
022 A000006 J.B. WERE & SONS, INC
022 B000006 13-3077027
022 C000006 34676
022 D000006 0
022 A000007 ALBERT WIL
022 C000007 30741
022 D000007 0
022 A000008 COWEN & CO.
022 B000008 13-5616116
022 C000008 9701
022 D000008 0
022 A000009 BANKERS TRUST
022 B000009 13-4941247
022 C000009 4387
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 1628395
023 D000000 0
028 A010000 3795
028 A020000 1057
028 A030000 0
028 A040000 9216
028 B010000 12073
028 B020000 1074
028 B030000 0
028 B040000 10039
028 C010000 5867
028 C020000 1073
028 C030000 0
028 C040000 13331
028 D010000 2246
028 D020000 1013
028 D030000 0
028 D040000 18571
028 E010000 2458
028 E020000 989
028 E030000 0
028 E040000 6856
<PAGE> PAGE 3
028 F010000 1886
028 F020000 974
028 F030000 0
028 F040000 7462
028 G010000 28325
028 G020000 6180
028 G030000 0
028 G040000 65475
028 H000000 0
034 000000 Y
035 000000 239
036 A000000 N
036 B000000 8
037 000000 N
038 000000 0
039 000000 Y
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 1563
044 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.5
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 33.4
062 N000000 23.8
062 O000000 0.0
062 P000000 25.9
062 Q000000 13.1
062 R000000 3.3
063 A000000 0
063 B000000 11.8
064 A000000 N
064 B000000 N
070 A010000 Y
<PAGE> PAGE 4
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 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 308720
071 B000000 329648
071 C000000 300968
071 D000000 103
072 A000000 6
072 B000000 12729
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 954
072 G000000 0
072 H000000 0
072 I000000 416
072 J000000 106
072 K000000 0
072 L000000 21
<PAGE> PAGE 5
072 M000000 32
072 N000000 24
072 O000000 0
072 P000000 0
072 Q000000 11
072 R000000 13
072 S000000 7
072 T000000 1563
072 U000000 0
072 V000000 0
072 W000000 7
072 X000000 3154
072 Y000000 0
072 Z000000 9575
072AA000000 0
072BB000000 11645
072CC010000 20292
072CC020000 0
072DD010000 10122
072DD020000 0
072EE000000 0
073 A010000 0.4700
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 1636
074 C000000 0
074 D000000 292604
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 16772
074 K000000 0
074 L000000 5402
074 M000000 63
074 N000000 316477
074 O000000 10241
074 P000000 0
074 Q000000 0
074 R010000 1830
074 R020000 0
074 R030000 0
074 R040000 0
074 S000000 0
074 T000000 304406
074 U010000 20539
074 U020000 0
074 V010000 14.82
<PAGE> PAGE 6
074 V020000 0.00
074 W000000 0.0000
074 X000000 15575
074 Y000000 0
075 A000000 0
075 B000000 317338
076 000000 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
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 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
SIGNATURE KEVIN MORRISSEY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> KEYSTONE QUALITY BOND FUND (B-1)
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-START> NOV-01-1994
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 295,469,495
<INVESTMENTS-AT-VALUE> 294,240,304
<RECEIVABLES> 22,174,179
<ASSETS-OTHER> 62,634
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 316,477,117
<PAYABLE-FOR-SECURITIES> 10,240,579
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,830,992
<TOTAL-LIABILITIES> 12,071,571
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 340,926,985
<SHARES-COMMON-STOCK> 20,538,965
<SHARES-COMMON-PRIOR> 22,658,079
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,250,979)
<ACCUMULATED-NET-GAINS> (34,041,269)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,229,191)
<NET-ASSETS> 304,405,546
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12,729,072
<OTHER-INCOME> 0
<EXPENSES-NET> (3,154,177)
<NET-INVESTMENT-INCOME> 9,574,895
<REALIZED-GAINS-CURRENT> (11,644,811)
<APPREC-INCREASE-CURRENT> 20,292,048
<NET-CHANGE-FROM-OPS> 18,222,132
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,122,016)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,956,992
<NUMBER-OF-SHARES-REDEEMED> (4,500,365)
<SHARES-REINVESTED> 424,258
<NET-CHANGE-IN-ASSETS> (22,869,990)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (703,858)
<OVERDIST-NET-GAINS-PRIOR> (22,396,458)
<GROSS-ADVISORY-FEES> (953,945)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,154,177)
<AVERAGE-NET-ASSETS> 317,338,397
<PER-SHARE-NAV-BEGIN> 14.44
<PER-SHARE-NII> 0.44
<PER-SHARE-GAIN-APPREC> 0.41
<PER-SHARE-DIVIDEND> (0.47)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.82
<EXPENSE-RATIO> 0.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>