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000 A000000 04/30/96
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
002 D020000 5034
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
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007 C010100 1
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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 MANAGEMENT COMPANY
008 B000001 A
008 C000001 801-8327
008 D010001 BOSTON
008 D020001 MA
008 D030001 02110
010 A000001 KEYSTONE INVESTMEN, INC ("KII")
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
010 C040001 5034
011 A000001 KEYSTONE INVESTMENT DISTRIBUTORS COMPANY
011 B000001 8-395
011 C010001 BOSTON
011 C020001 MA
011 C030001 02110
011 C040001 5034
012 A000001 KEYSTONE INVESTOR RESOURCE CENTER
<PAGE> PAGE 2
012 B000001 84-1571
012 C010001 CAMBRIDGE
012 C020001 MA
012 C030001 02142
013 A000001 KPMG PEAT MARWICK, LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
015 A000001 STATE STREET BANK & TRUST
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 21
019 C000000 KEYGROUPPA
020 A000001 PAINE WEBBER, INC.
020 B000001 13-2638166
020 C000001 3
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 3
022 A000001 BEAR, STEARNS SECURITIES CORP.
022 B000001 13-3299429
022 C000001 35520
022 D000001 66182
022 A000002 PAINE WEBBER INC.
022 B000002 13-2638166
022 C000002 44003
022 D000002 45127
022 A000003 MORGAN STANLEY & CO., INC.
022 B000003 13-2655998
022 C000003 52136
022 D000003 24550
022 A000004 GOLDMAN SACHS
022 B000004 13-5108880
022 C000004 69334
022 D000004 7029
022 A000005 AUTRANET INC.
022 B000005 13-2961507
022 C000005 29679
022 D000005 41049
<PAGE> PAGE 3
022 A000006 LEHMAN BROS. INC.
022 C000006 26078
022 D000006 25331
022 A000007 BANK OF NEW YORK
022 B000007 13-5160382
022 C000007 4248
022 D000007 29467
022 A000008 UBS SECURITIES, INC.
022 B000008 13-2932996
022 C000008 12082
022 D000008 15745
022 A000009 DONALDSON, LUFKIN & JENRETTE
022 B000009 13-2741729
022 C000009 13523
022 D000009 13839
022 A000010 SMITH BARNEY SHEARSON INC.,
022 B000010 13-1912900
022 C000010 15273
022 D000010 4976
023 C000000 1341239
023 D000000 1457864
024 000000 N
026 A000000 Y
026 B000000 Y
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE J. KEVIN KENELY
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) CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 264,426,336
<INVESTMENTS-AT-VALUE> 257,786,170
<RECEIVABLES> 18,847,691
<ASSETS-OTHER> 411,419
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 277,045,280
<PAYABLE-FOR-SECURITIES> 15,309,069
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 721,629
<TOTAL-LIABILITIES> 16,030,698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 294,206,831
<SHARES-COMMON-STOCK> 17,593,490
<SHARES-COMMON-PRIOR> 20,148,901
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,443,274)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (25,433,229)
<ACCUM-APPREC-OR-DEPREC> (6,315,746)
<NET-ASSETS> 261,014,582
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,942,338
<OTHER-INCOME> 0
<EXPENSES-NET> (2,784,634)
<NET-INVESTMENT-INCOME> 7,157,704
<REALIZED-GAINS-CURRENT> 3,616,199
<APPREC-INCREASE-CURRENT> (13,079,633)
<NET-CHANGE-FROM-OPS> (2,305,730)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,025,766)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,926,499
<NUMBER-OF-SHARES-REDEEMED> (4,805,295)
<SHARES-REINVESTED> 323,385
<NET-CHANGE-IN-ASSETS> (49,776,906)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (575,212)
<OVERDIST-NET-GAINS-PRIOR> (29,049,428)
<GROSS-ADVISORY-FEES> (849,025)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,802,293)
<AVERAGE-NET-ASSETS> 289,669,047
<PER-SHARE-NAV-BEGIN> 15.42
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> (0.53)
<PER-SHARE-DIVIDEND> (0.43)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.84
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>