ASTRA STRATEGIC INVESTMENT SERIES
NSAR-B, 1996-12-30
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<PAGE>      PAGE  1
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001 A000000 ASTRA STRATEGIC INVESTMENT SERIES
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002 A000000 750 B STREET, SUITE 2350
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007 C010300  3
007 C020300 ADJUSTABLE US GOVERNMENT SECURITIES TRUST II
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007 C010400  4
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007 C021000 ADJUSTABLE US GOVERNMENT SECURITIES IV
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<PAGE>      PAGE  2
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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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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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042 F000800   0
042 G000800   0
042 H000800   0
043  000800    489
044  000800      0
045  000800 N
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048 A020800 0.000
048 B010800        0
048 B020800 0.000
048 C010800        0
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048 D020800 0.000
048 E010800        0
048 E020800 0.000
048 F010800        0
048 F020800 0.000
048 G010800        0
048 G020800 0.000
048 H010800        0
048 H020800 0.000
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<PAGE>      PAGE  20
048 I020800 0.000
048 J010800        0
048 J020800 0.000
048 K010800        0
048 K020800 0.000
058 A000800 N
059  000800 Y
060 A000800 N
060 B000800 N
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071 A000800      3568
071 B000800     32739
071 C000800     46019
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072 B000800        0
072 C000800     3292
072 D000800        0
072 E000800        0
072 F000800        0
072 G000800       49
072 H000800        0
072 I000800      246
072 J000800        0
072 K000800        0
072 L000800       16
072 M000800       15
072 N000800       20
072 O000800        0
072 P000800        0
072 Q000800        0
072 R000800        5
072 S000800       27
072 T000800      489
072 U000800       12
072 V000800        0
072 W000800       70
072 X000800      949
072 Y000800        0
072 Z000800     2343
072AA000800        0
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072CC010800     8011
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072DD020800        0
072EE000800        0
073 A010800   0.2550
073 A020800   0.0000
073 B000800   0.0000
073 C000800   0.0120
<PAGE>      PAGE  21
074 A000800        0
074 B000800        0
074 C000800        0
074 D000800        0
074 E000800        0
074 F000800        0
074 G000800        0
074 H000800        0
074 I000800    36013
074 J000800        0
074 K000800        0
074 L000800      213
074 M000800       53
074 N000800    36279
074 O000800        0
074 P000800        0
074 Q000800        0
074 R010800        0
074 R020800        0
074 R030800        0
074 R040800      225
074 S000800        0
074 T000800    36054
074 U010800     6533
074 U020800        0
074 V010800     5.52
074 V020800     0.00
074 W000800   0.0000
074 X000800     3036
074 Y000800        0
075 A000800        0
075 B000800    48892
076  000800     0.00
028 A010900         0
028 A020900        11
028 A030900         0
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028 B010900         0
028 B020900        11
028 B030900         0
028 B040900       394
028 C010900         0
028 C020900        10
028 C030900         0
028 C040900       368
028 D010900         0
028 D020900        28
028 D030900         0
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028 E020900        10
<PAGE>      PAGE  22
028 E030900         0
028 E040900       271
028 F010900         0
028 F020900         9
028 F030900         0
028 F040900       365
028 G010900         0
028 G020900        79
028 G030900         0
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031 A000900      0
031 B000900      0
032  000900      0
033  000900      0
034  000900 Y
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036 A000900 N
036 B000900      0
037  000900 Y
038  000900      0
039  000900 N
040  000900 Y
041  000900 Y
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042 B000900   0
042 C000900 100
042 D000900   0
042 E000900   0
042 F000900   0
042 G000900   0
042 H000900   0
043  000900     91
044  000900      0
045  000900 N
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048 A010900        0
048 A020900 0.000
048 B010900        0
048 B020900 0.000
048 C010900        0
048 C020900 0.000
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048 D020900 0.000
048 E010900        0
048 E020900 0.000
048 F010900        0
<PAGE>      PAGE  23
048 F020900 0.000
048 G010900        0
048 G020900 0.000
048 H010900        0
048 H020900 0.000
048 I010900        0
048 I020900 0.000
048 J010900        0
048 J020900 0.000
048 K010900        0
048 K020900 0.000
058 A000900 N
059  000900 Y
060 A000900 N
060 B000900 N
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071 A000900       688
071 B000900      8046
071 C000900      8714
071 D000900    7
072 A000900 12
072 B000900        0
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072 D000900        0
072 E000900        0
072 F000900        0
072 G000900        9
072 H000900        0
072 I000900       44
072 J000900        0
072 K000900        0
072 L000900        4
072 M000900        2
072 N000900        6
072 O000900        0
072 P000900        0
072 Q000900        0
072 R000900        2
072 S000900       11
072 T000900       91
072 U000900        7
072 V000900        0
072 W000900       22
072 X000900      198
072 Y000900        0
072 Z000900      407
072AA000900        0
072BB000900     8867
072CC010900     8279
072CC020900        0
072DD010900      545
<PAGE>      PAGE  24
072DD020900        0
072EE000900        0
073 A010900   0.1260
073 A020900   0.0000
073 B000900   0.0000
073 C000900   0.0390
074 A000900        0
074 B000900        0
074 C000900        0
074 D000900        0
074 E000900        0
074 F000900        0
074 G000900        0
074 H000900        0
074 I000900     6352
074 J000900        0
074 K000900        0
074 L000900       42
074 M000900       12
074 N000900     6406
074 O000900        0
074 P000900        0
074 Q000900        0
074 R010900        0
074 R020900        0
074 R030900        0
074 R040900      150
074 S000900        0
074 T000900     6256
074 U010900     2022
074 U020900        0
074 V010900     3.09
074 V020900     0.00
074 W000900   0.0000
074 X000900      910
074 Y000900        0
075 A000900        0
075 B000900     9062
076  000900     0.00
028 A011000         0
028 A021000         5
028 A031000         0
028 A041000        85
028 B011000         0
028 B021000         3
028 B031000         0
028 B041000        58
028 C011000         0
028 C021000         3
028 C031000         0
028 C041000       175
<PAGE>      PAGE  25
028 D011000         0
028 D021000         3
028 D031000         0
028 D041000        87
028 E011000         0
028 E021000         3
028 E031000         0
028 E041000       232
028 F011000         0
028 F021000         3
028 F031000         0
028 F041000        53
028 G011000         0
028 G021000        20
028 G031000         0
028 G041000       690
028 H001000         0
029  001000 N
030 A001000      0
030 B001000  0.00
030 C001000  0.00
031 A001000      0
031 B001000      0
032  001000      0
033  001000      0
034  001000 Y
035  001000      0
036 A001000 N
036 B001000      0
037  001000 N
038  001000      0
039  001000 N
040  001000 Y
041  001000 Y
042 A001000   0
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042 D001000   0
042 E001000   0
042 F001000   0
042 G001000   0
042 H001000   0
043  001000     13
044  001000      0
045  001000 N
048  001000  0.000
048 A011000        0
048 A021000 0.000
048 B011000        0
048 B021000 0.000
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<PAGE>      PAGE  26
048 C021000 0.000
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048 E021000 0.000
048 F011000        0
048 F021000 0.000
048 G011000        0
048 G021000 0.000
048 H011000        0
048 H021000 0.000
048 I011000        0
048 I021000 0.000
048 J011000        0
048 J021000 0.000
048 K011000        0
048 K021000 0.000
058 A001000 N
059  001000 Y
060 A001000 N
060 B001000 N
061  001000    50000
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072 F001000        0
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072 J001000        0
072 K001000        0
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072 M001000        0
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072 O001000        0
072 P001000        0
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072 U001000       11
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072 Y001000        0
<PAGE>      PAGE  27
072 Z001000       86
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072EE001000        0
073 A011000   0.2370
073 A021000   0.0000
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074 C001000        0
074 D001000        0
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074 F001000        0
074 G001000        0
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074 T001000     1485
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028 A011100         0
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<PAGE>      PAGE  28
028 B031100         0
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029  001100 N
030 A001100      0
030 B001100  0.00
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031 A001100      0
031 B001100      0
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033  001100      0
034  001100 Y
035  001100      0
036 A001100 N
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037  001100 N
038  001100      0
039  001100 N
040  001100 Y
041  001100 Y
042 A001100   0
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042 C001100 100
042 D001100   0
042 E001100   0
042 F001100   0
042 G001100   0
042 H001100   0
043  001100     18
044  001100      0
045  001100 N
<PAGE>      PAGE  29
048  001100  0.000
048 A011100        0
048 A021100 0.000
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048 B021100 0.000
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048 D021100 0.000
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048 E021100 0.000
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048 I011100        0
048 I021100 0.000
048 J011100        0
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048 K021100 0.000
058 A001100 N
059  001100 Y
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<PAGE>      PAGE  30
072 T001100       18
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072DD021100        0
072EE001100        0
073 A011100   0.1530
073 A021100   0.0000
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074 D001100        0
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<PAGE>      PAGE  31
SIGNATURE   WENDY MCGEE                                  
TITLE       LEGAL ASSISTANT     
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 02
   <NAME> ADJUSTABLE U.S. GOVERNMENT SECURITIES TRUST I
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
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<INVESTMENTS-AT-VALUE>                        48593777
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<SHARES-REINVESTED>                             314016
<NET-CHANGE-IN-ASSETS>                      (46360061)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1386104
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<PER-SHARE-NAV-BEGIN>                             5.58
<PER-SHARE-NII>                                   .246
<PER-SHARE-GAIN-APPREC>                         (.077)
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<EXPENSE-RATIO>                                   2.05
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 03
   <NAME> ADJUSTABLE U.S. GOVERNMENT SECURITIES TRUST II
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                          3672032
<INVESTMENTS-AT-VALUE>                         3227023
<RECEIVABLES>                                    18665
<ASSETS-OTHER>                                    5521
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3251209
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         9544
<TOTAL-LIABILITIES>                               9544
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       8102533
<SHARES-COMMON-STOCK>                           582070
<SHARES-COMMON-PRIOR>                           904298
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (4415859)
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<DIVIDEND-INCOME>                               269751
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<NET-INVESTMENT-INCOME>                         192554
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<SHARES-REINVESTED>                              27146
<NET-CHANGE-IN-ASSETS>                       (1891908)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (3930992)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  77197
<AVERAGE-NET-ASSETS>                           4013063
<PER-SHARE-NAV-BEGIN>                             5.67
<PER-SHARE-NII>                                   .285
<PER-SHARE-GAIN-APPREC>                           (.1)
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<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               5.57
<EXPENSE-RATIO>                                   1.92
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 05
   <NAME> ADJUSTABLE RATE SECURITIES TRUST I
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                          3568036
<INVESTMENTS-AT-VALUE>                         2062638
<RECEIVABLES>                                    13594
<ASSETS-OTHER>                                    3811
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 2080043
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        19729
<TOTAL-LIABILITIES>                              19729
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      21997797
<SHARES-COMMON-STOCK>                           661615
<SHARES-COMMON-PRIOR>                          1474070
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (18432085)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (1505398)
<NET-ASSETS>                                   2060314
<DIVIDEND-INCOME>                               197760
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                   19249
<EXPENSES-NET>                                   47198
<NET-INVESTMENT-INCOME>                         169811
<REALIZED-GAINS-CURRENT>                     (3175937)
<APPREC-INCREASE-CURRENT>                      2984783
<NET-CHANGE-FROM-OPS>                          (21343)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       186221
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                             5030
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                     835943
<SHARES-REINVESTED>                              23488
<NET-CHANGE-IN-ASSETS>                       (2743806)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                   (15256148)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  47198
<AVERAGE-NET-ASSETS>                           2961444
<PER-SHARE-NAV-BEGIN>                             3.26
<PER-SHARE-NII>                                   .169
<PER-SHARE-GAIN-APPREC>                         (.145)
<PER-SHARE-DIVIDEND>                              .169
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                            (.005)
<PER-SHARE-NAV-END>                               3.11
<EXPENSE-RATIO>                                   1.59
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 06
   <NAME> ADJUSTABLE RATE SECURITIES TRUST II
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 08
   <NAME> ADJUSTABLE U.S. GOVERNMENT SECURITIES TRUST I-A
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 09
   <NAME> ADJUSTABLE RATE SECURITIES TRUST I-A
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 10
   <NAME> ADJUSTABLE U.S. GOVERNMENT SECURITIES IV
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000061435
<NAME> ASTRA STRATEGIC INVESTMENT SERIES
<SERIES>
   <NUMBER> 11
   <NAME> ADJUSTABLE RATE SECURITIES TRUST IV
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>


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