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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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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054 F000100 N
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054 M000100 N
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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SIGNATURE MICHAEL J ROLAND
TITLE SENIOR V.P.
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<NAME> HIGH YIELD FUND--CLASS A
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<TABLE> <S> <C>
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<NAME> HIGH YIELD FUND--CLASS B
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<TABLE> <S> <C>
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<NAME> HIGH YIELD FUND--M
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</TABLE>
<TABLE> <S> <C>
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<SERIES>
<NUMBER> 011
<NAME> MAGNA CAP FUND--CLASS A
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<RECEIVABLES> 718,172
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<OTHER-ITEMS-ASSETS> 10,366
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<NET-ASSETS> 233,494,234
<DIVIDEND-INCOME> 2,383,752
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<EXPENSES-NET> (1,746,760)
<NET-INVESTMENT-INCOME> 665,944
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<DISTRIBUTIONS-OF-INCOME> (913,058)
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<NUMBER-OF-SHARES-SOLD> 25,645,392
<NUMBER-OF-SHARES-REDEEMED> (34,047,239)
<SHARES-REINVESTED> 705,020
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> MAGNA CAP FUND--CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-17-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 114,744,324
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<NET-INVESTMENT-INCOME> 216
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<NUMBER-OF-SHARES-SOLD> 25,645,392
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 013
<NAME> MAGNA CAP FUND--CLASS M
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-17-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 114,744,324
<INVESTMENTS-AT-VALUE> 233,005,161
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</TABLE>