<DISPLAY>
<FILER-NAME> PILGRIM AMERICA INVESTMENT FUNDS, INC.
[FILE-NUMBER] 811-1939
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PAGE 1
000 A000000 12/31/96
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002 B000000 PHOENIX
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008 A00AA01 PILGRIM AMERICA INVESTMENTS, INC.
008 B00AA01 A
008 C00AA01 801-48282
008 D01AA01 PHOENIX
008 D02AA01 AZ
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008 D04AA01 4424
010 A00AA01 PILGRIM AMERICA GROUP, INC.
010 C01AA01 PHOENIX
010 C02AA01 AZ
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010 C04AA01 4424
011 A00AA01 PILGRIM AMERICA SECURITIES, INC.
011 B00AA01 8-48020
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012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
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012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 LOS ANGELES
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PAGE 7
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PAGE 11
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PAGE 12
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SIGNATURE MICHAEL J. ROLAND
TITLE SR. VICE PRESIDENT
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<NAME> Pilgrim America Investment Funds, Inc.
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