MUTUAL BENEFIT FUND
NSAR-B, 1996-02-22
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<PAGE>      PAGE  1
000 B000000 12/31/95
000 C000000 0000069260
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 MAP-EQUITY FUND
001 B000000 811-2046
001 C000000 2014818356
002 A000000 520 BROAD ST.
002 B000000 NEWARK
002 C000000 NJ
002 D010000 07102
002 D020000 3111
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
020 A000001 DONALDSON. LUFKIN & JENRETTE
020 B000001 13-2741729
020 C000001     15
020 A000002 INSTINET
020 B000002 13-3443395
020 C000002      7
020 A000003 ABEL/NOSER
020 B000003 13-2833083
020 C000003      7
020 A000004 JEFFERIES
020 B000004 95-2622900
020 C000004      3
020 A000005 MORGAN STANLEY
020 B000005 13-2655998
020 C000005      2
020 A000006 LIPPER ANALYTICAL
020 B000006 13-2792478
020 C000006      2
020 A000007 BEAR, STEARNS
020 B000007 13-3299429
020 C000007      2
020 A000008 CS FIRST BOSTON
020 B000008 13-5659485
020 C000008      2
020 A000009 OPPENHEIMER
020 B000009 13-2798343
020 C000009      2
020 A000010 LEHMAN BROS.
<PAGE>      PAGE  2
020 B000010 13-2518466
020 C000010      1
021  000000       50
022 A000001 DEAN WITTER
022 B000001 94-1671384
022 C000001     14605
022 D000001      3903
022 A000002 FIRST CHICAGO
022 B000002 36-3595942
022 C000002     13295
022 D000002      4550
022 A000003 LEHMAN
022 B000003 13-2518466
022 C000003     10489
022 D000003       994
022 A000004 SMITH BARNEY
022 B000004 13-1912900
022 C000004      7169
022 D000004       448
022 A000005 MORGAN STANLEY
022 B000005 13-2655998
022 C000005      6048
022 D000005       223
022 A000006 CHEMICAL
022 B000006 13-5227302
022 C000006      2132
022 D000006         0
022 A000007 ALLIANCE WORLDWIDE PRIV. FD.
022 C000007         0
022 D000007      1328
022 A000008 LUXOTTICA GROUP S.P.A.
022 C000008         0
022 D000008       924
022 A000009 PAINE WEBBER GLOBAL INCOME FD.
022 C000009         0
022 D000009       183
022 A000010 MERRILL LYNCH
022 B000010 13-5674085
022 C000010         0
022 D000010        87
023 C000000      55502
023 D000000      14509
028 A010000        93
028 A020000         0
028 A030000         0
028 A040000       130
028 B010000        63
028 B020000      1555
028 B030000         0
028 B040000       249
028 C010000       107
<PAGE>      PAGE  3
028 C020000         0
028 C030000         0
028 C040000       940
028 D010000        66
028 D020000         0
028 D030000         0
028 D040000       137
028 E010000        46
028 E020000         0
028 E030000         0
028 E040000       192
028 F010000        61
028 F020000      5697
028 F030000         0
028 F040000       167
028 G010000       436
028 G020000      7251
028 G030000         0
028 G040000      1816
028 H000000       275
029  000000 Y
030 A000000     27
030 B000000  4.75
030 C000000  1.00
031 A000000      0
031 B000000      0
032  000000     20
033  000000      7
062 A000000 N
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
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   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
062 Q000000   0.0
062 R000000   0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
<PAGE>      PAGE  4
066 F000000 N
066 G000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
071 A000000     18178
071 B000000     23965
071 C000000     46140
071 D000000   39
072 A000000 12
072 B000000      398
072 C000000     1251
072 D000000        0
072 E000000        0
072 F000000      177
072 G000000        0
072 H000000        0
072 I000000       66
072 J000000       70
072 K000000        0
072 L000000       17
072 M000000        7
072 N000000       17
072 O000000       10
072 P000000        0
072 Q000000        0
072 R000000       31
072 S000000       19
072 T000000        0
072 U000000        0
072 V000000        0
072 W000000       17
072 X000000      431
072 Y000000        0
072 Z000000     1217
072AA000000     6870
072BB000000     1957
072CC010000     9050
072CC020000        0
072DD010000     1213
072DD020000        0
072EE000000     6247
073 A010000   0.4300
073 A020000   0.0000
073 B000000   2.2100
073 C000000   0.0000
074 A000000       86
074 B000000        0
074 C000000    10084
074 D000000      234
<PAGE>      PAGE  5
074 E000000       48
074 F000000    50275
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000       82
074 K000000        0
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074 M000000        8
074 N000000    60952
074 O000000      229
074 P000000       45
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000      211
074 S000000        0
074 T000000    60467
074 U010000     3124
074 U020000        0
074 V010000    19.36
074 V020000     0.00
074 W000000   0.0000
074 X000000     1680
074 Y000000        0
075 A000000        0
075 B000000    52932
076  000000     0.00
077 A000000 Y
077 B000000 Y
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 N
077 Q020000 N
077 Q030000 N
078  000000 N
080 A000000 NATIONAL UNION FIRE INS. CO. OF PITTSBURGH
080 C000000     1500
<PAGE>      PAGE  6
081 A000000 Y
081 B000000   3
082 A000000 Y
082 B000000       25
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
SIGNATURE   ALBERT W. LEIER                              
TITLE       V.P. & TREASURER    
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT OF MAP-EQUITY FUND DATED DECEMBER 31, 1995 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000069260
<NAME> MAP-EQUITY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                            44473
<INVESTMENTS-AT-VALUE>                           60642
<RECEIVABLES>                                      215
<ASSETS-OTHER>                                      95
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   60952
<PAYABLE-FOR-SECURITIES>                           229
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          256
<TOTAL-LIABILITIES>                                485
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         41504
<SHARES-COMMON-STOCK>                             3124
<SHARES-COMMON-PRIOR>                             2888
<ACCUMULATED-NII-CURRENT>                           76
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (405)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         16168
<NET-ASSETS>                                     60467
<DIVIDEND-INCOME>                                 1251
<INTEREST-INCOME>                                  398
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     431
<NET-INVESTMENT-INCOME>                           1217
<REALIZED-GAINS-CURRENT>                          4912
<APPREC-INCREASE-CURRENT>                         9050
<NET-CHANGE-FROM-OPS>                            15179
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1213
<DISTRIBUTIONS-OF-GAINS>                          6247
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             47
<NUMBER-OF-SHARES-REDEEMED>                        189
<SHARES-REINVESTED>                                378
<NET-CHANGE-IN-ASSETS>                           12337
<ACCUMULATED-NII-PRIOR>                             71
<ACCUMULATED-GAINS-PRIOR>                          930
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              177
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    431
<AVERAGE-NET-ASSETS>                             52932
<PER-SHARE-NAV-BEGIN>                            16.67
<PER-SHARE-NII>                                   0.43
<PER-SHARE-GAIN-APPREC>                           4.96
<PER-SHARE-DIVIDEND>                              0.43
<PER-SHARE-DISTRIBUTIONS>                         2.21
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.36
<EXPENSE-RATIO>                                   0.81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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