<PAGE> PAGE 1
000 A000000 06/30/97
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 JEFFERIES
020 B000001 95-2622900
020 C000001 12
020 A000002 DONALDSON, LUFKIN & JENRETTE
020 B000002 13-2741729
020 C000002 10
020 A000003 INSTINET
020 B000003 13-3443395
020 C000003 7
020 A000004 OPPENHEIMER
020 B000004 13-2798343
020 C000004 2
020 A000005 MERRILL, LYNCH
020 B000005 13-5674085
020 C000005 2
020 A000006 WILLIAM BLAIR
020 B000006 36-2214610
020 C000006 1
020 A000007 PRUDENTIAL
020 B000007 22-2347336
020 C000007 1
020 A000008 BEAR, STEARNS
020 B000008 13-3299429
020 C000008 1
020 A000009 CANTOR FITZGERALD
020 B000009 13-3680184
020 C000009 1
020 A000010 PAINE WEBBER
<PAGE> PAGE 2
020 B000010 13-2638166
020 C000010 1
021 000000 40
022 A000001 DEAN WITTER
022 B000001 94-1671384
022 C000001 20160
022 D000001 3209
022 A000002 FIRST CHICAGO
022 B000002 36-3595942
022 C000002 16623
022 D000002 838
022 A000003 SMITH BARNEY
022 B000003 13-1912900
022 C000003 8194
022 D000003 5558
022 A000004 LEHMAN
022 B000004 13-2518466
022 C000004 7879
022 D000004 3527
022 A000005 MERRILL, LYNCH
022 B000005 13-5674085
022 C000005 6779
022 D000005 740
022 A000006 QUEST FOR VALUE
022 C000006 0
022 D000006 4260
022 A000007 CLARKE
022 B000007 13-2969143
022 C000007 2987
022 D000007 0
022 A000008 NATIONAL EDUCATION
022 B000008 95-2774428
022 C000008 0
022 D000008 1634
022 A000009 HERZOG HEINE GEDULD
022 B000009 13-1955436
022 C000009 0
022 D000009 563
022 A000010 GEMINI II
022 C000010 0
022 D000010 557
023 C000000 62705
023 D000000 21281
028 A010000 300
028 A020000 0
028 A030000 0
028 A040000 240
028 B010000 729
028 B020000 0
028 B030000 0
028 B040000 132
<PAGE> PAGE 3
028 C010000 164
028 C020000 0
028 C030000 0
028 C040000 171
028 D010000 138
028 D020000 0
028 D030000 0
028 D040000 151
028 E010000 138
028 E020000 0
028 E030000 0
028 E040000 345
028 F010000 179
028 F020000 0
028 F030000 0
028 F040000 204
028 G010000 1648
028 G020000 0
028 G030000 0
028 G040000 1242
028 H000000 1127
029 000000 Y
030 A000000 13
030 B000000 4.75
030 C000000 1.00
031 A000000 0
031 B000000 0
032 000000 6
033 000000 7
034 000000 Y
035 000000 0
036 A000000 Y
036 B000000 0
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
<PAGE> PAGE 4
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
071 A000000 20815
071 B000000 28819
071 C000000 65729
071 D000000 32
072 A000000 6
072 B000000 363
072 C000000 435
072 D000000 0
072 E000000 0
072 F000000 177
072 G000000 0
072 H000000 0
072 I000000 38
072 J000000 38
072 K000000 0
072 L000000 6
072 M000000 4
072 N000000 8
072 O000000 8
072 P000000 0
072 Q000000 0
072 R000000 14
072 S000000 10
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 9
072 X000000 312
072 Y000000 0
072 Z000000 486
072AA000000 8157
072BB000000 399
072CC010000 4988
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
<PAGE> PAGE 5
073 C000000 0.0000
074 A000000 66
074 B000000 0
074 C000000 16515
074 D000000 223
074 E000000 50
074 F000000 70512
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 477
074 K000000 0
074 L000000 101
074 M000000 6
074 N000000 87950
074 O000000 568
074 P000000 105
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 50
074 S000000 0
074 T000000 87227
074 U010000 3582
074 U020000 0
074 V010000 24.35
074 V020000 0.00
074 W000000 0.0000
074 X000000 1695
074 Y000000 0
075 A000000 0
075 B000000 78728
076 000000 0.00
077 A000000 N
078 000000 N
SIGNATURE ALBERT W. LEIER
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
SEMI-ANNUAL REPORT OF MAP-EQUITY FUND DATED JUNE 30, 1997 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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 62870
<INVESTMENTS-AT-VALUE> 87300
<RECEIVABLES> 578
<ASSETS-OTHER> 72
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 87950
<PAYABLE-FOR-SECURITIES> 568
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 154
<TOTAL-LIABILITIES> 723
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50432
<SHARES-COMMON-STOCK> 3582
<SHARES-COMMON-PRIOR> 3562
<ACCUMULATED-NII-CURRENT> 573
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8210
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24430
<NET-ASSETS> 87227
<DIVIDEND-INCOME> 435
<INTEREST-INCOME> 363
<OTHER-INCOME> 0
<EXPENSES-NET> 312
<NET-INVESTMENT-INCOME> 486
<REALIZED-GAINS-CURRENT> 7757
<APPREC-INCREASE-CURRENT> 4988
<NET-CHANGE-FROM-OPS> 13232
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 76
<NUMBER-OF-SHARES-REDEEMED> 57
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13637
<ACCUMULATED-NII-PRIOR> 87
<ACCUMULATED-GAINS-PRIOR> 452
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 177
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 312
<AVERAGE-NET-ASSETS> 78728
<PER-SHARE-NAV-BEGIN> 20.66
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 3.56
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.35
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
