<PAGE> PAGE 1
000 B000000 12/31/98
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 9734818356
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
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020 A000001 JEFFERIES
020 B000001 95-2622900
020 C000001 17
020 A000002 MERRILL, LYNCH
020 B000002 13-5674085
020 C000002 6
020 A000003 DONALDSON, LUFKIN & JENRETTE
020 B000003 13-2741729
020 C000003 6
020 A000004 INSTINET
020 B000004 13-3443395
020 C000004 5
020 A000005 LIPPER ANALYTICAL
020 B000005 13-2792478
020 C000005 5
020 A000006 PRUDENTIAL SECURITIES
020 B000006 22-2347336
020 C000006 1
020 A000007 LEHMAN
020 B000007 13-2518466
020 C000007 1
020 A000008 PAINE WEBBER
020 B000008 13-2638166
020 C000008 1
020 A000009 CIBC OPPENHEIMER
020 B000009 13-2798343
020 C000009 1
020 A000010 BEAR, STEARNS
<PAGE> PAGE 2
020 B000010 13-3299429
020 C000010 1
021 000000 45
022 A000001 FIRST CHICAGO
022 B000001 36-3595942
022 C000001 42268
022 D000001 14169
022 A000002 MBL LIFE ASSURANCE CORP.
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022 C000004 22464
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022 A000005 DEAN WITTER
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022 C000005 13565
022 D000005 1653
022 A000006 LEHMAN
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022 C000006 1021
022 D000006 0
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022 D000008 273
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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067 000000 N
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071 A000000 34376
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072 Z000000 1057
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072CC010000 0
072CC020000 7606
072DD010000 1059
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<PAGE> PAGE 5
073 A010000 0.3300
073 A020000 0.0000
073 B000000 2.9600
073 C000000 0.0000
074 A000000 70
074 B000000 0
074 C000000 3170
074 D000000 4
074 E000000 238
074 F000000 56758
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074 M000000 20
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075 B000000 96365
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077 A000000 Y
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077 C000000 N
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077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 Y
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
<PAGE> PAGE 6
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 2000
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084 A000000 N
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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, 1998 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-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
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<INVESTMENTS-AT-VALUE> 60170
<RECEIVABLES> 343
<ASSETS-OTHER> 90
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<TOTAL-ASSETS> 60604
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 190
<TOTAL-LIABILITIES> 190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39563
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<SHARES-COMMON-PRIOR> 4143
<ACCUMULATED-NII-CURRENT> 45
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<ACCUMULATED-NET-GAINS> 483
<OVERDISTRIBUTION-GAINS> 0
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<INTEREST-INCOME> 607
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<NET-INVESTMENT-INCOME> 1057
<REALIZED-GAINS-CURRENT> 24437
<APPREC-INCREASE-CURRENT> (7606)
<NET-CHANGE-FROM-OPS> 17888
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1059
<DISTRIBUTIONS-OF-GAINS> 12764
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 419
<NUMBER-OF-SHARES-REDEEMED> 2674
<SHARES-REINVESTED> 569
<NET-CHANGE-IN-ASSETS> (33758)
<ACCUMULATED-NII-PRIOR> 47
<ACCUMULATED-GAINS-PRIOR> 1811
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 334
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 739
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<PER-SHARE-NAV-BEGIN> 22.73
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 4.81
<PER-SHARE-DIVIDEND> 0.33
<PER-SHARE-DISTRIBUTIONS> 2.96
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.58
<EXPENSE-RATIO> 0.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
