Filed with the SEC on 4/29/96
File Numbers: 2-78931 and 811-3551
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 X
Post-Effective Amendment No. 31 X
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY
ACT OF 1940 X
Amendment No. 31 X
(Check appropriate box or boxes)
THE WORLD FUNDS, INC.
(Exact Name of Registrant as Specified in Charter)
1500 Forest Avenue, Suite 223, Richmond, VA. 23229
(Address of Principal Executive Offices)
(804) 285-8211
(Registrant's Telephone Number, including Area Code)
John Pasco, III, 1500 Forest Avenue, Suite 223, Richmond, Va. 23229
(Name and Address of Agent for Service
Approximate Date of Proposed Public Offering: Upon effectiveness
of this amendment
It is proposed that this filing will become effective (check
appropriate box).
X immediately upon filing pursuant to paragraph (b)
on _____ pursuant to paragraph (b)
75 days after filing pursuant to paragraph (a) (2)
on _________ pursuant to paragraph (a) of Rule 485.
No additional shares being registered at this time. Registrant has
previously elected to register an indefinite number of shares
pursuant to Rule 24f-2. The Notice for the fiscal year ended
December 31, 1995 was filed on February 29, 1996.
___________________________________________
Please send copies of communications to:
Steven M. Felsenstein, Esq.
Stradley, Ronon, Stevens & Young
2600 One
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000705455
<NAME> THE WORLD FUNDS, INC.
<SERIES>
<NUMBER> 01
<NAME> VONTOBEL EUROPACIFIC FUND
<MULTIPLIER> 1
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 101,866,983
<INVESTMENTS-AT-VALUE> 128,066,023
<RECEIVABLES> 63,182,578
<ASSETS-OTHER> 67,978
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191,316,579
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 58,771,004
<TOTAL-LIABILITIES> 60,811,689
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 101,300,653
<SHARES-COMMON-STOCK> 7,617,948
<SHARES-COMMON-PRIOR> 8,512,986
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29,204,237
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 130,504,890
<DIVIDEND-INCOME> 2,454,259
<INTEREST-INCOME> 2,796
<OTHER-INCOME> 0
<EXPENSES-NET> 1,844,477
<NET-INVESTMENT-INCOME> 612,578
<REALIZED-GAINS-CURRENT> 5,830,360
<APPREC-INCREASE-CURRENT> 4,983,921
<NET-CHANGE-FROM-OPS> 11,426,859
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,228,470
<DISTRIBUTIONS-OF-GAINS> 5,058,407
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,178,461
<NUMBER-OF-SHARES-REDEEMED> (4,342,318)
<SHARES-REINVESTED> 268,820
<NET-CHANGE-IN-ASSETS> (7,668,782)
<ACCUMULATED-NII-PRIOR> (636,145)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,154,541
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,967,335
<AVERAGE-NET-ASSETS> 121,834,000
<PER-SHARE-NAV-BEGIN> 16.23
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> 1.61
<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> (.70)
<RETURNS-OF-CAPITAL> 10.91
<PER-SHARE-NAV-END> 17.13
<EXPENSE-RATIO> 1.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000705455
<NAME> THE WORLD FUNDS, INC.
<SERIES>
<NUMBER> 02
<NAME> VONTOBEL U.S. VALUE FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 48,346,490
<INVESTMENTS-AT-VALUE> 54,728,867
<RECEIVABLES> 1,804,613
<ASSETS-OTHER> 125,352
<OTHER-ITEMS-ASSETS> 69,089
<TOTAL-ASSETS> 56,727,921
<PAYABLE-FOR-SECURITIES> 1,556,343
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 68,241
<TOTAL-LIABILITIES> 1,624,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,981,069
<SHARES-COMMON-STOCK> 4,159,600
<SHARES-COMMON-PRIOR> 2,909,329
<ACCUMULATED-NII-CURRENT> 72,541
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,667,350
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,382,377
<NET-ASSETS> 55,103,337
<DIVIDEND-INCOME> 672,351
<INTEREST-INCOME> 52,601
<OTHER-INCOME> 0
<EXPENSES-NET> 578,148
<NET-INVESTMENT-INCOME> 146,804
<REALIZED-GAINS-CURRENT> 5,377,553
<APPREC-INCREASE-CURRENT> 7,554,055
<NET-CHANGE-FROM-OPS> 13,078,412
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 74,261
<DISTRIBUTIONS-OF-GAINS> 2,060,752
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,591,066
<NUMBER-OF-SHARES-REDEEMED> 2,489,941
<SHARES-REINVESTED> 149,147
<NET-CHANGE-IN-ASSETS> 25,251,176
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 385,289
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 659,859
<AVERAGE-NET-ASSETS> 42,581,000
<PER-SHARE-NAV-BEGIN> 10.26
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 4.09
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> (1.11)
<RETURNS-OF-CAPITAL> 40.36
<PER-SHARE-NAV-END> 13.25
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000705455
<NAME> THE WORLD FUNDS, INC.
<SERIES>
<NUMBER> 03
<NAME> VONTOBEL INTERNATIONAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 13,298,705
<INVESTMENTS-AT-VALUE> 14,339,199
<RECEIVABLES> 2,318,323
<ASSETS-OTHER> 56,445
<OTHER-ITEMS-ASSETS> 1,322,813
<TOTAL-ASSETS> 18,036,780
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,793,033
<TOTAL-LIABILITIES> 1,793,033
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,264,200
<SHARES-COMMON-STOCK> 1,532,193
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 92,421
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (160,644)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,047,770
<NET-ASSETS> 16,243,747
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 867,992
<OTHER-INCOME> 0
<EXPENSES-NET> 174,065
<NET-INVESTMENT-INCOME> 693,927
<REALIZED-GAINS-CURRENT> 77,266
<APPREC-INCREASE-CURRENT> 1,199,649
<NET-CHANGE-FROM-OPS> 1,970,842
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 817,314
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 652,031
<NUMBER-OF-SHARES-REDEEMED> 244,864
<SHARES-REINVESTED> 45,939
<NET-CHANGE-IN-ASSETS> 6,008,636
<ACCUMULATED-NII-PRIOR> 587,806
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 13,106
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 128,371
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 355,784
<AVERAGE-NET-ASSETS> 14,379,000
<PER-SHARE-NAV-BEGIN> 9.48
<PER-SHARE-NII> .61
<PER-SHARE-GAIN-APPREC> 1.06
<PER-SHARE-DIVIDEND> (.55)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 17.60
<PER-SHARE-NAV-END> 10.60
<EXPENSE-RATIO> 1.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000705455
<NAME> THE WORLD FUNDS, INC.
<SERIES>
<NUMBER> 04
<NAME> SAND HILL PORTFOLIO MANAGER FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 3,528,608
<INVESTMENTS-AT-VALUE> 3,819,926
<RECEIVABLES> 76,028
<ASSETS-OTHER> 31,151
<OTHER-ITEMS-ASSETS> 97,915
<TOTAL-ASSETS> 4,025,020
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,731,184
<SHARES-COMMON-STOCK> 362,448
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 4,270
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,752)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 291,318
<NET-ASSETS> 4,025,020
<DIVIDEND-INCOME> 32,873
<INTEREST-INCOME> 32,799
<OTHER-INCOME> 0
<EXPENSES-NET> 51,593
<NET-INVESTMENT-INCOME> 14,079
<REALIZED-GAINS-CURRENT> 3,594
<APPREC-INCREASE-CURRENT> 291,318
<NET-CHANGE-FROM-OPS> 308,991
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17,898)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 384,304
<NUMBER-OF-SHARES-REDEEMED> (23,410)
<SHARES-REINVESTED> 1,554
<NET-CHANGE-IN-ASSETS> 4,025,020
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27,452
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 51,593
<AVERAGE-NET-ASSETS> 3,786
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> 1.10
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 11.60
<PER-SHARE-NAV-END> 11.11
<EXPENSE-RATIO> 1.90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
