<PAGE> PAGE 1
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002 D020000 3035
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005 000000 N
006 000000 N
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007 C010100 1
007 C020100 THE ARCH MONEY MARKET PORTFLIO
007 C030100 N
007 C010200 2
007 C020200 THE ARCH GROWTH AND INCOME EQUITY PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 THE ARCH GOVERNMENT & CORPORATE BOND PORT.
007 C030300 N
007 C010400 4
007 C020400 THE U.S. GOVERNMENT SECURITIES PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 THE ARCH TREASURY MONEY MARKET PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 THE ARCH SMALL CAP EQUITY PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 THE ARCH BALANCED PORTFOLIO
007 C030700 N
007 C010800 8
007 C020800 THE ARCH INTERNATIONAL EQUITY PORTFOLIO
007 C030800 N
007 C010900 9
007 C020900 THE ARCH TAX-EXEMPT MONEY MARKET PORTFOLIO
007 C030900 N
007 C011000 10
<PAGE> PAGE 2
007 C021000 THE ARCH MISSOURI TAX-EXEMPT BOND PORTFOLIO
007 C031000 N
007 C011100 11
007 C021100 THE ARCH SHORT-INTERMEDIATE MUNICIPAL PORT.
007 C031100 N
007 C011200 12
007 C021200 THE ARCH NATIONAL MUNICIPAL BOND PORTFOLIO
007 C031200 N
007 C011300 13
007 C021300 THE ARCH BOND INDEX PORTFOLIO
007 C031300 N
007 C011400 14
007 C021400 THE ARCH INTERMEDIATE CORPORATE BOND PORT.
007 C031400 N
007 C011500 15
007 C021500 THE ARCH EQUITY INCOME PORTFOLIO
007 C031500 N
007 C011600 16
007 C021600 THE ARCH EQUITY INDEX PORTFOLIO
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007 C011700 17
007 C021700 THE ARCH GROWTH EQUITY PORTFOLIO
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007 C011900 19
007 C012000 20
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<PAGE> PAGE 3
013 B02AA01 OH
013 B03AA01 43215
015 A00AA01 MERCANTILE BANK NATIONAL ASSOC.
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 Y
070 M010800 Y
070 M020800 Y
<PAGE> PAGE 41
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
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071 C000800 69364
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072 W000800 8
072 X000800 641
072 Y000800 159
072 Z000800 207
072AA000800 2365
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072CC010800 11379
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072DD010800 235
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072EE000800 2333
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<PAGE> PAGE 42
074 A000800 212
074 B000800 0
074 C000800 2334
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074 L000800 128
074 M000800 10
074 N000800 81783
074 O000800 339
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074 R010800 0
074 R020800 0
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074 R040800 162
074 S000800 0
074 T000800 81208
074 U010800 4897
074 U020800 880
074 V010800 14.08
074 V020800 13.93
074 W000800 0.0000
074 X000800 682
074 Y000800 0
075 A000800 0
075 B000800 73061
076 000800 0.00
024 000900 N
025 A000901 DELETE
025 D000901 0
025 A000902 DELETE
025 D000902 0
025 D000903 0
025 D000904 0
025 D000905 0
025 D000906 0
025 D000907 0
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028 A010900 47177
028 A020900 90
028 A030900 0
028 A040900 31890
028 B010900 32848
028 B020900 94
028 B030900 0
<PAGE> PAGE 43
028 B040900 28535
028 C010900 72955
028 C020900 71
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028 F020900 72
028 F030900 0
028 F040900 49044
028 G010900 306261
028 G020900 439
028 G030900 0
028 G040900 318492
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030 B000900 0.00
030 C000900 0.00
031 A000900 0
031 B000900 0
032 000900 0
033 000900 0
034 000900 N
035 000900 0
036 B000900 0
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042 C000900 0
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042 E000900 0
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<PAGE> PAGE 44
048 C010900 0
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048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
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048 K020900 0.000
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056 000900 N
057 000900 N
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062 E000900 86.6
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062 I000900 11.9
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063 B000900 0.0
064 A000900 Y
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
<PAGE> PAGE 45
070 B010900 N
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
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<PAGE> PAGE 46
072 N000900 3
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074 V010900 1.00
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<PAGE> PAGE 47
074 W000900 1.0000
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075 A000900 172641
075 B000900 0
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024 001000 N
025 A001001 DELETE
025 D001001 0
025 A001002 DELETE
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025 D001003 0
025 D001004 0
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028 A011000 1140
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<PAGE> PAGE 48
031 B001000 0
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<PAGE> PAGE 49
062 E001000 0.0
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068 A001000 N
068 B001000 N
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070 A021000 N
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070 C011000 N
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
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<PAGE> PAGE 50
070 O011000 Y
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<PAGE> PAGE 51
074 C001000 0
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024 001100 N
025 A001101 DELETE
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025 A001102 DELETE
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<PAGE> PAGE 52
028 C021100 4
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
074 Y001100 0
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025 A001201 DELETE
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
070 P011200 N
070 P021200 N
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070 R011200 N
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<PAGE> PAGE 60
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024 001300 Y
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025 C001301 D
025 D001301 2065
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025 B001302 13-5674085
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<PAGE> PAGE 61
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028 H001300 0
029 001300 Y
030 A001300 0
030 B001300 2.50
030 C001300 0.00
031 A001300 0
031 B001300 0
032 001300 0
033 001300 0
034 001300 N
035 001300 0
036 B001300 0
042 A001300 0
042 B001300 0
042 C001300 0
042 D001300 100
042 E001300 0
042 F001300 0
042 G001300 0
042 H001300 0
043 001300 0
044 001300 0
045 001300 Y
046 001300 N
047 001300 Y
048 001300 0.300
<PAGE> PAGE 62
048 A011300 0
048 A021300 0.000
048 B011300 0
048 B021300 0.000
048 C011300 0
048 C021300 0.000
048 D011300 0
048 D021300 0.000
048 E011300 0
048 E021300 0.000
048 F011300 0
048 F021300 0.000
048 G011300 0
048 G021300 0.000
048 H011300 0
048 H021300 0.000
048 I011300 0
048 I021300 0.000
048 J011300 0
048 J021300 0.000
048 K011300 0
048 K021300 0.000
055 A001300 Y
055 B001300 N
056 001300 N
057 001300 N
062 A001300 Y
062 B001300 0.0
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062 D001300 9.1
062 E001300 0.0
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062 G001300 0.0
062 H001300 0.0
062 I001300 0.0
062 J001300 0.0
062 K001300 0.0
062 L001300 0.0
062 M001300 33.2
062 N001300 38.5
062 O001300 0.0
062 P001300 27.4
062 Q001300 0.0
062 R001300 0.3
063 A001300 0
063 B001300 8.4
064 A001300 N
064 B001300 N
066 A001300 N
067 001300 N
068 A001300 N
<PAGE> PAGE 63
068 B001300 N
069 001300 Y
070 A011300 Y
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 Y
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 N
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 Y
070 L011300 Y
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 Y
070 N021300 Y
070 O011300 Y
070 O021300 N
070 P011300 N
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 47004
071 B001300 30562
071 C001300 144700
071 D001300 21
072 A001300 6
072 B001300 4919
072 C001300 29
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<PAGE> PAGE 64
072 J001300 36
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072EE001300 473
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074 J001300 0
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074 M001300 20
074 N001300 171072
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<PAGE> PAGE 65
074 U011300 14730
074 U021300 569
074 V011300 10.20
074 V021300 10.21
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075 B001300 146799
076 001300 0.00
024 001400 Y
025 A001401 J.P. MORGAN SECURITIES
025 B001401 13-3224016
025 C001401 D
025 D001401 332
025 A001402 ASSOCIATES CORP., N.A.
025 B001402 95-3793471
025 C001402 D
025 D001402 1214
025 A001403 BEAR STEARNS CO., INC.
025 B001403 13-3299429
025 C001403 D
025 D001403 1687
025 A001404 MERRILL LYNCH & CO.
025 B001404 13-5674085
025 C001404 D
025 D001404 864
025 A001405 DELETE
025 D001405 0
025 A001406 DELETE
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025 A001407 DELETE
025 D001407 0
025 A001408 DELETE
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<PAGE> PAGE 66
028 E011400 987
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<PAGE> PAGE 67
048 G021400 0.000
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056 001400 N
057 001400 N
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063 B001400 6.4
064 A001400 N
064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
070 A011400 Y
070 A021400 N
070 B011400 N
070 B021400 N
070 C011400 Y
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 N
070 E021400 N
070 F011400 N
<PAGE> PAGE 68
070 F021400 N
070 G011400 N
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
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070 J011400 Y
070 J021400 N
070 K011400 Y
070 K021400 Y
070 L011400 Y
070 L021400 N
070 M011400 N
070 M021400 N
070 N011400 Y
070 N021400 Y
070 O011400 Y
070 O021400 N
070 P011400 N
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
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071 B001400 2104
071 C001400 49602
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<PAGE> PAGE 69
072 W001400 16
072 X001400 308
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024 001500 Y
025 A001501 NEW CENTER ASSET TRUST
025 C001501 D
<PAGE> PAGE 70
025 D001501 5087
025 A001502 BEAR STEARNS CO., INC.
025 B001502 13-3299429
025 C001502 D
025 D001502 4200
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034 001500 Y
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<PAGE> PAGE 71
036 B001500 0
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<PAGE> PAGE 72
062 K001500 0.0
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066 A001500 Y
066 F001500 Y
067 001500 N
068 A001500 N
068 B001500 N
069 001500 N
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070 A021500 N
070 B011500 Y
070 B021500 N
070 C011500 N
070 C021500 N
070 D011500 Y
070 D021500 N
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070 E021500 N
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<PAGE> PAGE 73
070 R021500 N
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<PAGE> PAGE 74
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024 001600 Y
025 A001601 NEW CENTER ASSET TRUST
025 C001601 D
025 D001601 3147
025 A001602 BEAR STEARNS CO., INC.
025 B001602 13-3299429
025 C001602 D
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025 A001603 DELETE
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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070 B021600 N
<PAGE> PAGE 77
070 C011600 N
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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024 001700 Y
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025 A001702 BEAR STEARNS CO., INC.
025 B001702 13-3299429
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025 A001703 DELETE
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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070 I021700 N
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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SIGNATURE PEGGY HALEEN
TITLE FINANCIAL ANALYST
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<F1>Investor B Shares
</FN>
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<ARTICLE> 6
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<SERIES>
<NUMBER> 031
<NAME> THE ARCH GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
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<F1>Investor A Shares
</FN>
</TABLE>
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<ARTICLE> 6
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<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 032
<NAME> THE ARCH GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Trust Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 033
<NAME> THE ARCH GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 034
<NAME> THE ARCH GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
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<F1>Investor B Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 041
<NAME> THE ARCH U.S. GOVERNMENT SECURITIES PORTFOLIO
<S> <C>
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<F1>Investor A Shares
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 042
<NAME> THE ARCH U.S. GOVERNMENT SECURITIES PORTFOLIO
<S> <C>
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<FN>
<F1>Trust Shares
</FN>
</TABLE>
<TABLE> <S> <C>
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<NAME> THE ARCH FUND, INC.
<SERIES>
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<NAME> THE ARCH U.S. GOVERNMENT SECURITIES PORTFOLIO
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<FN>
<F1>Institutional Shares
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</TABLE>
<TABLE> <S> <C>
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<NAME> THE ARCH FUND, INC.
<SERIES>
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<NAME> THE ARCH U.S. GOVERNMENT SECURITIES PORTFOLIO
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<F1>Investor B Shares
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<NAME> THE ARCH TREASURY MONEY MARKET PORTFOLIO
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<F1>Trust Shares
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<NAME> THE ARCH TREASURY MONEY MARKET PORTFOLIO
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<F1>Institutional Shares
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<NUMBER> 061
<NAME> THE ARCH SMALL CAP EQUITY PORTFOLIO
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<F1>Investor A Shares
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<NAME> THE ARCH SMALL CAP EQUITY PORTFOLIO
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<F1>Institutional Shares
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<F1>Investor B Shares
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
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<NAME> THE ARCH BALANCED PORTFOLIO
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<FN>
<F1>Investor A Shares
</FN>
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 072
<NAME> THE ARCH BALANCED PORTFOLIO
<S> <C>
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<FN>
<F1>Trust Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 073
<NAME> THE ARCH BALANCED PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
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<FN>
<F1>Institutional Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 074
<NAME> THE ARCH BALANCED PORTFOLIO
<S> <C>
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<FN>
<F1>Investor B Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 081
<NAME> THE ARCH INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 082
<NAME> THE ARCH INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Trust Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 083
<NAME> THE ARCH INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 084
<NAME> THE ARCH INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Investor B Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 091
<NAME> THE ARCH TAX EXEMPT MONEY MARKET PORTFOLIO
<S> <C>
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<F1>Trust Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 123
<NAME> THE ARCH NATIONAL MUNICIPAL BOND PORTFOLIO
<S> <C>
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<F1>Investor B Shares
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 131
<NAME> THE ARCH BOND INDEX PORTFOLIO
<S> <C>
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<F1>Investor A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 132
<NAME> THE ARCH BOND INDEX PORTFOLIO
<S> <C>
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<F1>Trust Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 133
<NAME> THE ARCH BOND INDEX PORTFOLIO
<S> <C>
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<F1>Institutional Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 141
<NAME> THE ARCH INTERMEDIATE CORPORATE BOND PORTFOLIO
<S> <C>
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<F1>Investor A Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 142
<NAME> THE ARCH INTERMEDIATE CORPORATE BOND PORTFOLIO
<S> <C>
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<F1>Trust Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 143
<NAME> THE ARCH INTERMEDIATE CORPORATE BOND PORTFOLIO
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<FN>
<F1>Institutional Shares
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 151
<NAME> THE ARCH EQUITY INCOME PORTFOLIO
<S> <C>
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<F1>Investor A Shares
</FN>
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<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 152
<NAME> THE ARCH EQUITY INCOME PORTFOLIO
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<F1>Trust Shares
</FN>
</TABLE>
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<ARTICLE> 6
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<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 153
<NAME> THE ARCH EQUITY INCOME PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 154
<NAME> THE ARCH EQUITY INCOME PORTFOLIO
<S> <C>
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<F1>Investor B Shares
</FN>
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<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
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<NUMBER> 161
<NAME> THE ARCH EQUITY INDEX PORTFOLIO
<S> <C>
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<F1>Investor A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 162
<NAME> THE ARCH EQUITY INDEX PORTFOLIO
<S> <C>
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<F1>Trust Shares
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</TABLE>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
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<NAME> THE ARCH EQUITY INDEX PORTFOLIO
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<F1>Institutional Shares
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 171
<NAME> THE ARCH GROWTH EQUITY PORTFOLIO
<S> <C>
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<F1>Investor A Shares
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<NAME> THE ARCH FUND, INC.
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<NAME> THE ARCH GROWTH EQUITY PORTFOLIO
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<NET-ASSETS> 95455454
<DIVIDEND-INCOME> 436725
<INTEREST-INCOME> 83481
<OTHER-INCOME> 1788
<EXPENSES-NET> 562095
<NET-INVESTMENT-INCOME> (40101)
<REALIZED-GAINS-CURRENT> 13702123
<APPREC-INCREASE-CURRENT> (3214156)
<NET-CHANGE-FROM-OPS> 10447866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 44963<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 1648844<F1>
<NUMBER-OF-SHARES-REDEEMED> 909202<F1>
<SHARES-REINVESTED> 209<F1>
<NET-CHANGE-IN-ASSETS> 28202445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 358277
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 654974
<AVERAGE-NET-ASSETS> 86973908<F1>
<PER-SHARE-NAV-BEGIN> 16.26<F1>
<PER-SHARE-NII> (.02)<F1>
<PER-SHARE-GAIN-APPREC> 2.09<F1>
<PER-SHARE-DIVIDEND> .01<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 18.32<F1>
<EXPENSE-RATIO> 1.16<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Trust Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 173
<NAME> THE ARCH GROWTH EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 80960638
<INVESTMENTS-AT-VALUE> 112779174
<RECEIVABLES> 587631
<ASSETS-OTHER> 107851
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 113474656
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18019202
<TOTAL-LIABILITIES> 18019202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50022896
<SHARES-COMMON-STOCK> 342377<F1>
<SHARES-COMMON-PRIOR> 1<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 88101
<ACCUMULATED-NET-GAINS> 13702123
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31818536
<NET-ASSETS> 95455454
<DIVIDEND-INCOME> 436725
<INTEREST-INCOME> 83481
<OTHER-INCOME> 1788
<EXPENSES-NET> 562095
<NET-INVESTMENT-INCOME> (40101)
<REALIZED-GAINS-CURRENT> 13702123
<APPREC-INCREASE-CURRENT> (3214156)
<NET-CHANGE-FROM-OPS> 10447866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2352<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 362327<F1>
<NUMBER-OF-SHARES-REDEEMED> 20092<F1>
<SHARES-REINVESTED> 141<F1>
<NET-CHANGE-IN-ASSETS> 28202445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 358277
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 654974
<AVERAGE-NET-ASSETS> 5322602<F1>
<PER-SHARE-NAV-BEGIN> 16.27<F1>
<PER-SHARE-NII> (.02)<F1>
<PER-SHARE-GAIN-APPREC> 2.07<F1>
<PER-SHARE-DIVIDEND> .01<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 18.31<F1>
<EXPENSE-RATIO> 1.27<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Institutional Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 174
<NAME> THE ARCH GROWTH EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 80960638
<INVESTMENTS-AT-VALUE> 112779174
<RECEIVABLES> 587631
<ASSETS-OTHER> 107851
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 113474656
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18019202
<TOTAL-LIABILITIES> 18019202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50022896
<SHARES-COMMON-STOCK> 4462<F1>
<SHARES-COMMON-PRIOR> 1<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 88101
<ACCUMULATED-NET-GAINS> 13702123
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31818536
<NET-ASSETS> 95455454
<DIVIDEND-INCOME> 436725
<INTEREST-INCOME> 83481
<OTHER-INCOME> 1788
<EXPENSES-NET> 562095
<NET-INVESTMENT-INCOME> (40101)
<REALIZED-GAINS-CURRENT> 13702123
<APPREC-INCREASE-CURRENT> (3214156)
<NET-CHANGE-FROM-OPS> 10447866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 4461<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 28202445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 358277
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 654974
<AVERAGE-NET-ASSETS> 24220<F1>
<PER-SHARE-NAV-BEGIN> 16.27<F1>
<PER-SHARE-NII> (.03)<F1>
<PER-SHARE-GAIN-APPREC> 2.04<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 18.28<F1>
<EXPENSE-RATIO> 1.98<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor B Shares
</FN>
</TABLE>
Question 77-C
Annual Meeting of Shareholders
30-Jan-98
9:00 a.m. Central Time
Mississippi Valley Advisors Inc.
One Mercantile Center
Southeast Conference Room
21st Floor
St. Louis, Missouri 63101
Record Date - November 3, 1997
Proposal # 1
The election of a Board of Seven (7) Directors
Shares Outstanding as of Record Date - 1,667,298,120
Director Number of Votes For Number of Votes Withheld
Jerry V. Woodham 893,201,822 534,577
Robert M. Cox, Jr. 893,185,888 594,546
Joseph J. Hunt 893,134,321 602,078
James C. Jacobsen 893,197,536 538,863
Ronald D. Winney 890,193,978 578,421
Donald E. Brandt 893,136,846 599,552
Patrick J. Moore 893,038,230 698,169
Proposal # 2
The ratification or rejection of the selection of
KPMG Peat Marwick LLP as the Fund's independent
accountants for the fiscal year ending November 30, 1998.
Shares Outstanding as of Record Date - 1,667,298,120
Shares Voted: 895,573,553
Number of Votes For: 889,400,247
Number of Votes Against: 914,762
Number of Votes Abstaining: 4,327,382
Porposal # 3
With respect to the Treasury Money Market Portfolio
and Money Market Portfolio only, the approval or
disapproval of a change in the Portfolios'
fundamental investment limitations to permit securities lending.
Money Market Portfolio
Shares Outstanding as of Record Date - 1,147,434,325
Shares Voted: 576,618,891
Number of Votes For: 456,138,140
Number of Votes Against: 3,813,231
Number of Votes Abstaining: 3,533,200
Treasury Money Market Portfolio
Shares Outstanding as of Record Date - 202,592,009
Shares Voted: 63,710,217
Number of Votes For: 60,543,710
Number of Votes Against: 1,459,321
Number of Votes Abstaining: 6,852
Question 77-D
Policies with respect to security investments
Shareholders were asked on January 30, 1998 to approve a
change in the Treasury Money Market Portfolio's and
Money Market Portfolio's fundamental investment
limitations to permit the Portfolios to engage in securities
lending. See Proposal #3 in Question 77-C above for the
voting results.
