<PAGE> PAGE 1
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007 C020100 THE ARCH MONEY MARKET PORTFLIO
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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
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007 C010600 6
007 C020600 THE ARCH SMALL CAP EQUITY PORTFOLIO
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007 C010700 7
007 C020700 THE ARCH BALANCED PORTFOLIO
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007 C010800 8
007 C020800 THE ARCH INTERNATIONAL EQUITY PORTFOLIO
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007 C010900 9
007 C020900 THE ARCH TAX-EXEMPT MONEY MARKET PORTFOLIO
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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
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007 C011300 13
007 C021300 THE ARCH BOND INDEX PORTFOLIO
007 C031300 N
007 C011400 14
007 C021400 THE ARCH INTERMEDIATE CORPORATE BOND PORT.
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007 C011500 15
007 C021500 THE ARCH EQUITY INCOME PORTFOLIO
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007 C011600 16
007 C021600 THE ARCH EQUITY INDEX PORTFOLIO
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007 C021700 THE ARCH GROWTH EQUITY PORTFOLIO
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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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 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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025 A000401 DELETE
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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 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
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070 M010800 Y
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<PAGE> PAGE 41
070 N020800 Y
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
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072 T000800 224
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072 X000800 1286
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072 Z000800 207
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072EE000800 2333
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073 B000800 0.4300
073 C000800 0.0000
074 A000800 4176
<PAGE> PAGE 42
074 B000800 0
074 C000800 1293
074 D000800 0
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074 F000800 68461
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074 J000800 1961
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074 L000800 167
074 M000800 4
074 N000800 76999
074 O000800 3552
074 P000800 96
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074 R040800 868
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074 T000800 72483
074 U010800 4527
074 U020800 894
074 V010800 13.40
074 V020800 13.25
074 W000800 0.0000
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074 Y000800 0
075 A000800 0
075 B000800 73111
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
025 D000908 0
028 A010900 43510
028 A020900 81
028 A030900 0
028 A040900 32203
028 B010900 36673
028 B020900 81
028 B030900 0
028 B040900 19526
<PAGE> PAGE 43
028 C010900 18856
028 C020900 79
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028 D010900 26782
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028 E010900 26773
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028 F010900 25354
028 F020900 103
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028 F040900 22677
028 G010900 177948
028 G020900 533
028 G030900 0
028 G040900 152364
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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
042 D000900 100
042 E000900 0
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<PAGE> PAGE 44
048 C020900 0.000
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048 E020900 0.000
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048 G020900 0.000
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048 H020900 0.000
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048 I020900 0.000
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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 93.1
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062 I000900 5.0
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064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
070 B010900 N
<PAGE> PAGE 45
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 O000900 0
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074 T000900 173632
074 U010900 122110
074 U020900 51522
074 V010900 1.00
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<PAGE> PAGE 47
074 X000900 19
074 Y000900 0
075 A000900 170052
075 B000900 0
076 000900 0.00
024 001000 N
025 A001001 DELETE
025 D001001 0
025 A001002 DELETE
025 D001002 0
025 D001003 0
025 D001004 0
025 D001005 0
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028 A011000 3505
028 A021000 84
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028 A041000 1917
028 B011000 2823
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028 B041000 1092
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028 D011000 3382
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<PAGE> PAGE 48
032 001000 34
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048 K021000 0.000
055 A001000 N
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<PAGE> PAGE 49
062 F001000 0.0
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063 B001000 7.5
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066 A001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 N
070 B011000 N
070 B021000 N
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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070 M011000 N
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070 N021000 N
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<PAGE> PAGE 50
070 O021000 N
070 P011000 N
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<PAGE> PAGE 51
074 D001000 110580
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075 B001000 107575
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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 C031100 0
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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
075 A001100 0
075 B001100 39232
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024 001200 N
025 A001201 DELETE
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025 A001202 DELETE
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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070 D021200 N
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070 F011200 N
070 F021200 N
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070 H011200 N
070 H021200 N
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070 J021200 N
070 K011200 Y
070 K021200 Y
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070 N021200 N
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<PAGE> PAGE 59
070 Q011200 N
070 Q021200 N
070 R011200 N
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<PAGE> PAGE 60
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024 001300 Y
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<PAGE> PAGE 61
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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 1
044 001300 0
045 001300 Y
046 001300 N
047 001300 Y
048 001300 0.300
048 A011300 0
048 A021300 0.000
048 B011300 0
048 B021300 0.000
<PAGE> PAGE 62
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
062 C001300 0.0
062 D001300 12.8
062 E001300 0.0
062 F001300 0.0
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 32.7
062 N001300 38.2
062 O001300 0.0
062 P001300 27.9
062 Q001300 0.0
062 R001300 0.5
063 A001300 0
063 B001300 8.8
064 A001300 N
064 B001300 N
066 A001300 N
067 001300 N
068 A001300 N
068 B001300 N
069 001300 Y
070 A011300 Y
070 A021300 N
<PAGE> PAGE 63
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 84440
071 B001300 51847
071 C001300 155377
071 D001300 33
072 A001300 12
072 B001300 10317
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072 J001300 48
072 K001300 0
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072 M001300 2
<PAGE> PAGE 64
072 N001300 29
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072 R001300 6
072 S001300 12
072 T001300 472
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072 X001300 1457
072 Y001300 774
072 Z001300 9741
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074 B001300 22544
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074 F001300 0
074 G001300 0
074 H001300 0
074 I001300 799
074 J001300 20
074 K001300 0
074 L001300 2037
074 M001300 9
074 N001300 200257
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074 R041300 23409
074 S001300 0
074 T001300 176786
074 U011300 16225
074 U021300 708
074 V011300 10.44
074 V021300 10.45
<PAGE> PAGE 65
074 W001300 0.0000
074 X001300 33
074 Y001300 0
075 A001300 0
075 B001300 157464
076 001300 0.00
024 001400 Y
025 A001401 DELETE
025 D001401 0
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025 B001402 95-3793471
025 C001402 D
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025 B001403 13-3299429
025 C001403 D
025 D001403 533
025 A001404 MERRILL LYNCH & CO.
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025 C001404 D
025 D001404 877
025 A001405 DELETE
025 D001405 0
025 A001406 DELETE
025 D001406 0
025 A001407 DELETE
025 D001407 0
025 A001408 DELETE
025 D001408 0
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<PAGE> PAGE 66
028 F031400 0
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028 G011400 4029
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028 H001400 44
029 001400 Y
030 A001400 2
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031 B001400 0
032 001400 2
033 001400 0
034 001400 N
035 001400 0
036 B001400 0
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042 D001400 100
042 E001400 0
042 F001400 0
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045 001400 Y
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047 001400 Y
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<PAGE> PAGE 67
048 J021400 0.000
048 K011400 0
048 K021400 0.000
055 A001400 N
055 B001400 N
056 001400 N
057 001400 N
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062 H001400 0.0
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062 L001400 0.0
062 M001400 2.6
062 N001400 16.4
062 O001400 0.0
062 P001400 77.4
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063 A001400 0
063 B001400 5.9
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
070 F021400 N
070 G011400 N
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
<PAGE> PAGE 68
070 I021400 N
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 5009
071 C001400 51915
071 D001400 10
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072 X001400 638
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072 Z001400 3328
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<PAGE> PAGE 69
072CC011400 1517
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072EE001400 501
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074 I001400 1510
074 J001400 0
074 K001400 0
074 L001400 834
074 M001400 15
074 N001400 63504
074 O001400 0
074 P001400 31
074 Q001400 0
074 R011400 0
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074 R031400 0
074 R041400 6727
074 S001400 0
074 T001400 56746
074 U011400 5377
074 U021400 137
074 V011400 10.29
074 V021400 10.29
074 W001400 0.0000
074 X001400 20
074 Y001400 0
075 A001400 0
075 B001400 53527
076 001400 0.00
024 001500 N
025 A001501 DELETE
025 D001501 0
025 A001502 DELETE
025 D001502 0
025 D001503 0
025 D001504 0
025 D001505 0
025 D001506 0
<PAGE> PAGE 70
025 D001507 0
025 D001508 0
028 A011500 668
028 A021500 7
028 A031500 0
028 A041500 741
028 B011500 7772
028 B021500 7
028 B031500 0
028 B041500 1834
028 C011500 1081
028 C021500 12
028 C031500 0
028 C041500 1137
028 D011500 784
028 D021500 18
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028 D041500 865
028 E011500 921
028 E021500 23
028 E031500 0
028 E041500 1409
028 F011500 692
028 F021500 16
028 F031500 0
028 F041500 3907
028 G011500 11918
028 G021500 83
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028 G041500 9893
028 H001500 888
029 001500 Y
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030 B001500 4.50
030 C001500 0.00
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031 B001500 0
032 001500 21
033 001500 0
034 001500 Y
035 001500 0
036 A001500 N
036 B001500 0
042 A001500 0
042 B001500 0
042 C001500 0
042 D001500 100
042 E001500 0
042 F001500 0
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<PAGE> PAGE 71
043 001500 6
044 001500 0
045 001500 Y
046 001500 N
047 001500 Y
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048 I011500 0
048 I021500 0.000
048 J011500 0
048 J021500 0.000
048 K011500 0
048 K021500 0.000
055 A001500 Y
055 B001500 N
056 001500 N
057 001500 N
062 A001500 N
062 B001500 0.0
062 C001500 0.0
062 D001500 0.0
062 E001500 0.0
062 F001500 0.0
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062 H001500 0.0
062 I001500 0.0
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062 L001500 0.0
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062 P001500 0.0
062 Q001500 0.0
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<PAGE> PAGE 72
063 B001500 0.0
066 A001500 Y
066 F001500 Y
067 001500 N
068 A001500 N
068 B001500 N
069 001500 N
070 A011500 Y
070 A021500 N
070 B011500 Y
070 B021500 N
070 C011500 N
070 C021500 N
070 D011500 Y
070 D021500 N
070 E011500 N
070 E021500 N
070 F011500 Y
070 F021500 N
070 G011500 N
070 G021500 N
070 H011500 Y
070 H021500 N
070 I011500 N
070 I021500 N
070 J011500 Y
070 J021500 N
070 K011500 Y
070 K021500 N
070 L011500 Y
070 L021500 Y
070 M011500 N
070 M021500 N
070 N011500 Y
070 N021500 Y
070 O011500 Y
070 O021500 N
070 P011500 N
070 P021500 N
070 Q011500 N
070 Q021500 N
070 R011500 N
070 R021500 N
071 A001500 107406
071 B001500 133051
071 C001500 109244
071 D001500 98
072 A001500 12
072 B001500 353
072 C001500 2668
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<PAGE> PAGE 73
072 E001500 8
072 F001500 857
072 G001500 229
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072 J001500 37
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072 M001500 2
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072 P001500 0
072 Q001500 3
072 R001500 7
072 S001500 14
072 T001500 345
072 U001500 0
072 V001500 0
072 W001500 5
072 X001500 1578
072 Y001500 762
072 Z001500 2214
072AA001500 24494
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072DD011500 2271
072DD021500 20
072EE001500 26172
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073 A021500 0.1900
073 B001500 2.2900
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074 B001500 3586
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<PAGE> PAGE 74
074 R021500 0
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024 001600 Y
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025 B001601 13-2655998
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<PAGE> PAGE 75
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<PAGE> PAGE 76
048 D021600 0.000
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<PAGE> PAGE 77
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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070 K011700 Y
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070 L011700 Y
070 L021700 Y
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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SIGNATURE TONYA HARESTAD
TITLE SUPERVISOR
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<NAME> THE ARCH FUND, INC.
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 024
<NAME> GROWTH & INCOME EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<FN>
<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 031
<NAME> GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PERIOD-START> Dec-01-1997
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 032
<NAME> GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 033
<NAME> GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 034
<NAME> GOVERNMENT & CORPORATE BOND PORTFOLIO
<S> <C>
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<FISCAL-YEAR-END> Nov-30-1998
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<FN>
<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 041
<NAME> U.S. GOVERNMENT SECURITIES PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 042
<NAME> U.S. GOVERNMENT SECURITIES PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 043
<NAME> U.S. GOVERNMENT SECURITIES PORTFOLIO
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<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 044
<NAME> U.S. GOVERNMENT SECURITIES PORTFOLIO
<S> <C>
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<F1>Investor B
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 051
<NAME> TREASURY MONEY MARKET PORTFOLIO
<S> <C>
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<F1>Investor A
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 052
<NAME> TREASURY MONEY MARKET PORTFOLIO
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<NAME> THE ARCH FUND, INC.
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<NAME> TREASURY MONEY MARKET PORTFOLIO
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<TABLE> <S> <C>
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<NAME> THE ARCH FUND, INC.
<SERIES>
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<NAME> TREASURY MONEY MARKET PORTFOLIO
<S> <C>
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<NAME> THE ARCH FUND, INC.
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<NUMBER> 061
<NAME> SMALL CAP EQUITY PORTFOLIO
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<NAME> SMALL CAP EQUITY PORTFOLIO
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUNDS, INC.
<SERIES>
<NUMBER> 064
<NAME> SMALL CAP EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<FN>
<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 071
<NAME> BALANCED PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Nov-30-1998
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 072
<NAME> BALANCED PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 073
<NAME> BALANCED PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 074
<NAME> BALANCED PORTFOLIO
<S> <C>
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<FN>
<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 081
<NAME> INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 082
<NAME> INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 083
<NAME> INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<F1>Institutional
</FN>
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<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 084
<NAME> INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
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<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 091
<NAME> TAX-EXEMPT MONEY MARKET PORTFOLIO
<S> <C>
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<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 092
<NAME> TAX-EXEMPT MONEY MARKET PORTFOLIO
<S> <C>
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<F1>Trust
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<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 095
<NAME> TAX-EXEMPT MONEY MARKET PORTFOLIO
<S> <C>
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<F1>Trust II
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 101
<NAME> MISSOURI TAX-EXEMPT BOND PORTFOLIO
<S> <C>
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<F1>Investor A
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 102
<NAME> MISSOURI TAX-EXEMPT BOND PORTFOLIO
<S> <C>
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<F1>Trust
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 104
<NAME> MISSOURI TAX-EXEMPT BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Investor B
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 111
<NAME> SHORT-INTERMEDIATE MUNICIPAL PORTFOLIO
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 112
<NAME> SHORT-INTERMEDIATE MUNICIPAL PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 121
<NAME> NATIONAL MUNICIPAL BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 122
<NAME> NATIONAL MUNICIPAL BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 124
<NAME> NATIONAL MUNICIPAL BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 131
<NAME> BOND INDEX PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 132
<NAME> BOND INDEX PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 133
<NAME> BOND INDEX PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 141
<NAME> INTERMEDIATE CORPORATE BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 142
<NAME> INTERMEDIATE CORPORATE BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 143
<NAME> INTERMEDIATE CORPORATE BOND PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 151
<NAME> EQUITY INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<ACCUMULATED-NII-PRIOR> 87616
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 152
<NAME> EQUITY INCOME PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 153
<NAME> EQUITY INCOME PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 154
<NAME> EQUITY INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<FN>
<F1>Investor B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 161
<NAME> EQUITY INDEX PORTFOLIO
<S> <C>
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 162
<NAME> EQUITY INDEX PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 163
<NAME> EQUITY INDEX PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 171
<NAME> GROWTH EQUITY PORTFOLIO
<S> <C>
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<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-START> Dec-01-1997
<PERIOD-END> Nov-30-1998
<INVESTMENTS-AT-COST> 50558810
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<FN>
<F1>Investor A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 172
<NAME> GROWTH EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Trust
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 173
<NAME> GROWTH EQUITY PORTFOLIO
<S> <C>
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<FN>
<F1>Institutional
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000706366
<NAME> THE ARCH FUND, INC.
<SERIES>
<NUMBER> 174
<NAME> GROWTH EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PER-SHARE-NAV-END> 19.81 <F1>
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor B
</FN>
</TABLE>
The Board of Directors of
The ARCH Fund, Inc.:
In planning and performing our audits of the financial
statements of The ARCH Fund, Inc. for the year ended
November 30, 1998, we considered its internal control,
including control activities for safeguarding securities,
in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of The ARCH Fund, Inc. is responsible for
establishing and maintaining internal control. In
fulfilling this responsibility, estimates and judgments
by management are required to assess the expected benefits
and related costs of controls. Generally, controls that
are relevant to an audit pertain to the entity's objective
of preparing financial statements for external purposes
that are fairly presented in conformity with generally
accepted accounting principles. Those controls include
the safeguarding of assets against unauthorized
acquisition, use, or disposition.
Because of inherent limitations in any internal control,
errors or fraud may occur and not be detected. Also,
projection of any evaluation of internal control to future
periods is subject to the risk that it may become
inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal control
that might be material weaknesses under standards
established by the American Institute of Certified
Public Accountants. A material weakness is a condition
in which the design or operation of one or more internal
control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud
in amounts that would be material in relation to the
financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However,
we noted no matters involving internal control and its
operation, including controls for safeguarding securities,
that we consider to be material weaknesses as defined
above as of November 30, 1998.
This report is intended solely for the information and
use of management, the Board of Directors of The ARCH
Fund, Inc., and the Securities and Exchange Commission
and is not intended to be and should not be used by anyone
other than these specified parties.
KPMG LLP
Columbus, Ohio
January 20, 1999
