COUNTRYWIDE STRATEGIC TRUST
NSAR-B, 1997-05-30
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<PAGE>      PAGE  1
000 B000000 03/31/97
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<PAGE>      PAGE  2
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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  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  17
050  000500 N
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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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008 A000701 COUNTRYWIDE INVESTMENTS, INC.
008 B000701 A
008 C000701 801-10344
008 D010701 CINCINNATI
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008 D040701 4094
014 A000701 COUNTRYWIDE INVESTMENTS, INC.
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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050  000700 N
051  000700 N
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054 C000700 N
054 D000700 N
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054 F000700 N
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054 I000700 N
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054 K000700 N
054 L000700 N
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<PAGE>      PAGE  23
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066 C000700 Y
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066 F000700 N
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070 D020700 N
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070 E020700 N
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070 F020700 N
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070 H010700 N
070 H020700 N
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070 I020700 N
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070 J020700 N
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070 K020700 N
070 L010700 Y
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070 M020700 N
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070 N020700 N
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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SIGNATURE   JOHN F. SPLAIN                               
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 71
   <NAME> EQUITY FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       15,106,330
<INVESTMENTS-AT-VALUE>                      17,793,071
<RECEIVABLES>                                  371,759
<ASSETS-OTHER>                                   2,113
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              18,166,943
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      414,152
<TOTAL-LIABILITIES>                            414,152
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    14,901,612
<SHARES-COMMON-STOCK>                        1,088,598
<SHARES-COMMON-PRIOR>                          682,935
<ACCUMULATED-NII-CURRENT>                            7
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<ACCUMULATED-NET-GAINS>                        164,431
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                14,982,638
<DIVIDEND-INCOME>                              165,852
<INTEREST-INCOME>                              157,477
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 207,287
<NET-INVESTMENT-INCOME>                        116,042
<REALIZED-GAINS-CURRENT>                       482,875
<APPREC-INCREASE-CURRENT>                      952,569
<NET-CHANGE-FROM-OPS>                        1,551,486
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                        43,452
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        562,866
<NUMBER-OF-SHARES-REDEEMED>                    168,288
<SHARES-REINVESTED>                             11,085
<NET-CHANGE-IN-ASSETS>                       6,480,776
<ACCUMULATED-NII-PRIOR>                             27
<ACCUMULATED-GAINS-PRIOR>                    (265,871)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          112,182
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                234,121
<AVERAGE-NET-ASSETS>                        12,289,832
<PER-SHARE-NAV-BEGIN>                            12.45
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                           1.35
<PER-SHARE-DIVIDEND>                               .12
<PER-SHARE-DISTRIBUTIONS>                          .04
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.76
<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 73
   <NAME> EQUITY FUND CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       15,106,330
<INVESTMENTS-AT-VALUE>                      17,793,071
<RECEIVABLES>                                  371,759
<ASSETS-OTHER>                                   2,113
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              18,166,943
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      414,152
<TOTAL-LIABILITIES>                            414,152
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    14,901,612
<SHARES-COMMON-STOCK>                          201,191
<SHARES-COMMON-PRIOR>                          195,573
<ACCUMULATED-NII-CURRENT>                            7
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<ACCUMULATED-NET-GAINS>                        164,431
<OVERDISTRIBUTION-GAINS>                             0
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<NET-INVESTMENT-INCOME>                        116,042
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<APPREC-INCREASE-CURRENT>                      952,569
<NET-CHANGE-FROM-OPS>                        1,551,486
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        3,811
<DISTRIBUTIONS-OF-GAINS>                         9,121
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         50,018
<NUMBER-OF-SHARES-REDEEMED>                     45,330
<SHARES-REINVESTED>                                930
<NET-CHANGE-IN-ASSETS>                         333,892
<ACCUMULATED-NII-PRIOR>                             27
<ACCUMULATED-GAINS-PRIOR>                    (265,871)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          112,182
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                         2,715,402
<PER-SHARE-NAV-BEGIN>                            12.46
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                           1.35
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                          .04
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.77
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 3
   <NAME> U.S. GOVERNMENT SECURITIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       21,960,988
<INVESTMENTS-AT-VALUE>                      21,741,936
<RECEIVABLES>                                  154,491
<ASSETS-OTHER>                                   2,389
<OTHER-ITEMS-ASSETS>                             2,994
<TOTAL-ASSETS>                              21,901,810
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       58,595
<TOTAL-LIABILITIES>                             58,595
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    26,526,256
<SHARES-COMMON-STOCK>                        2,366,923
<SHARES-COMMON-PRIOR>                        2,642,220
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (4,463,989)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (219,052)
<NET-ASSETS>                                21,843,215
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,581,093
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 268,957
<NET-INVESTMENT-INCOME>                      1,312,136
<REALIZED-GAINS-CURRENT>                     (386,798)
<APPREC-INCREASE-CURRENT>                    (119,168)
<NET-CHANGE-FROM-OPS>                          806,170
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,312,136
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        317,801
<NUMBER-OF-SHARES-REDEEMED>                    707,804
<SHARES-REINVESTED>                            114,706
<NET-CHANGE-IN-ASSETS>                     (3,073,210)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (4,077,191)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          168,101
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                286,457
<AVERAGE-NET-ASSETS>                        22,451,672
<PER-SHARE-NAV-BEGIN>                             9.43
<PER-SHARE-NII>                                    .55
<PER-SHARE-GAIN-APPREC>                          (.20)
<PER-SHARE-DIVIDEND>                               .55
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.23
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 4
   <NAME> TREASURY TOTAL RETURN FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       10,113,121
<INVESTMENTS-AT-VALUE>                      10,110,743
<RECEIVABLES>                                    3,856
<ASSETS-OTHER>                                   1,961
<OTHER-ITEMS-ASSETS>                               433
<TOTAL-ASSETS>                              10,116,993
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       57,621
<TOTAL-LIABILITIES>                             57,621
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    12,694,500
<SHARES-COMMON-STOCK>                        1,254,345
<SHARES-COMMON-PRIOR>                        1,866,811
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (2,632,750)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (2,378)
<NET-ASSETS>                                10,059,372
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              673,624
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 154,790
<NET-INVESTMENT-INCOME>                        518,834
<REALIZED-GAINS-CURRENT>                     (561,549)
<APPREC-INCREASE-CURRENT>                      286,795
<NET-CHANGE-FROM-OPS>                          244,080
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      518,834
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         16,063
<NUMBER-OF-SHARES-REDEEMED>                    681,539
<SHARES-REINVESTED>                             53,010
<NET-CHANGE-IN-ASSETS>                     (5,284,897)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (2,071,201)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           92,874
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                210,790
<AVERAGE-NET-ASSETS>                        12,395,420
<PER-SHARE-NAV-BEGIN>                             8.22
<PER-SHARE-NII>                                    .34
<PER-SHARE-GAIN-APPREC>                          (.20)
<PER-SHARE-DIVIDEND>                               .34
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.02
<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 51
   <NAME> UTILITY FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       32,540,096
<INVESTMENTS-AT-VALUE>                      39,174,797
<RECEIVABLES>                                  167,910
<ASSETS-OTHER>                                   5,079
<OTHER-ITEMS-ASSETS>                               574
<TOTAL-ASSETS>                              39,348,360
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      161,933
<TOTAL-LIABILITIES>                            161,933
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    32,299,943
<SHARES-COMMON-STOCK>                        2,900,247
<SHARES-COMMON-PRIOR>                        3,302,863
<ACCUMULATED-NII-CURRENT>                          242
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        251,541
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     6,634,701
<NET-ASSETS>                                36,087,240
<DIVIDEND-INCOME>                            1,765,979
<INTEREST-INCOME>                              320,037
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 557,465
<NET-INVESTMENT-INCOME>                      1,528,551
<REALIZED-GAINS-CURRENT>                       349,605
<APPREC-INCREASE-CURRENT>                      517,054
<NET-CHANGE-FROM-OPS>                        2,395,210
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,429,043
<DISTRIBUTIONS-OF-GAINS>                        62,089
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        295,396
<NUMBER-OF-SHARES-REDEEMED>                    802,704
<SHARES-REINVESTED>                            104,692
<NET-CHANGE-IN-ASSETS>                     (4,337,248)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (30,527)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          319,201
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                557,465
<AVERAGE-NET-ASSETS>                        39,232,666
<PER-SHARE-NAV-BEGIN>                            12.24
<PER-SHARE-NII>                                    .46
<PER-SHARE-GAIN-APPREC>                            .22
<PER-SHARE-DIVIDEND>                               .46
<PER-SHARE-DISTRIBUTIONS>                          .02
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.44
<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 53
   <NAME> UTILITY FUND CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       32,540,096
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