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012 A00AA01 PC&J SERVICE CORP
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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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SIGNATURE KATHLEEN CARLSON
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FUND'S FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR THE
TWELVE MONTHS ENDED DECEMBER 31, 1997.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> PC&J PERFORMANCE FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 22,489,088
<INVESTMENTS-AT-VALUE> 37,462,573
<RECEIVABLES> 36,894
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 37,499,467
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 46,925
<TOTAL-LIABILITIES> 46,925
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,479,057
<SHARES-COMMON-STOCK> 1,386,528
<SHARES-COMMON-PRIOR> 1,356,577
<ACCUMULATED-NII-CURRENT> (39,574)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 14,973,485
<NET-ASSETS> 37,452,542
<DIVIDEND-INCOME> 329,522
<INTEREST-INCOME> 119,573
<OTHER-INCOME> 0
<EXPENSES-NET> 488,669
<NET-INVESTMENT-INCOME> (39,574)
<REALIZED-GAINS-CURRENT> 2,108,810
<APPREC-INCREASE-CURRENT> 7,656,945
<NET-CHANGE-FROM-OPS> 9,726,181
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 2,108,810
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 154,500
<NUMBER-OF-SHARES-REDEEMED> 202,619
<SHARES-REINVESTED> 78,070
<NET-CHANGE-IN-ASSETS> 8,814,550
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 325,779
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 32,563,077
<PER-SHARE-NAV-BEGIN> 21.11
<PER-SHARE-NII> (0.03)
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<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.61
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<EXPENSE-RATIO> 1.50
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</TABLE>
The Board of Trustees
PC&J Performance Fund
In planning and performing our audit of the financial statements of PC&J
Performance Fund (the `Fund') for the year ended December 31, 1997 (on
which we have issued our report dated January 16, 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, and not to provide assurance on the
Fund's internal control.
The management of the Fund 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 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 the Fund's 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 of the internal control components does not
reduce to a relatively low level the risk that errors 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 the Fund's internal control and its operation,
including controls for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of management,
the Board of Trustees of the Fund, and the Securities and Exchange
Commission.
DELOITTE & TOUCHE LLP
January 16, 1998
Dayton, Ohio
