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<PAGE> PAGE 11
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<PAGE> PAGE 13
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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048 J020400 0.000
048 K010400 0
048 K020400 0.000
054 A000400 Y
054 B000400 Y
054 C000400 Y
054 D000400 N
<PAGE> PAGE 21
054 E000400 N
054 F000400 N
054 G000400 N
054 H000400 N
054 I000400 N
054 J000400 N
054 K000400 N
054 L000400 N
054 M000400 Y
054 N000400 N
054 O000400 N
062 A000400 Y
062 B000400 5.1
062 C000400 30.4
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 64.5
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 52
063 B000400 0.0
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
<PAGE> PAGE 22
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 6
072 B000400 423
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 39
072 G000400 0
072 H000400 0
072 I000400 0
072 J000400 6
072 K000400 0
072 L000400 0
072 M000400 1
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 1
072 S000400 1
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 2
072 X000400 50
<PAGE> PAGE 23
072 Y000400 1
072 Z000400 374
072AA000400 0
072BB000400 0
072CC010400 0
072CC020400 0
072DD010400 373
072DD020400 0
072EE000400 0
073 A010400 0.0200
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 19542
074 D000400 0
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 11
074 M000400 0
074 N000400 19553
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 12
074 S000400 0
074 T000400 19541
074 U010400 19542
074 U020400 0
074 V010400 1.00
074 V020400 0.00
074 W000400 1.0000
074 X000400 936
074 Y000400 0
075 A000400 15802
075 B000400 0
076 000400 0.00
024 000500 N
025 D000501 0
025 D000502 0
025 D000503 0
025 D000504 0
<PAGE> PAGE 24
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 0
028 A020500 0
028 A030500 0
028 A040500 0
028 B010500 0
028 B020500 0
028 B030500 0
028 B040500 0
028 C010500 0
028 C020500 0
028 C030500 0
028 C040500 0
028 D010500 0
028 D020500 0
028 D030500 0
028 D040500 0
028 E010500 0
028 E020500 0
028 E030500 0
028 E040500 0
028 F010500 0
028 F020500 0
028 F030500 0
028 F040500 0
028 G010500 0
028 G020500 0
028 G030500 0
028 G040500 0
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.450
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
<PAGE> PAGE 25
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
054 A000500 Y
054 B000500 Y
054 C000500 Y
054 D000500 Y
054 E000500 Y
054 F000500 Y
054 G000500 Y
054 H000500 N
054 I000500 Y
054 J000500 N
054 K000500 Y
054 L000500 Y
054 M000500 Y
054 N000500 Y
054 O000500 Y
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 100.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 4.4
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
<PAGE> PAGE 26
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 Y
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 1525
071 D000500 0
072 A000500 6
072 B000500 56
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 3
072 G000500 0
072 H000500 0
072 I000500 0
072 J000500 0
072 K000500 0
072 L000500 0
<PAGE> PAGE 27
072 M000500 0
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 0
072 S000500 0
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 0
072 X000500 3
072 Y000500 0
072 Z000500 53
072AA000500 0
072BB000500 0
072CC010500 0
072CC020500 88
072DD010500 53
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 1515
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 0
074 M000500 0
074 N000500 1515
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 4
074 S000500 0
074 T000500 1511
074 U010500 183
074 U020500 0
074 V010500 8.28
<PAGE> PAGE 28
074 V020500 0.00
074 W000500 0.0000
074 X000500 612
074 Y000500 0
075 A000500 0
075 B000500 1520
076 000500 0.00
024 000600 Y
025 A000601 A.G. EDWARDS, INC.
025 B000601 43-1288229
025 C000601 E
025 D000601 990
025 A000602 SALOMON INC.
025 B000602 22-1660266
025 C000602 E
025 D000602 1104
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 3338
028 A020600 7
028 A030600 0
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028 B010600 3639
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028 E020600 118
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028 G010600 25532
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<PAGE> PAGE 29
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.500
048 A010600 0
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048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
054 A000600 Y
054 B000600 Y
054 C000600 Y
054 D000600 N
054 E000600 N
054 F000600 N
054 G000600 N
054 H000600 N
054 I000600 N
054 J000600 N
054 K000600 N
054 L000600 N
054 M000600 Y
054 N000600 N
054 O000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
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<PAGE> PAGE 30
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 N
070 M020600 N
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070 N020600 N
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070 O020600 N
<PAGE> PAGE 31
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 38183
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071 C000600 54362
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072 A000600 6
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072 C000600 355
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<PAGE> PAGE 32
074 E000600 0
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074 T000600 66792
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075 B000600 53994
076 000600 0.00
SIGNATURE MICHAEL S. DAUBS
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> GROWTH AND INCOME STOCK SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 145,433,124
<INVESTMENTS-AT-VALUE> 161,382,429
<RECEIVABLES> 1,655,255
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 163,037,684
<PAYABLE-FOR-SECURITIES> 2,321,031
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 77,205
<TOTAL-LIABILITIES> 2,398,236
<SENIOR-EQUITY> 82,470
<PAID-IN-CAPITAL-COMMON> 140,067,055
<SHARES-COMMON-STOCK> 8,246,972
<SHARES-COMMON-PRIOR> 5,611,047
<ACCUMULATED-NII-CURRENT> 636,989
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,903,629
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,949,305
<NET-ASSETS> 160,639,448
<DIVIDEND-INCOME> 1,403,749
<INTEREST-INCOME> 223,626
<OTHER-INCOME> 0
<EXPENSES-NET> 414,665
<NET-INVESTMENT-INCOME> 1,212,710
<REALIZED-GAINS-CURRENT> 3,903,629
<APPREC-INCREASE-CURRENT> 3,740,598
<NET-CHANGE-FROM-OPS> 8,856,937
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 586,712
<DISTRIBUTIONS-OF-GAINS> 159,518
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,771,798
<NUMBER-OF-SHARES-REDEEMED> 175,467
<SHARES-REINVESTED> 39,594
<NET-CHANGE-IN-ASSETS> 2,635,925
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 321,753
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 415,982
<AVERAGE-NET-ASSETS> 130,487,424
<PER-SHARE-NAV-BEGIN> 18.20
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> 1.22
<PER-SHARE-DIVIDEND> (.08)
<PER-SHARE-DISTRIBUTIONS> (.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.48
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> BALANCED SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 143,451,505
<INVESTMENTS-AT-VALUE> 149,804,886
<RECEIVABLES> 2,237,855
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 152,042,741
<PAYABLE-FOR-SECURITIES> 142,497
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,571
<TOTAL-LIABILITIES> 216,068
<SENIOR-EQUITY> 101,619
<PAID-IN-CAPITAL-COMMON> 140,048,250
<SHARES-COMMON-STOCK> 10,161,857
<SHARES-COMMON-PRIOR> 7,585,243
<ACCUMULATED-NII-CURRENT> 1,347,778
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,975,645
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,353,381
<NET-ASSETS> 151,826,673
<DIVIDEND-INCOME> 564,849
<INTEREST-INCOME> 2,346,157
<OTHER-INCOME> 0
<EXPENSES-NET> 419,429
<NET-INVESTMENT-INCOME> 2,491,577
<REALIZED-GAINS-CURRENT> 3,975,645
<APPREC-INCREASE-CURRENT> (2,633,949)
<NET-CHANGE-FROM-OPS> 3,833,273
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,167,468
<DISTRIBUTIONS-OF-GAINS> 193,364
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,819,408
<NUMBER-OF-SHARES-REDEEMED> 334,995
<SHARES-REINVESTED> 92,201
<NET-CHANGE-IN-ASSETS> 2,576,614
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 325,588
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 420,379
<AVERAGE-NET-ASSETS> 131,710,170
<PER-SHARE-NAV-BEGIN> 14.63
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> .31
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> (.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.94
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> BOND SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 20,102,601
<INVESTMENTS-AT-VALUE> 19,837,987
<RECEIVABLES> 317,987
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,155,974
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,569
<TOTAL-LIABILITIES> 9,569
<SENIOR-EQUITY> 19,595
<PAID-IN-CAPITAL-COMMON> 20,067,476
<SHARES-COMMON-STOCK> 1,959,490
<SHARES-COMMON-PRIOR> 1,291,279
<ACCUMULATED-NII-CURRENT> 277,498
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46,450
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (264,614)
<NET-ASSETS> 20,146,405
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 564,442
<OTHER-INCOME> 0
<EXPENSES-NET> 53,578
<NET-INVESTMENT-INCOME> 510,864
<REALIZED-GAINS-CURRENT> 46,450
<APPREC-INCREASE-CURRENT> (836,652)
<NET-CHANGE-FROM-OPS> (279,338)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 237,851
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 859,537
<NUMBER-OF-SHARES-REDEEMED> 214,885
<SHARES-REINVESTED> 23,559
<NET-CHANGE-IN-ASSETS> 668,211
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,586
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 55,408
<AVERAGE-NET-ASSETS> 16,843,767
<PER-SHARE-NAV-BEGIN> 10.63
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> (.36)
<PER-SHARE-DIVIDEND> .00
<PER-SHARE-DISTRIBUTIONS> .14
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 10.28
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> MONEY MARKET SERIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 19,542,580
<INVESTMENTS-AT-VALUE> 19,542,580
<RECEIVABLES> 11,197
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,553,777
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,057
<TOTAL-LIABILITIES> 12,057
<SENIOR-EQUITY> 195,417
<PAID-IN-CAPITAL-COMMON> 19,346,303
<SHARES-COMMON-STOCK> 19,541,720
<SHARES-COMMON-PRIOR> 11,374,129
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 19,541,720
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 423,966
<OTHER-INCOME> 0
<EXPENSES-NET> 50,039
<NET-INVESTMENT-INCOME> 373,927
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 373,927
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 373,927
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,153,979
<NUMBER-OF-SHARES-REDEEMED> 10,360,315
<SHARES-REINVESTED> 373,927
<NET-CHANGE-IN-ASSETS> 8,167,591
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 38,825
<INTEREST-EXPENSE> 0
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<NAME> TREASURY 2000 SERIES
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