<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 744376
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 VKAC GOVERNMENT SECURITIES FUND
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002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
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004 000000 N
005 000000 N
006 000000 N
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011 B000001 8-19903
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011 C020001 IL
011 C030001 60181
012 A000001 ACCESS INVESTORS SERVICES, INC.
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
012 C040001 9256
013 A000001 PRICEWATERHOUSECOOPERS, LLP
013 B010001 HOUSTON
<PAGE> PAGE 2
013 B020001 TX
013 B030001 77002
014 A000001 MORGAN STANLEY & CO., INCORPORATED
014 B000001 8-00733537
014 A000002 DEAN WITTER REYNOLDS, INC.
014 B000002 8-00728181
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
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019 C000000 VANKAMPENA
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020 C000001 208
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020 C000002 191
020 A000003 CREDIT AGRICOLE
020 B000003 13-3518368
020 C000003 121
020 A000004 SMITH BARNEY
020 B000004 13-1912900
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020 A000005 GREENWICH PARTNERS
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020 C000005 2
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022 A000002 DONALDSON LUFKIN JENNRETTE
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022 C000003 846617
022 D000003 831797
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
<PAGE> PAGE 3
022 C000004 576109
022 D000004 421237
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022 C000005 776206
022 D000005 76418
022 A000006 UBS SECURITIES
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022 C000006 415723
022 D000006 202926
022 A000007 BA SECURITIES
022 B000007 95-4035346
022 C000007 468434
022 D000007 0
022 A000008 DAVIS MENDEL & REGENSTEIN
022 B000008 58-1412594
022 C000008 345833
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022 B000009 13-1339216
022 C000009 276426
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022 A000010 GREENWICH CAPITAL MARKETS
022 B000010 13-2697091
022 C000010 76416
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025 B000001 95-4035346
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025 D000007 0
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<PAGE> PAGE 4
028 A020000 6426
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 H010000 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE NICK DALMASO
TITLE ATTORNEY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> GOV'T SECS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,970,927,810 <F1>
<INVESTMENTS-AT-VALUE> 2,027,808,995 <F1>
<RECEIVABLES> 52,266,488 <F1>
<ASSETS-OTHER> 154,488 <F1>
<OTHER-ITEMS-ASSETS> 622,982 <F1>
<TOTAL-ASSETS> 2,080,852,953 <F1>
<PAYABLE-FOR-SECURITIES> 0 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 20,724,550 <F1>
<TOTAL-LIABILITIES> 20,724,550 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,517,585,839
<SHARES-COMMON-STOCK> 183,162,717
<SHARES-COMMON-PRIOR> 188,164,401
<ACCUMULATED-NII-CURRENT> (683,431)<F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> (644,258,423)<F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 64,608,862 <F1>
<NET-ASSETS> 1,880,117,447
<DIVIDEND-INCOME> 0 <F1>
<INTEREST-INCOME> 77,416,545 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (11,243,868)<F1>
<NET-INVESTMENT-INCOME> 66,172,677 <F1>
<REALIZED-GAINS-CURRENT> 4,504,393 <F1>
<APPREC-INCREASE-CURRENT> (2,691,562)<F1>
<NET-CHANGE-FROM-OPS> 67,985,508 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> (61,393,587)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,656,593
<NUMBER-OF-SHARES-REDEEMED> (35,013,965)
<SHARES-REINVESTED> 3,355,688
<NET-CHANGE-IN-ASSETS> (50,309,639)
<ACCUMULATED-NII-PRIOR> 275,800 <F1>
<ACCUMULATED-GAINS-PRIOR> (648,762,816)<F1>
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<AVERAGE-NET-ASSETS> 1,907,686,425
<PER-SHARE-NAV-BEGIN> 10.259
<PER-SHARE-NII> 0.320
<PER-SHARE-GAIN-APPREC> 0.015
<PER-SHARE-DIVIDEND> (0.330)
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<PER-SHARE-NAV-END> 10.264
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0 <F1>
<AVG-DEBT-PER-SHARE> 0 <F1>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> GOV'T SECS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,970,927,810 <F1>
<INVESTMENTS-AT-VALUE> 2,027,808,995 <F1>
<RECEIVABLES> 52,266,488 <F1>
<ASSETS-OTHER> 154,488 <F1>
<OTHER-ITEMS-ASSETS> 622,982 <F1>
<TOTAL-ASSETS> 2,080,852,953 <F1>
<PAYABLE-FOR-SECURITIES> 0 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 20,724,550 <F1>
<TOTAL-LIABILITIES> 20,724,550 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 111,666,188
<SHARES-COMMON-STOCK> 16,056,991
<SHARES-COMMON-PRIOR> 19,408,832
<ACCUMULATED-NII-CURRENT> (683,431)<F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> (644,258,423)<F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 64,608,862 <F1>
<NET-ASSETS> 164,801,936
<DIVIDEND-INCOME> 0 <F1>
<INTEREST-INCOME> 77,416,545 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (11,243,868)<F1>
<NET-INVESTMENT-INCOME> 66,172,677 <F1>
<REALIZED-GAINS-CURRENT> 4,504,393 <F1>
<APPREC-INCREASE-CURRENT> (2,691,562)<F1>
<NET-CHANGE-FROM-OPS> 67,985,508 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> (5,280,892)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,492,180
<NUMBER-OF-SHARES-REDEEMED> (5,162,310)
<SHARES-REINVESTED> 318,289
<NET-CHANGE-IN-ASSETS> (34,351,070)
<ACCUMULATED-NII-PRIOR> 275,800 <F1>
<ACCUMULATED-GAINS-PRIOR> (648,762,816)<F1>
<OVERDISTRIB-NII-PRIOR> 0 <F1>
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<GROSS-ADVISORY-FEES> 5,492,923 <F1>
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<GROSS-EXPENSE> 11,243,868 <F1>
<AVERAGE-NET-ASSETS> 183,397,709
<PER-SHARE-NAV-BEGIN> 10.261
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<PER-SHARE-DIVIDEND> (0.294)
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<PER-SHARE-NAV-END> 10.264
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<AVG-DEBT-PER-SHARE> 0 <F1>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
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</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> GOV'T SECS C
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
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<OTHER-ITEMS-ASSETS> 622,982 <F1>
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<OTHER-ITEMS-LIABILITIES> 20,724,550 <F1>
<TOTAL-LIABILITIES> 20,724,550 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,209,368
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<SHARES-COMMON-PRIOR> 1,598,797
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<INTEREST-INCOME> 77,416,545 <F1>
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<EXPENSES-NET> (11,243,868)<F1>
<NET-INVESTMENT-INCOME> 66,172,677 <F1>
<REALIZED-GAINS-CURRENT> 4,504,393 <F1>
<APPREC-INCREASE-CURRENT> (2,691,562)<F1>
<NET-CHANGE-FROM-OPS> 67,985,508 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> (457,429)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 141,612
<NUMBER-OF-SHARES-REDEEMED> (286,678)
<SHARES-REINVESTED> 31,360
<NET-CHANGE-IN-ASSETS> (1,161,084)
<ACCUMULATED-NII-PRIOR> 275,800 <F1>
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</TABLE>
