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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 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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<PAGE> PAGE 41
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068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
<PAGE> PAGE 42
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 Y
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 N
070 M010900 Y
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 Y
070 Q020900 N
070 R010900 Y
070 R020900 N
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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SIGNATURE CATHERINE VACCA
TITLE DEPUTY MANAGER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1
<SERIES>
<NUMBER> 001
<NAME> Class C
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<NUMBER> 001
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 001
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1
<SERIES>
<NUMBER> 001
<NAME> Class A
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> Class D
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<SERIES>
<NUMBER> 001
<NAME> Class A
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class D
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class B
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class C
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class A
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class D
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class B
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<S> <C>
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<GROSS-ADVISORY-FEES> "120,030 "
<INTEREST-EXPENSE> "2,048 "
<GROSS-EXPENSE> "308,380 "
<AVERAGE-NET-ASSETS> "24,488,755 "
<PER-SHARE-NAV-BEGIN> 8.90
<PER-SHARE-NII> .00
<PER-SHARE-GAIN-APPREC> (.68)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.22
<EXPENSE-RATIO> 3.22
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class C
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6 Months
<FISCAL-YEAR-END> Dec-31-1998
<PERIOD-START> Jan-1-1998
<PERIOD-END> Jun-30-1998
<INVESTMENTS-AT-COST> "32,866,277 "
<INVESTMENTS-AT-VALUE> "20,167,737 "
<RECEIVABLES> "1,045,388 "
<ASSETS-OTHER> "56,896 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "21,270,021 "
<PAYABLE-FOR-SECURITIES> "83,709 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "255,676 "
<TOTAL-LIABILITIES> "339,385 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "45,549,768 "
<SHARES-COMMON-STOCK> 820
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(293,589)"
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> "(11,962,797)"
<ACCUM-APPREC-OR-DEPREC> "(12,362,746)"
<NET-ASSETS> "20,930,636 "
<DIVIDEND-INCOME> "291,036 "
<INTEREST-INCOME> "34,608 "
<OTHER-INCOME> 0
<EXPENSES-NET> "308,380 "
<NET-INVESTMENT-INCOME> "17,264 "
<REALIZED-GAINS-CURRENT> "(6,257,171)"
<APPREC-INCREASE-CURRENT> "2,293,474"
<NET-CHANGE-FROM-OPS> "(3,946,433)"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "7,000 "
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> "(3,697,704)"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> "(310,853)"
<OVERDIST-NET-GAINS-PRIOR> "(5,705,626)"
<GROSS-ADVISORY-FEES> "120,030 "
<INTEREST-EXPENSE> "2,048 "
<GROSS-EXPENSE> "308,380 "
<AVERAGE-NET-ASSETS> "24,488,755 "
<PER-SHARE-NAV-BEGIN> 8.53
<PER-SHARE-NII> .00
<PER-SHARE-GAIN-APPREC> (.42)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.11
<EXPENSE-RATIO> 3.18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
ITEM 77.C Copy of Notice of Meeting, Proxy Statement and Proxy
Card was filed by the Registrant on February 17, 1998 File No.
811-04062.
ITEM 77.D Copy of Notice of Meeting, Proxy Statement and Proxy
Card was filed by the Registrant on February 17, 1998 File No.
811-04062.
ITEM 77.I Terms of new or amended securities
At the April 29, 1998 meeting of the Board of Directors of the
GAM Funds Inc. (The "Funds") two new share classes of the funds,
Class B and Class C, were authorized for offering. The two new
classes are currently available for all series of the funds
except the GAM Asian Capital Fund. Each share class of a series
(currently Classes A, B, C and D are offered) represent an
interest in the same portfolio of investments and have identical
voting, dividend, liquidation and other rights, except that (i)
Classes A and D may have a front end sales charge and Classes B
and C have a contingent deferred sales charge, (ii) each class
bears its separate distribution and certain class expenses,
(iii) Class B is subject to a conversion feature, and (iv) each
class has exclusive voting rights with respect to any matter on
which a separate vote of any classes is required by federal or
state law.
