MAXUS INCOME FUND
NSAR-A, 1997-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 0000756976
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 MAXUS INCOME FUND
001 B000000 811-4144
001 C000000 2162923434
002 A000000 28601 CHAGRIN BLVD.  SUITE 500
002 B000000 CLEVELAND
002 C000000 OH
002 D010000 44122
002 D020000 4500
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
020 A000001 MAXUS SECURITIES CORP.
020 B000001 34-1151660
020 C000001     89
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       89
022 A000001 BEAR STEARNS
022 B000001 13-3604093
022 C000001       625
022 D000001         0
022 A000002 EVEREN SECURITIES
022 B000002 34-1542819
022 C000002      1694
022 D000002         0
022 A000003 MCDONALD & COMPANY
022 B000003 34-1391952
022 C000003       424
022 D000003         0
022 A000004 MAXUS SECURITIES CORP.
022 B000004 34-1151660
022 C000004      2375
<PAGE>      PAGE  2
022 D000004      1070
022 A000005 INTERSTATE JOHNSON
022 B000005 56-0276690
022 C000005       210
022 D000005         0
022 A000006 SMITH BARNEY
022 B000006 13-1912900
022 C000006      1003
022 D000006         0
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022 D000007         0
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023 D000000       1070
028 A010000       328
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028 A040000      1780
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028 B030000         0
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<PAGE>      PAGE  3
030 C000000  0.00
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048 I010000        0
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048 K010000   150000
048 K020000 0.750
062 A000000 Y
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<PAGE>      PAGE  4
062 O000000   0.0
062 P000000   4.2
062 Q000000   0.0
062 R000000  84.5
063 A000000   0
063 B000000  3.4
064 A000000 N
065  000000 N
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 N
066 F000000 N
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067  000000 N
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<PAGE>      PAGE  5
072CC010000      401
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072DD010000     1046
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073 A010000   0.3250
073 A020000   0.0000
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073 C000000   0.0000
074 A000000     2248
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074 D000000     1487
074 E000000    16152
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074 R040000       50
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074 V010000    11.07
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074 Y000000        0
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075 B000000    35325
076  000000     0.00
077 A000000 N
078  000000 N
080 A000000 NATIONAL UNION FIRE INSUR. OF PITTSBURG
080 C000000     1250
081 A000000 Y
081 B000000   5
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<PAGE>      PAGE  6
083 B000000        0
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SIGNATURE   ROBERT W. CURTIN                             
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       34,658,275
<INVESTMENTS-AT-VALUE>                      35,645,483
<RECEIVABLES>                                  641,815
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              36,287,298
<PAYABLE-FOR-SECURITIES>                       368,000
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      121,709
<TOTAL-LIABILITIES>                            489,709
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    35,508,832
<SHARES-COMMON-STOCK>                        3,233,659
<SHARES-COMMON-PRIOR>                        3,314,206
<ACCUMULATED-NII-CURRENT>                    1,092,686
<OVERDISTRIBUTION-NII>                        (46,621)
<ACCUMULATED-NET-GAINS>                      (745,075)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       987,211
<NET-ASSETS>                                35,797,589
<DIVIDEND-INCOME>                            1,141,172
<INTEREST-INCOME>                              280,682
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 329,168
<NET-INVESTMENT-INCOME>                      1,990,139
<REALIZED-GAINS-CURRENT>                       496,493
<APPREC-INCREASE-CURRENT>                      400,960
<NET-CHANGE-FROM-OPS>                        1,990,139
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,046,466)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        250,184
<NUMBER-OF-SHARES-REDEEMED>                  (402,690)
<SHARES-REINVESTED>                             71,959
<NET-CHANGE-IN-ASSETS>                          69,685
<ACCUMULATED-NII-PRIOR>                          3,541
<ACCUMULATED-GAINS-PRIOR>                  (1,241,568)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          174,251
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                329,168
<AVERAGE-NET-ASSETS>                        35,325,353
<PER-SHARE-NAV-BEGIN>                            10.78
<PER-SHARE-NII>                                   0.34
<PER-SHARE-GAIN-APPREC>                           0.28
<PER-SHARE-DIVIDEND>                            (0.33)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              11.07
<EXPENSE-RATIO>                                   1.86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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