RIGHTIME FUND INC
NSAR-B, 1996-12-23
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<PAGE>      PAGE  1
000 B000000 10/31/96
000 C000000 0000763727
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 THE RIGHTIME FUND INC
001 B000000 811-4231
001 C000000 2158878111
002 A000000 218 GLENSIDE AVENUE
002 B000000 WYNCOTE
002 C000000 PA
002 D010000 19095
002 D020000 1595
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 THE RIGHTIME FUND
007 C030100 N
007 C010200  2
007 C020200 THE RIGHTIME GOVERNMENT SECURITIES FUND
007 C030200 N
007 C010300  3
007 C020300 THE RIGHTIME BLUE CHIP FUND
007 C030300 N
007 C010400  4
007 C020400 THE RIGHTIME SOCIAL AWARENESS FUND
007 C030400 N
007 C010500  5
007 C020500 THE RIGHTIME MIDCAP FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
<PAGE>      PAGE  2
007 C011900 19
007 C012000 20
008 A00AA01 RIGHTIME ECONOMETRICS INC.
008 B00AA01 A
008 C00AA01 801-22127
008 D01AA01 WYNCOTE
008 D02AA01 PA
008 D03AA01 19095
008 D04AA01 1595
010 A00AA01 RIGHTIME ADMINISTRATORS
010 C01AA01 WYNCOTE
010 C02AA01 PA
010 C03AA01 19095
010 C04AA01 1595
011 A00AA01 LINCOLN INVESTMENT PLANNING INC
011 B00AA01 8-14354
011 C01AA01 WYNCOTE
011 C02AA01 PA
011 C03AA01 19095
011 C04AA01 1595
012 A00AA01 LINCOLN INVESTMENT PLANNING
012 B00AA01 84-1440
012 C01AA01 WYNCOTE
012 C02AA01 PA
012 C03AA01 19095
012 C04AA01 1595
013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19107
015 A00AA01 CORESTATES BANK
015 B00AA01 C
015 C01AA01 PHILADELPHIA
015 C02AA01 PA
015 C03AA01 19106
015 E01AA01 X
018  00AA00 N
019 A00AA00 N
019 B00AA00    0
020 A000001 MORGAN STANLEY & COMPANY
020 B000001 132655998
020 C000001     15
020 A000002 SMITH BARNEY INC
020 B000002 132869611
020 C000002      5
020 A000003 GOLDMAN SACHS & COMPANY
020 B000003 132570880
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<PAGE>      PAGE  3
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022 A000001 SMITH BARNEY INC.
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022 A000002 SANWA BGK SECURITIES
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022 A000004 WHEAT FIRST
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022 A000007 LINCOLN INVESTMENT PLANNING INC
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<PAGE>      PAGE  4
025 D00AA08       0
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<PAGE>      PAGE  5
061  00AA00     2000
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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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  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
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
066 A000400 Y
066 E000400 Y
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 Y
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
<PAGE>      PAGE  20
070 I010400 N
070 I020400 N
070 J010400 N
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 Y
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400      3352
071 B000400     10857
071 C000400      7197
071 D000400   47
072 A000400 12
072 B000400      260
072 C000400       61
072 D000400        0
072 E000400        0
072 F000400       41
072 G000400       69
072 H000400        0
072 I000400       10
072 J000400        4
072 K000400        0
072 L000400        1
072 M000400        1
072 N000400        7
072 O000400        0
072 P000400        0
072 Q000400       13
072 R000400        4
072 S000400        1
072 T000400       41
072 U000400        0
072 V000400        0
072 W000400        6
072 X000400      198
072 Y000400        0
072 Z000400      123
072AA000400     2106
<PAGE>      PAGE  21
072BB000400      137
072CC010400        0
072CC020400     1100
072DD010400        0
072DD020400        0
072EE000400     1799
073 A010400   0.0000
073 A020400   0.0000
073 B000400   7.5700
073 C000400   0.0000
074 A000400       13
074 B000400      700
074 C000400     7988
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        3
074 M000400        2
074 N000400     8706
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     8694
074 U010400      299
074 U020400        0
074 V010400    29.09
074 V020400     0.00
074 W000400   0.0000
074 X000400     1130
074 Y000400        0
075 A000400        0
075 B000400     8166
076  000400     0.00
028 A010500       490
028 A020500         0
028 A030500         0
028 A040500       658
028 B010500       904
028 B020500     13387
028 B030500         0
028 B040500      1234
<PAGE>      PAGE  22
028 C010500       937
028 C020500         0
028 C030500         0
028 C040500       939
028 D010500       609
028 D020500         0
028 D030500         0
028 D040500       573
028 E010500       399
028 E020500         0
028 E030500         0
028 E040500       609
028 F010500       722
028 F020500         0
028 F030500         0
028 F040500      1004
028 G010500      4061
028 G020500     13387
028 G030500         0
028 G040500      5017
028 H000500      2916
029  000500 Y
030 A000500    138
030 B000500  4.75
030 C000500  0.00
031 A000500     15
031 B000500      0
032  000500      1
033  000500    122
042 A000500   0
042 B000500   0
042 C000500 100
042 D000500   0
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500    201
044  000500      0
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.500
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
<PAGE>      PAGE  23
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
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
062 A000500 N
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   0.0
062 N000500   0.0
062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
066 A000500 Y
066 E000500 Y
067  000500 N
068 A000500 N
068 B000500 N
069  000500 Y
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 Y
070 G010500 Y
<PAGE>      PAGE  24
070 G020500 N
070 H010500 Y
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 N
070 R020500 N
071 A000500      2528
071 B000500     75052
071 C000500     70395
071 D000500    4
072 A000500 12
072 B000500     2533
072 C000500      568
072 D000500        0
072 E000500        0
072 F000500      396
072 G000500      674
072 H000500        0
072 I000500      118
072 J000500       15
072 K000500        1
072 L000500       11
072 M000500        7
072 N000500       12
072 O000500        0
072 P000500        0
072 Q000500       46
072 R000500       14
072 S000500        7
072 T000500      396
072 U000500        0
072 V000500        0
072 W000500       37
072 X000500     1734
<PAGE>      PAGE  25
072 Y000500        0
072 Z000500     1367
072AA000500    17822
072BB000500     2029
072CC010500        0
072CC020500     9977
072DD010500     1037
072DD020500        0
072EE000500     1243
073 A010500   0.1400
073 A020500   0.0000
073 B000500   6.8400
073 C000500   0.0000
074 A000500       12
074 B000500     4400
074 C000500    75897
074 D000500        0
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500        0
074 K000500        0
074 L000500       17
074 M000500       19
074 N000500    80345
074 O000500        0
074 P000500        0
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       41
074 S000500        0
074 T000500    80304
074 U010500     2767
074 U020500        0
074 V010500    29.02
074 V020500     0.00
074 W000500   0.0000
074 X000500     6583
074 Y000500        0
075 A000500        0
075 B000500    79302
076  000500     0.00
SIGNATURE   THOMAS FORST                                 
TITLE       ASSISTANT SECRETARY 
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE RIGHTIME FAMILY OF FUNDS EXHIBIT 27 - FINANCIAL DATA SCHEDULE
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMANTION EXTRACTED FROM THE
ANNUAL REPORT TO SHAREHOLDERS DATES OCTOBER 31, 1996 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL INFORMATION.
</LEGEND>
<SERIES>
   <NUMBER> 1
   <NAME> RIGHTIME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                      162,921,290
<INVESTMENTS-AT-VALUE>                     166,472,367
<RECEIVABLES>                                  308,705
<ASSETS-OTHER>                                  38,106
<OTHER-ITEMS-ASSETS>                               115
<TOTAL-ASSETS>                             166,819,293
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      329,013
<TOTAL-LIABILITIES>                            329,013
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   156,135,531
<SHARES-COMMON-STOCK>                        5,188,887
<SHARES-COMMON-PRIOR>                        4,233,065
<ACCUMULATED-NII-CURRENT>                    1,930,596
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      5,784,076
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,640,077
<NET-ASSETS>                               166,490,280
<DIVIDEND-INCOME>                            4,928,304
<INTEREST-INCOME>                            4,316,558
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (4,069,052)
<NET-INVESTMENT-INCOME>                      5,175,810
<REALIZED-GAINS-CURRENT>                    35,894,954
<APPREC-INCREASE-CURRENT>                 (27,003,507)
<NET-CHANGE-FROM-OPS>                       14,067,257
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (3,245,214)
<DISTRIBUTIONS-OF-GAINS>                  (34,013,909)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        468,508
<NUMBER-OF-SHARES-REDEEMED>                  (641,747)
<SHARES-REINVESTED>                          1,129,061
<NET-CHANGE-IN-ASSETS>                       7,524,241
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    3,903,031
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          830,865
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                830,865
<AVERAGE-NET-ASSETS>                       166,229,814
<PER-SHARE-NAV-BEGIN>                            37.55
<PER-SHARE-NII>                                   1.14
<PER-SHARE-GAIN-APPREC>                           2.11
<PER-SHARE-DIVIDEND>                               .77
<PER-SHARE-DISTRIBUTIONS>                         7.94
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              32.09
<EXPENSE-RATIO>                                   2.45
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE RIGHTIME FAMILY OF FUNDS EXHIBIT 27 - FINANCIAL DATA SCHEDULE.
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ANNUAL REPORT TO SHAREHOLDERS DATED OCTOBER 31, 1996 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL INFORMATION.
</LEGEND>
<SERIES>
   <NUMBER> 1
   <NAME> RIGHTIME GOVERNMENT SECURITIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                       10,344,811
<INVESTMENTS-AT-VALUE>                      10,605,236
<RECEIVABLES>                                   74,885
<ASSETS-OTHER>                                   3,127
<OTHER-ITEMS-ASSETS>                            59,067
<TOTAL-ASSETS>                              10,742,315
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       29,704
<TOTAL-LIABILITIES>                             29,704
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    16,296,737
<SHARES-COMMON-STOCK>                          847,040
<SHARES-COMMON-PRIOR>                        1,426,333
<ACCUMULATED-NII-CURRENT>                        2,088
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (5,513,545)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (72,669)
<NET-ASSETS>                                10,712,611
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              898,074
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (309,875)
<NET-INVESTMENT-INCOME>                        588,199
<REALIZED-GAINS-CURRENT>                       762,818
<APPREC-INCREASE-CURRENT>                  (1,114,091)
<NET-CHANGE-FROM-OPS>                          236,926
<EQUALIZATION>                                (18,607)
<DISTRIBUTIONS-OF-INCOME>                    (694,855)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         70,161
<NUMBER-OF-SHARES-REDEEMED>                  (699,840)
<SHARES-REINVESTED>                             50,386
<NET-CHANGE-IN-ASSETS>                     (7,920,248)
<ACCUMULATED-NII-PRIOR>                        127,351
<ACCUMULATED-GAINS-PRIOR>                  (6,276,363)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           57,725
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 57,725
<AVERAGE-NET-ASSETS>                        14,404,093
<PER-SHARE-NAV-BEGIN>                            13.06
<PER-SHARE-NII>                                   .052
<PER-SHARE-GAIN-APPREC>                          (.32)
<PER-SHARE-DIVIDEND>                               .61
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.65
<EXPENSE-RATIO>                                   2.15
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE RIGHTIME FAMILY OF FUNDS EXHIBIT 27 - FINANCIAL DATA SCHEDULE.
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ANNUAL REPORT TO SHAREHOLDERS DATED OCTOBER 31, 1996 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL INFORMATION.
</LEGEND>
<SERIES>
   <NUMBER> 3
   <NAME> RIGHTIME BLUE CHIP FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                      236,594,859
<INVESTMENTS-AT-VALUE>                     278,793,908
<RECEIVABLES>                                  297,607
<ASSETS-OTHER>                                  61,900
<OTHER-ITEMS-ASSETS>                            56,016
<TOTAL-ASSETS>                             279,209,431
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,570,348
<TOTAL-LIABILITIES>                          1,570,348
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   231,408,544
<SHARES-COMMON-STOCK>                        8,707,798
<SHARES-COMMON-PRIOR>                        7,600,332
<ACCUMULATED-NII-CURRENT>                    3,408,045
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      7,757,570
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    35,064,924
<NET-ASSETS>                               277,639,083
<DIVIDEND-INCOME>                            4,148,564
<INTEREST-INCOME>                            4,891,982
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (5,649,852)
<NET-INVESTMENT-INCOME>                      3,390,694
<REALIZED-GAINS-CURRENT>                    36,497,016
<APPREC-INCREASE-CURRENT>                  (9,392,418)
<NET-CHANGE-FROM-OPS>                       30,495,292
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,105,663)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        891,634
<NUMBER-OF-SHARES-REDEEMED>                  (959,181)
<SHARES-REINVESTED>                          1,175,013
<NET-CHANGE-IN-ASSETS>                      28,019,812
<ACCUMULATED-NII-PRIOR>                      2,064,369
<ACCUMULATED-GAINS-PRIOR>                    7,031,726
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,360,520
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,360,520
<AVERAGE-NET-ASSETS>                       272,204,986
<PER-SHARE-NAV-BEGIN>                            32.84
<PER-SHARE-NII>                                     .4
<PER-SHARE-GAIN-APPREC>                           3.52
<PER-SHARE-DIVIDEND>                               .28
<PER-SHARE-DISTRIBUTIONS>                          4.6
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              31.88
<EXPENSE-RATIO>                                   2.08
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE RIGHTIME FAMILY OF FUNDS EXHIBIT 27 - FINANCIAL DATA SCHEDULE.
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ANNUAL REPORT TO SHAREHOLDERS DATED OCTOBER 31, 1996 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL INFORMATION.
</LEGEND>
<SERIES>
   <NUMBER> 4
   <NAME> RIGHTIME SOCIAL AWARENESS FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                        8,688,292
<INVESTMENTS-AT-VALUE>                       8,688,292
<RECEIVABLES>                                    2,729
<ASSETS-OTHER>                                   1,812
<OTHER-ITEMS-ASSETS>                            13,513
<TOTAL-ASSETS>                               8,706,346
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       12,098
<TOTAL-LIABILITIES>                             12,098
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     8,273,326
<SHARES-COMMON-STOCK>                          298,882
<SHARES-COMMON-PRIOR>                          227,939
<ACCUMULATED-NII-CURRENT>                      123,444
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        297,478
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 8,694,248
<DIVIDEND-INCOME>                               61,393
<INTEREST-INCOME>                              259,921
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (197,870)
<NET-INVESTMENT-INCOME>                        123,444
<REALIZED-GAINS-CURRENT>                     1,969,179
<APPREC-INCREASE-CURRENT>                  (1,100,218)
<NET-CHANGE-FROM-OPS>                          992,405
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                   (1,799,322)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         43,737
<NUMBER-OF-SHARES-REDEEMED>                   (33,480)
<SHARES-REINVESTED>                             60,687
<NET-CHANGE-IN-ASSETS>                       1,316,185
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      127,621
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           40,814
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 40,814
<AVERAGE-NET-ASSETS>                         8,165,559
<PER-SHARE-NAV-BEGIN>                            32.37
<PER-SHARE-NII>                                    .41
<PER-SHARE-GAIN-APPREC>                           3.88
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         7.57
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              29.02
<EXPENSE-RATIO>                                   2.42
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE RIGHTIME FAMILY OF FUNDS EXHIBIT 27 - FINANCIAL DATA SCHEDULE.
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ANNUAL REPORT TO SHAREHOLDERS DATED OCTOBER 31, 1996 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL INFORMATION.
</LEGEND>
<SERIES>
   <NUMBER> 5
   <NAME> RIGHTIME MIDCAP FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
<INVESTMENTS-AT-COST>                       80,296,815
<INVESTMENTS-AT-VALUE>                      80,296,815
<RECEIVABLES>                                   17,392
<ASSETS-OTHER>                                  18,004
<OTHER-ITEMS-ASSETS>                            12,382
<TOTAL-ASSETS>                              80,344,593
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       40,633
<TOTAL-LIABILITIES>                             40,633
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    76,311,319
<SHARES-COMMON-STOCK>                        2,766,945
<SHARES-COMMON-PRIOR>                        2,278,756
<ACCUMULATED-NII-CURRENT>                    1,334,681
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,657,960
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                80,303,960
<DIVIDEND-INCOME>                              568,250
<INTEREST-INCOME>                            2,532,943
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,733,820)
<NET-INVESTMENT-INCOME>                      1,367,373
<REALIZED-GAINS-CURRENT>                    15,793,126
<APPREC-INCREASE-CURRENT>                  (9,976,725)
<NET-CHANGE-FROM-OPS>                        7,183,774
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (328,544)
<DISTRIBUTIONS-OF-GAINS>                  (15,773,543)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        261,155
<NUMBER-OF-SHARES-REDEEMED>                  (320,085)
<SHARES-REINVESTED>                            547,119
<NET-CHANGE-IN-ASSETS>                       5,217,665
<ACCUMULATED-NII-PRIOR>                        295,852
<ACCUMULATED-GAINS-PRIOR>                    2,638,377
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          296,405
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                296,405
<AVERAGE-NET-ASSETS>                        79,301,889
<PER-SHARE-NAV-BEGIN>                            32.95
<PER-SHARE-NII>                                    .49
<PER-SHARE-GAIN-APPREC>                           2.56
<PER-SHARE-DIVIDEND>                               .14
<PER-SHARE-DISTRIBUTIONS>                         6.84
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              29.02
<EXPENSE-RATIO>                                   2.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


TAIT, WELLER & BAKER
CERTIFIED PUBLIC ACCOUNTANTS

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
OF INTERNAL CONTROL STRUCTURE

BOARD OF DIRECTORS
LINCOLN INVESTMENT PLANNING, INC.
WYNCOTE, PENNSYLVANIA

In planning and performing our audit of the financial statements
of The Rightime Fund, Inc. (comprising, respectively, The 
Rightime Fund, The Rightime Blue Chip Fund, The Rightime 
Government Securities Fund, The Rightime MidCap and The
Rightime Social Awareness Fund) for the year ended October
31, 1996, we considered it internal control structure,
including procedures 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, not to provide
assurance on the internal control structure.

The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this 
responsibility, estimates and judgments by management are
required to access the expected benefits and related costs of 
internal control structure policies and procedures. Two of the 
objectives of an internal control structure are to provide 
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or 
disposition, and that transactions are executed in accordance
with management's authorization and recorded properly to 
permit preparation of financial statements in conformity with 
generally accepted accounting principles..

Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also, 
projection of any evaluation of the structure to future periods 
is subject to the 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 internal control structure would not
necessarily disclose all matters in the internal control structure
that might be material  weaknesses under standards 
established by the American Institute of Certified
Public Accountants. A material weakness is a in 
which the design or operation of the specific internal
control structure elements does not reduce to a
relatively low level the risk that errors or 
irregularities 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 internal control structure, including 
procedures for  safeguarding securities, that we 
consider to be material weakness, as
defined above, as of October 31, 1996.

This report is intended solely for the information 
and use of the management and the Securities 
and Exchange Commission, and should be used 
for any other purpose.

Tait, Weller & Baker

Philadelphia, Pennsylvania
December 2, 1996






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