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<PAGE> PAGE 33
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066 D001300 N
066 E001300 Y
066 F001300 N
066 G001300 N
067 001300 N
068 A001300 N
068 B001300 N
069 001300 N
070 A011300 Y
070 A021300 Y
070 B011300 N
070 B021300 N
070 C011300 N
070 C021300 N
070 D011300 N
070 D021300 N
<PAGE> PAGE 41
070 E011300 Y
070 E021300 N
070 F011300 Y
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 Y
070 H021300 N
070 I011300 Y
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 N
070 K021300 N
070 L011300 Y
070 L021300 N
070 M011300 Y
070 M021300 N
070 N011300 N
070 N021300 N
070 O011300 N
070 O021300 N
070 P011300 N
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 39399
071 B001300 14598
071 C001300 10072
071 D001300 145
072 A001300 5
072 B001300 42
072 C001300 77
072 D001300 0
072 E001300 0
072 F001300 78
072 G001300 12
072 H001300 0
072 I001300 14
072 J001300 5
072 K001300 0
072 L001300 1
072 M001300 0
072 N001300 7
072 O001300 0
072 P001300 0
072 Q001300 0
072 R001300 0
072 S001300 0
<PAGE> PAGE 42
072 T001300 0
072 U001300 0
072 V001300 0
072 W001300 1
072 X001300 118
072 Y001300 1
072 Z001300 1
072AA001300 2385
072BB001300 0
072CC011300 4288
072CC021300 0
072DD011300 77
072DD021300 0
072EE001300 0
073 A011300 0.0000
073 A021300 0.0000
073 B001300 0.0000
073 C001300 0.0000
074 A001300 0
074 B001300 0
074 C001300 0
074 D001300 0
074 E001300 0
074 F001300 56241
074 G001300 0
074 H001300 0
074 I001300 0
074 J001300 6560
074 K001300 0
074 L001300 57
074 M001300 0
074 N001300 62858
074 O001300 3610
074 P001300 0
074 Q001300 0
074 R011300 0
074 R021300 0
074 R031300 0
074 R041300 12
074 S001300 0
074 T001300 59236
074 U011300 4071
074 U021300 0
074 V011300 14.55
074 V021300 0.00
074 W001300 0.0000
074 X001300 1708
074 Y001300 0
075 A001300 0
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<PAGE> PAGE 43
008 A001401 PILGRIM BAXTER & ASSOCIATES
008 B001401 A
008 C001401 801-48872
008 D011401 WAYNE
008 D021401 PA
008 D031401 19087
008 A001402 NEWBOLD'S ASSET MANAGEMENT
008 B001402 S
008 C001402 801-0000
008 D011402 BRYN MAWR
008 D021402 PA
008 D031402 19010
015 A001401 CORESTATES BANK
015 B001401 C
015 C011401 PHILADELPHIA
015 C021401 PA
015 C031401 19101
015 E011401 X
024 001400 Y
025 A001401 GREENWICH
025 B001401 13-3172275
025 C001401 D
025 D001401 3774
028 A011400 0
028 A021400 0
028 A031400 0
028 A041400 0
028 B011400 4076
028 B021400 0
028 B031400 0
028 B041400 171
028 C011400 7195
028 C021400 0
028 C031400 0
028 C041400 1563
028 D011400 8605
028 D021400 0
028 D031400 0
028 D041400 2668
028 E011400 21776
028 E021400 0
028 E031400 0
028 E041400 4900
028 F011400 29252
028 F021400 0
028 F031400 0
028 F041400 9040
028 G011400 70904
028 G021400 0
028 G031400 0
028 G041400 18342
<PAGE> PAGE 44
028 H001400 0
037 001400 N
038 001400 0
039 001400 N
040 001400 N
045 001400 Y
046 001400 N
047 001400 Y
048 001400 1.000
048 A011400 0
048 A021400 0.000
048 B011400 0
048 B021400 0.000
048 C011400 0
048 C021400 0.000
048 D011400 0
048 D021400 0.000
048 E011400 0
048 E021400 0.000
048 F011400 0
048 F021400 0.000
048 G011400 0
048 G021400 0.000
048 H011400 0
048 H021400 0.000
048 I011400 0
048 I021400 0.000
048 J011400 0
048 J021400 0.000
048 K011400 0
048 K021400 0.000
049 001400 N
050 001400 N
051 001400 N
052 001400 N
053 A001400 Y
053 B001400 Y
053 C001400 N
058 A001400 N
059 001400 Y
060 A001400 Y
060 B001400 Y
061 001400 2500
062 A001400 N
062 B001400 0.0
062 C001400 0.0
062 D001400 0.0
062 E001400 0.0
062 F001400 0.0
062 G001400 0.0
062 H001400 0.0
<PAGE> PAGE 45
062 I001400 0.0
062 J001400 0.0
062 K001400 0.0
062 L001400 0.0
062 M001400 0.0
062 N001400 0.0
062 O001400 0.0
062 P001400 0.0
062 Q001400 0.0
062 R001400 0.0
066 A001400 Y
066 B001400 N
066 C001400 N
066 D001400 N
066 E001400 Y
066 F001400 N
066 G001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
070 A011400 Y
070 A021400 Y
070 B011400 N
070 B021400 N
070 C011400 N
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 Y
070 E021400 N
070 F011400 Y
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 Y
070 H021400 N
070 I011400 Y
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 N
070 K021400 N
070 L011400 Y
070 L021400 N
070 M011400 Y
070 M021400 N
070 N011400 N
070 N021400 N
070 O011400 N
070 O021400 N
<PAGE> PAGE 46
070 P011400 N
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400 65097
071 B001400 19303
071 C001400 19781
071 D001400 98
072 A001400 5
072 B001400 22
072 C001400 37
072 D001400 0
072 E001400 0
072 F001400 35
072 G001400 6
072 H001400 0
072 I001400 12
072 J001400 3
072 K001400 0
072 L001400 2
072 M001400 0
072 N001400 4
072 O001400 0
072 P001400 0
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072 R001400 0
072 S001400 0
072 T001400 0
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072 W001400 1
072 X001400 63
072 Y001400 1
072 Z001400 -4
072AA001400 1136
072BB001400 0
072CC011400 2164
072CC021400 0
072DD011400 37
072DD021400 0
072EE001400 0
073 A011400 0.0000
073 A021400 0.0000
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<PAGE> PAGE 47
074 E001400 0
074 F001400 29919
074 G001400 0
074 H001400 0
074 I001400 0
074 J001400 2292
074 K001400 0
074 L001400 23
074 M001400 0
074 N001400 32234
074 O001400 2449
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074 R041400 16
074 S001400 0
074 T001400 29769
074 U011400 2082
074 U021400 0
074 V011400 14.30
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074 X001400 934
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075 B001400 10062
076 001400 0.00
SIGNATURE DAVID LEE
TITLE PRESIDENT
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<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.55
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
