<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 778536
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 LIFE INVESTMENT TRUST
001 B000000 811-04424
001 C000000 6306846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 10
007 C010100 1
007 C020100 ENTERPRISE PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 DOMESTIC INCOME PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 GOVERNMENT PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 MONEY MARKET PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 ASSET ALLOCATION PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 EMERGING GROWTH PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 GLOBAL EQUITY PORTFOLIO
007 C030700 N
007 C010800 8
007 C020800 MORGAN STANLEY REAL ESTATE PORTFOLIO
007 C030800 N
007 C010900 9
007 C020900 GROWTH AND INCOME PORTFOLIO
007 C030900 N
007 C011000 10
007 C021000 STRATEGIC STOCK PORTFOLIO
<PAGE> PAGE 2
007 C031000 N
011 A00AA01 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B00AA01 8-19903
011 C01AA01 OAKBROOK TERRACE
011 C02AA01 IL
011 C03AA01 60181
012 A00AA01 ACCESS INVESTOR SERVICES, INC.
012 B00AA01 84-01621
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64141
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60601
014 A00AA01 MORGAN STANLEY & CO., INCORPORATED
014 B00AA01 8-0000
014 A00AA02 DEAN WITTER REYNOLDS, INC.
014 B00AA02 8-0000
015 A00AA01 STATE STREET BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 118
019 C00AA00 VANKAMPENA
020 A000001 LEHMAN BROTHERS
020 B000001 13-2518466
020 C000001 234
020 A000002 MERRILL LYNCH
020 B000002 13-5674085
020 C000002 182
020 A000003 MONTGOMERY SECURITIES
020 B000003 94-1701676
020 C000003 156
020 A000004 PAINE WEBBER
020 B000004 13-2638166
020 C000004 122
020 A000005 GOLDMAN SACHS
020 B000005 13-5108880
020 C000005 111
020 A000006 GREENSTREET ADVISORS, INC.
020 B000006 33-0275837
020 C000006 98
020 A000007 ALEX, BROWN & SONS
020 B000007 52-1319768
020 C000007 96
020 A000008 SMITH BARNEY
<PAGE> PAGE 3
020 B000008 13-1912900
020 C000008 92
020 A000009 PRUDENTIAL SECURITIES
020 B000009 22-2347336
020 C000009 89
020 A000010 EVEREN CLEARING CORP.
020 B000010 36-3223831
020 C000010 82
021 000000 2134
022 A000001 BA SECURITIES
022 B000001 95-4035346
022 C000001 1897046
022 D000001 0
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 1583432
022 D000002 2201
022 A000003 DONALDSON LUFKIN JENNRETTE
022 B000003 13-2741729
022 C000003 1193266
022 D000003 23297
022 A000004 SBC WARBURG
022 B000004 13-3498485
022 C000004 1111702
022 D000004 37
022 A000005 PRUDENTIAL SECURITIES
022 B000005 22-2347336
022 C000005 604579
022 D000005 17
022 A000006 STATE STREET BANK & TRUST
022 B000006 04-1867445
022 C000006 394498
022 D000006 0
022 A000007 GREENWICH CAPITAL MARKETS
022 B000007 13-2697091
022 C000007 25695
022 D000007 34500
022 A000008 UBS SECURITIES
022 B000008 13-2932996
022 C000008 21079
022 D000008 27097
022 A000009 SMITH BARNEY
022 B000009 13-1912900
022 C000009 21823
022 D000009 19055
022 A000010 MERRILL LYNCH
022 B000010 13-5674085
022 C000010 30441
022 D000010 9127
023 C000000 7081307
023 D000000 184189
<PAGE> PAGE 4
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 500
077 A000000 Y
077 B000000 Y
<PAGE> PAGE 5
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 N/A
080 C00AA00 65000
081 A00AA00 Y
081 B00AA00 117
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
008 A000101 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000101 A
008 C000101 801-8286
008 D010101 OAKBROOK TERRACE
008 D020101 IL
008 D030101 60181
024 000100 Y
025 A000101 BANK AMERICA CORP.
025 B000101 94-1687665
025 C000101 E
025 D000101 635
025 A000102 BEAR STEARNS
025 B000102 13-3299429
025 C000102 E
025 D000102 584
025 A000103 MERRILL LYNCH
025 B000103 13-5674085
025 C000103 E
025 D000103 772
025 A000104 CHASE MANHATTAN CORP
<PAGE> PAGE 6
025 B000104 13-2633612
025 C000104 E
025 D000104 1095
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 3106
028 A020100 0
028 A030100 0
028 A040100 4379
028 B010100 1214
028 B020100 0
028 B030100 0
028 B040100 2925
028 C010100 1209
028 C020100 0
028 C030100 0
028 C040100 1103
028 D010100 1906
028 D020100 0
028 D030100 0
028 D040100 1437
028 E010100 512
028 E020100 0
028 E030100 0
028 E040100 1737
028 F010100 1101
028 F020100 12916
028 F030100 0
028 F040100 1503
028 G010100 9048
028 G020100 12916
028 G030100 0
028 G040100 13084
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 500000
048 A020100 0.500
048 B010100 500000
048 B020100 0.450
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
<PAGE> PAGE 7
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 1000000
048 K020100 0.400
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 N
053 C000100 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
<PAGE> PAGE 8
070 B010100 Y
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 73834
071 B000100 80759
071 C000100 90182
071 D000100 82
072 A000100 12
072 B000100 132
072 C000100 864
072 D000100 0
072 E000100 0
072 F000100 467
072 G000100 0
072 H000100 0
072 I000100 16
072 J000100 20
072 K000100 0
072 L000100 24
072 M000100 12
<PAGE> PAGE 9
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 20
072 R000100 22
072 S000100 16
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 19
072 X000100 616
072 Y000100 55
072 Z000100 435
072AA000100 13400
072BB000100 0
072CC010100 10261
072CC020100 0
072DD010100 457
072DD020100 0
072EE000100 13669
073 A010100 0.0960
073 A020100 0.0000
073 B000100 2.8850
073 C000100 0.0000
074 A000100 1
074 B000100 525
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 99034
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 128
074 M000100 46
074 N000100 99734
074 O000100 756
074 P000100 45
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 219
074 S000100 0
074 T000100 98714
074 U010100 5452
074 U020100 0
074 V010100 18.11
074 V020100 0.00
<PAGE> PAGE 10
074 W000100 0.0000
074 X000100 6
074 Y000100 0
075 A000100 0
075 B000100 93493
076 000100 0.00
008 A000201 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000201 A
008 C000201 801-8286
008 D010201 OAKBROOK TERRACE
008 D020201 IL
008 D030201 60181
024 000200 Y
025 A000201 DONALDSON LUFKIN & JENNRETTE
025 B000201 13-2741729
025 C000201 D
025 D000201 300
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 659
028 A020200 0
028 A030200 0
028 A040200 294
028 B010200 151
028 B020200 0
028 B030200 0
028 B040200 1294
028 C010200 846
028 C020200 0
028 C030200 0
028 C040200 927
028 D010200 657
028 D020200 0
028 D030200 0
028 D040200 472
028 E010200 66
028 E020200 0
028 E030200 0
028 E040200 133
028 F010200 410
028 F020200 1310
028 F030200 0
028 F040200 290
028 G010200 2789
028 G020200 1310
028 G030200 0
<PAGE> PAGE 11
028 G040200 3410
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 500000
048 A020200 0.500
048 B010200 500000
048 B020200 0.450
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 1000000
048 K020200 0.400
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
053 B000200 N
053 C000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 1.7
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 3.8
062 O000200 0.0
062 P000200 80.2
<PAGE> PAGE 12
062 Q000200 9.2
062 R000200 3.9
063 A000200 0
063 B000200 15.7
064 A000200 N
064 B000200 Y
065 000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 13283
071 B000200 16076
071 C000200 17034
<PAGE> PAGE 13
071 D000200 78
072 A000200 12
072 B000200 1373
072 C000200 63
072 D000200 0
072 E000200 10
072 F000200 87
072 G000200 0
072 H000200 0
072 I000200 16
072 J000200 7
072 K000200 0
072 L000200 19
072 M000200 12
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 9
072 R000200 22
072 S000200 6
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 5
072 X000200 183
072 Y000200 79
072 Z000200 1342
072AA000200 367
072BB000200 0
072CC010200 186
072CC020200 0
072DD010200 1365
072DD020200 0
072EE000200 0
073 A010200 0.7120
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 4
074 B000200 300
074 C000200 0
074 D000200 16024
074 E000200 667
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 14
074 K000200 0
074 L000200 321
074 M000200 44
<PAGE> PAGE 14
074 N000200 17373
074 O000200 0
074 P000200 3
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 171
074 S000200 0
074 T000200 17199
074 U010200 2084276
074 U020200 0
074 V010200 8.25
074 V020200 0.00
074 W000200 0.0000
074 X000200 6
074 Y000200 0
075 A000200 0
075 B000200 17337
076 000200 0.00
008 A000301 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000301 A
008 C000301 801-8286
008 D010301 OAKBROOK TERRACE
008 D020301 IL
008 D030301 60181
024 000300 N
028 A010300 123
028 A020300 276
028 A030300 0
028 A040300 811
028 B010300 273
028 B020300 272
028 B030300 0
028 B040300 1217
028 C010300 359
028 C020300 270
028 C030300 0
028 C040300 1050
028 D010300 142
028 D020300 268
028 D030300 0
028 D040300 733
028 E010300 75
028 E020300 266
028 E030300 0
028 E040300 663
028 F010300 362
028 F020300 265
028 F030300 0
028 F040300 814
<PAGE> PAGE 15
028 G010300 1334
028 G020300 1617
028 G030300 0
028 G040300 5288
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 500000
048 A020300 0.500
048 B010300 500000
048 B020300 0.450
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 1000000
048 K020300 0.400
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 Y
053 B000300 N
053 C000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 1.4
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 44.3
<PAGE> PAGE 16
062 N000300 53.1
062 O000300 0.0
062 P000300 0.0
062 Q000300 3.7
062 R000300 0.0
063 A000300 0
063 B000300 5.8
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 Y
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 Y
071 A000300 61170
<PAGE> PAGE 17
071 B000300 65666
071 C000300 51606
071 D000300 119
072 A000300 12
072 B000300 3805
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 268
072 G000300 0
072 H000300 0
072 I000300 16
072 J000300 19
072 K000300 0
072 L000300 18
072 M000300 14
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 14
072 R000300 22
072 S000300 6
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 17
072 X000300 394
072 Y000300 73
072 Z000300 3484
072AA000300 257
072BB000300 0
072CC010300 1068
072CC020300 0
072DD010300 3344
072DD020300 0
072EE000300 0
073 A010300 0.5430
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 4
074 B000300 715
074 C000300 0
074 D000300 53142
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
<PAGE> PAGE 18
074 L000300 757
074 M000300 46
074 N000300 54664
074 O000300 1955
074 P000300 20
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 131
074 S000300 0
074 T000300 52558
074 U010300 5892
074 U020300 0
074 V010300 8.92
074 V020300 0.00
074 W000300 0.0000
074 X000300 3
074 Y000300 16856
075 A000300 0
075 B000300 53508
076 000300 0.00
008 A000401 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000401 A
008 C000401 801-8286
008 D010401 OAKBROOK TERRACE
008 D020401 IL
008 D030401 60181
024 000400 Y
025 A000401 ASSOCIATES CORP. OF NORTH AMERICA
025 C000401 D
025 D000401 988
025 A000402 GENERAL ELECTRIC CAPITAL CORP.
025 B000402 06-1076552
025 C000402 D
025 D000402 999
025 A000403 FORD MOTOR CREDIT
025 C000403 D
025 D000403 1098
025 A000404 PRUDENTIAL FUNDING CORP
025 C000404 D
025 D000404 998
025 A000405 CHEVRON OIL FINANCE CORP
025 C000405 D
025 D000405 995
025 A000406 TORONTO DOMINION HOLDINGS
025 B000406 13-6066548
025 C000406 D
025 D000406 976
025 A000407 DONALDSON LUFKIN & JENNRETTE
025 B000407 13-2741729
<PAGE> PAGE 19
025 C000407 D
025 D000407 265
025 A000408 AMERICAN EXPRESS CREDIT CORP.
025 B000408 11-1988350
025 C000408 D
025 D000408 994
025 A000409 COMMERICAL CREDIT CORP.
025 B000409 52-0883351
025 C000409 D
025 D000409 998
025 A000410 JOHN DEERE CAPITAL CORP.
025 B000410 36-2386361
025 C000410 D
025 D000410 994
025 A000411 IBM CREDIT CORP.
025 B000411 22-2351962
025 C000411 D
025 D000411 994
025 A000412 MERRILL LYNCH & CO. INC.
025 B000412 13-5674085
025 C000412 D
025 D000412 996
025 D000413 0
025 D000414 0
025 D000415 0
025 D000416 0
028 A010400 1370
028 A020400 96
028 A030400 0
028 A040400 2631
028 B010400 3095
028 B020400 89
028 B030400 0
028 B040400 2418
028 C010400 402
028 C020400 97
028 C030400 0
028 C040400 2321
028 D010400 2085
028 D020400 88
028 D030400 0
028 D040400 2464
028 E010400 813
028 E020400 79
028 E030400 0
028 E040400 845
028 F010400 190
028 F020400 93
028 F030400 0
028 F040400 1372
028 G010400 7955
<PAGE> PAGE 20
028 G020400 542
028 G030400 0
028 G040400 12051
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 500000
048 A020400 0.500
048 B010400 500000
048 B020400 0.450
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 1000000
048 K020400 0.400
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 N
053 C000400 N
062 A000400 Y
062 B000400 0.0
062 C000400 33.1
062 D000400 1.3
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 65.9
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
<PAGE> PAGE 21
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 37
063 B000400 0.0
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 N
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 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 0
071 B000400 0
<PAGE> PAGE 22
071 C000400 0
071 D000400 0
072 A000400 12
072 B000400 1186
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 107
072 G000400 0
072 H000400 0
072 I000400 16
072 J000400 13
072 K000400 0
072 L000400 15
072 M000400 17
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 10
072 R000400 16
072 S000400 6
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 9
072 X000400 209
072 Y000400 81
072 Z000400 1058
072AA000400 0
072BB000400 0
072CC010400 0
072CC020400 0
072DD010400 1058
072DD020400 0
072EE000400 0
073 A010400 0.0490
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 6
074 B000400 265
074 C000400 19543
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 0
<PAGE> PAGE 23
074 M000400 46
074 N000400 19860
074 O000400 0
074 P000400 5
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 114
074 S000400 0
074 T000400 19741
074 U010400 19741
074 U020400 0
074 V010400 1.00
074 V020400 0.00
074 W000400 1.0000
074 X000400 6
074 Y000400 0
075 A000400 21369
075 B000400 0
076 000400 0.00
008 A000501 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000501 A
008 C000501 801-8286
008 D010501 OAKBROOK TERRACE
008 D020501 IL
008 D030501 60181
024 000500 Y
025 A000501 BANK AMERICA CORP.
025 B000501 94-1687665
025 C000501 D
025 D000501 270
025 A000502 BEAR, STEARNS CO. & INC.
025 B000502 13-3299429
025 C000502 D
025 D000502 273
025 A000503 SBC WARBURG
025 B000503 13-3498485
025 C000503 D
025 D000503 5895
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 147
028 A020500 0
028 A030500 0
028 A040500 1242
028 B010500 108
028 B020500 0
<PAGE> PAGE 24
028 B030500 0
028 B040500 1739
028 C010500 428
028 C020500 0
028 C030500 0
028 C040500 465
028 D010500 88
028 D020500 0
028 D030500 0
028 D040500 1466
028 E010500 40
028 E020500 0
028 E030500 0
028 E040500 997
028 F010500 294
028 F020500 7532
028 F030500 0
028 F040500 838
028 G010500 1105
028 G020500 7532
028 G030500 0
028 G040500 6747
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 500000
048 A020500 0.500
048 B010500 500000
048 B020500 0.450
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
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 1000000
048 K020500 0.400
049 000500 N
050 000500 N
<PAGE> PAGE 25
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 N
053 C000500 N
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
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 Y
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
<PAGE> PAGE 26
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 32899
071 B000500 43335
071 C000500 56844
071 D000500 58
072 A000500 12
072 B000500 2016
072 C000500 765
072 D000500 0
072 E000500 0
072 F000500 312
072 G000500 0
072 H000500 0
072 I000500 16
072 J000500 22
072 K000500 0
072 L000500 19
072 M000500 11
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 14
072 R000500 23
072 S000500 8
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 18
072 X000500 443
072 Y000500 69
072 Z000500 2407
<PAGE> PAGE 27
072AA000500 7065
072BB000500 0
072CC010500 2697
072CC020500 0
072DD010500 2436
072DD020500 0
072EE000500 6407
073 A010500 0.5180
073 A020500 0.0000
073 B000500 1.3340
073 C000500 0.0000
074 A000500 1
074 B000500 5895
074 C000500 0
074 D000500 24008
074 E000500 0
074 F000500 32710
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 309
074 K000500 0
074 L000500 540
074 M000500 43
074 N000500 63506
074 O000500 70
074 P000500 19
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 119
074 S000500 0
074 T000500 63298
074 U010500 5314563
074 U020500 0
074 V010500 11.91
074 V020500 0.00
074 W000500 0.0000
074 X000500 3
074 Y000500 0
075 A000500 0
075 B000500 62295
076 000500 0.00
008 A000601 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000601 A
008 C000601 801-8286
008 D010601 OAKBROOK TERRACE
008 D020601 IL
008 D030601 60181
024 000600 Y
<PAGE> PAGE 28
025 A000601 LEHMAN BROTHERS
025 B000601 13-2518466
025 C000601 E
025 D000601 20
025 A000602 SWISS BANK CORP.
025 B000602 31-2639550
025 C000602 D
025 D000602 855
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 826
028 A020600 0
028 A030600 0
028 A040600 74
028 B010600 1267
028 B020600 0
028 B030600 0
028 B040600 251
028 C010600 803
028 C020600 0
028 C030600 0
028 C040600 193
028 D010600 1075
028 D020600 0
028 D030600 0
028 D040600 342
028 E010600 620
028 E020600 0
028 E030600 0
028 E040600 444
028 F010600 773
028 F020600 0
028 F030600 0
028 F040600 96
028 G010600 5364
028 G020600 0
028 G030600 0
028 G040600 1400
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.700
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
<PAGE> PAGE 29
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
066 A000600 Y
066 B000600 Y
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 N
<PAGE> PAGE 30
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 11015
071 B000600 7369
071 C000600 6373
071 D000600 116
072 A000600 12
072 B000600 36
072 C000600 15
072 D000600 0
072 E000600 0
072 F000600 49
<PAGE> PAGE 31
072 G000600 0
072 H000600 0
072 I000600 16
072 J000600 0
072 K000600 0
072 L000600 22
072 M000600 11
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 9
072 R000600 25
072 S000600 5
072 T000600 0
072 U000600 1
072 V000600 0
072 W000600 11
072 X000600 149
072 Y000600 90
072 Z000600 -8
072AA000600 156
072BB000600 0
072CC010600 997
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 0
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 6
074 B000600 855
074 C000600 0
074 D000600 0
074 E000600 0
074 F000600 9667
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 33
074 K000600 0
074 L000600 8
074 M000600 3
074 N000600 10572
074 O000600 25
074 P000600 2
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
<PAGE> PAGE 32
074 R040600 53
074 S000600 0
074 T000600 10492
074 U010600 638
074 U020600 0
074 V010600 16.45
074 V020600 0.00
074 W000600 0.0000
074 X000600 5
074 Y000600 0
075 A000600 0
075 B000600 6975
076 000600 0.00
008 A000701 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000701 A
008 C000701 801-8286
008 D010701 OAKBROOK TERRACE
008 D020701 IL
008 D030701 60181
008 A000702 MORGAN STANLEY ASSET MANAGEMENT, INC.
008 B000702 S
008 C000702 801-6229
008 D010702 NEW YORK
008 D020702 NY
008 D030702 10036
024 000700 Y
025 A000701 NATIONSBANK CORP.
025 B000701 68-0193243
025 C000701 E
025 D000701 24
025 A000702 JP MORGAN
025 B000702 13-3224016
025 C000702 E
025 D000702 34
025 D000703 0
025 D000704 0
025 D000705 0
025 D000706 0
025 D000707 0
025 D000708 0
028 A010700 278
028 A020700 0
028 A030700 0
028 A040700 537
028 B010700 34
028 B020700 0
028 B030700 0
028 B040700 163
028 C010700 37
028 C020700 0
028 C030700 0
<PAGE> PAGE 33
028 C040700 143
028 D010700 46
028 D020700 0
028 D030700 0
028 D040700 68
028 E010700 1
028 E020700 0
028 E030700 0
028 E040700 22
028 F010700 7
028 F020700 320
028 F030700 0
028 F040700 28
028 G010700 403
028 G020700 320
028 G030700 0
028 G040700 961
028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 1.000
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 Y
053 B000700 Y
053 C000700 N
<PAGE> PAGE 34
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 Y
066 D000700 N
066 E000700 N
066 F000700 N
066 G000700 N
067 000700 N
068 A000700 N
068 B000700 Y
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
<PAGE> PAGE 35
070 K010700 N
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 Y
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 Y
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 3947
071 B000700 3875
071 C000700 2938
071 D000700 132
072 A000700 12
072 B000700 8
072 C000700 53
072 D000700 0
072 E000700 0
072 F000700 31
072 G000700 0
072 H000700 0
072 I000700 16
072 J000700 74
072 K000700 0
072 L000700 18
072 M000700 10
072 N000700 0
072 O000700 0
072 P000700 0
072 Q000700 22
072 R000700 25
072 S000700 5
072 T000700 0
072 U000700 1
072 V000700 0
072 W000700 10
072 X000700 212
072 Y000700 175
072 Z000700 24
072AA000700 509
072BB000700 0
072CC010700 0
072CC020700 89
072DD010700 25
<PAGE> PAGE 36
072DD020700 0
072EE000700 561
073 A010700 0.1060
073 A020700 0.0000
073 B000700 2.3540
073 C000700 0.0000
074 A000700 57
074 B000700 0
074 C000700 0
074 D000700 0
074 E000700 21
074 F000700 2880
074 G000700 0
074 H000700 0
074 I000700 23
074 J000700 0
074 K000700 16
074 L000700 5
074 M000700 28
074 N000700 3030
074 O000700 0
074 P000700 3
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 53
074 S000700 0
074 T000700 2974
074 U010700 270
074 U020700 0
074 V010700 11.00
074 V020700 0.00
074 W000700 0.0000
074 X000700 3
074 Y000700 283
075 A000700 0
075 B000700 3129
076 000700 0.00
008 A000801 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000801 A
008 C000801 801-8286
008 D010801 OAKBROOK TERRACE
008 D020801 IL
008 D030801 60181
008 A000802 HINES INTEREST REALTY ADVISORS
008 B000802 S
008 C000802 801-46563
008 D010802 HOUSTON
008 D020802 TX
008 D030802 77056
<PAGE> PAGE 37
024 000800 Y
025 A000801 SWISS BANK CORP.
025 B000801 31-2639550
025 C000801 D
025 D000801 24270
025 D000802 0
025 D000803 0
025 D000804 0
025 D000805 0
025 D000806 0
025 D000807 0
025 D000808 0
028 A010800 14437
028 A020800 0
028 A030800 0
028 A040800 17483
028 B010800 5275
028 B020800 0
028 B030800 0
028 B040800 11642
028 C010800 31095
028 C020800 0
028 C030800 0
028 C040800 11374
028 D010800 37104
028 D020800 0
028 D030800 0
028 D040800 36774
028 E010800 16806
028 E020800 0
028 E030800 0
028 E040800 4181
028 F010800 38839
028 F020800 31923
028 F030800 0
028 F040800 23334
028 G010800 143556
028 G020800 31923
028 G030800 0
028 G040800 104788
028 H000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 1.000
048 A010800 0
048 A020800 0.000
048 B010800 0
048 B020800 0.000
048 C010800 0
048 C020800 0.000
<PAGE> PAGE 38
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
049 000800 N
050 000800 N
051 000800 N
052 000800 N
053 A000800 N
062 A000800 N
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 0.0
066 A000800 Y
066 B000800 N
066 C000800 Y
066 D000800 N
066 E000800 N
066 F000800 N
066 G000800 N
067 000800 N
068 A000800 N
068 B000800 N
<PAGE> PAGE 39
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 Y
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 N
070 K020800 N
070 L010800 Y
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 N
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 472700
071 B000800 378073
071 C000800 213513
071 D000800 177
072 A000800 12
072 B000800 790
072 C000800 9416
072 D000800 0
072 E000800 0
072 F000800 2270
072 G000800 0
072 H000800 0
072 I000800 17
072 J000800 0
<PAGE> PAGE 40
072 K000800 0
072 L000800 45
072 M000800 10
072 N000800 0
072 O000800 0
072 P000800 0
072 Q000800 33
072 R000800 23
072 S000800 13
072 T000800 0
072 U000800 2
072 V000800 0
072 W000800 26
072 X000800 2439
072 Y000800 0
072 Z000800 7767
072AA000800 28792
072BB000800 0
072CC010800 9027
072CC020800 0
072DD010800 7660
072DD020800 0
072EE000800 25295
073 A010800 0.4700
073 A020800 0.0000
073 B000800 1.5490
073 C000800 0.0000
074 A000800 0
074 B000800 24270
074 C000800 0
074 D000800 1818
074 E000800 3297
074 F000800 274088
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 886
074 K000800 0
074 L000800 1907
074 M000800 4
074 N000800 306270
074 O000800 1514
074 P000800 244
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 5105
074 S000800 0
074 T000800 299407
074 U010800 18894
<PAGE> PAGE 41
074 U020800 0
074 V010800 15.85
074 V020800 0.00
074 W000800 0.0000
074 X000800 14
074 Y000800 0
075 A000800 0
075 B000800 227267
076 000800 0.00
008 A000901 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B000901 A
008 C000901 801-8286
008 D010901 OAKBROOK TERRACE
008 D020901 IL
008 D030901 60181
024 000900 Y
025 A000901 BANK AMERICA CORP
025 B000901 94-1687665
025 C000901 E
025 D000901 274
025 A000902 SBC WARBURG
025 B000902 13-3498485
025 C000902 D
025 D000902 880
025 A000903 NATIONS BANK
025 B000903 68-0193243
025 C000903 E
025 D000903 52
025 D000904 0
025 D000905 0
025 D000906 0
025 D000907 0
025 D000908 0
028 A010900 2859
028 A020900 0
028 A030900 0
028 A040900 0
028 B010900 860
028 B020900 0
028 B030900 0
028 B040900 0
028 C010900 621
028 C020900 0
028 C030900 0
028 C040900 2
028 D010900 1041
028 D020900 0
028 D030900 0
028 D040900 0
028 E010900 647
028 E020900 0
<PAGE> PAGE 42
028 E030900 0
028 E040900 0
028 F010900 1306
028 F020900 188
028 F030900 0
028 F040900 2
028 G010900 7334
028 G020900 188
028 G030900 0
028 G040900 4
028 H000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.000
048 A010900 500000
048 A020900 0.600
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 500000
048 K020900 0.550
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 N
053 C000900 Y
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
<PAGE> PAGE 43
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 B000900 N
066 C000900 N
066 D000900 N
066 E000900 Y
066 F000900 N
066 G000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 N
070 M020900 N
070 N010900 Y
<PAGE> PAGE 44
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 14552
071 B000900 4642
071 C000900 4848
071 D000900 96
072 A000900 12
072 B000900 23
072 C000900 77
072 D000900 0
072 E000900 0
072 F000900 31
072 G000900 0
072 H000900 0
072 I000900 0
072 J000900 0
072 K000900 0
072 L000900 10
072 M000900 5
072 N000900 0
072 O000900 0
072 P000900 0
072 Q000900 4
072 R000900 20
072 S000900 3
072 T000900 0
072 U000900 0
072 V000900 0
072 W000900 11
072 X000900 84
072 Y000900 45
072 Z000900 61
072AA000900 105
072BB000900 0
072CC010900 542
072CC020900 0
072DD010900 44
072DD020900 0
072EE000900 151
073 A010900 0.0650
073 A020900 0.0000
073 B000900 0.1630
073 C000900 0.0000
074 A000900 4
<PAGE> PAGE 45
074 B000900 880
074 C000900 0
074 D000900 65
074 E000900 0
074 F000900 10983
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 23
074 K000900 0
074 L000900 13
074 M000900 0
074 N000900 11968
074 O000900 226
074 P000900 4
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 24
074 S000900 0
074 T000900 11714
074 U010900 966
074 U020900 0
074 V010900 12.12
074 V020900 0.00
074 W000900 0.0000
074 X000900 3
074 Y000900 0
075 A000900 0
075 B000900 5145
076 000900 0.00
008 A001001 VAN KAMPEN AMERICAN CAPITAL ASSET MGNT, INC
008 B001001 A
008 C001001 801-8286
008 D011001 OAKBROOK TERRACE
008 D021001 IL
008 D031001 60181
024 001000 Y
025 A001001 DLJ
025 B001001 13-2741729
025 C001001 D
025 D001001 310
025 D001002 0
025 D001003 0
025 D001004 0
025 D001005 0
025 D001006 0
025 D001007 0
025 D001008 0
028 A011000 0
<PAGE> PAGE 46
028 A021000 0
028 A031000 0
028 A041000 0
028 B011000 0
028 B021000 0
028 B031000 0
028 B041000 0
028 C011000 0
028 C021000 0
028 C031000 0
028 C041000 0
028 D011000 0
028 D021000 0
028 D031000 0
028 D041000 0
028 E011000 958
028 E021000 0
028 E031000 0
028 E041000 0
028 F011000 1527
028 F021000 0
028 F031000 0
028 F041000 0
028 G011000 2485
028 G021000 0
028 G031000 0
028 G041000 0
028 H001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.500
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
<PAGE> PAGE 47
048 J021000 0.000
048 K011000 0
048 K021000 0.000
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 Y
053 B001000 Y
053 C001000 N
062 A001000 N
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
063 B001000 0.0
066 A001000 Y
066 B001000 N
066 C001000 Y
066 D001000 N
066 E001000 N
066 F001000 N
066 G001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 Y
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 N
070 E021000 N
<PAGE> PAGE 48
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 N
070 J021000 N
070 K011000 N
070 K021000 N
070 L011000 N
070 L021000 N
070 M011000 Y
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 Y
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 2328
071 B001000 0
071 C001000 1360
071 D001000 171
072 A001000 12
072 B001000 2
072 C001000 6
072 D001000 0
072 E001000 0
072 F001000 1
072 G001000 0
072 H001000 0
072 I001000 0
072 J001000 0
072 K001000 0
072 L001000 0
072 M001000 0
072 N001000 0
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 5
072 S001000 0
072 T001000 0
072 U001000 0
<PAGE> PAGE 49
072 V001000 0
072 W001000 0
072 X001000 6
072 Y001000 5
072 Z001000 7
072AA001000 0
072BB001000 0
072CC011000 7
072CC021000 0
072DD011000 0
072DD021000 0
072EE001000 0
073 A011000 0.0000
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 3
074 B001000 310
074 C001000 0
074 D001000 0
074 E001000 0
074 F001000 2334
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 0
074 K001000 4
074 L001000 32
074 M001000 0
074 N001000 2683
074 O001000 151
074 P001000 0
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 6
074 S001000 0
074 T001000 2526
074 U011000 246576
074 U021000 0
074 V011000 10.25
074 V021000 0.00
074 W001000 0.0000
074 X001000 2
074 Y001000 0
075 A001000 0
075 B001000 1525
076 001000 0.00
SIGNATURE MARY WIERSEMA
TITLE FUND COORDINATOR
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 51
<NAME> LIT ASSET ALLOCATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 54,998,971
<INVESTMENTS-AT-VALUE> 62,612,813
<RECEIVABLES> 848,569
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 44,316
<TOTAL-ASSETS> 63,505,698
<PAYABLE-FOR-SECURITIES> 69,740
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 138,246
<TOTAL-LIABILITIES> 207,986
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 53,888,909
<SHARES-COMMON-STOCK> 5,314,563
<SHARES-COMMON-PRIOR> 5,633,242
<ACCUMULATED-NII-CURRENT> 17,750
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,777,211
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,613,842
<NET-ASSETS> 63,297,712
<DIVIDEND-INCOME> 764,885
<INTEREST-INCOME> 2,015,818
<OTHER-INCOME> 0
<EXPENSES-NET> (373,770)
<NET-INVESTMENT-INCOME> 2,406,933
<REALIZED-GAINS-CURRENT> 7,064,899
<APPREC-INCREASE-CURRENT> 2,697,375
<NET-CHANGE-FROM-OPS> 12,169,207
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,436,414)
<DISTRIBUTIONS-OF-GAINS> (6,406,916)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 223,088
<NUMBER-OF-SHARES-REDEEMED> (1,296,455)
<SHARES-REINVESTED> 754,688
<NET-CHANGE-IN-ASSETS> (651,353)
<ACCUMULATED-NII-PRIOR> 47,231
<ACCUMULATED-GAINS-PRIOR> 1,119,228
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 311,514
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 442,550
<AVERAGE-NET-ASSETS> 62,295,068
<PER-SHARE-NAV-BEGIN> 11.352
<PER-SHARE-NII> 0.513
<PER-SHARE-GAIN-APPREC> 1.897
<PER-SHARE-DIVIDEND> (0.518)
<PER-SHARE-DISTRIBUTIONS> (1.334)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.910
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 21
<NAME> LIT DOMESTIC INCOME
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 16,140,299
<INVESTMENTS-AT-VALUE> 16,990,352
<RECEIVABLES> 334,526
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 47,953
<TOTAL-ASSETS> 17,372,831
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 174,038
<TOTAL-LIABILITIES> 174,038
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 17,644,290
<SHARES-COMMON-STOCK> 2,084,276
<SHARES-COMMON-PRIOR> 2,472,121
<ACCUMULATED-NII-CURRENT> 11,345
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,306,895)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 850,053
<NET-ASSETS> 17,198,793
<DIVIDEND-INCOME> 62,730
<INTEREST-INCOME> 1,373,451
<OTHER-INCOME> 10,295
<EXPENSES-NET> (104,023)
<NET-INVESTMENT-INCOME> 1,342,453
<REALIZED-GAINS-CURRENT> 366,896
<APPREC-INCREASE-CURRENT> 186,254
<NET-CHANGE-FROM-OPS> 1,895,603
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,365,434)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 659,893
<NUMBER-OF-SHARES-REDEEMED> (1,213,036)
<SHARES-REINVESTED> 165,298
<NET-CHANGE-IN-ASSETS> (2,598,504)
<ACCUMULATED-NII-PRIOR> 34,326
<ACCUMULATED-GAINS-PRIOR> (1,673,791)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 86,700
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 182,561
<AVERAGE-NET-ASSETS> 17,337,225
<PER-SHARE-NAV-BEGIN> 8.008
<PER-SHARE-NII> 0.704
<PER-SHARE-GAIN-APPREC> 0.252
<PER-SHARE-DIVIDEND> (0.712)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.252
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 61
<NAME> LIT EMG CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 8,580,771
<INVESTMENTS-AT-VALUE> 10,521,867
<RECEIVABLES> 40,660
<ASSETS-OTHER> 3,411
<OTHER-ITEMS-ASSETS> 5,539
<TOTAL-ASSETS> 10,571,477
<PAYABLE-FOR-SECURITIES> 24,577
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 55,046
<TOTAL-LIABILITIES> 79,623
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,818,482
<SHARES-COMMON-STOCK> 637,815
<SHARES-COMMON-PRIOR> 379,065
<ACCUMULATED-NII-CURRENT> (12,701)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (255,023)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,941,096
<NET-ASSETS> 10,491,854
<DIVIDEND-INCOME> 15,652
<INTEREST-INCOME> 35,862
<OTHER-INCOME> 0
<EXPENSES-NET> (59,289)
<NET-INVESTMENT-INCOME> (7,775)
<REALIZED-GAINS-CURRENT> 156,164
<APPREC-INCREASE-CURRENT> 997,037
<NET-CHANGE-FROM-OPS> 1,145,426
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 559,402
<NUMBER-OF-SHARES-REDEEMED> (300,652)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,313,667
<ACCUMULATED-NII-PRIOR> (4,926)
<ACCUMULATED-GAINS-PRIOR> (411,187)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 48,713
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 148,972
<AVERAGE-NET-ASSETS> 6,975,143
<PER-SHARE-NAV-BEGIN> 13.660
<PER-SHARE-NII> (0.007)
<PER-SHARE-GAIN-APPREC> 2.797
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 16.450
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> LIT ENTP CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 70,240,702
<INVESTMENTS-AT-VALUE> 99,558,737
<RECEIVABLES> 127,579
<ASSETS-OTHER> 46,687
<OTHER-ITEMS-ASSETS> 1,447
<TOTAL-ASSETS> 99,734,450
<PAYABLE-FOR-SECURITIES> 756,452
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 263,922
<TOTAL-LIABILITIES> 1,020,374
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 68,610,247
<SHARES-COMMON-STOCK> 5,452,063
<SHARES-COMMON-PRIOR> 5,214,950
<ACCUMULATED-NII-CURRENT> 37,345
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 748,449
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,318,035
<NET-ASSETS> 98,714,076
<DIVIDEND-INCOME> 864,258
<INTEREST-INCOME> 131,879
<OTHER-INCOME> 0
<EXPENSES-NET> (560,961)
<NET-INVESTMENT-INCOME> 435,176
<REALIZED-GAINS-CURRENT> 13,400,141
<APPREC-INCREASE-CURRENT> 10,261,053
<NET-CHANGE-FROM-OPS> 24,096,370
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (457,271)
<DISTRIBUTIONS-OF-GAINS> (13,668,548)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 869,947
<NUMBER-OF-SHARES-REDEEMED> (1,443,044)
<SHARES-REINVESTED> 810,210
<NET-CHANGE-IN-ASSETS> 13,908,906
<ACCUMULATED-NII-PRIOR> 59,440
<ACCUMULATED-GAINS-PRIOR> 1,016,856
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 467,494
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 616,051
<AVERAGE-NET-ASSETS> 93,493,481
<PER-SHARE-NAV-BEGIN> 16.262
<PER-SHARE-NII> 0.091
<PER-SHARE-GAIN-APPREC> 4.734
<PER-SHARE-DIVIDEND> (0.096)
<PER-SHARE-DISTRIBUTIONS> (2.885)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.106
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 71
<NAME> LIT GLOBAL EQUITY
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,639,989
<INVESTMENTS-AT-VALUE> 2,923,905
<RECEIVABLES> 21,324
<ASSETS-OTHER> 3,405
<OTHER-ITEMS-ASSETS> 81,181
<TOTAL-ASSETS> 3,029,815
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 55,806
<TOTAL-LIABILITIES> 55,806
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,701,945
<SHARES-COMMON-STOCK> 270,266
<SHARES-COMMON-PRIOR> 215,901
<ACCUMULATED-NII-CURRENT> (14,504)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (21,382)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 307,950
<NET-ASSETS> 2,974,009
<DIVIDEND-INCOME> 53,293
<INTEREST-INCOME> 7,646
<OTHER-INCOME> 541
<EXPENSES-NET> (37,547)
<NET-INVESTMENT-INCOME> 23,933
<REALIZED-GAINS-CURRENT> 508,690
<APPREC-INCREASE-CURRENT> (88,784)
<NET-CHANGE-FROM-OPS> 443,839
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,284)
<DISTRIBUTIONS-OF-GAINS> (561,214)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 116,532
<NUMBER-OF-SHARES-REDEEMED> (94,662)
<SHARES-REINVESTED> 32,495
<NET-CHANGE-IN-ASSETS> 456,985
<ACCUMULATED-NII-PRIOR> (9,730)
<ACCUMULATED-GAINS-PRIOR> 27,719
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 31,290
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 212,179
<AVERAGE-NET-ASSETS> 3,128,965
<PER-SHARE-NAV-BEGIN> 11.658
<PER-SHARE-NII> 0.110
<PER-SHARE-GAIN-APPREC> 1.696
<PER-SHARE-DIVIDEND> (0.106)
<PER-SHARE-DISTRIBUTIONS> (2.354)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.004
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 31
<NAME> LIT GOVERNMENT
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 52,437,491
<INVESTMENTS-AT-VALUE> 53,856,663
<RECEIVABLES> 757,417
<ASSETS-OTHER> 46,402
<OTHER-ITEMS-ASSETS> 3,667
<TOTAL-ASSETS> 54,664,149
<PAYABLE-FOR-SECURITIES> 1,954,375
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 151,435
<TOTAL-LIABILITIES> 2,105,810
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,104,562
<SHARES-COMMON-STOCK> 5,892,077
<SHARES-COMMON-PRIOR> 6,606,459
<ACCUMULATED-NII-CURRENT> 105,149
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (10,166,590)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,515,218
<NET-ASSETS> 52,558,339
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,804,789
<OTHER-INCOME> 0
<EXPENSES-NET> (321,046)
<NET-INVESTMENT-INCOME> 3,483,743
<REALIZED-GAINS-CURRENT> 257,350
<APPREC-INCREASE-CURRENT> 1,068,496
<NET-CHANGE-FROM-OPS> 4,809,589
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,344,474)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 302,118
<NUMBER-OF-SHARES-REDEEMED> (1,401,150)
<SHARES-REINVESTED> 384,650
<NET-CHANGE-IN-ASSETS> (4,696,043)
<ACCUMULATED-NII-PRIOR> (11,355)
<ACCUMULATED-GAINS-PRIOR> (13,288,380)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 267,568
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 393,866
<AVERAGE-NET-ASSETS> 53,507,619
<PER-SHARE-NAV-BEGIN> 8.666
<PER-SHARE-NII> 0.566
<PER-SHARE-GAIN-APPREC> 0.231
<PER-SHARE-DIVIDEND> (0.543)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.920
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 91
<NAME> LIT GROWTH & INC
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 11,388,144
<INVESTMENTS-AT-VALUE> 11,927,680
<RECEIVABLES> 36,660
<ASSETS-OTHER> 3,507
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11,967,847
<PAYABLE-FOR-SECURITIES> 225,821
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28,436
<TOTAL-LIABILITIES> 254,257
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,202,241
<SHARES-COMMON-STOCK> 966,202
<SHARES-COMMON-PRIOR> 50,000
<ACCUMULATED-NII-CURRENT> 14,691
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (42,878)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 539,536
<NET-ASSETS> 11,713,590
<DIVIDEND-INCOME> 76,803
<INTEREST-INCOME> 23,134
<OTHER-INCOME> 0
<EXPENSES-NET> (38,590)
<NET-INVESTMENT-INCOME> 61,347
<REALIZED-GAINS-CURRENT> 105,366
<APPREC-INCREASE-CURRENT> 541,506
<NET-CHANGE-FROM-OPS> 708,219
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (44,226)
<DISTRIBUTIONS-OF-GAINS> (151,146)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 901,291
<NUMBER-OF-SHARES-REDEEMED> (1,545)
<SHARES-REINVESTED> 16,456
<NET-CHANGE-IN-ASSETS> 11,215,088
<ACCUMULATED-NII-PRIOR> 553
<ACCUMULATED-GAINS-PRIOR> (81)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,777
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 83,959
<AVERAGE-NET-ASSETS> 5,145,317
<PER-SHARE-NAV-BEGIN> 9.970
<PER-SHARE-NII> 0.072
<PER-SHARE-GAIN-APPREC> 2.309
<PER-SHARE-DIVIDEND> (0.065)
<PER-SHARE-DISTRIBUTIONS> (0.163)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.123
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 41
<NAME> LIT MONEY MARKET
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 19,807,992
<INVESTMENTS-AT-VALUE> 19,807,992
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 51,803
<TOTAL-ASSETS> 19,859,795
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 119,023
<TOTAL-LIABILITIES> 119,023
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,740,568
<SHARES-COMMON-STOCK> 19,740,568
<SHARES-COMMON-PRIOR> 19,565,725
<ACCUMULATED-NII-CURRENT> 204
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 19,740,772
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,185,800
<OTHER-INCOME> 0
<EXPENSES-NET> (128,215)
<NET-INVESTMENT-INCOME> 1,057,585
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1,057,585
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,057,591)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22,688,459
<NUMBER-OF-SHARES-REDEEMED> (23,571,207)
<SHARES-REINVESTED> 1,057,591
<NET-CHANGE-IN-ASSETS> 174,837
<ACCUMULATED-NII-PRIOR> 210
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 106,891
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 209,153
<AVERAGE-NET-ASSETS> 21,369,068
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.049
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.049)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 81
<NAME> LIT REAL ESTATE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 272,399,758
<INVESTMENTS-AT-VALUE> 303,473,022
<RECEIVABLES> 2,793,071
<ASSETS-OTHER> 3,415
<OTHER-ITEMS-ASSETS> 27
<TOTAL-ASSETS> 306,269,535
<PAYABLE-FOR-SECURITIES> 1,513,577
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,348,930
<TOTAL-LIABILITIES> 6,6862,507
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 263,842,945
<SHARES-COMMON-STOCK> 18,894,267
<SHARES-COMMON-PRIOR> 11,328,283
<ACCUMULATED-NII-CURRENT> 435,381
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,055,438
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31,073,264
<NET-ASSETS> 299,407,028
<DIVIDEND-INCOME> 9,416,241
<INTEREST-INCOME> 789,383
<OTHER-INCOME> 0
<EXPENSES-NET> (2,438,676)
<NET-INVESTMENT-INCOME> 7,766,948
<REALIZED-GAINS-CURRENT> 28,792,309
<APPREC-INCREASE-CURRENT> 9,027,199
<NET-CHANGE-FROM-OPS> 45,586,456
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,660,430)
<DISTRIBUTIONS-OF-GAINS> (25,295,317)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17,318,837
<NUMBER-OF-SHARES-REDEEMED> (11,910,147)
<SHARES-REINVESTED> 2,157,294
<NET-CHANGE-IN-ASSETS> 131,923,274
<ACCUMULATED-NII-PRIOR> 328,863
<ACCUMULATED-GAINS-PRIOR> 558,446
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,269,511
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,438,676
<AVERAGE-NET-ASSETS> 227,266,587
<PER-SHARE-NAV-BEGIN> 14.784
<PER-SHARE-NII> 0.464
<PER-SHARE-GAIN-APPREC> 2.617
<PER-SHARE-DIVIDEND> (0.470)
<PER-SHARE-DISTRIBUTIONS> (1.549)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.846
<EXPENSE-RATIO> 1.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 101
<NAME> LIT STRATEGIC STOCK
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,637,597
<INVESTMENTS-AT-VALUE> 2,644,432
<RECEIVABLES> 35,598
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,867
<TOTAL-ASSETS> 2,682,897
<PAYABLE-FOR-SECURITIES> 151,395
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,300
<TOTAL-LIABILITIES> 156,695
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,512,791
<SHARES-COMMON-STOCK> 246,576
<SHARES-COMMON-PRIOR> 20,000
<ACCUMULATED-NII-CURRENT> 6,576
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,835
<NET-ASSETS> 2,526,202
<DIVIDEND-INCOME> 5,805
<INTEREST-INCOME> 2,262
<OTHER-INCOME> 0
<EXPENSES-NET> (1,491)
<NET-INVESTMENT-INCOME> 6,576
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 6,835
<NET-CHANGE-FROM-OPS> 13,411
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 226,576
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,326,202
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,083
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,383
<AVERAGE-NET-ASSETS> 1,524,599
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.027
<PER-SHARE-GAIN-APPREC> 0.218
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.245
<EXPENSE-RATIO> 0.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[PRICE WATERHOUSE LLP LETTERHEAD]
February 6, 1998
To the Shareholders and Board of Trustees of
the Van Kampen American Capital Life Investment Trust
In planning and performing our audit of the financial statements of Asset
Allocation Portfolio, Domestic Income Portfolio, Emerging Growth Portfolio,
Enterprise Portfolio, Global Equity Portfolio, Government Portfolio, Growth
and Income Portfolio, Money Market Portfolio, Morgan Stanley Real Estate
Securities Portfolio and Strategic Stock Portfolio (constituting Van Kampen
American Capital Life Investment Trust, hereafter referred to as the "Trust")
for the year ended December 31, 1997, we considered its internal control,
including control activities 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 internal control.
The management of the Trust is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments
by management are required to assess the expected benefits and related cost of
control activities. Generally, control activities that are relevant to an
audit pertain to the entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity with generally
accepted accounting principles. Those control activities include the
safeguarding of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control 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 internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of any
specific internal control components 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
internal control, including control activities for safeguarding securities,
that we consider to be material weaknesses as defined above as of December 31,
1997.
This report is intended solely for the information and use of management and
the Board of Trustees of the Trust and the Securities and Exchange Commission.
/S/ PRICE WATERHOUSE LLP
- ------------------------
PRICE WATERHOUSE LLP
NSAR ITEM 77C
Van Kampen American Capital LIT Asset Allocation Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Asset
Allocation Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 4,791,660 Against 70,371
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 4,835,594 Against 23,755
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Domestic Income Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Domestic
Income Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 1,977,222 Against 2,654
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 1,971,887 Against 853
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Emerging Growth Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Emerging
Growth Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 294,334 Against 29,104
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 286,532 Against 36,906
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Enterprise Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Enterprise
Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 4,700,829 Against 52,877
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 4,713,366 Against 18,292
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Global Equity Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Global
Equity Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 10,248,503 Against 181,396
Approval of New Subadvisory Agreement in the event of a change
of control of the Adviser.
For 10,268,961 Against 180,517
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 10,329,040 Against 130,413
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Government Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Government
Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 5,840,350 Against 54,815
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 5,822,529 Against 29,091
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Money Market Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Money
Market Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 21,956,258 Against 428,768
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 22,465,075 Against 77,503
<PAGE>
NSAR ITEM 77C
Van Kampen American Capital LIT Morgan Stanley Real Estate Securities Portfolio
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital LIT Morgan
Stanley Real Estate Securities Portfolio (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy, R. Craig
Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 12,141,773 Against 230,547
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP Independent Public Accountants for its Current Fiscal
Year.
For 12,369,793 Against 94,153
NSAR ITEM 77O
VKAC LIT Asset Allocation Portfolio
10f-3 Transactions
<TABLE>
<CAPTION>
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 Liberty Financial Companies Merrill Lynch 1,300 0.052% 07/17/97
2 Raytheon J.P. Morgan 1,000,000 0.033% 08/07/97
3 Steel Dynamics Inc. Salomon Brothers 4,000 0.048% 08/13/97
4 Avis Rent A Car, Inc. Bear Stearns 3,000 0.015% 09/23/97
5 Endesa Merrill Lynch 7,600 0.029% 10/21/97
</TABLE>
<PAGE>
Other Firms participating in Underwriting:
Underwriting for #1
- -------------------
Merrill Lynch, Inc.
Goldman, Sachs & Co.
PaineWebber Inc.
Fox-Pitt, Kelton Inc.
A.G. Edwards & Sons Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Lehman Brothers Inc.
J.P. Morgan Securities Inc.
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
Smith Barney Inc.
Wasserstein Perella Securities, Inc.
Sanford C. Bernstein & Co., Inc.
Dain Bosworth Incorporated
Furman Selz LLC
The Robinson-Humphrey Company, Inc.
M.J. Wjitmann & Co., Inc.
Underwriting for #2
- -------------------
Bear, Stearns & Co., Inc.
Credit Suisse First Boston Corporation
Morgan Stanley & Co., Incorporated
Goldman, Sachs & Co.
Merrill Lynch, Inc.
J.P. Morgan Securities Inc.
Chase Securities Inc.
Lehman Brothers Inc.
Salomon Brothers Inc.
ABN AMRO Chicago Corp.
BancAmerica Securities, Inc.
BT Securities Corp.
CIBC Wood Gundy Securities Corp.
Citicorp Securities, Inc.
Deutsche Morgan Grenfell Inc.
First Chicago Capital Markets, Inc.
<PAGE>
Underwriting for #2 (cont.)
- ---------------------------
SBC Warburg Inc.
Scotia Capital Markets Inc.
UBS Securities LLC
Blaylock & Partners, L.P.
Muriel Siebert & Co. Inc.
Underwriting for #3
- -------------------
Morgan Stanley & Co. Incorporated
PaineWebber Incorporated
Donaldson, Lufkin & Jenrette Securities Corporation
McDonald & Company Securities, Inc.
Salomon Brothers, Inc.
Underwriting for #4
- -------------------
Bear, Stearns & Co., Inc.
Goldman, Sachs & Co.
Lehman Brothers Inc.
Montgomery Securities
Robertson, Stephens & Company LLC
Blaylock & Partners, L.P.
Chase Securities Inc.
ABN AMRO Chicago Corporation
BT Alex, Brown Inc.
Cowen & Company
Credit Suisse First Boston Corporation
Donaldson, Lufkin & Jenrette Securities Corporation
Furman Selz LLC
Lazard Freres & Co. LLC
Merrill Lynch, Inc.
J.P. Morgan Securities, Inc.
Morgan Stanley & Co., Inc.
Salomon Brothers Inc.
Smith Barney Inc.
Arnhold and S. Bleichroeder, Inc.
Gaines, Berland Inc.
McDonald & Company Securities, Inc.
<PAGE>
Underwriting for #4 (cont)
- ---------------------------
Ormes Capital Markets, Inc.
Raymond James & Associates, Inc.
Sturdivant & Co., Inc.
Underwriting for #5
- -------------------
Merrill Lynch, Inc.
Morgan Stanley & Co., Inc.
Bear, Stearns & Co., Inc.
Credit Suisse First Boston Corporation
Goldman, Sachs & Co.
PaineWebber Incorporated
Salomon Brothers Inc.
Santander Investment Securities Inc.
BBV LatInvest Securities Inc.
A.G. Edwards & Sons, Inc.
J.P. Morgan Securities Inc.
Prudential Securities Incorporated
Schroder & Co., Inc.
CIBC Wood Gundy Securities Inc.
Robert W. Baird & Co. Incorporated
EVEREN Securities, Inc.
Janney Montgomery Scott Inc.
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker, Inc.
McDonald & Company Securities, Inc.
Piper Jaffray Inc.
Wheat, First Securities, Inc.
<PAGE>
NSAR ITEM 77O
VKAC LIT Domestic Income Portfolio
10f-3 Transactions
<TABLE>
<CAPTION>
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 United Mexican States Merrill Lynch 500,000 0.050% 01/09/97
2 A.H. Belo Corporation Bear Stearns 500,000 0.067% 06/10/97
3 Republic of South Africa Merrill Lynch 500,000 0.100% 06/18/97
4 Raytheon Bear Stearns 500,000 0.017% 08/07/97
5 Cablevision Systems Merrill Lynch 500,000 0.100% 12/05/97
</TABLE>
<PAGE>
Other Firms participating in Underwriting:
Underwriting for #2
- -------------------
Morgan Stanley & Co., Incorporated
Bear, Stearns & Co., Inc.
Goldman, Sachs & Co.
Merrill Lynch, Inc.
Salomon Brothers Inc.
Underwriting for #3
- -------------------
Merrill Lynch, Inc.
Goldman, Sachs & Co.
J.P. Morgan Securities Inc.
Morgan Stanley & Co., Inc.
Salomon Brothers Inc.
Underwriting for #4
- -------------------
Bear, Stearns & Co., Inc.
Credit Suisse First Boston Corporation
Morgan Stanley & Co., Incorporated
Goldman, Sachs & Co.
Merrill Lynch, Inc.
J.P. Morgan Securities Inc.
Chase Securities Inc.
Lehman Brothers Inc.
Salomon Brothers Inc.
ABN AMRO Chicago Corp.
BancAmerica Securities, Inc.
BT Securities Corp.
CIBC Wood Gundy Securities Corp.
Citicorp Securities, Inc.
Deutsche Morgan Grenfell Inc.
First Chicago Capital Markets, Inc.
SBC Warburg Inc.
Scotia Capital Markets Inc.
UBS Securities LLC
Blaylock & Partners, L.P.
Muriel Siebert & Co. Inc.
<PAGE>
Underwriting for #5
- -------------------
Bear, Stearns & Co., Inc.
Merrill Lynch, Inc.
Morgan Stanley & Co., Inc.
<PAGE>
NSAR ITEM 77O
VKAC LIT Enterprise Portfolio
10f-3 Transactions
<TABLE>
<CAPTION>
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 Corestaff Inc. Robinson Humphrey 19,962 0.333% 08/11/97
</TABLE>
<PAGE>
Other Firms participating in Underwriting:
Underwriting for #1
- -------------------
Morgan Stanley & Co., Inc.
Goldman, Sachs & Co.
Alex, Brown & Sons Inc.
Donaldson, Lufkin & Jenrette Securities Corp.
Montogomery Securities
The Robinson-Humphrey Company, Inc.
Bear, Stearns & Co., Inc.
William Blair & Company, L.L.C.
J.C. Bradford & Co.
Cleary Gull Reiland & McDevitt Inc.
A.G. Edwards & Sons, Inc.
Gerard Klauer Manison & Co., Inc.
Janney Montgomery Scott Inc.
Jefferies & Company, Inc.
Legg Mason Wood Walker, Inc.
Rauscher Pierce Refsnes, Inc.
Sanders Morris Mundy Inc.
Smith Barney Inc.
Stephens Inc.
Unterberg Harris, L.P.
Wasserstein Perella Securities, Inc.
<PAGE>
NSAR ITEM 77O
VKAC LIT Growth and Income Portfolio
10f-3 Transactions
<TABLE>
<CAPTION>
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 Vail Resorts, Inc. Bear Stearns 100 0.001% 02/03/97
2 Provident Companies, Inc. Salomon Brothers 100 0.002% 05/05/97
3 Hartford Life, Inc. Goldman Sachs 100 0.000% 05/21/97
4 Electricidade de Portugal Goldman Sachs 100 0.000% 06/16/97
5 First Union Corporation Wheat, First 400 0.001% 09/18/97
Securities
6 Nextlink Communications, Inc. Salomon Brothers 200 0.002% 09/26/97
7 Rhone-Poulenc UBS Securities 2,029 0.008% 10/23/97
8 Benckiser Merrill Lynch 800 0.012% 11/24/97
</TABLE>
<PAGE>
Other Firms participating in Underwriting:
Underwriting for #1
- -------------------
Bear, Stearns & Co., Inc.
Furman Selz
Goldman, Sachs & Co.
Salomon Brothers Inc.
Schroder Wertheim & Co.
Smith Barney Inc.
Alex, Brown & Sons Incorporated
BT Securities Corporated
Cowen & Company
Dean Witter Reynolds Inc.
Dillon, Read & Co., Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Hambrecht & Quist LLC
Lazard Freres & Co. LLC
Lehman Brothers, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
Wasserstein Perella Securities, Inc.
Allen & Company Incorporated
Blaylock & Partners, L.P.
Brean Murray & Co., Inc.
Dain Bosworth Incorporated
Doft & Co., Inc.
Gerard Klauer Mattison & Co., LLC
Hanifen, Imhoff, Inc.
Janco Partners, Inc.
Jefferies & Company
Josephthal Lyon & Ross Incorporated
Ladenburg, Thalmann & Co. Inc.
Legg Mason Wood Walker, Incorporated
Ormes Capital Markets, Inc.
Piper Jaffray Inc.
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
<PAGE>
Underwriting for #1 (cont)
- --------------------------
Sands Brothers & Co., Ltd.
Sutro & Co. Incorporated
Tucker Anthony Incorporated
Underwriting for #2
- -------------------
Morgan Stanley & Co. Incorporated
Salomon Brothers Inc.
Advest, Inc.
Sanford C. Bernstein & Co., Inc.
J.C. Bradford & Co.
Donaldson, Lufkin, Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Fox-Pitt, Kelton Inc.
Moors & Cabot, Inc.
The Robinson-Humphrey Company, Inc.
Wasserstein Perella Securities, Inc.
Underwriting for #3
- -------------------
Goldman, Sachs & Co.
Dean Witter Reynolds, Inc.
Merrill Lynch & Co.
Morgan Stanley & Co., Incorporated
Smith Barney Inc.
J.C. Bradford & Co.
Credit Suisse First Boston Corporation
A.G. Edwards & Sons, Inc.
Interstate/Johnson Lane Corporation
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker, Incorporated
Piper Jaffray Inc.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Sutro & Co., Incorporated
Wheat, First Securities, Inc.
Lehman Brothers Inc.
Paine Webber Incorporated
<PAGE>
Underwriting for #3 (cont)
- --------------------------
Conning & Company
Advest, Inc.
Sanford C. Bernstein & Co., Inc.
Dain Bosworth Incorporated
Dowling & Partners Securities, LLC
Fox-Pitt, Kelton Inc.
Janney Montgomery Scott Inc.
Neuberger & Berman LLC
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Stephens Inc.
Underwriting for #4
- -------------------
Goldman Sachs & Co.
ABN AMRO Chicago Corporation
Lehman Brothers, Inc.
Merrill Lynch & Co.
A.G. Edwards & Sons, Inc.
Morgan Stanley & Co., Incorporated
Prudential Securities Incorporated
Advest, Inc.
Dain Bosworth Incorporated
Edward D. Jones & Co., L.P.
McDonald & Company Securities, Inc.
Nesbitt Burns Securities Inc.
Stephens Inc.
Stifel, Nicolaus & Company, Incorporated
Sutro & Co. Incorporated
Underwriting for #5
- -------------------
Morgan Stanley & Co. Incorporated
Goldman, Sachs & Co.
Santander Investment Securities Inc.
UBS Securities LLC
Wheat, First Securities, Inc.
Bear, Stearns & Co. Inc.
<PAGE>
Underwriting for #5 (cont)
- --------------------------
Sanford C. Bernstein & Co., Inc.
BT Alex. Brown Incorporated
Credit Suisse First Boston Corporation
A.G. Edwards & Sons, Inc.
Friedman, Billings, Ramsey & Co., Inc.
Interstate/Johnson Lane Corporation
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker, Incorporated
Lehman Brothers Inc.
Merrill Lynch, Incorporated
Montgomery Securities
J.P. Morgan Securities Inc.
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
SBC Warburg Dillon Read Inc.
Scott & Stringfellow, Inc.
Smith Barney Inc.
Underwriting for #6
- -------------------
Salomon Brothers Inc.
Merrill Lynch Incorporated
Bear, Stearns & Co., Inc.
Lazard Freres & Co., LLC
BT Alex Brown Incorporated
Credit Suisse First Boston Corporation
Goldman, Sachs & Co.
Lehman Brothers Inc.
Montgomery Securities
Morgan Stanley & Co., Incorporated
Smith Barney Inc.
TD Securities Inc.
UBS Securities LLC
Dain Bosworth Incorporated
Everen Securities, Inc.
Furman Selz LLC
McDonald & Company Securities, Inc.
<PAGE>
Underwriting for #6 (cont)
- --------------------------
Morgan Keegan, & Company, Inc.
Sutro & Co. Incorporated
Wheat First Butcher Singer
George K. Baum & Company
Hanifen, Imhoff Inc.
Pennsylvania Merchant Group Ltd
Ragen MacKenzie Incorporated
Underwriting for #7
- -------------------
Morgan Stanley Dean Witter
Societe Generale
UBS Securities LLC
Credit Lyonnais Securities Inc.
Underwriting for #8
- -------------------
Morgan Stanley & Co., Inc.
Goldman, Sachs & Co.
Merrill Lynch, Inc.
Bear, Stearns & Co., Inc.
Credit Suisse First Boston Corp.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Furman Selz LLC
J.P. Morgan Securities Inc.
Paine Webber Incorporated
Prudential Securities Inc.
Smith Barney, Inc.
Arnold and S. Bleichroeder, Inc.
Janney Montgomery Scott, Inc.
Edward D. Jones & Co., L.P.
McDonald & Company Securities, Inc.
<PAGE>
