<PAGE> PAGE 1
000 A000000 04/30/97
000 C000000 0000789289
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<PAGE> PAGE 2
008 D02AA01 VA
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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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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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
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<SERIES>
<NUMBER> 09
<NAME> Blanchard Funds
Blanchard Growth and Income Fund
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S> <C>
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<SERIES>
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<NAME> Blanchard Funds
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