<PAGE> PAGE 1
000 B000000 07/31/1999
000 C000000 0000791914
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE GALAXY FUND
001 B000000 811-4636
001 C000000 5086245944
002 A000000 4400 COMPUTER DRIVE
002 B000000 WESTBORO
002 C000000 MA
002 D010000 01581
002 D020000 5108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 29
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
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
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C022700 PRIME RESERVES FUND
<PAGE> PAGE 2
007 C032700 N
007 C012800 28
007 C022800 GOVERNMENT RESERVES FUND
007 C032800 N
007 C012900 29
007 C022900 TAX-EXEMPT RESERVES FUND
007 C032900 N
007 C013000 30
008 A00AA01 FLEET INVESTMENT ADVISORS INC.
008 B00AA01 A
008 C00AA01 801-20312
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02109
010 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
010 B00AA01 84-01761
010 C01AA01 WESTBORO
010 C02AA01 MA
010 C03AA01 01581
010 C04AA01 5108
011 A00AA01 FIRST DATA DISTRIBUTORS, INC.
011 B00AA01 8-00000000
011 C01AA01 WESTBORO
011 C02AA01 MA
011 C03AA01 01581
011 C04AA01 5108
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
012 B00AA01 84-01761
012 C01AA01 WESTBORO
012 C02AA01 MA
012 C03AA01 01581
012 C04AA01 5108
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02116
014 A00AA01 FLEET BROKERAGE SECURITIES, INC.
014 B00AA01 8-00000000
014 A00AA02 FLEET SECURITIES, INC.
014 B00AA02 8-00000000
014 A00AA03 FIS SECURITIES, INC.
014 B00AA03 8-00000000
014 A00AA04 FLEET ASSOCIATES, INC.
014 B00AA04 8-00000000
014 A00AA05 FLEET ENTERPRISES, INC.
014 B00AA05 8-00000000
014 A00AA06 FMG SECURITIES CORP.
014 B00AA06 8-00000000
014 A00AA07 FLEET CLEARING CORP.
014 B00AA07 8-00000000
014 A00AA08 QUICK & REILLY, INC.
<PAGE> PAGE 3
014 B00AA08 8-00000000
015 A00AA01 CHASE MANHATTAN BANK, N.A.
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10036
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 42
019 C00AA00 GALAXYFUND
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 MORGAN STANLEY & CO.
022 B000001 13-2655998
022 C000001 17736981
022 D000001 8035
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002 10825662
022 D000002 190646
022 A000003 LEHMAN BROTHERS
022 B000003 00-0000000
022 C000003 10764082
022 D000003 3630
022 A000004 MORGAN (J.P.) SECURITIES
022 B000004 13-3224016
022 C000004 8489427
022 D000004 0
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000005 13-5674085
022 C000005 3486362
022 D000005 24600
022 A000006 ASSOCIATES CORP. OF NORTH AMERICA
022 B000006 00-0000000
022 C000006 3063045
022 D000006 0
022 A000007 STATE STREET BANK & TRUST
022 B000007 04-1867445
022 C000007 2787973
022 D000007 2000
022 A000008 GENERAL MOTORS
<PAGE> PAGE 4
022 B000008 00-0000000
022 C000008 2482582
022 D000008 0
022 A000009 FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 1290969
022 D000009 0
022 A000010 HSBC SECURITIES
022 B000010 00-0000000
022 C000010 605366
022 D000010 0
023 C000000 64179784
023 D000000 289479
026 A000000 Y
026 B000000 N
026 C000000 N
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 Y
041 00AA00 Y
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 750000
048 A02AA00 0.400
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
<PAGE> PAGE 5
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 750000
048 K02AA00 0.350
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 500
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 K000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 RELIANCE INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00 4025
081 A00AA00 Y
081 B00AA00 9
082 A00AA00 Y
082 B00AA00 11
083 A00AA00 N
<PAGE> PAGE 6
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 Y
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 002700 Y
025 A002701 ASSOCIATES CORP. OF AMERICA
025 B002701 00-0000000
025 C002701 D
025 D002701 149011
025 A002702 GOLDMAN SACHS & CO.
025 B002702 13-5108880
025 C002702 D
025 D002702 145613
025 A002703 GENERAL MOTORS ACCEPTANCE CORP.
025 B002703 00-0000000
025 C002703 D
025 D002703 134657
025 D002704 0
025 D002705 0
025 D002706 0
025 D002707 0
025 D002708 0
028 A012700 1541497
028 A022700 12281
028 A032700 0
028 A042700 1618638
028 B012700 1864557
028 B022700 11784
028 B032700 0
028 B042700 1840864
028 C012700 2316295
028 C022700 13270
028 C032700 0
028 C042700 2225989
028 D012700 1692324
028 D022700 13361
028 D032700 0
028 D042700 1775551
<PAGE> PAGE 7
028 E012700 1738278
028 E022700 12980
028 E032700 0
028 E042700 1567739
028 F012700 1920404
028 F022700 13846
028 F032700 0
028 F042700 1771739
028 G012700 11073355
028 G022700 77522
028 G032700 0
028 G042700 10800520
028 H002700 0
042 A002700 0
042 B002700 0
042 C002700 0
042 D002700 100
042 E002700 0
042 F002700 0
042 G002700 0
042 H002700 0
043 002700 14767
044 002700 0
049 002700 N
050 002700 N
051 002700 N
052 002700 N
053 A002700 N
055 A002700 N
055 B002700 N
056 002700 N
057 002700 N
062 A002700 Y
062 B002700 0.0
062 C002700 8.1
062 D002700 3.4
062 E002700 0.0
062 F002700 9.9
062 G002700 0.0
062 H002700 0.0
062 I002700 50.9
062 J002700 0.0
062 K002700 0.0
062 L002700 27.5
062 M002700 0.0
062 N002700 0.0
062 O002700 0.0
062 P002700 0.0
062 Q002700 0.0
062 R002700 0.2
063 A002700 52
<PAGE> PAGE 8
063 B002700 0.0
064 A002700 Y
064 B002700 N
070 A012700 Y
070 A022700 Y
070 B012700 N
070 B022700 N
070 C012700 Y
070 C022700 N
070 D012700 N
070 D022700 N
070 E012700 Y
070 E022700 N
070 F012700 N
070 F022700 N
070 G012700 Y
070 G022700 N
070 H012700 N
070 H022700 N
070 I012700 N
070 I022700 N
070 J012700 Y
070 J022700 N
070 K012700 Y
070 K022700 Y
070 L012700 Y
070 L022700 Y
070 M012700 Y
070 M022700 N
070 N012700 Y
070 N022700 N
070 O012700 Y
070 O022700 N
070 P012700 Y
070 P022700 N
070 Q012700 N
070 Q022700 N
070 R012700 N
070 R022700 N
071 A002700 0
071 B002700 0
071 C002700 0
071 D002700 0
072 A002700 10
072 B002700 165779
072 C002700 526
072 D002700 0
072 E002700 0
072 F002700 11807
072 G002700 2485
072 H002700 0
<PAGE> PAGE 9
072 I002700 4
072 J002700 50
072 K002700 0
072 L002700 772
072 M002700 64
072 N002700 1199
072 O002700 0
072 P002700 0
072 Q002700 97
072 R002700 23
072 S002700 130
072 T002700 14767
072 U002700 0
072 V002700 0
072 W002700 31
072 X002700 31429
072 Y002700 0
072 Z002700 134876
072AA002700 0
072BB002700 0
072CC012700 0
072CC022700 0
072DD012700 134876
072DD022700 0
072EE002700 0
073 A012700 0.0400
073 A022700 0.0000
073 B002700 0.0000
073 C002700 0.0000
074 A002700 34
074 B002700 145613
074 C002700 4103964
074 D002700 0
074 E002700 0
074 F002700 0
074 G002700 0
074 H002700 0
074 I002700 0
074 J002700 0
074 K002700 0
074 L002700 89771
074 M002700 0
074 N002700 4339382
074 O002700 154
074 P002700 3217
074 Q002700 0
074 R012700 0
074 R022700 0
074 R032700 0
074 R042700 85612
074 S002700 0
<PAGE> PAGE 10
074 T002700 4250399
074 U012700 4250399
074 U022700 0
074 V012700 1.00
074 V022700 0.00
074 W002700 1.0000
074 X002700 1
074 Y002700 0
075 A002700 3832111
075 B002700 0
076 002700 0.00
024 002800 N
025 D002801 0
025 D002802 0
025 D002803 0
025 D002804 0
025 D002805 0
025 D002806 0
025 D002807 0
025 D002808 0
028 A012800 39718
028 A022800 513
028 A032800 0
028 A042800 41118
028 B012800 40192
028 B022800 485
028 B032800 0
028 B042800 48211
028 C012800 47612
028 C022800 509
028 C032800 0
028 C042800 44128
028 D012800 38904
028 D022800 499
028 D032800 0
028 D042800 49783
028 E012800 51513
028 E022800 479
028 E032800 0
028 E042800 35977
028 F012800 47682
028 F022800 1115
028 F032800 0
028 F042800 53597
028 G012800 265621
028 G022800 3600
028 G032800 0
028 G042800 272814
028 H002800 0
042 A002800 0
042 B002800 0
<PAGE> PAGE 11
042 C002800 0
042 D002800 100
042 E002800 0
042 F002800 0
042 G002800 0
042 H002800 0
043 002800 503
044 002800 0
049 002800 N
050 002800 N
051 002800 N
052 002800 N
053 A002800 N
055 A002800 Y
055 B002800 N
056 002800 N
057 002800 N
062 A002800 Y
062 B002800 0.0
062 C002800 85.5
062 D002800 13.7
062 E002800 0.0
062 F002800 0.0
062 G002800 0.0
062 H002800 0.0
062 I002800 0.0
062 J002800 0.0
062 K002800 0.0
062 L002800 -3.0
062 M002800 0.0
062 N002800 0.0
062 O002800 0.0
062 P002800 0.0
062 Q002800 0.0
062 R002800 3.8
063 A002800 57
063 B002800 0.0
064 A002800 Y
064 B002800 N
070 A012800 Y
070 A022800 Y
070 B012800 N
070 B022800 N
070 C012800 Y
070 C022800 N
070 D012800 N
070 D022800 N
070 E012800 Y
070 E022800 N
070 F012800 N
070 F022800 N
<PAGE> PAGE 12
070 G012800 Y
070 G022800 N
070 H012800 N
070 H022800 N
070 I012800 N
070 I022800 N
070 J012800 Y
070 J022800 N
070 K012800 Y
070 K022800 Y
070 L012800 Y
070 L022800 N
070 M012800 Y
070 M022800 N
070 N012800 Y
070 N022800 N
070 O012800 Y
070 O022800 N
070 P012800 Y
070 P022800 N
070 Q012800 N
070 Q022800 N
070 R012800 N
070 R022800 N
071 A002800 0
071 B002800 0
071 C002800 0
071 D002800 0
072 A002800 10
072 B002800 6608
072 C002800 206
072 D002800 0
072 E002800 0
072 F002800 546
072 G002800 103
072 H002800 0
072 I002800 4
072 J002800 12
072 K002800 0
072 L002800 12
072 M002800 5
072 N002800 58
072 O002800 0
072 P002800 0
072 Q002800 29
072 R002800 15
072 S002800 10
072 T002800 546
072 U002800 0
072 V002800 0
072 W002800 8
<PAGE> PAGE 13
072 X002800 1348
072 Y002800 0
072 Z002800 5466
072AA002800 0
072BB002800 0
072CC012800 0
072CC022800 0
072DD012800 5466
072DD022800 0
072EE002800 0
073 A012800 0.0300
073 A022800 0.0000
073 B002800 0.0000
073 C002800 0.0000
074 A002800 41
074 B002800 21496
074 C002800 140123
074 D002800 0
074 E002800 0
074 F002800 0
074 G002800 0
074 H002800 0
074 I002800 0
074 J002800 0
074 K002800 0
074 L002800 2937
074 M002800 0
074 N002800 164597
074 O002800 4997
074 P002800 130
074 Q002800 0
074 R012800 0
074 R022800 0
074 R032800 0
074 R042800 2617
074 S002800 0
074 T002800 156853
074 U012800 156853
074 U022800 0
074 V012800 1.00
074 V022800 0.00
074 W002800 1.0000
074 X002800 1
074 Y002800 0
075 A002800 159429
075 B002800 0
076 002800 0.00
024 002900 Y
025 A002901 GOLDMAN SACHS & CO.
025 B002901 13-5108880
025 C002901 D
<PAGE> PAGE 14
025 D002901 21496
025 D002902 0
025 D002903 0
025 D002904 0
025 D002905 0
025 D002906 0
025 D002907 0
025 D002908 0
028 A012900 36452
028 A022900 202
028 A032900 0
028 A042900 38590
028 B012900 37092
028 B022900 221
028 B032900 0
028 B042900 39948
028 C012900 38658
028 C022900 233
028 C032900 0
028 C042900 55576
028 D012900 33307
028 D022900 252
028 D032900 0
028 D042900 35984
028 E012900 75957
028 E022900 241
028 E032900 0
028 E042900 42352
028 F012900 66673
028 F022900 294
028 F032900 0
028 F042900 50744
028 G012900 288139
028 G022900 1443
028 G032900 0
028 G042900 263194
028 H002900 0
042 A002900 0
042 B002900 0
042 C002900 0
042 D002900 100
042 E002900 0
042 F002900 0
042 G002900 0
042 H002900 0
043 002900 546
044 002900 0
049 002900 N
050 002900 N
051 002900 N
052 002900 N
<PAGE> PAGE 15
053 A002900 N
055 A002900 Y
055 B002900 N
056 002900 N
057 002900 N
062 A002900 Y
062 B002900 0.0
062 C002900 0.0
062 D002900 0.0
062 E002900 96.1
062 F002900 0.0
062 G002900 0.0
062 H002900 0.0
062 I002900 0.0
062 J002900 0.0
062 K002900 0.0
062 L002900 0.5
062 M002900 0.0
062 N002900 0.0
062 O002900 0.0
062 P002900 0.0
062 Q002900 0.0
062 R002900 3.4
063 A002900 45
063 B002900 0.0
064 A002900 Y
064 B002900 N
070 A012900 Y
070 A022900 N
070 B012900 N
070 B022900 N
070 C012900 Y
070 C022900 N
070 D012900 N
070 D022900 N
070 E012900 Y
070 E022900 N
070 F012900 N
070 F022900 N
070 G012900 Y
070 G022900 N
070 H012900 N
070 H022900 N
070 I012900 N
070 I022900 N
070 J012900 Y
070 J022900 N
070 K012900 Y
070 K022900 Y
070 L012900 Y
070 L022900 N
<PAGE> PAGE 16
070 M012900 Y
070 M022900 N
070 N012900 Y
070 N022900 N
070 O012900 Y
070 O022900 N
070 P012900 Y
070 P022900 N
070 Q012900 N
070 Q022900 N
070 R012900 N
070 R022900 N
071 A002900 0
071 B002900 0
071 C002900 0
071 D002900 0
072 A002900 10
072 B002900 3787
072 C002900 93
072 D002900 0
072 E002900 0
072 F002900 503
072 G002900 95
072 H002900 0
072 I002900 4
072 J002900 13
072 K002900 0
072 L002900 11
072 M002900 4
072 N002900 59
072 O002900 0
072 P002900 0
072 Q002900 26
072 R002900 13
072 S002900 12
072 T002900 503
072 U002900 0
072 V002900 0
072 W002900 2
072 X002900 1245
072 Y002900 0
072 Z002900 2635
072AA002900 0
072BB002900 1
072CC012900 0
072CC022900 0
072DD012900 2635
072DD022900 0
072EE002900 0
073 A012900 0.0200
073 A022900 0.0000
<PAGE> PAGE 17
073 B002900 0.0000
073 C002900 0.0000
074 A002900 26
074 B002900 0
074 C002900 176940
074 D002900 0
074 E002900 0
074 F002900 0
074 G002900 0
074 H002900 0
074 I002900 0
074 J002900 0
074 K002900 0
074 L002900 3834
074 M002900 0
074 N002900 180800
074 O002900 0
074 P002900 135
074 Q002900 0
074 R012900 0
074 R022900 0
074 R032900 0
074 R042900 2825
074 S002900 0
074 T002900 177840
074 U012900 177841
074 U022900 0
074 V012900 1.00
074 V022900 0.00
074 W002900 0.9999
074 X002900 1
074 Y002900 0
075 A002900 146998
075 B002900 0
076 002900 0.00
SIGNATURE WILLIAM GREILICH
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 27
<NAME> PRIME RESERVES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JUL-31-1999
<INVESTMENTS-AT-COST> 4,249,576,637
<INVESTMENTS-AT-VALUE> 4,249,576,637
<RECEIVABLES> 89,770,609
<ASSETS-OTHER> 34,471
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,339,381,717
<PAYABLE-FOR-SECURITIES> 153,704
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 88,828,954
<TOTAL-LIABILITIES> 88,982,658
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,250,399
<SHARES-COMMON-STOCK> 4,250,399,059
<SHARES-COMMON-PRIOR> 3,900,041,632
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,250,399,059
<DIVIDEND-INCOME> 526,547
<INTEREST-INCOME> 165,778,694
<OTHER-INCOME> 0
<EXPENSES-NET> 31,429,345
<NET-INVESTMENT-INCOME> 134,875,896
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 134,875,896
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 134,875,896
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21,244,865,186
<NUMBER-OF-SHARES-REDEEMED> 17,121,686,211
<SHARES-REINVESTED> 127,220,074
<NET-CHANGE-IN-ASSETS> 4,250,399,049
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11,806,913
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31,429,345
<AVERAGE-NET-ASSETS> 3,832,110,512
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.96
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 28
<NAME> GOVERNMENT RESERVES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JUL-31-1999
<INVESTMENTS-AT-COST> 161,619,064
<INVESTMENTS-AT-VALUE> 161,619,064
<RECEIVABLES> 2,936,412
<ASSETS-OTHER> 41,375
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 164,596,851
<PAYABLE-FOR-SECURITIES> 4,997,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,746,860
<TOTAL-LIABILITIES> 7,743,860
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 156,853
<SHARES-COMMON-STOCK> 156,852,982
<SHARES-COMMON-PRIOR> 10
<ACCUMULATED-NII-CURRENT> 9
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 156,852,991
<DIVIDEND-INCOME> 205,999
<INTEREST-INCOME> 6,608,120
<OTHER-INCOME> 0
<EXPENSES-NET> 1,348,054
<NET-INVESTMENT-INCOME> 5,466,065
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,466,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,466,056
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 594,673,838
<NUMBER-OF-SHARES-REDEEMED> 443,007,098
<SHARES-REINVESTED> 5,186,232
<NET-CHANGE-IN-ASSETS> 156,852,991
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 546,391
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,348,054
<AVERAGE-NET-ASSETS> 159,428,827
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.99
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 29
<NAME> TAX-EXEMPT RESERVES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JUL-31-1999
<INVESTMENTS-AT-COST> 176,939,560
<INVESTMENTS-AT-VALUE> 176,939,560
<RECEIVABLES> 3,834,045
<ASSETS-OTHER> 26,174
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 180,799,779
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,959,912
<TOTAL-LIABILITIES> 2,959,912
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 177,841
<SHARES-COMMON-STOCK> 177,841,313
<SHARES-COMMON-PRIOR> 10
<ACCUMULATED-NII-CURRENT> 40
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 1,486
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 177,839,867
<DIVIDEND-INCOME> 93,005
<INTEREST-INCOME> 3,786,575
<OTHER-INCOME> 0
<EXPENSES-NET> 1,244,508
<NET-INVESTMENT-INCOME> 2,635,072
<REALIZED-GAINS-CURRENT> (1,486)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,633,586
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,635,032
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 629,913,123
<NUMBER-OF-SHARES-REDEEMED> 454,544,619
<SHARES-REINVESTED> 2,472,799
<NET-CHANGE-IN-ASSETS> 177,839,857
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 503,030
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,244,508
<AVERAGE-NET-ASSETS> 146,997,960
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.99
</TABLE>
