PREMIER VALUE FUND
NSAR-B, 1996-12-30
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<PAGE>      PAGE  1
000 B000000 10/31/96
000 C000000 0000794280
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002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
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012 B000001 85-11312
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 9671
015 A000001 MELLON BANK, NA
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020 A000001 J.P. MORGAN SECURITIES INC.
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020 C000001     89
020 A000002 MORGAN STANLEY & CO. INCORPORATED
020 B000002 13-2655998
020 C000002     72
020 A000003 OPPENHEIMER & CO., INC.
020 B000003 13-2798343
020 C000003     72
020 A000004 SALOMON BROTHERS INC.
020 B000004 13-3082694
020 C000004     68
020 A000005 GERARD KLAUER MATTISON & CO., INC.
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020 B000005 13-3274080
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020 A000006 GOLDMAN, SACHS & CO.
020 B000006 13-5108880
020 C000006     59
020 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
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020 C000007     49
020 A000008 THE CHICAGO CORPORATION
020 B000008 36-2549961
020 C000008     39
020 A000009 MONTGOMERY SECURITIES
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020 C000009     36
020 A000010 UBS SECURITIES INC.
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022 A000006 CS FIRST BOSTON CORPORATION
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080 A000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 B000000 VIGILANT INSURANCE COMPANY
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SIGNATURE   JOSEPH F. TOWER, III
TITLE       ASSISTANT TREASURER



<TABLE> <S> <C>

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<CIK> 0000794280
<NAME> PREMIER VALUE FUND
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   <NUMBER> 1
   <NAME> PREMIER VALUE FUND  A
<MULTIPLIER> 1000
       
<S>                             <C>
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<FISCAL-YEAR-END>                          OCT-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000794280
<NAME> PREMIER VALUE FUND
<SERIES>
   <NUMBER> 2
   <NAME> CLASS B
<MULTIPLIER> 1000
       
<S>                             <C>
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<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               OCT-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000794280
<NAME> PREMIER STRATEGIC INVESTING
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   <NUMBER> 3
   <NAME> CLASS C
<MULTIPLIER> 1000
       
<S>                             <C>
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<PERIOD-END>                               OCT-31-1996
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</TABLE>

<TABLE> <S> <C>

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<NAME> PREMIER STRATEGIC INVESTING
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</TABLE>


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