<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 0000796532
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<PAGE> PAGE 2
008 D03AA01 10005
011 A00AA01 INVESTOR SERVICE CENTER, INC.
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<PAGE> PAGE 3
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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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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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SIGNATURE JOSEPH LEUNG
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from Bull & Bear
U.S. and Overseas Fund Annual Report and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> U.S. and Overseas Fund
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from Bull & Bear
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such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Quality Growth Fund
<S> <C>
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<PER-SHARE-NII> (.24)
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<EXPENSE-RATIO> 3.71
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<AVG-DEBT-PER-SHARE> .04
</TABLE>
