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072 R001000 14
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072 T001000 0
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072 W001000 4
072 X001000 84
072 Y001000 64
072 Z001000 190
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073 A011000 0.2500
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074 A001000 0
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074 C001000 12
074 D001000 8727
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<PAGE>
074 Q001000 0
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074 R041000 63
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074 T001000 8916
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074 V011000 10.13
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075 B001000 7932
076 001000 0.00
028 A011100 947
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028 A041100 10
028 B011100 1986
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028 B041100 56
028 C011100 1551
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028 C031100 0
028 C041100 292
028 D011100 772
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028 D031100 0
028 D041100 33
028 E011100 702
028 E021100 4
028 E031100 0
028 E041100 24
028 F011100 2786
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028 F041100 91
028 G011100 8744
028 G021100 5
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028 G041100 506
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042 A001100 0
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042 E001100 0
<PAGE>
042 F001100 0
042 G001100 0
042 H001100 0
043 001100 0
044 001100 0
045 001100 Y
046 001100 Y
047 001100 Y
048 001100 0.000
048 A011100 50000
048 A021100 0.325
048 B011100 50000
048 B021100 0.250
048 C011100 100000
048 C021100 0.200
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048 D021100 0.000
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048 E021100 0.000
048 F011100 0
048 F021100 0.000
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048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 200000
048 K021100 0.150
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 Y
053 B001100 Y
054 A001100 Y
054 B001100 N
054 C001100 N
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 N
054 H001100 Y
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 N
054 M001100 Y
054 N001100 N
<PAGE>
054 O001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 N
058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
061 001100 1000
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062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
063 A001100 0
063 B001100 0.0
066 A001100 Y
066 E001100 Y
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 Y
<PAGE>
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 N
070 L011100 Y
070 L021100 N
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 14688
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071 C001100 26760
071 D001100 24
072 A001100 6
072 B001100 353
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072 D001100 0
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<PAGE>
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SIGNATURE DANIEL E. SHEA
TITLE ASST. TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE REPUBLIC NEW YORK TAX FREE MONEY MARKET FUND
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI ANNUAL REPORT.
</LEGEND>
<CIK> 0000798290
<NAME> REPUBLIC FUNDS
<SERIES>
<NUMBER> 7
<NAME> REPUBLIC NEW YORK TAX FREE MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 63,491,552
<INVESTMENTS-AT-VALUE> 63,491,552
<RECEIVABLES> 252,085
<ASSETS-OTHER> 530,476
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 64,274,113
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 247,003
<TOTAL-LIABILITIES> 64,027,110
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,027,110
<SHARES-COMMON-STOCK> 64,027,110
<SHARES-COMMON-PRIOR> 52,652,477
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 64,027,110
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,147,747
<OTHER-INCOME> 0
<EXPENSES-NET> 160,662
<NET-INVESTMENT-INCOME> 987,085
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 987,085
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 987,085
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 149,374,185
<NUMBER-OF-SHARES-REDEEMED> 138,816,749
<SHARES-REINVESTED> 817,197
<NET-CHANGE-IN-ASSETS> 11,374,633
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 48,160
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 265,168
<AVERAGE-NET-ASSETS> 64,566,193
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.016
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.016
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE REPUBLIC FIXED INCOME FUND AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI ANNUAL REPORT.
</LEGEND>
<CIK> 0000798290
<NAME> REPUBLIC FUNDS
<SERIES>
<NUMBER> 8
<NAME> REPUBLIC FIXED INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 39,857,116
<INVESTMENTS-AT-VALUE> 39,348,221
<RECEIVABLES> 59,419
<ASSETS-OTHER> 42,280
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,449,920
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 147,155
<TOTAL-LIABILITIES> 147,155
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39,625,691
<SHARES-COMMON-STOCK> 3,778,428
<SHARES-COMMON-PRIOR> 2,384,633
<ACCUMULATED-NII-CURRENT> 37,525
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 148,444
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (508,895)
<NET-ASSETS> 39,302,765
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 997,356
<OTHER-INCOME> 0
<EXPENSES-NET> 22,806
<NET-INVESTMENT-INCOME> 866,476
<REALIZED-GAINS-CURRENT> 175,019
<APPREC-INCREASE-CURRENT> (847,628)
<NET-CHANGE-FROM-OPS> 193,867
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 866,477
<DISTRIBUTIONS-OF-GAINS> 984,386
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,326,605
<NUMBER-OF-SHARES-REDEEMED> 78,556
<SHARES-REINVESTED> 145,746
<NET-CHANGE-IN-ASSETS> 13,174,758
<ACCUMULATED-NII-PRIOR> 37,525
<ACCUMULATED-GAINS-PRIOR> 957,812
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 204,512
<AVERAGE-NET-ASSETS> 31,759,117
<PER-SHARE-NAV-BEGIN> 10.96
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> (0.19)
<PER-SHARE-DIVIDEND> 0.29
<PER-SHARE-DISTRIBUTIONS> 0.37
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.40
<EXPENSE-RATIO> 0.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE REPUBLIC INTERNATIONAL EQUITY FUND AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI ANNUAL REPORT.
</LEGEND>
<CIK> 0000798290
<NAME> REPUBLIC FUNDS
<SERIES>
<NUMBER> 9
<NAME> REPUBLIC INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 73,710,901
<INVESTMENTS-AT-VALUE> 80,513,933
<RECEIVABLES> 43,475
<ASSETS-OTHER> 42,869
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,600,277
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,809
<TOTAL-LIABILITIES> 36,809
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 73,203,495
<SHARES-COMMON-STOCK> 6,789,373
<SHARES-COMMON-PRIOR> 3,171,731
<ACCUMULATED-NII-CURRENT> 65,437
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 491,504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,803,032
<NET-ASSETS> 80,563,468
<DIVIDEND-INCOME> 443,002
<INTEREST-INCOME> 153,416
<OTHER-INCOME> 0
<EXPENSES-NET> 113,497
<NET-INVESTMENT-INCOME> 253,503
<REALIZED-GAINS-CURRENT> 832,585
<APPREC-INCREASE-CURRENT> 5,167,099
<NET-CHANGE-FROM-OPS> 6,253,187
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 552,556
<DISTRIBUTIONS-OF-GAINS> 31,193
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,688,325
<NUMBER-OF-SHARES-REDEEMED> 120,204
<SHARES-REINVESTED> 49,521
<NET-CHANGE-IN-ASSETS> 46,319,439
<ACCUMULATED-NII-PRIOR> 23,782
<ACCUMULATED-GAINS-PRIOR> 30,820
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 360,187
<AVERAGE-NET-ASSETS> 57,209,055
<PER-SHARE-NAV-BEGIN> 10.80
<PER-SHARE-NII> 0.11
<PER-SHARE-GAIN-APPREC> 1.13
<PER-SHARE-DIVIDEND> 0.16
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.87
<EXPENSE-RATIO> 1.21
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE REPUBLIC NEW YORK TAX FREE BOND FUND AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI ANNUAL REPORT.
</LEGEND>
<CIK> 0000798290
<NAME> REPUBLIC FUNDS
<SERIES>
<NUMBER> 10
<NAME> REPUBLIC NEW YORK TAX FREE BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-01-1996
<INVESTMENTS-AT-COST> 8,801,036
<INVESTMENTS-AT-VALUE> 8,738,707
<RECEIVABLES> 216,774
<ASSETS-OTHER> 23,781
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,979,262
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63,514
<TOTAL-LIABILITIES> 63,514
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,899,755
<SHARES-COMMON-STOCK> 880,112
<SHARES-COMMON-PRIOR> 665,278
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 78,322
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (62,329)
<NET-ASSETS> 8,915,748
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 209,912
<OTHER-INCOME> 0
<EXPENSES-NET> 19,711
<NET-INVESTMENT-INCOME> 190,201
<REALIZED-GAINS-CURRENT> 78,975
<APPREC-INCREASE-CURRENT> (248,695)
<NET-CHANGE-FROM-OPS> 20,481
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 190,201
<DISTRIBUTIONS-OF-GAINS> 49,392
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 250,788
<NUMBER-OF-SHARES-REDEEMED> 42,799
<SHARES-REINVESTED> 6,845
<NET-CHANGE-IN-ASSETS> 2,007,694
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 48,739
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,861
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 104,760
<AVERAGE-NET-ASSETS> 7,932,340
<PER-SHARE-NAV-BEGIN> 10.38
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> (0.18)
<PER-SHARE-DIVIDEND> 0.25
<PER-SHARE-DISTRIBUTIONS> 0.07
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.13
<EXPENSE-RATIO> 0.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE REPUBLIC EQUITY FUND AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH SEMI ANNUAL REPORT.
</LEGEND>
<CIK> 0000798290
<NAME> REPUBLIC FUNDS
<SERIES>
<NUMBER> 11
<NAME> REPUBLIC EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 30,509,002
<INVESTMENTS-AT-VALUE> 33,194,459
<RECEIVABLES> 41,103
<ASSETS-OTHER> 23,364
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33,258,926
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,138
<TOTAL-LIABILITIES> 79,138
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,178,246
<SHARES-COMMON-STOCK> 2,896,559
<SHARES-COMMON-PRIOR> 2,157,255
<ACCUMULATED-NII-CURRENT> 14,853
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 301,232
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,685,457
<NET-ASSETS> 33,179,788
<DIVIDEND-INCOME> 353,280
<INTEREST-INCOME> 31,809
<OTHER-INCOME> 0
<EXPENSES-NET> 180,758
<NET-INVESTMENT-INCOME> 204,331
<REALIZED-GAINS-CURRENT> 308,682
<APPREC-INCREASE-CURRENT> 2,531,099
<NET-CHANGE-FROM-OPS> 3,044,112
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 199,755
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 784,472
<NUMBER-OF-SHARES-REDEEMED> 45,594
<SHARES-REINVESTED> 426
<NET-CHANGE-IN-ASSETS> 11,087,388
<ACCUMULATED-NII-PRIOR> 10,277
<ACCUMULATED-GAINS-PRIOR> (7,450)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 45,239
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 243,305
<AVERAGE-NET-ASSETS> 27,992,345
<PER-SHARE-NAV-BEGIN> 10.24
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 1.21
<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.45
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Item 77k. Changes in Registrant's Certifying Accountants
Ernst & Young LLP were previously the principal independent auditors for the
Republic Funds. On January 15, 1996 that firm's appointment as principal
independent auditors was terminated and KPMG Peat Marwick LLP was engaged as
principal independent auditors. The decision to change accountants was
recommended by the board of directors.
In connection with the audits of the fiscal periods ended September 30, 1995 and
October 31, 1995 and the subsequent interim period through January 15, 1996,
there were no disagreements with Ernst & Young LLP on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedures, which disagreements if not resolved to their satisfaction would have
caused them to make reference in connection with their opinion to the subject
matter of the disagreement.
The audit reports of Ernst & Young LLP on the financial statements of the
Republic Funds, for the fiscal periods ended September 30, 1995 and October 31,
1995, did not contain any adverse opinion or disclaimer of opinion, nor were
they qualified or modified as to uncertainty, audit scope, or accounting
principles. A letter from Ernst & Young LLP is attached as Exhibit A.
June 27, 1996
Securities & Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Sub-item 77k of Form N-SAR dated June 27, 1996, of Republic
Portfolios and are in agreement with the statements contained in the three
paragraphs on the page therein. We have no basis to agree or disagree with other
statements of the registrant contained therein.
Very truly yours,
Ernst & Young LLP
