<PAGE> PAGE 1
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<PAGE> PAGE 2
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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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<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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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
NSAR ITEM 77C
Van Kampen American Capital Utility Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Utility Fund
(the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 7,210,355 Against 103,949
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 4,704,786 Against 165,175
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 7,286,740 Against 59,726
NSAR ITEM 77C
Van Kampen American Capital Balanced Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Balanced
Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 739,720 Against 5,043
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 474,337 Against 9,087
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 771,675 Against 3,069
NSAR ITEM 77C
Van Kampen American Capital Value Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Value Fund
(the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 20,000 Against 0
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 20,000 Against 0
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 20,000 Against 0
NSAR ITEM 77C
Van Kampen American Capital Great American Companies Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Great American
Companies Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 20,000 Against 0
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 20,000 Against 0
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 20,000 Against 0
NSAR ITEM 77C
Van Kampen American Capital Growth Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Growth Fund
(the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 20,000 Against 0
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 20,000 Against 0
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 20,000 Against 0
NSAR ITEM 77C
Van Kampen American Capital Prospector Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Prospector
Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 20,000 Against 0
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 20,000 Against 0
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 20,000 Against 0
NSAR ITEM 77C
Van Kampen American Capital Aggressive Growth Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Aggressive
Growth Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 7,102,283 Against 90,468
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 4,463,540 Against 112,682
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 7,154,754 Against 43,344
<TABLE> <S> <C>
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<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 135270833<F1>
<INVESTMENTS-AT-VALUE> 148358034<F1>
<RECEIVABLES> 913773<F1>
<ASSETS-OTHER> 40598<F1>
<OTHER-ITEMS-ASSETS> 15918<F1>
<TOTAL-ASSETS> 149328323<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1256315<F1>
<TOTAL-LIABILITIES> 1256315<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 49078570
<SHARES-COMMON-STOCK> 3464548
<SHARES-COMMON-PRIOR> 3768641
<ACCUMULATED-NII-CURRENT> (38651)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 2126676<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 13087070<F1>
<NET-ASSETS> 54719777
<DIVIDEND-INCOME> 3810148<F1>
<INTEREST-INCOME> 691341<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1407979)<F1>
<NET-INVESTMENT-INCOME> 3093510<F1>
<REALIZED-GAINS-CURRENT> 5479722<F1>
<APPREC-INCREASE-CURRENT> 1182123<F1>
<NET-CHANGE-FROM-OPS> 9755355<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1285012)
<DISTRIBUTIONS-OF-GAINS> (683737)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 269206
<NUMBER-OF-SHARES-REDEEMED> (682060)
<SHARES-REINVESTED> 108761
<NET-CHANGE-IN-ASSETS> (2934043)
<ACCUMULATED-NII-PRIOR> 17591<F1>
<ACCUMULATED-GAINS-PRIOR> (1490660)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 486764<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1413020<F1>
<AVERAGE-NET-ASSETS> 55223830
<PER-SHARE-NAV-BEGIN> 15.298
<PER-SHARE-NII> .361
<PER-SHARE-GAIN-APPREC> .706
<PER-SHARE-DIVIDEND> (.370)
<PER-SHARE-DISTRIBUTIONS> (.201)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.794
<EXPENSE-RATIO> 1.41
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> VKAC Utility Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 135270833<F1>
<INVESTMENTS-AT-VALUE> 148358034<F1>
<RECEIVABLES> 913773<F1>
<ASSETS-OTHER> 40598<F1>
<OTHER-ITEMS-ASSETS> 15918<F1>
<TOTAL-ASSETS> 149328323<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1256315<F1>
<TOTAL-LIABILITIES> 1256315<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 79414631
<SHARES-COMMON-STOCK> 5594804
<SHARES-COMMON-PRIOR> 6076415
<ACCUMULATED-NII-CURRENT> (38651)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 2126676<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 13087070<F1>
<NET-ASSETS> 88337887
<DIVIDEND-INCOME> 3810148<F1>
<INTEREST-INCOME> 691341<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1407979)<F1>
<NET-INVESTMENT-INCOME> 3093510<F1>
<REALIZED-GAINS-CURRENT> 5479722<F1>
<APPREC-INCREASE-CURRENT> 1182123<F1>
<NET-CHANGE-FROM-OPS> 9755355<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1766502)
<DISTRIBUTIONS-OF-GAINS> (1114278)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 269617
<NUMBER-OF-SHARES-REDEEMED> (908016)
<SHARES-REINVESTED> 156788
<NET-CHANGE-IN-ASSETS> (4605754)
<ACCUMULATED-NII-PRIOR> 17591<F1>
<ACCUMULATED-GAINS-PRIOR> (1490660)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 486764<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1413020<F1>
<AVERAGE-NET-ASSETS> 88824642
<PER-SHARE-NAV-BEGIN> 15.296
<PER-SHARE-NII> .300
<PER-SHARE-GAIN-APPREC> .707
<PER-SHARE-DIVIDEND> (.313)
<PER-SHARE-DISTRIBUTIONS> (.201)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.789
<EXPENSE-RATIO> 2.17
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 013
<NAME> VKAC Utility Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 135270833<F1>
<INVESTMENTS-AT-VALUE> 148358034<F1>
<RECEIVABLES> 913773<F1>
<ASSETS-OTHER> 40598<F1>
<OTHER-ITEMS-ASSETS> 15918<F1>
<TOTAL-ASSETS> 149328323<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1256315<F1>
<TOTAL-LIABILITIES> 1256315<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 4403712
<SHARES-COMMON-STOCK> 317712
<SHARES-COMMON-PRIOR> 324501
<ACCUMULATED-NII-CURRENT> (38651)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 2126676<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 13087070<F1>
<NET-ASSETS> 5014344
<DIVIDEND-INCOME> 3810148<F1>
<INTEREST-INCOME> 691341<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1407979)<F1>
<NET-INVESTMENT-INCOME> 3093510<F1>
<REALIZED-GAINS-CURRENT> 5479722<F1>
<APPREC-INCREASE-CURRENT> 1182123<F1>
<NET-CHANGE-FROM-OPS> 9755355<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (99230)
<DISTRIBUTIONS-OF-GAINS> (63379)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31599
<NUMBER-OF-SHARES-REDEEMED> (45174)
<SHARES-REINVESTED> 6786
<NET-CHANGE-IN-ASSETS> 52816
<ACCUMULATED-NII-PRIOR> 17591<F1>
<ACCUMULATED-GAINS-PRIOR> (1490660)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 486764<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1413020<F1>
<AVERAGE-NET-ASSETS> 4917369
<PER-SHARE-NAV-BEGIN> 15.290
<PER-SHARE-NII> .292
<PER-SHARE-GAIN-APPREC> .715
<PER-SHARE-DIVIDEND> (.313)
<PER-SHARE-DISTRIBUTIONS> (.201)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.783
<EXPENSE-RATIO> 2.17
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> VKAC Balanced Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 18755133<F1>
<INVESTMENTS-AT-VALUE> 19825251<F1>
<RECEIVABLES> 314332<F1>
<ASSETS-OTHER> 39581<F1>
<OTHER-ITEMS-ASSETS> 4966<F1>
<TOTAL-ASSETS> 20184130<F1>
<PAYABLE-FOR-SECURITIES> 147007<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 509895<F1>
<TOTAL-LIABILITIES> 656902<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 7972805
<SHARES-COMMON-STOCK> 529507
<SHARES-COMMON-PRIOR> 405826
<ACCUMULATED-NII-CURRENT> 34404<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 211340<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1070118<F1>
<NET-ASSETS> 8487486
<DIVIDEND-INCOME> 105699<F1>
<INTEREST-INCOME> 285828<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (80851)<F1>
<NET-INVESTMENT-INCOME> 310676<F1>
<REALIZED-GAINS-CURRENT> 301337<F1>
<APPREC-INCREASE-CURRENT> 697717<F1>
<NET-CHANGE-FROM-OPS> 1309730<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (133147)
<DISTRIBUTIONS-OF-GAINS> 476642
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 141729
<NUMBER-OF-SHARES-REDEEMED> (54153)
<SHARES-REINVESTED> 36105
<NET-CHANGE-IN-ASSETS> 1973063
<ACCUMULATED-NII-PRIOR> 7700<F1>
<ACCUMULATED-GAINS-PRIOR> 999594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 61088<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 262912<F1>
<AVERAGE-NET-ASSETS> 7332779
<PER-SHARE-NAV-BEGIN> 16.052
<PER-SHARE-NII> .323
<PER-SHARE-GAIN-APPREC> .901
<PER-SHARE-DIVIDEND> (.300)
<PER-SHARE-DISTRIBUTIONS> (.947)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.029
<EXPENSE-RATIO> .49
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> VKAC Balanced Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 18755133<F1>
<INVESTMENTS-AT-VALUE> 19825251<F1>
<RECEIVABLES> 314332<F1>
<ASSETS-OTHER> 39581<F1>
<OTHER-ITEMS-ASSETS> 4966<F1>
<TOTAL-ASSETS> 20184130<F1>
<PAYABLE-FOR-SECURITIES> 147007<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 509895<F1>
<TOTAL-LIABILITIES> 656902<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 9084452
<SHARES-COMMON-STOCK> 611090
<SHARES-COMMON-PRIOR> 512997
<ACCUMULATED-NII-CURRENT> 34404<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 211340<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1070118<F1>
<NET-ASSETS> 9795585
<DIVIDEND-INCOME> 105699<F1>
<INTEREST-INCOME> 285828<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (80851)<F1>
<NET-INVESTMENT-INCOME> 310676<F1>
<REALIZED-GAINS-CURRENT> 301337<F1>
<APPREC-INCREASE-CURRENT> 697717<F1>
<NET-CHANGE-FROM-OPS> 1309730<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (133689)
<DISTRIBUTIONS-OF-GAINS> (546779)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 108336
<NUMBER-OF-SHARES-REDEEMED> (45956)
<SHARES-REINVESTED> 35713
<NET-CHANGE-IN-ASSETS> 1568539
<ACCUMULATED-NII-PRIOR> 7700<F1>
<ACCUMULATED-GAINS-PRIOR> 999594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 61088<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 262912<F1>
<AVERAGE-NET-ASSETS> 8883494
<PER-SHARE-NAV-BEGIN> 16.037
<PER-SHARE-NII> .264
<PER-SHARE-GAIN-APPREC> .922
<PER-SHARE-DIVIDEND> (.246)
<PER-SHARE-DISTRIBUTIONS> (.947)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.030
<EXPENSE-RATIO> 1.26
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 023
<NAME> VKAC Balanced Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 18755133<F1>
<INVESTMENTS-AT-VALUE> 19825251<F1>
<RECEIVABLES> 314332<F1>
<ASSETS-OTHER> 39581<F1>
<OTHER-ITEMS-ASSETS> 4966<F1>
<TOTAL-ASSETS> 20184130<F1>
<PAYABLE-FOR-SECURITIES> 147007<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 509895<F1>
<TOTAL-LIABILITIES> 656902<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 1154109
<SHARES-COMMON-STOCK> 77618
<SHARES-COMMON-PRIOR> 66511
<ACCUMULATED-NII-CURRENT> 34404<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 211340<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1070118<F1>
<NET-ASSETS> 1244157
<DIVIDEND-INCOME> 105699<F1>
<INTEREST-INCOME> 285828<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (80851)<F1>
<NET-INVESTMENT-INCOME> 310676<F1>
<REALIZED-GAINS-CURRENT> 301337<F1>
<APPREC-INCREASE-CURRENT> 697717<F1>
<NET-CHANGE-FROM-OPS> 1309730<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (17136)
<DISTRIBUTIONS-OF-GAINS> (66170)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14109
<NUMBER-OF-SHARES-REDEEMED> (5233)
<SHARES-REINVESTED> 2231
<NET-CHANGE-IN-ASSETS> 177455
<ACCUMULATED-NII-PRIOR> 7700<F1>
<ACCUMULATED-GAINS-PRIOR> 999594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 61088<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 262912<F1>
<AVERAGE-NET-ASSETS> 1133717
<PER-SHARE-NAV-BEGIN> 16.038
<PER-SHARE-NII> .264
<PER-SHARE-GAIN-APPREC> .920
<PER-SHARE-DIVIDEND> (.246)
<PER-SHARE-DISTRIBUTIONS> (.947)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.029
<EXPENSE-RATIO> 1.29
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 031
<NAME> VKAC Value Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 250893<F1>
<INVESTMENTS-AT-VALUE> 283048<F1>
<RECEIVABLES> 13859<F1>
<ASSETS-OTHER> 32069<F1>
<OTHER-ITEMS-ASSETS> 15333<F1>
<TOTAL-ASSETS> 344309<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 57985<F1>
<TOTAL-LIABILITIES> 57985<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 107074
<SHARES-COMMON-STOCK> 10454
<SHARES-COMMON-PRIOR> 10277
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> (80)<F1>
<ACCUMULATED-NET-GAINS> 17175<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 32155<F1>
<NET-ASSETS> 127566
<DIVIDEND-INCOME> 1593<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1772)<F1>
<NET-INVESTMENT-INCOME> (179)<F1>
<REALIZED-GAINS-CURRENT> 21989<F1>
<APPREC-INCREASE-CURRENT> 11599<F1>
<NET-CHANGE-FROM-OPS> 33409<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (174)
<DISTRIBUTIONS-OF-GAINS> (6330)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 177
<NET-CHANGE-IN-ASSETS> 10317
<ACCUMULATED-NII-PRIOR> 495<F1>
<ACCUMULATED-GAINS-PRIOR> 9524<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1029<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24856<F1>
<AVERAGE-NET-ASSETS> 120328
<PER-SHARE-NAV-BEGIN> 11.409
<PER-SHARE-NII> (.008)
<PER-SHARE-GAIN-APPREC> 1.435
<PER-SHARE-DIVIDEND> (.017)
<PER-SHARE-DISTRIBUTIONS> (.616)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.203
<EXPENSE-RATIO> 1.48
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 032
<NAME> VKAC Value Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 250893<F1>
<INVESTMENTS-AT-VALUE> 283048<F1>
<RECEIVABLES> 13859<F1>
<ASSETS-OTHER> 32069<F1>
<OTHER-ITEMS-ASSETS> 15333<F1>
<TOTAL-ASSETS> 344309<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 57985<F1>
<TOTAL-LIABILITIES> 57985<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65000
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> (80)<F1>
<ACCUMULATED-NET-GAINS> 17175<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 32155<F1>
<NET-ASSETS> 79379
<DIVIDEND-INCOME> 1593<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1772)<F1>
<NET-INVESTMENT-INCOME> (179)<F1>
<REALIZED-GAINS-CURRENT> 21989<F1>
<APPREC-INCREASE-CURRENT> 11599<F1>
<NET-CHANGE-FROM-OPS> 33409<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (111)
<DISTRIBUTIONS-OF-GAINS> (4004)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5216
<ACCUMULATED-NII-PRIOR> 495<F1>
<ACCUMULATED-GAINS-PRIOR> 9524<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1029<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24856<F1>
<AVERAGE-NET-ASSETS> 76108
<PER-SHARE-NAV-BEGIN> 11.410
<PER-SHARE-NII> (.008)
<PER-SHARE-GAIN-APPREC> 1.443
<PER-SHARE-DIVIDEND> (.017)
<PER-SHARE-DISTRIBUTIONS> (.616)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.212
<EXPENSE-RATIO> 1.48
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 033
<NAME> VKAC Value Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 250893<F1>
<INVESTMENTS-AT-VALUE> 283048<F1>
<RECEIVABLES> 13859<F1>
<ASSETS-OTHER> 32069<F1>
<OTHER-ITEMS-ASSETS> 15333<F1>
<TOTAL-ASSETS> 344309<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 57985<F1>
<TOTAL-LIABILITIES> 57985<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65000
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> (80)<F1>
<ACCUMULATED-NET-GAINS> 17175<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 32155<F1>
<NET-ASSETS> 79379
<DIVIDEND-INCOME> 1593<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1772)<F1>
<NET-INVESTMENT-INCOME> (179)<F1>
<REALIZED-GAINS-CURRENT> 21989<F1>
<APPREC-INCREASE-CURRENT> 11599<F1>
<NET-CHANGE-FROM-OPS> 33409<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (111)
<DISTRIBUTIONS-OF-GAINS> (4004)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5216
<ACCUMULATED-NII-PRIOR> 495<F1>
<ACCUMULATED-GAINS-PRIOR> 9524<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1029<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24856<F1>
<AVERAGE-NET-ASSETS> 76108
<PER-SHARE-NAV-BEGIN> 11.410
<PER-SHARE-NII> (.008)
<PER-SHARE-GAIN-APPREC> 1.443
<PER-SHARE-DIVIDEND> (.017)
<PER-SHARE-DISTRIBUTIONS> (.616)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.212
<EXPENSE-RATIO> 1.48
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 041
<NAME> VKAC Great American Companies Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 209036<F1>
<INVESTMENTS-AT-VALUE> 250448<F1>
<RECEIVABLES> 7733<F1>
<ASSETS-OTHER> 32069<F1>
<OTHER-ITEMS-ASSETS> 16276<F1>
<TOTAL-ASSETS> 306526<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 63696<F1>
<TOTAL-LIABILITIES> 63696<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 70000
<SHARES-COMMON-STOCK> 7000
<SHARES-COMMON-PRIOR> 7000
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 1418<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 41412<F1>
<NET-ASSETS> 84990
<DIVIDEND-INCOME> 1507<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1501)<F1>
<NET-INVESTMENT-INCOME> 6<F1>
<REALIZED-GAINS-CURRENT> 8814<F1>
<APPREC-INCREASE-CURRENT> 19937<F1>
<NET-CHANGE-FROM-OPS> 28757<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (133)
<DISTRIBUTIONS-OF-GAINS> (6296)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3636
<ACCUMULATED-NII-PRIOR> 373<F1>
<ACCUMULATED-GAINS-PRIOR> 10594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 841<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24994<F1>
<AVERAGE-NET-ASSETS> 84059
<PER-SHARE-NAV-BEGIN> 11.622
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 1.438
<PER-SHARE-DIVIDEND> (.019)
<PER-SHARE-DISTRIBUTIONS> (.900)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.141
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> VKAC Great American Companies Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 209036<F1>
<INVESTMENTS-AT-VALUE> 250448<F1>
<RECEIVABLES> 7733<F1>
<ASSETS-OTHER> 32069<F1>
<OTHER-ITEMS-ASSETS> 16276<F1>
<TOTAL-ASSETS> 306526<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 63696<F1>
<TOTAL-LIABILITIES> 63696<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65000
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 1418<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 41412<F1>
<NET-ASSETS> 78920
<DIVIDEND-INCOME> 1507<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1501)<F1>
<NET-INVESTMENT-INCOME> 6<F1>
<REALIZED-GAINS-CURRENT> 8814<F1>
<APPREC-INCREASE-CURRENT> 19937<F1>
<NET-CHANGE-FROM-OPS> 28757<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (123)
<DISTRIBUTIONS-OF-GAINS> (5847)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3376
<ACCUMULATED-NII-PRIOR> 373<F1>
<ACCUMULATED-GAINS-PRIOR> 10594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 841<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24994<F1>
<AVERAGE-NET-ASSETS> 78055
<PER-SHARE-NAV-BEGIN> 11.622
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 1.439
<PER-SHARE-DIVIDEND> (.019)
<PER-SHARE-DISTRIBUTIONS> (.900)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.142
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 043
<NAME> VKAC Great American Companies Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 209036<F1>
<INVESTMENTS-AT-VALUE> 250448<F1>
<RECEIVABLES> 7733<F1>
<ASSETS-OTHER> 32069<F1>
<OTHER-ITEMS-ASSETS> 16276<F1>
<TOTAL-ASSETS> 306526<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 63696<F1>
<TOTAL-LIABILITIES> 63696<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65000
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 1418<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 41412<F1>
<NET-ASSETS> 78920
<DIVIDEND-INCOME> 1507<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1501)<F1>
<NET-INVESTMENT-INCOME> 6<F1>
<REALIZED-GAINS-CURRENT> 8814<F1>
<APPREC-INCREASE-CURRENT> 19937<F1>
<NET-CHANGE-FROM-OPS> 28757<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (123)
<DISTRIBUTIONS-OF-GAINS> (5847)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3376
<ACCUMULATED-NII-PRIOR> 373<F1>
<ACCUMULATED-GAINS-PRIOR> 10594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 841<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24994<F1>
<AVERAGE-NET-ASSETS> 78055
<PER-SHARE-NAV-BEGIN> 11.622
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 1.439
<PER-SHARE-DIVIDEND> (.019)
<PER-SHARE-DISTRIBUTIONS> (.900)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.142
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 51
<NAME> VKAC Growth Fund Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1028895<F1>
<INVESTMENTS-AT-VALUE> 1082615<F1>
<RECEIVABLES> 40414<F1>
<ASSETS-OTHER> 38797<F1>
<OTHER-ITEMS-ASSETS> 163480<F1>
<TOTAL-ASSETS> 1325306<F1>
<PAYABLE-FOR-SECURITIES> 109482<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 90505<F1>
<TOTAL-LIABILITIES> 199987<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 1071628
<SHARES-COMMON-STOCK> 68789
<SHARES-COMMON-PRIOR> 10113
<ACCUMULATED-NII-CURRENT> (2234)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 36157<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 53720<F1>
<NET-ASSETS> 1078175
<DIVIDEND-INCOME> 1134<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 3368<F1>
<NET-INVESTMENT-INCOME> (2234)<F1>
<REALIZED-GAINS-CURRENT> 60859<F1>
<APPREC-INCREASE-CURRENT> (4499)<F1>
<NET-CHANGE-FROM-OPS> 54126<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (45210)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 58572
<NUMBER-OF-SHARES-REDEEMED> (28)
<SHARES-REINVESTED> 132
<NET-CHANGE-IN-ASSETS> 939665
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 22484<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1942<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 26639<F1>
<AVERAGE-NET-ASSETS> 363546
<PER-SHARE-NAV-BEGIN> 13.696
<PER-SHARE-NII> (.065)
<PER-SHARE-GAIN-APPREC> 2.702
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.659)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.674
<EXPENSE-RATIO> 1.66
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 52
<NAME> VKAC Growth Fund Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1028895<F1>
<INVESTMENTS-AT-VALUE> 1082615<F1>
<RECEIVABLES> 40414<F1>
<ASSETS-OTHER> 38797<F1>
<OTHER-ITEMS-ASSETS> 163480<F1>
<TOTAL-ASSETS> 1325306<F1>
<PAYABLE-FOR-SECURITIES> 109482<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 90505<F1>
<TOTAL-LIABILITIES> 199987<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> (16950)
<SHARES-COMMON-STOCK> 1506
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> (2234)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 36157<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 53720<F1>
<NET-ASSETS> 23599
<DIVIDEND-INCOME> 1134<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 3368<F1>
<NET-INVESTMENT-INCOME> (2234)<F1>
<REALIZED-GAINS-CURRENT> 60859<F1>
<APPREC-INCREASE-CURRENT> (4499)<F1>
<NET-CHANGE-FROM-OPS> 54126<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (988)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6
<NUMBER-OF-SHARES-REDEEMED> (5000)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (65419)
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 22484<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1942<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 26639<F1>
<AVERAGE-NET-ASSETS> 77285
<PER-SHARE-NAV-BEGIN> 13.695
<PER-SHARE-NII> (.067)
<PER-SHARE-GAIN-APPREC> 2.701
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.659)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.670
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 53
<NAME> VKAC Growth Fund Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1028895<F1>
<INVESTMENTS-AT-VALUE> 1082615<F1>
<RECEIVABLES> 40414<F1>
<ASSETS-OTHER> 38797<F1>
<OTHER-ITEMS-ASSETS> 163480<F1>
<TOTAL-ASSETS> 1325306<F1>
<PAYABLE-FOR-SECURITIES> 109482<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 90505<F1>
<TOTAL-LIABILITIES> 199987<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> (17002)
<SHARES-COMMON-STOCK> 1503
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> (2234)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 36157<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 53720<F1>
<NET-ASSETS> 23545
<DIVIDEND-INCOME> 1134<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 3368<F1>
<NET-INVESTMENT-INCOME> (2234)<F1>
<REALIZED-GAINS-CURRENT> 60859<F1>
<APPREC-INCREASE-CURRENT> (4499)<F1>
<NET-CHANGE-FROM-OPS> 54126<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (988)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3
<NUMBER-OF-SHARES-REDEEMED> (5000)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (65473)
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 22484<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1942<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 26639<F1>
<AVERAGE-NET-ASSETS> 77275
<PER-SHARE-NAV-BEGIN> 13.695
<PER-SHARE-NII> (.067)
<PER-SHARE-GAIN-APPREC> 2.696
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.659)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.665
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 061
<NAME> VKAC Prospector Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 215365<F1>
<INVESTMENTS-AT-VALUE> 248120<F1>
<RECEIVABLES> 3937<F1>
<ASSETS-OTHER> 39679<F1>
<OTHER-ITEMS-ASSETS> 12904<F1>
<TOTAL-ASSETS> 304640<F1>
<PAYABLE-FOR-SECURITIES> 2934<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 62025<F1>
<TOTAL-LIABILITIES> 64959<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 70000
<SHARES-COMMON-STOCK> 7000
<SHARES-COMMON-PRIOR> 83889
<ACCUMULATED-NII-CURRENT> 110<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 6816<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 32755<F1>
<NET-ASSETS> 83889
<DIVIDEND-INCOME> 2415<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1471)<F1>
<NET-INVESTMENT-INCOME> 944<F1>
<REALIZED-GAINS-CURRENT> 15496<F1>
<APPREC-INCREASE-CURRENT> 14833<F1>
<NET-CHANGE-FROM-OPS> 31323<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (612)
<DISTRIBUTIONS-OF-GAINS> (5460)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4989
<ACCUMULATED-NII-PRIOR> 912<F1>
<ACCUMULATED-GAINS-PRIOR> 6920<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 830<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24759<F1>
<AVERAGE-NET-ASSETS> 82341
<PER-SHARE-NAV-BEGIN> 11.285
<PER-SHARE-NII> .047
<PER-SHARE-GAIN-APPREC> 1.519
<PER-SHARE-DIVIDEND> (.087)
<PER-SHARE-DISTRIBUTIONS> (.78)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.984
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 062
<NAME> VKAC Prospector Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 215365<F1>
<INVESTMENTS-AT-VALUE> 248120<F1>
<RECEIVABLES> 3937<F1>
<ASSETS-OTHER> 39679<F1>
<OTHER-ITEMS-ASSETS> 12904<F1>
<TOTAL-ASSETS> 304640<F1>
<PAYABLE-FOR-SECURITIES> 2934<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 62025<F1>
<TOTAL-LIABILITIES> 64959<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65000
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 77896
<ACCUMULATED-NII-CURRENT> 110<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 6816<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 32755<F1>
<NET-ASSETS> 77896
<DIVIDEND-INCOME> 2415<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1471)<F1>
<NET-INVESTMENT-INCOME> 944<F1>
<REALIZED-GAINS-CURRENT> 15496<F1>
<APPREC-INCREASE-CURRENT> 14833<F1>
<NET-CHANGE-FROM-OPS> 31323<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (567)
<DISTRIBUTIONS-OF-GAINS> (5070)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4494
<ACCUMULATED-NII-PRIOR> 912<F1>
<ACCUMULATED-GAINS-PRIOR> 6920<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 830<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24759<F1>
<AVERAGE-NET-ASSETS> 76526
<PER-SHARE-NAV-BEGIN> 11.285
<PER-SHARE-NII> .047
<PER-SHARE-GAIN-APPREC> 1.519
<PER-SHARE-DIVIDEND> (.087)
<PER-SHARE-DISTRIBUTIONS> (.78)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.984
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 063
<NAME> VKAC Prospector Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 215365<F1>
<INVESTMENTS-AT-VALUE> 248120<F1>
<RECEIVABLES> 3937<F1>
<ASSETS-OTHER> 39679<F1>
<OTHER-ITEMS-ASSETS> 12904<F1>
<TOTAL-ASSETS> 304640<F1>
<PAYABLE-FOR-SECURITIES> 2934<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 62025<F1>
<TOTAL-LIABILITIES> 64959<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65000
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 77896
<ACCUMULATED-NII-CURRENT> 110<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 6816<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 32755<F1>
<NET-ASSETS> 77896
<DIVIDEND-INCOME> 2415<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1471)<F1>
<NET-INVESTMENT-INCOME> 944<F1>
<REALIZED-GAINS-CURRENT> 15496<F1>
<APPREC-INCREASE-CURRENT> 14833<F1>
<NET-CHANGE-FROM-OPS> 31323<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (567)
<DISTRIBUTIONS-OF-GAINS> (5070)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4494
<ACCUMULATED-NII-PRIOR> 912<F1>
<ACCUMULATED-GAINS-PRIOR> 6920<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 830<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 24759<F1>
<AVERAGE-NET-ASSETS> 76526
<PER-SHARE-NAV-BEGIN> 11.285
<PER-SHARE-NII> .047
<PER-SHARE-GAIN-APPREC> 1.519
<PER-SHARE-DIVIDEND> (.087)
<PER-SHARE-DISTRIBUTIONS> (.78)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.984
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 71
<NAME> VKAC Aggressive Growth - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 147301506<F1>
<INVESTMENTS-AT-VALUE> 167825476<F1>
<RECEIVABLES> 5215747<F1>
<ASSETS-OTHER> 92701<F1>
<OTHER-ITEMS-ASSETS> 1069<F1>
<TOTAL-ASSETS> 173134993<F1>
<PAYABLE-FOR-SECURITIES> 441200<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1381710<F1>
<TOTAL-LIABILITIES> 1822910<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 80049894
<SHARES-COMMON-STOCK> 8508294
<SHARES-COMMON-PRIOR> 3328511
<ACCUMULATED-NII-CURRENT> (624809)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (9613052)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 20523970<F1>
<NET-ASSETS> 85290890
<DIVIDEND-INCOME> 51066<F1>
<INTEREST-INCOME> 240121<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (910871)<F1>
<NET-INVESTMENT-INCOME> (619684)<F1>
<REALIZED-GAINS-CURRENT> (8741622)<F1>
<APPREC-INCREASE-CURRENT> 20475636<F1>
<NET-CHANGE-FROM-OPS> 11114330<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7267610
<NUMBER-OF-SHARES-REDEEMED> (2087827)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 54941350
<ACCUMULATED-NII-PRIOR> (5125)<F1>
<ACCUMULATED-GAINS-PRIOR> (871430)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 425868<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 910871<F1>
<AVERAGE-NET-ASSETS> 57094150
<PER-SHARE-NAV-BEGIN> 9.118
<PER-SHARE-NII> (.034)
<PER-SHARE-GAIN-APPREC> .940
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.024
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 72
<NAME> VKAC Aggressive Growth - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 147301506<F1>
<INVESTMENTS-AT-VALUE> 167825476<F1>
<RECEIVABLES> 5215747<F1>
<ASSETS-OTHER> 92701<F1>
<OTHER-ITEMS-ASSETS> 1069<F1>
<TOTAL-ASSETS> 173134993<F1>
<PAYABLE-FOR-SECURITIES> 441200<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1381710<F1>
<TOTAL-LIABILITIES> 1822910<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 73208376
<SHARES-COMMON-STOCK> 7796216
<SHARES-COMMON-PRIOR> 2800801
<ACCUMULATED-NII-CURRENT> (624809)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (9613052)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 20523970<F1>
<NET-ASSETS> 77813468
<DIVIDEND-INCOME> 51066<F1>
<INTEREST-INCOME> 240121<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (910871)<F1>
<NET-INVESTMENT-INCOME> (619684)<F1>
<REALIZED-GAINS-CURRENT> (8741622)<F1>
<APPREC-INCREASE-CURRENT> 20475636<F1>
<NET-CHANGE-FROM-OPS> 11114330<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5420443
<NUMBER-OF-SHARES-REDEEMED> (425028)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 52293839
<ACCUMULATED-NII-PRIOR> (5125)<F1>
<ACCUMULATED-GAINS-PRIOR> (871430)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 425868<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 910871<F1>
<AVERAGE-NET-ASSETS> 50833656
<PER-SHARE-NAV-BEGIN> 9.112
<PER-SHARE-NII> (.072)
<PER-SHARE-GAIN-APPREC> .941
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.981
<EXPENSE-RATIO> 2.05
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 73
<NAME> VKAC Aggressive Growth - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 147301506<F1>
<INVESTMENTS-AT-VALUE> 167825476<F1>
<RECEIVABLES> 5215747<F1>
<ASSETS-OTHER> 92701<F1>
<OTHER-ITEMS-ASSETS> 1069<F1>
<TOTAL-ASSETS> 173134993<F1>
<PAYABLE-FOR-SECURITIES> 441200<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1381710<F1>
<TOTAL-LIABILITIES> 1822910<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 7767704
<SHARES-COMMON-STOCK> 822310
<SHARES-COMMON-PRIOR> 432385
<ACCUMULATED-NII-CURRENT> (624809)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (9613052)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 20523970<F1>
<NET-ASSETS> 8207725
<DIVIDEND-INCOME> 51066<F1>
<INTEREST-INCOME> 240121<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (910871)<F1>
<NET-INVESTMENT-INCOME> (619684)<F1>
<REALIZED-GAINS-CURRENT> (8741622)<F1>
<APPREC-INCREASE-CURRENT> 20475636<F1>
<NET-CHANGE-FROM-OPS> 11114330<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 507711
<NUMBER-OF-SHARES-REDEEMED> (117786)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4267251
<ACCUMULATED-NII-PRIOR> (5125)<F1>
<ACCUMULATED-GAINS-PRIOR> (871430)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 425868<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 910871<F1>
<AVERAGE-NET-ASSETS> 5604250
<PER-SHARE-NAV-BEGIN> 9.113
<PER-SHARE-NII> (.072)
<PER-SHARE-GAIN-APPREC> .940
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.981
<EXPENSE-RATIO> 2.05
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
