<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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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
KPMG PEAT MARWICK LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-5255
The Board of Trustees and Shareholders of
Van Kampen American Capital Utility Fund:
In planning and performing our audit of the financial statements of Van Kampen
American Capital Utility Fund (the "Fund") for the year ended June 30, 1997, we
considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on the internal
control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed
in accordance with management's authorization and recorded properly to permit
the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
August 11, 1997
KPMG PEAT MARWICK LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-5255
The Board of Trustees and Shareholders of
Van Kampen American Capital Value Fund:
In planning and performing our audit of the financial statements of Van Kampen
American Capital Value Fund (the "Fund") for the year ended June 30, 1997, we
considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on the internal
control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed
in accordance with management's authorization and recorded properly to permit
the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
August 15, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-5255
The Board of Trustees and Shareholders of
Van Kampen American Capital Great American Companies Fund:
In planning and performing our audit of the financial statements of Van Kampen
American Capital Great American Companies Fund (the "Fund") for the year ended
June 30, 1997, we considered its internal control structure, including
procedures for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed
in accordance with management's authorization and recorded properly to permit
the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
August 15, 1997
KPMG PEAT MARWICK LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-5255
The Board of Trustees and Shareholders of
Van Kampen American Capital Growth Fund:
In planning and performing our audit of the financial statements of Van Kampen
American Capital Growth Fund (the "Fund") for the year ended June 30, 1997, we
considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on the internal
control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed
in accordance with management's authorization and recorded properly to permit
the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
August 11, 1997
KPMG PEAT MARWICK LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-5255
The Board of Trustees and Shareholders of
Van Kampen American Capital Prospector Fund:
In planning and performing our audit of the financial statements of Van Kampen
American Capital Prospector Fund (the "Fund") for the year ended June 30, 1997,
we considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on the internal
control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed
in accordance with management's authorization and recorded properly to permit
the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
August 15, 1997
KPMG PEAT MARWICK LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-5255
The Board of Trustees and Shareholders of
Van Kampen American Capital Aggressive Growth Fund:
In planning and performing our audit of the financial statements of Van Kampen
American Capital Aggressive Growth Fund (the "Fund") for the year ended June
30, 1997, we considered its internal control structure, including procedures
for safeguarding securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on the internal
control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed
in accordance with management's authorization and recorded properly to permit
the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
August 11, 1997
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
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP Independent Public Accountants for its Current Fiscal Year.
For 7,286,740 Against 59,726
NSAR ITEM 77C
Van Kampen American Capital Utility Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Utility Fund
(the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(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 5,658,549 Against 80,178
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP Independent Public Accountants for its Current Fiscal Year.
For 5,724,587 Against 36,973
NSAR ITEM 77C
Van Kampen American Capital Great American Companies Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Great American
Companies Fund (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(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 101,565 Against 0
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick LLP
Independent Public Accountants for its Current Fiscal Year.
For 101,565 Against 0
NSAR ITEM 77C
Van Kampen American Capital Growth Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Growth Fund
(the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(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 3,840,787 Against 291,880
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick LLP
Independent Public Accountants for its Current Fiscal Year.
For 4,112,323 Against 37,167
NSAR ITEM 77C
Van Kampen American Capital Prospector Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Prospector Fund
(the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(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 104,019 Against 0
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick LLP
Independent Public Accountants for its Current Fiscal Year.
For 104,019 Against 0
NSAR ITEM 77C
Van Kampen American Capital Value Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Value Fund
(the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(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 13,000 Against 0
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick LLP
Independent Public Accountants for its Current Fiscal Year.
For 13,000 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
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick LLP
Independent Public Accountants for its Current Fiscal Year.
For 7,154,754 Against 43,344
NSAR ITEM 77C
Van Kampen American Capital Aggressive Growth Fund
(a) A Special Meeting of Shareholders was held on May 28, 1997.
(b) The election of Trustees of Van Kampen American Capital Aggressive
Growth Fund (the "Fund") included:
J. Miles Branagan, Richard M. DeMartini, Linda Hutton Heagy,
R. Craig Kennedy, Jack E. Nelson, Jerome L. Robinson, Phillip B. Rooney,
Fernando Sisto and Wayne W. Whalen
(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 11,735,765 Against 119,797
(4) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick LLP
Independent Public Accountants for its Current Fiscal Year.
For 11,822,524 Against 59,863
NSAR ITEM 77O
Van Kampen American Capital Equity Trust
10f-3 Transactions
<TABLE>
<CAPTION>
Amount of shares
Underwriting # Series # Underwriting Purchased From Purchased % of Underwriting Date of Purchase
<S> <C> <C> <C> <C> <C> <C>
1 8 Coldwater Creek Montgomery
Securities 30,000 1.200% 01/28/97
2 8 Vail Resorts,
Inc. Bear Stearns 7,700 0.064% 02/03/97
3 5 Yurie Systems,
Inc. Bear Stearns 5,000 0.125% 02/05/97
4 8 Yurie Systems,
Inc. Wessels 2,000 0.050% 02/05/97
5 8 Yurie Systems,
Inc. First Boston 1,000 0.025% 02/05/97
6 8 Yurie Systems,
Inc. Alex Brown 25,500 0.638% 02/05/97
7 8 Watsco, Inc. Goldman Sachs 25,000 0.833% 02/19/97
8 8 General Cigar Donaldson, Lufkin
& Jenrette 10,000 0.167% 02/28/97
9 7 Nationwide
Financial
Services Inc. First Boston 100 0.000% 03/05/97
10 4 Nationwide
Financial
Services Inc. First Boston 100 0.000% 03/05/97
11 6 Nationwide
Financial
Services Inc. First Boston 100 0.000% 03/05/97
12 8 NeoMagic Corp. Montgomery
Securities 5,000 0.167% 03/13/97
13 8 NeoMagic Corp. Robertson,
Stephens 5,000 0.167% 03/13/97
14 8 NeoMagic Corp. Soundview 800 0.027% 03/13/97
15 8 NeoMagic Corp. Alex Brown 100 0.003% 03/13/97
16 8 NeoMagic Corp. Needham & Co. 400 0.013% 03/13/97
17 8 NeoMagic Corp. Donaldson, Lufkin
& Jenrette 300 0.010% 03/13/97
18 2 AES
Corporation J.P. Morgan 25,000 0.800% 03/25/97
19 7 Provident
Companies, Inc. Salomon Brothers 100 0.002% 05/05/97
20 8 Rambus Inc. Robertson,
Stephens & Co. 500 0.018% 05/13/97
21 8 Rambus Inc. Everen Securities 200 0.007% 05/13/97
22 8 Rambus Inc. Paine Webber 100 0.004% 05/13/97
23 8 Rambus Inc. Soundview Financial 300 0.011% 05/13/97
24 8 Jacor
Communications, Donaldson, Lufkin
Inc. & Jenrette 23,300 0.350% 05/16/97
25 7 Hartford Life,
Inc. Goldman Sachs 100 0.000% 05/21/97
26 6 Hartford Life,
Inc. Goldman Sachs 100 0.000% 05/21/97
27 4 Hartford Life,
Inc. Goldman Sachs 100 0.000% 05/21/97
28 8 Ryanair
Holdings PLC
ADS First Boston 8,500 0.016% 05/29/97
29 8 Ryanair
Holdings PLC
ADS First Boston 1,000 0.002% 05/29/97
30 8 Ryanair
Holdings PLC
ADS Robinson Humphrey 1,500 0.003% 05/29/97
31 4 Polo Ralph
Lauren
Corporation Goldman Sachs 100 0.000% 06/11/97
32 2 Electricidade
de Portugal
ADS Goldman Sachs 55,000 0.067% 06/16/97
33 6 Electricidade
de Portugal
ADS Goldman Sachs 100 0.000% 06/16/97
34 4 Household
International,
Inc. William Blair 100 0.001% 06/19/97
35 8 RWD
Technologies William Blair 24,800 0.827% 06/19/97
36 7 RWD
Technologies William Blair 200 0.007% 06/19/97
37 4 Stewart
Enterprises,
Inc. Bear Stearns 100 0.002% 06/19/97
38 8 Great Plains
Software Goldman Sachs 20,000 0.667% 06/20/97
39 6 ENI S.p.A. ADS First Boston 200 0.001% 06/30/97
</TABLE>
Other Firms participating in Underwriting:
Underwriting for #1
- -------------------
William Blair & Company, L.L.C.
Alex, Brown & Sons Incorporated
Donaldson, Lufkin & Jenrette Securities Corporation
Morgan Stanley & Co. Incorporated
Robertson, Stephens & Company LLC
Dain Bosworth Incorporated
Piper Jaffray Inc.
Raymond James & Associates, Inc.
D.A. Davidson & Co., Inc.
Ragen Mackenzie Incorporated
H.C. Wainwright & Co., Inc.
Underwriting for #2
- -------------------
Goldman Sachs International
Salomon Brothers International Limited
J. Henry Schroder & Co. Limited
Smith Barney Inc.
Credit Lyonnais Securities
Deutsche Morgan Grenfell
Nomura International
SBC Warburg
UBS Limited
Underwriting for #3, 4, 5 & 6
- -----------------------------
Dean Witter Reynolds Inc.
Deutsche Morgan Grenfell Inc.
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Goldman, Sachs & CO.
Hambrecht & Quist LLC
Lehman Brothers Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Robertson, Stephens & Company LLC
Smith Barney Inc.
Advest, Inc.
William Blair & Company, L.L.C.
Cowen & Company
Furman Selz LLC
John G. Kinnard & Company, Incorporated
Needham & Company, Inc.
Soundview Financial Group, Inc.
Van Kasper & Company
Volpe, Welty & Company LLC
Underwriting for #7
- -------------------
Prudential Securities Incorporated
Smith Barney Inc.
Robert W. Baird & Co. Incorporated
Cleary Gull Reiland & McDevitt Inc.
Dean Witter Reynolds Inc.
Equitable Securities Corporation
Gerard Klauer Mattison & Co., Inc.
Edward D. Jones & Co., L.P.
C.L. King & Associates, Inc.
Lazard Freres & Co. LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
NatWest Securities Limited
Wasserstein Perella Securities, Inc.
Underwriting for #8
- -------------------
Smith Barney Inc.
Cowen & Co.
ABN AMRO Chicago Corporation
Bear, Stearns & Co. Inc.
Alex. Brown & Sons Incorporated
Dean Witter Reynolds Inc.
Deutsche Morgan Grenfell Inc.
Dillon, Read & Co. Inc.
A.G. Edwards & Sons, Inc.
Furman Selz LLC
Goldman, Sachs & Co.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
Prudential Securities Incorporated
Salomon Brothers Inc.
Anderson & Strudwick, Inc.
Arnhold and S. Bleichroeder, Inc.
Brean Murray, & Co., Inc.
Chatsworth Securities LLC
Cleary Gull Reiland & McDevitt Inc.
Doft & Co., Inc.
First of Michigan Corporation
Gabelli & Company, Inc.
Gerard Klauer Mattison & Co., LLC
Interstate/Johnson Lane Corporation
Johnston, Lemon & Co. Incorporated
Legg Mason Wood Walker, Incorporated
McDonald & Company Securities, Inc.
Nutmeg Securities Ltd.
Ohio Company
Ormes Capital Markets, Inc.
Parker/Hunter Incorporated
Pennsylvania Merchant Group Ltd.
Pryor, McClendon, Counts & Co., Inc.
Raymond James & Associates, Inc.
Redwine & Company, Inc.
Rickel and Associates, Inc.
Roney & Co., L.L.C.
Ryan, Beck & Co.
Sands Brothers & Co., Ltd.
Van Kasper & Company
H.C. Wainwright & Co., Inc.
Underwriting for #9, 10 & 11
- ----------------------------
Morgan Stanley & Co. Incorporated
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Bear, Stearns & Co. Inc.
Alex. Brown & Sons Incorporated
Dean Witter Reynolds Inc.
Deutsche Morgan Grenfell Inc.
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Goldman, Sachs & Co.
Invemed Associates, Inc.
Lehman Brothers Inc.
J.P. Morgan Securities Inc.
Oppenheimer & Co. Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Salomon Brothers Inc.
Schroder Wertheim & Co. Incorporated
Smith Barney Inc.
Wasserstein Perella Securities, Inc.
Conning & Company
Advest, Inc.
M.R. Beal & Company
Sanford C. Bernstein & Co., Inc.
Blaylock & Partners, L.P.
Dain Bosworth Incorporated
Doley Securities, Inc.
Dowling & Partners Securities, LLC
Everen Securities, Inc.
Fox-Pitt, Kelton Inc.
Furman Selz LLC
Janney Montgomery Scott Inc.
Ladenburg, Thalmann & Co. Inc.
WR Lazard, Laidlaw Inc.
McDonald & Company Securities, Inc.
Neuberger & Berman LLC
The Ohio Company
Ormes Capital Markets, Inc.
Paulsen Securities
Ragen MacKenzie Incorporated
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Sands Brothers & Co., Ltd.
Stephens Inc.
Trilon International Inc.
Utendahl Capital Partners, L.P.
Underwriting for #12, 13, 14, 15, 16, 17
- ----------------------------------------
Morgan Stanley & Co. Incorporated
Cowen & Company
Dean Witter Reynolds Inc.
Hambrecht & Quist LLC
Underwriting for #18
- --------------------
Donaldson, Lufkin & Jenrette Securities
Goldman, Sachs & Co.
Morgan Stanley & Co. Incorporated
Salomon Brothers Inc.
Unterberg Harris
Deutsche Morgan Grenfell Inc.
Dresdner Kleinwort Benson North America LLC
Lehman Brothers Inc.
Scott & Stringfellow, Inc.
UBS Securities LLC
Burnham Securities Inc.
First Analysis Securities Corporation
Underwriting for #19
- --------------------
Morgan Stanley & Co. Incorporated
Advest, Inc.
Sanford C. Bernstein & Co., Inc.
J.C. Bradford & Co.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Fox-Pitt, Kelton Inc.
Moors & Cabot, Inc.
The Robinson-Humphrey Company, Inc.
Wasserstein Perella Securities, Inc.
Morgan Stanley & Co. International Limited
Underwriting for #20, 21, 22 & 23
- ---------------------------------
Morgan Stanley & Co. Incorporated
Hambrecht & Quist LLC
Alex. Brown & Sons Incorporated
Cowen & Company
A.G. Edwards & Sons, Inc.
Janney Montgomery Scott Inc.
Needham & Company, Inc.
Underwriting for #24
- --------------------
Credit Suisse First Boston Corporation
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Smith Barney Inc.
Goldman Sachs & Co.
Montgomery Securities
Genesis Merchant Group Securities
Jensen Securities Co.
Underwriting for #25, 26 & 27
- -----------------------------
Dean Witter Reynolds Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Smith Barney Inc.
Advest, Inc.
Sanford C. Bernstein & Co., Inc.
J.C. Bradford & Co.
Conning & Company
Credit Suisse First Boston Corporation
Dain Bosworth Incorporated
Dowling & Partners Securities, LLC
A.G. Edwards & Sons, Inc.
Fox-Pitt, Kelton Inc.
Interstate/Johnson Lane Corporation
Janney Montgomery Scott Inc.
Edward D. Jones & Co., L.P.
Legg Mason Wood Walker, Incorporated
Lehman Brothers Inc.
Neuberger & Berman, LLC
PaineWebber Incorporated
Piper Jaffray Inc.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Stephens Inc.
Sutro & Co. Incorporated
Wheat, First Securities, Inc.
Underwriting for #28, 29 & 30
- -----------------------------
Morgan Stanley & Co. Incorporated
Dillon Read & Co. Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
PaineWebber Incorporated
Salomon Brothers Inc.
Edward D. Jones & Co., L.P.
Scott & Stringfellow, Inc.
Morgan Stanley & Co. International Limited
The Investment Bank of Ireland Limited
Underwriting for #31
- --------------------
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Advest, Inc.
Robert W. Baird & Co. Incorporated
Bear, Stearns & Co. Inc.
William Blair & Company, L.L.C.
Blaylock & Partners, L.P.
The Buckingham Research Group, Incorporated
Chase Securities Inc.
Dain Bosworth Incorporated
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
EVEREN Securities, Inc.
Furman Selz LLC
Gerard Klauer Mattison & Co., Inc.
J.J.B. Hilliard, W.L. Lyons, Inc.
Interstate/Johnson Lane Corporation
Edward D. Jones & Co., L.P.
Lazard Freres & Co. LLC
Legg Mason Wood Walker Incorporated
Montgomery Securities
J.P. Morgan Securities, Inc.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Rauscher Pierce Refsnes, Inc.
Robertson, Stephens & Company LLC
Roney & Co., LLC
Salomon Brothers Inc.
Charles Schwab & Co., Inc.
Scott & Stringfellow, Inc.
Muriel Siebert & Co., Inc.
Smith Barney Inc.
Stephens Inc.
Stifel, Nicolaus & Company, Incorporated
Sutro & Co. Incorporated
Tucker Anthony Incorporated
Wasserstein Perella Securities, Inc.
Underwriting for #32 & 33
- -------------------------
ABN AMRO Chicago Corporation
Lehman Brothers Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
A.G. Edwards & Sons, Inc.
Morgan Stanley & Co. Incorporated
Prudential Securities Incorporated
Advest, Inc.
Dain Bosworth Incorporated
Edward D. Jones & Co., L.P.
McDonald & Company Securities, Inc.
Nesbitt Burns Securities Inc.
Stephens Inc.
Stifel, Nicolaus & Company, Incorporated
Sutro & Co. Incorporated
Underwriting for #34
- --------------------
Morgan Stanley & Co. Incorporated
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Bear, Stearns & Co. Inc.
Credit Suisse First Boston Corporation
Donaldson, Lufkin & Jenrette Securities Corporation
Goldman, Sachs & Co.
Smith Barney Inc.
ABN AMRO Chicago Corporation
BancAmerica Securities, Inc.
Alex. Brown & Sons Incorporated
Chase Securities Inc.
EVEREN Securities, Inc.
J.P. Morgan Securities Inc.
Nesbitt Burns Securities Inc.
Piper Jaffray Inc.
RBC Dominion Securities Inc.
TD Securities (USA) Inc.
Morgan Stanley & Co. International Limited
Merrill Lynch International
Bear, Stearns International Limited
Credit Suisse First Boston (Europe) Limited
Goldman Sachs International
ABN AMRO Rothschild
Banca Commerciale Italiana SpA
Barclays de Zoete Wedd Limited
Den Danske Bank Aktieselskab
Morgan Grenfell & Co. Limited
NatWest Securities Limited
Societe Generale
Underwriting for #35 & 36
- -------------------------
Montgomery Securities
Alex. Brown & Sons Incorporated
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Goldman, Sachs & Co.
Hambrecht & Quist LLC
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
Robertson, Stephens & Company LLC
Schroder Wertheim & Co. Incorporated
Smith Barney Inc.
Adams, Harkness & Hill, Inc.
Advest, Inc.
Robert W. Baird & Co. Incorporated
George K. Baum & Company
Ferris, Baker Watts, Incorporated
First of Michigan Corporation
Friedman, Billings, Ramsey & Co. Inc.
Furman Selz LLC
Gerard Klauer Mattison & Co., Inc.
Hanifen, Imhoff Inc.
Howe Barnes Investments, Inc.
Janney Montgomery Scott Inc.
Johnston, Lemon & Co. Incorporated
Legg Mason Wood Walker, Incorporated
McDonald & Company Securities, Inc.
Mesirow Financial
Needham & Company, Inc.
The Robinson-Humphrey Company, Inc.
Unterberg Harris
Wheat First Butcher Singer
Underwriting for #37
- --------------------
Goldman, Sachs & Co.
ABN AMRO Chicago Corporation
Johnson Rice & Company L.L.C.
Alex. Brown & Sons Incorporated
Credit Suisse First Boston Corporation
A.G. Edwards & Sons, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Nesbitt Burns Securities Inc.
Raymond James & Associates, Inc.
Wasserstein Perella Securities, Inc.
William Blair & Company, L.L.C.
J.C. Bradford & Co.
Doley Securities, Inc.
Furman Selz LLC
Neuberger & Berman L.L.C.
The Robinson-Humphrey Company, Inc.
Sanders Morris Mundy Inc.
Underwriting for #38
- --------------------
Hambrecht & Quist LLC
Piper Jaffray Inc.
Alex. Brown & Sons Incorporated
Dain Bosworth Incorporated
A.G. Edwards & Sons, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Robertson, Stephens & Company, LLC
Smith Barney Inc.
Wessels, Arnold & Henderson L.L.C.
Underwriting for #39
- --------------------
Goldman, Sachs & Co.
Lehman Brothers Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
J.P. Morgan Securities Inc.
Morgan Stanley & Co. Incorporated
SBC Warburg Inc.
Istituto Mobiliare Italiano S.p.A.
Smith Barney Inc.
ABN AMRO Chicago Corporation
Alex. Brown & Sons Incorporated
Deutsche Morgan Grenfell Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Fahnestock & Co. Inc.
Petrie Parkman & Co.
RBC Dominion Securities Corporation
Schroder Wertheim & Co. Incorporated
Scotia Capital Markets (USA) Inc.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> Utility Fund Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 128056637<F1>
<INVESTMENTS-AT-VALUE> 140963671<F1>
<RECEIVABLES> 2845415<F1>
<ASSETS-OTHER> 29392<F1>
<OTHER-ITEMS-ASSETS> 4144<F1>
<TOTAL-ASSETS> 143842622<F1>
<PAYABLE-FOR-SECURITIES> 2598716<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 568575<F1>
<TOTAL-LIABILITIES> 3167291<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 44783868
<SHARES-COMMON-STOCK> 3192071
<SHARES-COMMON-PRIOR> 3768641
<ACCUMULATED-NII-CURRENT> 382954<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 7464449<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 12907034<F1>
<NET-ASSETS> 52481801
<DIVIDEND-INCOME> 6439432<F1>
<INTEREST-INCOME> 1414846<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (2727940)<F1>
<NET-INVESTMENT-INCOME> 5126338<F1>
<REALIZED-GAINS-CURRENT> 10817404<F1>
<APPREC-INCREASE-CURRENT> 1002087<F1>
<NET-CHANGE-FROM-OPS> 16945829<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (2064034)
<DISTRIBUTIONS-OF-GAINS> (683737)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2620830
<NUMBER-OF-SHARES-REDEEMED> (3344356)
<SHARES-REINVESTED> 146956
<NET-CHANGE-IN-ASSETS> (5172019)
<ACCUMULATED-NII-PRIOR> 17591<F1>
<ACCUMULATED-GAINS-PRIOR> (1490660)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 937503<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 2732981<F1>
<AVERAGE-NET-ASSETS> 53512393
<PER-SHARE-NAV-BEGIN> 15.298
<PER-SHARE-NII> 0.637
<PER-SHARE-GAIN-APPREC> 1.317
<PER-SHARE-DIVIDEND> (0.610)
<PER-SHARE-DISTRIBUTIONS> (0.201)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 16.441
<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> 12
<NAME> Utility Fund Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 128056637<F1>
<INVESTMENTS-AT-VALUE> 140963671<F1>
<RECEIVABLES> 2845415<F1>
<ASSETS-OTHER> 29392<F1>
<OTHER-ITEMS-ASSETS> 4144<F1>
<TOTAL-ASSETS> 143842622<F1>
<PAYABLE-FOR-SECURITIES> 2598716<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 568575<F1>
<TOTAL-LIABILITIES> 3167291<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 71029312
<SHARES-COMMON-STOCK> 5067268
<SHARES-COMMON-PRIOR> 6076415
<ACCUMULATED-NII-CURRENT> 382954<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 7464449<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 12907034<F1>
<NET-ASSETS> 83275491
<DIVIDEND-INCOME> 6439432<F1>
<INTEREST-INCOME> 1414846<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (2727940)<F1>
<NET-INVESTMENT-INCOME> 5126338<F1>
<REALIZED-GAINS-CURRENT> 10817404<F1>
<APPREC-INCREASE-CURRENT> 1002087<F1>
<NET-CHANGE-FROM-OPS> 16945829<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (2700742)
<DISTRIBUTIONS-OF-GAINS> (1114278)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 496213
<NUMBER-OF-SHARES-REDEEMED> (1709336)
<SHARES-REINVESTED> 203976
<NET-CHANGE-IN-ASSETS> (9668150)
<ACCUMULATED-NII-PRIOR> 17591<F1>
<ACCUMULATED-GAINS-PRIOR> (1490660)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 937503<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 2732981<F1>
<AVERAGE-NET-ASSETS> 86066172
<PER-SHARE-NAV-BEGIN> 15.296
<PER-SHARE-NII> 0.519
<PER-SHARE-GAIN-APPREC> 1.314
<PER-SHARE-DIVIDEND> (0.494)
<PER-SHARE-DISTRIBUTIONS> (0.201)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 16.434
<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> 13
<NAME> Utility Fund Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 128056637<F1>
<INVESTMENTS-AT-VALUE> 140963671<F1>
<RECEIVABLES> 2845415<F1>
<ASSETS-OTHER> 29392<F1>
<OTHER-ITEMS-ASSETS> 4144<F1>
<TOTAL-ASSETS> 143842622<F1>
<PAYABLE-FOR-SECURITIES> 2598716<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 568575<F1>
<TOTAL-LIABILITIES> 3167291<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 4107714
<SHARES-COMMON-STOCK> 299404
<SHARES-COMMON-PRIOR> 324501
<ACCUMULATED-NII-CURRENT> 382954<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 7464449<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 12907034<F1>
<NET-ASSETS> 4918039
<DIVIDEND-INCOME> 6439432<F1>
<INTEREST-INCOME> 1414846<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (2727940)<F1>
<NET-INVESTMENT-INCOME> 5126338<F1>
<REALIZED-GAINS-CURRENT> 10817404<F1>
<APPREC-INCREASE-CURRENT> 1002087<F1>
<NET-CHANGE-FROM-OPS> 16945829<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (153673)
<DISTRIBUTIONS-OF-GAINS> (63379)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 55249
<NUMBER-OF-SHARES-REDEEMED> (89228)
<SHARES-REINVESTED> 8882
<NET-CHANGE-IN-ASSETS> (43489)
<ACCUMULATED-NII-PRIOR> 17591<F1>
<ACCUMULATED-GAINS-PRIOR> (1490660)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 937503<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 2732981<F1>
<AVERAGE-NET-ASSETS> 4867454
<PER-SHARE-NAV-BEGIN> 15.290
<PER-SHARE-NII> 0.503
<PER-SHARE-GAIN-APPREC> 1.328
<PER-SHARE-DIVIDEND> (0.494)
<PER-SHARE-DISTRIBUTIONS> (0.201)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 16.426
<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> 31
<NAME> Great American Companies Fund Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1149514<F1>
<INVESTMENTS-AT-VALUE> 1347641<F1>
<RECEIVABLES> 31511<F1>
<ASSETS-OTHER> 28103<F1>
<OTHER-ITEMS-ASSETS> 108724<F1>
<TOTAL-ASSETS> 1515979<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 64461<F1>
<TOTAL-LIABILITIES> 64461<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 1069863
<SHARES-COMMON-STOCK> 88566
<SHARES-COMMON-PRIOR> 7000
<ACCUMULATED-NII-CURRENT> (2999)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 51566<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 198127<F1>
<NET-ASSETS> 1260774
<DIVIDEND-INCOME> 6139<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (6508)<F1>
<NET-INVESTMENT-INCOME> (369)<F1>
<REALIZED-GAINS-CURRENT> 56138<F1>
<APPREC-INCREASE-CURRENT> 176652<F1>
<NET-CHANGE-FROM-OPS> 232421<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (133)
<DISTRIBUTIONS-OF-GAINS> (6296)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 81566
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1179420
<ACCUMULATED-NII-PRIOR> 373<F1>
<ACCUMULATED-GAINS-PRIOR> 10594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3607<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 92735<F1>
<AVERAGE-NET-ASSETS> 356530
<PER-SHARE-NAV-BEGIN> 11.622
<PER-SHARE-NII> (0.003)
<PER-SHARE-GAIN-APPREC> 3.535
<PER-SHARE-DIVIDEND> (0.019)
<PER-SHARE-DISTRIBUTIONS> (0.900)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 14.235
<EXPENSE-RATIO> 1.59
<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> 32
<NAME> Great American Companies Fund Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1149514<F1>
<INVESTMENTS-AT-VALUE> 1347641<F1>
<RECEIVABLES> 31511<F1>
<ASSETS-OTHER> 28103<F1>
<OTHER-ITEMS-ASSETS> 108724<F1>
<TOTAL-ASSETS> 1515979<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 64461<F1>
<TOTAL-LIABILITIES> 64461<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 64969
<SHARES-COMMON-STOCK> 6500
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> (2999)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 51566<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 198127<F1>
<NET-ASSETS> 92538
<DIVIDEND-INCOME> 6139<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (6508)<F1>
<NET-INVESTMENT-INCOME> (369)<F1>
<REALIZED-GAINS-CURRENT> 56138<F1>
<APPREC-INCREASE-CURRENT> 176652<F1>
<NET-CHANGE-FROM-OPS> 232421<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> 16994
<ACCUMULATED-NII-PRIOR> 373<F1>
<ACCUMULATED-GAINS-PRIOR> 10594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3607<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 92735<F1>
<AVERAGE-NET-ASSETS> 81164
<PER-SHARE-NAV-BEGIN> 11.622
<PER-SHARE-NII> (0.007)
<PER-SHARE-GAIN-APPREC> 3.541
<PER-SHARE-DIVIDEND> (0.019)
<PER-SHARE-DISTRIBUTIONS> (0.900)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 14.237
<EXPENSE-RATIO> 1.59
<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> 33
<NAME> Great American Companies Fund Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1149514<F1>
<INVESTMENTS-AT-VALUE> 1347641<F1>
<RECEIVABLES> 31511<F1>
<ASSETS-OTHER> 28103<F1>
<OTHER-ITEMS-ASSETS> 108724<F1>
<TOTAL-ASSETS> 1515979<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 64461<F1>
<TOTAL-LIABILITIES> 64461<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 69992
<SHARES-COMMON-STOCK> 6898
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> (2999)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 51566<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 198127<F1>
<NET-ASSETS> 98206
<DIVIDEND-INCOME> 6139<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (6508)<F1>
<NET-INVESTMENT-INCOME> (369)<F1>
<REALIZED-GAINS-CURRENT> 56138<F1>
<APPREC-INCREASE-CURRENT> 176652<F1>
<NET-CHANGE-FROM-OPS> 232421<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (123)
<DISTRIBUTIONS-OF-GAINS> (5847)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 398
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 22662
<ACCUMULATED-NII-PRIOR> 373<F1>
<ACCUMULATED-GAINS-PRIOR> 10594<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3607<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 92735<F1>
<AVERAGE-NET-ASSETS> 82903
<PER-SHARE-NAV-BEGIN> 11.622
<PER-SHARE-NII> (0.007)
<PER-SHARE-GAIN-APPREC> 3.541
<PER-SHARE-DIVIDEND> (0.019)
<PER-SHARE-DISTRIBUTIONS> (0.900)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 14.237
<EXPENSE-RATIO> 1.59
<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> 41
<NAME> Growth Fund Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 110087404<F1>
<INVESTMENTS-AT-VALUE> 117665832<F1>
<RECEIVABLES> 119013<F1>
<ASSETS-OTHER> 28103<F1>
<OTHER-ITEMS-ASSETS> 4934<F1>
<TOTAL-ASSETS> 117817882<F1>
<PAYABLE-FOR-SECURITIES> 585000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 809754<F1>
<TOTAL-LIABILITIES> 1394754<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 50593110
<SHARES-COMMON-STOCK> 2972290
<SHARES-COMMON-PRIOR> 10113
<ACCUMULATED-NII-CURRENT> (23118)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (1783047)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 7542991<F1>
<NET-ASSETS> 53137178
<DIVIDEND-INCOME> 158417<F1>
<INTEREST-INCOME> 441633<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (686274)<F1>
<NET-INVESTMENT-INCOME> (86224)<F1>
<REALIZED-GAINS-CURRENT> (1757194)<F1>
<APPREC-INCREASE-CURRENT> 7484772<F1>
<NET-CHANGE-FROM-OPS> 5641354<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (24246)
<DISTRIBUTIONS-OTHER> (20964)
<NUMBER-OF-SHARES-SOLD> 3381843
<NUMBER-OF-SHARES-REDEEMED> (419798)
<SHARES-REINVESTED> 132
<NET-CHANGE-IN-ASSETS> 52998668
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 22484<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 297312<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1088453<F1>
<AVERAGE-NET-ASSETS> 18687266
<PER-SHARE-NAV-BEGIN> 13.696
<PER-SHARE-NII> 0.031
<PER-SHARE-GAIN-APPREC> 4.810
<PER-SHARE-DIVIDEND> (0.353)
<PER-SHARE-DISTRIBUTIONS> (0.306)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 17.878
<EXPENSE-RATIO> 1.32
<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> 42
<NAME> Growth Fund Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 110087404<F1>
<INVESTMENTS-AT-VALUE> 117665832<F1>
<RECEIVABLES> 119013<F1>
<ASSETS-OTHER> 28103<F1>
<OTHER-ITEMS-ASSETS> 4934<F1>
<TOTAL-ASSETS> 117817882<F1>
<PAYABLE-FOR-SECURITIES> 585000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 809754<F1>
<TOTAL-LIABILITIES> 1394754<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 52263425
<SHARES-COMMON-STOCK> 3091364
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> (23118)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (1783047)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 7542991<F1>
<NET-ASSETS> 55014556
<DIVIDEND-INCOME> 158417<F1>
<INTEREST-INCOME> 441633<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (686274)<F1>
<NET-INVESTMENT-INCOME> (86224)<F1>
<REALIZED-GAINS-CURRENT> (1757194)<F1>
<APPREC-INCREASE-CURRENT> 7484772<F1>
<NET-CHANGE-FROM-OPS> 5641354<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (537)
<DISTRIBUTIONS-OTHER> (465)
<NUMBER-OF-SHARES-SOLD> 3282280
<NUMBER-OF-SHARES-REDEEMED> (197416)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 54925538
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 22484<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 297312<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1088453<F1>
<AVERAGE-NET-ASSETS> 18538662
<PER-SHARE-NAV-BEGIN> 13.695
<PER-SHARE-NII> (0.093)
<PER-SHARE-GAIN-APPREC> 4.853
<PER-SHARE-DIVIDEND> (0.353)
<PER-SHARE-DISTRIBUTIONS> (0.306)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 17.796
<EXPENSE-RATIO> 2.07
<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> 43
<NAME> Growth Fund Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 110087404<F1>
<INVESTMENTS-AT-VALUE> 117665832<F1>
<RECEIVABLES> 119013<F1>
<ASSETS-OTHER> 28103<F1>
<OTHER-ITEMS-ASSETS> 4934<F1>
<TOTAL-ASSETS> 117817882<F1>
<PAYABLE-FOR-SECURITIES> 585000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 809754<F1>
<TOTAL-LIABILITIES> 1394754<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 7829767
<SHARES-COMMON-STOCK> 464855
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> (23118)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (1783047)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 7542991<F1>
<NET-ASSETS> 8271394
<DIVIDEND-INCOME> 158417<F1>
<INTEREST-INCOME> 441633<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (686274)<F1>
<NET-INVESTMENT-INCOME> (86224)<F1>
<REALIZED-GAINS-CURRENT> (1757194)<F1>
<APPREC-INCREASE-CURRENT> 7484772<F1>
<NET-CHANGE-FROM-OPS> 5641354<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (530)
<DISTRIBUTIONS-OTHER> (458)
<NUMBER-OF-SHARES-SOLD> 548147
<NUMBER-OF-SHARES-REDEEMED> (89792)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8182376
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 22484<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 297312<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1088453<F1>
<AVERAGE-NET-ASSETS> 3087660
<PER-SHARE-NAV-BEGIN> 13.695
<PER-SHARE-NII> (0.096)
<PER-SHARE-GAIN-APPREC> 4.853
<PER-SHARE-DIVIDEND> (0.353)
<PER-SHARE-DISTRIBUTIONS> (0.306)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 17.793
<EXPENSE-RATIO> 2.07
<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> Prospector Fund Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1266749<F1>
<INVESTMENTS-AT-VALUE> 1425539<F1>
<RECEIVABLES> 30187<F1>
<ASSETS-OTHER> 28059<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 1483785<F1>
<PAYABLE-FOR-SECURITIES> 24858<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 53878<F1>
<TOTAL-LIABILITIES> 78736<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 1073252
<SHARES-COMMON-STOCK> 91217
<SHARES-COMMON-PRIOR> 7000
<ACCUMULATED-NII-CURRENT> 602<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 41519<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 158790<F1>
<NET-ASSETS> 1228961
<DIVIDEND-INCOME> 11985<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (6411)<F1>
<NET-INVESTMENT-INCOME> 5574<F1>
<REALIZED-GAINS-CURRENT> 50199<F1>
<APPREC-INCREASE-CURRENT> 140918<F1>
<NET-CHANGE-FROM-OPS> 196691<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (4041)
<DISTRIBUTIONS-OF-GAINS> (5460)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 83963
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 254
<NET-CHANGE-IN-ASSETS> 1149965
<ACCUMULATED-NII-PRIOR> 912<F1>
<ACCUMULATED-GAINS-PRIOR> 6920<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3561<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 95977<F1>
<AVERAGE-NET-ASSETS> 354013
<PER-SHARE-NAV-BEGIN> 11.285
<PER-SHARE-NII> 0.115
<PER-SHARE-GAIN-APPREC> 2.996
<PER-SHARE-DIVIDEND> (0.143)
<PER-SHARE-DISTRIBUTIONS> (0.780)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.473
<EXPENSE-RATIO> 1.55
<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> Prospector Fund Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1266749<F1>
<INVESTMENTS-AT-VALUE> 1425539<F1>
<RECEIVABLES> 30187<F1>
<ASSETS-OTHER> 28059<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 1483785<F1>
<PAYABLE-FOR-SECURITIES> 24858<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 53878<F1>
<TOTAL-LIABILITIES> 78736<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65443
<SHARES-COMMON-STOCK> 6535
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> 602<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 41519<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 158790<F1>
<NET-ASSETS> 88044
<DIVIDEND-INCOME> 11985<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (6411)<F1>
<NET-INVESTMENT-INCOME> 5574<F1>
<REALIZED-GAINS-CURRENT> 50199<F1>
<APPREC-INCREASE-CURRENT> 140918<F1>
<NET-CHANGE-FROM-OPS> 196691<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1023)
<DISTRIBUTIONS-OF-GAINS> (5070)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 35
<NET-CHANGE-IN-ASSETS> 14690
<ACCUMULATED-NII-PRIOR> 912<F1>
<ACCUMULATED-GAINS-PRIOR> 6920<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3561<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 95977<F1>
<AVERAGE-NET-ASSETS> 79448
<PER-SHARE-NAV-BEGIN> 11.285
<PER-SHARE-NII> 0.113
<PER-SHARE-GAIN-APPREC> 3.020
<PER-SHARE-DIVIDEND> (0.165)
<PER-SHARE-DISTRIBUTIONS> (0.780)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.473
<EXPENSE-RATIO> 1.55
<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> Prospector Fund Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1266749<F1>
<INVESTMENTS-AT-VALUE> 1425539<F1>
<RECEIVABLES> 30187<F1>
<ASSETS-OTHER> 28059<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 1483785<F1>
<PAYABLE-FOR-SECURITIES> 24858<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 53878<F1>
<TOTAL-LIABILITIES> 78736<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 65443
<SHARES-COMMON-STOCK> 6535
<SHARES-COMMON-PRIOR> 6500
<ACCUMULATED-NII-CURRENT> 602<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 41519<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 158790<F1>
<NET-ASSETS> 88044
<DIVIDEND-INCOME> 11985<F1>
<INTEREST-INCOME> 0<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (6411)<F1>
<NET-INVESTMENT-INCOME> 5574<F1>
<REALIZED-GAINS-CURRENT> 50199<F1>
<APPREC-INCREASE-CURRENT> 140918<F1>
<NET-CHANGE-FROM-OPS> 196691<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1023)
<DISTRIBUTIONS-OF-GAINS> (5070)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 35
<NET-CHANGE-IN-ASSETS> 14690
<ACCUMULATED-NII-PRIOR> 912<F1>
<ACCUMULATED-GAINS-PRIOR> 6920<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3561<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 95977<F1>
<AVERAGE-NET-ASSETS> 79448
<PER-SHARE-NAV-BEGIN> 11.285
<PER-SHARE-NII> 0.113
<PER-SHARE-GAIN-APPREC> 3.020
<PER-SHARE-DIVIDEND> (0.165)
<PER-SHARE-DISTRIBUTIONS> (0.780)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.473
<EXPENSE-RATIO> 1.55
<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> 61
<NAME> Aggressive Growth Fund Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 150941923<F1>
<INVESTMENTS-AT-VALUE> 190063299<F1>
<RECEIVABLES> 2723830<F1>
<ASSETS-OTHER> 82274<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 192869403<F1>
<PAYABLE-FOR-SECURITIES> 1825000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 2016501<F1>
<TOTAL-LIABILITIES> 3841501<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 78128681
<SHARES-COMMON-STOCK> 8440294
<SHARES-COMMON-PRIOR> 3328511
<ACCUMULATED-NII-CURRENT> (34878)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (26740339)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 39121376<F1>
<NET-ASSETS> 83965004
<DIVIDEND-INCOME> 152321<F1>
<INTEREST-INCOME> 546602<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (2382535)<F1>
<NET-INVESTMENT-INCOME> (1683612)<F1>
<REALIZED-GAINS-CURRENT> (25868909)<F1>
<APPREC-INCREASE-CURRENT> 39073042<F1>
<NET-CHANGE-FROM-OPS> 11520521<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9770450
<NUMBER-OF-SHARES-REDEEMED> (4658667)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 53615464
<ACCUMULATED-NII-PRIOR> (5125)<F1>
<ACCUMULATED-GAINS-PRIOR> (871430)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1050716<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 2815626<F1>
<AVERAGE-NET-ASSETS> 67366074
<PER-SHARE-NAV-BEGIN> 9.118
<PER-SHARE-NII> (0.065)
<PER-SHARE-GAIN-APPREC> 0.895
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.948
<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> 62
<NAME> Aggressive Growth Fund Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 150941923<F1>
<INVESTMENTS-AT-VALUE> 190063299<F1>
<RECEIVABLES> 2723830<F1>
<ASSETS-OTHER> 82274<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 192869403<F1>
<PAYABLE-FOR-SECURITIES> 1825000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 2016501<F1>
<TOTAL-LIABILITIES> 3841501<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 88239951
<SHARES-COMMON-STOCK> 9548967
<SHARES-COMMON-PRIOR> 2800801
<ACCUMULATED-NII-CURRENT> (34878)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (26740339)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 39121376<F1>
<NET-ASSETS> 94224121
<DIVIDEND-INCOME> 152321<F1>
<INTEREST-INCOME> 546602<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (2382535)<F1>
<NET-INVESTMENT-INCOME> (1683612)<F1>
<REALIZED-GAINS-CURRENT> (25868909)<F1>
<APPREC-INCREASE-CURRENT> 39073042<F1>
<NET-CHANGE-FROM-OPS> 11520521<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8682864
<NUMBER-OF-SHARES-REDEEMED> (1934698)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 68704492
<ACCUMULATED-NII-PRIOR> (5125)<F1>
<ACCUMULATED-GAINS-PRIOR> (871430)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1050716<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 2815626<F1>
<AVERAGE-NET-ASSETS> 66045497
<PER-SHARE-NAV-BEGIN> 9.112
<PER-SHARE-NII> (0.105)
<PER-SHARE-GAIN-APPREC> 0.860
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.867
<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> 63
<NAME> Aggressive Growth Fund Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 150941923<F1>
<INVESTMENTS-AT-VALUE> 190063299<F1>
<RECEIVABLES> 2723830<F1>
<ASSETS-OTHER> 82274<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 192869403<F1>
<PAYABLE-FOR-SECURITIES> 1825000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 2016501<F1>
<TOTAL-LIABILITIES> 3841501<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 10313111
<SHARES-COMMON-STOCK> 1098257
<SHARES-COMMON-PRIOR> 432385
<ACCUMULATED-NII-CURRENT> (34878)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (26740339)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 39121376<F1>
<NET-ASSETS> 10838777
<DIVIDEND-INCOME> 152321<F1>
<INTEREST-INCOME> 546602<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (2382535)<F1>
<NET-INVESTMENT-INCOME> (1683612)<F1>
<REALIZED-GAINS-CURRENT> (25868909)<F1>
<APPREC-INCREASE-CURRENT> 39073042<F1>
<NET-CHANGE-FROM-OPS> 11520521<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 950840
<NUMBER-OF-SHARES-REDEEMED> (284968)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 6898303
<ACCUMULATED-NII-PRIOR> (5125)<F1>
<ACCUMULATED-GAINS-PRIOR> (871430)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1050716<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 2815626<F1>
<AVERAGE-NET-ASSETS> 7455810
<PER-SHARE-NAV-BEGIN> 9.113
<PER-SHARE-NII> (0.103)
<PER-SHARE-GAIN-APPREC> 0.859
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.869
<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>
