KENT FUNDS
NSAR-A, 1996-08-28
Previous: CAPITAL REALTY INVESTORS TAX EXEMPT FUND LTD PARTNERSHIP, 8-K, 1996-08-28
Next: ATC CAPITAL GROUP LTD, S-8, 1996-08-28



<PAGE>      PAGE  1
000 A000000 06/30/96
000 C000000 0000799700
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE KENT FUNDS
001 B000000 811-4824
001 C000000 5088714068
002 A000000 4400 COMPUTER DRIVE
002 B000000 WESTBORO
002 C000000 MA
002 D010000 01581
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 13
007 C010100  1
007 C020100 THE KENT MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 THE KENT MICHIGAN MUNICIPAL MONEY MARKET FUND
007 C030200 N
007 C010300  3
007 C020300 THE KENT GROWTH AND INCOME FUND
007 C030300 N
007 C010400  4
007 C020400 THE KENT INDEX EQUITY FUND
007 C030400 N
007 C010500  5
007 C020500 THE KENT INTERNATIONAL GROWTH FUND
007 C030500 N
007 C010600  6
007 C020600 THE KENT SMALL COMPANY GROWTH FUND
007 C030600 N
007 C010700  7
007 C020700 THE KENT SHORT TERM BOND FUND
007 C030700 N
007 C010800  8
007 C020800 THE KENT INTERMEDIATE TAX-FREE FUND
007 C030800 N
007 C010900  9
007 C020900 THE KENT INTERMEDIATE BOND FUND
007 C030900 N
007 C011000 10
007 C021000 THE KENT MICHIGAN MUNICIPAL BOND FUND
<PAGE>      PAGE  2
007 C031000 N
007 C011100 11
007 C021100 THE KENT LIMITED TERM TAX-FREE FUND
007 C031100 N
007 C011200 12
007 C021200 THE KENT INCOME FUND
007 C031200 N
007 C011300 13
007 C021300 THE KENT TAX-FREE INCOME FUND
007 C031300 N
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 OLD KENT BANK
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 GRAND RAPIDS
008 D02AA01 MI
008 D03AA01 49503
010 A00AA01 FIRST DATA INVESTOR SERVICES GROUP,INC.
010 B00AA01 84-1760
010 C01AA01 WESTBORO
010 C02AA01 MA
010 C03AA01 01581
011 A00AA01 440 FINANCIAL DISTRIBUTORS, INC.
011 B00AA01 8-45467
011 C01AA01 WESTBORO
011 C02AA01 MA
011 C03AA01 01581
011 C04AA01 5108
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP,INC.
012 B00AA01 84-1760
012 C01AA01 WESTBORO
012 C02AA01 MA
012 C03AA01 01581
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02108
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 EXECUTION SERVICES
020 C000001    132
020 A000002 MORGAN STANLYEY & CO., INC.
020 C000002    126
020 A000003 ERNST & COMPANY
<PAGE>      PAGE  3
020 C000003     92
020 A000004 NATIONAL FINANCIAL SERVICES
020 C000004     83
020 A000005 PAINE WEBBER
020 C000005     63
020 A000006 COWEN & CO.
020 C000006     53
020 A000007 PERSHING
020 C000007     10
020 A000008 STIFEL NICOLAUS & CO.
020 C000008      9
020 A000009 RONEY & CO.
020 C000009      9
020 A000010 MERRILL LYNCH, PIERCE, FENNER, SMITH
020 C000010      6
021  000000      589
022 A000001 PERSHING
022 C000001   5133294
022 D000001     14205
022 A000002 DREYFUS
022 C000002    634266
022 D000002    566711
022 A000003 LEHMAN SECURITIES
022 C000003    590901
022 D000003    108305
022 A000004 CARROLL MCENTEE & MCGINLEY
022 C000004    532150
022 D000004     39792
022 A000005 BEAR STERNS
022 C000005    274566
022 D000005    251955
022 A000006 ARBOR TRADING GROUP
022 C000006    160549
022 D000006    178300
022 A000007 FIRST BOSTON
022 C000007    186940
022 D000007    101720
022 A000008 SMITH BARNEY, HARRIS UPHAM & CO.
022 C000008    168939
022 D000008    111429
022 A000009 GOLDMAN SACHS & CO.
022 C000009    196489
022 D000009     19200
022 A000010 JP MORGAN
022 C000010    178772
022 D000010     15141
023 C000000    9240694
023 D000000    1777514
026 A000000 Y
026 B000000 Y
026 C000000 N
<PAGE>      PAGE  4
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
034  00AA00 N
035  00AA00      0
036 B00AA00      0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     1000
077 A000000 Y
077 B000000 Y
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 C00AA00        0
081 B00AA00   0
082 B00AA00        0
083 B00AA00        0
084 B00AA00        0
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
<PAGE>      PAGE  5
086 F010000      0
086 F020000      0
015 A000101 BANKERS TRUST CO.
015 B000101 C
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10005
015 E010101 X
024  000100 Y
025 A000101 DONALDSON, LUFKIN & JENRETTE
025 B000101 13-2741729
025 C000101 D
025 D000101   27998
025 A000102 J.P. MORGAN
025 B000102 13-3224016
025 C000102 D
025 D000102   14000
025 D000103       0
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100     83676
028 A020100         0
028 A030100         0
028 A040100     65275
028 B010100     79548
028 B020100        47
028 B030100         0
028 B040100     77255
028 C010100     43159
028 C020100        45
028 C030100         0
028 C040100     88391
028 D010100     70409
028 D020100        47
028 D030100         0
028 D040100     82943
028 E010100     90738
028 E020100        45
028 E030100         0
028 E040100     59125
028 F010100     67818
028 F020100        95
028 F030100         0
028 F040100     86537
028 G010100    435348
028 G020100       279
028 G030100         0
028 G040100    459526
<PAGE>      PAGE  6
028 H000100         0
029  000100 N
030 A000100      0
030 B000100  0.00
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
037  000100 N
038  000100      0
039  000100 N
040  000100 Y
041  000100 N
042 A000100   0
042 B000100   0
042 C000100   0
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100      0
044  000100      0
045  000100 Y
046  000100 N
047  000100 Y
048  000100  0.400
048 A010100        0
048 A020100 0.000
048 B010100        0
048 B020100 0.000
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
049  000100 N
<PAGE>      PAGE  7
050  000100 N
051  000100 N
052  000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
055 A000100 Y
055 B000100 N
056  000100 Y
057  000100 N
062 A000100 Y
062 B000100   4.7
062 C000100   0.0
062 D000100   6.9
062 E000100   0.0
062 F000100  28.4
062 G000100   0.0
062 H000100   8.1
062 I000100  45.0
062 J000100   0.0
062 K000100   0.0
062 L000100   6.8
062 M000100   0.0
062 N000100   0.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.1
063 A000100  49
063 B000100  0.0
064 A000100 N
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
<PAGE>      PAGE  8
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100  6
072 B000100    11718
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100      860
072 G000100      430
072 H000100        0
072 I000100       12
072 J000100       11
072 K000100        0
072 L000100        3
072 M000100        2
072 N000100        2
072 O000100        0
072 P000100        0
072 Q000100        1
072 R000100        3
072 S000100        2
072 T000100        0
072 U000100        0
072 V000100        0
072 W000100        0
072 X000100     1326
072 Y000100      215
<PAGE>      PAGE  9
072 Z000100    10607
072AA000100        0
072BB000100       27
072CC010100        0
072CC020100        0
072DD010100    10578
072DD020100       29
072EE000100        0
073 A010100   0.0200
073 A020100   0.0200
073 B000100   0.0000
073 C000100   0.0000
074 A000100        0
074 B000100    27998
074 C000100   373739
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100        0
074 K000100        0
074 L000100     2091
074 M000100        0
074 N000100   403828
074 O000100        0
074 P000100       28
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     1657
074 S000100        0
074 T000100   402143
074 U010100   400970
074 U020100     1166
074 V010100     1.00
074 V020100     1.00
074 W000100   0.9997
074 X000100      128
074 Y000100        0
075 A000100   432291
075 B000100        0
076  000100     0.00
015 A000201 BANKERS TRUST CO.
015 B000201 C
015 C010201 NEW YORK
015 C020201 NY
015 C030201 10005
015 E010201 X
<PAGE>      PAGE  10
024  000200 Y
025 A000201 REICH & TANG TAX EXEMPT FUND
025 C000201 D
025 D000201    1406
025 A000202 DREYFUS TAX EXEMPT FUND
025 B000202 13-5673135
025 C000202 D
025 D000202       7
025 D000203       0
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200     31836
028 A020200         0
028 A030200         0
028 A040200     18451
028 B010200     17019
028 B020200         4
028 B030200         0
028 B040200     10306
028 C010200     12372
028 C020200         2
028 C030200         0
028 C040200      9769
028 D010200     17221
028 D020200         3
028 D030200         0
028 D040200     29027
028 E010200     14828
028 E020200         3
028 E030200         0
028 E040200      7667
028 F010200      7877
028 F020200         5
028 F030200         0
028 F040200      9041
028 G010200    101153
028 G020200        17
028 G030200         0
028 G040200     84261
028 H000200         0
029  000200 N
030 A000200      0
030 B000200  0.00
030 C000200  0.00
031 A000200      0
031 B000200      0
032  000200      0
033  000200      0
<PAGE>      PAGE  11
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 N
042 A000200   0
042 B000200   0
042 C000200   0
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200      0
044  000200      0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.400
048 A010200        0
048 A020200 0.000
048 B010200        0
048 B020200 0.000
048 C010200        0
048 C020200 0.000
048 D010200        0
048 D020200 0.000
048 E010200        0
048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 Y
053 B000200 Y
053 C000200 N
055 A000200 Y
055 B000200 N
056  000200 Y
<PAGE>      PAGE  12
057  000200 N
062 A000200 Y
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
062 E000200  98.8
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.9
062 M000200   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.3
063 A000200  46
063 B000200  0.0
064 A000200 Y
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
<PAGE>      PAGE  13
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200         0
071 B000200         0
071 C000200         0
071 D000200    0
072 A000200  6
072 B000200     2952
072 C000200       45
072 D000200        0
072 E000200        0
072 F000200      333
072 G000200      166
072 H000200        0
072 I000200        8
072 J000200        8
072 K000200        0
072 L000200        4
072 M000200        2
072 N000200        4
072 O000200        0
072 P000200        0
072 Q000200        1
072 R000200        3
072 S000200        2
072 T000200        0
072 U000200        0
072 V000200        0
072 W000200        3
072 X000200      534
072 Y000200       83
072 Z000200     2546
072AA000200      250
072BB000200        0
072CC010200        0
072CC020200        0
072DD010200     2527
072DD020200       18
072EE000200        0
073 A010200   0.0200
<PAGE>      PAGE  14
073 A020200   0.0200
073 B000200   0.0000
073 C000200   0.0000
074 A000200        0
074 B000200        0
074 C000200   163226
074 D000200        0
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200        0
074 L000200     1007
074 M000200        0
074 N000200   164233
074 O000200        0
074 P000200       11
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200      496
074 S000200        0
074 T000200   163726
074 U010200   162740
074 U020200      963
074 V010200     1.00
074 V020200     1.00
074 W000200   1.0000
074 X000200       28
074 Y000200        0
075 A000200   167376
075 B000200        0
076  000200     0.00
015 A000301 BANKERS TRUST CO.
015 B000301 C
015 C010301 NEW YORK
015 C020301 NY
015 C030301 10005
015 E010301 X
024  000300 Y
025 A000301 DREYFUS CASH MANAGEMENT FUND
025 B000301 13-5673135
025 C000301 D
025 D000301    5420
025 A000302 LEHMAN PRIME VALUE FUND
025 B000302 13-2518466
025 C000302 D
025 D000302    5337
<PAGE>      PAGE  15
025 D000303       0
025 D000304       0
025 D000305       0
025 D000306       0
025 D000307       0
025 D000308       0
028 A010300     15912
028 A020300       354
028 A030300         0
028 A040300      9678
028 B010300     12691
028 B020300       353
028 B030300         0
028 B040300     12938
028 C010300     13441
028 C020300      7022
028 C030300         0
028 C040300      7145
028 D010300     16066
028 D020300       388
028 D030300         0
028 D040300      4660
028 E010300      8768
028 E020300       392
028 E030300         0
028 E040300      6703
028 F010300      7463
028 F020300       375
028 F030300         0
028 F040300     17282
028 G010300     74341
028 G020300      8884
028 G030300         0
028 G040300     58406
028 H000300      1902
029  000300 Y
030 A000300     76
030 B000300  4.00
030 C000300  0.75
031 A000300      0
031 B000300      0
032  000300     76
033  000300      0
037  000300 N
038  000300      0
039  000300 N
040  000300 Y
041  000300 Y
042 A000300   0
042 B000300   0
042 C000300   0
<PAGE>      PAGE  16
042 D000300 100
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300     15
044  000300      0
045  000300 Y
046  000300 N
047  000300 Y
048  000300  0.700
048 A010300        0
048 A020300 0.000
048 B010300        0
048 B020300 0.000
048 C010300        0
048 C020300 0.000
048 D010300        0
048 D020300 0.000
048 E010300        0
048 E020300 0.000
048 F010300        0
048 F020300 0.000
048 G010300        0
048 G020300 0.000
048 H010300        0
048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
048 K020300 0.000
049  000300 N
050  000300 N
051  000300 N
052  000300 N
053 A000300 N
055 A000300 Y
055 B000300 N
056  000300 Y
057  000300 N
062 A000300 N
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
<PAGE>      PAGE  17
062 J000300   0.0
062 K000300   0.0
062 L000300   0.0
062 M000300   0.0
062 N000300   0.0
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
063 A000300   0
063 B000300  0.0
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 Y
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 Y
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 Y
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
<PAGE>      PAGE  18
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300    133654
071 B000300    122581
071 C000300    419351
071 D000300   29
072 A000300  6
072 B000300       20
072 C000300     6847
072 D000300        0
072 E000300        0
072 F000300     1537
072 G000300      439
072 H000300        0
072 I000300       56
072 J000300        9
072 K000300        0
072 L000300        8
072 M000300        2
072 N000300        6
072 O000300        0
072 P000300        0
072 Q000300        2
072 R000300        5
072 S000300        6
072 T000300       15
072 U000300        0
072 V000300        0
072 W000300        4
072 X000300     2089
072 Y000300        0
072 Z000300     4778
072AA000300    37015
072BB000300        0
072CC010300        0
072CC020300     3798
072DD010300     4914
072DD020300      129
072EE000300    15112
073 A010300   0.1600
073 A020300   0.1400
073 B000300   0.4700
073 C000300   0.0000
074 A000300       22
074 B000300        0
074 C000300    10756
<PAGE>      PAGE  19
074 D000300        0
074 E000300        0
074 F000300   444972
074 G000300        0
074 H000300        0
074 I000300        0
074 J000300     2517
074 K000300        0
074 L000300     1224
074 M000300        0
074 N000300   459491
074 O000300     4220
074 P000300       56
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300      105
074 S000300        0
074 T000300   455110
074 U010300    32070
074 U020300      955
074 V010300    13.78
074 V020300    13.71
074 W000300   0.0000
074 X000300     2226
074 Y000300        0
075 A000300        0
075 B000300   441678
076  000300     0.00
015 A000401 BANKERS TRUST
015 B000401 C
015 C010401 NEW YORK
015 C020401 NY
015 C030401 10005
015 E010401 X
024  000400 Y
025 A000401 LEHMAN PRIME VALUE FUND
025 B000401 13-2518466
025 C000401 D
025 D000401    5792
025 A000402 DREYFUS CASH MANAGEMENT FUND
025 B000402 13-5673135
025 C000402 D
025 D000402    5679
025 A000403 SEARS ROEBUCK & CO.
025 B000403 94-1671384
025 C000403 E
025 D000403     757
025 A000404 MERRILL LYNCH & CO., INC.
025 B000404 13-5674085
<PAGE>      PAGE  20
025 C000404 E
025 D000404     456
025 A000405 DEAN WITTER DISCOVER & CO.
025 B000405 94-1671384
025 C000405 E
025 D000405     385
025 D000406       0
025 D000407       0
025 D000408       0
028 A010400     10141
028 A020400       203
028 A030400         0
028 A040400      3185
028 B010400      5880
028 B020400       205
028 B030400         0
028 B040400      6317
028 C010400      5324
028 C020400      1926
028 C030400         0
028 C040400      9890
028 D010400      4437
028 D020400       204
028 D030400         0
028 D040400      2001
028 E010400      5039
028 E020400       209
028 E030400         0
028 E040400      2871
028 F010400      5805
028 F020400       214
028 F030400         0
028 F040400      4752
028 G010400     36626
028 G020400      2961
028 G030400         0
028 G040400     29016
028 H000400      1700
029  000400 Y
030 A000400     68
030 B000400  4.00
030 C000400  0.75
031 A000400      0
031 B000400      0
032  000400     68
033  000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 Y
<PAGE>      PAGE  21
042 A000400   0
042 B000400   0
042 C000400   0
042 D000400 100
042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
043  000400      9
044  000400      0
045  000400 Y
046  000400 N
047  000400 Y
048  000400  0.300
048 A010400        0
048 A020400 0.000
048 B010400        0
048 B020400 0.000
048 C010400        0
048 C020400 0.000
048 D010400        0
048 D020400 0.000
048 E010400        0
048 E020400 0.000
048 F010400        0
048 F020400 0.000
048 G010400        0
048 G020400 0.000
048 H010400        0
048 H020400 0.000
048 I010400        0
048 I020400 0.000
048 J010400        0
048 J020400 0.000
048 K010400        0
048 K020400 0.000
049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
055 A000400 N
055 B000400 N
056  000400 Y
057  000400 N
062 A000400 N
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
<PAGE>      PAGE  22
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400   0.0
062 N000400   0.0
062 O000400   0.0
062 P000400   0.0
062 Q000400   0.0
062 R000400   0.0
063 A000400   0
063 B000400  0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 Y
066 F000400 N
066 G000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 Y
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 Y
070 F020400 Y
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 N
<PAGE>      PAGE  23
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400      4688
071 B000400      1845
071 C000400    195176
071 D000400    1
072 A000400  6
072 B000400       16
072 C000400     2416
072 D000400        0
072 E000400        0
072 F000400      307
072 G000400      204
072 H000400        0
072 I000400       24
072 J000400       12
072 K000400        0
072 L000400        6
072 M000400        2
072 N000400        3
072 O000400        0
072 P000400        0
072 Q000400        6
072 R000400        4
072 S000400        2
072 T000400        9
072 U000400        0
072 V000400        0
072 W000400        0
072 X000400      579
072 Y000400      102
072 Z000400     1955
072AA000400     1135
072BB000400        0
072CC010400    16238
072CC020400        0
072DD010400     1818
072DD020400       64
072EE000400     2647
073 A010400   0.1200
073 A020400   0.1100
<PAGE>      PAGE  24
073 B000400   0.1700
073 C000400   0.0000
074 A000400       16
074 B000400        0
074 C000400    11955
074 D000400        0
074 E000400        0
074 F000400   203451
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400       92
074 K000400        0
074 L000400      409
074 M000400        0
074 N000400   215921
074 O000400        0
074 P000400       11
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400       51
074 S000400        0
074 T000400   215859
074 U010400    15380
074 U020400      628
074 V010400    13.48
074 V020400    13.56
074 W000400   0.0000
074 X000400     1524
074 Y000400        0
075 A000400        0
075 B000400   205823
076  000400     0.00
015 A000501 BANKERS TRUST CO.
015 B000501 C
015 C010501 NEW YORK
015 C020501 NY
015 C030501 10005
015 E040501 X
024  000500 Y
025 A000501 DREYFUS CASH MANAGEMENT FUND
025 B000501 13-5673135
025 C000501 D
025 D000501    4408
025 A000502 LEHMAN PRIME VALUE FUND
025 B000502 13-2518466
025 C000502 D
025 D000502    3871
025 D000503       0
<PAGE>      PAGE  25
025 D000504       0
025 D000505       0
025 D000506       0
025 D000507       0
025 D000508       0
028 A010500      9089
028 A020500        22
028 A030500         0
028 A040500      5867
028 B010500     11866
028 B020500         0
028 B030500         0
028 B040500      4012
028 C010500      6487
028 C020500         0
028 C030500         0
028 C040500      2580
028 D010500      4930
028 D020500         0
028 D030500         0
028 D040500      6457
028 E010500      7459
028 E020500         0
028 E030500         0
028 E040500      3683
028 F010500      8621
028 F020500         0
028 F030500         0
028 F040500      2718
028 G010500     48452
028 G020500        22
028 G030500         0
028 G040500     25317
028 H000500      1244
029  000500 Y
030 A000500     50
030 B000500  4.00
030 C000500  0.75
031 A000500      0
031 B000500      0
032  000500     50
033  000500      0
037  000500 N
038  000500      0
039  000500 N
040  000500 Y
041  000500 Y
042 A000500   0
042 B000500   0
042 C000500   0
042 D000500 100
<PAGE>      PAGE  26
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500     10
044  000500      0
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.750
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
049  000500 N
050  000500 N
051  000500 N
052  000500 N
053 A000500 N
055 A000500 N
055 B000500 N
056  000500 Y
057  000500 N
062 A000500 N
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
<PAGE>      PAGE  27
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
063 A000500   0
063 B000500  0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
067  000500 N
068 A000500 N
068 B000500 Y
069  000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
<PAGE>      PAGE  28
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500     44736
071 B000500     13357
071 C000500    532134
071 D000500    3
072 A000500  6
072 B000500       22
072 C000500     4327
072 D000500        0
072 E000500        0
072 F000500     1164
072 G000500      310
072 H000500        0
072 I000500       34
072 J000500      169
072 K000500        0
072 L000500        7
072 M000500        2
072 N000500        9
072 O000500        0
072 P000500        0
072 Q000500       50
072 R000500        5
072 S000500        3
072 T000500       10
072 U000500        0
072 V000500        0
072 W000500        4
072 X000500     1767
072 Y000500        0
072 Z000500     2582
072AA000500     2355
072BB000500        0
072CC010500     9296
072CC020500        0
072DD010500        0
072DD020500        0
072EE000500        0
073 A010500   0.0000
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500        0
074 B000500        0
074 C000500     8280
074 D000500        0
<PAGE>      PAGE  29
074 E000500      791
074 F000500   320473
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500        0
074 K000500        0
074 L000500     2194
074 M000500        0
074 N000500   331738
074 O000500        0
074 P000500       63
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500      191
074 S000500        0
074 T000500   331484
074 U010500    21766
074 U020500      580
074 V010500    14.84
074 V020500    14.76
074 W000500   0.0000
074 X000500     2056
074 Y000500        0
075 A000500        0
075 B000500   312104
076  000500     0.00
015 A000601 BANKERS TRUST CO.
015 B000601 C
015 C010601 NEW YORK
015 C020601 NY
015 C030601 10005
015 E010601 X
024  000600 Y
025 A000601 DREYFUS CASH MANAGEMENT FUND
025 B000601 13-5673135
025 C000601 D
025 D000601   13880
025 A000602 LEHMAN PRIME VALUE FUND
025 B000602 13-2518466
025 C000602 D
025 D000602   13625
025 A000603 MCDONALD & CO. INVESTMENTS
025 C000603 E
025 D000603     452
025 A000604 STIFEL FINANCIAL CORP.
025 C000604 E
025 D000604      84
025 A000605 RODMAN & RENSHAW CAPITAL GROUP, INC.
<PAGE>      PAGE  30
025 C000605 E
025 D000605      18
025 D000606       0
025 D000607       0
025 D000608       0
028 A010600     17810
028 A020600       141
028 A030600         0
028 A040600      7878
028 B010600     14849
028 B020600       123
028 B030600         0
028 B040600      9930
028 C010600      8289
028 C020600      1989
028 C030600         0
028 C040600      9526
028 D010600      8143
028 D020600       160
028 D030600         0
028 D040600      9333
028 E010600      7209
028 E020600       156
028 E030600         0
028 E040600     19192
028 F010600      8441
028 F020600       214
028 F030600         0
028 F040600      7099
028 G010600     64741
028 G020600      2783
028 G030600         0
028 G040600     62958
028 H000600      1916
029  000600 Y
030 A000600     77
030 B000600  4.00
030 C000600  0.75
031 A000600      0
031 B000600      0
032  000600     77
033  000600      0
037  000600 N
038  000600      0
039  000600 N
040  000600 Y
041  000600 Y
042 A000600   0
042 B000600   0
042 C000600   0
042 D000600 100
<PAGE>      PAGE  31
042 E000600   0
042 F000600   0
042 G000600   0
042 H000600   0
043  000600     15
044  000600      0
045  000600 Y
046  000600 N
047  000600 Y
048  000600  0.700
048 A010600        0
048 A020600 0.000
048 B010600        0
048 B020600 0.000
048 C010600        0
048 C020600 0.000
048 D010600        0
048 D020600 0.000
048 E010600        0
048 E020600 0.000
048 F010600        0
048 F020600 0.000
048 G010600        0
048 G020600 0.000
048 H010600        0
048 H020600 0.000
048 I010600        0
048 I020600 0.000
048 J010600        0
048 J020600 0.000
048 K010600        0
048 K020600 0.000
049  000600 N
050  000600 N
051  000600 N
052  000600 N
053 A000600 N
055 A000600 Y
055 B000600 N
056  000600 Y
057  000600 N
062 A000600 N
062 B000600   0.0
062 C000600   0.0
062 D000600   0.0
062 E000600   0.0
062 F000600   0.0
062 G000600   0.0
062 H000600   0.0
062 I000600   0.0
062 J000600   0.0
<PAGE>      PAGE  32
062 K000600   0.0
062 L000600   0.0
062 M000600   0.0
062 N000600   0.0
062 O000600   0.0
062 P000600   0.0
062 Q000600   0.0
062 R000600   0.0
063 A000600   0
063 B000600  0.0
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067  000600 N
068 A000600 N
068 B000600 N
069  000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 Y
070 F020600 Y
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
<PAGE>      PAGE  33
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600     21658
071 B000600     34547
071 C000600    469502
071 D000600    5
072 A000600  6
072 B000600        2
072 C000600     4070
072 D000600        0
072 E000600        0
072 F000600     1739
072 G000600      497
072 H000600        0
072 I000600       49
072 J000600       59
072 K000600        0
072 L000600        8
072 M000600        2
072 N000600        5
072 O000600        0
072 P000600        0
072 Q000600        9
072 R000600        5
072 S000600        6
072 T000600       15
072 U000600        0
072 V000600        0
072 W000600        7
072 X000600     2401
072 Y000600        0
072 Z000600     1671
072AA000600    12724
072BB000600        0
072CC010600    46376
072CC020600        0
072DD010600     1631
072DD020600       31
072EE000600     3610
073 A010600   0.0500
073 A020600   0.0400
073 B000600   0.1000
073 C000600   0.0000
074 A000600       17
074 B000600        0
074 C000600    28613
074 D000600        0
<PAGE>      PAGE  34
074 E000600        0
074 F000600   490996
074 G000600        0
074 H000600        0
074 I000600        0
074 J000600      600
074 K000600        0
074 L000600     1010
074 M000600        0
074 N000600   521236
074 O000600        0
074 P000600       86
074 Q000600        0
074 R010600        0
074 R020600        0
074 R030600        0
074 R040600       58
074 S000600        0
074 T000600   521092
074 U010600    32934
074 U020600      867
074 V010600    15.42
074 V020600    15.39
074 W000600   0.0000
074 X000600     2597
074 Y000600        0
075 A000600        0
075 B000600   499658
076  000600     0.00
015 A000701 BANKERS TRUST CO.
015 B000701 C
015 C010701 NEW YORK
015 C020701 NY
015 C030701 10005
015 E010701 X
024  000700 Y
025 A000701 MORGAN STANLEY GROUP, INC.
025 B000701 13-2655998
025 C000701 D
025 D000701    5903
025 A000702 SEARS ROEBUCK & CO., DEBENTURE
025 B000702 94-1671384
025 C000702 D
025 D000702    5693
025 A000703 LEHMAN PRIME VALUE FUND
025 B000703 13-2518466
025 C000703 D
025 D000703    3745
025 A000704 DREYFUS CASH MANAGEMENT FUND
025 B000704 13-5673135
025 C000704 D
<PAGE>      PAGE  35
025 D000704     247
025 D000705       0
025 D000706       0
025 D000707       0
025 D000708       0
028 A010700      6684
028 A020700       895
028 A030700         0
028 A040700     13135
028 B010700      9848
028 B020700       878
028 B030700         0
028 B040700     12809
028 C010700      6549
028 C020700       892
028 C030700         0
028 C040700     16851
028 D010700      8865
028 D020700        16
028 D030700         0
028 D040700     11552
028 E010700      5673
028 E020700       951
028 E030700         0
028 E040700      5496
028 F010700      3560
028 F020700       947
028 F030700         0
028 F040700     10773
028 G010700     41176
028 G020700      4579
028 G030700         0
028 G040700     70616
028 H000700       138
029  000700 Y
030 A000700      6
030 B000700  4.00
030 C000700  0.75
031 A000700      0
031 B000700      0
032  000700      6
033  000700      0
037  000700 N
038  000700      0
039  000700 N
040  000700 Y
041  000700 Y
042 A000700   0
042 B000700   0
042 C000700   0
042 D000700 100
<PAGE>      PAGE  36
042 E000700   0
042 F000700   0
042 G000700   0
042 H000700   0
043  000700      2
044  000700      0
045  000700 Y
046  000700 N
047  000700 Y
048  000700  0.500
048 A010700        0
048 A020700 0.000
048 B010700        0
048 B020700 0.000
048 C010700        0
048 C020700 0.000
048 D010700        0
048 D020700 0.000
048 E010700        0
048 E020700 0.000
048 F010700        0
048 F020700 0.000
048 G010700        0
048 G020700 0.000
048 H010700        0
048 H020700 0.000
048 I010700        0
048 I020700 0.000
048 J010700        0
048 J020700 0.000
048 K010700        0
048 K020700 0.000
049  000700 N
050  000700 N
051  000700 N
052  000700 N
053 A000700 N
055 A000700 N
055 B000700 N
056  000700 Y
057  000700 N
062 A000700 Y
062 B000700   0.0
062 C000700   0.0
062 D000700   0.0
062 E000700   0.0
062 F000700   0.0
062 G000700   0.0
062 H000700   0.0
062 I000700   0.0
062 J000700   0.0
<PAGE>      PAGE  37
062 K000700   0.0
062 L000700   5.3
062 M000700  56.6
062 N000700   1.8
062 O000700   0.0
062 P000700  34.9
062 Q000700   0.0
062 R000700   1.4
063 A000700   0
063 B000700  2.5
064 A000700 N
064 B000700 N
066 A000700 N
067  000700 N
068 A000700 N
068 B000700 N
069  000700 N
070 A010700 Y
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 Y
070 K010700 Y
070 K020700 Y
070 L010700 Y
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
<PAGE>      PAGE  38
070 R010700 Y
070 R020700 N
071 A000700     46584
071 B000700     72582
071 C000700    286664
071 D000700   16
072 A000700  6
072 B000700     9866
072 C000700      129
072 D000700        0
072 E000700        0
072 F000700      735
072 G000700      294
072 H000700        0
072 I000700        5
072 J000700        5
072 K000700        0
072 L000700        1
072 M000700        2
072 N000700        2
072 O000700        0
072 P000700        0
072 Q000700        2
072 R000700        2
072 S000700        0
072 T000700        1
072 U000700        0
072 V000700        0
072 W000700        0
072 X000700     1049
072 Y000700        0
072 Z000700     8946
072AA000700        0
072BB000700      298
072CC010700        0
072CC020700     6600
072DD010700     8469
072DD020700       44
072EE000700        0
073 A010700   0.2900
073 A020700   0.2800
073 B000700   0.0000
073 C000700   0.0000
074 A000700        0
074 B000700        0
074 C000700     3992
074 D000700   273013
074 E000700        0
074 F000700        0
074 G000700        0
074 H000700        0
<PAGE>      PAGE  39
074 I000700        0
074 J000700       97
074 K000700        0
074 L000700     4051
074 M000700        0
074 N000700   281153
074 O000700        0
074 P000700       27
074 Q000700        0
074 R010700        0
074 R020700        0
074 R030700        0
074 R040700      138
074 S000700        0
074 T000700   280988
074 U010700    28675
074 U020700      158
074 V010700     9.75
074 V020700     9.74
074 W000700   0.0000
074 X000700      269
074 Y000700        0
075 A000700        0
075 B000700   295415
076  000700     0.00
015 A000801 BANKERS TRUST CO.
015 B000801 C
015 C010801 NEW YORK
015 C020801 NY
015 C030801 10005
015 E010801 X
024  000800 Y
025 A000801 DREYFUS TAX EXEMPT CASH FUND
025 B000801 13-5673135
025 C000801 D
025 D000801    4514
025 D000802       0
025 D000803       0
025 D000804       0
025 D000805       0
025 D000806       0
025 D000807       0
025 D000808       0
028 A010800      2423
028 A020800         9
028 A030800         0
028 A040800      6308
028 B010800     24429
028 B020800        10
028 B030800         0
028 B040800      4187
<PAGE>      PAGE  40
028 C010800      6273
028 C020800        10
028 C030800         0
028 C040800      5361
028 D010800      3334
028 D020800        13
028 D030800         0
028 D040800      8246
028 E010800      4307
028 E020800        11
028 E030800         0
028 E040800      4499
028 F010800      3503
028 F020800        11
028 F030800         0
028 F040800      5155
028 G010800     44269
028 G020800        64
028 G030800         0
028 G040800     33756
028 H000800       391
029  000800 Y
030 A000800     16
030 B000800  4.00
030 C000800  0.75
031 A000800      0
031 B000800      0
032  000800     16
033  000800      0
037  000800 N
038  000800      0
039  000800 N
040  000800 Y
041  000800 Y
042 A000800   0
042 B000800   0
042 C000800   0
042 D000800 100
042 E000800   0
042 F000800   0
042 G000800   0
042 H000800   0
043  000800      5
044  000800      0
045  000800 Y
046  000800 N
047  000800 Y
048  000800  0.500
048 A010800        0
048 A020800 0.000
048 B010800        0
<PAGE>      PAGE  41
048 B020800 0.000
048 C010800        0
048 C020800 0.000
048 D010800        0
048 D020800 0.000
048 E010800        0
048 E020800 0.000
048 F010800        0
048 F020800 0.000
048 G010800        0
048 G020800 0.000
048 H010800        0
048 H020800 0.000
048 I010800        0
048 I020800 0.000
048 J010800        0
048 J020800 0.000
048 K010800        0
048 K020800 0.000
049  000800 N
050  000800 N
051  000800 N
052  000800 N
053 A000800 N
055 A000800 N
055 B000800 N
056  000800 Y
057  000800 N
062 A000800 Y
062 B000800   0.0
062 C000800   0.0
062 D000800   0.0
062 E000800   0.0
062 F000800   0.0
062 G000800   0.0
062 H000800   0.0
062 I000800   0.0
062 J000800   0.0
062 K000800   0.0
062 L000800   1.6
062 M000800   0.0
062 N000800   0.0
062 O000800  96.7
062 P000800   0.0
062 Q000800   0.0
062 R000800   1.7
063 A000800   0
063 B000800  8.5
064 A000800 Y
064 B000800 N
066 A000800 N
<PAGE>      PAGE  42
067  000800 N
068 A000800 N
068 B000800 N
069  000800 N
070 A010800 Y
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800     96143
071 B000800     89287
071 C000800    284880
071 D000800   31
072 A000800  6
072 B000800     7337
072 C000800       65
072 D000800        0
072 E000800        0
072 F000800      727
072 G000800      291
<PAGE>      PAGE  43
072 H000800        0
072 I000800        8
072 J000800        7
072 K000800        0
072 L000800        4
072 M000800        2
072 N000800        4
072 O000800        0
072 P000800        0
072 Q000800        7
072 R000800        5
072 S000800        5
072 T000800        5
072 U000800        0
072 V000800        0
072 W000800        4
072 X000800     1069
072 Y000800        0
072 Z000800     6333
072AA000800      485
072BB000800        0
072CC010800        0
072CC020800     7982
072DD010800     6390
072DD020800       78
072EE000800        0
073 A010800   0.2300
073 A020800   0.2200
073 B000800   0.0000
073 C000800   0.0000
074 A000800      293
074 B000800        0
074 C000800     4514
074 D000800   281008
074 E000800        0
074 F000800        0
074 G000800        0
074 H000800        0
074 I000800        0
074 J000800      432
074 K000800        6
074 L000800     4374
074 M000800        0
074 N000800   290627
074 O000800        0
074 P000800       16
074 Q000800        0
074 R010800        0
074 R020800        0
074 R030800        0
074 R040800      126
<PAGE>      PAGE  44
074 S000800        0
074 T000800   290485
074 U010800    27984
074 U020800      333
074 V010800    10.26
074 V020800    10.26
074 W000800   0.0000
074 X000800       99
074 Y000800        0
075 A000800        0
075 B000800   292610
076  000800     0.00
015 A000901 BANKERS TRUST CO.
015 B000901 C
015 C010901 NEW YORK
015 C020901 NY
015 C030901 10005
015 E010901 X
025 A000901 DREYFUS CASH MANAGEMENT FUND
025 B000901 13-5673135
025 C000901 D
025 D000901   29815
025 A000902 SMITH BARNEY HOLDINGS, INC.
025 B000902 13-1912900
025 C000902 D
025 D000902    7706
025 A000903 LEHMAN PRIME VALUE FUND
025 B000903 13-2518466
025 C000903 D
025 D000903    6628
025 D000904       0
025 D000905       0
025 D000906       0
025 D000907       0
025 D000908       0
028 A010900     19316
028 A020900      2431
028 A030900         0
028 A040900     18801
028 B010900     33716
028 B020900      2529
028 B030900         0
028 B040900     13045
028 C010900     23341
028 C020900      2572
028 C030900         0
028 C040900     22054
028 D010900     18507
028 D020900      2557
028 D030900         0
028 D040900     75348
<PAGE>      PAGE  45
028 E010900     18090
028 E020900      2621
028 E030900         0
028 E040900     10572
028 F010900     15018
028 F020900      2634
028 F030900         0
028 F040900     20878
028 G010900    127988
028 G020900     15344
028 G030900         0
028 G040900    160698
028 H000900      1125
029  000900 Y
030 A000900     45
030 B000900  4.00
030 C000900  0.75
031 A000900      0
031 B000900      0
032  000900     45
033  000900      0
037  000900 N
038  000900      0
039  000900 N
040  000900 Y
041  000900 Y
042 A000900   0
042 B000900   0
042 C000900   0
042 D000900 100
042 E000900   0
042 F000900   0
042 G000900   0
042 H000900   0
043  000900      9
044  000900      0
045  000900 Y
046  000900 N
047  000900 Y
048  000900  0.550
048 A010900        0
048 A020900 0.000
048 B010900        0
048 B020900 0.000
048 C010900        0
048 C020900 0.000
048 D010900        0
048 D020900 0.000
048 E010900        0
048 E020900 0.000
048 F010900        0
<PAGE>      PAGE  46
048 F020900 0.000
048 G010900        0
048 G020900 0.000
048 H010900        0
048 H020900 0.000
048 I010900        0
048 I020900 0.000
048 J010900        0
048 J020900 0.000
048 K010900        0
048 K020900 0.000
049  000900 N
050  000900 N
051  000900 N
052  000900 N
053 A000900 N
055 A000900 Y
055 B000900 N
056  000900 Y
057  000900 N
062 A000900 Y
062 B000900   0.0
062 C000900   0.0
062 D000900   0.0
062 E000900   0.0
062 F000900   0.0
062 G000900   0.0
062 H000900   0.0
062 I000900   0.0
062 J000900   0.0
062 K000900   0.0
062 L000900   4.5
062 M000900  73.7
062 N000900   3.5
062 O000900   0.0
062 P000900  16.6
062 Q000900   0.0
062 R000900   1.7
063 A000900   0
063 B000900  5.8
064 A000900 N
064 B000900 N
066 A000900 N
067  000900 N
068 A000900 N
068 B000900 N
069  000900 N
070 A010900 Y
070 A020900 Y
070 B010900 N
070 B020900 N
<PAGE>      PAGE  47
070 C010900 Y
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 Y
070 L020900 Y
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900    632701
071 B000900    644395
071 C000900    779037
071 D000900   81
072 A000900  6
072 B000900    29017
072 C000900      533
072 D000900        0
072 E000900        0
072 F000900     2296
072 G000900      835
072 H000900        0
072 I000900       13
072 J000900       10
072 K000900        0
072 L000900        8
072 M000900        2
072 N000900        2
072 O000900        0
<PAGE>      PAGE  48
072 P000900        0
072 Q000900        1
072 R000900        4
072 S000900        0
072 T000900        9
072 U000900        0
072 V000900        0
072 W000900        0
072 X000900     3180
072 Y000900        0
072 Z000900    26370
072AA000900        0
072BB000900     3478
072CC010900        0
072CC020900    33966
072DD010900    28780
072DD020900      241
072EE000900        0
073 A010900   0.3400
073 A020900   0.3300
073 B000900   0.0000
073 C000900   0.0000
074 A000900     1020
074 B000900        0
074 C000900    36443
074 D000900   754486
074 E000900        0
074 F000900        0
074 G000900        0
074 H000900        0
074 I000900        0
074 J000900      378
074 K000900        0
074 L000900    12012
074 M000900        0
074 N000900   804339
074 O000900        0
074 P000900       69
074 Q000900        0
074 R010900        0
074 R020900        0
074 R030900        0
074 R040900       69
074 S000900        0
074 T000900   804201
074 U010900    82475
074 U020900      767
074 V010900     9.66
074 V020900     9.68
074 W000900   0.0000
074 X000900      848
<PAGE>      PAGE  49
074 Y000900        0
075 A000900        0
075 B000900   839522
076  000900     0.00
015 A001001 BANKERS TRUST CO.
015 B001001 C
015 C011001 NEW YORK
015 C021001 NY
015 C031001 10005
015 E011001 X
024  001000 Y
025 A001001 DREYFUS TAX EXEMPT CASH FUND
025 B001001 13-5673135
025 C001001 D
025 D001001    2317
025 D001002       0
025 D001003       0
025 D001004       0
025 D001005       0
025 D001006       0
025 D001007       0
025 D001008       0
028 A011000      1735
028 A021000         6
028 A031000         0
028 A041000     10481
028 B011000      3277
028 B021000         6
028 B031000         0
028 B041000      4274
028 C011000      1939
028 C021000         7
028 C031000         0
028 C041000      4358
028 D011000      3600
028 D021000         8
028 D031000         0
028 D041000      3305
028 E011000      4518
028 E021000         6
028 E031000         0
028 E041000      3144
028 F011000      2123
028 F021000         7
028 F031000         0
028 F041000      4857
028 G011000     17192
028 G021000        40
028 G031000         0
028 G041000     30419
028 H001000       567
<PAGE>      PAGE  50
029  001000 Y
030 A001000     23
030 B001000  4.00
030 C001000  0.75
031 A001000      0
031 B001000      0
032  001000     23
033  001000      0
037  001000 N
038  001000      0
039  001000 N
040  001000 Y
041  001000 Y
042 A001000   0
042 B001000   0
042 C001000   0
042 D001000 100
042 E001000   0
042 F001000   0
042 G001000   0
042 H001000   0
043  001000      2
044  001000      0
045  001000 Y
046  001000 N
047  001000 Y
048  001000  0.450
048 A011000        0
048 A021000 0.000
048 B011000        0
048 B021000 0.000
048 C011000        0
048 C021000 0.000
048 D011000        0
048 D021000 0.000
048 E011000        0
048 E021000 0.000
048 F011000        0
048 F021000 0.000
048 G011000        0
048 G021000 0.000
048 H011000        0
048 H021000 0.000
048 I011000        0
048 I021000 0.000
048 J011000        0
048 J021000 0.000
048 K011000        0
048 K021000 0.000
049  001000 N
050  001000 N
<PAGE>      PAGE  51
051  001000 N
052  001000 N
053 A001000 N
055 A001000 N
055 B001000 N
056  001000 Y
057  001000 N
062 A001000 Y
062 B001000   0.0
062 C001000   0.0
062 D001000   0.0
062 E001000   0.0
062 F001000   0.0
062 G001000   0.0
062 H001000   0.0
062 I001000   0.0
062 J001000   0.0
062 K001000   0.0
062 L001000   1.3
062 M001000   0.0
062 N001000   0.0
062 O001000  97.5
062 P001000   0.0
062 Q001000   0.0
062 R001000   1.2
063 A001000   0
063 B001000  3.8
064 A001000 Y
064 B001000 N
066 A001000 N
067  001000 N
068 A001000 N
068 B001000 N
069  001000 N
070 A011000 Y
070 A021000 N
070 B011000 N
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 Y
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
<PAGE>      PAGE  52
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 Y
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 Y
070 P021000 Y
070 Q011000 N
070 Q021000 N
070 R011000 Y
070 R021000 N
071 A001000     33965
071 B001000     48217
071 C001000    163377
071 D001000   21
072 A001000  6
072 B001000     3870
072 C001000       65
072 D001000        0
072 E001000        0
072 F001000      395
072 G001000      175
072 H001000        0
072 I001000        8
072 J001000        6
072 K001000        0
072 L001000        2
072 M001000        2
072 N001000        8
072 O001000        0
072 P001000        0
072 Q001000        8
072 R001000        3
072 S001000        3
072 T001000        2
072 U001000        0
072 V001000        0
072 W001000        1
072 X001000      613
072 Y001000        0
072 Z001000     3322
072AA001000       52
072BB001000        0
<PAGE>      PAGE  53
072CC011000        0
072CC021000     2164
072DD011000     3171
072DD021000       38
072EE001000        0
073 A011000   0.1800
073 A021000   0.1800
073 B001000   0.0000
073 C001000   0.0000
074 A001000        2
074 B001000        0
074 C001000     2317
074 D001000   167847
074 E001000        0
074 F001000        0
074 G001000        0
074 H001000        0
074 I001000        0
074 J001000       88
074 K001000        0
074 L001000     2400
074 M001000        0
074 N001000   172654
074 O001000        0
074 P001000       12
074 Q001000        0
074 R011000        0
074 R021000        0
074 R031000        0
074 R041000      462
074 S001000        0
074 T001000   172180
074 U011000    16982
074 U021000      229
074 V011000    10.00
074 V021000     9.99
074 W001000   0.0000
074 X001000       32
074 Y001000        0
075 A001000        0
075 B001000   176353
076  001000     0.00
015 A001101 BANKERS TRUST CO.
015 B001101 C
015 C011101 NEW YORK
015 C021101 NY
015 C031101 10005
015 E011101 X
024  001100 Y
025 A001101 DREYFUS TAX EXEMPT CASH FUND
025 B001101 13-5673135
<PAGE>      PAGE  54
025 C001101 D
025 D001101    1981
025 D001102       0
025 D001103       0
025 D001104       0
025 D001105       0
025 D001106       0
025 D001107       0
025 D001108       0
028 A011100       608
028 A021100         0
028 A031100         0
028 A041100      4439
028 B011100       935
028 B021100         0
028 B031100         0
028 B041100       873
028 C011100       634
028 C021100         0
028 C031100         0
028 C041100      1448
028 D011100       958
028 D021100         1
028 D031100         0
028 D041100      1401
028 E011100       371
028 E021100         1
028 E031100         0
028 E041100      1078
028 F011100       828
028 F021100         0
028 F031100         0
028 F041100      1861
028 G011100      4334
028 G021100         2
028 G031100         0
028 G041100     11100
028 H001100         0
029  001100 Y
030 A001100      0
030 B001100  4.00
030 C001100  0.75
031 A001100      0
031 B001100      0
032  001100      0
033  001100      0
037  001100 N
038  001100      0
039  001100 N
040  001100 Y
041  001100 Y
<PAGE>      PAGE  55
042 A001100   0
042 B001100   0
042 C001100   0
042 D001100 100
042 E001100   0
042 F001100   0
042 G001100   0
042 H001100   0
043  001100      0
044  001100      0
045  001100 Y
046  001100 N
047  001100 Y
048  001100  0.450
048 A011100        0
048 A021100 0.000
048 B011100        0
048 B021100 0.000
048 C011100        0
048 C021100 0.000
048 D011100        0
048 D021100 0.000
048 E011100        0
048 E021100 0.000
048 F011100        0
048 F021100 0.000
048 G011100        0
048 G021100 0.000
048 H011100        0
048 H021100 0.000
048 I011100        0
048 I021100 0.000
048 J011100        0
048 J021100 0.000
048 K011100        0
048 K021100 0.000
049  001100 N
050  001100 N
051  001100 N
052  001100 N
053 A001100 N
055 A001100 Y
055 B001100 N
056  001100 Y
057  001100 N
062 A001100 Y
062 B001100   0.0
062 C001100   0.0
062 D001100   0.0
062 E001100   0.0
062 F001100   0.0
<PAGE>      PAGE  56
062 G001100   0.0
062 H001100   0.0
062 I001100   0.0
062 J001100   0.0
062 K001100   0.0
062 L001100   4.1
062 M001100   0.0
062 N001100   0.0
062 O001100  94.3
062 P001100   0.0
062 Q001100   0.0
062 R001100   1.6
063 A001100   0
063 B001100  3.7
064 A001100 Y
064 B001100 N
066 A001100 N
067  001100 N
068 A001100 N
068 B001100 N
069  001100 N
070 A011100 Y
070 A021100 N
070 B011100 N
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 N
070 M011100 N
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
<PAGE>      PAGE  57
070 P011100 Y
070 P021100 Y
070 Q011100 N
070 Q021100 N
070 R011100 Y
070 R021100 N
071 A001100     10110
071 B001100     18416
071 C001100     48581
071 D001100   21
072 A001100  6
072 B001100     1138
072 C001100       14
072 D001100        0
072 E001100        0
072 F001100      114
072 G001100       51
072 H001100        0
072 I001100        6
072 J001100        4
072 K001100        0
072 L001100        2
072 M001100        2
072 N001100        3
072 O001100        0
072 P001100        0
072 Q001100        2
072 R001100        3
072 S001100        1
072 T001100        0
072 U001100        0
072 V001100        0
072 W001100        0
072 X001100      190
072 Y001100        0
072 Z001100      962
072AA001100       67
072BB001100        0
072CC011100        0
072CC021100      645
072DD011100      950
072DD021100        1
072EE001100        0
073 A011100   0.1900
073 A021100   0.1900
073 B001100   0.0000
073 C001100   0.0000
074 A001100     1024
074 B001100        0
074 C001100     1981
074 D001100    45336
<PAGE>      PAGE  58
074 E001100        0
074 F001100        0
074 G001100        0
074 H001100        0
074 I001100        0
074 J001100       27
074 K001100        7
074 L001100      725
074 M001100        0
074 N001100    49100
074 O001100     1000
074 P001100        2
074 Q001100        0
074 R011100        0
074 R021100        0
074 R031100        0
074 R041100       27
074 S001100        0
074 T001100    48071
074 U011100     4752
074 U021100        5
074 V011100    10.10
074 V021100    10.13
074 W001100   0.0000
074 X001100        6
074 Y001100        0
075 A001100        0
075 B001100    50784
076  001100     0.00
015 A001201 BANKERS TRUST CO.
015 B001201 C
015 C011201 NEW YORK
015 C021201 NY
015 C031201 10005
015 E011201 X
024  001200 Y
025 A001201 DREYFUS CASH MANAGEMENT FUND
025 B001201 13-5673135
025 C001201 D
025 D001201    2421
025 D001202       0
025 D001203       0
025 D001204       0
025 D001205       0
025 D001206       0
025 D001207       0
025 D001208       0
028 A011200      4777
028 A021200       121
028 A031200         0
028 A041200      1797
<PAGE>      PAGE  59
028 B011200      7942
028 B021200       129
028 B031200         0
028 B041200      2386
028 C011200     12020
028 C021200       134
028 C031200         0
028 C041200      1985
028 D011200     75603
028 D021200       215
028 D031200         0
028 D041200      3143
028 E011200     10993
028 E021200       232
028 E031200         0
028 E041200      2589
028 F011200      7822
028 F021200       240
028 F031200         0
028 F041200      2519
028 G011200    119157
028 G021200      1071
028 G031200         0
028 G041200     14419
028 H001200       265
029  001200 Y
030 A001200     10
030 B001200  4.00
030 C001200  0.75
031 A001200      0
031 B001200      0
032  001200     11
033  001200      0
037  001200 N
038  001200      0
039  001200 N
040  001200 Y
041  001200 Y
042 A001200   0
042 B001200   0
042 C001200   0
042 D001200 100
042 E001200   0
042 F001200   0
042 G001200   0
042 H001200   0
043  001200      3
044  001200      0
045  001200 Y
046  001200 N
047  001200 Y
<PAGE>      PAGE  60
048  001200  0.600
048 A011200        0
048 A021200 0.000
048 B011200        0
048 B021200 0.000
048 C011200        0
048 C021200 0.000
048 D011200        0
048 D021200 0.000
048 E011200        0
048 E021200 0.000
048 F011200        0
048 F021200 0.000
048 G011200        0
048 G021200 0.000
048 H011200        0
048 H021200 0.000
048 I011200        0
048 I021200 0.000
048 J011200        0
048 J021200 0.000
048 K011200        0
048 K021200 0.000
049  001200 N
050  001200 N
051  001200 N
052  001200 N
053 A001200 N
055 A001200 Y
055 B001200 N
056  001200 Y
057  001200 N
062 A001200 Y
062 B001200   0.0
062 C001200   0.0
062 D001200   0.0
062 E001200   0.0
062 F001200   0.0
062 G001200   0.0
062 H001200   0.0
062 I001200   0.0
062 J001200   0.0
062 K001200   0.0
062 L001200   1.1
062 M001200  63.7
062 N001200   3.4
062 O001200   0.9
062 P001200  29.0
062 Q001200   0.0
062 R001200   1.9
063 A001200   0
<PAGE>      PAGE  61
063 B001200 13.9
064 A001200 N
064 B001200 N
066 A001200 N
067  001200 N
068 A001200 N
068 B001200 N
069  001200 N
070 A011200 Y
070 A021200 N
070 B011200 N
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 Y
070 E021200 N
070 F011200 N
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 Y
070 L011200 Y
070 L021200 Y
070 M011200 N
070 M021200 N
070 N011200 Y
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 Y
070 Q011200 N
070 Q021200 N
070 R011200 Y
070 R021200 N
071 A001200    190607
071 B001200     86826
071 C001200    162589
071 D001200   53
072 A001200  6
072 B001200     6093
072 C001200      104
<PAGE>      PAGE  62
072 D001200        0
072 E001200        0
072 F001200      499
072 G001200      166
072 H001200        0
072 I001200        8
072 J001200        4
072 K001200        0
072 L001200        1
072 M001200        1
072 N001200        3
072 O001200        0
072 P001200        0
072 Q001200        1
072 R001200        3
072 S001200        2
072 T001200        3
072 U001200        1
072 V001200        0
072 W001200        2
072 X001200      694
072 Y001200        0
072 Z001200     5503
072AA001200      853
072BB001200        0
072CC011200        0
072CC021200    10723
072DD011200     6169
072DD021200       72
072EE001200        0
073 A011200   0.3600
073 A021200   0.3500
073 B001200   0.0000
073 C001200   0.0000
074 A001200       90
074 B001200        0
074 C001200     2421
074 D001200   216549
074 E001200        0
074 F001200        0
074 G001200        0
074 H001200        0
074 I001200        0
074 J001200      215
074 K001200        0
074 L001200     4040
074 M001200        7
074 N001200   223322
074 O001200        0
074 P001200       22
074 Q001200        0
<PAGE>      PAGE  63
074 R011200        0
074 R021200        0
074 R031200        0
074 R041200       81
074 S001200        0
074 T001200   223219
074 U011200    22000
074 U021200      230
074 V011200    10.04
074 V021200    10.02
074 W001200   0.0000
074 X001200      297
074 Y001200        0
075 A001200        0
075 B001200   167204
076  001200     0.00
015 A001301 BANKERS TRUST CO.
015 B001301 C
015 C011301 NEW YORK
015 C021301 NY
015 C031301 10005
015 E011301 X
024  001300 Y
025 A001301 DREYFUS TAX EXEMPT CASH FUND
025 B001301 13-5673135
025 C001301 D
025 D001301    2456
025 D001302       0
025 D001303       0
025 D001304       0
025 D001305       0
025 D001306       0
025 D001307       0
025 D001308       0
028 A011300      2308
028 A021300         3
028 A031300         0
028 A041300      2057
028 B011300      2476
028 B021300         4
028 B031300         0
028 B041300     21634
028 C011300      3606
028 C021300         6
028 C031300         0
028 C041300      5256
028 D011300      6944
028 D021300         6
028 D031300         0
028 D041300      3116
028 E011300      2762
<PAGE>      PAGE  64
028 E021300         6
028 E031300         0
028 E041300      1362
028 F011300      2706
028 F021300         4
028 F031300         0
028 F041300       826
028 G011300     20802
028 G021300        29
028 G031300         0
028 G041300     34251
028 H001300       731
029  001300 Y
030 A001300     29
030 B001300  4.00
030 C001300  0.75
031 A001300      0
031 B001300      0
032  001300     29
033  001300      0
037  001300 N
038  001300      0
039  001300 N
040  001300 Y
041  001300 Y
042 A001300   0
042 B001300   0
042 C001300   0
042 D001300 100
042 E001300   0
042 F001300   0
042 G001300   0
042 H001300   0
043  001300      1
044  001300      0
045  001300 Y
046  001300 N
047  001300 Y
048  001300  0.550
048 A011300        0
048 A021300 0.000
048 B011300        0
048 B021300 0.000
048 C011300        0
048 C021300 0.000
048 D011300        0
048 D021300 0.000
048 E011300        0
048 E021300 0.000
048 F011300        0
048 F021300 0.000
<PAGE>      PAGE  65
048 G011300        0
048 G021300 0.000
048 H011300        0
048 H021300 0.000
048 I011300        0
048 I021300 0.000
048 J011300        0
048 J021300 0.000
048 K011300        0
048 K021300 0.000
049  001300 N
050  001300 N
051  001300 N
052  001300 N
053 A001300 N
055 A001300 Y
055 B001300 N
056  001300 Y
057  001300 N
062 A001300 Y
062 B001300   0.0
062 C001300   0.0
062 D001300   0.0
062 E001300   0.0
062 F001300   0.0
062 G001300   0.0
062 H001300   0.0
062 I001300   0.0
062 J001300   0.0
062 K001300   0.0
062 L001300   2.3
062 M001300   0.0
062 N001300   0.0
062 O001300  95.9
062 P001300   0.0
062 Q001300   0.0
062 R001300   1.8
063 A001300   0
063 B001300 13.3
064 A001300 Y
064 B001300 N
066 A001300 N
067  001300 N
068 A001300 N
068 B001300 N
069  001300 N
070 A011300 Y
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 Y
<PAGE>      PAGE  66
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 Y
070 E021300 Y
070 F011300 N
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 Y
070 L011300 Y
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 Y
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 Y
070 P021300 Y
070 Q011300 N
070 Q021300 N
070 R011300 Y
070 R021300 N
071 A001300     68864
071 B001300     83599
071 C001300    103107
071 D001300   67
072 A001300  6
072 B001300     2736
072 C001300       42
072 D001300        0
072 E001300        0
072 F001300      295
072 G001300      107
072 H001300        0
072 I001300        6
072 J001300        5
072 K001300        0
072 L001300        1
072 M001300        2
072 N001300        9
072 O001300        0
072 P001300        0
<PAGE>      PAGE  67
072 Q001300        4
072 R001300        3
072 S001300        2
072 T001300        1
072 U001300        1
072 V001300        0
072 W001300        1
072 X001300      437
072 Y001300        0
072 Z001300     2341
072AA001300     1570
072BB001300        0
072CC011300        0
072CC021300     4328
072DD011300     2344
072DD021300       14
072EE001300        0
073 A011300   0.2300
073 A021300   0.2200
073 B001300   0.0100
073 C001300   0.0000
074 A001300       50
074 B001300        0
074 C001300     2456
074 D001300   101674
074 E001300        0
074 F001300        0
074 G001300        0
074 H001300        0
074 I001300        0
074 J001300      257
074 K001300       94
074 L001300     1577
074 M001300        5
074 N001300   106113
074 O001300        0
074 P001300       11
074 Q001300        0
074 R011300        0
074 R021300        0
074 R031300        0
074 R041300       49
074 S001300        0
074 T001300   106053
074 U011300    10348
074 U021300       73
074 V011300    10.18
074 V021300    10.20
074 W001300   0.0000
074 X001300       32
074 Y001300        0
<PAGE>      PAGE  68
075 A001300        0
075 B001300   107834
076  001300     0.00
SIGNATURE   NEIL FORREST                                 
TITLE       ASST. TREASURER     
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> KENT MONEY MARKET RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        401736746
<INVESTMENTS-AT-VALUE>                       401736746
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                 2090785
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               403827531
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1684414
<TOTAL-LIABILITIES>                            1684414
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     420130923
<SHARES-COMMON-STOCK>                          1165792
<SHARES-COMMON-PRIOR>                          1227451
<ACCUMULATED-NII-CURRENT>                        13072
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                           878
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 402143117
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             11717950
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1111232
<NET-INVESTMENT-INCOME>                       10606718
<REALIZED-GAINS-CURRENT>                          (27)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         10606691
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        28870
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         615656
<NUMBER-OF-SHARES-REDEEMED>                     704824
<SHARES-REINVESTED>                              27509
<NET-CHANGE-IN-ASSETS>                      (23899203)
<ACCUMULATED-NII-PRIOR>                          13072
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                         851
<GROSS-ADVISORY-FEES>                           859858
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1326197
<AVERAGE-NET-ASSETS>                           1176737
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .52
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> KENT MONEY MARKET TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        401736746
<INVESTMENTS-AT-VALUE>                       401736746
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                 2090785
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               403827531
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1684414
<TOTAL-LIABILITIES>                            1684414
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     420130923
<SHARES-COMMON-STOCK>                        400970327
<SHARES-COMMON-PRIOR>                        424807844
<ACCUMULATED-NII-CURRENT>                        13072
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                           878
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 402143117
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             11717950
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1111232
<NET-INVESTMENT-INCOME>                       10606718
<REALIZED-GAINS-CURRENT>                          (27)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         10606691
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     10577848
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      434732803
<NUMBER-OF-SHARES-REDEEMED>                  458821408
<SHARES-REINVESTED>                             251088
<NET-CHANGE-IN-ASSETS>                      (23899203)
<ACCUMULATED-NII-PRIOR>                          13072
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                         851
<GROSS-ADVISORY-FEES>                           859858
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1326197
<AVERAGE-NET-ASSETS>                         431114567
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .52
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> KENT MICHIGAN MUNI MMKT RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        163226562
<INVESTMENTS-AT-VALUE>                       163226562
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                 1006638
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               164233200
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       506784
<TOTAL-LIABILITIES>                             506784
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     163725636
<SHARES-COMMON-STOCK>                           963261
<SHARES-COMMON-PRIOR>                          1603095
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            780
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 163726416
<DIVIDEND-INCOME>                                45177
<INTEREST-INCOME>                              2951544
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  451267
<NET-INVESTMENT-INCOME>                        2545454
<REALIZED-GAINS-CURRENT>                           250
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                          2545704
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        18023
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         124243
<NUMBER-OF-SHARES-REDEEMED>                     780826
<SHARES-REINVESTED>                              16749
<NET-CHANGE-IN-ASSETS>                        16908388
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          530
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           332922
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 534497
<AVERAGE-NET-ASSETS>                            963261
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .54
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> KENT MICHIGAN MUNI MMKT TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        163226562
<INVESTMENTS-AT-VALUE>                       163226562
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                 1006638
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               164233200
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       506784
<TOTAL-LIABILITIES>                             506784
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     163725636
<SHARES-COMMON-STOCK>                        162740055
<SHARES-COMMON-PRIOR>                        145192083
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            780
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 163726416
<DIVIDEND-INCOME>                                45177
<INTEREST-INCOME>                              2951544
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  451267
<NET-INVESTMENT-INCOME>                        2545454
<REALIZED-GAINS-CURRENT>                           250
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                          2545704
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      2527431
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      101028759
<NUMBER-OF-SHARES-REDEEMED>                   83480787
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        16908388
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          530
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           332922
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 534497
<AVERAGE-NET-ASSETS>                         162740056
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .54
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> KENT GROWTH & INCOME RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        396242397
<INVESTMENTS-AT-VALUE>                       455727738
<RECEIVABLES>                                  3741613
<ASSETS-OTHER>                                   21866
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               459491217
<PAYABLE-FOR-SECURITIES>                       4220467
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       161110
<TOTAL-LIABILITIES>                            4381577
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     359161278
<SHARES-COMMON-STOCK>                           954776
<SHARES-COMMON-PRIOR>                           840180
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          171240
<ACCUMULATED-NET-GAINS>                       36634261
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      59485341
<NET-ASSETS>                                 455109640
<DIVIDEND-INCOME>                              6847204
<INTEREST-INCOME>                                20419
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 2089328
<NET-INVESTMENT-INCOME>                        4778295
<REALIZED-GAINS-CURRENT>                      37014643
<APPREC-INCREASE-CURRENT>                    (3797539)
<NET-CHANGE-FROM-OPS>                         37995399
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       129489
<DISTRIBUTIONS-OF-GAINS>                        408189
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1901645
<NUMBER-OF-SHARES-REDEEMED>                     900995
<SHARES-REINVESTED>                             527748
<NET-CHANGE-IN-ASSETS>                        42659048
<ACCUMULATED-NII-PRIOR>                          93922
<ACCUMULATED-GAINS-PRIOR>                     14731487
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1537427
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2089328
<AVERAGE-NET-ASSETS>                          12109035
<PER-SHARE-NAV-BEGIN>                            13.19
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           1.00
<PER-SHARE-DIVIDEND>                               .14
<PER-SHARE-DISTRIBUTIONS>                          .47
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.71
<EXPENSE-RATIO>                                   1.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> KENT GROWTH & INCOME TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        396242397
<INVESTMENTS-AT-VALUE>                       455727738
<RECEIVABLES>                                  3741613
<ASSETS-OTHER>                                   21866
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               459491217
<PAYABLE-FOR-SECURITIES>                       4220467
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       161110
<TOTAL-LIABILITIES>                            4381577
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     359161278
<SHARES-COMMON-STOCK>                         32069888
<SHARES-COMMON-PRIOR>                         30286188
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          171240
<ACCUMULATED-NET-GAINS>                       36634261
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      59485341
<NET-ASSETS>                                 455109640
<DIVIDEND-INCOME>                              6847204
<INTEREST-INCOME>                                20419
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 2089328
<NET-INVESTMENT-INCOME>                        4778295
<REALIZED-GAINS-CURRENT>                      37014643
<APPREC-INCREASE-CURRENT>                    (3797539)
<NET-CHANGE-FROM-OPS>                         37995399
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      4913968
<DISTRIBUTIONS-OF-GAINS>                      14703680
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       72439772
<NUMBER-OF-SHARES-REDEEMED>                   57504840
<SHARES-REINVESTED>                            8355645
<NET-CHANGE-IN-ASSETS>                        42659048
<ACCUMULATED-NII-PRIOR>                          93922
<ACCUMULATED-GAINS-PRIOR>                     14731487
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1537427
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2089328
<AVERAGE-NET-ASSETS>                         429569351
<PER-SHARE-NAV-BEGIN>                            13.25
<PER-SHARE-NII>                                    .15
<PER-SHARE-GAIN-APPREC>                           1.01
<PER-SHARE-DIVIDEND>                               .16
<PER-SHARE-DISTRIBUTIONS>                          .47
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.78
<EXPENSE-RATIO>                                    .94
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 4
   <NAME> KENT INDEX EQUITY RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        153107013
<INVESTMENTS-AT-VALUE>                       215405307
<RECEIVABLES>                                   448225
<ASSETS-OTHER>                                   15505
<OTHER-ITEMS-ASSETS>                             52500
<TOTAL-ASSETS>                               215921537
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        62658
<TOTAL-LIABILITIES>                              62658
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     152978212
<SHARES-COMMON-STOCK>                           627880
<SHARES-COMMON-PRIOR>                           525856
<ACCUMULATED-NII-CURRENT>                       124899
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         331053
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      62424715
<NET-ASSETS>                                 215858879
<DIVIDEND-INCOME>                              2415878
<INTEREST-INCOME>                                15948
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  476934
<NET-INVESTMENT-INCOME>                        1954892
<REALIZED-GAINS-CURRENT>                       1135072
<APPREC-INCREASE-CURRENT>                     16238159
<NET-CHANGE-FROM-OPS>                         19328123
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        63580
<DISTRIBUTIONS-OF-GAINS>                         97753
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1700436
<NUMBER-OF-SHARES-REDEEMED>                     520177
<SHARES-REINVESTED>                             154958
<NET-CHANGE-IN-ASSETS>                        25370290
<ACCUMULATED-NII-PRIOR>                          51864
<ACCUMULATED-GAINS-PRIOR>                      1843059
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           307048
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 579283
<AVERAGE-NET-ASSETS>                           7638007
<PER-SHARE-NAV-BEGIN>                            12.57
<PER-SHARE-NII>                                    .11
<PER-SHARE-GAIN-APPREC>                           1.10
<PER-SHARE-DIVIDEND>                               .11
<PER-SHARE-DISTRIBUTIONS>                          .17
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.50
<EXPENSE-RATIO>                                    .71
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 4
   <NAME> KENT IDEX EQUITY TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        153107013
<INVESTMENTS-AT-VALUE>                       215405307
<RECEIVABLES>                                   448225
<ASSETS-OTHER>                                   15505
<OTHER-ITEMS-ASSETS>                             52500
<TOTAL-ASSETS>                               215921537
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        62658
<TOTAL-LIABILITIES>                              62658
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     152978212
<SHARES-COMMON-STOCK>                         15379878
<SHARES-COMMON-PRIOR>                         14644086
<ACCUMULATED-NII-CURRENT>                       124899
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         331053
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      62424715
<NET-ASSETS>                                 215858879
<DIVIDEND-INCOME>                              2415878
<INTEREST-INCOME>                                15948
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  476934
<NET-INVESTMENT-INCOME>                        1954892
<REALIZED-GAINS-CURRENT>                       1135072
<APPREC-INCREASE-CURRENT>                     16238159
<NET-CHANGE-FROM-OPS>                         19328123
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      1818277
<DISTRIBUTIONS-OF-GAINS>                       2549325
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       34925937
<NUMBER-OF-SHARES-REDEEMED>                   28496446
<SHARES-REINVESTED>                            2806394
<NET-CHANGE-IN-ASSETS>                        25370290
<ACCUMULATED-NII-PRIOR>                          51864
<ACCUMULATED-GAINS-PRIOR>                      1843059
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           307048
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 579283
<AVERAGE-NET-ASSETS>                         198185492
<PER-SHARE-NAV-BEGIN>                            12.56
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                           1.09
<PER-SHARE-DIVIDEND>                               .12
<PER-SHARE-DISTRIBUTIONS>                          .17
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.48
<EXPENSE-RATIO>                                    .46
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 5
   <NAME> KENT INTERNATIONAL GROWTH RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        269720535
<INVESTMENTS-AT-VALUE>                       329543653
<RECEIVABLES>                                   198987
<ASSETS-OTHER>                                 1994965
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               331737605
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       253529
<TOTAL-LIABILITIES>                             253529
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     267437314
<SHARES-COMMON-STOCK>                           580196
<SHARES-COMMON-PRIOR>                           534190
<ACCUMULATED-NII-CURRENT>                      2075229
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        2142248
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      59829285
<NET-ASSETS>                                 331484076
<DIVIDEND-INCOME>                              4326745
<INTEREST-INCOME>                                21618
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1766589
<NET-INVESTMENT-INCOME>                        2581774
<REALIZED-GAINS-CURRENT>                       2354460
<APPREC-INCREASE-CURRENT>                      9296481
<NET-CHANGE-FROM-OPS>                         14232715
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1244447
<NUMBER-OF-SHARES-REDEEMED>                     585921
<SHARES-REINVESTED>                                354
<NET-CHANGE-IN-ASSETS>                        37390980
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                         506545
<OVERDIST-NET-GAINS-PRIOR>                      212212
<GROSS-ADVISORY-FEES>                          1163996
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1766589
<AVERAGE-NET-ASSETS>                           8109209
<PER-SHARE-NAV-BEGIN>                            14.13
<PER-SHARE-NII>                                    .10
<PER-SHARE-GAIN-APPREC>                            .53
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.76
<EXPENSE-RATIO>                                   1.38
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 5
   <NAME> KENT INTERNATIONAL GROWTH TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        269720535
<INVESTMENTS-AT-VALUE>                       329543653
<RECEIVABLES>                                   198987
<ASSETS-OTHER>                                 1994965
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               331737605
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       253529
<TOTAL-LIABILITIES>                             253529
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     267437314
<SHARES-COMMON-STOCK>                         21765643
<SHARES-COMMON-PRIOR>                         20203234
<ACCUMULATED-NII-CURRENT>                      2075229
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        2142248
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      59829285
<NET-ASSETS>                                 331484076
<DIVIDEND-INCOME>                              4326745
<INTEREST-INCOME>                                21618
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1766589
<NET-INVESTMENT-INCOME>                        2581774
<REALIZED-GAINS-CURRENT>                       2354460
<APPREC-INCREASE-CURRENT>                      9296481
<NET-CHANGE-FROM-OPS>                         14232715
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       47208039
<NUMBER-OF-SHARES-REDEEMED>                   24730690
<SHARES-REINVESTED>                              22036
<NET-CHANGE-IN-ASSETS>                        37390980
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                         506545
<OVERDIST-NET-GAINS-PRIOR>                      212212
<GROSS-ADVISORY-FEES>                          1163996
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1766589
<AVERAGE-NET-ASSETS>                         303995190
<PER-SHARE-NAV-BEGIN>                            14.18
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                            .54
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.84
<EXPENSE-RATIO>                                   1.13
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 6
   <NAME> KENT SMALL CO. GROWTH RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        420675384
<INVESTMENTS-AT-VALUE>                       519609091
<RECEIVABLES>                                  1610112
<ASSETS-OTHER>                                   17107
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               521236310
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       144039
<TOTAL-LIABILITIES>                             144039
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     409433731
<SHARES-COMMON-STOCK>                           867084
<SHARES-COMMON-PRIOR>                           793547
<ACCUMULATED-NII-CURRENT>                        32616
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       12690067
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      98935857
<NET-ASSETS>                                 521092271
<DIVIDEND-INCOME>                              4070205
<INTEREST-INCOME>                                 2146
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 2401646
<NET-INVESTMENT-INCOME>                        1670705
<REALIZED-GAINS-CURRENT>                      12723933
<APPREC-INCREASE-CURRENT>                     46375773
<NET-CHANGE-FROM-OPS>                         60770411
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        31208
<DISTRIBUTIONS-OF-GAINS>                         86593
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1915699
<NUMBER-OF-SHARES-REDEEMED>                     973917
<SHARES-REINVESTED>                             116285
<NET-CHANGE-IN-ASSETS>                        60064828
<ACCUMULATED-NII-PRIOR>                          24141
<ACCUMULATED-GAINS-PRIOR>                      3575323
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1739247
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2401646
<AVERAGE-NET-ASSETS>                          12254917
<PER-SHARE-NAV-BEGIN>                            13.81
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                           1.69
<PER-SHARE-DIVIDEND>                               .04
<PER-SHARE-DISTRIBUTIONS>                          .10
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.39
<EXPENSE-RATIO>                                   1.21
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 6
   <NAME> KENT SMALL CO GROWTH TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        420675384
<INVESTMENTS-AT-VALUE>                       519609091
<RECEIVABLES>                                  1610112
<ASSETS-OTHER>                                   17107
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               521236310
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       144039
<TOTAL-LIABILITIES>                             144039
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     409433731
<SHARES-COMMON-STOCK>                         32934070
<SHARES-COMMON-PRIOR>                         32567385
<ACCUMULATED-NII-CURRENT>                        32616
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       12690067
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      98935857
<NET-ASSETS>                                 521092271
<DIVIDEND-INCOME>                              4070205
<INTEREST-INCOME>                                 2146
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 2401646
<NET-INVESTMENT-INCOME>                        1670705
<REALIZED-GAINS-CURRENT>                      12723933
<APPREC-INCREASE-CURRENT>                     46375773
<NET-CHANGE-FROM-OPS>                         60770411
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      1631022
<DISTRIBUTIONS-OF-GAINS>                       3522596
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       62825042
<NUMBER-OF-SHARES-REDEEMED>                   61983592
<SHARES-REINVESTED>                            2666319
<NET-CHANGE-IN-ASSETS>                        60064828
<ACCUMULATED-NII-PRIOR>                          24141
<ACCUMULATED-GAINS-PRIOR>                      3575323
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1739247
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                2401646
<AVERAGE-NET-ASSETS>                         487403181
<PER-SHARE-NAV-BEGIN>                            13.82
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                           1.70
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                          .10
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.42
<EXPENSE-RATIO>                                    .96
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 7
   <NAME> KENT SHORT-TERM BOND RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        279424076
<INVESTMENTS-AT-VALUE>                       277004582
<RECEIVABLES>                                  4148370
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               281152952
<PAYABLE-FOR-SECURITIES>                         46118
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       118737
<TOTAL-LIABILITIES>                             164855
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     287339314
<SHARES-COMMON-STOCK>                           157849
<SHARES-COMMON-PRIOR>                           164130
<ACCUMULATED-NII-CURRENT>                       624707
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       4556430
<ACCUM-APPREC-OR-DEPREC>                     (2419494)
<NET-ASSETS>                                 280988097
<DIVIDEND-INCOME>                               128512
<INTEREST-INCOME>                              9865942
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1048646
<NET-INVESTMENT-INCOME>                        8945808
<REALIZED-GAINS-CURRENT>                      (298199)
<APPREC-INCREASE-CURRENT>                    (6600044)
<NET-CHANGE-FROM-OPS>                          2047565
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        44117
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         138262
<NUMBER-OF-SHARES-REDEEMED>                     240777
<SHARES-REINVESTED>                              39464
<NET-CHANGE-IN-ASSETS>                      (31325797)
<ACCUMULATED-NII-PRIOR>                         191514
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                     4258231
<GROSS-ADVISORY-FEES>                           734502
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1048646
<AVERAGE-NET-ASSETS>                           1561371
<PER-SHARE-NAV-BEGIN>                             9.95
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                          (.22)
<PER-SHARE-DIVIDEND>                               .28
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.74
<EXPENSE-RATIO>                                    .86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 7
   <NAME> KENT SHORT-TERM BOND TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        279424076
<INVESTMENTS-AT-VALUE>                       277004582
<RECEIVABLES>                                  4148370
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               281152952
<PAYABLE-FOR-SECURITIES>                         46118
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       118737
<TOTAL-LIABILITIES>                             164855
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     287339314
<SHARES-COMMON-STOCK>                         28675454
<SHARES-COMMON-PRIOR>                         31192271
<ACCUMULATED-NII-CURRENT>                       624707
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       4556430
<ACCUM-APPREC-OR-DEPREC>                     (2419494)
<NET-ASSETS>                                 280988097
<DIVIDEND-INCOME>                               128512
<INTEREST-INCOME>                              9865942
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1048646
<NET-INVESTMENT-INCOME>                        8945808
<REALIZED-GAINS-CURRENT>                      (298199)
<APPREC-INCREASE-CURRENT>                    (6600044)
<NET-CHANGE-FROM-OPS>                          2047565
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      8468498
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       41037808
<NUMBER-OF-SHARES-REDEEMED>                   70374849
<SHARES-REINVESTED>                            4539345
<NET-CHANGE-IN-ASSETS>                      (31325797)
<ACCUMULATED-NII-PRIOR>                         191514
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                     4258231
<GROSS-ADVISORY-FEES>                           734502
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1048646
<AVERAGE-NET-ASSETS>                         293853861
<PER-SHARE-NAV-BEGIN>                             9.96
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                          (.22)
<PER-SHARE-DIVIDEND>                               .29
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.75
<EXPENSE-RATIO>                                    .71
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 8
   <NAME> KENT INTERMEDIATE TAX-FREE RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        279898047
<INVESTMENTS-AT-VALUE>                       285522383
<RECEIVABLES>                                  4811468
<ASSETS-OTHER>                                  293183
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               290627034
<PAYABLE-FOR-SECURITIES>                         71279
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        70316
<TOTAL-LIABILITIES>                             141595
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     285906883
<SHARES-COMMON-STOCK>                           332675
<SHARES-COMMON-PRIOR>                           361926
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                            1385
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       1044395
<ACCUM-APPREC-OR-DEPREC>                       5624336
<NET-ASSETS>                                 290485439
<DIVIDEND-INCOME>                                64721
<INTEREST-INCOME>                              7337183
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1068466
<NET-INVESTMENT-INCOME>                        6333438
<REALIZED-GAINS-CURRENT>                        484843
<APPREC-INCREASE-CURRENT>                    (7982318)
<NET-CHANGE-FROM-OPS>                        (1164037)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        77624
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         391381
<NUMBER-OF-SHARES-REDEEMED>                     727955
<SHARES-REINVESTED>                              39895
<NET-CHANGE-IN-ASSETS>                         2945091
<ACCUMULATED-NII-PRIOR>                         133320
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                     1529238
<GROSS-ADVISORY-FEES>                           727528
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1068466
<AVERAGE-NET-ASSETS>                           3790852
<PER-SHARE-NAV-BEGIN>                            10.52
<PER-SHARE-NII>                                    .21
<PER-SHARE-GAIN-APPREC>                          (.25)
<PER-SHARE-DIVIDEND>                               .22
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.26
<EXPENSE-RATIO>                                    .98
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 8
   <NAME> KENT INTERMEDIATE TAX-FREE TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        279898047
<INVESTMENTS-AT-VALUE>                       285522383
<RECEIVABLES>                                  4811468
<ASSETS-OTHER>                                  293183
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               290627034
<PAYABLE-FOR-SECURITIES>                         71279
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        70316
<TOTAL-LIABILITIES>                             141595
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     285906883
<SHARES-COMMON-STOCK>                         27983598
<SHARES-COMMON-PRIOR>                         26977765
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                            1385
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       1044395
<ACCUM-APPREC-OR-DEPREC>                       5624336
<NET-ASSETS>                                 290485439
<DIVIDEND-INCOME>                                64721
<INTEREST-INCOME>                              7337183
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1068466
<NET-INVESTMENT-INCOME>                        6333438
<REALIZED-GAINS-CURRENT>                        484843
<APPREC-INCREASE-CURRENT>                    (7982318)
<NET-CHANGE-FROM-OPS>                        (1164037)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      6390519
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       43877742
<NUMBER-OF-SHARES-REDEEMED>                   33028280
<SHARES-REINVESTED>                              24488
<NET-CHANGE-IN-ASSETS>                         2945091
<ACCUMULATED-NII-PRIOR>                         133320
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                     1529238
<GROSS-ADVISORY-FEES>                           727528
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1068466
<AVERAGE-NET-ASSETS>                         288819137
<PER-SHARE-NAV-BEGIN>                            10.52
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                          (.25)
<PER-SHARE-DIVIDEND>                               .23
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.26
<EXPENSE-RATIO>                                    .73
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 9
   <NAME> KENT INTERMEDIATE BOND RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        809367190
<INVESTMENTS-AT-VALUE>                       790928699
<RECEIVABLES>                                 12390601
<ASSETS-OTHER>                                 1019885
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               804339185
<PAYABLE-FOR-SECURITIES>                         34209
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       104404
<TOTAL-LIABILITIES>                             138613
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     825295578
<SHARES-COMMON-STOCK>                           766812
<SHARES-COMMON-PRIOR>                           676709
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         1636833
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       1019682
<ACCUM-APPREC-OR-DEPREC>                    (18438491)
<NET-ASSETS>                                 804200572
<DIVIDEND-INCOME>                               533214
<INTEREST-INCOME>                             29016302
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 3179706
<NET-INVESTMENT-INCOME>                       26369810
<REALIZED-GAINS-CURRENT>                     (3478343)
<APPREC-INCREASE-CURRENT>                   (33966323)
<NET-CHANGE-FROM-OPS>                       (11074856)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       241044
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1124687
<NUMBER-OF-SHARES-REDEEMED>                     429832
<SHARES-REINVESTED>                             194861
<NET-CHANGE-IN-ASSETS>                      (57461779)
<ACCUMULATED-NII-PRIOR>                        1014509
<ACCUMULATED-GAINS-PRIOR>                      2458661
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2296070
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                3179706
<AVERAGE-NET-ASSETS>                           7115652
<PER-SHARE-NAV-BEGIN>                            10.14
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                          (.43)
<PER-SHARE-DIVIDEND>                               .33
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.68
<EXPENSE-RATIO>                                    .81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 9
   <NAME> KENT INTERMEDIATE BOND TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        809367190
<INVESTMENTS-AT-VALUE>                       790928699
<RECEIVABLES>                                 12390601
<ASSETS-OTHER>                                 1019885
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               804339185
<PAYABLE-FOR-SECURITIES>                         34209
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       104404
<TOTAL-LIABILITIES>                             138613
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     825295578
<SHARES-COMMON-STOCK>                         82475454
<SHARES-COMMON-PRIOR>                         84468388
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         1636833
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       1019682
<ACCUM-APPREC-OR-DEPREC>                    (18438491)
<NET-ASSETS>                                 804200572
<DIVIDEND-INCOME>                               533214
<INTEREST-INCOME>                             29016302
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 3179706
<NET-INVESTMENT-INCOME>                       26369810
<REALIZED-GAINS-CURRENT>                     (3478343)
<APPREC-INCREASE-CURRENT>                   (33966323)
<NET-CHANGE-FROM-OPS>                       (11074856)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     28780108
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      126864000
<NUMBER-OF-SHARES-REDEEMED>                  160268664
<SHARES-REINVESTED>                           15149177
<NET-CHANGE-IN-ASSETS>                      (57461779)
<ACCUMULATED-NII-PRIOR>                        1014509
<ACCUMULATED-GAINS-PRIOR>                      2458661
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2296070
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                3179706
<AVERAGE-NET-ASSETS>                         832406339
<PER-SHARE-NAV-BEGIN>                            10.12
<PER-SHARE-NII>                                    .31
<PER-SHARE-GAIN-APPREC>                          (.43)
<PER-SHARE-DIVIDEND>                               .34
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.66
<EXPENSE-RATIO>                                    .81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 10
   <NAME> KENT MICHIGAN MUNI BOND RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        169793551
<INVESTMENTS-AT-VALUE>                       170164279
<RECEIVABLES>                                  2488283
<ASSETS-OTHER>                                    1594
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               172654156
<PAYABLE-FOR-SECURITIES>                        424098
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        50331
<TOTAL-LIABILITIES>                             474429
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     171822496
<SHARES-COMMON-STOCK>                           229042
<SHARES-COMMON-PRIOR>                           187833
<ACCUMULATED-NII-CURRENT>                       112935
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                        126432
<ACCUM-APPREC-OR-DEPREC>                        370728
<NET-ASSETS>                                 172179727
<DIVIDEND-INCOME>                                65425
<INTEREST-INCOME>                              3869682
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  612963
<NET-INVESTMENT-INCOME>                        3322144
<REALIZED-GAINS-CURRENT>                         52459
<APPREC-INCREASE-CURRENT>                    (2164111)
<NET-CHANGE-FROM-OPS>                          1210492
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        37607
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         567304
<NUMBER-OF-SHARES-REDEEMED>                     167914
<SHARES-REINVESTED>                              13652
<NET-CHANGE-IN-ASSETS>                      (15185858)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                      178891
<GROSS-ADVISORY-FEES>                           394625
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 612963
<AVERAGE-NET-ASSETS>                           2104729
<PER-SHARE-NAV-BEGIN>                            10.11
<PER-SHARE-NII>                                    .18
<PER-SHARE-GAIN-APPREC>                          (.12)
<PER-SHARE-DIVIDEND>                               .18
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.99
<EXPENSE-RATIO>                                    .85
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 10
   <NAME> KENT MICHIGAN MUNI BOND TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        169793551
<INVESTMENTS-AT-VALUE>                       170164279
<RECEIVABLES>                                  2488283
<ASSETS-OTHER>                                    1594
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               172654156
<PAYABLE-FOR-SECURITIES>                        424098
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        50331
<TOTAL-LIABILITIES>                             474429
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     171822496
<SHARES-COMMON-STOCK>                         16982359
<SHARES-COMMON-PRIOR>                         18328669
<ACCUMULATED-NII-CURRENT>                       112935
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                        126432
<ACCUM-APPREC-OR-DEPREC>                        370728
<NET-ASSETS>                                 172179727
<DIVIDEND-INCOME>                                65425
<INTEREST-INCOME>                              3869682
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  612963
<NET-INVESTMENT-INCOME>                        3322144
<REALIZED-GAINS-CURRENT>                         52459
<APPREC-INCREASE-CURRENT>                    (2164111)
<NET-CHANGE-FROM-OPS>                          1210492
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      3171602
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       16624788
<NUMBER-OF-SHARES-REDEEMED>                   30250873
<SHARES-REINVESTED>                              25902
<NET-CHANGE-IN-ASSETS>                      (15185858)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                      178891
<GROSS-ADVISORY-FEES>                           394625
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 612963
<AVERAGE-NET-ASSETS>                         174247772
<PER-SHARE-NAV-BEGIN>                            10.12
<PER-SHARE-NII>                                    .19
<PER-SHARE-GAIN-APPREC>                          (.13)
<PER-SHARE-DIVIDEND>                               .18
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.00
<EXPENSE-RATIO>                                    .70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 11
   <NAME> KENT LIMITED TERM TAX-FREE RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                         47095307
<INVESTMENTS-AT-VALUE>                        47317379
<RECEIVABLES>                                   758925
<ASSETS-OTHER>                                 1024314
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                49100618
<PAYABLE-FOR-SECURITIES>                       1005042
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        24559
<TOTAL-LIABILITIES>                            1029601
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      47736226
<SHARES-COMMON-STOCK>                             5147
<SHARES-COMMON-PRIOR>                             5258
<ACCUMULATED-NII-CURRENT>                        36027
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          76692
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        222072
<NET-ASSETS>                                  48071017
<DIVIDEND-INCOME>                                14238
<INTEREST-INCOME>                              1138285
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  190339
<NET-INVESTMENT-INCOME>                         962184
<REALIZED-GAINS-CURRENT>                         67483
<APPREC-INCREASE-CURRENT>                     (645307)
<NET-CHANGE-FROM-OPS>                           384360
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          947
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                       2094
<SHARES-REINVESTED>                                947
<NET-CHANGE-IN-ASSETS>                       (7330173)
<ACCUMULATED-NII-PRIOR>                          24691
<ACCUMULATED-GAINS-PRIOR>                         9209
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           113640
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 190339
<AVERAGE-NET-ASSETS>                             52180
<PER-SHARE-NAV-BEGIN>                            10.24
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                          (.14)
<PER-SHARE-DIVIDEND>                               .19
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.13
<EXPENSE-RATIO>                                    .91
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 11
   <NAME> KENT LIMITED TERM TAX-FREE TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                         47095307
<INVESTMENTS-AT-VALUE>                        47317379
<RECEIVABLES>                                   758925
<ASSETS-OTHER>                                 1024314
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                49100618
<PAYABLE-FOR-SECURITIES>                       1005042
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        24559
<TOTAL-LIABILITIES>                            1029601
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      47736226
<SHARES-COMMON-STOCK>                          4752066
<SHARES-COMMON-PRIOR>                          5416282
<ACCUMULATED-NII-CURRENT>                        36027
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          76692
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        222072
<NET-ASSETS>                                  48071017
<DIVIDEND-INCOME>                                14238
<INTEREST-INCOME>                              1138285
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  190339
<NET-INVESTMENT-INCOME>                         962184
<REALIZED-GAINS-CURRENT>                         67483
<APPREC-INCREASE-CURRENT>                     (645307)
<NET-CHANGE-FROM-OPS>                           384360
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       949901
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        4333829
<NUMBER-OF-SHARES-REDEEMED>                   11098045
<SHARES-REINVESTED>                               1678
<NET-CHANGE-IN-ASSETS>                       (7330173)
<ACCUMULATED-NII-PRIOR>                          24691
<ACCUMULATED-GAINS-PRIOR>                         9209
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           113640
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 190339
<AVERAGE-NET-ASSETS>                          50731920
<PER-SHARE-NAV-BEGIN>                            10.22
<PER-SHARE-NII>                                    .19
<PER-SHARE-GAIN-APPREC>                          (.12)
<PER-SHARE-DIVIDEND>                               .19
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.10
<EXPENSE-RATIO>                                    .75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 12
   <NAME> KENT INCOME RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        220558014
<INVESTMENTS-AT-VALUE>                       218970117
<RECEIVABLES>                                  4254451
<ASSETS-OTHER>                                   90304
<OTHER-ITEMS-ASSETS>                              6949
<TOTAL-ASSETS>                               223321821
<PAYABLE-FOR-SECURITIES>                         31094
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        71932
<TOTAL-LIABILITIES>                             103026
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     222563999
<SHARES-COMMON-STOCK>                           230328
<SHARES-COMMON-PRIOR>                           181277
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          637693
<ACCUMULATED-NET-GAINS>                        2880386
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (1587897)
<NET-ASSETS>                                 223218795
<DIVIDEND-INCOME>                               104264
<INTEREST-INCOME>                              6092724
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  694277
<NET-INVESTMENT-INCOME>                        5502711
<REALIZED-GAINS-CURRENT>                        853422
<APPREC-INCREASE-CURRENT>                   (10723452)
<NET-CHANGE-FROM-OPS>                        (4367319)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        71913
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         731159
<NUMBER-OF-SHARES-REDEEMED>                     290689
<SHARES-REINVESTED>                              61012
<NET-CHANGE-IN-ASSETS>                        95201387
<ACCUMULATED-NII-PRIOR>                         100052
<ACCUMULATED-GAINS-PRIOR>                      2026964
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           498871
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 694277
<AVERAGE-NET-ASSETS>                           2088145
<PER-SHARE-NAV-BEGIN>                            10.82
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                          (.78)
<PER-SHARE-DIVIDEND>                               .35
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.02
<EXPENSE-RATIO>                                   1.08
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 12
   <NAME> KENT INCOME TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        220558014
<INVESTMENTS-AT-VALUE>                       218970117
<RECEIVABLES>                                  4254451
<ASSETS-OTHER>                                   90304
<OTHER-ITEMS-ASSETS>                              6949
<TOTAL-ASSETS>                               223321821
<PAYABLE-FOR-SECURITIES>                         31094
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        71932
<TOTAL-LIABILITIES>                             103026
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     222563999
<SHARES-COMMON-STOCK>                         22000473
<SHARES-COMMON-PRIOR>                         11626340
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          637693
<ACCUMULATED-NET-GAINS>                        2880386
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (1587897)
<NET-ASSETS>                                 223218795
<DIVIDEND-INCOME>                               104264
<INTEREST-INCOME>                              6092724
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  694277
<NET-INVESTMENT-INCOME>                        5502711
<REALIZED-GAINS-CURRENT>                        853422
<APPREC-INCREASE-CURRENT>                   (10723452)
<NET-CHANGE-FROM-OPS>                        (4367319)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      6168543
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      118426267
<NUMBER-OF-SHARES-REDEEMED>                   14128799
<SHARES-REINVESTED>                            1010212
<NET-CHANGE-IN-ASSETS>                        95201387
<ACCUMULATED-NII-PRIOR>                         100052
<ACCUMULATED-GAINS-PRIOR>                      2026964
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           498871
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 694277
<AVERAGE-NET-ASSETS>                         165115715
<PER-SHARE-NAV-BEGIN>                            10.84
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                          (.77)
<PER-SHARE-DIVIDEND>                               .36
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.04
<EXPENSE-RATIO>                                    .83
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 13
   <NAME> KENT TAX-FREE INCOME RETAIL
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        103492373
<INVESTMENTS-AT-VALUE>                       104129956
<RECEIVABLES>                                  1927552
<ASSETS-OTHER>                                   50199
<OTHER-ITEMS-ASSETS>                              4932
<TOTAL-ASSETS>                               106112639
<PAYABLE-FOR-SECURITIES>                         32062
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        27372
<TOTAL-LIABILITIES>                              59434
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     103831417
<SHARES-COMMON-STOCK>                            72748
<SHARES-COMMON-PRIOR>                            50253
<ACCUMULATED-NII-CURRENT>                        11877
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        1572328
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        637583
<NET-ASSETS>                                 106053205
<DIVIDEND-INCOME>                                41385
<INTEREST-INCOME>                              2736222
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  436775
<NET-INVESTMENT-INCOME>                        2340832
<REALIZED-GAINS-CURRENT>                       1570389
<APPREC-INCREASE-CURRENT>                    (4328246)
<NET-CHANGE-FROM-OPS>                         (417025)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        14670
<DISTRIBUTIONS-OF-GAINS>                           924
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         265139
<NUMBER-OF-SHARES-REDEEMED>                      45919
<SHARES-REINVESTED>                              15206
<NET-CHANGE-IN-ASSETS>                      (16331085)
<ACCUMULATED-NII-PRIOR>                          29289
<ACCUMULATED-GAINS-PRIOR>                       138105
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           294923
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 436775
<AVERAGE-NET-ASSETS>                            686827
<PER-SHARE-NAV-BEGIN>                            10.52
<PER-SHARE-NII>                                    .20
<PER-SHARE-GAIN-APPREC>                          (.29)
<PER-SHARE-DIVIDEND>                               .22
<PER-SHARE-DISTRIBUTIONS>                          .01
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.20
<EXPENSE-RATIO>                                   1.07
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 13
   <NAME> KENT TAX-FREE INCOME TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                        103492373
<INVESTMENTS-AT-VALUE>                       104129956
<RECEIVABLES>                                  1927552
<ASSETS-OTHER>                                   50199
<OTHER-ITEMS-ASSETS>                              4932
<TOTAL-ASSETS>                               106112639
<PAYABLE-FOR-SECURITIES>                         32062
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        27372
<TOTAL-LIABILITIES>                              59434
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     103831417
<SHARES-COMMON-STOCK>                         10348160
<SHARES-COMMON-PRIOR>                         11611059
<ACCUMULATED-NII-CURRENT>                        11877
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        1572328
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        637583
<NET-ASSETS>                                 106053205
<DIVIDEND-INCOME>                                41385
<INTEREST-INCOME>                              2736222
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  436775
<NET-INVESTMENT-INCOME>                        2340832
<REALIZED-GAINS-CURRENT>                       1570389
<APPREC-INCREASE-CURRENT>                    (4328246)
<NET-CHANGE-FROM-OPS>                         (417025)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      2343574
<DISTRIBUTIONS-OF-GAINS>                        135242
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       20536717
<NUMBER-OF-SHARES-REDEEMED>                   34204664
<SHARES-REINVESTED>                              13871
<NET-CHANGE-IN-ASSETS>                      (16331085)
<ACCUMULATED-NII-PRIOR>                          29289
<ACCUMULATED-GAINS-PRIOR>                       138105
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           294923
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 436775
<AVERAGE-NET-ASSETS>                         107147218
<PER-SHARE-NAV-BEGIN>                            10.49
<PER-SHARE-NII>                                    .23
<PER-SHARE-GAIN-APPREC>                          (.30)
<PER-SHARE-DIVIDEND>                               .23
<PER-SHARE-DISTRIBUTIONS>                          .01
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.18
<EXPENSE-RATIO>                                    .81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission