ECLIPSE FUNDS
NSAR-A, 1998-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000802209
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 ECLIPSE FUNDS
001 B000000 811-4847
001 C000000 2125765773
002 A000000 144 E. 30TH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10016
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 EQUITY FUND
007 C030100 N
007 C010200  2
007 C020200 BALANCED FUND
007 C030200 N
007 C010300  3
007 C020300 ULTRA SHORT TERM INCOME FUND
007 C030300 N
007 C010400  4
007 C020400 GROWTH AND INCOME FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
<PAGE>      PAGE  2
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
020 A000001 JOSEPHATAL LYONS & ROSS INC.
020 B000001 13-1850914
020 C000001     95
020 A000002 STANDARD & POORS SECURITIES INC.
020 B000002 13-2671951
020 C000002     91
020 A000003 INSTINET CORPORATION
020 B000003 13-3443395
020 C000003     57
020 A000004 OPPENHEIMER & CO. INC.
020 B000004 13-2798343
020 C000004     40
<PAGE>      PAGE  3
020 A000005 VANDHAM SECURITIES CORPORATION
020 B000005 22-3039058
020 C000005     28
020 A000006 WILSHIRE ASSOCIATES
020 B000006 95-2755361
020 C000006     14
020 A000007 FIDELITY BROKERAGE SERVICES
020 B000007 04-2653569
020 C000007     12
020 A000008 NUTMEG SECURITIES
020 B000008 06-1186517
020 C000008      7
020 A000009 BLACKBURN & COMPANY, INC.
020 B000009 13-2754071
020 C000009      5
020 A000010 JACK (WHITE) & COMPANY, INC.
020 B000010 95-3234458
020 C000010      3
021  000000      357
022 A000001 STATE STREET BANK AND TRUST CO.
022 B000001 04-1867445
022 C000001    639296
022 D000001         0
022 A000002 HERZOG, HEINE, GEDULD INC.
022 B000002 13-1955436
022 C000002      4979
022 D000002      2675
022 A000003 TROSTER SINGER
022 B000003 13-5515160
022 C000003      3648
022 D000003      2528
022 A000004 COUNTRYWIDE CREDIT CORPORATION
022 B000004 95-3667085
022 C000004      5293
022 D000004         0
022 A000005 SHERWOOD SECURITIES
022 B000005 13-2616318
022 C000005      1772
022 D000005      3368
022 A000006 MERRILL LYNCH, PIERCE FENNER AND SMITH, INC.
022 B000006 13-5674085
022 C000006      3410
022 D000006      1409
022 A000007 SCHWAB, CHARLES
022 B000007 94-1737782
022 C000007      1586
022 D000007      2770
022 A000008 SMITH BARNEY INC.
022 B000008 13-1912900
022 C000008      1200
022 D000008      1323
<PAGE>      PAGE  4
022 A000009 ROBINSON HUMPHREY CO.
022 B000009 58-1472560
022 C000009         0
022 D000009      1970
022 A000010 BEAR STEARNS AND COMPANY INC.
022 B000010 13-3299429
022 C000010         0
022 D000010      1250
023 C000000     663415
023 D000000      18928
024  00AA00 N
027  000000 Y
029  00AA00 N
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
034  00AA00 N
035  00AA00      0
036 B00AA00      0
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038  00AA00      0
039  00AA00 N
040  00AA00 N
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044  00AA00      0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
061  00AA00     1000
070 A01AA00 Y
070 A02AA00 N
<PAGE>      PAGE  5
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 Y
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
077 B000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
080 A00AA00 CHUBB INSURANCE COMPANY
080 C00AA00     1250
081 A00AA00 N
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082 A00AA00 Y
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084 B00AA00        0
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<PAGE>      PAGE  6
028 B010100      2565
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<PAGE>      PAGE  7
053 A000100 N
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
076  000100     0.00
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<PAGE>      PAGE  10
048 I020200 0.000
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053 A000200 Y
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066 A000200 Y
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068 A000200 N
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
074 V010200    23.72
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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SIGNATURE   MICHAEL MCDONOUGH                            
TITLE       ATTORNEY            
 

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

<TABLE> <S> <C>

<ARTICLE>                     6
<CIK>                         0000802209
<NAME>                        Eclipse Financial Asset Trust
<SERIES>
   <NUMBER>                   1
   <NAME>                     Eclipse Equity Fund
<MULTIPLIER>                  1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   DEC-31-1997
<INVESTMENTS-AT-COST>                          146,432,107
<INVESTMENTS-AT-VALUE>                         191,999,068
<RECEIVABLES>                                  1,636,828
<ASSETS-OTHER>                                 193,776
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                                 193,829,672
<PAYABLE-FOR-SECURITIES>                       982,279
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      2,882,442
<TOTAL-LIABILITIES>                            3,864,721
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       144,384,771
<SHARES-COMMON-STOCK>                          13,390,434
<SHARES-COMMON-PRIOR>                          12,671,399
<ACCUMULATED-NII-CURRENT>                      0
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        13,219
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       45,566,961
<NET-ASSETS>                                   189,964,951
<DIVIDEND-INCOME>                              1,664,229
<INTEREST-INCOME>                              153,310
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 2,022,959
<NET-INVESTMENT-INCOME>                        (205,420)
<REALIZED-GAINS-CURRENT>                       39,214,295
<APPREC-INCREASE-CURRENT>                      10,587,723
<NET-CHANGE-FROM-OPS>                          49,596,598
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      0
<DISTRIBUTIONS-OF-GAINS>                       (39,161,849)
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        1,515,115
<NUMBER-OF-SHARES-REDEEMED>                    (3,598,851)
<SHARES-REINVESTED>                            2,802,771
<NET-CHANGE-IN-ASSETS>                         19,218,208
<ACCUMULATED-NII-PRIOR>                        7,178
<ACCUMULATED-GAINS-PRIOR>                      0.00
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          1,781,313
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                2,024,367
<AVERAGE-NET-ASSETS>                           178,131,275
<PER-SHARE-NAV-BEGIN>                          13.470
<PER-SHARE-NII>                                (0.020)
<PER-SHARE-GAIN-APPREC>                        4.400
<PER-SHARE-DIVIDEND>                           0.000
<PER-SHARE-DISTRIBUTIONS>                      (3.660)
<RETURNS-OF-CAPITAL>                           0.000
<PER-SHARE-NAV-END>                            14.190
<EXPENSE-RATIO>                                1.1400
<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
<CIK>                         0000802209
<NAME>                        Eclipse Financial Asset Trust
<SERIES>
   <NUMBER>                   2
   <NAME>                     Eclipse Balanced Fund
<MULTIPLIER>                  1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   DEC-31-1997
<INVESTMENTS-AT-COST>                          74,649,869
<INVESTMENTS-AT-VALUE>                         88,055,719
<RECEIVABLES>                                  770,180
<ASSETS-OTHER>                                 0
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                                 88,825,899
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      4,579,833
<TOTAL-LIABILITIES>                            4,579,833
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       70,840,216
<SHARES-COMMON-STOCK>                          3,803,313
<SHARES-COMMON-PRIOR>                          3,991,125
<ACCUMULATED-NII-CURRENT>                      0
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        0
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       13,405,850
<NET-ASSETS>                                   84,246,066
<DIVIDEND-INCOME>                              802,693
<INTEREST-INCOME>                              2,344,687
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 716,061
<NET-INVESTMENT-INCOME>                        2,431,319
<REALIZED-GAINS-CURRENT>                       10,408,969
<APPREC-INCREASE-CURRENT>                      5,041,636
<NET-CHANGE-FROM-OPS>                          17,881,924
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      (2,431,857)
<DISTRIBUTIONS-OF-GAINS>                       (10,409,079)
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        449,370
<NUMBER-OF-SHARES-REDEEMED>                    (1,217,823)
<SHARES-REINVESTED>                            580,641
<NET-CHANGE-IN-ASSETS>                         420,905
<ACCUMULATED-NII-PRIOR>                        278
<ACCUMULATED-GAINS-PRIOR>                      0.00
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          681,825
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                870,527
<AVERAGE-NET-ASSETS>                           85,228,184
<PER-SHARE-NAV-BEGIN>                          21.000
<PER-SHARE-NII>                                0.660
<PER-SHARE-GAIN-APPREC>                        4.140
<PER-SHARE-DIVIDEND>                           (0.660)
<PER-SHARE-DISTRIBUTIONS>                      (2.990)
<RETURNS-OF-CAPITAL>                           0.000
<PER-SHARE-NAV-END>                            22.150
<EXPENSE-RATIO>                                0.8400
<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
<CIK>                         0000802209
<NAME>                        Eclipse Financial Asset Trust
<SERIES>
   <NUMBER>                   3
   <NAME>                     Eclipse Ultra Short Term Income Fund
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   DEC-31-1997
<INVESTMENTS-AT-COST>                          5,360,579
<INVESTMENTS-AT-VALUE>                         5,349,441
<RECEIVABLES>                                  79,373
<ASSETS-OTHER>                                 4,692
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                                 5,433,506
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      40,302
<TOTAL-LIABILITIES>                            40,302
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       5,472,001
<SHARES-COMMON-STOCK>                          539,140
<SHARES-COMMON-PRIOR>                          444,718
<ACCUMULATED-NII-CURRENT>                      0
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        (67,659)
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       (11,138)
<NET-ASSETS>                                   5,393,204
<DIVIDEND-INCOME>                              0
<INTEREST-INCOME>                              315,984
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 0
<NET-INVESTMENT-INCOME>                        315,984
<REALIZED-GAINS-CURRENT>                       (30,742)
<APPREC-INCREASE-CURRENT>                      4,876
<NET-CHANGE-FROM-OPS>                          290,118
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      (316,187)
<DISTRIBUTIONS-OF-GAINS>                       0
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        207,569
<NUMBER-OF-SHARES-REDEEMED>                    (142,566)
<SHARES-REINVESTED>                            29,419
<NET-CHANGE-IN-ASSETS>                         932,683
<ACCUMULATED-NII-PRIOR>                        173
<ACCUMULATED-GAINS-PRIOR>                      (36,917)
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          19,113
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                58,368
<AVERAGE-NET-ASSETS>                           4,778,296
<PER-SHARE-NAV-BEGIN>                          10.030
<PER-SHARE-NII>                                0.640
<PER-SHARE-GAIN-APPREC>                        (0.030)
<PER-SHARE-DIVIDEND>                           (0.640)
<PER-SHARE-DISTRIBUTIONS>                      0.000
<RETURNS-OF-CAPITAL>                           0.000
<PER-SHARE-NAV-END>                            10.000
<EXPENSE-RATIO>                                0.0000
<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
<CIK>                         0000802209
<NAME>                        Eclipse Financial Asset Trust
<SERIES>
   <NUMBER>                   4
   <NAME>                     Eclipse Growth and Income Fund
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   DEC-31-1997
<INVESTMENTS-AT-COST>                          97,655,142
<INVESTMENTS-AT-VALUE>                         109,776,042
<RECEIVABLES>                                  107,536
<ASSETS-OTHER>                                 0
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                                 109,883,578
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      431,971
<TOTAL-LIABILITIES>                            431,971
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       97,330,697
<SHARES-COMMON-STOCK>                          6,161,320
<SHARES-COMMON-PRIOR>                          721,722
<ACCUMULATED-NII-CURRENT>                      10
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        0
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       12,120,900
<NET-ASSETS>                                   109,451,607
<DIVIDEND-INCOME>                              608,518
<INTEREST-INCOME>                              75,130
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 493,820
<NET-INVESTMENT-INCOME>                        189.828
<REALIZED-GAINS-CURRENT>                       456,275
<APPREC-INCREASE-CURRENT>                      10,537,440
<NET-CHANGE-FROM-OPS>                          11,183,543
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      (190,015)
<DISTRIBUTIONS-OF-GAINS>                       (456,282)
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        5,817,969
<NUMBER-OF-SHARES-REDEEMED>                    (415,771)
<SHARES-REINVESTED>                            37,400
<NET-CHANGE-IN-ASSETS>                         99,714,517
<ACCUMULATED-NII-PRIOR>                        147
<ACCUMULATED-GAINS-PRIOR>                      0.00
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          470,307
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                575,899
<AVERAGE-NET-ASSETS>                           52,256,347
<PER-SHARE-NAV-BEGIN>                          13.490
<PER-SHARE-NII>                                0.030
<PER-SHARE-GAIN-APPREC>                        4.340
<PER-SHARE-DIVIDEND>                           (0.030)
<PER-SHARE-DISTRIBUTIONS>                      (0.070)
<RETURNS-OF-CAPITAL>                           0.000
<PER-SHARE-NAV-END>                            17.760
<EXPENSE-RATIO>                                0.9400
<AVG-DEBT-OUTSTANDING>                         0
<AVG-DEBT-PER-SHARE>                           0
        


</TABLE>


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