KEYSTONE STRATEGIC INCOME FUND
NSAR-A, 1996-03-21
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<PAGE>      PAGE  1
000 A000000 01/31/96
000 C000000 0000808330
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 KEYSTONE AMERICA STRATEGIC INCOME FUND
001 B000000 811-4947
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
002 D020000 5034
003  000000 N
004  000000 N
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020 A000001 NEWBRIDGE SECURITIES
020 B000001 13-3214963
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022 A000001 GOLDMAN,SACHS INC.
022 B000001 13-5108880
022 C000001     55129
022 D000001      2049
022 A000002 BEAR STEARNSINCORPORATED
022 B000002 13-3299429
022 C000002     14373
022 D000002     36204
022 A000003 PAINEWEBBER INCORPORATED
022 B000003 13-2638166
022 C000003     23100
022 D000003     14299
022 A000004 MORGAN STANLEY & CO
<PAGE>      PAGE  2
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022 B000005 22-2347336
022 C000005     19000
022 D000005      1326
022 A000006 STIX & CO
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022 D000006     19434
022 A000007 CS FIRST BOSTON
022 B000007 13-5659485
022 C000007     15495
022 D000007      2985
022 A000008 MERRILL LYNCH PIERCE, FENNER & SMITH INC
022 B000008 13-5674085
022 C000008      5461
022 D000008      9803
022 A000009 SALOMON BROTHERS, INC.
022 B000009 13-3082694
022 C000009      1028
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022 A000010 NOMURA SECURITIES INTL
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SIGNATURE   J. KEVIN KENELY                              
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER>	101
<NAME>	KEYSTONE STRATEGIC INCOME FUND CLASS A
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	JUL-31-1996
<PERIOD-START>	AUG-01-1995
<PERIOD-END>	JAN-31-1996
<INVESTMENTS-AT-COST>	256,840,448
<INVESTMENTS-AT-VALUE>	253,613,123
<RECEIVABLES>	11,610,133
<ASSETS-OTHER>	983,057
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	266,206,313
<PAYABLE-FOR-SECURITIES>	2,163,238
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	4,593,066
<TOTAL-LIABILITIES>	6,756,304
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	119,626,610
<SHARES-COMMON-STOCK>	11,422,969
<SHARES-COMMON-PRIOR>	12,482,994
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(730,756)
<ACCUMULATED-NET-GAINS>	(39,779,206)
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	(393,181)
<NET-ASSETS>	78,723,467
<DIVIDEND-INCOME>	0
<INTEREST-INCOME>	3,893,005
<OTHER-INCOME>	40,256
<EXPENSES-NET>	(532,428)
<NET-INVESTMENT-INCOME>	3,400,833
<REALIZED-GAINS-CURRENT>	(61,733)
<APPREC-INCREASE-CURRENT>	202,585
<NET-CHANGE-FROM-OPS>	3,541,685
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(3,485,237)
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	402,208
<NUMBER-OF-SHARES-REDEEMED>	(1,724,419)
<SHARES-REINVESTED>	262,186
<NET-CHANGE-IN-ASSETS>	(7,248,587)
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(646,352)
<OVERDIST-NET-GAINS-PRIOR>	(39,719,660)
<GROSS-ADVISORY-FEES>	(267,927)
<INTEREST-EXPENSE>	(5,192)
<GROSS-EXPENSE>	(532,428)
<AVERAGE-NET-ASSETS>	82,238,524
<PER-SHARE-NAV-BEGIN>	6.89
<PER-SHARE-NII>	0.28
<PER-SHARE-GAIN-APPREC>	0.01
<PER-SHARE-DIVIDEND>	(0.29)
<PER-SHARE-DISTRIBUTIONS>	0.00
<RETURNS-OF-CAPITAL>	0.00
<PER-SHARE-NAV-END>	6.89
<EXPENSE-RATIO>	1.30
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER>	102
<NAME>	KEYSTONE STRATEGIC INCOME FUND CLASS B
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	JUL-31-1996
<PERIOD-START>	AUG-01-1995
<PERIOD-END>	JAN-31-1996
<INVESTMENTS-AT-COST>	256,840,448
<INVESTMENTS-AT-VALUE>	253,613,123
<RECEIVABLES>	11,610,133
<ASSETS-OTHER>	983,057
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	266,206,313
<PAYABLE-FOR-SECURITIES>	2,163,238
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	4,593,066
<TOTAL-LIABILITIES>	6,756,304
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	164,735,988
<SHARES-COMMON-STOCK>	20,526,554
<SHARES-COMMON-PRIOR>	21,533,256
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(442,498)
<ACCUMULATED-NET-GAINS>	(20,517,950)
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	(1,584,594)
<NET-ASSETS>	142,190,946
<DIVIDEND-INCOME>	0
<INTEREST-INCOME>	6,968,102
<OTHER-INCOME>	71,525
<EXPENSES-NET>	(1,522,673)
<NET-INVESTMENT-INCOME>	5,516,954
<REALIZED-GAINS-CURRENT>	(106,821)
<APPREC-INCREASE-CURRENT>	400,443
<NET-CHANGE-FROM-OPS>	5,810,576
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(5,727,826)
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	1,635,578
<NUMBER-OF-SHARES-REDEEMED>	(3,065,411)
<SHARES-REINVESTED>	423,131
<NET-CHANGE-IN-ASSETS>	(6,896,396)
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(231,627)
<OVERDIST-NET-GAINS-PRIOR>	(20,407,520)
<GROSS-ADVISORY-FEES>	(479,738)
<INTEREST-EXPENSE>	(9,319)
<GROSS-EXPENSE>	(1,522,673)
<AVERAGE-NET-ASSETS>	147,196,562
<PER-SHARE-NAV-BEGIN>	6.92
<PER-SHARE-NII>	0.26
<PER-SHARE-GAIN-APPREC>	0.02
<PER-SHARE-DIVIDEND>	(0.27)
<PER-SHARE-DISTRIBUTIONS>	0.00
<RETURNS-OF-CAPITAL>	0.00
<PER-SHARE-NAV-END>	6.93
<EXPENSE-RATIO>	2.07
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER>	103
<NAME>	KEYSTONE STRATEGIC INCOME FUND CLASS C
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	JUL-31-1996
<PERIOD-START>	AUG-01-1995
<PERIOD-END>	JAN-31-1996
<INVESTMENTS-AT-COST>	256,840,448
<INVESTMENTS-AT-VALUE>	253,613,123
<RECEIVABLES>	11,610,133
<ASSETS-OTHER>	983,057
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	266,206,313
<PAYABLE-FOR-SECURITIES>	2,163,238
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	4,593,066
<TOTAL-LIABILITIES>	6,756,304
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	46,471,373
<SHARES-COMMON-STOCK>	5,569,341
<SHARES-COMMON-PRIOR>	6,683,142
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(187,524)
<ACCUMULATED-NET-GAINS>	(6,819,859)
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	(928,394)
<NET-ASSETS>	38,535,596
<DIVIDEND-INCOME>	0
<INTEREST-INCOME>	2,031,276
<OTHER-INCOME>	21,236
<EXPENSES-NET>	(443,563)
<NET-INVESTMENT-INCOME>	1,608,949
<REALIZED-GAINS-CURRENT>	(35,826)
<APPREC-INCREASE-CURRENT>	89,300
<NET-CHANGE-FROM-OPS>	1,662,423
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(1,651,148)
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	268,402
<NUMBER-OF-SHARES-REDEEMED>	(1,533,838)
<SHARES-REINVESTED>	151,635
<NET-CHANGE-IN-ASSETS>	(7,687,148)
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(145,324)
<OVERDIST-NET-GAINS-PRIOR>	(6,785,455)
<GROSS-ADVISORY-FEES>	(139,646)
<INTEREST-EXPENSE>	(2,598)
<GROSS-EXPENSE>	(443,563)
<AVERAGE-NET-ASSETS>	42,895,402
<PER-SHARE-NAV-BEGIN>	6.92
<PER-SHARE-NII>	0.26
<PER-SHARE-GAIN-APPREC>	0.01
<PER-SHARE-DIVIDEND>	(0.27)
<PER-SHARE-DISTRIBUTIONS>	0.00
<RETURNS-OF-CAPITAL>	0.00
<PER-SHARE-NAV-END>	6.92
<EXPENSE-RATIO>	2.07
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0

</TABLE>


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