<PAGE> PAGE 1
000 B000000 10/31/98
000 C000000 810271
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 CONCERT INVESTMENT SERIES
001 B000000 811-5018
001 C000000 2128166556
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 11218
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 EMERGING GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 GROWTH FUND
007 C030200 N
007 C010300 3
007 C020300 GROWTH AND INCOME FUND
007 C030300 N
007 C010400 4
007 C020400 INTERNATIONAL EQUITY FUND
007 C030400 N
007 C010500 5
007 C020500 GOVERNMENT FUND
007 C030500 N
007 C010600 6
007 C020600 MUNICIPAL FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 MUTUAL MANAGEMENT GORP.
008 B00AA01 A
008 C00AA01 801-3389
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10013
010 A00AA01 MUTUAL MANAGEMENT CROP.
<PAGE> PAGE 2
010 B00AA01 801-14437
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10013
011 A00AA01 CFBDS, INC.
011 B00AA01 8-00000000
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
011 C04AA01 5408
012 A00AA01 PFS SHAREHOLDER SERVICES
012 B00AA01 84-0000000
012 C01AA01 DULUTH
012 C02AA01 GA
012 C03AA01 30199
013 A00AA01 ERNST AND YOUNG
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 00000
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 147
019 C00AA00 BARNEY0000
020 A000001 OPPENHEIMER
020 B000001 13-2798343
020 C000001 914
020 A000002 J.P. MORGAN
020 B000002 13-3224016
020 C000002 568
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 554
020 A000004 CS FIRST BOSTON
020 B000004 13-5659485
020 C000004 498
020 A000005 GOLDMAN SACHS
020 B000005 13-5108880
020 C000005 454
020 A000006 PAINE WEBBER
020 B000006 13-2638166
020 C000006 435
020 A000007 MONTGOMERY SECURITIES
020 B000007 N/A
020 C000007 393
020 A000008 SANFORD BERNSTEIN
020 B000008 N/A
020 C000008 333
020 A000009 FURMAN SELZ
020 B000009 N/A
020 C000009 300
020 A000010 COWEN & CO.
<PAGE> PAGE 3
020 B000010 N/A
020 C000010 284
021 000000 4733
022 A000001 CHASE SECURITIES
022 B000001 13-5227302
022 C000001 12779898
022 D000001 2971
022 A000002 MORGAN STANLEY
022 B000002 13-2655998
022 C000002 410397
022 D000002 103521
022 A000003 PAINE WEBBER
022 B000003 13-2638166
022 C000003 157178
022 D000003 102883
022 A000004 DONALDSON, LUFKIN & JENRETTE
022 B000004 13-2741729
022 C000004 31163
022 D000004 53975
022 A000005 GREENWICH CAPITAL
022 B000005 N/A
022 C000005 65011
022 D000005 8256
022 A000006 MERRILL LYNCH
022 B000006 13-5674085
022 C000006 34845
022 D000006 29923
022 A000007 GOLDMAN SACHS
022 B000007 13-5108880
022 C000007 31457
022 D000007 8205
022 A000008 DILLION READ
022 B000008 13-1938216
022 C000008 17439
022 D000008 7964
022 A000009 LEHMAN BROTHERS
022 B000009 13-2518466
022 C000009 20211
022 D000009 4473
022 A000010 WEEDEN & CO.
022 B000010 N/A
022 C000010 16192
022 D000010 0
023 C000000 13563791
023 D000000 322171
024 00AA00 N
027 000000 Y
077 A000000 Y
077 O000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE CO.
<PAGE> PAGE 4
080 C00AA00 105000
081 A00AA00 Y
081 B00AA00 147
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
015 A000101 PNC BANK
015 B000101 C
015 C010101 PHILADELPHIA
015 C020101 PA
015 C030101 19103
015 E010101 X
028 A010100 7746
028 A020100 0
028 A030100 0
028 A040100 4300
028 B010100 14941
028 B020100 0
028 B030100 0
028 B040100 3740
028 C010100 7885
028 C020100 0
028 C030100 0
028 C040100 4710
028 D010100 6257
028 D020100 0
028 D030100 0
028 D040100 3379
028 E010100 6468
028 E020100 0
028 E030100 0
028 E040100 3612
028 F010100 5668
028 F020100 0
028 F030100 0
028 F040100 3920
028 G010100 48965
028 G020100 0
028 G030100 0
028 G040100 23661
028 H000100 1758
029 000100 Y
030 A000100 1758
030 B000100 9.00
030 C000100 5.00
031 A000100 0
<PAGE> PAGE 5
031 B000100 0
032 000100 0
033 000100 1758
034 000100 Y
035 000100 445
036 A000100 Y
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
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 1180
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 1000000
048 A020100 0.650
048 B010100 1000000
048 B020100 0.600
048 C010100 1000000
048 C020100 0.550
048 D010100 1000000
048 D020100 0.500
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 4000000
048 K020100 0.450
062 A000100 N
062 B000100 0.0
062 C000100 0.0
<PAGE> PAGE 6
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 C000100 Y
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 Y
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 Y
<PAGE> PAGE 7
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 206635
071 B000100 156871
071 C000100 195831
071 D000100 80
072 A000100 12
072 B000100 707
072 C000100 613
072 D000100 0
072 E000100 0
072 F000100 1355
072 G000100 0
072 H000100 0
072 I000100 918
072 J000100 31
072 K000100 0
072 L000100 0
072 M000100 32
072 N000100 22
072 O000100 69
072 P000100 0
072 Q000100 0
072 R000100 20
072 S000100 0
072 T000100 1180
072 U000100 4
072 V000100 0
072 W000100 23
072 X000100 3654
072 Y000100 0
072 Z000100 -2334
072AA000100 16246
072BB000100 0
072CC010100 0
072CC020100 32876
072DD010100 0
072DD020100 0
072EE000100 1854
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.2100
073 C000100 0.0000
074 A000100 1
074 B000100 2992
<PAGE> PAGE 8
074 C000100 398
074 D000100 0
074 E000100 0
074 F000100 206569
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 160
074 M000100 29078
074 N000100 239198
074 O000100 2817
074 P000100 186
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 29732
074 S000100 0
074 T000100 206463
074 U010100 5349
074 U020100 5022
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 77449
074 Y000100 0
075 A000100 0
075 B000100 209026
076 000100 0.00
015 A000201 PNC BANK
015 B000201 C
015 C010201 PHILADELPHIA
015 C020201 PA
015 C030201 19103
015 E010201 X
028 A010200 29728
028 A020200 0
028 A030200 0
028 A040200 50813
028 B010200 29440
028 B020200 0
028 B030200 0
028 B040200 55200
028 C010200 31513
028 C020200 0
028 C030200 0
028 C040200 56646
028 D010200 29194
028 D020200 0
<PAGE> PAGE 9
028 D030200 0
028 D040200 49520
028 E010200 30645
028 E020200 0
028 E030200 0
028 E040200 47854
028 F010200 27623
028 F020200 0
028 F030200 0
028 F040200 45661
028 G010200 178143
028 G020200 0
028 G030200 0
028 G040200 305694
028 H000200 141246
029 000200 Y
030 A000200 14626
030 B000200 8.50
030 C000200 0.00
031 A000200 14626
031 B000200 0
032 000200 0
033 000200 0
034 000200 Y
035 000200 552
036 A000200 Y
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
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 1482
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 1000000
048 A020200 0.650
048 B010200 1000000
048 B020200 0.600
048 C010200 1000000
<PAGE> PAGE 10
048 C020200 0.550
048 D010200 1000000
048 D020200 0.500
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 4000000
048 K020200 0.450
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
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 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 D000200 Y
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 Y
070 D020200 N
<PAGE> PAGE 11
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 Y
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 Y
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 4357491
071 B000200 4691958
071 C000200 3852024
071 D000200 113
072 A000200 12
072 B000200 20159
072 C000200 37540
072 D000200 0
072 E000200 0
072 F000200 23344
072 G000200 0
072 H000200 0
072 I000200 6495
072 J000200 208
072 K000200 0
072 L000200 0
072 M000200 279
072 N000200 251
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 33
072 S000200 15
<PAGE> PAGE 12
072 T000200 1962
072 U000200 0
072 V000200 919
072 W000200 167
072 X000200 33673
072 Y000200 0
072 Z000200 24026
072AA000200 363421
072BB000200 0
072CC010200 83971
072CC020200 0
072DD010200 28824
072DD020200 666
072EE000200 612890
073 A010200 0.1700
073 A020200 0.1200
073 B000200 3.4100
073 C000200 0.0000
074 A000200 0
074 B000200 334749
074 C000200 0
074 D000200 118785
074 E000200 5650
074 F000200 3565444
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 540
074 M000200 310708
074 N000200 4335876
074 O000200 6553
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 310764
074 S000200 0
074 T000200 4018559
074 U010200 186688
074 U020200 18585
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 547007
074 Y000200 220871
075 A000200 0
075 B000200 4095398
076 000200 0.00
<PAGE> PAGE 13
015 A000301 PNC BANK
015 B000301 C
015 C010301 PHILADELPHIA
015 C020301 PA
015 C030301 09103
015 E010301 X
028 A010300 14307
028 A020300 0
028 A030300 0
028 A040300 21448
028 B010300 15487
028 B020300 2827
028 B030300 0
028 B040300 21030
028 C010300 13567
028 C020300 0
028 C030300 0
028 C040300 22505
028 D010300 12797
028 D020300 0
028 D030300 0
028 D040300 18552
028 E010300 13515
028 E020300 1884
028 E030300 0
028 E040300 19828
028 F010300 11372
028 F020300 0
028 F030300 0
028 F040300 18475
028 G010300 81045
028 G020300 4711
028 G030300 0
028 G040300 121838
028 H000300 54026
029 000300 Y
030 A000300 4605
030 B000300 8.50
030 C000300 0.00
031 A000300 4605
031 B000300 0
032 000300 0
033 000300 0
034 000300 Y
035 000300 485
036 A000300 Y
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
<PAGE> PAGE 14
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 675
044 000300 0
045 000300 Y
046 000300 Y
047 000300 Y
048 000300 0.000
048 A010300 1000000
048 A020300 0.650
048 B010300 1000000
048 B020300 0.600
048 C010300 1000000
048 C020300 0.550
048 D010300 1000000
048 D020300 0.500
048 E010300 1000000
048 E020300 0.450
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
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
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
<PAGE> PAGE 15
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 E000300 Y
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
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 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 Y
070 O010300 N
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 549798
071 B000300 458042
071 C000300 1336311
<PAGE> PAGE 16
071 D000300 34
072 A000300 12
072 B000300 5259
072 C000300 17995
072 D000300 0
072 E000300 0
072 F000300 8627
072 G000300 0
072 H000300 0
072 I000300 1876
072 J000300 64
072 K000300 0
072 L000300 0
072 M000300 104
072 N000300 122
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 28
072 S000300 6
072 T000300 1482
072 U000300 0
072 V000300 348
072 W000300 22
072 X000300 12679
072 Y000300 0
072 Z000300 10575
072AA000300 53525
072BB000300 0
072CC010300 72944
072CC020300 0
072DD010300 10703
072DD020300 922
072EE000300 206848
073 A010300 0.0000
073 A020300 0.0000
073 B000300 3.2500
073 C000300 0.0000
074 A000300 0
074 B000300 2493
074 C000300 0
074 D000300 62231
074 E000300 12082
074 F000300 1261998
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 2245
074 K000300 0
074 L000300 1374
074 M000300 114960
<PAGE> PAGE 17
074 N000300 1457383
074 O000300 0
074 P000300 679
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 117094
074 S000300 0
074 T000300 1339610
074 U010300 58201
074 U020300 14110
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 140033
074 Y000300 0
075 A000300 0
075 B000300 1358208
076 000300 0.00
015 A000401 CHASE MANHATTAN BANK
015 B000401 C
015 C010401 BROOKLYN
015 C020401 NY
015 C030401 11245
015 E010401 X
028 A010400 1212
028 A020400 0
028 A030400 0
028 A040400 691
028 B010400 1417
028 B020400 0
028 B030400 0
028 B040400 611
028 C010400 1793
028 C020400 0
028 C030400 0
028 C040400 559
028 D010400 1777
028 D020400 0
028 D030400 0
028 D040400 540
028 E010400 1534
028 E020400 0
028 E030400 0
028 E040400 706
028 F010400 1234
028 F020400 0
028 F030400 0
028 F040400 692
028 G010400 8967
<PAGE> PAGE 18
028 G020400 0
028 G030400 0
028 G040400 3799
028 H000400 6599
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
034 000400 Y
035 000400 63
036 A000400 Y
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 100
043 000400 214
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 1.000
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
<PAGE> PAGE 19
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 N
055 A000400 N
055 B000400 N
056 000400 N
057 000400 N
058 A000400 N
059 000400 N
060 A000400 Y
060 B000400 Y
061 000400 1
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
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 E000400 Y
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
<PAGE> PAGE 20
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 Y
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 29012
071 B000400 23394
071 C000400 37128
071 D000400 63
072 A000400 12
072 B000400 45
072 C000400 219
072 D000400 0
072 E000400 0
072 F000400 377
072 G000400 0
072 H000400 0
072 I000400 180
072 J000400 45
072 K000400 0
072 L000400 52
072 M000400 15
072 N000400 15
072 O000400 0
072 P000400 0
<PAGE> PAGE 21
072 Q000400 0
072 R000400 26
072 S000400 0
072 T000400 214
072 U000400 4
072 V000400 1
072 W000400 20
072 X000400 949
072 Y000400 0
072 Z000400 -685
072AA000400 660
072BB000400 0
072CC010400 717
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 59
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 39850
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 65
074 M000400 13
074 N000400 39987
074 O000400 9
074 P000400 29
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 650
074 S000400 0
074 T000400 39299
074 U010400 108
074 U020400 1991
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 13422
074 Y000400 0
<PAGE> PAGE 22
075 A000400 0
075 B000400 37589
076 000400 0.00
015 A000501 PNC BANK
015 B000501 C
015 C010501 PHILADELPHIA
015 C020501 PA
015 C030501 09103
015 E010501 X
028 A010500 1664
028 A020500 0
028 A030500 0
028 A040500 4676
028 B010500 2262
028 B020500 2517
028 B030500 0
028 B040500 6752
028 C010500 1983
028 C020500 0
028 C030500 0
028 C040500 5786
028 D010500 1986
028 D020500 2461
028 D030500 0
028 D040500 5411
028 E010500 3055
028 E020500 1221
028 E030500 0
028 E040500 5424
028 F010500 2093
028 F020500 1214
028 F030500 0
028 F040500 4239
028 G010500 13043
028 G020500 7413
028 G030500 0
028 G040500 32288
028 H000500 4862
029 000500 Y
030 A000500 573
030 B000500 6.75
030 C000500 0.00
031 A000500 573
031 B000500 0
032 000500 0
033 000500 0
034 000500 Y
035 000500 0
036 A000500 Y
036 B000500 0
037 000500 N
<PAGE> PAGE 23
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 83
044 000500 0
045 000500 Y
046 000500 Y
047 000500 Y
048 000500 0.000
048 A010500 1000000
048 A020500 0.600
048 B010500 1000000
048 B020500 0.550
048 C010500 1000000
048 C020500 0.500
048 D010500 1000000
048 D020500 0.450
048 E010500 1000000
048 E020500 0.400
048 F010500 5000000
048 F020500 0.350
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
062 A000500 Y
062 B000500 9.1
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
062 K000500 0.0
<PAGE> PAGE 24
062 L000500 0.0
062 M000500 31.0
062 N000500 59.9
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 17.8
064 A000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 Y
070 D010500 N
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 Y
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
<PAGE> PAGE 25
071 A000500 396908
071 B000500 363492
071 C000500 257212
071 D000500 141
072 A000500 12
072 B000500 17491
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 1524
072 G000500 0
072 H000500 0
072 I000500 391
072 J000500 15
072 K000500 0
072 L000500 95
072 M000500 31
072 N000500 68
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 20
072 S000500 7
072 T000500 173
072 U000500 0
072 V000500 0
072 W000500 49
072 X000500 2375
072 Y000500 0
072 Z000500 15116
072AA000500 11060
072BB000500 0
072CC010500 0
072CC020500 8551
072DD010500 926
072DD020500 14764
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 24125
074 C000500 0
074 D000500 240167
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 32919
<PAGE> PAGE 26
074 K000500 0
074 L000500 1948
074 M000500 83
074 N000500 299242
074 O000500 56776
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 968
074 S000500 0
074 T000500 241498
074 U010500 1608
074 U020500 21047
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 23048
074 Y000500 65350
075 A000500 0
075 B000500 250491
076 000500 0.00
015 A000601 PNC BANK
015 B000601 C
015 C010601 PHILADELPHIA
015 C020601 PA
015 C030601 09103
015 E010601 X
028 A010600 2136
028 A020600 0
028 A030600 0
028 A040600 2743
028 B010600 2219
028 B020600 865
028 B030600 0
028 B040600 2738
028 C010600 2094
028 C020600 0
028 C030600 0
028 C040600 2859
028 D010600 2600
028 D020600 862
028 D030600 0
028 D040600 2710
028 E010600 2741
028 E020600 433
028 E030600 0
028 E040600 3007
028 F010600 2682
028 F020600 0
<PAGE> PAGE 27
028 F030600 0
028 F040600 2984
028 G010600 14472
028 G020600 2160
028 G030600 0
028 G040600 17041
028 H000600 0
029 000600 Y
030 A000600 684
030 B000600 4.75
030 C000600 0.00
031 A000600 684
031 B000600 0
032 000600 0
033 000600 0
034 000600 Y
035 000600 27
036 A000600 N
036 B000600 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 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 69
044 000600 0
045 000600 Y
046 000600 Y
047 000600 Y
048 000600 0.000
048 A010600 1000000
048 A020600 0.600
048 B010600 1000000
048 B020600 0.550
048 C010600 1000000
048 C020600 0.500
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
<PAGE> PAGE 28
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 3000000
048 K020600 0.450
055 A000600 N
055 B000600 N
056 000600 N
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 0
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 1.6
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 2.3
062 M000600 0.0
062 N000600 0.0
062 O000600 96.1
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 16.5
064 A000600 Y
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 Y
070 C020600 N
<PAGE> PAGE 29
070 D010600 N
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 31688
071 B000600 43103
071 C000600 112351
071 D000600 28
072 A000600 12
072 B000600 6586
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 688
072 G000600 0
072 H000600 0
072 I000600 232
072 J000600 13
072 K000600 0
072 L000600 57
072 M000600 16
072 N000600 96
072 O000600 0
072 P000600 0
072 Q000600 0
<PAGE> PAGE 30
072 R000600 23
072 S000600 0
072 T000600 68
072 U000600 0
072 V000600 0
072 W000600 23
072 X000600 1216
072 Y000600 0
072 Z000600 5370
072AA000600 1959
072BB000600 0
072CC010600 601
072CC020600 0
072DD010600 4582
072DD020600 539
072EE000600 1049
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.1302
073 C000600 0.0000
074 A000600 56
074 B000600 0
074 C000600 1800
074 D000600 110978
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 1204
074 K000600 0
074 L000600 1840
074 M000600 23
074 N000600 115901
074 O000600 0
074 P000600 65
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 403
074 S000600 0
074 T000600 115433
074 U010600 6502
074 U020600 1510
074 V010600 0.00
074 V020600 0.00
074 W000600 0.0000
074 X000600 0
074 Y000600 5537
075 A000600 0
<PAGE> PAGE 31
075 B000600 114679
076 000600 0.00
SIGNATURE PAUL BROOK
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 1
[NAME] EMERGING GROWTH FUND. CLASS 1
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 202,661,344
[INVESTMENTS-AT-VALUE] 209,959,425
[RECEIVABLES] 160,175
[ASSETS-OTHER] 8,555
[OTHER-ITEMS-ASSETS] 29,070,230
[TOTAL-ASSETS] 239,189,385
[PAYABLE-FOR-SECURITIES] 2,817,258
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 29,917,754
[TOTAL-LIABILITIES] 32,735,012
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 182,959,176
[SHARES-COMMON-STOCK] 359,359
[SHARES-COMMON-PRIOR] 276,032
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 13,984
[ACCUMULATED-NET-GAINS] 16,220,100
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,298,081
[NET-ASSETS] 206,463,373
[DIVIDEND-INCOME] 613,506
[INTEREST-INCOME] 706,723
[OTHER-INCOME] 0
[EXPENSES-NET] 3,654,404
[NET-INVESTMENT-INCOME] (2,334,175)
[REALIZED-GAINS-CURRENT] 16,246,245
[APPREC-INCREASE-CURRENT] (32,876,137)
[NET-CHANGE-FROM-OPS] (18,964,067)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 61,270
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,502,284
[NUMBER-OF-SHARES-REDEEMED] 69,885
[SHARES-REINVESTED] 2,928
[NET-CHANGE-IN-ASSETS] 20,064,736
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 1,828,333
[OVERDISTRIB-NII-PRIOR] 2,504
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,354,479
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,654,404
[AVERAGE-NET-ASSETS] 7,207,355
[PER-SHARE-NAV-BEGIN] 22.15
[PER-SHARE-NII] (0.12)
[PER-SHARE-GAIN-APPREC] (1.54)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.21
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 20.28
[EXPENSE-RATIO] 01.26
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 1
[NAME] EMERGING GROWTH FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 202,661,344
[INVESTMENTS-AT-VALUE] 209,959,425
[RECEIVABLES] 160,175
[ASSETS-OTHER] 8,555
[OTHER-ITEMS-ASSETS] 29,070,230
[TOTAL-ASSETS] 239,189,385
[PAYABLE-FOR-SECURITIES] 2,817,258
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 29,917,754
[TOTAL-LIABILITIES] 32,735,012
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 182,959,176
[SHARES-COMMON-STOCK] 5,348,975
[SHARES-COMMON-PRIOR] 4,555,287
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 13,984
[ACCUMULATED-NET-GAINS] 16,220,100
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,298,081
[NET-ASSETS] 206,463,373
[DIVIDEND-INCOME] 613,506
[INTEREST-INCOME] 706,723
[OTHER-INCOME] 0
[EXPENSES-NET] 3,654,404
[NET-INVESTMENT-INCOME] (2,334,175)
[REALIZED-GAINS-CURRENT] 16,246,245
[APPREC-INCREASE-CURRENT] (32,876,137)
[NET-CHANGE-FROM-OPS] (18,964,067)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 989,700
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,902,295
[NUMBER-OF-SHARES-REDEEMED] 1,156,107
[SHARES-REINVESTED] 47,590
[NET-CHANGE-IN-ASSETS] 20,064,736
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 1,828,333
[OVERDISTRIB-NII-PRIOR] 2,504
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,354,479
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,654,404
[AVERAGE-NET-ASSETS] 111,211,772
[PER-SHARE-NAV-BEGIN] 22.08
[PER-SHARE-NII] (0.17)
[PER-SHARE-GAIN-APPREC] (1.55)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.21
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 20.15
[EXPENSE-RATIO] 01.43
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 1
[NAME] EMERGING GROWTH FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 202,661,344
[INVESTMENTS-AT-VALUE] 209,959,425
[RECEIVABLES] 160,175
[ASSETS-OTHER] 8,555
[OTHER-ITEMS-ASSETS] 29,070,230
[TOTAL-ASSETS] 239,189,385
[PAYABLE-FOR-SECURITIES] 2,817,258
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 29,917,754
[TOTAL-LIABILITIES] 32,735,012
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 182,959,176
[SHARES-COMMON-STOCK] 4,663,477
[SHARES-COMMON-PRIOR] 3,684,878
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 13,984
[ACCUMULATED-NET-GAINS] 16,220,100
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,298,081
[NET-ASSETS] 206,463,373
[DIVIDEND-INCOME] 613,506
[INTEREST-INCOME] 706,723
[OTHER-INCOME] 0
[EXPENSES-NET] 3,654,404
[NET-INVESTMENT-INCOME] (2,334,175)
[REALIZED-GAINS-CURRENT] 16,246,245
[APPREC-INCREASE-CURRENT] (32,876,137)
[NET-CHANGE-FROM-OPS] (18,964,067)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 803,508
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,747,097
[NUMBER-OF-SHARES-REDEEMED] 810,261
[SHARES-REINVESTED] 41,763
[NET-CHANGE-IN-ASSETS] 20,064,736
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 1,828,333
[OVERDISTRIB-NII-PRIOR] 2,504
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,354,479
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,654,404
[AVERAGE-NET-ASSETS] 90,607,241
[PER-SHARE-NAV-BEGIN] 21.63
[PER-SHARE-NII] (0.30)
[PER-SHARE-GAIN-APPREC] (1.52)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.21
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 19.60
[EXPENSE-RATIO] 02.18
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 2
[NAME] GROWTH FUND. CLASS 1
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 3,238,491,562
[INVESTMENTS-AT-VALUE] 4,024,628,163
[RECEIVABLES] 8,162,832
[ASSETS-OTHER] 303,085,009
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 4,335,876,004
[PAYABLE-FOR-SECURITIES] 6,553,009
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 310,764,135
[TOTAL-LIABILITIES] 317,317,144
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,846,885,958
[SHARES-COMMON-STOCK] 186,668,072
[SHARES-COMMON-PRIOR] 169,366,980
[ACCUMULATED-NII-CURRENT] 18,724,593
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 352,711,708
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 800,236,601
[NET-ASSETS] 4,018,558,860
[DIVIDEND-INCOME] 37,539,577
[INTEREST-INCOME] 20,159,296
[OTHER-INCOME] (234,468)
[EXPENSES-NET] 33,672,559
[NET-INVESTMENT-INCOME] 23,791,846
[REALIZED-GAINS-CURRENT] 363,421,052
[APPREC-INCREASE-CURRENT] 83,970,624
[NET-CHANGE-FROM-OPS] 471,183,522
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 28,824,504
[DISTRIBUTIONS-OF-GAINS] 572,931,728
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 10,240,715
[NUMBER-OF-SHARES-REDEEMED] 26,781,677
[SHARES-REINVESTED] 33,842,054
[NET-CHANGE-IN-ASSETS] 236,689,746
[ACCUMULATED-NII-PRIOR] 22,702,297
[ACCUMULATED-GAINS-PRIOR] 603,678,844
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 23,343,634
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 33,672,559
[AVERAGE-NET-ASSETS] 3,786,498,612
[PER-SHARE-NAV-BEGIN] 20.94
[PER-SHARE-NII] (00.13)
[PER-SHARE-GAIN-APPREC] 02.10
[PER-SHARE-DIVIDEND] 00.17
[PER-SHARE-DISTRIBUTIONS] 03.41
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 19.59
[EXPENSE-RATIO] 00.78
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 2
[NAME] GROWTH FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 3,238,491,562
[INVESTMENTS-AT-VALUE] 4,024,628,163
[RECEIVABLES] 8,162,832
[ASSETS-OTHER] 303,085,009
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 4,335,876,004
[PAYABLE-FOR-SECURITIES] 6,553,009
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 310,764,135
[TOTAL-LIABILITIES] 317,317,144
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,846,885,958
[SHARES-COMMON-STOCK] 9,202,418
[SHARES-COMMON-PRIOR] 5,193,124
[ACCUMULATED-NII-CURRENT] 18,724,593
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 352,711,708
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 800,236,601
[NET-ASSETS] 4,018,558,860
[DIVIDEND-INCOME] 37,539,577
[INTEREST-INCOME] 20,159,296
[OTHER-INCOME] (234,468)
[EXPENSES-NET] 33,672,559
[NET-INVESTMENT-INCOME] 23,791,846
[REALIZED-GAINS-CURRENT] 363,421,052
[APPREC-INCREASE-CURRENT] 83,970,624
[NET-CHANGE-FROM-OPS] 471,183,522
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 666,313
[DISTRIBUTIONS-OF-GAINS] 18,542,273
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 4,476,613
[NUMBER-OF-SHARES-REDEEMED] 1,552,856
[SHARES-REINVESTED] 1,085,537
[NET-CHANGE-IN-ASSETS] 236,689,746
[ACCUMULATED-NII-PRIOR] 22,702,297
[ACCUMULATED-GAINS-PRIOR] 603,678,844
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 23,343,634
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 33,672,559
[AVERAGE-NET-ASSETS] 149,370,926
[PER-SHARE-NAV-BEGIN] 20.89
[PER-SHARE-NII] 00.05
[PER-SHARE-GAIN-APPREC] 02.13
[PER-SHARE-DIVIDEND] 00.12
[PER-SHARE-DISTRIBUTIONS] 03.41
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 19.54
[EXPENSE-RATIO] 01.02
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 2
[NAME] GROWTH FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 3,238,491,562
[INVESTMENTS-AT-VALUE] 4,024,628,163
[RECEIVABLES] 8,162,832
[ASSETS-OTHER] 303,085,009
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 4,335,876,004
[PAYABLE-FOR-SECURITIES] 6,553,009
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 310,764,135
[TOTAL-LIABILITIES] 317,317,144
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,846,885,958
[SHARES-COMMON-STOCK] 9,382,856
[SHARES-COMMON-PRIOR] 6,083,077
[ACCUMULATED-NII-CURRENT] 18,724,593
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 352,711,708
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 800,236,601
[NET-ASSETS] 4,018,558,860
[DIVIDEND-INCOME] 37,539,577
[INTEREST-INCOME] 20,159,296
[OTHER-INCOME] (234,468)
[EXPENSES-NET] 33,672,559
[NET-INVESTMENT-INCOME] 23,791,846
[REALIZED-GAINS-CURRENT] 363,421,052
[APPREC-INCREASE-CURRENT] 83,970,624
[NET-CHANGE-FROM-OPS] 471,183,522
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 21,415,897
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,470,083
[NUMBER-OF-SHARES-REDEEMED] 1,381,729
[SHARES-REINVESTED] 1,211,425
[NET-CHANGE-IN-ASSETS] 236,689,746
[ACCUMULATED-NII-PRIOR] 22,702,297
[ACCUMULATED-GAINS-PRIOR] 603,678,844
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 23,343,634
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 33,672,559
[AVERAGE-NET-ASSETS] 159,528,059
[PER-SHARE-NAV-BEGIN] 20.75
[PER-SHARE-NII] (00.11)
[PER-SHARE-GAIN-APPREC] 02.14
[PER-SHARE-DIVIDEND] 00.00
[PER-SHARE-DISTRIBUTIONS] 03.41
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 19.37
[EXPENSE-RATIO] 01.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 3
[NAME] GROWTH AND INCOME FUND. CLASS 1
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 1,055,872,344
[INVESTMENTS-AT-VALUE] 1,338,803,941
[RECEIVABLES] 3,619,121
[ASSETS-OTHER] 114,959,987
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,457,383,049
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 117,773,471
[TOTAL-LIABILITIES] 117,773,471
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,003,266,514
[SHARES-COMMON-STOCK] 58,201,064
[SHARES-COMMON-PRIOR] 54,584,869
[ACCUMULATED-NII-CURRENT] (58,299)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 53,525,051
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 282,931,597
[NET-ASSETS] 1,339,609,578
[DIVIDEND-INCOME] 18,183,196
[INTEREST-INCOME] 5,070,940
[OTHER-INCOME] 0
[EXPENSES-NET] 12,679,133
[NET-INVESTMENT-INCOME] 10,575,003
[REALIZED-GAINS-CURRENT] 53,525,051
[APPREC-INCREASE-CURRENT] 72,944,136
[NET-CHANGE-FROM-OPS] 137,044,190
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 10,703,184
[DISTRIBUTIONS-OF-GAINS] 176,186,642
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,929,819
[NUMBER-OF-SHARES-REDEEMED] 10,065,660
[SHARES-REINVESTED] 10,752,036
[NET-CHANGE-IN-ASSETS] 249,064,793
[ACCUMULATED-NII-PRIOR] 991,411
[ACCUMULATED-GAINS-PRIOR] 206,793,123
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 8,627,108
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 12,679,133
[AVERAGE-NET-ASSETS] 1,130,553,803
[PER-SHARE-NAV-BEGIN] 20.10
[PER-SHARE-NII] 00.18
[PER-SHARE-GAIN-APPREC] 01.70
[PER-SHARE-DIVIDEND] 00.20
[PER-SHARE-DISTRIBUTIONS] 03.25
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 18.53
[EXPENSE-RATIO] 00.90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 3
[NAME] GROWTH AND INCOME FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 1,055,872,344
[INVESTMENTS-AT-VALUE] 1,338,803,941
[RECEIVABLES] 3,619,121
[ASSETS-OTHER] 114,959,987
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,457,383,049
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 117,773,471
[TOTAL-LIABILITIES] 117,773,471
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,003,266,514
[SHARES-COMMON-STOCK] 6,715,215
[SHARES-COMMON-PRIOR] 3,972,090
[ACCUMULATED-NII-CURRENT] (58,299)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 53,525,051
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 282,931,597
[NET-ASSETS] 1,339,609,578
[DIVIDEND-INCOME] 18,183,196
[INTEREST-INCOME] 5,070,940
[OTHER-INCOME] 0
[EXPENSES-NET] 12,679,133
[NET-INVESTMENT-INCOME] 10,575,003
[REALIZED-GAINS-CURRENT] 53,525,051
[APPREC-INCREASE-CURRENT] 72,944,136
[NET-CHANGE-FROM-OPS] 137,044,190
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 762,386
[DISTRIBUTIONS-OF-GAINS] 13,915,165
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,128,961
[NUMBER-OF-SHARES-REDEEMED] 1,236,598
[SHARES-REINVESTED] 850,762
[NET-CHANGE-IN-ASSETS] 249,064,793
[ACCUMULATED-NII-PRIOR] 991,411
[ACCUMULATED-GAINS-PRIOR] 206,793,123
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 8,627,108
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 12,679,133
[AVERAGE-NET-ASSETS] 105,562,424
[PER-SHARE-NAV-BEGIN] 20.10
[PER-SHARE-NII] (00.02)
[PER-SHARE-GAIN-APPREC] 01.85
[PER-SHARE-DIVIDEND] 00.15
[PER-SHARE-DISTRIBUTIONS] 03.25
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 18.53
[EXPENSE-RATIO] 01.07
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 3
[NAME] GROWTH AND INCOME FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 1,055,872,344
[INVESTMENTS-AT-VALUE] 1,338,803,941
[RECEIVABLES] 3,619,121
[ASSETS-OTHER] 114,959,987
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,457,383,049
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 117,773,471
[TOTAL-LIABILITIES] 117,773,471
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,003,266,514
[SHARES-COMMON-STOCK] 7,394,916
[SHARES-COMMON-PRIOR] 4,953,823
[ACCUMULATED-NII-CURRENT] (58,299)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 53,525,051
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 282,931,597
[NET-ASSETS] 1,339,609,578
[DIVIDEND-INCOME] 18,183,196
[INTEREST-INCOME] 5,070,940
[OTHER-INCOME] 0
[EXPENSES-NET] 12,679,133
[NET-INVESTMENT-INCOME] 10,575,003
[REALIZED-GAINS-CURRENT] 53,525,051
[APPREC-INCREASE-CURRENT] 72,944,136
[NET-CHANGE-FROM-OPS] 137,044,190
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 159,143
[DISTRIBUTIONS-OF-GAINS] 16,836,870
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,792,516
[NUMBER-OF-SHARES-REDEEMED] 1,325,667
[SHARES-REINVESTED] 974,244
[NET-CHANGE-IN-ASSETS] 249,064,793
[ACCUMULATED-NII-PRIOR] 991,411
[ACCUMULATED-GAINS-PRIOR] 206,793,123
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 8,627,108
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 12,679,133
[AVERAGE-NET-ASSETS] 122,091,709
[PER-SHARE-NAV-BEGIN] 20.07
[PER-SHARE-NII] (00.01)
[PER-SHARE-GAIN-APPREC] 01.71
[PER-SHARE-DIVIDEND] 00.04
[PER-SHARE-DISTRIBUTIONS] 03.25
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 18.48
[EXPENSE-RATIO] 01.81
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 4
[NAME] INTERNATIONAL EQUITY FUND. CLASS 1
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 32,758,042
[INVESTMENTS-AT-VALUE] 39,849,789
[RECEIVABLES] 65,062
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 72,562
[TOTAL-ASSETS] 39,987,413
[PAYABLE-FOR-SECURITIES] 422,597
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 266,297
[TOTAL-LIABILITIES] 688,894
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 32,455,225
[SHARES-COMMON-STOCK] 108,125
[SHARES-COMMON-PRIOR] 90,545
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 24,826
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 226,547
[ACCUM-APPREC-OR-DEPREC] 7,094,667
[NET-ASSETS] 39,298,519
[DIVIDEND-INCOME] 218,775
[INTEREST-INCOME] 45,142
[OTHER-INCOME] 0
[EXPENSES-NET] 948,641
[NET-INVESTMENT-INCOME] (684,724)
[REALIZED-GAINS-CURRENT] 660,236
[APPREC-INCREASE-CURRENT] 716,646
[NET-CHANGE-FROM-OPS] 692,158
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 39,075
[NUMBER-OF-SHARES-REDEEMED] 21,495
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 7,164,093
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (394)
[OVERDIST-NET-GAINS-PRIOR] (910,647)
[GROSS-ADVISORY-FEES] 376,585
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 948,641
[AVERAGE-NET-ASSETS] 19,039,278
[PER-SHARE-NAV-BEGIN] 18.16
[PER-SHARE-NII] (0.21)
[PER-SHARE-GAIN-APPREC] 01.11
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 19.06
[EXPENSE-RATIO] 01.79
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 4
[NAME] INTERNATIONAL EQUITY FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 32,758,042
[INVESTMENTS-AT-VALUE] 39,849,789
[RECEIVABLES] 65,062
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 72,562
[TOTAL-ASSETS] 39,987,413
[PAYABLE-FOR-SECURITIES] 422,597
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 266,297
[TOTAL-LIABILITIES] 688,894
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 32,455,225
[SHARES-COMMON-STOCK] 1,038,393
[SHARES-COMMON-PRIOR] 913,789
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 24,826
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 226,547
[ACCUM-APPREC-OR-DEPREC] 7,094,667
[NET-ASSETS] 39,298,519
[DIVIDEND-INCOME] 218,775
[INTEREST-INCOME] 45,142
[OTHER-INCOME] 0
[EXPENSES-NET] 948,641
[NET-INVESTMENT-INCOME] (684,724)
[REALIZED-GAINS-CURRENT] 660,236
[APPREC-INCREASE-CURRENT] 716,646
[NET-CHANGE-FROM-OPS] 692,158
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 322,280
[NUMBER-OF-SHARES-REDEEMED] 197,676
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 7,164,093
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (394)
[OVERDIST-NET-GAINS-PRIOR] (910,647)
[GROSS-ADVISORY-FEES] 376,585
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 948,641
[AVERAGE-NET-ASSETS] 16,601,057
[PER-SHARE-NAV-BEGIN] 18.14
[PER-SHARE-NII] (0.27)
[PER-SHARE-GAIN-APPREC] 01.07
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 18.94
[EXPENSE-RATIO] 02.25
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 4
[NAME] INTERNATIONAL EQUITY FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 32,758,042
[INVESTMENTS-AT-VALUE] 39,849,789
[RECEIVABLES] 65,062
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 72,562
[TOTAL-ASSETS] 39,987,413
[PAYABLE-FOR-SECURITIES] 422,597
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 266,297
[TOTAL-LIABILITIES] 688,894
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 32,455,225
[SHARES-COMMON-STOCK] 953,030
[SHARES-COMMON-PRIOR] 718,557
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 24,826
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 226,547
[ACCUM-APPREC-OR-DEPREC] 7,094,667
[NET-ASSETS] 39,298,519
[DIVIDEND-INCOME] 218,775
[INTEREST-INCOME] 45,142
[OTHER-INCOME] 0
[EXPENSES-NET] 948,641
[NET-INVESTMENT-INCOME] (684,724)
[REALIZED-GAINS-CURRENT] 660,236
[APPREC-INCREASE-CURRENT] 716,646
[NET-CHANGE-FROM-OPS] 692,158
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 331,033
[NUMBER-OF-SHARES-REDEEMED] 159,560
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 7,164,093
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (394)
[OVERDIST-NET-GAINS-PRIOR] (910,647)
[GROSS-ADVISORY-FEES] 376,585
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 948,641
[AVERAGE-NET-ASSETS] 1,948,846
[PER-SHARE-NAV-BEGIN] 17.81
[PER-SHARE-NII] (0.39)
[PER-SHARE-GAIN-APPREC] 01.02
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 18.44
[EXPENSE-RATIO] 03.11
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 5
[NAME] GOVERNMENT FUND. CLASS 1
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 262,938,884
[INVESTMENTS-AT-VALUE] 264,291,800
[RECEIVABLES] 34,866,483
[ASSETS-OTHER] 83,359
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 299,241,642
[PAYABLE-FOR-SECURITIES] 56,775,555
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 968,844
[TOTAL-LIABILITIES] 57,744,399
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 267,000,504
[SHARES-COMMON-STOCK] 19,702,603
[SHARES-COMMON-PRIOR] 22,741,103
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (294,788)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 26,787,943
[ACCUM-APPREC-OR-DEPREC] 1,352,916
[NET-ASSETS] 241,497,243
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 17,490,715
[OTHER-INCOME] 0
[EXPENSES-NET] 2,373,405
[NET-INVESTMENT-INCOME] 15,117,310
[REALIZED-GAINS-CURRENT] 11,059,633
[APPREC-INCREASE-CURRENT] (8,550,556)
[NET-CHANGE-FROM-OPS] 17,626,387
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 14,061,027
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,105,624
[NUMBER-OF-SHARES-REDEEMED] 15,430,883
[SHARES-REINVESTED] 1,286,759
[NET-CHANGE-IN-ASSETS] (25,064,962)
[ACCUMULATED-NII-PRIOR] 277,980
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (37,847,576)
[GROSS-ADVISORY-FEES] 1,523,613
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,373,405
[AVERAGE-NET-ASSETS] 221,723,848
[PER-SHARE-NAV-BEGIN] 10.58
[PER-SHARE-NII] 00.65
[PER-SHARE-GAIN-APPREC] 00.10
[PER-SHARE-DIVIDEND] 00.67
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.66
[EXPENSE-RATIO] 00.88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 5
[NAME] GOVERNMENT FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 262,938,884
[INVESTMENTS-AT-VALUE] 264,291,800
[RECEIVABLES] 34,866,483
[ASSETS-OTHER] 83,359
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 299,241,642
[PAYABLE-FOR-SECURITIES] 56,775,555
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 968,844
[TOTAL-LIABILITIES] 57,744,399
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 267,000,504
[SHARES-COMMON-STOCK] 1,608,343
[SHARES-COMMON-PRIOR] 1,278,958
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (294,788)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 26,787,943
[ACCUM-APPREC-OR-DEPREC] 1,352,916
[NET-ASSETS] 241,497,243
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 17,490,715
[OTHER-INCOME] 0
[EXPENSES-NET] 2,373,405
[NET-INVESTMENT-INCOME] 15,117,310
[REALIZED-GAINS-CURRENT] 11,059,633
[APPREC-INCREASE-CURRENT] (8,550,556)
[NET-CHANGE-FROM-OPS] 17,626,387
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 926,413
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 901,331
[NUMBER-OF-SHARES-REDEEMED] 658,405
[SHARES-REINVESTED] 86,459
[NET-CHANGE-IN-ASSETS] (25,064,962)
[ACCUMULATED-NII-PRIOR] 277,980
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (37,847,576)
[GROSS-ADVISORY-FEES] 1,523,613
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,373,405
[AVERAGE-NET-ASSETS] 15,393,397
[PER-SHARE-NAV-BEGIN] 10.58
[PER-SHARE-NII] 00.61
[PER-SHARE-GAIN-APPREC] 00.11
[PER-SHARE-DIVIDEND] 00.64
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.66
[EXPENSE-RATIO] 01.12
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 5
[NAME] GOVERNMENT FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 262,938,884
[INVESTMENTS-AT-VALUE] 264,291,800
[RECEIVABLES] 34,866,483
[ASSETS-OTHER] 83,359
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 299,241,642
[PAYABLE-FOR-SECURITIES] 56,775,555
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 968,844
[TOTAL-LIABILITIES] 57,744,399
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 267,000,504
[SHARES-COMMON-STOCK] 1,344,435
[SHARES-COMMON-PRIOR] 1,169,696
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (294,788)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 26,787,943
[ACCUM-APPREC-OR-DEPREC] 1,352,916
[NET-ASSETS] 241,497,243
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 17,490,715
[OTHER-INCOME] 0
[EXPENSES-NET] 2,373,405
[NET-INVESTMENT-INCOME] 15,117,310
[REALIZED-GAINS-CURRENT] 11,059,633
[APPREC-INCREASE-CURRENT] (8,550,556)
[NET-CHANGE-FROM-OPS] 17,626,387
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 702,638
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 501,510
[NUMBER-OF-SHARES-REDEEMED] 392,534
[SHARES-REINVESTED] 65,763
[NET-CHANGE-IN-ASSETS] (25,064,962)
[ACCUMULATED-NII-PRIOR] 277,980
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (37,847,576)
[GROSS-ADVISORY-FEES] 1,523,613
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,373,405
[AVERAGE-NET-ASSETS] 13,373,273
[PER-SHARE-NAV-BEGIN] 10.58
[PER-SHARE-NII] 00.54
[PER-SHARE-GAIN-APPREC] 00.10
[PER-SHARE-DIVIDEND] 00.56
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.66
[EXPENSE-RATIO] 01.87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 6
[NAME] MUNICIPAL FUND. CLASS 1
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 103,810,469
[INVESTMENTS-AT-VALUE] 112,777,636
[RECEIVABLES] 3,044,185
[ASSETS-OTHER] 78,792
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 115,900,613
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 467,427
[TOTAL-LIABILITIES] 467,427
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 104,207,161
[SHARES-COMMON-STOCK] 6,501,786
[SHARES-COMMON-PRIOR] 7,328,426
[ACCUMULATED-NII-CURRENT] 411,409
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 1,847,449
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 8,967,167
[NET-ASSETS] 115,433,186
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 6,585,931
[OTHER-INCOME] 0
[EXPENSES-NET] 1,216,165
[NET-INVESTMENT-INCOME] 5,369,766
[REALIZED-GAINS-CURRENT] 1,959,166
[APPREC-INCREASE-CURRENT] 601,222
[NET-CHANGE-FROM-OPS] 7,930,154
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 4,582,248
[DISTRIBUTIONS-OF-GAINS] 973,361
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 571,369
[NUMBER-OF-SHARES-REDEEMED] 1,792,999
[SHARES-REINVESTED] 394,990
[NET-CHANGE-IN-ASSETS] (269,652)
[ACCUMULATED-NII-PRIOR] 295,311
[ACCUMULATED-GAINS-PRIOR] 948,278
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 687,628
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,216,165
[AVERAGE-NET-ASSETS] 98,015,016
[PER-SHARE-NAV-BEGIN] 14.21
[PER-SHARE-NII] 00.68
[PER-SHARE-GAIN-APPREC] 00.31
[PER-SHARE-DIVIDEND] 00.66
[PER-SHARE-DISTRIBUTIONS] 00.13
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.41
[EXPENSE-RATIO] 01.01
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 6
[NAME] MUNICIPAL FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 103,810,469
[INVESTMENTS-AT-VALUE] 112,777,636
[RECEIVABLES] 3,044,185
[ASSETS-OTHER] 78,792
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 115,900,613
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 467,427
[TOTAL-LIABILITIES] 467,427
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 104,207,161
[SHARES-COMMON-STOCK] 1,122,477
[SHARES-COMMON-PRIOR] 615,828
[ACCUMULATED-NII-CURRENT] 411,409
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 1,847,449
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 8,967,167
[NET-ASSETS] 115,433,186
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 6,585,931
[OTHER-INCOME] 0
[EXPENSES-NET] 1,216,165
[NET-INVESTMENT-INCOME] 5,369,766
[REALIZED-GAINS-CURRENT] 1,959,166
[APPREC-INCREASE-CURRENT] 601,222
[NET-CHANGE-FROM-OPS] 7,930,154
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 539,197
[DISTRIBUTIONS-OF-GAINS] 57,967
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 924,268
[NUMBER-OF-SHARES-REDEEMED] 44,855
[SHARES-REINVESTED] 462,474
[NET-CHANGE-IN-ASSETS] (269,652)
[ACCUMULATED-NII-PRIOR] 295,311
[ACCUMULATED-GAINS-PRIOR] 948,278
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 687,628
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,216,165
[AVERAGE-NET-ASSETS] 12,358,512
[PER-SHARE-NAV-BEGIN] 14.21
[PER-SHARE-NII] 00.62
[PER-SHARE-GAIN-APPREC] 00.34
[PER-SHARE-DIVIDEND] 00.63
[PER-SHARE-DISTRIBUTIONS] 00.13
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.41
[EXPENSE-RATIO] 01.23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
[NUMBER] 6
[NAME] MUNICIPAL FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 103,810,469
[INVESTMENTS-AT-VALUE] 112,777,636
[RECEIVABLES] 3,044,185
[ASSETS-OTHER] 78,792
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 115,900,613
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 467,427
[TOTAL-LIABILITIES] 467,427
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 104,207,161
[SHARES-COMMON-STOCK] 387,228
[SHARES-COMMON-PRIOR] 198,487
[ACCUMULATED-NII-CURRENT] 411,409
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 1,847,449
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 8,967,167
[NET-ASSETS] 115,433,186
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 6,585,931
[OTHER-INCOME] 0
[EXPENSES-NET] 1,216,165
[NET-INVESTMENT-INCOME] 5,369,766
[REALIZED-GAINS-CURRENT] 1,959,166
[APPREC-INCREASE-CURRENT] 601,222
[NET-CHANGE-FROM-OPS] 7,930,154
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 143,232
[DISTRIBUTIONS-OF-GAINS] 17,658
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 265,736
[NUMBER-OF-SHARES-REDEEMED] 89,435
[SHARES-REINVESTED] 12,440
[NET-CHANGE-IN-ASSETS] (269,652)
[ACCUMULATED-NII-PRIOR] 295,311
[ACCUMULATED-GAINS-PRIOR] 948,278
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 687,628
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,216,165
[AVERAGE-NET-ASSETS] 3,944,113
[PER-SHARE-NAV-BEGIN] 14.20
[PER-SHARE-NII] 00.51
[PER-SHARE-GAIN-APPREC] 00.33
[PER-SHARE-DIVIDEND] 00.52
[PER-SHARE-DISTRIBUTIONS] 00.13
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.39
[EXPENSE-RATIO] 01.95
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Trustees of
Concert Investment Series
In planning and performing our audit of the financial statements of
the Concert Investment Series (comprising, respectively, the
Emerging Growth Fund, Government Fund, Growth Fund, Growth and
Income Fund, International Equity Fund and Municipal Bond Fund) for
the year ended October 31, 1998, we considered its internal
control, including control activities for safeguarding securities,
in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, and not to provide assurance
on the internal control.
The management of Concert Investment Series is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of controls.
Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the
risk that it may become inadequate because of changes in conditions
or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition
in which the design or operation of one or more of the specific
internal control components does not reduce to a relatively low
level the risk that errors or fraud in amounts that would be
material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in
the normal course of performing their assigned functions. However,
we noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we consider to
be material weaknesses as defined above at October 31, 1998.
This report is intended solely for the information and use of the
board of trustees and management of Concert Investment Series and
the Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified
parties.
ERNST & YOUNG LLP
December 15, 1998
CONCERT INVESTMENT SERIES
10F-3 REPORT
February 1, 1998 through October 31, 1998.
Trade Purchase % of
Issuer Date Selling Dealer Amount
Price Issue
Duane Reade Inc. 2/10/98 DLJ $ 462,000
$16.500 0.54%
Micro Muse 2/12/98 Deutsche Morgan Grenfell 240,000
12.000 0.67
Steelcase 2/17/98 Goldman Sachs 1,148,000
28.000 0.41
Amreso 2/23/98 CS First Boston 9,750,000
30.000 7.22
Waddell & Reed Financial 3/4/98 Morgan Stanley 1,725,000
23.000 0.35
Sirrom Capital 3/5/98 Morgan Stanley 5,100,000
25.000 3.33
Reltec 3/12/98 Morgan Stanley 435,000
29.000 0.36
Dset 3/12/98 BT Sec./Alex Brown 240,000 16.000
0.67
Lexmark 3/19/98 Goldman Sachs 15,750,000
45.000 4.55
ISS Group 3/23/98 Goldman Sachs 186,450 22.000
0.37
Clear Channel Comm. Comm.3/25/98 BT Sec./Alex Brown 10,160,312 99.125
1.86
Columbia Sportswear Co. 3/26/98 Goldman Sachs 326,250
18.000 0.44
NYS Dorm Auth City Uni 3/30/98 Goldman Sachs 1,000,000
97.769 17.63
Freedom Securities Corp 4/02/98 DLJ 492,000
20.000 0.45
Cavanaugh Hospitality 4/03/98 CIBC Oppenheimer 660,000
15.000 0.96
Schein Pharmaceutical 4/09/98 Cowen & Co. 841,500
17.000 2.00
Horizon Medical Products 4/14/98 CS First Boston 1,450,000
14.000 2.88
Charles River Associates 4/23/98 Montgomery Securities 206,460
18.500 0.68
Ziff Davis 4/28/98 Morgan Stanley 5,084,000
15.500 1.55
Provant 4/28/98 Montgomery Securities 231,400
13.000 0.77
Caliber Learning 5/07/98 BTSecurities/Alex.Brown 1,426,250
14.000 2.31
Evolving Systems 5/11/98 Goldman Sachs 57,400
14.000 0.22
Young & Rubicam Inc 5/12/98 Donaldson, Lufkin & Jenrette 1,075,000
25.000 0.60
Federated Investors 5/13/98 Merrill Lynch 380,000
19.000 0.11
Long Island Power Auth 5/14/98 Bear Stearns
4.61
5.00% due 12/01/2018 3,000,000 98.965
5.50% due 12/01/2029 1,000,000 97.004
Professional Detailing 5/19/98 Morgan Stanley 40,000
16.000 0.09
Capstar Broadcasting 5/26/98 CS First Boston 19,712,500
19.000 4.03
Federal Mogul 6/04/98 Merrill Lynch 12,760,000 58.000
2.00
School Speciality 6/09/98 Goldman Sachs 77,500
15.500 0.24
Equant 7/20/98 Morgan Stanley 178.200
27.000 0.03
Conoco 10/21/98 Morgan Stanley 20,355,000
23.000 0.80
Conoco 10/21/98 Morgan Stanley 6,900,000
23.00 0.80