<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 9
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<PAGE> PAGE 11
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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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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070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 155264
071 B000300 147796
071 C000300 356522
071 D000300 39
072 A000300 6
072 B000300 5299
072 C000300 2854
072 D000300 0
072 E000300 0
072 F000300 1297
072 G000300 0
072 H000300 0
072 I000300 394
072 J000300 151
072 K000300 0
072 L000300 49
072 M000300 13
072 N000300 37
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 8
072 S000300 5
072 T000300 1877
072 U000300 0
072 V000300 0
072 W000300 10
072 X000300 3841
072 Y000300 0
072 Z000300 4312
072AA000300 17226
072BB000300 5047
072CC010300 14547
072CC020300 0
072DD010300 2396
072DD020300 243
072EE000300 10896
073 A010300 0.0780
073 A020300 0.0950
073 B000300 0.3400
073 C000300 0.0000
074 A000300 1943
074 B000300 34301
074 C000300 0
074 D000300 87910
<PAGE> PAGE 20
074 E000300 0
074 F000300 277530
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 12539
074 K000300 0
074 L000300 3605
074 M000300 17
074 N000300 417845
074 O000300 6280
074 P000300 560
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 1270
074 S000300 0
074 T000300 409735
074 U010300 30722
074 U020300 2555
074 V010300 12.31
074 V020300 13.06
074 W000300 0.0000
074 X000300 60137
074 Y000300 0
075 A000300 0
075 B000300 29844
076 000300 0.00
011 A000401 PRUDENTIAL SECURITIES INCORPORATED
011 B000401 8-27154
011 C010401 NEW YORK
011 C020401 NY
011 C030401 10292
025 A000401 BT SECURITIES CORP.
025 B000401 -
025 C000401 D
025 D000401 7175
025 A000402 GOLDMAN, SACHS & CO.
025 B000402 13-5108880
025 C000402 D
025 D000402 16195
025 A000403 J.P. MORGAN SECURITIES, INC
025 B000403 13-3224016
025 C000403 D
025 D000403 5617
025 A000404 KIDDER, PEABODY & CO., INC.
025 B000404 13-5650440
025 C000404 D
025 D000404 12341
025 A000405 SMITH BARNEY, SHEARSON, INC.
<PAGE> PAGE 21
025 B000405 13-1912900
025 C000405 D
025 D000405 8200
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 4419
028 A020400 0
028 A030400 0
028 A040400 7482
028 B010400 5386
028 B020400 2307
028 B030400 0
028 B040400 7053
028 C010400 5463
028 C020400 0
028 C030400 0
028 C040400 5154
028 D010400 5115
028 D020400 0
028 D030400 0
028 D040400 5823
028 E010400 5314
028 E020400 9724
028 E030400 0
028 E040400 7293
028 F010400 7106
028 F020400 0
028 F030400 0
028 F040400 7303
028 G010400 32803
028 G020400 12031
028 G030400 0
028 G040400 40108
028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
034 000400 Y
035 000400 293
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
<PAGE> PAGE 22
042 D000400 100
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 1845
044 000400 0
063 A000400 0
063 B000400 20.9
064 A000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
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 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 Y
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 155264
071 B000400 147796
071 C000400 356522
071 D000400 39
072 A000400 6
<PAGE> PAGE 23
072 B000400 5299
072 C000400 2854
072 D000400 0
072 E000400 0
072 F000400 1297
072 G000400 0
072 H000400 0
072 I000400 394
072 J000400 151
072 K000400 0
072 L000400 49
072 M000400 13
072 N000400 37
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 8
072 S000400 5
072 T000400 1877
072 U000400 0
072 V000400 0
072 W000400 10
072 X000400 3841
072 Y000400 0
072 Z000400 4312
072AA000400 17226
072BB000400 5047
072CC010400 14547
072CC020400 0
072DD010400 2396
072DD020400 243
072EE000400 10896
073 A010400 0.0780
073 A020400 0.0950
073 B000400 0.3400
073 C000400 0.0000
074 A000400 1943
074 B000400 34301
074 C000400 0
074 D000400 87910
074 E000400 0
074 F000400 277530
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 12539
074 K000400 0
074 L000400 3605
074 M000400 17
074 N000400 417845
074 O000400 6280
<PAGE> PAGE 24
074 P000400 560
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 1270
074 S000400 0
074 T000400 409735
074 U010400 30722
074 U020400 2555
074 V010400 12.31
074 V020400 13.06
074 W000400 0.0000
074 X000400 60137
074 Y000400 0
075 A000400 0
075 B000400 366090
076 000400 0.00
SIGNATURE SUSAN C. COTE'
TITLE TREASURER
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77D
Policies With Respect to Security Investments
At a meeting of the Trustees held on November 9, 1993, the
Fund adopted new procedures pursuant to Rules 17a-7, 10f-3 and 17e-
1 of the Investment Company Act of 1940. The revised procedures
eliminated the need for the Trustees to review annually the Fund's
Rule 10f-3, 17a-7 and 17e-1 procedures.
At the same meeting of the Trustees held on November 9, 1993,
the Fund adopted new procedures under the Investment Company Act of
1940 relating to authorization for securities transactions with
affiliated brokers pursuant to Section 11(a) of the Securities
Exchange Act of 1934 and Rule 11a2-2(T) thereunder. The revised
Section 11(a) procedures were broadened to permit members of
national securities exchanges to execute trades for their
discretionary accounts on a national securities exchange with the
use of an affiliated floor broker.
77J.Reclassification of Capital Accounts:
Effective August 1, 1993, the Fund began accounting and
reporting for distributions to shareholders in accordance with
Statement of Position 93-2: Determination, Disclosure, and
Financial Statement Presentation of Income, Capital Gain, and
Return of Capital Distributions by Investment Companies. As
a result of this statement, the Fund changed the
classification of distributions to shareholders to better
disclose the differences between financial statement amounts
and distributions determined in accordance with income tax
regulations. The effect caused by adopting this statement was
to decrease paid-in capital for the Conservatively Managed
Portfolio and the Strategy Portfolio by $12,132 and $6,769,
respectively, increase (decrease) undistributed net investment
income for the Conservatively Managed Portfolio and the
Strategy Portfolio by $214,969 and $(329,527), respectively,
and increase (decrease) accumulated net realized gains on
investments for the Conservatively Managed Portfolio and the
Strategy Portfolio by $(193,837) and $336,296, respectively,
as compared to amounts previously reported through July 31,
1993. Net investment income, net realized gains and net
assets were not affected by this change.
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Kendall International
2. Date of Purchase
10/18/93
3. Number of Securities Purchased
8,900
4. Dollar Amount of Purchase
$393,825
5. Price Per Unit
$44.25
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Merrill Lunch & Co.
7. Other Members of the Underwriting Syndicate
Goldman Sachs & Co.
Kidder, Peabody & Co. Incorporated
Bear, Stearns & Co. Inc.
CS First Boston Corporation
Alex. Brown & Sons Incorporated
Dillion Read & Co. Incorporated
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Hambrecht & Quist Incorporated
Lazard Freres & Co.
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
PanieWebber Incorporated
Prudential Securities Incorporated
Smith Barney Shearson Inc.
Wertheim Schroder & Co. Incorporated
Dean Witter Reynolds Inc.
Furman Selz Incorporated
Robert W. Baird & Co. Incorporated
Barington Capital Group, L.P.
William Blair & Company
Cowen Company
Crowell, Weedon & Co.
Dain Bosworth Incorporated
Genesis Merchant Group Securities
J.J.B. Hilliard, W.L. Lyons, Inc.
Interstate/Johnson Lane Corporation
Janney Montgomery Scott Inc.
Ladenburg, Thalmann & Co. Inc.
Legg Mason Wood Walker, Incorporated
Mabon Securities Corp.
Morgan Keegan & Company, Inc.
Needham & Company, Inc.
Piper Jaffray Inc.
Rauscher Pierce Refsnes, Inc.
Raymond James & Associates, Inc.
Wessels, Arnold & Henderson<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
PacTel Corporation
2. Date of Purchase
12/2/93
3. Number of Securities Purchased
13,100
4. Dollar Amount of Purchase
$301,300
5. Price Per Unit
$23.00
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Salomon Brothers, Inc./Lehman Brothers
7. Other Members of the Underwriting Syndicate
Goldman, Sachs & Co.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
CS First Boston Corporation
Donaldson, Lufkin & Jenrette Securities Corporation
Morgan Stanley & Co. Incorporated
Bear, Stearns & Co. Inc.
Alex. Brown & Sons Incorporated
Dillon, Read & Co. Inc.
A.G. Edwards & Sons, Inc.
Hambrecht & Quist Incorporated
Kemper Securities, Inc.
Kidder, Peabody & Co. Incorporated
Lazard Freres & Co.
WR Lazard, Laidlaw & Mead Inc.
Montgomery Securities
Normura Securities International, Inc.
Oppenheimer & Co., Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Pryor, McClendon, Counts & co., Inc.
Robertson, Stephens & Company, L.P.
ScotiaMcLeod (USA) Inc.
Muriel Siebert & Co., Inc.
Smith Barney Shearson Inc.
SBCI Swiss Bank Corporation Investment Banking Inc.
UBS Securities Inc.
S.G. Warburg & Co. Inc.
Wertheim Schroder & Co. Incorporated
Dean Witter Reynolds Inc.
Yamaichi International (America), Inc.
Advest, Inc.
Robert W. Baird & Co., Inc.
Sanford C. Bernstein & Co., Inc.
Cowen & Company
Crowell, Weedon & Co.
Dain Bosworth Incorporated
Robert Fleming Inc.
Ladenburg, Thalmann & Co. Inc.
C.J. Lawrence/Deutsche Bank Securities Corporation
Legg Mason Wood Walker Incorporated
Moran & Associates, Inc. Securities Brokerage
Needham & Company, Inc.
Neuberger & Berman
Piper Jaffray Inc.
Raymond James & Associates, Inc.
The Robinson-Humphrey Company, Inc.
Stifel, Nicholaus & Company, Incorporated
Sutro & Co. Incorporated
AIBC Investment Services Corporation
Apex Securities, Inc.
M.R. Beal & Co.
Charles A. Bell Securities Corp.
The Buckingham Research Group Incorporated
D.A. Davidson & Co. Incorporated
Doley Securities, Inc.
First Analysis Securities Corporation
Gabelli & Company, Inc.
Gerard Klauer Mattison & Co., Inc.
Grigsby Bradford Powell Inc.
Hanifen, Imhoff Inc.
Janney Montgomery Scott Inc.
Edward D. Jones & Co.
Luther, Smith & Smalls, Inc.
Ragen MacKenzie Incorporated
Samuel A. Ramirez & Co. Inc.
Redwood Securities Group, Inc.
Robert Van Securities, Inc.
The Seidler Companies Incorporated
Sturdivant & Co., Inc.
Utendahl Capital Partners, L.P.
Wedbush Morgan Securities<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Belden Inc.
2. Date of Purchase
9/29/93
3. Number of Securities Purchased
12,800
4. Dollar Amount of Purchase
$182,400
5. Price Per Unit
$14.25
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Dillon, Read & Co., Inc.
7. Other Members of the Underwriting Syndicate
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Adams, Harkness & Hill, Inc.
Advest, Inc.
Arnhold and S. Bleichroeder, Inc.
Robert W. Baird & Co. Incorporated
George K. Baum & Company
Bear, Stearns & Co. Inc.
William Blair & Company
J.C. Bradford & Co.
Brean Murray, Foster Securities Inc.
Alex. Brown & Sons Incorporated
BT Securities Corporation
The Chicago Dearborn Company
Cleary Gull Reiland & McDevitt Inc.
Coburn & Meredith, Inc.
Cowen & Company
Crowell, Weedon & Co.
Dominick & Dominick, Incorporated
Donald, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Equitable Securities Corporation
Fahnestock & Co. Inc.
Fechtor, Detwiler & Co., Incorporated
Ferris, Baker Watts Incorporated
First Albany Corporation
The First Boston Corporation
First Equity Corporation of Florida
First of Michigan Corporation
First Southwest Company
Furman Selz Incorporated
Goldman, Sachs & Co.
Hambrecht & Quist Incorporated
Hanifen, Imhoff Inc.
J.J.B. Hilliard, W.L. Lyons, Inc.
Howard, Weil, Labouisse, Friedrichs Inc.
Interstate Johnson Lane Corporation
Janney Montgomery Scott Inc.
Edward D. Jones & Co.
Josephthal Lyon & Ross Incorporated
Kemper Securities, Inc.
Kidder, Peabody & Co. Incorporated
C.L. King & Associates, Inc.
Ladenburg, Thalmann & Co., Inc.
C.J. Lawrence Inc.
Lazard Freres & Co.
Legg Mason Wood Walker, Incorporated
Lehman Brothers Inc.
Mabon Securities Corp.
McDonald & Company Securities, Inc.
Montgomery Securities
J.P. Morgan Securities Inc.
Morgan Stanley & Co., Incorporated
Needham & Company, Inc.
Neuberger & Berman
David A. Noyes & Company
The Ohio Company
Oppenheimer & Co., Inc.
PaineWebber Incorporated
Parker/Hunter Incorporated
Pennsylvania Merchant Group Ltd.
Prudential Securities Incorporated
Raffensperger, Hughes & Co. Incorporated
Ragen Mackenzie Incorporated
Rauscher Pierce Refsnes, Inc.
Raymond James & Associates, Inc.
Robertson, Stephens & Company, L.P.
The Robertson-Humphrey Company, Inc.
Roney & Co.
Salomon Brothers Inc.
Sanford C. Bernstein & Co., Inc.
SBCI Swiss Bank Corporation
The Seidler Companies Incorporated
Smith Barney Shearson Inc.
Stephens Inc.
Stifel, Nicolaus & Company, Incorporated
Tucker Anthony Incorporated
Wasserstein Perella Securities, Inc.
H.G. Wellington & Co., Inc.
Wertheim Schroder & Co. Incorporated
Dean Witter Reynolds Inc.<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Cygne Designs, Inc.
2. Date of Purchase
7/30/93
3. Number of Securities Purchased
37,000
4. Dollar Amount of Purchase
$370,000
5. Price Per Unit
$10.00
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
PaineWebber Incorporated
7. Other Members of the Underwriting Syndicate
Furman Selz Incorporated
Dean Witter Reynolds, Inc.
Dillon, Read & Co. Inc.
A.G. Edwards & Sons, Inc.
The First Boston Corporation
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Prudential Securities Incorporated
Shearson Lehman Brothers Inc.
Wertheim Schroder & Co. Incorporated
Gruntal & Co. Incorporated
Ladenburg, Thalmann & Co. Inc.
Legg Mason Wood Walker, Inc.
McDonald & Company Securities, Inc.
Needham & Company, Inc.
Neuberger & Berman
Stifel, Nicolaus & Company, Incorporated
Sutro & Co. Incorporated
Brean Murray, Foster Securities Inc.
The Buckingham Research Group Incorporated
Fahnestock & Co. Inc.
Fechtor, Detwiler & Co., Inc.
First Equity Corporation of Florida
First Manhattan Co.
The Ohio Company
Pennsylvania Merchant Group Ltd.
Ragen MacKenzie Incorporated
Van Kasper & Company<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
CCP Insurance, Inc.
2. Date of Purchase
9/22/93
3. Number of Securities Purchased
25,400
4. Dollar Amount of Purchase
$711,200
5. Price Per Unit
$28.00
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Merrill Lynch & Co.
7. Other Members of the Underwriting Syndicate
Dean Witter Reynolds Inc.
Ladenburg, Thalmann & Co. Inc.
Bear, Stearns & Co. Inc.
The First Boston Corporation
Alex. Brown & Sons Incorporated
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Goldman, Sachs & Co.
Lehman Brothers Inc.
Oppenheimer & Co. Inc.
Prudential Securities Incorporated
Salomon Brothers Inc.
Smith Barney Shearson Inc.
S.G. Warburg & Co. Inc.
Sands Brothers & Co. Ltd.
RAS Securities Corp.
Advest, Inc.
J.C. Bradford & Co.
Conning & Company
Dain Bosworth Incorporated
First Manhattan Co.
Fox-Pitt, Kelton Inc.
Janney Montgomery Scott Inc.
Kemper Securities, Inc.
Legg Mason Wood Walker, Incorporated
McDonald & Company Securities, Inc.
Neuberger & Berman
Northington Capital Markets Inc.
Piper Jaffray Inc.
The Robinson-Humphrey Company, Inc.
Stephens Inc.
Wheat, First Securities, Inc.
Raffensperger, Hughes & Co., Inc
Sterne, Agee & Leach, Inc.
Traub and Company, Inc.<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Duke Realty Investments, Inc.
2. Date of Purchase
9/27/93
3. Number of Securities Purchased
25,400
4. Dollar Amount of Purchase
$603,250
5. Price Per Unit
$23.75
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Merrill Lynch & Co.
7. Other Members of the Underwriting Syndicate
A.G. Edwards & Sons, Inc.
Dean Witter Reynolds Inc.
Legg Mason Wood Walker, Incorporated
Bear, Stearns & Co. Inc.
Alex, Brown & Sons Incorporated
Dillon, Read & Co. Inc.
Kidder, Peabody & Co. Incorporated
Lehman Brothers Inc.
Oppenheimer & Co., Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Smith Barney Shearson Inc.
Wertheim Schroder & Co. Incorporated
Advest, Inc.
Robert W. Baird & Co. Incorporated
J.C. Bradford & Co.
City Securities Corporation
Cowen & Company
Dain Bosworth Incorporated
Doft & Co., Inc.
Fahnstock & Co. Inc.
First Albany Corporation
First of Michigan Corporation
Gruntal & Co., Incorporated
Interstate/Johnson Lane Corporation
Janney Montgomery Scott Inc.
Edward D. Jones & Co.
Kemper Securities, Inc.
McDonald & Company Securities, Inc.
Morgan Keegan & Company, Inc.
The Ohio Company
Piper Jaffray Inc.
The Principal/Eppler, Guerin & Turner, Inc.
Raffensperger, Hughes & Co. Inc.
Ragen MacKenzie Incorporated
Rauscher Pierce Refsnes, Inc.
The Robinson-Humphrey Company, Inc.
Roney & Co.
Stephens Inc.
Stifel, Nicholaus & Company, Incorporated
Sutro & Co. Incorporated
Tucker Anthony Incorporated
Wheat, First Securities, Inc.
The Chicago Corporation
JW Charles Securities, Inc.
Crowell, Weedon & Co.
D.A. Davidson & Co. Incorporated
Dominick & Dominick, Incorporated
J.J.B. Hilliard, W.L. Lyons, Inc.
Johnston, Lemon & Co. Incorporated
Mesirow Financial, Inc.
Parker/Hunter Incorporated
Scott & Stringfellow, Inc.
Smith, Moore & Co.
Traub and Company, Inc.<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Post Properties Incorporated
2. Date of Purchase
7/15/93
3. Number of Securities Purchased
15,400
4. Dollar Amount of Purchase
$392,700
5. Price Per Unit
$25.50
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Merrill Lynch & Co.
7. Other Members of the Underwriting Syndicate
Dean Witter Reynolds Inc.
The Robinson-Humphrey Company, Inc.
Bear, Stearns & Co. Inc.
Alex Brown & Sons Incorporated
Donaldson, Lufkin & Jenrette Securities Corporation
A.G. Edwards & Sons, Inc.
Kidder, Peabody & Co. Incorporated
Oppenheimer & Co. Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Shearson Lehman Brothers Inc.
Smith Barney, Harris Upham & Co. Incorporated
Wertheim Schroder & Co. Incorporated
Advest, Inc.
Robert W. Baird & Co. Incorporated
J.C. Bradford & Co.
Cowen & Company
Dain Bosworth Incorporated
Fahnestock & Co. Inc.
First Albany Corporation
First of Michigan Corporation
Gruntal & Co. Incorporated
Interstate/Johnson Lane Corporation
Janney Montgomery Scott Inc.
Edward D. Jones & Co.
Kemper Securities, Inc.
Ladenburg, Thalmann & Co. Inc.
C.J. Lawrence Inc.
Legg Mason Wood Walker, Incorporated
McDonald & Company Securities, Inc.
Morgan Keegan & Company, Inc.
Piper Jaffray Inc.
The Principal/Eppler, Guerin & Turner, Inc.
Ragen MacKenzie Incorporated
Rauscher Pierce Refsnes, Inc.
Raymond James & Associates, Inc.
Stephens Inc.
Stifel, Nicolaus & Company, Incorporated
Sutro & Co. Incorporated
Tucker Anthony Incorporated
Wheat, First Securities, Inc.
Baird, Patrick & Co., Inc.
Barclay Investment, Inc.
The Chicago Corporation
JW Charles Securities, Inc.
Crowell, Weedon & Co.
Doft & Co., Inc.
Dominick & Dominick, Incorporated
Allen C. Ewing & Co.
Johnston, Lemon & Co. Incorporated
Mesirow Financial, Inc.
The Ohio Company
Parker/Hunter Incorporated
Pennsylvania Merchant Group Ltd.
Samuel A. Ramierz & Co., Inc.
Sanders Morris Mundy Inc.
Scott & Stringfellow, Inc.
The Seidler Companies Incorporated
Sterne, Agee & Leach, Inc.<PAGE>
For the six months ended (a) 1/31/94
File number (c) 811-5055
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
United Dominion Realty Trust
2. Date of Purchase
7/8/93
3. Number of Securities Purchased
23,900
4. Dollar Amount of Purchase
$322,650
5. Price Per Unit
$13.50
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Merrill Lynch & Co.
7. Other Members of the Underwriting Syndicate
Alex. Brown & Sons Incorporated
A.G. Edwards & Sons, Inc.
Scott & Stringfellow, Inc.
Bear, Stearns & Co. Inc.
Davenport & Co. of Virginia, Inc.
Kidder, Peabody & Co. Incorporated
Legg Mason Wood Walker, Incorporated
PaineWebber Incorporated
Prudential Securities Incorporated
Shearson Lehman Brothers, Inc.
Smith Barney, Harris Upham & Co. Incorporated
Wheat, First Securities, Inc.
Dean Witter Reynolds Inc.
Advest, Inc.
Anderson & Strudwick, Incorporated
J.C. Bradford & Co.
Branch, Cabell and Company
Craigie Incorporated
Ferris, Baker Watts, Incorporated
Interstate/Johnson Lane Corporation
Janney Montgomergy Scott Inc.
Johnston, Lemon & Co. Incorporated
Edward D. Jones & Co.
Morgan Keegan & Company, Inc.
The Robinson-Humphrey Company, Inc.
Tucker Anthony Incorporated
