<PAGE> PAGE 1
000 A000000 10/30/98
000 C000000 0000811869
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE AAL MUTUAL FUNDS
001 B000000 811-5075
001 C000000 9207345721
002 A000000 222 WEST COLLEGE AVENUE
002 B000000 APPLETON
002 C000000 WI
002 D010000 54919
002 D020000 0007
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 12
007 C010100 1
007 C020100 THE AAL CAPITAL GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 THE AAL BOND FUND
007 C030200 N
007 C010300 3
007 C020300 THE AAL MUNICIPAL BOND FUND
007 C030300 N
007 C010400 4
007 C020400 THE AAL MONEY MARKET FUND
007 C030400 N
007 C010500 5
007 C020500 THE AAL US GOVT. ZERO COUPON BOND SERIES 2001
007 C030500 N
007 C010600 6
007 C020600 THE AAL US GOVT. ZERO COUPON BOND SERIES 2006
007 C030600 N
007 C010700 7
007 C020700 THE AAL MID CAP STOCK FUND
007 C030700 N
007 C010800 8
007 C020800 THE AAL EQUITY INCOME FUND
007 C030800 N
007 C010900 9
007 C020900 THE AAL INTERNATIONAL FUND
007 C030900 N
007 C011000 10
<PAGE> PAGE 2
007 C021000 THE AAL SMALL CAP STOCK FUND
007 C031000 N
007 C011100 11
007 C021100 THE AAL HIGH YIELD BOND FUND
007 C031100 N
007 C011200 12
007 C021200 THE AAL BALANCED FUND
007 C031200 N
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
011 A00AA01 AAL CAPITAL MANAGEMENT CORPORATION
011 B00AA01 8-36525
011 C01AA01 APPLETON
011 C02AA01 WI
011 C03AA01 54919
011 C04AA01 0007
012 A00AA01 FIRSTAR TRUST COMPANY
012 B00AA01 84-00410
012 C01AA01 MILWAUKEE
012 C02AA01 WI
012 C03AA01 53201
012 C04AA01 2981
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 MILWAUKEE
013 B02AA01 WI
013 B03AA01 53202
014 A00AA01 AAL CAPITAL MANAGEMENT CORPORATION
014 B00AA01 8-36525
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 MERRILL LYNCH & COMPANY, INC.
020 B000001 13-5674085
020 C000001 332
020 A000002 FACTSET DATA SYSTEMS
020 B000002 13-2953224
020 C000002 87
020 A000003 LEHMAN BROTHERS, INC.
020 B000003 13-2518466
020 C000003 86
020 A000004 PAINEWEBBER INC.
020 B000004 13-2638166
020 C000004 84
020 A000005 BRIDE TRADING COMPANY
020 B000005 43-1450530
<PAGE> PAGE 3
020 C000005 72
020 A000006 INSTINET CORPORATION
020 B000006 13-3443395
020 C000006 70
020 A000007 MORGAN STANLEY DEAN WITTER DISCOVER
020 B000007 13-2655998
020 C000007 60
020 A000008 DAIN RAUSCHER WESSEL
020 B000008 41-1416330
020 C000008 48
020 A000009 CS FIRST BOSTON CORP.
020 B000009 13-5659485
020 C000009 43
020 A000010 CITATION FINANCIAL GROUP, L.P.
020 B000010 13-5674085
020 C000010 41
021 000000 1640
022 A000001 MERRILL LYNCH & COMPANY, INC.
022 B000001 13-5674085
022 C000001 5079146
022 D000001 79889
022 A000002 LEHMAN BROTHERS, INC.
022 B000002 13-2518466
022 C000002 412991
022 D000002 378561
022 A000003 GOLDMAN, SACHS, & COMPANY
022 B000003 13-5108880
022 C000003 668420
022 D000003 67153
022 A000004 FIRSTAR TRUST COMPANY
022 B000004 39-0281260
022 C000004 258563
022 D000004 292465
022 A000005 SALMON SMITH BARNEY, INC.
022 B000005 13-1912900
022 C000005 263941
022 D000005 240673
022 A000006 BEAR, STEARNS & COMPANY
022 B000006 13-3299429
022 C000006 137128
022 D000006 120516
022 A000007 MORGAN STANLEY DEAN WITTER DISCOVER
022 B000007 13-2655998
022 C000007 123733
022 D000007 122488
022 A000008 MORGAN (J.P.) SECURITIES INC.
022 B000008 13-3224016
022 C000008 96031
022 D000008 72865
022 A000009 AMERICAN EXPRESS CREDIT
022 B000009 11-1988350
<PAGE> PAGE 4
022 C000009 94321
022 D000009 0
022 A000010 CS FIRST BOSTON CORP.
022 B000010 13-5659485
022 C000010 68425
022 D000010 23678
023 C000000 8304773
023 D000000 1929464
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
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 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
077 A000000 Y
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077 G000000 N
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<PAGE> PAGE 5
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
008 A000101 AAL CAPITAL MANAGEMENT CORPORATION
008 B000101 A
008 C000101 801-29618
008 D010101 APPLETON
008 D020101 WI
008 D030101 54919
008 D040101 0007
015 A000101 CITIBANK, N.A.
015 B000101 C
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10043
015 E010101 X
024 000100 Y
025 A000101 MERRILL LYNCH & COMPANY, INC.
025 B000101 13-5674085
025 C000101 D
025 D000101 19952
025 A000102 MORGAN (J.P.) SECURITIES
025 B000102 13-3224016
025 C000102 E
025 D000102 36937
025 A000103 CITICORP
025 B000103 13-5266470
025 C000103 E
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<PAGE> PAGE 6
028 C020100 0
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035 000100 21
036 A000100 Y
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038 000100 0
039 000100 Y
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 3763
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
<PAGE> PAGE 7
048 A010100 500000
048 A020100 0.007
048 B010100 500000
048 B020100 0.006
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048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 1000000
048 K020100 0.500
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
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062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
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062 O000100 0.0
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062 Q000100 0.0
062 R000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
<PAGE> PAGE 8
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
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 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 214275
071 B000100 37299
071 C000100 2644071
071 D000100 1
072 A000100 6
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072 C000100 15646
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<PAGE> PAGE 9
072 G000100 0
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<PAGE> PAGE 10
074 R040100 928
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074 W000100 0.0000
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008 A000201 AAL CAPITAL MANAGEMENT
008 B000201 A
008 C000201 801-29618
008 D010201 APPLETON
008 D020201 WI
008 D030201 54919
008 D040201 0007
015 A000201 CITIBANK, N.A.
015 B000201 C
015 C010201 NEW YORK
015 C020201 NY
015 C030201 10043
015 E010201 X
024 000200 N
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<PAGE> PAGE 11
028 G010200 43649
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032 000200 0
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034 000200 Y
035 000200 1
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038 000200 0
039 000200 Y
040 000200 Y
041 000200 Y
042 A000200 0
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043 000200 453
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.005
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<PAGE> PAGE 12
048 H020200 0.000
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050 000200 N
051 000200 N
052 000200 N
053 A000200 N
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062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
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064 A000200 Y
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
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070 D020200 N
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070 E020200 N
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<PAGE> PAGE 13
070 G010200 Y
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<PAGE> PAGE 14
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008 A000301 AAL CAPITAL MANAGEMENT CORPORATION
008 B000301 A
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008 D010301 APPLETON
<PAGE> PAGE 15
008 D020301 WI
008 D030301 54919
008 D040301 0007
015 A000301 CITIBANK, N.A.
015 B000301 C
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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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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 41
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<PAGE> PAGE 42
070 J020800 N
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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<PAGE> PAGE 61
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<PER-SHARE-NAV-END> 8.88
<EXPENSE-RATIO> 1.75
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
<SERIES>
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<NAME> THE AAL HIGH YIELD BOND FUND CLASS I
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<PERIOD-TYPE> 6-MOS
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<ACCUMULATED-NII-CURRENT> 8630
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<NUMBER-OF-SHARES-SOLD> 207036
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
<SERIES>
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<NAME> THE AAL BALANCED FUND CLASS A
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
<SERIES>
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<NAME> THE AAL BALANCED FUND CLASS B
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<NET-ASSETS> 5953273
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26224)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 341408
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<SHARES-REINVESTED> 2360
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<ACCUMULATED-NII-PRIOR> 41102
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<PER-SHARE-NAV-BEGIN> 10.79
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<TABLE> <S> <C>
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<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
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<NAME> THE AAL BALANCED FUND CLASS I
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<INVESTMENTS-AT-COST> 83027437
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<ACCUMULATED-NET-GAINS> 22265
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<REALIZED-GAINS-CURRENT> 55837
<APPREC-INCREASE-CURRENT> 798663
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12821)
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<NUMBER-OF-SHARES-SOLD> 34396
<NUMBER-OF-SHARES-REDEEMED> (942)
<SHARES-REINVESTED> 1188
<NET-CHANGE-IN-ASSETS> 46661458
<ACCUMULATED-NII-PRIOR> 41102
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<GROSS-EXPENSE> 415407
<AVERAGE-NET-ASSETS> 1287647
<PER-SHARE-NAV-BEGIN> 10.79
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<EXPENSE-RATIO> 1.03
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<TABLE> <S> <C>
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<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
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<NAME> THE AAL MONEY MARKET FUND CLASS A
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<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1999
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<ASSETS-OTHER> 1123614
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<PAID-IN-CAPITAL-COMMON> 272776364
<SHARES-COMMON-STOCK> 255305095
<SHARES-COMMON-PRIOR> 240737453
<ACCUMULATED-NII-CURRENT> 35211
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 255305095
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7142957
<OTHER-INCOME> 0
<EXPENSES-NET> 1010743
<NET-INVESTMENT-INCOME> 6132214
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6132214
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5959916)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 173423877
<NUMBER-OF-SHARES-REDEEMED> (164676896)
<SHARES-REINVESTED> 5820661
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<ACCUMULATED-NII-PRIOR> 35211
<ACCUMULATED-GAINS-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 639313
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1423454
<AVERAGE-NET-ASSETS> 246791612
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
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<TABLE> <S> <C>
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<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
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<NAME> THE AAL MONEY MARKET FUND CLASS B
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<PERIOD-START> MAY-01-1998
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<INVESTMENTS-AT-COST> 272789797
<INVESTMENTS-AT-VALUE> 272789797
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<EQUALIZATION> 0
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
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<NUMBER> 043
<NAME> THE AAL MONEY MARKET FUND CLASS I
<MULTIPLIER> 1
<S> <C>
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<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
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<PAYABLE-FOR-SECURITIES> 0
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<SHARES-COMMON-PRIOR> 234492
<ACCUMULATED-NII-CURRENT> 35211
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<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 6132214
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (147806)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26942689
<NUMBER-OF-SHARES-REDEEMED> (11315885)
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<ACCUMULATED-GAINS-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 1423454
<AVERAGE-NET-ASSETS> 6523581
<PER-SHARE-NAV-BEGIN> 1.00
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<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
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<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
<PAGE>
SUB-ITEM 77C
(a1) The Special Shareholders' Meeting of THE AAL MUTUAL FUNDS on October 30,
1998
(b1) n/a
(c1) RESOLVED: a majority vote of The AAL Small Cap Stock shareholders agreed to
change its fundamental investment objective
# of shares % of
outstanding shares
------------- -------
For 5,230,155.505 93.998%
Against 92,370.399 1.660%
Abstained 241,606.988 4.342%
------------- -------
5,564,132.892 100.000%
(d1) n/a
(a2) The Special Shareholders' Meeting of THE AAL MUTUAL FUNDS on October 30,
1998
(b2) n/a
(c2) RESOLVED: a majority vote of The AAL Mid Cap Stock shareholders agreed to
change its fundamental investment objective
# of shares % of
outstanding shares
------------- -------
For 20,722,662.178 93.827%
Against 317,918.803 1.440%
Abstained 1,045,391.031 4.733%
------------- -------
22,085,972.012 100.000%
(d2) n/a
<PAGE>
(a3) The Special Shareholders' Meeting of THE AAL MUTUAL FUNDS on October 30,
1998
(b3) n/a
(c3) RESOLVED: the shareholders of The AAL International Fund agreed to a change
in sub-adviser from Societe Generale Asset Management Corp. to Oechsle
International Advisers LLC, effective November 1, 1998
# of shares % of
outstanding shares
------------- -------
For 7,382,768.097 94.646%
Against 79,092.486 1.01%
Abstained 338,536.103 4.340%
------------- -------
7,800,396.686 100.000%
(d3) n/a
(a4) The Special Shareholders' Meeting of THE AAL MUTUAL FUNDS on October 30,
1998
(b4) The next item of business was the election of seven Trustees. Mr. Wreschnig
explained that the Trustees are elected by a plurality of the votes cast by
the holders of shares of The AAL Mutual Funds, with all Series voting
together. Votes received are as follows:
Shares Total Percentage
Nominee voted for Shares voted voted for
- ------------- ---------------- ---------------- ---------------
John H. Pender 282,502,836.140 287,961,737.066 98.10%
Richard L. Gady 282,499,995.401 287,983,263.822 98.09%
Lawrence M. Woods 282,376,542.000 287,961,537.072 98.06%
F. Gregory Campbell 282,463,924.061 287,961,537.066 98.09%
John O. Gilbert 282,535,204.440 287,961,537.066 98.11%
Ronald G. Anderson 282,425,583.449 287,961,537.066 98.07%
Edward W. Smeds 282,300,409.506 287,961,537.075 98.03%
D.W. Russler did not stand for re-election. The Funds Secretary voted the shares
received, noting that each person is duly elected as Trustee of the Funds.
(c4) n/a
(d4) n/a
<PAGE>
(a5) The Special Shareholders' Meeting of THE AAL MUTUAL FUNDS on October 30,
1998
(b5) n/a
(c5) RESOLVED: proposal to ratify PricewaterhouseCoopers as independent
accountants for fiscal year ending April 30, 1999
# of shares % of
outstanding shares
------------- -------
Affirmative 275,960,818.636 50.66%
Against 1,573,013.706 0.29%
Abstained 10,411,000.724 1.91%
(d5) n/a
