ADVANCE CAPITAL I INC
NSAR-A, 1995-08-25
Previous: KOMAG INC /DE/, 10-K/A, 1995-08-25
Next: ADVANCE CAPITAL I INC, N-30D, 1995-08-25



<PAGE>      PAGE  1
000 A000000 06/30/95
000 C000000 0000813470
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 ADVANCE CAPITAL I, INC.
001 B000000 811-5127
001 C000000 8103508543
002 A000000 ONE TOWNE SQUARE, SUITE 444
002 B000000 SOUTHFIELD
002 C000000 MI
002 D010000 48076
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 EQUITY GROWTH FUND
007 C030100 N
007 C010200  2
007 C020200 BOND FUND
007 C030200 N
007 C010300  3
007 C020300 BALANCED FUND
007 C030300 N
007 C010400  4
007 C020400 LONG TERM INCOME FUND
007 C030400 N
007 C010500  5
007 C020500 RETIREMENT INCOME FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 ADVANCE CAPITAL GROUP, INC.
010 C01AA01 SOUTHFIELD
010 C02AA01 MI
010 C03AA01 48076
011 A00AA01 ADVANCE CAPITAL SERVICES, INC.
011 B00AA01 8-37456
011 C01AA01 SOUTHFIELD
011 C02AA01 MI
011 C03AA01 48076
<PAGE>      PAGE  2
012 A00AA01 ADVANCE CAPITAL GROUP, INC.
012 B00AA01 84-5480
012 C01AA01 SOUTHFIELD
012 C02AA01 MI
012 C03AA01 48076
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 DETROIT
013 B02AA01 MI
013 B03AA01 48243
020 A000001 INVESTMENT TECHNOLOGY GROUP, INC.
020 B000001 95-4339369
020 C000001     15
020 A000002 INSTINET
020 B000002 13-3443395
020 C000002      5
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       20
022 A000001 GRUNTAL & COMPANY
022 B000001 13-3179859
022 C000001     16659
022 D000001      2228
022 A000002 SMITH BARNEY
022 B000002 13-1912900
022 C000002      9405
022 D000002      8759
022 A000003 DILLON READ
022 B000003 13-1939216
022 C000003      5328
022 D000003         0
022 A000004 MORGAN STANLEY
022 B000004 13-2655998
022 C000004      3236
022 D000004      1834
022 A000005 ABN AMRO BANK
022 B000005 13-3227945
022 C000005      4058
022 D000005         0
022 A000006 DEAN WITTER
022 B000006 94-1671384
022 C000006      3197
022 D000006       366
022 A000007 LEHMAN BROTHERS
022 B000007 13-2689611
022 C000007      2637
<PAGE>      PAGE  3
022 D000007         0
022 A000008 GOLDMAN SACHS
022 B000008 13-5108880
022 C000008      2328
022 D000008         0
022 A000009 DONALDSON, LUFKIN & JENRETTE
022 B000009 13-2741729
022 C000009      1441
022 D000009       209
022 A000010 NATIONSBANK CAP MKT
022 B000010 56-1684171
022 C000010      1003
022 D000010         0
023 C000000      49872
023 D000000      13541
024  00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
042 A00AA00   0
042 B00AA00   0
042 C00AA00   0
042 D00AA00 100
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
043  00AA00    218
044  00AA00      0
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 Y
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
<PAGE>      PAGE  4
080 A00AA00 FIDELITY & DEPOSIT COMPANY OF MARYLAND
080 C00AA00     1425
081 A00AA00 N
081 B00AA00   0
082 A00AA00 Y
082 B00AA00       10
008 A000101 ADVANCE CAPITAL MANAGEMENT, INC.
008 B000101 A
008 C000101 801-28092
008 D010101 SOUTHFIELD
008 D020101 MI
008 D030101 48076
008 A000102 T. ROWE PRICE ASSOCIATES, INC.
008 B000102 S
008 C000102 801-856
008 D010102 BALTIMORE
008 D020102 MD
008 D030102 21289
008 D040102 8600
028 A010100      1434
028 A020100         0
028 A030100         0
028 A040100       255
028 B010100      1393
028 B020100         0
028 B030100         0
028 B040100       172
028 C010100      1157
028 C020100         0
028 C030100         0
028 C040100       125
028 D010100       433
028 D020100         0
028 D030100         0
028 D040100       247
028 E010100       439
028 E020100         0
028 E030100         0
028 E040100        85
028 F010100       812
028 F020100         0
028 F030100         0
028 F040100       100
028 G010100      5668
028 G020100         0
028 G030100         0
028 G040100       984
028 H000100         0
062 A000100 N
062 B000100   0.0
062 C000100   0.0
<PAGE>      PAGE  5
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
071 A000100      6203
071 B000100      1481
071 C000100     16053
071 D000100    9
072 A000100  6
072 B000100       18
072 C000100       62
072 D000100        0
072 E000100        0
072 F000100       58
072 G000100        0
072 H000100        0
072 I000100        0
072 J000100       11
072 K000100        0
072 L000100        1
072 M000100        0
072 N000100        2
072 O000100        0
072 P000100        0
072 Q000100        0
072 R000100        2
072 S000100        0
072 T000100       21
072 U000100        0
072 V000100        0
072 W000100        4
072 X000100       99
072 Y000100        0
072 Z000100      -19
072AA000100      119
072BB000100        0
072CC010100     2970
072CC020100        0
072DD010100        0
072DD020100        0
<PAGE>      PAGE  6
072EE000100        0
073 A010100   0.0000
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100      745
074 B000100        0
074 C000100        0
074 D000100        0
074 E000100        0
074 F000100    19744
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100        0
074 K000100        0
074 L000100        9
074 M000100        1
074 N000100    20499
074 O000100       86
074 P000100       15
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100       10
074 S000100        0
074 T000100    20388
074 U010100     1875
074 U020100        0
074 V010100    10.87
074 V020100     0.00
074 W000100   0.0000
074 X000100      773
074 Y000100        0
075 A000100        0
075 B000100    16601
076  000100     0.00
008 A000201 ADVANCE CAPITAL MANAGEMENT, INC.
008 B000201 A
008 C000201 801-28092
008 D010201 SOUTHFIELD
008 D020201 MI
008 D030201 48076
028 A010200        27
028 A020200        21
028 A030200         0
028 A040200        38
028 B010200        80
028 B020200        21
028 B030200         0
<PAGE>      PAGE  7
028 B040200         7
028 C010200         1
028 C020200        21
028 C030200         0
028 C040200        74
028 D010200        62
028 D020200        21
028 D030200         0
028 D040200        39
028 E010200        16
028 E020200        22
028 E030200         0
028 E040200        11
028 F010200        82
028 F020200        21
028 F030200         0
028 F040200       106
028 G010200       268
028 G020200       127
028 G030200         0
028 G040200       275
028 H000200         0
062 A000200 Y
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   1.7
062 N000200   0.0
062 O000200   0.0
062 P000200  95.2
062 Q000200   0.0
062 R000200   3.1
063 A000200   0
063 B000200  8.7
064 A000200 N
064 B000200 N
071 A000200       142
071 B000200        53
071 C000200      4125
071 D000200    1
072 A000200  6
072 B000200      162
072 C000200        0
<PAGE>      PAGE  8
072 D000200        0
072 E000200        0
072 F000200        8
072 G000200        0
072 H000200        0
072 I000200        0
072 J000200        1
072 K000200        0
072 L000200        0
072 M000200        0
072 N000200        1
072 O000200        0
072 P000200        0
072 Q000200        0
072 R000200        1
072 S000200        0
072 T000200        0
072 U000200        0
072 V000200        0
072 W000200        1
072 X000200       12
072 Y000200        0
072 Z000200      150
072AA000200        1
072BB000200        0
072CC010200      352
072CC020200        0
072DD010200      150
072DD020200        0
072EE000200        0
073 A010200   0.3500
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
074 A000200       55
074 B000200        0
074 C000200        0
074 D000200     4338
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200        0
074 L000200       88
074 M000200        1
074 N000200     4482
074 O000200        0
074 P000200        1
074 Q000200        0
<PAGE>      PAGE  9
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200        7
074 S000200        0
074 T000200     4474
074 U010200      429
074 U020200        0
074 V010200    10.44
074 V020200     0.00
074 W000200   0.0000
074 X000200      143
074 Y000200        0
075 A000200        0
075 B000200     4233
076  000200     0.00
008 A000301 ADVANCE CAPITAL MANAGEMENT, INC.
008 B000301 A
008 C000301 801-28092
008 D010301 SOUTHFIELD
008 D020301 MI
008 D030301 48076
008 A000302 T. ROWE PRICE ASSOCIATES, INC.
008 B000302 S
008 C000302 801-856
008 D010302 BALTIMORE
008 D020302 MD
008 D030302 21289
008 D040302 8600
028 A010300       499
028 A020300        79
028 A030300         0
028 A040300       708
028 B010300       540
028 B020300       157
028 B030300         0
028 B040300       358
028 C010300       330
028 C020300       108
028 C030300         0
028 C040300       539
028 D010300        83
028 D020300       115
028 D030300         0
028 D040300       406
028 E010300       327
028 E020300       165
028 E030300         0
028 E040300       325
028 F010300       351
028 F020300       121
<PAGE>      PAGE  10
028 F030300         0
028 F040300       312
028 G010300      2130
028 G020300       745
028 G030300         0
028 G040300      2648
028 H000300         0
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
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
071 A000300     10049
071 B000300      9881
071 C000300     46666
071 D000300   21
072 A000300  6
072 B000300      630
072 C000300      385
072 D000300        0
072 E000300        0
072 F000300      166
072 G000300        0
072 H000300        0
072 I000300        0
072 J000300       14
072 K000300        0
072 L000300        3
072 M000300        1
072 N000300        2
072 O000300        0
072 P000300        0
072 Q000300        0
072 R000300        6
072 S000300        0
072 T000300       59
072 U000300        0
072 V000300        0
<PAGE>      PAGE  11
072 W000300        9
072 X000300      260
072 Y000300        0
072 Z000300      755
072AA000300     1195
072BB000300        0
072CC010300     5556
072CC020300        0
072DD010300      755
072DD020300        0
072EE000300        0
073 A010300   0.1700
073 A020300   0.0000
073 B000300   0.0000
073 C000300   0.0000
074 A000300      377
074 B000300        0
074 C000300        0
074 D000300    18404
074 E000300        0
074 F000300    32017
074 G000300        0
074 H000300        0
074 I000300        0
074 J000300        0
074 K000300        0
074 L000300      455
074 M000300        4
074 N000300    51257
074 O000300        0
074 P000300       40
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300       17
074 S000300        0
074 T000300    51200
074 U010300     4454
074 U020300        0
074 V010300    11.50
074 V020300     0.00
074 W000300   0.0000
074 X000300      801
074 Y000300        0
075 A000300        0
075 B000300    47509
076  000300     0.00
008 A000401 ADVANCE CAPITAL MANAGEMENT, INC.
008 B000401 A
008 C000401 801-28092
<PAGE>      PAGE  12
008 D010401 SOUTHFIELD
008 D020401 MI
008 D030401 48076
028 A010400         0
028 A020400         8
028 A030400         0
028 A040400         3
028 B010400        35
028 B020400         8
028 B030400         0
028 B040400        31
028 C010400         0
028 C020400         8
028 C030400         0
028 C040400         4
028 D010400         1
028 D020400         8
028 D030400         0
028 D040400         4
028 E010400         0
028 E020400         8
028 E030400         0
028 E040400         4
028 F010400        50
028 F020400         8
028 F030400         0
028 F040400         5
028 G010400        86
028 G020400        48
028 G030400         0
028 G040400        51
028 H000400         0
062 A000400 Y
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   5.3
062 N000400   0.0
062 O000400   0.0
062 P000400  91.4
062 Q000400   0.0
062 R000400   3.3
063 A000400   0
<PAGE>      PAGE  13
063 B000400 19.5
064 A000400 N
064 B000400 N
071 A000400        95
071 B000400        22
071 C000400      1208
071 D000400    2
072 A000400  6
072 B000400       50
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400        2
072 G000400        0
072 H000400        0
072 I000400        0
072 J000400        1
072 K000400        0
072 L000400        0
072 M000400        0
072 N000400        1
072 O000400        0
072 P000400        0
072 Q000400        0
072 R000400        0
072 S000400        0
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400        0
072 X000400        4
072 Y000400        0
072 Z000400       46
072AA000400        1
072BB000400        0
072CC010400      138
072CC020400        0
072DD010400       46
072DD020400        0
072EE000400        0
073 A010400   0.3600
073 A020400   0.0000
073 B000400   0.0000
073 C000400   0.0000
074 A000400       17
074 B000400        0
074 C000400        0
074 D000400     1338
074 E000400        0
074 F000400        0
074 G000400        0
<PAGE>      PAGE  14
074 H000400        0
074 I000400        0
074 J000400        0
074 K000400        0
074 L000400       30
074 M000400        0
074 N000400     1385
074 O000400        0
074 P000400        0
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400        1
074 S000400        0
074 T000400     1384
074 U010400      134
074 U020400        0
074 V010400    10.29
074 V020400     0.00
074 W000400   0.0000
074 X000400       30
074 Y000400        0
075 A000400        0
075 B000400     1254
076  000400     0.00
008 A000501 ADVANCE CAPITAL MANAGEMENT, INC.
008 B000501 A
008 C000501 801-28092
008 D010501 SOUTHFIELD
008 D020501 MI
008 D030501 48076
008 D060503 \
028 A010500      9211
028 A020500       588
028 A030500         0
028 A040500       924
028 B010500     12241
028 B020500       671
028 B030500         0
028 B040500       719
028 C010500      4068
028 C020500       741
028 C030500         0
028 C040500       760
028 D010500      2236
028 D020500       762
028 D030500         0
028 D040500      1019
028 E010500      1775
028 E020500       757
<PAGE>      PAGE  15
028 E030500         0
028 E040500       688
028 F010500      1847
028 F020500       780
028 F030500         0
028 F040500      1028
028 G010500     31378
028 G020500      4299
028 G030500         0
028 G040500      5138
028 H000500         0
062 A000500 Y
062 B000500   0.0
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
062 L000500   0.0
062 M000500   4.0
062 N000500   0.0
062 O000500   0.0
062 P000500  93.2
062 Q000500   0.0
062 R000500   2.8
063 A000500   0
063 B000500 17.6
064 A000500 N
064 B000500 N
071 A000500     44076
071 B000500     13265
071 C000500    105699
071 D000500   13
072 A000500  6
072 B000500     4799
072 C000500        0
072 D000500        0
072 E000500        0
072 F000500      275
072 G000500        0
072 H000500        0
072 I000500        0
072 J000500        2
072 K000500        0
072 L000500        6
072 M000500        2
072 N000500       11
<PAGE>      PAGE  16
072 O000500        0
072 P000500        0
072 Q000500        0
072 R000500       15
072 S000500        0
072 T000500      137
072 U000500        0
072 V000500        0
072 W000500       20
072 X000500      468
072 Y000500        0
072 Z000500     4331
072AA000500      154
072BB000500        0
072CC010500    10765
072CC020500        0
072DD010500     4331
072DD020500        0
072EE000500        0
073 A010500   0.3800
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500      738
074 B000500        0
074 C000500        0
074 D000500   122146
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500        0
074 K000500        0
074 L000500     2854
074 M000500        4
074 N000500   125742
074 O000500        0
074 P000500       78
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       43
074 S000500        0
074 T000500   125621
074 U010500    12364
074 U020500        0
074 V010500    10.16
074 V020500     0.00
074 W000500   0.0000
<PAGE>      PAGE  17
074 X000500      914
074 Y000500        0
075 A000500        0
075 B000500   109244
076  000500     0.00
SIGNATURE   ROBERT J. CAPPELLI                           
TITLE       SECRETARY-TREASURER 
 


<PAGE>    1

Exhibit 1

[Correll Porvin Associates Letterhead]


August 22, 1995


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

Dear Sirs:

We have read Item 77k of  Advance Capital I, Inc. Form N-SAR
dated August 29, 1995 and are in agreement with the statements
conatined in paragraph (a) therein.




Sincerely,

CORRELL PORVIN ASSOCIATES, P.C.


/S/Vincent Morgante
Vincent Morgante, CPA

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 001
   <NAME> EQUITY GROWTH FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                       17,378,010
<INVESTMENTS-AT-VALUE>                      20,488,996
<RECEIVABLES>                                    8,704
<ASSETS-OTHER>                                   1,421
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              20,499,121
<PAYABLE-FOR-SECURITIES>                        86,226
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       25,103
<TOTAL-LIABILITIES>                            111,329
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    17,749,578
<SHARES-COMMON-STOCK>                        1,874,822
<SHARES-COMMON-PRIOR>                        1,391,134
<ACCUMULATED-NII-CURRENT>                     (19,046)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (453,726)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     3,110,986
<NET-ASSETS>                                20,387,792
<DIVIDEND-INCOME>                               61,654
<INTEREST-INCOME>                               18,342
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  99,042
<NET-INVESTMENT-INCOME>                       (19,046)
<REALIZED-GAINS-CURRENT>                       119,439
<APPREC-INCREASE-CURRENT>                    2,970,042
<NET-CHANGE-FROM-OPS>                        3,070,435
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        585,221
<NUMBER-OF-SHARES-REDEEMED>                    101,533
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       7,754,082
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (573,165)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           58,280
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 99,042
<AVERAGE-NET-ASSETS>                        16,600,729
<PER-SHARE-NAV-BEGIN>                             9.08
<PER-SHARE-NII>                                  (.01)
<PER-SHARE-GAIN-APPREC>                           1.80
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.87
<EXPENSE-RATIO>                                   1.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 002
   <NAME> BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                        4,184,923
<INVESTMENTS-AT-VALUE>                       4,393,064
<RECEIVABLES>                                   87,561
<ASSETS-OTHER>                                     890
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               4,481,515
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        7,042
<TOTAL-LIABILITIES>                              7,042
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,292,701
<SHARES-COMMON-STOCK>                          428,530
<SHARES-COMMON-PRIOR>                          416,085
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (26,369)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       208,141
<NET-ASSETS>                                 4,474,473
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              162,008
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  12,319
<NET-INVESTMENT-INCOME>                        149,689
<REALIZED-GAINS-CURRENT>                         1,436
<APPREC-INCREASE-CURRENT>                      351,606
<NET-CHANGE-FROM-OPS>                          502,731
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      149,689
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         26,851
<NUMBER-OF-SHARES-REDEEMED>                     27,181
<SHARES-REINVESTED>                             12,775
<NET-CHANGE-IN-ASSETS>                         474,997
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (27,805)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            8,479
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 12,319
<AVERAGE-NET-ASSETS>                         4,233,179
<PER-SHARE-NAV-BEGIN>                             9.61
<PER-SHARE-NII>                                    .35
<PER-SHARE-GAIN-APPREC>                            .83
<PER-SHARE-DIVIDEND>                               .35
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.44
<EXPENSE-RATIO>                                    .58
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 003
   <NAME> BALANCED FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                       45,106,339
<INVESTMENTS-AT-VALUE>                      50,798,138
<RECEIVABLES>                                  455,359
<ASSETS-OTHER>                                   3,785
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              51,257,282
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       57,677
<TOTAL-LIABILITIES>                             57,677
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    45,091,932
<SHARES-COMMON-STOCK>                        4,453,985
<SHARES-COMMON-PRIOR>                        4,434,888
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        415,874
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,691,799
<NET-ASSETS>                                51,199,605
<DIVIDEND-INCOME>                              384,751
<INTEREST-INCOME>                              630,580
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 260,433
<NET-INVESTMENT-INCOME>                        754,898
<REALIZED-GAINS-CURRENT>                     1,195,453
<APPREC-INCREASE-CURRENT>                    5,556,241
<NET-CHANGE-FROM-OPS>                        7,506,592
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      754,898
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        200,217
<NUMBER-OF-SHARES-REDEEMED>                    249,798
<SHARES-REINVESTED>                             68,678
<NET-CHANGE-IN-ASSETS>                       6,978,892
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (779,579)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          166,226
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                260,433
<AVERAGE-NET-ASSETS>                        47,509,063
<PER-SHARE-NAV-BEGIN>                             9.97
<PER-SHARE-NII>                                    .17
<PER-SHARE-GAIN-APPREC>                           1.53
<PER-SHARE-DIVIDEND>                               .17
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.50
<EXPENSE-RATIO>                                   1.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 004
   <NAME> LONG TERM INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                        1,348,081
<INVESTMENTS-AT-VALUE>                       1,355,148
<RECEIVABLES>                                   28,918
<ASSETS-OTHER>                                     387
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               1,384,453
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          858
<TOTAL-LIABILITIES>                                858
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     1,382,287
<SHARES-COMMON-STOCK>                          134,447
<SHARES-COMMON-PRIOR>                          126,335
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (5,759)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         7,067
<NET-ASSETS>                                 1,383,595
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               50,354
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   3,945
<NET-INVESTMENT-INCOME>                         46,409
<REALIZED-GAINS-CURRENT>                           687
<APPREC-INCREASE-CURRENT>                      138,274
<NET-CHANGE-FROM-OPS>                          185,370
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       46,409
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          8,668
<NUMBER-OF-SHARES-REDEEMED>                      5,280
<SHARES-REINVESTED>                              4,724
<NET-CHANGE-IN-ASSETS>                         220,786
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (6,446)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            2,498
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  3,945
<AVERAGE-NET-ASSETS>                         1,253,587
<PER-SHARE-NAV-BEGIN>                             9.20
<PER-SHARE-NII>                                    .36
<PER-SHARE-GAIN-APPREC>                           1.09
<PER-SHARE-DIVIDEND>                               .36
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.29
<EXPENSE-RATIO>                                    .63
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 005
   <NAME> RETIREMENT INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                      119,412,494
<INVESTMENTS-AT-VALUE>                     122,883,765
<RECEIVABLES>                                2,854,241
<ASSETS-OTHER>                                   4,473
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             125,742,479
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      121,614
<TOTAL-LIABILITIES>                            121,614
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   122,199,745
<SHARES-COMMON-STOCK>                       12,363,508
<SHARES-COMMON-PRIOR>                        9,131,955
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (50,151)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     3,471,271
<NET-ASSETS>                               125,620,865
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            4,798,861
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 467,600
<NET-INVESTMENT-INCOME>                      4,331,261
<REALIZED-GAINS-CURRENT>                       154,349
<APPREC-INCREASE-CURRENT>                   10,764,637
<NET-CHANGE-FROM-OPS>                       15,250,247
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    4,331,261
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      3,320,665
<NUMBER-OF-SHARES-REDEEMED>                    530,716
<SHARES-REINVESTED>                            441,604
<NET-CHANGE-IN-ASSETS>                      41,458,465
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (204,500)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          274,811
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                467,600
<AVERAGE-NET-ASSETS>                       109,244,061
<PER-SHARE-NAV-BEGIN>                             9.22
<PER-SHARE-NII>                                    .38
<PER-SHARE-GAIN-APPREC>                            .94
<PER-SHARE-DIVIDEND>                               .38
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.16
<EXPENSE-RATIO>                                    .86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission