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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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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 30
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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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015 A000801 PUTNAM FUDIACIARY TRUST COMPANY
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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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015 A000901 PUTNAM FUDIACIARY TRUST
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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070 K010900 N
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 392820
071 B000900 70990
071 C000900 215463
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072 A000900 12
<PAGE> PAGE 41
072 B000900 1476
072 C000900 283
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072 F000900 1619
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072 J000900 65
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072 S000900 12
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072 X000900 1822
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072BB000900 2173
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072DD010900 7784
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072EE000900 272227
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074 B000900 18716
074 C000900 12810
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074 F000900 484257
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074 M000900 1
074 N000900 519573
074 O000900 3638
<PAGE> PAGE 42
074 P000900 798
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074 R030900 0
074 R040900 28
074 S000900 0
074 T000900 515109
074 U010900 32947
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074 V010900 15.63
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074 W000900 0.0000
074 X000900 3
074 Y000900 0
075 A000900 0
075 B000900 230279
076 000900 0.00
015 A001001 PUTNAM FUDICIARY TRUST COMPMANY
015 B001001 C
015 C011001 BOSTON
015 C021001 MA
015 C031001 02109
015 E011001 X
024 001000 N
028 A011000 4870
028 A021000 0
028 A031000 0
028 A041000 309
028 B011000 8601
028 B021000 0
028 B031000 0
028 B041000 1795
028 C011000 6270
028 C021000 0
028 C031000 0
028 C041000 2220
028 D011000 6773
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028 D031000 0
028 D041000 1013
028 E011000 7497
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028 E041000 141
028 F011000 10500
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028 F031000 0
028 F041000 1756
028 G011000 44511
028 G021000 0
<PAGE> PAGE 43
028 G031000 0
028 G041000 7234
028 H001000 19249
031 A001000 0
031 B001000 0
032 001000 0
033 001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.000
048 A011000 500000
048 A021000 0.700
048 B011000 500000
048 B021000 0.600
048 C011000 500000
048 C021000 0.550
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 1500000
048 K021000 0.500
054 A001000 Y
054 B001000 Y
054 C001000 Y
054 D001000 N
054 E001000 N
054 F001000 N
054 G001000 N
054 H001000 N
054 I001000 N
054 J001000 Y
054 K001000 N
054 L001000 Y
054 M001000 Y
054 N001000 N
054 O001000 Y
062 A001000 Y
062 B001000 0.0
062 C001000 4.2
<PAGE> PAGE 44
062 D001000 2.5
062 E001000 0.0
062 F001000 0.2
062 G001000 0.1
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 32.7
062 M001000 0.0
062 N001000 30.1
062 O001000 0.0
062 P001000 29.6
062 Q001000 26.5
062 R001000 2.1
070 A011000 Y
070 A021000 Y
070 B011000 N
070 B021000 N
070 C011000 N
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 Y
070 G021000 Y
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 Y
070 K011000 N
070 K021000 N
070 L011000 Y
070 L021000 Y
070 M011000 Y
070 M021000 Y
070 N011000 N
070 N021000 N
070 O011000 N
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
<PAGE> PAGE 45
071 A001000 741737
071 B001000 700175
071 C001000 235615
071 D001000 297
072 A001000 12
072 B001000 21335
072 C001000 205
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072 E001000 0
072 F001000 1742
072 G001000 9
072 H001000 0
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072 J001000 116
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072 L001000 0
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072 O001000 0
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072 R001000 46
072 S001000 13
072 T001000 0
072 U001000 0
072 V001000 0
072 W001000 -3
072 X001000 2019
072 Y001000 0
072 Z001000 19521
072AA001000 6168
072BB001000 0
072CC011000 17173
072CC021000 0
072DD011000 11017
072DD021000 0
072EE001000 0
073 A011000 0.5050
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 22
074 B001000 7450
074 C001000 13836
074 D001000 92441
074 E001000 1087
074 F001000 963
074 G001000 0
074 H001000 0
074 I001000 182990
074 J001000 588
<PAGE> PAGE 46
074 K001000 0
074 L001000 7014
074 M001000 0
074 N001000 306391
074 O001000 1363
074 P001000 564
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074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 743
074 S001000 0
074 T001000 303721
074 U011000 27533
074 U021000 0
074 V011000 11.03
074 V021000 0.00
074 W001000 0.0000
074 X001000 3
074 Y001000 0
075 A001000 0
075 B001000 226990
015 A001101 PUTNAM FUDICIARY TRUST COMPANY
015 B001101 C
015 C011101 BOSTON
015 C021101 MA
015 C031101 02109
015 E011101 X
024 001100 N
028 A011100 7137
028 A021100 0
028 A031100 0
028 A041100 1577
028 B011100 8973
028 B021100 0
028 B031100 0
028 B041100 5405
028 C011100 4744
028 C021100 0
028 C031100 0
028 C041100 2728
028 D011100 5012
028 D021100 0
028 D031100 0
028 D041100 2041
028 E011100 8164
028 E021100 0
028 E031100 0
028 E041100 4797
028 F011100 8026
028 F021100 0
<PAGE> PAGE 47
028 F031100 0
028 F041100 5736
028 G011100 42056
028 G021100 0
028 G031100 0
028 G041100 22284
028 H001100 42056
031 A001100 0
031 B001100 0
032 001100 0
033 001100 0
045 001100 Y
046 001100 N
047 001100 Y
048 001100 0.000
048 A011100 500000
048 A021100 0.800
048 B011100 500000
048 B021100 0.700
048 C011100 500000
048 C021100 0.650
048 D011100 5000000
048 D021100 0.600
048 E011100 5000000
048 E021100 0.575
048 F011100 5000000
048 F021100 0.555
048 G011100 5000000
048 G021100 0.540
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 5000000
048 K021100 0.530
053 A001100 Y
054 A001100 Y
054 B001100 Y
054 C001100 Y
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 N
054 H001100 N
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 Y
054 M001100 Y
<PAGE> PAGE 48
054 N001100 N
054 O001100 Y
062 A001100 N
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
063 A001100 0
063 B001100 0.0
066 A001100 Y
066 C001100 Y
067 001100 N
068 A001100 N
068 B001100 Y
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 Y
<PAGE> PAGE 49
070 L021100 Y
070 M011100 Y
070 M021100 N
070 N011100 N
070 N021100 N
070 O011100 N
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 31872
071 B001100 8168
071 C001100 12061
071 D001100 68
072 A001100 8
072 B001100 61
072 C001100 103
072 D001100 0
072 E001100 0
072 F001100 28
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072 H001100 0
072 I001100 3
072 J001100 7
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072 L001100 0
072 M001100 1
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072 O001100 0
072 P001100 0
072 Q001100 0
072 R001100 30
072 S001100 5
072 T001100 0
072 U001100 0
072 V001100 0
072 W001100 0
072 X001100 74
072 Y001100 0
072 Z001100 90
072AA001100 129
072BB001100 281
072CC011100 644
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072DD011100 0
072DD021100 0
072EE001100 0
073 A011100 0.0000
<PAGE> PAGE 50
073 A021100 0.0000
073 B001100 0.0000
073 C001100 0.0000
074 A001100 16
074 B001100 2115
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074 E001100 0
074 F001100 23770
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074 H001100 0
074 I001100 0
074 J001100 439
074 K001100 0
074 L001100 317
074 M001100 0
074 N001100 26657
074 O001100 1046
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074 R041100 531
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074 T001100 25045
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074 X001100 2
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SIGNATURE PAUL BUCUVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Voyager Fund AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE T
O SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 1,527,367,570 <INVESTMENTS-AT-VALUE> 2,024,654,01
4
<RECEIVABLES> 15,146,778
<ASSETS-OTHER> 44,558
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,039,845,350
<PAYABLE-FOR-SECURITIES> 36,598,461
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,014,509
<TOTAL-LIABILITIES> 39,612,970
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,388,459,987
<SHARES-COMMON-STOCK> 65,570,845
<SHARES-COMMON-PRIOR> 46,258,270
<ACCUMULATED-NII-CURRENT> 6,843,926
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 107,642,023
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 497,286,444
<NET-ASSETS> 2,000,232,380
<DIVIDEND-INCOME> 12,040,848
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<NET-INVESTMENT-INCOME> 7,023,583
<REALIZED-GAINS-CURRENT> 111,497,412
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<DISTRIBUTIONS-OF-INCOME> (3,305,106)
<DISTRIBUTIONS-OF-GAINS> (24,368,992)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,723,279
<NUMBER-OF-SHARES-REDEEMED> (2,590,280)
<SHARES-REINVESTED> 1,179,126
<NET-CHANGE-IN-ASSETS> 973,259,936
<ACCUMULATED-NII-PRIOR> 3,066,110
<ACCUMULATED-GAINS-PRIOR> 20,512,825
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<PER-SHARE-NAV-BEGIN> 22.20
<PER-SHARE-NII> .10
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<PER-SHARE-NAV-END> 30.50
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Growth & Income Fund AND IS QUALIFIED IN ITS ENTIRETY BY REF
ERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 0 <INVESTMENTS-AT-VALUE> 3,324,653,224
<RECEIVABLES> 12,778,464
<ASSETS-OTHER> 37,377
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,337,469,065
<PAYABLE-FOR-SECURITIES> 20,804,169
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,358,792
<TOTAL-LIABILITIES> 25,162,961
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,572,199,799
<SHARES-COMMON-STOCK> 154,278,978
<SHARES-COMMON-PRIOR> 116,012,107
<ACCUMULATED-NII-CURRENT> 82,592,880
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 136,639,048
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 520,874,377
<NET-ASSETS> 3,312,306,104
<DIVIDEND-INCOME> 83,313,636
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<DISTRIBUTIONS-OF-INCOME> (61,294,430)
<DISTRIBUTIONS-OF-GAINS> (34,820,960)
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<NUMBER-OF-SHARES-REDEEMED> (2,229,560)
<SHARES-REINVESTED> 5,584,857
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<ACCUMULATED-NII-PRIOR> 60,139,264
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<INTEREST-EXPENSE> 0
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<PER-SHARE-NAV-BEGIN> 16.44
<PER-SHARE-NII> .53
<PER-SHARE-GAIN-APPREC> 5.31
<PER-SHARE-DIVIDEND> (.51)
<PER-SHARE-DISTRIBUTIONS> (.30)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.47
<EXPENSE-RATIO> .57
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM High Yield Fund AND IS QUALIFIED IN ITS ENTIRETY BY REFERENC
E TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 467,339,884 <INVESTMENTS-AT-VALUE> 477,923,815
<RECEIVABLES> 21,451,997
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<TOTAL-ASSETS> 499,380,076
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<OTHER-ITEMS-LIABILITIES> 912,924
<TOTAL-LIABILITIES> 912,924
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 457,264,171
<SHARES-COMMON-STOCK> 40,303,807
<SHARES-COMMON-PRIOR> 28,534,560
<ACCUMULATED-NII-CURRENT> 37,603,875
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (6,984,825)
<ACCUM-APPREC-OR-DEPREC> 10,583,931
<NET-ASSETS> 498,467,152
<DIVIDEND-INCOME> 681,702
<INTEREST-INCOME> 41,645,420
<OTHER-INCOME> 0
<EXPENSES-NET> 3,158,540
<NET-INVESTMENT-INCOME> 39,168,582
<REALIZED-GAINS-CURRENT> (3,056,512)
<APPREC-INCREASE-CURRENT> 32,473,048
<NET-CHANGE-FROM-OPS> 68,585,118
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (32,248,315)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,402,208
<NUMBER-OF-SHARES-REDEEMED> (11,586,104)
<SHARES-REINVESTED> 2,953,143
<NET-CHANGE-IN-ASSETS> 171,347,731
<ACCUMULATED-NII-PRIOR> 30,924,066
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3,628,915)
<GROSS-ADVISORY-FEES> 2,909,080
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,290,354
<AVERAGE-NET-ASSETS> 415,814,370
<PER-SHARE-NAV-BEGIN> 11.46
<PER-SHARE-NII> .91
<PER-SHARE-GAIN-APPREC> 1.05
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.37
<EXPENSE-RATIO> .79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM U.S. Government & High Quality Bond AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 692,241,678 <INVESTMENTS-AT-VALUE> 736,711,798
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,489,650
<TOTAL-LIABILITIES> 1,489,650
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 668,141,850
<SHARES-COMMON-STOCK> 54,370,263
<SHARES-COMMON-PRIOR> 52,428,374
<ACCUMULATED-NII-CURRENT> 44,995,834
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (10,350,821)
<ACCUM-APPREC-OR-DEPREC> 44,237,251
<NET-ASSETS> 747,024,114
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 46,633,096
<OTHER-INCOME> 0
<EXPENSES-NET> 4,523,874
<NET-INVESTMENT-INCOME> 42,109,222
<REALIZED-GAINS-CURRENT> 20,343,716
<APPREC-INCREASE-CURRENT> 62,812,274
<NET-CHANGE-FROM-OPS> 125,265,212
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (42,687,165)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,879,875
<NUMBER-OF-SHARES-REDEEMED> (10,513,126)
<SHARES-REINVESTED> 3,575,140
<NET-CHANGE-IN-ASSETS> 106,566,519
<ACCUMULATED-NII-PRIOR> 42,245,471
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (27,366,231)
<GROSS-ADVISORY-FEES> 4,133,901
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,718,909
<AVERAGE-NET-ASSETS> 676,995,229
<PER-SHARE-NAV-BEGIN> 12.22
<PER-SHARE-NII> .81
<PER-SHARE-GAIN-APPREC> 1.56
<PER-SHARE-DIVIDEND> (.85)
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<PER-SHARE-NAV-END> 13.74
<EXPENSE-RATIO> .70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Money Market Fund AND IS QUALIFIED IN ITS ENTIRETY BY REFERE
NCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST > 260,840,036 <INVESTMENTS-AT-VALUE> 260,840,036
<RECEIVABLES> 2,737,916
<ASSETS-OTHER> 12,321
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 263,590,273
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 376,974
<TOTAL-LIABILITIES> 376,974
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 263,213,299
<SHARES-COMMON-STOCK> 263,213,299
<SHARES-COMMON-PRIOR> 244,063,943
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 263,213,299
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,132,558
<OTHER-INCOME> 0
<EXPENSES-NET> 1,331,327
<NET-INVESTMENT-INCOME> 12,801,231
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12,801,231
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,801,231)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 386,282,399
<NUMBER-OF-SHARES-REDEEMED> <379,375,602>
<SHARES-REINVESTED> 12,242,559
<NET-CHANGE-IN-ASSETS> 19,149,356
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,061,046
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,331,358
<AVERAGE-NET-ASSETS> 235,639,642
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .0533
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.0533)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .57
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Global Asset Allocation Fund AND IS QUALIFIED IN ITS ENTIRET
Y BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 483,960,531 <INVESTMENTS-AT-VALUE> 544,509,764
<RECEIVABLES> 9,225,682
<ASSETS-OTHER> 675,607
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 554,411,053
<PAYABLE-FOR-SECURITIES> 14,585,814
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,158,859
<TOTAL-LIABILITIES> 18,744,673
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 433,719,530
<SHARES-COMMON-STOCK> 33,173,381
<SHARES-COMMON-PRIOR> 31,412,939
<ACCUMULATED-NII-CURRENT> 13,978,178
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 26,478,735
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 61,489,937
<NET-ASSETS> 535,666,380
<DIVIDEND-INCOME> 6,364,299
<INTEREST-INCOME> 12,885,472
<OTHER-INCOME> 0
<EXPENSES-NET> 3,873,244
<NET-INVESTMENT-INCOME> 15,376,527
<REALIZED-GAINS-CURRENT> 30,375,882
<APPREC-INCREASE-CURRENT> 56,425,021
<NET-CHANGE-FROM-OPS> 102,177,430
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,825,970)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,576,518
<NUMBER-OF-SHARES-REDEEMED> (2,388,987)
<SHARES-REINVESTED> 572,911
<NET-CHANGE-IN-ASSETS> 121,443,586
<ACCUMULATED-NII-PRIOR> 8,082,455
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (5,525,272)
<GROSS-ADVISORY-FEES> 3,253,739
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,922,467
<AVERAGE-NET-ASSETS> 464,933,972
<PER-SHARE-NAV-BEGIN> 13.19
<PER-SHARE-NII> .47
<PER-SHARE-GAIN-APPREC> 2.74
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.15
<EXPENSE-RATIO> .84
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Global Growth Fund AND IS QUALIFIED IN ITS ENTIRETY BY REFER
ENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 0 <INVESTMENTS-AT-VALUE> 833,215,989
<RECEIVABLES> 11,724,577
<ASSETS-OTHER> 1,117,873
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 846,058,439
<PAYABLE-FOR-SECURITIES> 12,751,440
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,713,982
<TOTAL-LIABILITIES> 14,465,422
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 695,127,895
<SHARES-COMMON-STOCK> 54,791,007
<SHARES-COMMON-PRIOR> 49,694,917
<ACCUMULATED-NII-CURRENT> 9,392,474
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 31,000,126
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 96,072,522
<NET-ASSETS> 831,593,017
<DIVIDEND-INCOME> 15,039,547
<INTEREST-INCOME> 2,071,812
<OTHER-INCOME> 0
<EXPENSES-NET> 5,284,914
<NET-INVESTMENT-INCOME> 10,726,278
<REALIZED-GAINS-CURRENT> 27,182,770
<APPREC-INCREASE-CURRENT> 70,328,980
<NET-CHANGE-FROM-OPS> 108,238,028
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,241,911)
<DISTRIBUTIONS-OF-GAINS> (12,181,203)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,808,443
<NUMBER-OF-SHARES-REDEEMED> (9,069,293)
<SHARES-REINVESTED> 1,356,940
<NET-CHANGE-IN-ASSETS> 161,772,186
<ACCUMULATED-NII-PRIOR> 4,411,370
<ACCUMULATED-GAINS-PRIOR> 10,166,269
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,329,841
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,427,031
<AVERAGE-NET-ASSETS> 721,185,850
<PER-SHARE-NAV-BEGIN> 13.48
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> 1.85
<PER-SHARE-DIVIDEND> .11
<PER-SHARE-DISTRIBUTIONS> .24
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.18
<EXPENSE-RATIO> .75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Utilities Growth & Income AND IS QUALIFIED IN ITS ENTIRETY B
Y REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 477,652,519 <INVESTMENTS-AT-VALUE> 533,564,617
<RECEIVABLES> 5,624,579
<ASSETS-OTHER> 654
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 539,189,850
<PAYABLE-FOR-SECURITIES> 7,874,627
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 854,537
<TOTAL-LIABILITIES> 8,729,164
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 459,084,843
<SHARES-COMMON-STOCK> 39,959,075
<SHARES-COMMON-PRIOR> 35,972,992
<ACCUMULATED-NII-CURRENT> 20,548,328
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (5,084,797)
<ACCUM-APPREC-OR-DEPREC> 55,912,312
<NET-ASSETS> 530,460,686
<DIVIDEND-INCOME> 18,192,954
<INTEREST-INCOME> 5,653,409
<OTHER-INCOME> 0
<EXPENSES-NET> 2,882,561
<NET-INVESTMENT-INCOME> 20,963,802
<REALIZED-GAINS-CURRENT> 8,862,877
<APPREC-INCREASE-CURRENT> 90,894,818
<NET-CHANGE-FROM-OPS> 120,721,497
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,768,768)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,530,720
<NUMBER-OF-SHARES-REDEEMED> (3,483,831)
<SHARES-REINVESTED> 1,939,194
<NET-CHANGE-IN-ASSETS> 146,291,363
<ACCUMULATED-NII-PRIOR> 20,383,278
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (14,133,263)
<GROSS-ADVISORY-FEES> 2,666,363
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,035,706
<AVERAGE-NET-ASSETS> 440,080,599
<PER-SHARE-NAV-BEGIN> 10.68
<PER-SHARE-NII> .53
<PER-SHARE-GAIN-APPREC> 2.65
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.58)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.28
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Diversified Fund AND IS QUALIFIED IN ITS ENTIRETY BY REFEREN
CE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 292,147,041 <INVESTMENTS-AT-VALUE> 298,767,16
7
<RECEIVABLES> 7,601,968
<ASSETS-OTHER> 21,640
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 306,390,775
<PAYABLE-FOR-SECURITIES> 1,363,345
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,306,637
<TOTAL-LIABILITIES> 2,669,982
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 279,391,034
<SHARES-COMMON-STOCK> 27,533,478
<SHARES-COMMON-PRIOR> 22,158,718
<ACCUMULATED-NII-CURRENT> 19,613,479
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,680,317)
<ACCUM-APPREC-OR-DEPREC> 6,396,597
<NET-ASSETS> 303,720,793
<DIVIDEND-INCOME> 204,785
<INTEREST-INCOME> 21,335,530
<OTHER-INCOME> 0
<EXPENSES-NET> 2,018,877
<NET-INVESTMENT-INCOME> 19,521,438
<REALIZED-GAINS-CURRENT> 6,168,362
<APPREC-INCREASE-CURRENT> 17,173,203
<NET-CHANGE-FROM-OPS> 42,863,003
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,017,722)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,146,785
<NUMBER-OF-SHARES-REDEEMED> (1,905,536)
<SHARES-REINVESTED> 1,133,511
<NET-CHANGE-IN-ASSETS> 87,785,464
<ACCUMULATED-NII-PRIOR> 11,319,097
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (8,073,322)
<GROSS-ADVISORY-FEES> 1,741,950
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,109,255
<AVERAGE-NET-ASSETS> 248,530,691
<PER-SHARE-NAV-BEGIN> 9.74
<PER-SHARE-NII> .71
<PER-SHARE-GAIN-APPREC> 1.09
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.51)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.03
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM New Opportunities Fund AND IS QUALIFIED IN ITS ENTIRETY BY R
EFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 0 <INVESTMENTS-AT-VALUE> 517,895,901
<RECEIVABLES> 1,616,637
<ASSETS-OTHER> 60,496
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 519,573,034
<PAYABLE-FOR-SECURITIES> 3,637,598
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 826,812
<TOTAL-LIABILITIES> 4,464,410
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 423,796,282
<SHARES-COMMON-STOCK> 32,946,981
<SHARES-COMMON-PRIOR> 6,339,364
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,236,510)
<ACCUM-APPREC-OR-DEPREC> 93,548,852
<NET-ASSETS> 515,108,624
<DIVIDEND-INCOME> 282,790
<INTEREST-INCOME> 1,475,975
<OTHER-INCOME> 0
<EXPENSES-NET> 1,822,259
<NET-INVESTMENT-INCOME> (63,494)
<REALIZED-GAINS-CURRENT> 2,173,197
<APPREC-INCREASE-CURRENT> 90,775,571
<NET-CHANGE-FROM-OPS> 88,538,880
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,784)
<DISTRIBUTIONS-OF-GAINS> (208,404)
<DISTRIBUTIONS-OTHER> (137,365)
<NUMBER-OF-SHARES-SOLD> 29,068,100
<NUMBER-OF-SHARES-REDEEMED> (2,490,522)
<SHARES-REINVESTED> 30,039
<NET-CHANGE-IN-ASSETS> 446,516,628
<ACCUMULATED-NII-PRIOR> 7,145
<ACCUMULATED-GAINS-PRIOR> 208,404
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,618,748
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,944,385
<AVERAGE-NET-ASSETS> 230,279,362
<PER-SHARE-NAV-BEGIN> 10.82
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 4.84
<PER-SHARE-DISTRIBUTIONS> (.02)
<RETURNS-OF-CAPITAL> .01
<PER-SHARE-NAV-END> 15.63
<EXPENSE-RATIO> .84
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PCM Asia Pacific Growth Fund AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-95
<PERIOD-END> DEC-31-95
<INVESTMENTS-AT-COST > 25,538,238 <INVESTMENTS-AT-VALUE> 25,884,765
<RECEIVABLES> 756,188
<ASSETS-OTHER> 16,203
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,657,156
<PAYABLE-FOR-SECURITIES> 1,045,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 566,654
<TOTAL-LIABILITIES> 1,612,543
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,421,188
<SHARES-COMMON-STOCK> 2,448,848
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 260,391
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (281,037)
<ACCUM-APPREC-OR-DEPREC> 644,071
<NET-ASSETS> 25,044,613
<DIVIDEND-INCOME> 109,697
<INTEREST-INCOME> 54,434
<OTHER-INCOME> 0
<EXPENSES-NET> 73,898
<NET-INVESTMENT-INCOME> 90,233
<REALIZED-GAINS-CURRENT> (151,962)
<APPREC-INCREASE-CURRENT> 644,071
<NET-CHANGE-FROM-OPS> 582,342
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,079,125
<NUMBER-OF-SHARES-REDEEMED> (2,630,277)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 25,044,613
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 67,583
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 101,374
<AVERAGE-NET-ASSETS> 12,585,530
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> .17
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.23
<EXPENSE-RATIO> .81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
??
</TABLE>
