<PAGE> PAGE 1
000 A000000 01/31/97
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001 C000000 6127384000
002 A000000 500 BIELENBERG DRIVE
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002 C000000 MN
002 D010000 55125
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007 C011000 10
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008 B00AA01 A
008 C00AA01 801-07877
008 D01AA01 WOODBURY
008 D02AA01 MN
008 D03AA01 55125
010 A00AA01 DELETE
011 A00AA01 FORTIS INVESTORS, INC.
011 B00AA01 8-13846
011 C01AA01 WOODBURY
011 C02AA01 MN
011 C03AA01 55125
012 A00AA01 FORTIS ADVISERS, INC.
012 B00AA01 85-07877
012 C01AA01 WOODBURY
012 C02AA01 MN
012 C03AA01 55125
<PAGE> PAGE 2
013 A00AA01 KPMG PEAT MARWICK
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
015 A00AA01 FIRST NATIONAL BANK OF MINNEAPOLIS
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55480
015 E01AA01 X
015 A00AA02 FIRST TRUST CO., INC.
015 B00AA02 S
015 C01AA02 ST. PAUL
015 C02AA02 MN
015 C03AA02 55164
015 E01AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 29
019 C00AA00 FORTISFUND
020 A000001 LAZARD FRERES & CO.
020 B000001 13-5545100
020 C000001 8
020 A000002 MORGAN KEEGEN & CO., INC.
020 B000002 64-0474907
020 C000002 5
020 A000003 SCHRODER WERTHEIM & CO., INC.
020 B000003 13-2697272
020 C000003 5
020 A000004 LAWRENCE (CYRUS J.), INC.
020 B000004 13-2730828
020 C000004 5
020 A000005 WILLIAM MCKAY, JORDAN & MILLS
020 C000005 4
020 A000006 BROWN (ALEX) & SONS, INC.
020 B000006 52-0256630
020 C000006 4
020 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000007 13-5674085
020 C000007 4
020 A000008 BRIDGE TRADING CO.
020 B000008 43-1034850
020 C000008 4
020 A000009 LEHMAN BROTHERS, INC.
020 B000009 13-2518466
020 C000009 3
020 A000010 GOLDMAN, SACHS & CO.
020 B000010 13-5108880
020 C000010 3
021 000000 80
022 A000001 FIRST BANK (N.A.)
<PAGE> PAGE 3
022 B000001 41-0256395
022 C000001 186679
022 D000001 186818
022 A000002 CHASE MANHATTAN
022 B000002 41-0988154
022 C000002 68188
022 D000002 75220
022 A000003 DONALDSON, LUFKIN & JENRETTE SECURITIES
022 B000003 13-2741729
022 C000003 42544
022 D000003 44563
022 A000004 BEAR, STEARNS & CO.
022 B000004 13-3299429
022 C000004 44568
022 D000004 19987
022 A000005 NATIONS BANK
022 B000005 56-1684171
022 C000005 44575
022 D000005 15489
022 A000006 LEHMAN BROTHERS, INC.
022 B000006 13-2518466
022 C000006 35903
022 D000006 15861
022 A000007 FIRST UNION BANK
022 C000007 28437
022 D000007 20809
022 A000008 MENDHAM CAPITAL
022 B000008 22-3165996
022 C000008 19701
022 D000008 27762
022 A000009 CITICORP
022 B000009 13-2771536
022 C000009 21381
022 D000009 17791
022 A000010 FREEMAN SECURITIES CO., INC.
022 B000010 13-2662313
022 C000010 4705
022 D000010 15985
023 C000000 627917
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026 A000000 Y
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<PAGE> PAGE 4
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
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024 000300 Y
025 A000301 FIRST BANK (N.A.)
025 B000301 41-0256395
025 C000301 D
025 D000301 4500
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025 D000306 0
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<PAGE> PAGE 5
028 C020300 859
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028 D020300 875
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037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 N
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042 E000300 0
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<PAGE> PAGE 6
048 A010300 50000
048 A020300 0.800
048 B010300 0
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048 I010300 0
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048 K010300 50000
048 K020300 0.700
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050 000300 N
051 000300 N
052 000300 N
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055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
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<PAGE> PAGE 7
062 P000300 95.3
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065 000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
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070 A020300 Y
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070 C020300 N
070 D010300 Y
070 D020300 N
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070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
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070 H020300 N
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070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
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070 L020300 Y
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070 M020300 N
070 N010300 Y
070 N020300 Y
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<PAGE> PAGE 8
071 C000300 167030
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<PAGE> PAGE 9
074 M000300 109
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080 A000300 RELIANCE INSURANCE COMPANY
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SIGNATURE TAMARA L. FAGELY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 031
<NAME> HIGH YIELD PORTFOLIO (CLASS A)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-START> AUG-01-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 191,096,379
<INVESTMENTS-AT-VALUE> 191,125,957
<RECEIVABLES> 7,101,337
<ASSETS-OTHER> 26,841,169<F1>
<OTHER-ITEMS-ASSETS> 108,813
<TOTAL-ASSETS> 225,177,276
<PAYABLE-FOR-SECURITIES> 2,377,510
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27,769,679<F1>
<TOTAL-LIABILITIES> 30,147,189
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 206,939,305
<SHARES-COMMON-STOCK> 15,548,166
<SHARES-COMMON-PRIOR> 14,471,302
<ACCUMULATED-NII-CURRENT> 284,752
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,223,548)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,578
<NET-ASSETS> 195,030,087
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,779,509
<OTHER-INCOME> 8,843<F2>
<EXPENSES-NET> (1,317,567)
<NET-INVESTMENT-INCOME> 8,470,785
<REALIZED-GAINS-CURRENT> 4,334,547
<APPREC-INCREASE-CURRENT> (44,243)
<NET-CHANGE-FROM-OPS> 12,761,089
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,666,676)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (321,022)
<NUMBER-OF-SHARES-SOLD> 2,447,465
<NUMBER-OF-SHARES-REDEEMED> (1,852,893)
<SHARES-REINVESTED> 482,292
<NET-CHANGE-IN-ASSETS> 31,050,662
<ACCUMULATED-NII-PRIOR> 456,376
<ACCUMULATED-GAINS-PRIOR> (16,068,495)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 654,805
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,317,567
<AVERAGE-NET-ASSETS> 179,598,000
<PER-SHARE-NAV-BEGIN> 7.56
<PER-SHARE-NII> 0.37
<PER-SHARE-GAIN-APPREC> 0.19
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.02)
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<EXPENSE-RATIO> 1.23<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $26,343,350 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $26,841,169 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JANUARY 31, 1997.
<F3>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 032
<NAME> HIGH YIELD PORTFOLIO (CLASS B)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-START> AUG-01-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 191,096,379
<INVESTMENTS-AT-VALUE> 191,125,957
<RECEIVABLES> 7,101,337
<ASSETS-OTHER> 26,841,169<F1>
<OTHER-ITEMS-ASSETS> 108,813
<TOTAL-ASSETS> 225,177,276
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27,769,679<F1>
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 206,939,305
<SHARES-COMMON-STOCK> 2,137,901
<SHARES-COMMON-PRIOR> 1,596,901
<ACCUMULATED-NII-CURRENT> 284,752
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,223,548)
<OVERDISTRIBUTION-GAINS> 0
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<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,779,509
<OTHER-INCOME> 8,843<F2>
<EXPENSES-NET> (1,317,567)
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<APPREC-INCREASE-CURRENT> (44,243)
<NET-CHANGE-FROM-OPS> 12,761,089
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (658,500)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (37,305)
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<NUMBER-OF-SHARES-REDEEMED> (123,736)
<SHARES-REINVESTED> 44,796
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<ACCUMULATED-NII-PRIOR> 456,376
<ACCUMULATED-GAINS-PRIOR> (16,068,495)
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<PER-SHARE-NAV-END> 7.72
<EXPENSE-RATIO> 1.88<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $26,343,350 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $26,841,169 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JANUARY 31, 1997.
<F3>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 033
<NAME> HIGH YIELD PORTFOLIO (CLASS C)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-START> AUG-01-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 191,096,379
<INVESTMENTS-AT-VALUE> 191,125,957
<RECEIVABLES> 7,101,337
<ASSETS-OTHER> 26,841,169<F1>
<OTHER-ITEMS-ASSETS> 108,813
<TOTAL-ASSETS> 225,177,276
<PAYABLE-FOR-SECURITIES> 2,377,510
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27,769,679<F1>
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 206,939,305
<SHARES-COMMON-STOCK> 558,915
<SHARES-COMMON-PRIOR> 447,741
<ACCUMULATED-NII-CURRENT> 284,752
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,223,548)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,578
<NET-ASSETS> 195,030,087
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,779,509
<OTHER-INCOME> 8,843<F2>
<EXPENSES-NET> (1,317,567)
<NET-INVESTMENT-INCOME> 8,470,785
<REALIZED-GAINS-CURRENT> 4,334,547
<APPREC-INCREASE-CURRENT> (44,243)
<NET-CHANGE-FROM-OPS> 12,761,089
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (184,409)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (10,447)
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<NUMBER-OF-SHARES-REDEEMED> (114,478)
<SHARES-REINVESTED> 15,393
<NET-CHANGE-IN-ASSETS> 31,050,662
<ACCUMULATED-NII-PRIOR> 456,376
<ACCUMULATED-GAINS-PRIOR> (16,068,495)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 654,805
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,317,567
<AVERAGE-NET-ASSETS> 179,598,000
<PER-SHARE-NAV-BEGIN> 7.55
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.19
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 7.71
<EXPENSE-RATIO> 1.88<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $26,343,350 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $26,841,169 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JANUARY 31, 1997.
<F3>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 034
<NAME> HIGH YIELD PORTFOLIO (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-START> AUG-01-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 191,096,379
<INVESTMENTS-AT-VALUE> 191,125,957
<RECEIVABLES> 7,101,337
<ASSETS-OTHER> 26,841,169<F1>
<OTHER-ITEMS-ASSETS> 108,813
<TOTAL-ASSETS> 225,177,276
<PAYABLE-FOR-SECURITIES> 2,377,510
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27,769,679<F1>
<TOTAL-LIABILITIES> 30,147,189
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 206,939,305
<SHARES-COMMON-STOCK> 7,030,107
<SHARES-COMMON-PRIOR> 5,180,668
<ACCUMULATED-NII-CURRENT> 284,752
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,223,548)
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<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,779,509
<OTHER-INCOME> 8,843<F2>
<EXPENSES-NET> (1,317,567)
<NET-INVESTMENT-INCOME> 8,470,785
<REALIZED-GAINS-CURRENT> 4,334,547
<APPREC-INCREASE-CURRENT> (44,243)
<NET-CHANGE-FROM-OPS> 12,761,089
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,132,824)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (120,826)
<NUMBER-OF-SHARES-SOLD> 2,434,698
<NUMBER-OF-SHARES-REDEEMED> (729,530)
<SHARES-REINVESTED> 144,271
<NET-CHANGE-IN-ASSETS> 31,050,662
<ACCUMULATED-NII-PRIOR> 456,376
<ACCUMULATED-GAINS-PRIOR> (16,068,495)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 654,805
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,317,567
<AVERAGE-NET-ASSETS> 179,598,000
<PER-SHARE-NAV-BEGIN> 7.55
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.19
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 7.71
<EXPENSE-RATIO> 1.88<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $26,343,350 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $26,841,169 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH JANUARY 31, 1997.
<F3>ANNUALIZED.
</FN>
</TABLE>
Attachment for Form N-SAR Sub-Item 77D
Fortis Advantage Portfolios, Inc.--High Yield Portfolio
Effective December 1, 1996, the investment objective of
Advantage Portfolios, Inc.--High Yield Portfolio was
changed from:
The investment objective of the High Yield Portfolio is
maximum current income by investing primarily in a
diversified portfolio of high-yielding, fixed-income
securities (sometimes referred to as "junk bonds") which
in the opinion of Advisers, do not subject High Yield
Portfolio to unreasonable investment risk.
To the following:
The investment objective of the High Yield Portfolio is
to maximize total return with a focus on high current
income by investing primarily in a diversified portfolio
of high-yielding fixed-income securities (sometimes
referred to as "junk bonds") which in the opinion of
Advisers do not subject High Yield Portfolio to
unreasonable investment risk.
This version was unanimously approved and adopted by a
vote of the Board of Directors at a meeting held
September 19, 1996.
