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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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<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 40
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070 K020700 N
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070 N010700 N
070 N020700 N
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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008 D010801 SAN LEANDRO
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015 A000801 INVESTORS BANK & TRUST COMPANY
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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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008 A000901 ATLAS ADVISERS, INC.
008 B000901 A
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015 A000901 INVESTORS BANK & TRUST COMPANY
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<PAGE> PAGE 48
015 C020903 NY
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015 A000904 IRVING TRUST COMPANY
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015 A000905 BANKERS TRUST COMPANY
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
070 L020900 N
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<PAGE> PAGE 52
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008 A001001 ATLAS ADVISERS, INC.
008 B001001 A
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008 D011001 SAN LEANDRO
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<PAGE> PAGE 53
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015 A001002 CHEMICAL BANK
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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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008 A001101 ATLAS ADVISERS, INC.
008 B001101 A
<PAGE> PAGE 58
008 C001101 801-30489
008 D011101 SAN LEANDRO
008 D021101 CA
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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048 F021100 0.000
048 G011100 0
048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 500000
048 K021100 0.500
058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
<PAGE> PAGE 61
061 001100 2500
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
066 A001100 Y
066 B001100 N
066 C001100 N
066 D001100 N
066 E001100 Y
066 F001100 N
066 G001100 N
067 001100 Y
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 Y
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 Y
070 K011100 N
<PAGE> PAGE 62
070 K021100 N
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 Y
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 Y
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 19780
071 B001100 5317
071 C001100 36142
071 D001100 15
072 A001100 12
072 B001100 1315
072 C001100 871
072 D001100 0
072 E001100 0
072 F001100 320
072 G001100 0
072 H001100 0
072 I001100 55
072 J001100 38
072 K001100 0
072 L001100 10
072 M001100 2
072 N001100 6
072 O001100 0
072 P001100 0
072 Q001100 0
072 R001100 13
072 S001100 1
072 T001100 148
072 U001100 0
072 V001100 0
072 W001100 4
072 X001100 597
072 Y001100 15
072 Z001100 1604
072AA001100 1241
072BB001100 0
072CC011100 6603
072CC021100 0
072DD011100 1387
072DD021100 217
<PAGE> PAGE 63
072EE001100 1241
073 A011100 0.4592
073 A021100 0.3975
073 B001100 0.3062
073 C001100 0.0000
074 A001100 0
074 B001100 8514
074 C001100 0
074 D001100 17289
074 E001100 9158
074 F001100 23797
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 0
074 K001100 0
074 L001100 401
074 M001100 1
074 N001100 59160
074 O001100 0
074 P001100 0
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 152
074 S001100 0
074 T001100 59008
074 U011100 3498
074 U021100 678
074 V011100 14.14
074 V021100 14.09
074 W001100 0.0000
074 X001100 3010
074 Y001100 0
075 A001100 0
075 B001100 45739
076 001100 0.00
008 A001201 ATLAS ADVISERS, INC.
008 B001201 A
008 C001201 801-30489
008 D011201 SAN LEANDRO
008 D021201 CA
008 D031201 94577
008 A001202 OPPENHEIMERFUNDS, INC.
008 B001202 S
008 C001202 801-8253
008 D011202 NEW YORK
008 D021202 NY
008 D031202 10048
015 A001201 INVESTORS BANK & TRUST COMPANY
<PAGE> PAGE 64
015 B001201 C
015 C011201 BOSTON
015 C021201 MA
015 C031201 02205
015 C041201 1537
015 E011201 X
015 A001202 CHEMICAL BANK
015 B001202 S
015 C011202 NEW YORK
015 C021202 NY
015 C031202 10172
015 E011202 X
015 A001203 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B001203 S
015 C011203 NEW YORK
015 C021203 NY
015 C031203 10015
015 E011203 X
015 A001204 IRVING TRUST COMPANY
015 B001204 S
015 C011204 NEW YORK
015 C021204 NY
015 C031204 10015
015 E011204 X
015 A001205 BANKERS TRUST COMPANY
015 B001205 S
015 C011205 NEW YORK
015 C021205 NY
015 C031205 10015
015 E011205 X
024 001200 Y
025 A001201 MERRILL LYNCH & CO., INC.
025 B001201 13-5674085
025 C001201 E
025 D001201 1072
025 D001202 0
025 D001203 0
025 D001204 0
025 D001205 0
025 D001206 0
025 D001207 0
025 D001208 0
028 A011200 4059
028 A021200 0
028 A031200 0
028 A041200 352
028 B011200 2573
028 B021200 0
028 B031200 0
028 B041200 347
028 C011200 3293
<PAGE> PAGE 65
028 C021200 1
028 C031200 0
028 C041200 374
028 D011200 5313
028 D021200 1
028 D031200 0
028 D041200 382
028 E011200 2181
028 E021200 0
028 E031200 0
028 E041200 300
028 F011200 1203
028 F021200 5235
028 F031200 0
028 F041200 422
028 G011200 18622
028 G021200 5237
028 G031200 0
028 G041200 2177
028 H001200 10470
029 001200 Y
030 A001200 115
030 B001200 3.00
030 C001200 0.50
031 A001200 16
031 B001200 0
032 001200 0
033 001200 99
034 001200 Y
035 001200 6
036 A001200 N
036 B001200 0
037 001200 N
038 001200 0
039 001200 N
040 001200 Y
041 001200 Y
042 A001200 0
042 B001200 0
042 C001200 0
042 D001200 100
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
043 001200 168
044 001200 49
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.000
<PAGE> PAGE 66
048 A011200 100000
048 A021200 0.700
048 B011200 400000
048 B021200 0.600
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 500000
048 K021200 0.500
058 A001200 N
059 001200 Y
060 A001200 Y
060 B001200 Y
061 001200 2500
062 A001200 N
062 B001200 0.0
062 C001200 0.0
062 D001200 0.0
062 E001200 0.0
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 0.0
062 M001200 0.0
062 N001200 0.0
062 O001200 0.0
062 P001200 0.0
062 Q001200 0.0
062 R001200 0.0
066 A001200 Y
066 B001200 N
066 C001200 Y
066 D001200 N
066 E001200 N
066 F001200 N
<PAGE> PAGE 67
066 G001200 N
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 Y
070 B011200 Y
070 B021200 N
070 C011200 N
070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 Y
070 F021200 N
070 G011200 N
070 G021200 N
070 H011200 Y
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 N
070 K021200 N
070 L011200 Y
070 L021200 Y
070 M011200 Y
070 M021200 N
070 N011200 Y
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 Y
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 51958
071 B001200 31478
071 C001200 36794
071 D001200 86
072 A001200 12
072 B001200 605
072 C001200 409
072 D001200 0
072 E001200 0
072 F001200 341
<PAGE> PAGE 68
072 G001200 0
072 H001200 0
072 I001200 61
072 J001200 36
072 K001200 0
072 L001200 13
072 M001200 2
072 N001200 8
072 O001200 0
072 P001200 0
072 Q001200 0
072 R001200 13
072 S001200 1
072 T001200 168
072 U001200 0
072 V001200 0
072 W001200 5
072 X001200 648
072 Y001200 10
072 Z001200 376
072AA001200 4898
072BB001200 0
072CC011200 4496
072CC021200 0
072DD011200 344
072DD021200 33
072EE001200 4898
073 A011200 0.1126
073 A021200 0.0466
073 B001200 1.3041
073 C001200 0.0000
074 A001200 0
074 B001200 14515
074 C001200 0
074 D001200 0
074 E001200 0
074 F001200 52186
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 93
074 M001200 1
074 N001200 66795
074 O001200 0
074 P001200 0
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
<PAGE> PAGE 69
074 R041200 141
074 S001200 0
074 T001200 66654
074 U011200 3319
074 U021200 761
074 V011200 16.36
074 V021200 16.22
074 W001200 0.0000
074 X001200 4227
074 Y001200 0
075 A001200 0
075 B001200 48916
076 001200 0.00
008 A001301 ATLAS ADVISERS, INC.
008 B001301 A
008 C001301 801-30489
008 D011301 SAN LEANDRO
008 D021301 CA
008 D031301 94577
008 A001302 OPPENHEIMERFUNDS, INC.
008 B001302 S
008 C001302 801-8253
008 D011302 NEW YORK
008 D021302 NY
008 D031302 10048
015 A001301 INVESTORS BANK & TRUST COMPANY
015 B001301 C
015 C011301 BOSTON
015 C021301 MA
015 C031301 02205
015 C041301 1537
015 E011301 X
015 A001302 CHEMICAL BANK
015 B001302 S
015 C011302 NEW YORK
015 C021302 NY
015 C031302 10172
015 E011302 X
015 A001303 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B001303 S
015 C011303 NEW YORK
015 C021303 NY
015 C031303 10015
015 E011303 X
015 A001304 IRVING TRUST COMPANY
015 B001304 S
015 C011304 NEW YORK
015 C021304 NY
015 C031304 10015
015 E011304 X
015 A001305 BANKERS TRUST COMPANY
<PAGE> PAGE 70
015 B001305 S
015 C011305 NEW YORK
015 C021305 NY
015 C031305 10015
015 E011305 X
015 A001306 CITIBANK, N.A.
015 B001306 S
015 C011306 BUENOS AIRES
015 D011306 ARGENTINA
015 E041306 X
015 A001307 NATIONAL AUSTRALIA BANK LIMITED
015 B001307 S
015 C011307 MELBOURNE
015 D011307 AUSTRALIA
015 E041307 X
015 A001308 CREDITANSTALT BANKVEREIN
015 B001308 S
015 C011308 VIENNA
015 D011308 AUSTRIA
015 E041308 X
015 A001309 BANCO DE BOSTON
015 B001309 S
015 C011309 SAO PAULO
015 D011309 BRAZIL
015 E041309 X
015 A001310 ROYAL TRUST CORPORATION OF CANADA
015 B001310 S
015 C011310 TORONTO
015 D011310 CANADA
015 E041310 X
015 A001311 EUROCLEAR/KANSALLIS-OSAKE-PANKKI
015 B001311 S
015 C011311 HELSINKI
015 D011311 FINLAND
015 E041311 X
015 A001312 BANQUE PARIBAS
015 B001312 S
015 C011312 PARIS
015 D011312 FRANCE
015 E041312 X
015 A001313 EUROCLEAR/DEUTSCHE BANK A.G.
015 B001313 S
015 C011313 FRANKFURT
015 D011313 GERMANY
015 E041313 X
015 A001314 CITIBANK, N.A.
015 B001314 S
015 C011314 ATHENS
015 D011314 GREECE
015 E041314 X
015 A001315 STANDARD CHARTERED BANK
<PAGE> PAGE 71
015 B001315 S
015 C011315 HONG KONG
015 D011315 HONG KONG
015 E041315 X
015 A001316 ANZ GRINDLAYS BANK
015 B001316 S
015 C011316 BOMBAY
015 D011316 INDIA
015 E041316 X
015 A001317 STANDARD CHARTERED BANK
015 B001317 S
015 C011317 JAKARTA
015 D011317 INDONESIA
015 E041317 X
015 A001318 CITIBANK, N.A.
015 B001318 S
015 C011318 MILANO
015 D011318 ITALY
015 E041318 X
015 A001319 STANDARD CHARTERED BANK
015 B001319 S
015 C011319 TOKYO
015 D011319 JAPAN
015 E041319 X
015 A001320 EUROCLEAR/BANQUE ET CAISSE
015 B001320 S
015 C011320 LUXEMBOURG
015 D011320 LUXEMBOURG
015 E041320 X
015 A001321 STANDARD CHARTERED MALAYSIA BERHAD
015 B001321 S
015 C011321 KUALA LUMPUR
015 D011321 MALAYSIA
015 E041321 X
015 A001322 BANCOMER, S.A.
015 B001322 S
015 C011322 COLONIA JUAREZ
015 D011322 MEXICO
015 E041322 X
015 A001323 MEESPIERSON
015 B001323 S
015 C011323 AMSTERDAM
015 D011323 NETHERLANDS
015 E041323 X
015 A001324 STANDARD CHARTERED BANK
015 B001324 S
015 C011324 MANILA
015 D011324 PHILIPPINES
015 E041324 X
015 A001325 CITIBANK PORTUGAL S.A.
015 B001325 S
<PAGE> PAGE 72
015 C011325 LISBOA
015 D011325 PORTUGAL
015 E041325 X
015 A001326 CREDIT SUISSE
015 B001326 S
015 C011326 MOSCOW
015 D011326 RUSSIA
015 E041326 X
015 A001327 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001327 S
015 C011327 JOHANNESBURG
015 D011327 SOUTH AFRICA
015 E041327 X
015 A001328 BANQUE PARIBAS
015 B001328 S
015 C011328 MADRID
015 D011328 SPAIN
015 E041328 X
015 A001329 SVENSKA HANDELSBANKEN
015 B001329 S
015 C011329 STOCKHOLM
015 D011329 SWEDEN
015 E041329 X
015 A001330 BANK LEU LIMITED
015 B001330 S
015 C011330 ZURICH
015 D011330 SWITZERLAND
015 E041330 X
015 A001331 STANDARD CHARTERED BANK
015 B001331 S
015 C011331 TAIPEI
015 D011331 TAIWAN
015 E041331 X
015 A001332 STANDARD CHARTERED BANK
015 B001332 S
015 C011332 BANGKOK
015 D011332 THAILAND
015 E041332 X
015 A001333 BARCLAYS BANK PLC
015 B001333 S
015 C011333 LONDON
015 D011333 UNITED KINGDOM
015 E041333 X
024 001300 N
028 A011300 3243
028 A021300 0
028 A031300 0
028 A041300 2827
028 B011300 1525
028 B021300 0
028 B031300 0
<PAGE> PAGE 73
028 B041300 277
028 C011300 1523
028 C021300 0
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028 C041300 141
028 D011300 2152
028 D021300 0
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028 D041300 328
028 E011300 782
028 E021300 1
028 E031300 0
028 E041300 220
028 F011300 649
028 F021300 2405
028 F031300 0
028 F041300 178
028 G011300 9874
028 G021300 2406
028 G031300 0
028 G041300 3971
028 H001300 5715
029 001300 Y
030 A001300 54
030 B001300 3.00
030 C001300 0.50
031 A001300 7
031 B001300 0
032 001300 0
033 001300 47
034 001300 Y
035 001300 4
036 A001300 N
036 B001300 0
037 001300 N
038 001300 0
039 001300 N
040 001300 Y
041 001300 Y
042 A001300 0
042 B001300 0
042 C001300 0
042 D001300 100
042 E001300 0
042 F001300 0
042 G001300 0
042 H001300 0
043 001300 83
044 001300 22
045 001300 Y
046 001300 N
<PAGE> PAGE 74
047 001300 Y
048 001300 0.000
048 A011300 100000
048 A021300 0.800
048 B011300 400000
048 B021300 0.750
048 C011300 0
048 C021300 0.000
048 D011300 0
048 D021300 0.000
048 E011300 0
048 E021300 0.000
048 F011300 0
048 F021300 0.000
048 G011300 0
048 G021300 0.000
048 H011300 0
048 H021300 0.000
048 I011300 0
048 I021300 0.000
048 J011300 0
048 J021300 0.000
048 K011300 500000
048 K021300 0.700
058 A001300 N
059 001300 Y
060 A001300 Y
060 B001300 Y
061 001300 2500
062 A001300 N
062 B001300 0.0
062 C001300 0.0
062 D001300 0.0
062 E001300 0.0
062 F001300 0.0
062 G001300 0.0
062 H001300 0.0
062 I001300 0.0
062 J001300 0.0
062 K001300 0.0
062 L001300 0.0
062 M001300 0.0
062 N001300 0.0
062 O001300 0.0
062 P001300 0.0
062 Q001300 0.0
062 R001300 0.0
066 A001300 Y
066 B001300 N
066 C001300 Y
066 D001300 N
<PAGE> PAGE 75
066 E001300 N
066 F001300 N
066 G001300 N
067 001300 N
068 A001300 N
068 B001300 Y
069 001300 N
070 A011300 Y
070 A021300 Y
070 B011300 Y
070 B021300 N
070 C011300 Y
070 C021300 N
070 D011300 Y
070 D021300 N
070 E011300 Y
070 E021300 Y
070 F011300 Y
070 F021300 Y
070 G011300 Y
070 G021300 N
070 H011300 Y
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 Y
070 K011300 Y
070 K021300 Y
070 L011300 Y
070 L021300 Y
070 M011300 Y
070 M021300 Y
070 N011300 Y
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 Y
070 P021300 Y
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 25287
071 B001300 15431
071 C001300 24255
071 D001300 64
072 A001300 12
072 B001300 187
072 C001300 290
072 D001300 0
<PAGE> PAGE 76
072 E001300 0
072 F001300 216
072 G001300 0
072 H001300 0
072 I001300 43
072 J001300 105
072 K001300 0
072 L001300 8
072 M001300 1
072 N001300 4
072 O001300 0
072 P001300 0
072 Q001300 0
072 R001300 14
072 S001300 0
072 T001300 89
072 U001300 0
072 V001300 0
072 W001300 4
072 X001300 484
072 Y001300 22
072 Z001300 15
072AA001300 2240
072BB001300 0
072CC011300 2939
072CC021300 0
072DD011300 0
072DD021300 0
072EE001300 2426
073 A011300 0.0000
073 A021300 0.0000
073 B001300 0.9393
073 C001300 0.0000
074 A001300 3
074 B001300 4249
074 C001300 0
074 D001300 1476
074 E001300 0
074 F001300 29407
074 G001300 0
074 H001300 0
074 I001300 0
074 J001300 2461
074 K001300 0
074 L001300 276
074 M001300 0
074 N001300 37872
074 O001300 2610
074 P001300 0
074 Q001300 0
074 R011300 0
<PAGE> PAGE 77
074 R021300 0
074 R031300 0
074 R041300 104
074 S001300 0
074 T001300 35158
074 U011300 2322
074 U021300 453
074 V011300 12.69
074 V021300 12.55
074 W001300 0.0000
074 X001300 2515
074 Y001300 0
075 A001300 0
075 B001300 27081
076 001300 0.00
008 A001401 ATLAS ADVISERS, INC.
008 B001401 A
008 C001401 801-30489
008 D011401 SAN LEANDRO
008 D021401 CA
008 D031401 94577
008 A001402 OPPENHEIMERFUNDS, INC.
008 B001402 S
008 C001402 801-8253
008 D011402 NEW YORK
008 D021402 NY
008 D031402 10048
008 D041402 0203
015 A001401 INVESTORS BANK & TRUST COMPANY
015 B001401 C
015 C011401 BOSTON
015 C021401 MA
015 C031401 02205
015 C041401 1537
015 E011401 X
015 A001402 CHEMICAL BANK
015 B001402 S
015 C011402 NEW YORK
015 C021402 NY
015 C031402 10175
015 E011402 X
015 A001403 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B001403 S
015 C011403 NEW YORK
015 C021403 NY
015 C031403 10015
015 E011403 X
015 A001404 IRVING TRUST COMPANY
015 B001404 S
015 C011404 NEW YORK
015 C021404 NY
<PAGE> PAGE 78
015 C031404 10015
015 E011404 X
015 A001405 BANKERS TRUST COMPANY
015 B001405 S
015 C011405 NEW YORK
015 C021405 NY
015 C031405 10015
015 E011405 X
015 A001406 CITIBANK, N.A.
015 B001406 S
015 C011406 BUENOS AIRES
015 D011406 ARGENTIA
015 E041406 X
015 A001407 BANCO DE BOSTON
015 B001407 S
015 C011407 SAO PAULO
015 D011407 BRAZIL
015 E041407 X
015 A001408 ROYAL TRUST CORPORATION OF CANADA
015 B001408 S
015 C011408 TORONTO
015 D011408 CANADA
015 E041408 X
015 A001409 CITITRUST COLOMBIA S.A.
015 B001409 S
015 C011409 BOGOTA
015 D011409 COLOMBIA
015 E041409 X
015 A001410 STANDARD CHARTERED BANK
015 B001410 S
015 C011410 JAKARTA
015 D011410 INDONESIA
015 E041410 X
015 A001411 CITIBANK, N.A.
015 B001411 S
015 C011411 MILANO
015 D011411 ITALY
015 E041411 X
015 A001412 EUROCLEAR/DEUTSCHE BANK A.G.
015 B001412 S
015 C011412 FRANKFURT
015 D011412 GERMANY
015 E041412 X
015 A001413 BANCOMER, S.A.
015 B001413 S
015 C011413 COLONIA JUAREZ
015 D011413 MEXICO
015 E041413 X
015 A001414 NATIONAL AUSTRALIA BANK LIMITED
015 B001414 S
015 C011414 WELLINGTON
<PAGE> PAGE 79
015 D011414 NEW ZEALAND
015 E041414 X
015 A001415 STANDARD CHARTERED BANK
015 B001415 S
015 C011415 SINGAPORE
015 D011415 SINGAPORE
015 E041415 X
015 A001416 BANK LEU LIMITED
015 B001416 S
015 C011416 ZURICH
015 D011416 SWITZERLAND
015 E041416 X
015 A001417 BARCLAYS BANK PLC
015 B001417 S
015 C011417 LONDON
015 D011417 UNITED KINGDOM
015 E041417 X
024 001400 N
028 A011400 3378
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<PAGE> PAGE 80
031 A001400 37
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<PAGE> PAGE 81
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064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 N
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070 A021400 Y
070 B011400 Y
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070 C021400 Y
070 D011400 Y
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070 E021400 Y
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070 I011400 N
070 I021400 N
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<PAGE> PAGE 82
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070 L021400 Y
070 M011400 Y
070 M021400 Y
070 N011400 Y
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070 O011400 Y
070 O021400 N
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070 Q021400 N
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070 R021400 N
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<PAGE> PAGE 83
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008 A001501 ATLAS ADVISERS, INC.
008 B001501 A
008 C001501 801-30489
008 D011501 SAN LEANDRO
008 D021501 CA
008 D031501 94577
008 A001502 OPPENHEIMERFUNDS, INC.
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008 D021502 NY
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<PAGE> PAGE 84
015 A001501 INVESTORS BANK & TRUST COMPANY
015 B001501 C
015 C011501 BOSTON
015 C021501 MA
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015 A001503 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B001503 S
015 C011503 NEW YORK
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015 E011503 X
015 A001504 IRVING TRUST COMPANY
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015 C011504 NEW YORK
015 C021504 NY
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015 E011504 X
015 A001505 BANKERS TRUST COMPANY
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<PAGE> PAGE 85
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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SIGNATURE LARRY LACASSE
TITLE GRP SR. V. PRESIDENT
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> ATLAS U.S. GOVERNMENT & MORTGAGE SECURITIES FUND
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<NAME> ATLAS U.S. GOVERNMENT & MORTGAGE SECURITIES FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> ATLAS U.S. TREASURY MONEY FUND
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<NAME> ATLAS U.S. TREASURY MONEY FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> ATLAS U.S. GOVERNMENT INTERMEDIATE FUND
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<NAME> ATLAS U.S. GOVERNMENT INTERMEDIATE FUND
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000830144
<NAME> ATLAS GLOBAL GROWTH FUND
<SERIES>
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<NAME> CLASS B
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<S> <C>
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<ACCUMULATED-NII-CURRENT> 10
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<ACCUMULATED-NET-GAINS> (204)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3941
<NET-ASSETS> 35158
<DIVIDEND-INCOME> 289
<INTEREST-INCOME> 187
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<EXPENSES-NET> 461
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<APPREC-INCREASE-CURRENT> 2939
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<DISTRIBUTIONS-OF-GAINS> 397
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000830144
<NAME> ATLAS STATEGIC INCOME FUND
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<NUMBER> 14
<NAME> CLASS A
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<PAID-IN-CAPITAL-COMMON> 45436
<SHARES-COMMON-STOCK> 7334
<SHARES-COMMON-PRIOR> 3462
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 508
<NET-ASSETS> 45879
<DIVIDEND-INCOME> 28
<INTEREST-INCOME> 2990
<OTHER-INCOME> 0
<EXPENSES-NET> 188
<NET-INVESTMENT-INCOME> 2830
<REALIZED-GAINS-CURRENT> 445
<APPREC-INCREASE-CURRENT> 45
<NET-CHANGE-FROM-OPS> 3320
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2432
<DISTRIBUTIONS-OF-GAINS> 402
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5282
<NUMBER-OF-SHARES-REDEEMED> (1680)
<SHARES-REINVESTED> 271
<NET-CHANGE-IN-ASSETS> 25051
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (22)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 267
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 579
<AVERAGE-NET-ASSETS> 35706
<PER-SHARE-NAV-BEGIN> 5.16
<PER-SHARE-NII> .42
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.42)
<PER-SHARE-DISTRIBUTIONS> (.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.16
<EXPENSE-RATIO> .41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000830144
<NAME> ATLAS STRATEGIC INCOME FUND
<SERIES>
<NUMBER> 14
<NAME> CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 49817
<INVESTMENTS-AT-VALUE> 50234
<RECEIVABLES> 3651
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 93
<TOTAL-ASSETS> 53978
<PAYABLE-FOR-SECURITIES> 7817
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 282
<TOTAL-LIABILITIES> 8099
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45436
<SHARES-COMMON-STOCK> 1563
<SHARES-COMMON-PRIOR> 575
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (65)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 508
<NET-ASSETS> 45879
<DIVIDEND-INCOME> 28
<INTEREST-INCOME> 2990
<OTHER-INCOME> 0
<EXPENSES-NET> 188
<NET-INVESTMENT-INCOME> 2830
<REALIZED-GAINS-CURRENT> 445
<APPREC-INCREASE-CURRENT> 45
<NET-CHANGE-FROM-OPS> 3320
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 398
<DISTRIBUTIONS-OF-GAINS> 86
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1057
<NUMBER-OF-SHARES-REDEEMED> (128)
<SHARES-REINVESTED> 58
<NET-CHANGE-IN-ASSETS> 25051
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (22)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 579
<AVERAGE-NET-ASSETS> 35706
<PER-SHARE-NAV-BEGIN> 5.15
<PER-SHARE-NII> 38
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.38)
<PER-SHARE-DISTRIBUTIONS> (.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.15
<EXPENSE-RATIO> 1.16
<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
<CIK> 0000830144
<NAME> ATLAS EMERGING GROWTH FUND
<SERIES>
<NUMBER> 15
<NAME> CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> APR-30-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 11378
<INVESTMENTS-AT-VALUE> 12302
<RECEIVABLES> 10
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<TOTAL-ASSETS> 12312
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 49
<TOTAL-LIABILITIES> 49
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11550
<SHARES-COMMON-STOCK> 772
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (39)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (172)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 924
<NET-ASSETS> 12263
<DIVIDEND-INCOME> 3
<INTEREST-INCOME> 46
<OTHER-INCOME> 0
<EXPENSES-NET> 87
<NET-INVESTMENT-INCOME> (38)
<REALIZED-GAINS-CURRENT> (172)
<APPREC-INCREASE-CURRENT> 923
<NET-CHANGE-FROM-OPS> 751
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 816
<NUMBER-OF-SHARES-REDEEMED> (44)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 12263
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 43
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 118
<AVERAGE-NET-ASSETS> 8063
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.05)
<PER-SHARE-GAIN-APPREC> 3.05
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
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<PER-SHARE-NAV-END> 13.00
<EXPENSE-RATIO> 1.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000830144
<NAME> ATLAS EMERGING GROWTH FUND
<SERIES>
<NUMBER> 15
<NAME> CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> APR-30-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 11378
<INVESTMENTS-AT-VALUE> 12302
<RECEIVABLES> 10
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 12312
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 49
<TOTAL-LIABILITIES> 49
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11550
<SHARES-COMMON-STOCK> 274
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (39)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (172)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 924
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<DIVIDEND-INCOME> 3
<INTEREST-INCOME> 46
<OTHER-INCOME> 0
<EXPENSES-NET> 87
<NET-INVESTMENT-INCOME> (38)
<REALIZED-GAINS-CURRENT> (172)
<APPREC-INCREASE-CURRENT> 923
<NET-CHANGE-FROM-OPS> 751
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 182
<NUMBER-OF-SHARES-REDEEMED> (9)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 12263
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 43
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 118
<AVERAGE-NET-ASSETS> 8063
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.12)
<PER-SHARE-GAIN-APPREC> 3.05
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.93
<EXPENSE-RATIO> 2.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
INDEPENDENT AUDITORS' REPORT
Atlas Assets, Inc.:
In planning and performing our audit of the financial
statements of Atlas Assets, Inc. (Atlas U.S. Treasury Money
Fund, Atlas California Municipal Money Fund, Atlas National
Municipal Money Fund, Atlas California Municipal Bond Fund,
Atlas Strategic Income Fund, Atlas National Municipal Bond
Fund, Atlas U.S. Government and Mortgage Securities Fund,
Atlas Balanced Fund, Atlas Growth and Income Fund, Atlas
Strategic Growth Fund, Atlas Global Growth Fund and Atlas
Emerging Growth Fund)(the "Funds") for the year ended
December 31, 1997 (on which we have issued our report dated
February 13, 1998), we considered its internal control,
including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose
of expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, and not to
provide assurance on the Funds' internal control.
The management of the Funds is responsible for establishing
and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs
of controls. Generally, controls that are relevant to an
audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly
presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use, or
disposition.
Because of inherent limitations in any internal control,
errors or fraud may occur and not be detected. Also,
projection of any evaluation of internal control to future
periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness
of the design and operation may deteriorate.
Our consideration of the Funds' internal control would not
necessarily disclose all matters in internal control that
might be material weaknesses under standards established by
the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or
operation of one or more internal control components does
not reduce to a relatively low level the risk that errors or
fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving the Funds' internal control and
its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as
defined above as of December 31, 1997.
This report is intended solely for the information and use
of management, the Board of Directors of the Funds, and the
Securities and Exchange Commission.
Deloitte & Touche, LLP
February 13, 1998
Item. 77.A)C) Matters Submitted to a Vote of Security
Holders
Fund Series 08, 09, and 10 submitted proposals to their
shareholders in 1997 as follows:
Fund Series 08, Atlas U.S. Government Intermediate Fund,
approved a proposed plan of reorganization with Atlas U.S.
Government and Mortgage Securities Fund according to the
following proxy tally as of November 24, 1997:
For: 251,443.229 shares 57.11%
Against: 1,146.024 shares 0.26%
Abstain: 8,514.380 shares 1.93%
Not Voted:179,139.701 shares 40.69%
Fund Series 09, Atlas National Insured Intermediate
Municipal Fund, approved a proposed plan of reorganization
with Atlas National Municipal Bond Fund according to the
following proxy tally as of November 24, 1997:
For: 614,306.808 shares 60.74%
Against: 9,617.237 shares 0.95%
Abstain: 11,818.845 shares 1.17%
Not Voted: 375,666.317 shares 37.14%
Fund Series 10, Atlas California Insured Intermediate
Municipal Fund, approved a proposed plan of reoganization
with Atlas California Municipal Bond Fund according to the
following proxy tally as of November 24, 1997:
For: 1,010,259.224 shares 58.75%
Against: 24,730.250 shares 1.44%
Abstain: 45,463.690 shares 2.64%
Not Voted: 639,198.144 shares 37.17%
Item 77.A)M) Mergers
At the close of business on December 5, 1997 the following
Atlas fund mergers were consummated:
Atlas U.S. Government Intermediate Fund, Series number 08,
merged into Atlas U.S. Government and Mortgage Securities
Fund, Series number 05.
Atlas National Insured Intermediate Municipal Fund, Series
number 09, merged into Atlas National Municipal Bond Fund,
Series number 03.
Atlas California Insured Intermediate Municipal Fund, Series
number 10, merged into Atlas California Municipal Bond Fund,
Series number 04.
