<PAGE> PAGE 1
000 B000000 06/30/98
000 C000000 0000831957
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 AHA INVESTMENT FUNDS, INC
001 B000000 811-5534
001 C000000 8472955000
002 A000000 100 HALF DAY ROAD
002 B000000 LINCOLNSHIRE
002 C000000 IL
002 D010000 60069
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 FULL MATURITY FIXED INCOME PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 LIMITED MATURITY FIXED INCOME PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 DIVERSIFIED EQUITY PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 BALANCED PORTFOLIO
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
<PAGE> PAGE 2
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
010 A00AA01 HEWITT ASSOCIATES LLC
010 B00AA01 801-31531
010 C01AA01 LINCOLNSHIRE
010 C02AA01 IL
010 C03AA01 60069
010 A00AA02 FIRSTAR TRUST COMPANY
010 C01AA02 MILWAUKEE
010 C02AA02 WI
010 C03AA02 53202
012 A00AA01 FIRSTAR TRUST COMPANY
012 B00AA01 84-0000000
012 C01AA01 MILWAUKEE
<PAGE> PAGE 3
012 C02AA01 WI
012 C03AA01 53202
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60603
013 B04AA01 5385
015 A00AA01 FIRSTAR TRUST COMPANY
015 B00AA01 C
015 C01AA01 MILWAUKEE
015 C02AA01 WI
015 C03AA01 53202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 JEFFERIES & COMPANY
020 B000001 95-2622900
020 C000001 22
020 A000002 MORGAN STANLEY & COMPANY
020 B000002 13-2655998
020 C000002 17
020 A000003 INSTINET
020 B000003 13-2596491
020 C000003 17
020 A000004 FIRST BOSTON CO.
020 B000004 13-5659485
020 C000004 16
020 A000005 UBS SECURITIES INC.
020 B000005 13-2932996
020 C000005 13
020 A000006 SALOMON BROTHERS
020 B000006 13-5365580
020 C000006 10
020 A000007 BEAR STEARNS
020 B000007 13-4946705
020 C000007 8
020 A000008 FOXX-PITT, KELTON
020 C000008 6
020 A000009 SMIH BARNEY
020 B000009 13-1912900
020 C000009 5
020 A000010 SPEAR, LEEDS, KELLOG
020 C000010 5
021 000000 121
022 A000001 MERRILL LYNCH PIERCE & FENNER
022 B000001 13-5674085
022 C000001 154943
022 D000001 16558
022 A000002 GOLDMAN SACHS & COMPANY
022 B000002 13-5108880
<PAGE> PAGE 4
022 C000002 67352
022 D000002 66015
022 A000003 BARCLAY'S DEZOETE WEDD INCORPORATED
022 B000003 05-0346412
022 C000003 53868
022 D000003 35231
022 A000004 FIRST BOSTON
022 B000004 13-5659485
022 C000004 41816
022 D000004 41581
022 A000005 BEAR STEARNS & COMPANY
022 B000005 13-4946705
022 C000005 41010
022 D000005 40336
022 A000006 CHASE MANHATTAN
022 B000006 13-2633612
022 C000006 12447
022 D000006 42164
022 A000007 AMERICAN EXPRESS
022 C000007 50191
022 D000007 0
022 A000008 SALOMON BROTHERS
022 B000008 13-5365580
022 C000008 19401
022 D000008 18871
022 A000009 GREENWICH CAPITAL MARKETS, INC.
022 C000009 21880
022 D000009 9307
022 A000010 ASSOCIATES CORPORATION
022 C000010 30341
022 D000010 0
023 C000000 493251
023 D000000 270064
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
037 00AA00 N
038 00AA00 0
039 00AA00 Y
040 00AA00 N
045 00AA00 Y
046 00AA00 N
048 00AA00 0.000
048 A01AA00 0
<PAGE> PAGE 5
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 Y
054 F00AA00 Y
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 Y
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 Y
054 M00AA00 N
054 N00AA00 Y
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000000
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 CHUBB GROUP OF INSURANCE COMPANIES
<PAGE> PAGE 6
080 C00AA00 2025
081 A00AA00 Y
081 B00AA00 5
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 WESTERN ASSET MANAGEMENT COMPANY
008 B000101 A
008 C000101 801-08162
008 D010101 PASADENA
008 D020101 CA
008 D030101 91105
008 A000102 FIRSTAR INVESTMENT RESEARCH & MANAGEMENT CO.
008 B000102 A
008 C000102 801-28084
008 D010102 MILWAUKEE
008 D020102 WI
008 D030102 53202
024 000100 Y
025 A000101 LEHMAN BROTHERS
025 B000101 13-2518466
025 C000101 D
025 D000101 484
025 A000102 PAINE WEBBER INCORPORATED
025 B000102 13-2638166
025 C000102 D
025 D000102 153
025 A000103 BANKERS TRUST COMPANY
025 C000103 D
025 D000103 1064
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
<PAGE> PAGE 7
025 D000108 0
028 A010100 11
028 A020100 343
028 A030100 0
028 A040100 2506
028 B010100 8
028 B020100 315
028 B030100 0
028 B040100 0
028 C010100 368
028 C020100 341
028 C030100 0
028 C040100 153
028 D010100 1
028 D020100 340
028 D030100 0
028 D040100 1856
028 E010100 4
028 E020100 344
028 E030100 0
028 E040100 0
028 F010100 4201
028 F020100 352
028 F030100 0
028 F040100 28
028 G010100 4593
028 G020100 2035
028 G030100 0
028 G040100 4543
028 H000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.2
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 20.6
062 J000100 0.0
062 K000100 0.0
062 L000100 -15.0
062 M000100 28.5
062 N000100 30.0
062 O000100 0.0
062 P000100 35.1
062 Q000100 0.6
062 R000100 0.0
063 A000100 0
063 B000100 9.6
064 A000100 N
<PAGE> PAGE 8
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 Y
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 138052
071 B000100 120184
071 C000100 67324
071 D000100 178
072 A000100 12
072 B000100 4028
072 C000100 0
072 D000100 0
072 E000100 0
<PAGE> PAGE 9
072 F000100 0
072 G000100 5
072 H000100 0
072 I000100 10
072 J000100 17
072 K000100 0
072 L000100 0
072 M000100 6
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 43
072 R000100 12
072 S000100 8
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 8
072 X000100 109
072 Y000100 0
072 Z000100 3919
072AA000100 1363
072BB000100 588
072CC010100 1500
072CC020100 0
072DD010100 3919
072DD020100 0
072EE000100 0
073 A010100 0.6362
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 14971
074 D000100 67218
074 E000100 413
074 F000100 0
074 G000100 0
074 H000100 3
074 I000100 0
074 J000100 399
074 K000100 0
074 L000100 911
074 M000100 6
074 N000100 83921
074 O000100 12059
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
<PAGE> PAGE 10
074 R030100 0
074 R040100 33
074 S000100 0
074 T000100 71829
074 U010100 7058
074 U020100 0
074 V010100 10.18
074 V020100 0.00
074 W000100 0.0000
074 X000100 19
074 Y000100 0
075 A000100 0
075 B000100 63260
076 000100 0.00
008 A000201 THE PATTERSON CAPITAL CORPORATION
008 B000201 A
008 C000201 801-13828
008 D010201 LOS ANGELES
008 D020201 CA
008 D030201 90067
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 7804
028 A020200 535
028 A030200 0
028 A040200 2530
028 B010200 2303
028 B020200 507
028 B030200 0
028 B040200 1963
028 C010200 13662
028 C020200 574
028 C030200 0
028 C040200 5334
028 D010200 4570
028 D020200 580
028 D030200 0
028 D040200 2474
028 E010200 2602
028 E020200 607
028 E030200 0
028 E040200 1800
028 F010200 15404
028 F020200 591
<PAGE> PAGE 11
028 F030200 0
028 F040200 14900
028 G010200 46345
028 G020200 3394
028 G030200 0
028 G040200 29001
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 0.6
062 J000200 0.0
062 K000200 0.0
062 L000200 1.5
062 M000200 57.0
062 N000200 4.0
062 O000200 0.0
062 P000200 36.9
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 1.7
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
<PAGE> PAGE 12
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 173479
071 B000200 184226
071 C000200 119668
071 D000200 145
072 A000200 12
072 B000200 7200
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 0
072 G000200 4
072 H000200 0
072 I000200 19
072 J000200 26
072 K000200 0
072 L000200 0
072 M000200 6
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 47
072 R000200 12
072 S000200 8
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 22
072 X000200 144
072 Y000200 0
072 Z000200 7056
072AA000200 740
072BB000200 137
<PAGE> PAGE 13
072CC010200 112
072CC020200 0
072DD010200 7056
072DD020200 0
072EE000200 0
073 A010200 0.5995
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 1
074 B000200 0
074 C000200 770
074 D000200 127003
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 1970
074 M000200 12
074 N000200 129756
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 39
074 S000200 0
074 T000200 129717
074 U010200 12687
074 U020200 0
074 V010200 10.22
074 V020200 0.00
074 W000200 0.0000
074 X000200 48
074 Y000200 0
075 A000200 0
075 B000200 119147
076 000200 0.00
008 A000301 CAMBIAR INVESTORS, INC
008 B000301 A
008 C000301 801-9538
008 D010301 DENVER
008 D020301 CO
008 D030301 80111
008 A000302 INVESTMENT RESEARCH COMPANY
008 B000302 A
008 C000302 801-31292
<PAGE> PAGE 14
008 D010302 RANCHO SANTA FE
008 D020302 CA
008 D030302 92067
024 000300 N
025 A000301 MERRILL LYNCH COMPANY
025 C000301 E
025 D000301 387
025 A000302 BANKERS TRUST COMPANY
025 C000302 E
025 D000302 46
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 467
028 A020300 0
028 A030300 0
028 A040300 7532
028 B010300 2272
028 B020300 0
028 B030300 0
028 B040300 0
028 C010300 2075
028 C020300 278
028 C030300 0
028 C040300 0
028 D010300 133
028 D020300 0
028 D030300 0
028 D040300 2121
028 E010300 556
028 E020300 0
028 E030300 0
028 E040300 576
028 F010300 9670
028 F020300 317
028 F030300 0
028 F040300 4289
028 G010300 15173
028 G020300 595
028 G030300 0
028 G040300 14518
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
<PAGE> PAGE 15
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
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
<PAGE> PAGE 16
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 49905
071 B000300 52532
071 C000300 75820
071 D000300 66
072 A000300 12
072 B000300 83
072 C000300 1180
072 D000300 0
072 E000300 0
072 F000300 0
072 G000300 5
072 H000300 0
072 I000300 12
072 J000300 20
072 K000300 0
072 L000300 0
072 M000300 6
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 34
072 R000300 12
072 S000300 8
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 11
072 X000300 108
072 Y000300 0
072 Z000300 1155
072AA000300 15773
072BB000300 1242
072CC010300 910
072CC020300 0
072DD010300 1147
072DD020300 0
072EE000300 14645
073 A010300 0.3200
073 A020300 0.0000
073 B000300 4.4941
073 C000300 0.0000
074 A000300 0
074 B000300 0
<PAGE> PAGE 17
074 C000300 3321
074 D000300 0
074 E000300 0
074 F000300 82222
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 36
074 K000300 0
074 L000300 1748
074 M000300 6
074 N000300 87333
074 O000300 1588
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 9
074 S000300 0
074 T000300 85736
074 U010300 4209
074 U020300 0
074 V010300 20.37
074 V020300 0.00
074 W000300 0.0000
074 X000300 26
074 Y000300 0
075 A000300 0
075 B000300 76523
076 000300 0.00
008 A000401 CAMBIAR INVESTORS, IN
008 B000401 A
008 C000401 801-9538
008 D010401 DENVER
008 D020401 CO
008 D030401 80111
008 A000402 WESTERN ASSET MANAGEMENT COMPANY
008 B000402 A
008 C000402 801-08162
008 D010402 PASADENA
008 D020402 CA
008 D030402 91105
024 000400 N
025 D000401 0
025 D000402 0
025 D000403 0
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
<PAGE> PAGE 18
025 D000408 0
028 A010400 1300
028 A020400 0
028 A030400 0
028 A040400 117
028 B010400 0
028 B020400 0
028 B030400 0
028 B040400 0
028 C010400 0
028 C020400 335
028 C030400 0
028 C040400 0
028 D010400 0
028 D020400 0
028 D030400 0
028 D040400 430
028 E010400 0
028 E020400 0
028 E030400 0
028 E040400 0
028 F010400 0
028 F020400 368
028 F030400 0
028 F040400 24
028 G010400 1300
028 G020400 703
028 G030400 0
028 G040400 571
028 H000400 0
062 A000400 N
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 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
<PAGE> PAGE 19
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 Y
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 Y
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 Y
070 G010400 Y
070 G020400 Y
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 106190
071 B000400 103300
071 C000400 61111
071 D000400 169
072 A000400 6
072 B000400 1253
072 C000400 520
<PAGE> PAGE 20
072 D000400 0
072 E000400 0
072 F000400 0
072 G000400 6
072 H000400 0
072 I000400 9
072 J000400 24
072 K000400 0
072 L000400 0
072 M000400 6
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 30
072 R000400 12
072 S000400 8
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 8
072 X000400 103
072 Y000400 0
072 Z000400 1670
072AA000400 8844
072BB000400 1420
072CC010400 284
072CC020400 0
072DD010400 1663
072DD020400 0
072EE000400 7943
073 A010400 0.4400
073 A020400 0.0000
073 B000400 2.2330
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 6405
074 D000400 20107
074 E000400 260
074 F000400 38902
074 G000400 0
074 H000400 2
074 I000400 0
074 J000400 1639
074 K000400 0
074 L000400 295
074 M000400 8
074 N000400 67618
074 O000400 8224
074 P000400 0
074 Q000400 0
<PAGE> PAGE 21
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 34
074 S000400 0
074 T000400 59360
074 U010400 4062
074 U020400 0
074 V010400 14.61
074 V020400 0.00
074 W000400 0.0000
074 X000400 12
074 Y000400 0
075 A000400 0
075 B000400 58433
076 000400 0.00
042 A003300 0
042 B003300 0
042 C003300 0
042 D003300 0
042 E003300 0
042 F003300 0
042 G003300 0
042 H003300 0
043 003300 0
044 003300 0
SIGNATURE RONALD A. JONES
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831957
<NAME> AHA INVESTMENT FUNDS, INC.
<SERIES>
<NUMBER>01
<NAME> FULL MATURITY FIXED INCOME PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 81,127
<INVESTMENTS-AT-VALUE> 82,602
<RECEIVABLES> 1,310
<ASSETS-OTHER> 9
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 83,921
<PAYABLE-FOR-SECURITIES> 12,059
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33
<TOTAL-LIABILITIES> 12,092
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 71,434
<SHARES-COMMON-STOCK> 7,058
<SHARES-COMMON-PRIOR> 5,190
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,058)
<ACCUM-APPREC-OR-DEPREC> 1,453
<NET-ASSETS> 71,829
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,028
<OTHER-INCOME> 0
<EXPENSES-NET> 109
<NET-INVESTMENT-INCOME> 3,919
<REALIZED-GAINS-CURRENT> 775
<APPREC-INCREASE-CURRENT> 1,500
<NET-CHANGE-FROM-OPS> 6,194
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,919
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,961
<NUMBER-OF-SHARES-REDEEMED> 481
<SHARES-REINVESTED> 388
<NET-CHANGE-IN-ASSETS> 21,033
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1,834)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 109
<AVERAGE-NET-ASSETS> 63,260
<PER-SHARE-NAV-BEGIN> 9.790
<PER-SHARE-NII> 0.640
<PER-SHARE-GAIN-APPREC> 0.390
<PER-SHARE-DIVIDEND> 0.640
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.180
<EXPENSE-RATIO> 0.170
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831957
<NAME> AHA INVESTMENT FUNDS, INC.
<SERIES>
<NUMBER> 02
<NAME> LIMITED MATURITY FIXED INCOME PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 127,343
<INVESTMENTS-AT-VALUE> 127,773
<RECEIVABLES> 1,972
<ASSETS-OTHER> 11
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 129,756
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40
<TOTAL-LIABILITIES> 40
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 132,415
<SHARES-COMMON-STOCK> 12,687
<SHARES-COMMON-PRIOR> 13,874
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3,128)
<ACCUM-APPREC-OR-DEPREC> 429
<NET-ASSETS> 129,717
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,200
<OTHER-INCOME> 0
<EXPENSES-NET> 144
<NET-INVESTMENT-INCOME> 7,056
<REALIZED-GAINS-CURRENT> 603
<APPREC-INCREASE-CURRENT> 112
<NET-CHANGE-FROM-OPS> 7,771
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7,056
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,517
<NUMBER-OF-SHARES-REDEEMED> 8,360
<SHARES-REINVESTED> 656
<NET-CHANGE-IN-ASSETS> 21,033
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3,731)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 144
<AVERAGE-NET-ASSETS> 119,147
<PER-SHARE-NAV-BEGIN> 10.160
<PER-SHARE-NII> 0.600
<PER-SHARE-GAIN-APPREC> 0.060
<PER-SHARE-DIVIDEND> 0.600
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.220
<EXPENSE-RATIO> 0.120
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831957
<NAME> AHA INVESTMENT FUNDS, INC.
<SERIES>
<NUMBER>03
<NAME> DIVERSIFIED EQUITY PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 68,424
<INVESTMENTS-AT-VALUE> 85,542
<RECEIVABLES> 1,784
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 87,333
<PAYABLE-FOR-SECURITIES> 1,588
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9
<TOTAL-LIABILITIES> 1,597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 60,702
<SHARES-COMMON-STOCK> 4,209
<SHARES-COMMON-PRIOR> 3,407
<ACCUMULATED-NII-CURRENT> 54
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7,861
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,119
<NET-ASSETS> 85,736
<DIVIDEND-INCOME> 1,181
<INTEREST-INCOME> 82
<OTHER-INCOME> 0
<EXPENSES-NET> 108
<NET-INVESTMENT-INCOME> 1,155
<REALIZED-GAINS-CURRENT> 14,531
<APPREC-INCREASE-CURRENT> 910
<NET-CHANGE-FROM-OPS> 16,596
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,146
<DISTRIBUTIONS-OF-GAINS> 14,645
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 994
<NUMBER-OF-SHARES-REDEEMED> 1,069
<SHARES-REINVESTED> 877
<NET-CHANGE-IN-ASSETS> 9,007
<ACCUMULATED-NII-PRIOR> 46
<ACCUMULATED-GAINS-PRIOR> 7,975
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 108
<AVERAGE-NET-ASSETS> 76,523
<PER-SHARE-NAV-BEGIN> 20.720
<PER-SHARE-NII> 0.320
<PER-SHARE-GAIN-APPREC> 4.140
<PER-SHARE-DIVIDEND> 0.320
<PER-SHARE-DISTRIBUTIONS> 4.490
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 20.370
<EXPENSE-RATIO> 0.140
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831957
<NAME> AHA INVESTMENT FUNDS, INC.
<SERIES>
<NUMBER>04
<NAME> BALANCED PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 56,609
<INVESTMENTS-AT-VALUE> 65,674
<RECEIVABLES> 1,935
<ASSETS-OTHER> 9
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 67,618
<PAYABLE-FOR-SECURITIES> 8,224
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 34
<TOTAL-LIABILITIES> 8,258
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45,996
<SHARES-COMMON-STOCK> 4,062
<SHARES-COMMON-PRIOR> 3,508
<ACCUMULATED-NII-CURRENT> 778
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,531
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,054
<NET-ASSETS> 59,360
<DIVIDEND-INCOME> 520
<INTEREST-INCOME> 1,254
<OTHER-INCOME> 0
<EXPENSES-NET> 104
<NET-INVESTMENT-INCOME> 1,670
<REALIZED-GAINS-CURRENT> 7,424
<APPREC-INCREASE-CURRENT> 284
<NET-CHANGE-FROM-OPS> 9,378
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,663
<DISTRIBUTIONS-OF-GAINS> 7,943
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 583
<NUMBER-OF-SHARES-REDEEMED> 604
<SHARES-REINVESTED> 575
<NET-CHANGE-IN-ASSETS> 7,222
<ACCUMULATED-NII-PRIOR> 787
<ACCUMULATED-GAINS-PRIOR> 4,051
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 104
<AVERAGE-NET-ASSETS> 58,433
<PER-SHARE-NAV-BEGIN> 14.860
<PER-SHARE-NII> 0.410
<PER-SHARE-GAIN-APPREC> 2.010
<PER-SHARE-DIVIDEND> 0.440
<PER-SHARE-DISTRIBUTIONS> 2.230
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 14.610
<EXPENSE-RATIO> 0.180
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
To the Shareholders and
Board of Directors of
AHA Investment Funds, Inc.-
Full Maturity Fixed Income Portfolio
Limited Maturity Fixed Income Portfolio
Diversified Equity Portfolio
Balanced Portfolio:
In planning and performing our audit of the financial statements
of AHA INVESTMENT FUNDS, INC. (a Maryland corporation, comprising
the Full Maturity Fixed Income Portfolio, Limited Maturity Fixed
Income Portfolio, Diversified Equity Portfolio and Balanced Portfolio)
for the year ended June 30, 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, not to provide assurance on internal control.
The management of AHA Investment Funds, Inc. 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 control activities.
Generally, control activities 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 control activities include the safeguarding of assets
against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
irregularities 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 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 any specific internal control components does not reduce to a
relatively low level the risk that errors or irregularities 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 internal control, including control activities for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1998.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ ARTHUR ANDERSEN LLP
ARTHUR ANDERSEN LLP
Chicago, Illinois
August 5, 1998
