<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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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 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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015 E040427 X
015 A000428 MEESPIERSON N.V.
015 B000428 S
015 C010428 NA
015 D010428 NETHERLANDS
015 E040428 X
015 A000429 ANZ BANKING GROUP (NEW ZEALAND) LTD
015 B000429 S
015 C010429 NA
015 D010429 NEW ZEALAND
015 E040429 X
015 A000430 CHRISTIANIA BANK OG KREDITKASSE
015 B000430 S
015 C010430 NA
015 D010430 NORWAY
015 E040430 X
015 A000431 DEUTSCHE BANK AG
015 B000431 S
015 C010431 NA
015 D010431 PAKISTAN
015 E040431 X
015 A000432 CITIBANK
015 B000432 S
015 C010432 NA
015 D010432 PERU
015 E040432 X
015 A000433 STANDARD CHARTERED BANK
015 B000433 S
015 C010433 NA
015 D010433 PHILIPPINES
015 E040433 X
015 A000434 CITIBANK POLAND S.A.
015 B000434 S
015 C010434 NA
015 D010434 POLAND
015 E040434 X
015 A000435 BANCO COMERCIAL PORTUGUES
015 B000435 S
015 C010435 NA
015 D010435 PORTUGAL
<PAGE> PAGE 21
015 E040435 X
015 A000436 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000436 S
015 C010436 NA
015 D010436 SINGAPORE
015 E040436 X
015 A000437 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B000437 S
015 C010437 NA
015 D010437 SLOVAK REPUBLIC
015 E040437 X
015 A000438 STANDARD BANK OF SOUTH AFRICA LTD.
015 B000438 S
015 C010438 NA
015 D010438 SOUTH AFRICA
015 E040438 X
015 A000439 BANCO SANTANDER, S.A.
015 B000439 S
015 C010439 NA
015 D010439 SPAIN
015 E040439 X
015 A000440 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000440 S
015 C010440 NA
015 D010440 SRI LANKA
015 E040440 X
015 A000441 SKANDINAVISKA ENSKILDA BANKEN
015 B000441 S
015 C010441 NA
015 D010441 SWEDEN
015 E040441 X
015 A000442 UNION BANK OF SWITZERLAND
015 B000442 S
015 C010442 NA
015 D010442 SWITZERLAND
015 E040442 X
015 A000443 CENTRAL TRUST OF CHINA
015 B000443 S
015 C010443 NA
015 D010443 TAIWAN
015 E040443 X
015 A000444 STANDARD CHARTERED BANK
015 B000444 S
015 C010444 NA
015 D010444 THAILAND
015 E040444 X
015 A000445 CITIBANK, N.A.
015 B000445 S
015 C010445 NA
015 D010445 TURKEY
015 E040445 X
<PAGE> PAGE 22
015 A000446 STATE STREET BANK AND TRUST CO.
015 B000446 S
015 C010446 NA
015 D010446 UK
015 E040446 X
015 A000447 STATE STREET LONDON LTD.
015 B000447 S
015 C010447 NA
015 D010447 UK
015 E040447 X
028 A010400 9275
028 A020400 0
028 A030400 0
028 A040400 7240
028 B010400 12785
028 B020400 0
028 B030400 0
028 B040400 11237
028 C010400 11878
028 C020400 0
028 C030400 0
028 C040400 10742
028 D010400 14910
028 D020400 0
028 D030400 0
028 D040400 11716
028 E010400 11476
028 E020400 0
028 E030400 0
028 E040400 10345
028 F010400 16900
028 F020400 2808
028 F030400 0
028 F040400 16981
028 G010400 77224
028 G020400 2808
028 G030400 0
028 G040400 68261
028 H000400 14229
029 000400 Y
030 A000400 126
030 B000400 4.50
030 C000400 0.00
031 A000400 18
031 B000400 0
032 000400 0
033 000400 108
034 000400 Y
035 000400 33
036 A000400 N
036 B000400 33
<PAGE> PAGE 23
037 000400 Y
038 000400 0
039 000400 Y
040 000400 Y
041 000400 Y
042 A000400 4
042 B000400 0
042 C000400 0
042 D000400 8
042 E000400 88
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 33
044 000400 0
045 000400 Y
046 000400 Y
047 000400 Y
048 000400 0.800
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
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
<PAGE> PAGE 24
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 D000400 Y
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 52933
<PAGE> PAGE 25
071 B000400 37250
071 C000400 83993
071 D000400 44
072 A000400 12
072 B000400 197
072 C000400 1172
072 D000400 0
072 E000400 0
072 F000400 705
072 G000400 220
072 H000400 0
072 I000400 173
072 J000400 210
072 K000400 0
072 L000400 8
072 M000400 22
072 N000400 38
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 21
072 S000400 4
072 T000400 61
072 U000400 1
072 V000400 0
072 W000400 2
072 X000400 1465
072 Y000400 0
072 Z000400 -96
072AA000400 4323
072BB000400 0
072CC010400 11034
072CC020400 0
072DD010400 28
072DD020400 0
072EE000400 4324
073 A010400 0.0100
073 A020400 0.0000
073 B000400 0.8100
073 C000400 0.0000
074 A000400 1
074 B000400 1033
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 102557
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
<PAGE> PAGE 26
074 L000400 306
074 M000400 838
074 N000400 104735
074 O000400 12
074 P000400 392
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 243
074 S000400 0
074 T000400 104088
074 U010400 5100
074 U020400 569
074 V010400 18.41
074 V020400 17.97
074 W000400 0.0000
074 X000400 6256
074 Y000400 0
075 A000400 0
075 B000400 88145
076 000400 0.00
080 A000400 NATIONAL UNION INSURANCE OF PITTSBURGH PA
080 C000400 525
081 A000400 Y
081 B000400 14
082 A000400 Y
082 B000400 100
083 A000400 N
083 B000400 0
084 A000400 N
084 B000400 0
085 A000400 Y
085 B000400 N
015 A000501 CITIBANK
015 B000501 S
015 C010501 NA
015 D010501 ARGENTINA
015 E040501 X
015 A000502 WESTPAC BANKING CORP.
015 B000502 S
015 C010502 NA
015 D010502 AUSTRALIA
015 E040502 X
015 A000503 GIROCREDIT BANK AKTIENGESELLSCHAFT DER
015 B000503 S
015 C010503 NA
015 D010503 AUSTRIA
015 E040503 X
015 A000504 GENERALE BANK
015 B000504 S
<PAGE> PAGE 27
015 C010504 NA
015 D010504 BELGIUM
015 E040504 X
015 A000505 CITIBANK
015 B000505 S
015 C010505 NA
015 D010505 BRAZIL
015 E040505 X
015 A000506 CITIBANK
015 B000506 S
015 C010506 NA
015 D010506 CHILE
015 E040506 X
015 A000507 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000507 S
015 C010507 NA
015 D010507 CHINA
015 E040507 X
015 A000508 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000508 S
015 C010508 NA
015 D010508 COLOMBIA
015 E040508 X
015 A000509 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B000509 S
015 C010509 NA
015 D010509 CZECH REPUBLIC
015 E040509 X
015 A000510 DEN DANSKE BANK
015 B000510 S
015 C010510 NA
015 D010510 DENMARK
015 E040510 X
015 A000511 MERITA BANK LIMITED
015 B000511 S
015 C010511 NA
015 D010511 FINLAND
015 E040511 X
015 A000512 BANQUE PARIBAS
015 B000512 S
015 C010512 NA
015 D010512 FRANCE
015 E040512 X
015 A000513 DRESDNER BANK AG
015 B000513 S
015 C010513 NA
015 D010513 GERMANY
015 E040513 X
015 A000514 NATIONAL BANK OF GREECE S.A.
015 B000514 S
015 C010514 NA
<PAGE> PAGE 28
015 D010514 GREECE
015 E040514 X
015 A000515 STANDARD CHARTERED BANK
015 B000515 S
015 C010515 NA
015 D010515 HONGKONG
015 E040515 X
015 A000516 CITIBANK BUDAPEST RT.
015 B000516 S
015 C010516 NA
015 D010516 HUNGARY
015 E040516 X
015 A000517 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000517 S
015 C010517 NA
015 D010517 INDIA
015 E040517 X
015 A000518 DEUTSCHE BANK AG
015 B000518 S
015 C010518 NA
015 D010518 INDIA
015 E040518 X
015 A000519 STANDARD CHARTERED BANK
015 B000519 S
015 C010519 NA
015 D010519 INDONESIA
015 E040519 X
015 A000520 BANK OF IRELAND
015 B000520 S
015 C010520 NA
015 D010520 IRELAND
015 E040520 X
015 A000521 BANK HAPOALIM B.M.
015 B000521 S
015 C010521 NA
015 D010521 ISRAEL
015 E040521 X
015 A000522 BANQUE PARIBAS
015 B000522 S
015 C010522 NA
015 D010522 ITALY
015 E040522 X
015 A000523 SUMITOMO TRUST & BANKING CO.
015 B000523 S
015 C010523 NA
015 D010523 JAPAN
015 E040523 X
015 A000524 THE FUJI BANK, LTD.
015 B000524 S
015 C010524 NA
015 D010524 JAPAN
<PAGE> PAGE 29
015 E040524 X
015 A000525 SEOULBANK
015 B000525 S
015 C010525 NA
015 D010525 KOREA
015 E040525 X
015 A000526 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B000526 S
015 C010526 NA
015 D010526 MALAYSIA
015 E040526 X
015 A000527 CITIBANK MEXICO, S.A.
015 B000527 S
015 C010527 NA
015 D010527 MEXICO
015 E040527 X
015 A000528 MEESPIERSON N.V.
015 B000528 S
015 C010528 NA
015 D010528 NETHERLANDS
015 E040528 X
015 A000529 ANZ BANKING GROUP (NEW ZEALAND) LTD.
015 B000529 S
015 C010529 NA
015 D010529 NEW ZEALAND
015 E040529 X
015 A000530 CHRISTIANIA BANK OG KREDITKASSE
015 B000530 S
015 C010530 NA
015 D010530 NORWAY
015 E040530 X
015 A000531 DEUTSCHE BANK AG
015 B000531 S
015 C010531 NA
015 D010531 PAKISTAN
015 E040531 X
015 A000532 CITIBANK,
015 B000532 S
015 C010532 NA
015 D010532 PERU
015 E040532 X
015 A000533 STANDARD CHARTERED BANK
015 B000533 S
015 C010533 NA
015 D010533 PHILIPPINES
015 E040533 X
015 A000534 CITIBANK POLAND S.A.
015 B000534 S
015 C010534 NA
015 D010534 POLAND
015 E040534 X
<PAGE> PAGE 30
015 A000535 BANCO COMERCIAL PORTUGUES
015 B000535 S
015 C010535 NA
015 D010535 PORTUGAL
015 E040535 X
015 A000536 THE DEVELOPMENT BANK OF SINGAPORE LTD
015 B000536 S
015 C010536 NA
015 D010536 SINGAPORE
015 E040536 X
015 A000537 CESKOSLOVENSKA OBCHODNA AFRICA BANKA
015 B000537 S
015 C010537 NA
015 D010537 SLOVAK REPUBLIC
015 E040537 X
015 A000538 STANDARD BANK OF SOUTH AFRICA LTD.
015 B000538 S
015 C010538 NA
015 D010538 SOUTH AFRICA
015 E040538 X
015 A000539 BANCO SANTANDER, S.A.
015 B000539 S
015 C010539 NA
015 D010539 SPAIN
015 E040539 X
015 A000540 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000540 S
015 C010540 NA
015 D010540 SRI LANKA
015 E040540 X
015 A000541 SKANDINAVISKA ENSKILDA BANKEN
015 B000541 S
015 C010541 NA
015 D010541 SWEDEN
015 E040541 X
015 A000542 UNION BANK OF SWITZERLAND
015 B000542 S
015 C010542 NA
015 D010542 SWITZERLAND
015 E040542 X
015 A000543 CENTRAL TRUST OF CHINA
015 B000543 S
015 C010543 NA
015 D010543 TAIWAN
015 E040543 X
015 A000544 STANDARD CHARTERED BANK
015 B000544 S
015 C010544 NA
015 D010544 THAILAND
015 E040544 X
015 A000545 CITIBANK
<PAGE> PAGE 31
015 B000545 S
015 C010545 NA
015 D010545 TURKEY
015 E040545 X
015 A000546 STATE STREET BANK AND TRUST CO.
015 B000546 S
015 C010546 NA
015 D010546 UK
015 E040546 X
015 A000547 STATE STREET LONDON LTD.
015 B000547 S
015 C010547 NA
015 D010547 UK
015 E040547 X
028 A010500 226
028 A020500 0
028 A030500 0
028 A040500 221
028 B010500 126
028 B020500 0
028 B030500 0
028 B040500 176
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028 G040500 775
028 H000500 769
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030 C000500 0.00
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<PAGE> PAGE 32
034 000500 Y
035 000500 5
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037 000500 Y
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039 000500 Y
040 000500 Y
041 000500 Y
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048 I020500 0.000
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062 A000500 N
062 B000500 0.0
062 C000500 0.0
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062 E000500 0.0
062 F000500 0.0
<PAGE> PAGE 33
062 G000500 0.0
062 H000500 0.0
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062 J000500 0.0
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062 O000500 0.0
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062 Q000500 0.0
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066 A000500 Y
066 D000500 Y
067 000500 N
068 A000500 N
068 B000500 Y
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 Y
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 Y
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070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 N
070 N020500 N
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070 O020500 N
070 P010500 N
070 P020500 N
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<PAGE> PAGE 34
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 15648
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074 D000500 1179
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<PAGE> PAGE 35
074 H000500 0
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075 A000500 0
075 B000500 20011
076 000500 0.00
080 A000500 NATIONAL UNION INSURANCE OF PITTSBURGH PA
080 C000500 350
081 A000500 Y
081 B000500 14
082 A000500 Y
082 B000500 100
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083 B000500 0
084 A000500 N
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<PAGE> PAGE 36
028 D020600 558
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<PAGE> PAGE 37
048 F010600 0
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062 I000600 20.2
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063 B000600 11.4
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064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
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070 B020600 N
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070 D020600 N
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070 E020600 N
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070 F020600 N
<PAGE> PAGE 38
070 G010600 Y
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070 H020600 N
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070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
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070 P020600 N
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070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 412205
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<PAGE> PAGE 39
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074 B000600 1472
074 C000600 28722
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075 B000600 123470
076 000600 0.00
080 A000600 NATIONAL UNION INSURANCE OF PITTSBURGH PA
080 C000600 525
081 A000600 Y
081 B000600 14
<PAGE> PAGE 40
082 A000600 Y
082 B000600 100
083 A000600 N
083 B000600 0
084 A000600 N
084 B000600 0
085 A000600 Y
085 B000600 N
028 A010700 18165
028 A020700 40
028 A030700 0
028 A040700 0
028 B010700 18239
028 B020700 173
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028 B040700 0
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028 D040700 32
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028 F040700 32
028 G010700 52040
028 G020700 1457
028 G030700 0
028 G040700 107
028 H000700 50646
029 000700 Y
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031 B000700 0
032 000700 0
033 000700 0
034 000700 Y
035 000700 5
036 A000700 N
036 B000700 5
042 A000700 2
042 B000700 0
<PAGE> PAGE 41
042 C000700 0
042 D000700 3
042 E000700 95
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 5
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.600
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 1.7
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 2.2
062 M000700 0.0
062 N000700 0.0
062 O000700 94.8
062 P000700 96.1
062 Q000700 0.0
<PAGE> PAGE 42
062 R000700 0.0
063 A000700 0
063 B000700 7.8
064 A000700 N
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 N
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 Y
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 N
070 M010700 Y
070 M020700 N
070 N010700 N
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 Y
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 55022
071 B000700 3815
071 C000700 33263
071 D000700 11
072 A000700 6
<PAGE> PAGE 43
072 B000700 1606
072 C000700 0
072 D000700 0
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072 M000700 13
072 N000700 6
072 O000700 0
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072 T000700 5
072 U000700 0
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072 W000700 1
072 X000700 234
072 Y000700 89
072 Z000700 1461
072AA000700 92
072BB000700 0
072CC010700 279
072CC020700 0
072DD010700 1412
072DD020700 49
072EE000700 0
073 A010700 0.3800
073 A020700 0.3100
073 B000700 0.0000
073 C000700 0.0000
074 A000700 1
074 B000700 935
074 C000700 0
074 D000700 51676
074 E000700 0
074 F000700 0
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074 H000700 0
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074 M000700 0
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<PAGE> PAGE 44
074 P000700 96
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 2
074 S000700 0
074 T000700 53771
074 U010700 5214
074 U020700 253
074 V010700 9.84
074 V020700 9.83
074 W000700 0.0000
074 X000700 185
074 Y000700 0
075 A000700 0
075 B000700 36309
076 000700 0.00
080 A000700 NATIONAL UNION INSURANCE OF PITTSBURGH PA
080 C000700 0
081 A000700 Y
081 B000700 14
082 A000700 Y
082 B000700 100
083 A000700 N
083 B000700 0
084 A000700 N
084 B000700 0
085 A000700 Y
085 B000700 N
028 A010800 413
028 A020800 170
028 A030800 0
028 A040800 109
028 B010800 145
028 B020800 171
028 B030800 0
028 B040800 382
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028 C020800 176
028 C030800 0
028 C040800 111
028 D010800 7565
028 D020800 180
028 D030800 0
028 D040800 176
028 E010800 1106
028 E020800 208
028 E030800 0
028 E040800 104
028 F010800 10737
<PAGE> PAGE 45
028 F020800 397
028 F030800 0
028 F040800 44
028 G010800 21323
028 G020800 1302
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028 G040800 926
028 H000800 20382
029 000800 Y
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030 B000800 4.50
030 C000800 0.00
031 A000800 18
031 B000800 0
032 000800 0
033 000800 63
034 000800 N
035 000800 0
036 B000800 0
037 000800 Y
038 000800 0
039 000800 Y
040 000800 Y
041 000800 Y
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042 B000800 0
042 C000800 0
042 D000800 0
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 0
043 000800 0
044 000800 0
045 000800 Y
046 000800 N
047 000800 Y
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048 A020800 0.000
048 B010800 0
048 B020800 0.000
048 C010800 0
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048 D020800 0.000
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048 E020800 0.000
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048 F020800 0.000
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<PAGE> PAGE 46
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
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048 K020800 0.000
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 -0.8
062 M000800 0.0
062 N000800 0.0
062 O000800 100.8
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 16.0
064 A000800 N
064 B000800 N
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
<PAGE> PAGE 47
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 Y
070 K010800 N
070 K020800 N
070 L010800 N
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 N
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 81828
071 B000800 56676
071 C000800 51238
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072 B000800 2574
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072 S000800 2
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072 Z000800 2191
<PAGE> PAGE 48
072AA000800 582
072BB000800 0
072CC010800 209
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072DD010800 2191
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073 A010800 0.4300
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074 A000800 491
074 B000800 0
074 C000800 0
074 D000800 71308
074 E000800 0
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074 L000800 1137
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074 O000800 2083
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074 T000800 70720
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074 V020800 0.00
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074 Y000800 0
075 A000800 0
075 B000800 51081
076 000800 0.00
080 A000800 NATIONAL UNION INSURANCE OF PITTSBURGH PA
080 C000800 400
081 A000800 Y
081 B000800 14
082 A000800 Y
082 B000800 100
083 A000800 N
<PAGE> PAGE 49
083 B000800 0
084 A000800 N
084 B000800 0
085 A000800 Y
085 B000800 N
028 A010900 74062
028 A020900 685
028 A030900 0
028 A040900 70591
028 B010900 84744
028 B020900 733
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028 B040900 66858
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028 F040900 84346
028 G010900 464719
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028 G040900 410834
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034 000900 Y
035 000900 38
036 A000900 N
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045 000900 Y
046 000900 N
047 000900 Y
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048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
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048 D020900 0.000
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<PAGE> PAGE 50
048 E020900 0.000
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048 H020900 0.000
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048 I020900 0.000
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062 B000900 0.0
062 C000900 0.0
062 D000900 21.8
062 E000900 0.0
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062 H000900 0.0
062 I000900 78.0
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063 A000900 21
063 B000900 0.0
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
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070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
<PAGE> PAGE 51
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 N
070 K020900 N
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
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072 B000900 9994
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<PAGE> PAGE 52
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080 A000900 NATIONAL UNION INSURANCE OF PITTSBURGH PA
080 C000900 600
081 A000900 Y
081 B000900 14
082 A000900 Y
<PAGE> PAGE 53
082 B000900 100
083 A000900 N
083 B000900 0
084 A000900 N
084 B000900 0
085 A000900 Y
085 B000900 N
SIGNATURE FRANK L. PEPE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 011
<NAME> THE GUARDIAN PARK AVENUE FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,433,088
<INVESTMENTS-AT-VALUE> 3,398,098
<RECEIVABLES> 31,369
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,429,468
<PAYABLE-FOR-SECURITIES> 28,975
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,235
<TOTAL-LIABILITIES> 49,211
<SENIOR-EQUITY> 652
<PAID-IN-CAPITAL-COMMON> 2,337,706
<SHARES-COMMON-STOCK> 57,643 <F1>
<SHARES-COMMON-PRIOR> 50,145 <F1>
<ACCUMULATED-NII-CURRENT> 363
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 76,526
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 965,010
<NET-ASSETS> 2,990,767 <F1>
<DIVIDEND-INCOME> 34,436
<INTEREST-INCOME> 10,278
<OTHER-INCOME> 0
<EXPENSES-NET> 26,119
<NET-INVESTMENT-INCOME> 18,595
<REALIZED-GAINS-CURRENT> 240,110
<APPREC-INCREASE-CURRENT> 321,166
<NET-CHANGE-FROM-OPS> 579,872
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 18,598 <F1>
<DISTRIBUTIONS-OF-GAINS> 199,306 <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,153 <F1>
<NUMBER-OF-SHARES-REDEEMED> (14,727)<F1>
<SHARES-REINVESTED> 4,073 <F1>
<NET-CHANGE-IN-ASSETS> 865,879
<ACCUMULATED-NII-PRIOR> 368
<ACCUMULATED-GAINS-PRIOR> 61,134
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,957
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26,119
<AVERAGE-NET-ASSETS> 2,683,148 <F1>
<PER-SHARE-NAV-BEGIN> 46.12 <F1>
<PER-SHARE-NII> 0.35 <F1>
<PER-SHARE-GAIN-APPREC> 9.38 <F1>
<PER-SHARE-DIVIDEND> (0.34)<F1>
<PER-SHARE-DISTRIBUTIONS> (3.63)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 51.88 <F1>
<EXPENSE-RATIO> 0.78 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 012
<NAME> THE GUARDIAN PARK AVENUE FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 2,433,088
<INVESTMENTS-AT-VALUE> 3,398,098
<RECEIVABLES> 31,369
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,429,468
<PAYABLE-FOR-SECURITIES> 28,975
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,235
<TOTAL-LIABILITIES> 49,211
<SENIOR-EQUITY> 652
<PAID-IN-CAPITAL-COMMON> 2,337,706
<SHARES-COMMON-STOCK> 7,549 <F1>
<SHARES-COMMON-PRIOR> 4,384 <F1>
<ACCUMULATED-NII-CURRENT> 363
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 76,526
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 965,010
<NET-ASSETS> 389,489 <F1>
<DIVIDEND-INCOME> 34,436
<INTEREST-INCOME> 10,278
<OTHER-INCOME> 0
<EXPENSES-NET> 26,119
<NET-INVESTMENT-INCOME> 18,595
<REALIZED-GAINS-CURRENT> 240,110
<APPREC-INCREASE-CURRENT> 321,166
<NET-CHANGE-FROM-OPS> 579,872
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0 <F1>
<DISTRIBUTIONS-OF-GAINS> (25,415)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,603 <F1>
<NUMBER-OF-SHARES-REDEEMED> (912)<F1>
<SHARES-REINVESTED> 475 <F1>
<NET-CHANGE-IN-ASSETS> 865,879
<ACCUMULATED-NII-PRIOR> 368
<ACCUMULATED-GAINS-PRIOR> 61,134
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,957
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26,119
<AVERAGE-NET-ASSETS> 308,254 <F1>
<PER-SHARE-NAV-BEGIN> 46.02 <F1>
<PER-SHARE-NII> (0.08)<F1>
<PER-SHARE-GAIN-APPREC> 9.28 <F1>
<PER-SHARE-DIVIDEND> 0.00 <F1>
<PER-SHARE-DISTRIBUTIONS> (3.63)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 51.59 <F1>
<EXPENSE-RATIO> 1.70 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 071
<NAME> THE GUARDIAN PARK AVENUE SMALL CAP FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 135,605
<INVESTMENTS-AT-VALUE> 152,499
<RECEIVABLES> 1,711
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 154,211
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,564
<TOTAL-LIABILITIES> 4,564
<SENIOR-EQUITY> 117
<PAID-IN-CAPITAL-COMMON> 148,716
<SHARES-COMMON-STOCK> 9,959 <F1>
<SHARES-COMMON-PRIOR> 7,336 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (16,081)
<ACCUM-APPREC-OR-DEPREC> 16,894
<NET-ASSETS> 127,525 <F1>
<DIVIDEND-INCOME> 996
<INTEREST-INCOME> 449
<OTHER-INCOME> 0
<EXPENSES-NET> 2,049
<NET-INVESTMENT-INCOME> (604)
<REALIZED-GAINS-CURRENT> (16,114)
<APPREC-INCREASE-CURRENT> 6,377
<NET-CHANGE-FROM-OPS> (10,340)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0 <F1>
<DISTRIBUTIONS-OF-GAINS> (978)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,955 <F1>
<NUMBER-OF-SHARES-REDEEMED> (6,399)<F1>
<SHARES-REINVESTED> 67 <F1>
<NET-CHANGE-IN-ASSETS> 30,383
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,051
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,049
<AVERAGE-NET-ASSETS> 117,363 <F1>
<PER-SHARE-NAV-BEGIN> 13.77 <F1>
<PER-SHARE-NII> (0.03)<F1>
<PER-SHARE-GAIN-APPREC> (0.83)<F1>
<PER-SHARE-DIVIDEND> 0.00 <F1>
<PER-SHARE-DISTRIBUTIONS> (0.11)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.80 <F1>
<EXPENSE-RATIO> 1.32 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 072
<NAME> THE GUARDIAN PARK AVENUE SMALL CAP FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 135,605
<INVESTMENTS-AT-VALUE> 152,499
<RECEIVABLES> 1,711
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 154,211
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,564
<TOTAL-LIABILITIES> 4,564
<SENIOR-EQUITY> 117
<PAID-IN-CAPITAL-COMMON> 148,716
<SHARES-COMMON-STOCK> 1,754 <F1>
<SHARES-COMMON-PRIOR> 1,335 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (16,081)
<ACCUM-APPREC-OR-DEPREC> 16,894
<NET-ASSETS> 22,122 <F1>
<DIVIDEND-INCOME> 996
<INTEREST-INCOME> 449
<OTHER-INCOME> 0
<EXPENSES-NET> 2,049
<NET-INVESTMENT-INCOME> (604)
<REALIZED-GAINS-CURRENT> (16,114)
<APPREC-INCREASE-CURRENT> 6,377
<NET-CHANGE-FROM-OPS> (10,340)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0 <F1>
<DISTRIBUTIONS-OF-GAINS> (203)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 948 <F1>
<NUMBER-OF-SHARES-REDEEMED> (543)<F1>
<SHARES-REINVESTED> 15 <F1>
<NET-CHANGE-IN-ASSETS> 30,383
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,051
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,049
<AVERAGE-NET-ASSETS> 22,837 <F1>
<PER-SHARE-NAV-BEGIN> 13.67 <F1>
<PER-SHARE-NII> (0.15)<F1>
<PER-SHARE-GAIN-APPREC> (0.80)<F1>
<PER-SHARE-DIVIDEND> 0.00 <F1>
<PER-SHARE-DISTRIBUTIONS> (0.11)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.61 <F1>
<EXPENSE-RATIO> 2.17 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 021
<NAME> THE GUARDIAN ASSET ALLOCATION FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 201,513
<INVESTMENTS-AT-VALUE> 222,414
<RECEIVABLES> 827
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 223,241
<PAYABLE-FOR-SECURITIES> 145
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 723
<TOTAL-LIABILITIES> 868
<SENIOR-EQUITY> 151
<PAID-IN-CAPITAL-COMMON> 193,546
<SHARES-COMMON-STOCK> 13,183 <F1>
<SHARES-COMMON-PRIOR> 9,744 <F1>
<ACCUMULATED-NII-CURRENT> 48
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,273
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,355
<NET-ASSETS> 194,827 <F1>
<DIVIDEND-INCOME> 2,782
<INTEREST-INCOME> 2,983
<OTHER-INCOME> 0
<EXPENSES-NET> 1,282
<NET-INVESTMENT-INCOME> 4,483
<REALIZED-GAINS-CURRENT> 24,550
<APPREC-INCREASE-CURRENT> 4,998
<NET-CHANGE-FROM-OPS> 34,031
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,972)<F1>
<DISTRIBUTIONS-OF-GAINS> (18,145)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,552 <F1>
<NUMBER-OF-SHARES-REDEEMED> (1,642)<F1>
<SHARES-REINVESTED> 1,529 <F1>
<NET-CHANGE-IN-ASSETS> 71,358
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,401
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,199
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,282
<AVERAGE-NET-ASSETS> 163,978 <F1>
<PER-SHARE-NAV-BEGIN> 14.05 <F1>
<PER-SHARE-NII> 0.39 <F1>
<PER-SHARE-GAIN-APPREC> 2.31 <F1>
<PER-SHARE-DIVIDEND> (0.43)<F1>
<PER-SHARE-DISTRIBUTIONS> (1.54)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.78 <F1>
<EXPENSE-RATIO> 0.60 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 022
<NAME> THE GUARDIAN ASSET ALLOCATION FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 201,513
<INVESTMENTS-AT-VALUE> 222,414
<RECEIVABLES> 827
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 223,241
<PAYABLE-FOR-SECURITIES> 145
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 723
<TOTAL-LIABILITIES> 868
<SENIOR-EQUITY> 151
<PAID-IN-CAPITAL-COMMON> 193,546
<SHARES-COMMON-STOCK> 1,870 <F1>
<SHARES-COMMON-PRIOR> 1,004 <F1>
<ACCUMULATED-NII-CURRENT> 48
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,273
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,355
<NET-ASSETS> 27,545 <F1>
<DIVIDEND-INCOME> 2,782
<INTEREST-INCOME> 2,983
<OTHER-INCOME> 0
<EXPENSES-NET> 1,282
<NET-INVESTMENT-INCOME> 4,483
<REALIZED-GAINS-CURRENT> 24,550
<APPREC-INCREASE-CURRENT> 4,998
<NET-CHANGE-FROM-OPS> 34,031
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (455)<F1>
<DISTRIBUTIONS-OF-GAINS> (2,541)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 828 <F1>
<NUMBER-OF-SHARES-REDEEMED> (159)<F1>
<SHARES-REINVESTED> 197 <F1>
<NET-CHANGE-IN-ASSETS> 71,358
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,401
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,199
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,282
<AVERAGE-NET-ASSETS> 20,462 <F1>
<PER-SHARE-NAV-BEGIN> 14.00 <F1>
<PER-SHARE-NII> 0.24 <F1>
<PER-SHARE-GAIN-APPREC> 2.31 <F1>
<PER-SHARE-DIVIDEND> (0.28)<F1>
<PER-SHARE-DISTRIBUTIONS> (1.54)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.73 <F1>
<EXPENSE-RATIO> 1.48 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 031
<NAME> THE GUARDIAN BAILLIE GIFFORD INT'L FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 79,380
<INVESTMENTS-AT-VALUE> 103,590
<RECEIVABLES> 1,144
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 104,735
<PAYABLE-FOR-SECURITIES> 12
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 635
<TOTAL-LIABILITIES> 647
<SENIOR-EQUITY> 57
<PAID-IN-CAPITAL-COMMON> 79,594
<SHARES-COMMON-STOCK> 5,100 <F1>
<SHARES-COMMON-PRIOR> 4,166 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (607)
<ACCUMULATED-NET-GAINS> 854
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,189
<NET-ASSETS> 93,871 <F1>
<DIVIDEND-INCOME> 1,172
<INTEREST-INCOME> 197
<OTHER-INCOME> 0
<EXPENSES-NET> 1,465
<NET-INVESTMENT-INCOME> (96)
<REALIZED-GAINS-CURRENT> 4,323
<APPREC-INCREASE-CURRENT> 11,034
<NET-CHANGE-FROM-OPS> 15,261
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (28)<F1>
<DISTRIBUTIONS-OF-GAINS> (3,900)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,077 <F1>
<NUMBER-OF-SHARES-REDEEMED> (4,337)<F1>
<SHARES-REINVESTED> 194 <F1>
<NET-CHANGE-IN-ASSETS> 30,820
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 969
<OVERDISTRIB-NII-PRIOR> (597)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 705
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,465
<AVERAGE-NET-ASSETS> 79,980 <F1>
<PER-SHARE-NAV-BEGIN> 16.08 <F1>
<PER-SHARE-NII> 0.02 <F1>
<PER-SHARE-GAIN-APPREC> 3.13 <F1>
<PER-SHARE-DIVIDEND> (0.01)<F1>
<PER-SHARE-DISTRIBUTIONS> (0.81)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.41 <F1>
<EXPENSE-RATIO> 1.56 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 032
<NAME> THE GUARDIAN BAILLIE GIFFORD INT'L FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 79,380
<INVESTMENTS-AT-VALUE> 103,590
<RECEIVABLES> 1,144
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 104,735
<PAYABLE-FOR-SECURITIES> 12
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 635
<TOTAL-LIABILITIES> 647
<SENIOR-EQUITY> 57
<PAID-IN-CAPITAL-COMMON> 79,594
<SHARES-COMMON-STOCK> 569 <F1>
<SHARES-COMMON-PRIOR> 395 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (607)
<ACCUMULATED-NET-GAINS> 854
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,189
<NET-ASSETS> 10,216 <F1>
<DIVIDEND-INCOME> 1,172
<INTEREST-INCOME> 197
<OTHER-INCOME> 0
<EXPENSES-NET> 1,465
<NET-INVESTMENT-INCOME> (96)
<REALIZED-GAINS-CURRENT> 4,323
<APPREC-INCREASE-CURRENT> 11,034
<NET-CHANGE-FROM-OPS> 15,261
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0 <F1>
<DISTRIBUTIONS-OF-GAINS> (424)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 207 <F1>
<NUMBER-OF-SHARES-REDEEMED> (57)<F1>
<SHARES-REINVESTED> 23 <F1>
<NET-CHANGE-IN-ASSETS> 30,820
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 969
<OVERDISTRIB-NII-PRIOR> (597)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 705
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,465
<AVERAGE-NET-ASSETS> 8,165 <F1>
<PER-SHARE-NAV-BEGIN> 15.87 <F1>
<PER-SHARE-NII> (0.09)<F1>
<PER-SHARE-GAIN-APPREC> 3.00 <F1>
<PER-SHARE-DIVIDEND> 0 <F1>
<PER-SHARE-DISTRIBUTIONS> (0.81)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.97 <F1>
<EXPENSE-RATIO> 2.67 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 081
<NAME> THE GUARDIAN BAILLIE GIFFORD EMERGING MARKETS FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 19,923
<INVESTMENTS-AT-VALUE> 17,221
<RECEIVABLES> 691
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,922
<PAYABLE-FOR-SECURITIES> 69
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 143
<TOTAL-LIABILITIES> 213
<SENIOR-EQUITY> 27
<PAID-IN-CAPITAL-COMMON> 26,553
<SHARES-COMMON-STOCK> 2,455 <F1>
<SHARES-COMMON-PRIOR> 2,289 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (39)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (6,144)
<ACCUM-APPREC-OR-DEPREC> (2,688)
<NET-ASSETS> 16,342 <F1>
<DIVIDEND-INCOME> 430
<INTEREST-INCOME> 116
<OTHER-INCOME> 0
<EXPENSES-NET> 551
<NET-INVESTMENT-INCOME> (5)
<REALIZED-GAINS-CURRENT> (5,496)
<APPREC-INCREASE-CURRENT> (1,649)
<NET-CHANGE-FROM-OPS> (7,150)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6)<F1>
<DISTRIBUTIONS-OF-GAINS> (1)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 308 <F1>
<NUMBER-OF-SHARES-REDEEMED> (143)<F1>
<SHARES-REINVESTED> 1 <F1>
<NET-CHANGE-IN-ASSETS> (5,772)
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (797)
<GROSS-ADVISORY-FEES> 200
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 551
<AVERAGE-NET-ASSETS> 18,374 <F1>
<PER-SHARE-NAV-BEGIN> 9.38 <F1>
<PER-SHARE-NII> 0.01 <F1>
<PER-SHARE-GAIN-APPREC> (2.73)<F1>
<PER-SHARE-DIVIDEND> 0 <F1>
<PER-SHARE-DISTRIBUTIONS> 0 <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.66 <F1>
<EXPENSE-RATIO> 2.55 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 082
<NAME> THE GUARDIAN BAILLIE GIFFORD EMERGING MARKETS FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 19,923
<INVESTMENTS-AT-VALUE> 17,221
<RECEIVABLES> 691
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,922
<PAYABLE-FOR-SECURITIES> 69
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 143
<TOTAL-LIABILITIES> 213
<SENIOR-EQUITY> 27
<PAID-IN-CAPITAL-COMMON> 26,553
<SHARES-COMMON-STOCK> 212 <F1>
<SHARES-COMMON-PRIOR> 216 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (39)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (6,144)
<ACCUM-APPREC-OR-DEPREC> (2,688)
<NET-ASSETS> 1,367 <F1>
<DIVIDEND-INCOME> 430
<INTEREST-INCOME> 116
<OTHER-INCOME> 0
<EXPENSES-NET> 551
<NET-INVESTMENT-INCOME> (5)
<REALIZED-GAINS-CURRENT> (5,496)
<APPREC-INCREASE-CURRENT> (1,649)
<NET-CHANGE-FROM-OPS> (7,150)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0 <F1>
<DISTRIBUTIONS-OF-GAINS> 0 <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37 <F1>
<NUMBER-OF-SHARES-REDEEMED> (41)<F1>
<SHARES-REINVESTED> 0 <F1>
<NET-CHANGE-IN-ASSETS> (5,772)
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (797)
<GROSS-ADVISORY-FEES> 200
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 551
<AVERAGE-NET-ASSETS> 1,636 <F1>
<PER-SHARE-NAV-BEGIN> 9.30 <F1>
<PER-SHARE-NII> (0.18)<F1>
<PER-SHARE-GAIN-APPREC> (2.68)<F1>
<PER-SHARE-DIVIDEND> 0 <F1>
<PER-SHARE-DISTRIBUTIONS> 0 <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.44 <F1>
<EXPENSE-RATIO> 5.04 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 04
<NAME> THE GUARDIAN INVESTMENT QUALITY BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 168,449
<INVESTMENTS-AT-VALUE> 169,551
<RECEIVABLES> 1,299
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 170,849
<PAYABLE-FOR-SECURITIES> 27,949
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 702
<TOTAL-LIABILITIES> 28,652
<SENIOR-EQUITY> 142
<PAID-IN-CAPITAL-COMMON> 140,633
<SHARES-COMMON-STOCK> 14,233 <F1>
<SHARES-COMMON-PRIOR> 9,987 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 321
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,102
<NET-ASSETS> 142,199 <F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,523
<OTHER-INCOME> 0
<EXPENSES-NET> 1,053
<NET-INVESTMENT-INCOME> 6,470
<REALIZED-GAINS-CURRENT> 2,736
<APPREC-INCREASE-CURRENT> 301
<NET-CHANGE-FROM-OPS> 9,507
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,470)<F1>
<DISTRIBUTIONS-OF-GAINS> (2,157)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,257 <F1>
<NUMBER-OF-SHARES-REDEEMED> (1,849)<F1>
<SHARES-REINVESTED> 838 <F1>
<NET-CHANGE-IN-ASSETS> 43,264
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (272)
<GROSS-ADVISORY-FEES> 617
<INTEREST-EXPENSE> 127
<GROSS-EXPENSE> 1,307
<AVERAGE-NET-ASSETS> 123,470 <F1>
<PER-SHARE-NAV-BEGIN> 9.91 <F1>
<PER-SHARE-NII> 0.53 <F1>
<PER-SHARE-GAIN-APPREC> 0.23 <F1>
<PER-SHARE-DIVIDEND> (0.53)<F1>
<PER-SHARE-DISTRIBUTIONS> (0.15)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.99 <F1>
<EXPENSE-RATIO> 0.85 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 091
<NAME> THE GUARDIAN HIGH YIELD BOND FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 52,332
<INVESTMENTS-AT-VALUE> 52,611
<RECEIVABLES> 1,258
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53,869
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 98
<TOTAL-LIABILITIES> 98
<SENIOR-EQUITY> 55
<PAID-IN-CAPITAL-COMMON> 53,344
<SHARES-COMMON-STOCK> 5,214 <F1>
<SHARES-COMMON-PRIOR> 0 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 92
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 279
<NET-ASSETS> 51,288 <F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,606
<OTHER-INCOME> 0
<EXPENSES-NET> 144
<NET-INVESTMENT-INCOME> 1,461
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> 279
<NET-CHANGE-FROM-OPS> 1,833
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,412)<F1>
<DISTRIBUTIONS-OF-GAINS> 0 <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,074 <F1>
<NUMBER-OF-SHARES-REDEEMED> (6)<F1>
<SHARES-REINVESTED> 146 <F1>
<NET-CHANGE-IN-ASSETS> 53,771
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 106
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 234
<AVERAGE-NET-ASSETS> 34,841 <F1>
<PER-SHARE-NAV-BEGIN> 9.26 <F1>
<PER-SHARE-NII> 0.38 <F1>
<PER-SHARE-GAIN-APPREC> 0.58 <F1>
<PER-SHARE-DIVIDEND> (0.38)<F1>
<PER-SHARE-DISTRIBUTIONS> 0 <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.84 <F1>
<EXPENSE-RATIO> 0.75 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 092
<NAME> THE GUARDIAN HIGH YIELD BOND FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 52,332
<INVESTMENTS-AT-VALUE> 52,611
<RECEIVABLES> 1,258
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53,869
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 98
<TOTAL-LIABILITIES> 98
<SENIOR-EQUITY> 55
<PAID-IN-CAPITAL-COMMON> 53,344
<SHARES-COMMON-STOCK> 253 <F1>
<SHARES-COMMON-PRIOR> 0 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 92
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 279
<NET-ASSETS> 2,482 <F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,606
<OTHER-INCOME> 0
<EXPENSES-NET> 144
<NET-INVESTMENT-INCOME> 1,461
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> 279
<NET-CHANGE-FROM-OPS> 1,833
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (49)<F1>
<DISTRIBUTIONS-OF-GAINS> 0 <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 261 <F1>
<NUMBER-OF-SHARES-REDEEMED> (14)<F1>
<SHARES-REINVESTED> 5 <F1>
<NET-CHANGE-IN-ASSETS> 53,771
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 106
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 234
<AVERAGE-NET-ASSETS> 1,469 <F1>
<PER-SHARE-NAV-BEGIN> 9.26 <F1>
<PER-SHARE-NII> 0.31 <F1>
<PER-SHARE-GAIN-APPREC> 0.57 <F1>
<PER-SHARE-DIVIDEND> (0.31)<F1>
<PER-SHARE-DISTRIBUTIONS> 0 <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.83 <F1>
<EXPENSE-RATIO> 2.33 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 05
<NAME> THE GUARDIAN TAX EXEMPT FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 69,512
<INVESTMENTS-AT-VALUE> 71,308
<RECEIVABLES> 1,628
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 72,936
<PAYABLE-FOR-SECURITIES> 2,083
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 133
<TOTAL-LIABILITIES> 2,216
<SENIOR-EQUITY> 70
<PAID-IN-CAPITAL-COMMON> 68,812
<SHARES-COMMON-STOCK> 6,978 <F1>
<SHARES-COMMON-PRIOR> 4,742 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,797
<NET-ASSETS> 70,720 <F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,574
<OTHER-INCOME> 0
<EXPENSES-NET> 383
<NET-INVESTMENT-INCOME> 2,191
<REALIZED-GAINS-CURRENT> 582
<APPREC-INCREASE-CURRENT> 209
<NET-CHANGE-FROM-OPS> 2,982
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,191) <F1>
<DISTRIBUTIONS-OF-GAINS> (174) <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,185 <F1>
<NUMBER-OF-SHARES-REDEEMED> (179) <F1>
<SHARES-REINVESTED> 231 <F1>
<NET-CHANGE-IN-ASSETS> 23,360
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (366)
<GROSS-ADVISORY-FEES> 255
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 515
<AVERAGE-NET-ASSETS> 51,081 <F1>
<PER-SHARE-NAV-BEGIN> 9.99 <F1>
<PER-SHARE-NII> 0.43 <F1>
<PER-SHARE-GAIN-APPREC> 0.17 <F1>
<PER-SHARE-DIVIDEND> (0.43) <F1>
<PER-SHARE-DISTRIBUTIONS> (0.03) <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.13 <F1>
<EXPENSE-RATIO> 0.75 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 061
<NAME> THE GUARDIAN CASH MANAGEMENT FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 237,915
<INVESTMENTS-AT-VALUE> 237,915
<RECEIVABLES> 13,948
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 251,863
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,436
<TOTAL-LIABILITIES> 13,436
<SENIOR-EQUITY> 2,384
<PAID-IN-CAPITAL-COMMON> 236,042
<SHARES-COMMON-STOCK> 225,997 <F1>
<SHARES-COMMON-PRIOR> 132,523 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 225,997 <F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,994
<OTHER-INCOME> 0
<EXPENSES-NET> 1,546
<NET-INVESTMENT-INCOME> 8,448
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,448
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,075)<F1>
<DISTRIBUTIONS-OF-GAINS> 0 <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 754,062 <F1>
<NUMBER-OF-SHARES-REDEEMED> (668,353)<F1>
<SHARES-REINVESTED> 7,764 <F1>
<NET-CHANGE-IN-ASSETS> 100,039
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 909
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,946
<AVERAGE-NET-ASSETS> 8,052 <F1>
<PER-SHARE-NAV-BEGIN> 1.00 <F1>
<PER-SHARE-NII> 0.047 <F1>
<PER-SHARE-GAIN-APPREC> 0 <F1>
<PER-SHARE-DIVIDEND> (0.047)<F1>
<PER-SHARE-DISTRIBUTIONS> 0 <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00 <F1>
<EXPENSE-RATIO> 0.85 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE PARK AVENUE PORTFOLIO
This schedule contains financial information extracted from the
"Annual Report to Shareholders" dated December 31, 1998, and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000837910
<NAME> THE PARK AVENUE PORTFOLIO
<SERIES>
<NUMBER> 062
<NAME> THE GUARDIAN CASH MANAGEMENT FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 237,915
<INVESTMENTS-AT-VALUE> 237,915
<RECEIVABLES> 13,948
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 251,863
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,436
<TOTAL-LIABILITIES> 13,436
<SENIOR-EQUITY> 2,384
<PAID-IN-CAPITAL-COMMON> 236,042
<SHARES-COMMON-STOCK> 12,430 <F1>
<SHARES-COMMON-PRIOR> 5,864 <F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 12,430 <F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,994
<OTHER-INCOME> 0
<EXPENSES-NET> 1,546
<NET-INVESTMENT-INCOME> 8,448
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,448
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (373)<F1>
<DISTRIBUTIONS-OF-GAINS> 0 <F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,314 <F1>
<NUMBER-OF-SHARES-REDEEMED> (20,080)<F1>
<SHARES-REINVESTED> 332 <F1>
<NET-CHANGE-IN-ASSETS> 100,039
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 390
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,946
<AVERAGE-NET-ASSETS> 173,084 <F1>
<PER-SHARE-NAV-BEGIN> 1.00 <F1>
<PER-SHARE-NII> 0.047 <F1>
<PER-SHARE-GAIN-APPREC> 0 <F1>
<PER-SHARE-DIVIDEND> (0.047)<F1>
<PER-SHARE-DISTRIBUTIONS> 0 <F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00 <F1>
<EXPENSE-RATIO> 0.85 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B only. All other data are on a fund level.
</FN>
</TABLE>
