<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
012 A000701 DST SYSTEMS, INC.
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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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<PAGE> PAGE 21
012 A000801 DST SYSTEMS INC.
012 B000801 84-0000
012 C010801 KANSAS CITY
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012 C030801 64141
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<PAGE> PAGE 22
043 000800 0
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<PAGE> PAGE 23
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070 F010800 N
070 F020800 N
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070 H010800 N
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070 I020800 N
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070 M010800 N
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<PAGE> PAGE 24
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<PAGE> PAGE 25
012 A000901 DST SYSTEMS INC.
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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
SIGNATURE STEPHEN MEYER
TITLE TREASURER
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<TABLE> <S> <C>
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<CIK> 0000844209
<NAME> THE ACHIEVEMENT FUNDS
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<NAME> SHORT TERM BOND FUND INSTITUTIONAL CLASS
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<NAME> THE ACHIEVEMENT FUNDS
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<NAME> THE ACHIEVEMENT FUNDS
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<NAME> THE ACHIEVEMENT FUNDS
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<NAME> SHORT TERM MUNI BOND FUND RETAIL CLASS A
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<TABLE> <S> <C>
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<CIK> 0000844209
<NAME> THE ACHIEVEMENT FUNDS
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<NUMBER> 090
<NAME> IDAHO MUNICIPAL BOND FUND INSTITUTIONAL CLASS
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</TABLE>
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<CIK> 0000844209
<NAME> THE ACHIEVEMENT FUNDS
<SERIES>
<NUMBER> 091
<NAME> IDAHO MUNI BOND FUND RETAIL CLASS A
<MULTIPLIER> 1,000
<S> <C>
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<DISTRIBUTIONS-OF-GAINS> (32)
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> (10)
<SHARES-REINVESTED> 8
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<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-DISTRIBUTIONS> (.12)
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<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
The Board of Trustees of
The Achievement Funds Trust
In planning and performing our audits of the financial statements of the
Equity, Balanced, Intermediate Term Bond, Short Term Bond, Short Term
Municipal Bond and Idaho Municipal Bond Funds of The Achievement
Funds Trust for the year ended January 31, 1996 (on which we have issued
our report dated March 22, 1996), we considered its internal control structure,
including procedures 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 the internal control structure.
The management of The Achievement Funds Trust is responsible for
establishing and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of internal control structure
policies and procedures. Two of the objectives of an internal control structure
are to provide management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or disposition and
that transactions are executed in accordance with management's authorization
and recorded properly to permit preparation of financial statements in
conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the structure 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 internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accounts. A material weakness is a condition in which the design or
operation of the specific internal control structure elements 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 the internal control structure, including procedures for
safeguarding securities, that we consider to be material weaknesses as
defined above as of January 31, 1996.
This report is intended solely for the information and use of the Board of
Trustees, management and the Securities and Exchange Commission.
/s/Deloitte & Touche LLP
Deloitte & Touche LLP
March 22, 1996
