<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 851085
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 CANADA LIFE OF AMERICA SERIES FUND,INC..
001 B000000 811-5816
001 C000000 4165971456
002 A000000 330 UNIVERSITY AVENUE
002 B000000 TORONTO
002 E010000 CANADA
002 E020000 M5G 1R8
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 MONEY MARKET SERIES
007 C030100 N
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007 C020200 MANAGED SERIES
007 C030200 N
007 C010300 3
007 C020300 BOND SERIES
007 C030300 N
007 C010400 4
007 C020400 VALUE EQUITY SERIES
007 C030400 N
007 C010500 5
007 C020500 CAPITAL SERIES
007 C030500 N
007 C010600 6
007 C020600 INTERNATIONAL EQUITY SERIES
007 C030600 N
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 1. MERRILL LYNCH U.S.
020 C000001 5
020 A000002 2. JEFFERIES & COMPANY.
020 C000002 4
020 A000003 3. VALUE INVESTING PARTNERS.
020 C000003 4
020 A000004 4. DAEWOO SEC. AMERICA.
<PAGE> PAGE 2
020 C000004 4
020 A000005 5. JOHNSON RICE & CO.
020 C000005 4
020 A000006 6. MORGAN STANLEY & CO.,INC.
020 C000006 4
020 A000007 7. STANDARD & POORS (COMPUSTAT)
020 C000007 3
020 A000008 8. COWEN & CO.
020 C000008 3
020 A000009 9. SBC WARBURG.
020 C000009 3
020 A000010 10.SMITH BARNEY
020 C000010 3
021 000000 68
022 A000001 1. B.A. SECURITIES INC.
022 C000001 380547
022 D000001 3944
022 A000002 2. J.C.BRADFORD & COMPANY
022 C000002 7367
022 D000002 4338
022 A000003 3. CANADA LIFE ASSURANCE COMPANY
022 C000003 6061
022 D000003 4732
022 A000004 4. DEUTSCHE MORGAN GRENFELL.
022 C000004 2199
022 D000004 2558
022 A000005 5. MERRILL LYNCH U.S.
022 C000005 2111
022 D000005 1587
022 A000006 6. MORGAN STANLEY & CO.,INC.
022 C000006 2400
022 D000006 734
022 A000007 7. JEFFERIES & COMPANY
022 C000007 712
022 D000007 1640
022 A000008 8. JOHSON RICE & CO.
022 C000008 301
022 D000008 1980
022 A000009 9. COWEN & CO.
022 C000009 550
022 D000009 1444
022 A000010 10.SMITH BARNEY.
022 C000010 1120
022 D000010 870
023 C000000 418762
023 D000000 38401
027 000000 Y
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INS.CO.OF PITTSBURGH, PA
<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 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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SIGNATURE D.V.ROUGH
TITLE TREASURER
ERNST & YOUNG LLP
?Suite 2800
600 Peachtree Street
Atlanta, Georgia 30308-2215
?Phone: 404-874-8300
Shareholders and Board of Directors
Canada Life of America Series Fund, Inc.
In planning and performing our audit of the financial statements of Canada
Life of America Series Fund, Inc. for the year ended December 31, 1997, we
considered its internal control, 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 internal
control.
The management of Canada Life of America Series Fund, 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 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 internal control, errors or
irregularities may occur and may 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 component 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
controls over 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
and the Securities and Exchange Commission.
/S/
Atlanta, Georgia
January 30, 1998
