MANAGED MUNICIPAL FUND INC
NSAR-A, 1999-06-29
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000 A000000 04/30/99
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011 C020001 MD
011 C030001 21202
011 A000002 ISI GROUP, INC.
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SIGNATURE   EDWARD J. VEILLEUX
TITLE       VICE PRESIDENT


WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000859031
<NAME> MANAGED MUNICIPAL BOND FUND: FLAG CLASS A

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                      105,728,888
<INVESTMENTS-AT-VALUE>                     111,239,687
<RECEIVABLES>                                4,625,643
<ASSETS-OTHER>                                  35,058
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             115,900,388
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    34,156,260
<SHARES-COMMON-STOCK>                        3,377,193
<SHARES-COMMON-PRIOR>                        3,381,290
<ACCUMULATED-NII-CURRENT>                    (460,663)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        227,001
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,510,798
<NET-ASSETS>                                36,728,661
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            2,944,580
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 526,736
<NET-INVESTMENT-INCOME>                      2,417,844
<REALIZED-GAINS-CURRENT>                       227,001
<APPREC-INCREASE-CURRENT>                  (1,114,438)
<NET-CHANGE-FROM-OPS>                        1,530,407
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (932,725)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        254,000
<NUMBER-OF-SHARES-REDEEMED>                  (305,065)
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<NET-CHANGE-IN-ASSETS>                       (482,700)
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<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                687,658
<AVERAGE-NET-ASSETS>                       266,530,345
<PER-SHARE-NAV-BEGIN>                            11.01
<PER-SHARE-NII>                                   0.22
<PER-SHARE-GAIN-APPREC>                         (0.08)
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<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.88
<EXPENSE-RATIO>                                   0.90
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000859031
<NAME> MANAGED MUNICIPAL BOND FUND ISI CLASS

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                      105,728,888
<INVESTMENTS-AT-VALUE>                     111,239,687
<RECEIVABLES>                                4,625,643
<ASSETS-OTHER>                                  35,058
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             115,900,388
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      209,163
<TOTAL-LIABILITIES>                            209,163
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    76,257,829
<SHARES-COMMON-STOCK>                        7,259,041
<SHARES-COMMON-PRIOR>                        7,336,051
<ACCUMULATED-NII-CURRENT>                    (460,663)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        227,001
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,510,798
<NET-ASSETS>                                78,962,564
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            2,944,580
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 526,736
<NET-INVESTMENT-INCOME>                      2,417,844
<REALIZED-GAINS-CURRENT>                       227,001
<APPREC-INCREASE-CURRENT>                  (1,114,438)
<NET-CHANGE-FROM-OPS>                        1,530,407
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,977,900)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        140,630
<NUMBER-OF-SHARES-REDEEMED>                  (303,189)
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<NET-CHANGE-IN-ASSETS>                     (1,786,695)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                687,658
<AVERAGE-NET-ASSETS>                       266,530,345
<PER-SHARE-NAV-BEGIN>                            11.01
<PER-SHARE-NII>                                   0.22
<PER-SHARE-GAIN-APPREC>                         (0.08)
<PER-SHARE-DIVIDEND>                            (0.27)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.88
<EXPENSE-RATIO>                                   0.90
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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