MUNICIPAL SECURITIES INCOME TRUST
NSAR-B, 1996-10-30
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<PAGE>      PAGE  1
000 B000000 08/31/96
000 C000000 0000866700
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MUNICIPAL SECURITIES INCOME TRUST
001 B000000 811-6165
001 C000000 4122886653
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 FEDERATED PENNSYLVANIA MUNICIPAL INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 FEDERATED OHIO MUNICIPAL INCOME FUND
007 C030200 N
007 C010300  3
007 C020300 FEDERATED MICHIGAN INTERMEDIATE MUNICIPAL TR
007 C030300 N
007 C010400  4
007 C020400 FEDERATED CALIFORNIA MUNICIPAL INCOME FUND
007 C030400 N
007 C010500  5
007 C020500 FEDERATED NEW YORK MUNICIPAL INCOME FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FEDERATED ADVISERS
008 B00AA01 A
008 C00AA01 801-34612
008 D01AA01 PITTSBURGH
008 D02AA01 PA
008 D03AA01 15222
008 D04AA01 3779
010 A00AA01 FEDERATED SERVICES COMPANY
<PAGE>      PAGE  2
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
013 B04AA01 5401
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 FEDERATED INTERMEDIATE MUNICIPAL TRUST
022 B000001 25-1495199
022 C000001      8250
022 D000001      9550
022 A000002 FEDERATED SHORT-TERM MUNICIPAL TRUST
022 B000002 25-1400935
022 C000002      9350
022 D000002      6200
022 A000003 SMITH BARNEY, INC.
022 B000003 13-1912900
022 C000003      4926
022 D000003      9005
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000004 13-5674085
022 C000004      7348
022 D000004      3092
<PAGE>      PAGE  3
022 A000005 PNC SECURITIES CORP.
022 B000005 25-1471636
022 C000005      3933
022 D000005      5681
022 A000006 WILLIAM R. HOUGH & CO.
022 B000006 59-2246010
022 C000006      2690
022 D000006      4624
022 A000007 FEDERATED MUNICIPAL SECURITIES FUND, INC.
022 B000007 25-1304971
022 C000007      2900
022 D000007      3600
022 A000008 FEDERATED PENNSYLVANIA INT. MUNICIPAL TRUST
022 B000008 25-6428607
022 C000008      3100
022 D000008      3050
022 A000009 MICHIGAN MUNICIPAL INCOME FUND
022 C000009      2500
022 D000009      3350
022 A000010 PRUDENTIAL SECURITIES, INC.
022 B000010 22-2347336
022 C000010      3013
022 D000010      2694
023 C000000      82676
023 D000000      77425
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
025 D00AA03       0
025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
025 D00AA07       0
025 D00AA08       0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 N
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027  000000 Y
045  00AA00 Y
046  00AA00 N
047  00AA00 Y
048  00AA00  0.400
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048 A02AA00 0.000
048 B01AA00        0
<PAGE>      PAGE  4
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
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
066 A00AA00 N
067  00AA00 N
068 A00AA00 N
068 B00AA00 N
069  00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
<PAGE>      PAGE  5
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 Y
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078  000000 N
<PAGE>      PAGE  6
080 A00AA00 THE AETNA CASUALTY AND SURETY COMPANY
080 B00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00    85000
081 A00AA00 Y
081 B00AA00  74
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02266
015 C040101 8600
015 E010101 X
015 A000102 BANKERS TRUST CO.
015 B000102 S
015 C010102 NEW YORK
015 C020102 NY
015 C030102 10015
015 E010102 X
015 A000103 BANK OF NEW YORK
015 B000103 S
015 C010103 NEW YORK
015 C020103 NY
015 C030103 10006
015 E010103 X
015 A000104 THE CHASE MANHATTAN CORPORATION
015 B000104 S
015 C010104 NEW YORK
015 C020104 NY
015 C030104 10006
015 E010104 X
015 A000105 MORGAN GUARANTY BANK & TRUST CO.
015 B000105 S
015 C010105 NEW YORK
015 C020105 NY
015 C030105 10015
015 E010105 X
015 A000106 NATIONSBANC CAPITAL MARKETS, INC.
015 B000106 S
015 C010106 RICHMOND
015 C020106 VA
015 C030106 23261
015 E010106 X
015 A000107 NATIONSBANK OF NORTH CAROLINA
<PAGE>      PAGE  7
015 B000107 S
015 C010107 CHARLOTTE
015 C020107 NC
015 C030107 28255
015 E010107 X
015 A000108 PNC BANK, NA
015 B000108 S
015 C010108 PITTSBURGH
015 C020108 PA
015 C030108 15265
015 E010108 X
028 A010100      1580
028 A020100       268
028 A030100         0
028 A040100      1963
028 B010100       564
028 B020100       259
028 B030100         0
028 B040100      1204
028 C010100       891
028 C020100       259
028 C030100         0
028 C040100      1806
028 D010100      1677
028 D020100       257
028 D030100         0
028 D040100      1072
028 E010100      1217
028 E020100       262
028 E030100         0
028 E040100       490
028 F010100      1319
028 F020100       232
028 F030100         0
028 F040100      3628
028 G010100      7248
028 G020100      1537
028 G030100         0
028 G040100     10163
028 H000100      5932
029  000100 Y
030 A000100    191
030 B000100  4.50
030 C000100  0.00
031 A000100      1
031 B000100      0
032  000100    190
033  000100      0
034  000100 N
035  000100      0
036 B000100      0
<PAGE>      PAGE  8
037  000100 N
038  000100      0
039  000100 N
040  000100 Y
041  000100 N
042 A000100   0
042 B000100   0
042 C000100   0
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100      0
044  000100      0
055 A000100 Y
055 B000100 N
056  000100 N
057  000100 N
058 A000100 N
059  000100 Y
060 A000100 N
060 B000100 N
061  000100     1000
062 A000100 Y
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
062 M000100   0.0
062 N000100   0.0
062 O000100  97.8
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100   0
063 B000100 23.8
064 A000100 Y
064 B000100 N
071 A000100     19064
071 B000100     20266
071 C000100     83641
071 D000100   23
072 A000100 12
<PAGE>      PAGE  9
072 B000100     5530
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100      341
072 G000100      125
072 H000100        0
072 I000100       37
072 J000100       21
072 K000100        0
072 L000100       19
072 M000100        3
072 N000100       14
072 O000100        0
072 P000100        0
072 Q000100       51
072 R000100       14
072 S000100        5
072 T000100      213
072 U000100        0
072 V000100        0
072 W000100       12
072 X000100      855
072 Y000100      212
072 Z000100     4887
072AA000100      613
072BB000100       57
072CC010100      353
072CC020100        0
072DD010100     4847
072DD020100        0
072EE000100        0
073 A010100   0.6500
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100       84
074 B000100        0
074 C000100        0
074 D000100    82296
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100        0
074 K000100        0
074 L000100     1832
074 M000100        0
074 N000100    84212
074 O000100        0
<PAGE>      PAGE  10
074 P000100        0
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100       97
074 S000100        0
074 T000100    84115
074 U010100     7409
074 U020100        0
074 V010100    11.35
074 V020100     0.00
074 W000100   0.0000
074 X000100     1680
074 Y000100        0
075 A000100        0
075 B000100    85143
076  000100     0.00
015 A000201 STATE STREET BANK AND TRUST COMPANY
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02266
015 C040201 8602
015 E010201 X
015 A000202 BANKERS TRUST CO.
015 B000202 S
015 C010202 NEW YORK
015 C020202 NY
015 C030202 10015
015 E010202 X
015 A000203 BANK OF NEW YORK
015 B000203 S
015 C010203 NEW YORK
015 C020203 NY
015 C030203 10006
015 E010203 X
015 A000204 THE CHASE MANHATTAN CORPORATION
015 B000204 S
015 C010204 NEW YORK
015 C020204 NY
015 C030204 10006
015 E010204 X
015 A000205 MORGAN GUARANTY BANK & TRUST CO.
015 B000205 S
015 C010205 NEW YORK
015 C020205 NY
015 C030205 10015
015 E010205 X
015 A000206 NATIONSBANC CAPITAL MARKETS, INC.
015 B000206 S
<PAGE>      PAGE  11
015 C010206 RICHMOND
015 C020206 VA
015 C030206 23261
015 E010206 X
015 A000207 NATIONSBANK OF NORTH CAROLINA
015 B000207 S
015 C010207 CHARLOTTE
015 C020207 NC
015 C030207 28255
015 E010207 X
015 A000208 PNC BANK, NA
015 B000208 S
015 C010208 PITTSBURGH
015 C020208 PA
015 C030208 15265
015 E010208 X
028 A010200       553
028 A020200       194
028 A030200         0
028 A040200       248
028 B010200       178
028 B020200       195
028 B030200         0
028 B040200       483
028 C010200       918
028 C020200       196
028 C030200         0
028 C040200      1149
028 D010200       743
028 D020200       194
028 D030200         0
028 D040200       917
028 E010200       188
028 E020200       191
028 E030200         0
028 E040200      1036
028 F010200       439
028 F020200       198
028 F030200         0
028 F040200       749
028 G010200      3019
028 G020200      1168
028 G030200         0
028 G040200      4582
028 H000200      2575
029  000200 Y
030 A000200     79
030 B000200  1.00
030 C000200  0.00
031 A000200      1
031 B000200      0
<PAGE>      PAGE  12
032  000200     78
033  000200      0
034  000200 Y
035  000200     18
036 A000200 N
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200    114
044  000200      0
055 A000200 N
055 B000200 N
056  000200 N
057  000200 N
058 A000200 N
059  000200 Y
060 A000200 N
060 B000200 N
061  000200     1500
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   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200   9.7
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200 11.8
064 A000200 Y
<PAGE>      PAGE  13
064 B000200 N
071 A000200      8864
071 B000200      7510
071 C000200     70090
071 D000200   11
072 A000200 12
072 B000200     4411
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200      285
072 G000200      125
072 H000200        0
072 I000200       52
072 J000200       18
072 K000200        0
072 L000200       21
072 M000200        4
072 N000200       16
072 O000200        0
072 P000200        0
072 Q000200       49
072 R000200       14
072 S000200        3
072 T000200      464
072 U000200        0
072 V000200        0
072 W000200        2
072 X000200     1057
072 Y000200      412
072 Z000200     3766
072AA000200      415
072BB000200        0
072CC010200        0
072CC020200      528
072DD010200     3771
072DD020200        0
072EE000200        0
073 A010200   0.6000
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
074 A000200       51
074 B000200        0
074 C000200        0
074 D000200    70381
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
<PAGE>      PAGE  14
074 J000200        0
074 K000200        0
074 L000200     1291
074 M000200        0
074 N000200    71723
074 O000200      991
074 P000200        0
074 Q000200        0
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074 R020200        0
074 R030200        0
074 R040200      164
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074 T000200    70568
074 U010200     6295
074 U020200        0
074 V010200    11.22
074 V020200     0.00
074 W000200   0.0000
074 X000200     1347
074 Y000200        0
075 A000200        0
075 B000200    71338
076  000200     0.00
015 A000301 STATE STREET BANK AND TRUST COMPANY
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02266
015 C040301 8600
015 E010301 X
015 A000302 BANKERS TRUST CO.
015 B000302 S
015 C010302 NEW YORK
015 C020302 NY
015 C030302 10015
015 E010302 X
015 A000303 BANK OF NEW YORK
015 B000303 S
015 C010303 NEW YORK
015 C020303 NY
015 C030303 10006
015 E010303 X
015 A000304 THE CHASE MANHATTAN CORPORATION
015 B000304 S
015 C010304 NEW YORK
015 C020304 NY
015 C030304 10006
015 E010304 X
015 A000305 MORGAN GUARANTY BANK & TRUST CO.
015 B000305 S
<PAGE>      PAGE  15
015 C010305 NEW YORK
015 C020305 NY
015 C030305 10015
015 E010305 X
015 A000306 NATIONSBANC CAPITAL MARKETS, INC.
015 B000306 S
015 C010306 RICHMOND
015 C020306 VA
015 C030306 23261
015 E010306 X
015 A000307 NATIONSBANK OF NORTH CAROLINA
015 B000307 S
015 C010307 CHARLOTTE
015 C020307 NC
015 C030307 28255
015 E010307 X
015 A000308 PNC BANK, NA
015 B000308 S
015 C010308 PITTSBURGH
015 C020308 PA
015 C030308 15265
015 E010308 X
028 A010300      1914
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028 A030300         0
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028 B010300      1521
028 B020300        43
028 B030300         0
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028 C010300       990
028 C020300        44
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028 E010300      1215
028 E020300        47
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028 F020300        93
028 F030300         0
028 F040300       286
028 G010300      6851
028 G020300       358
028 G030300         0
028 G040300      6356
028 H000300      5955
<PAGE>      PAGE  16
029  000300 Y
030 A000300     14
030 B000300  3.00
030 C000300  0.00
031 A000300      0
031 B000300      0
032  000300     14
033  000300      0
034  000300 N
035  000300      0
036 B000300      0
037  000300 N
038  000300      0
039  000300 N
040  000300 N
042 A000300   0
042 B000300   0
042 C000300   0
042 D000300   0
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300      0
044  000300      0
055 A000300 N
055 B000300 N
056  000300 N
057  000300 N
058 A000300 N
059  000300 Y
060 A000300 N
060 B000300 N
061  000300     1000
062 A000300 Y
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   1.2
062 F000300   0.0
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  98.7
062 P000300   0.0
062 Q000300   0.0
<PAGE>      PAGE  17
062 R000300   0.0
063 A000300   0
063 B000300  8.2
064 A000300 Y
064 B000300 N
071 A000300      6755
071 B000300      4234
071 C000300     60861
071 D000300    7
072 A000300 12
072 B000300     3414
072 C000300        0
072 D000300        0
072 E000300        0
072 F000300      249
072 G000300      125
072 H000300        0
072 I000300       33
072 J000300       20
072 K000300        0
072 L000300       12
072 M000300        3
072 N000300       19
072 O000300        0
072 P000300        0
072 Q000300       57
072 R000300       14
072 S000300        4
072 T000300      155
072 U000300        0
072 V000300        0
072 W000300       15
072 X000300      706
072 Y000300      392
072 Z000300     3100
072AA000300       20
072BB000300       36
072CC010300        0
072CC020300      646
072DD010300     3100
072DD020300        0
072EE000300        0
073 A010300   0.3600
073 A020300   0.0000
073 B000300   0.0000
073 C000300   0.0000
074 A000300       16
074 B000300        0
074 C000300      750
074 D000300    61213
074 E000300        0
<PAGE>      PAGE  18
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300        0
074 J000300        0
074 K000300        0
074 L000300        0
074 M000300     1101
074 N000300    63080
074 O000300        0
074 P000300        0
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300      295
074 S000300        0
074 T000300    62785
074 U010300     5870
074 U020300        0
074 V010300    10.70
074 V020300     0.00
074 W000300   0.0000
074 X000300      242
074 Y000300        0
075 A000300        0
075 B000300    62185
076  000300     0.00
015 A000401 STATE STREET BANK AND TRUST COMPANY
015 B000401 C
015 C010401 BOSTON
015 C020401 MA
015 C030401 02266
015 C040401 8600
015 E010401 X
015 A000402 BANKERS TRUST CO.
015 B000402 S
015 C010402 NEW YORK
015 C020402 NY
015 C030402 10015
015 E010402 X
015 A000403 BANK OF NEW YORK
015 B000403 S
015 C010403 NEW YORK
015 C020403 NY
015 C030403 10006
015 E010403 X
015 A000404 THE CHASE MANHATTAN CORPORATION
015 B000404 S
015 C010404 NEW YORK
015 C020404 NY
<PAGE>      PAGE  19
015 C030404 10006
015 E010404 X
015 A000405 MORGAN GUARANTY BANK & TRUST CO.
015 B000405 S
015 C010405 NEW YORK
015 C020405 NY
015 C030405 10015
015 E010405 X
015 A000406 NATIONSBANC CAPITAL MARKETS, INC.
015 B000406 S
015 C010406 RICHMOND
015 C020406 VA
015 C030406 23261
015 E010406 X
015 A000407 NATIONSBANK OF NORTH CAROLINA
015 B000407 S
015 C010407 CHARLOTTE
015 C020407 NC
015 C030407 28255
015 E010407 X
015 A000408 PNC BANK, NA
015 B000408 S
015 C010408 PITTSBURGH
015 C020408 PA
015 C030408 15265
015 E010408 X
028 A010400       261
028 A020400        68
028 A030400         0
028 A040400       107
028 B010400       744
028 B020400        35
028 B030400         0
028 B040400        99
028 C010400       317
028 C020400        35
028 C030400         0
028 C040400       237
028 D010400       111
028 D020400        34
028 D030400         0
028 D040400       256
028 E010400       683
028 E020400        34
028 E030400         0
028 E040400        83
028 F010400       425
028 F020400        36
028 F030400         0
028 F040400       174
028 G010400      2541
<PAGE>      PAGE  20
028 G020400       242
028 G030400         0
028 G040400       956
028 H000400      1705
029  000400 Y
030 A000400     60
030 B000400  1.00
030 C000400  0.00
031 A000400      1
031 B000400      0
032  000400     59
033  000400      0
034  000400 Y
035  000400      9
036 A000400 N
036 B000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 Y
042 A000400   0
042 B000400   0
042 C000400 100
042 D000400   0
042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
043  000400      3
044  000400      0
055 A000400 Y
055 B000400 N
056  000400 N
057  000400 N
058 A000400 N
059  000400 Y
060 A000400 N
060 B000400 N
061  000400     1500
062 A000400 Y
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400   8.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
<PAGE>      PAGE  21
062 L000400   0.0
062 M000400   0.0
062 N000400   0.0
062 O000400  90.6
062 P000400   0.0
062 Q000400   0.0
062 R000400   0.0
063 A000400   0
063 B000400  0.0
064 A000400 Y
064 B000400 N
071 A000400      5164
071 B000400      3126
071 C000400     14989
071 D000400   21
072 A000400 12
072 B000400      974
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400       63
072 G000400      125
072 H000400        0
072 I000400       27
072 J000400       19
072 K000400        0
072 L000400       13
072 M000400        1
072 N000400       15
072 O000400        0
072 P000400        0
072 Q000400       50
072 R000400       14
072 S000400        4
072 T000400      118
072 U000400        0
072 V000400        0
072 W000400       22
072 X000400      471
072 Y000400      376
072 Z000400      879
072AA000400       52
072BB000400       52
072CC010400      210
072CC020400        0
072DD010400      879
072DD020400        0
072EE000400        0
073 A010400   0.5800
073 A020400   0.0000
073 B000400   0.0000
<PAGE>      PAGE  22
073 C000400   0.0000
074 A000400       41
074 B000400        0
074 C000400     1379
074 D000400    15528
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400        0
074 K000400        0
074 L000400      275
074 M000400        1
074 N000400    17224
074 O000400        0
074 P000400        0
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400       76
074 S000400        0
074 T000400    17148
074 U010400     1670
074 U020400        0
074 V010400    10.27
074 V020400     0.00
074 W000400   0.0000
074 X000400      248
074 Y000400        0
075 A000400        0
075 B000400    15726
076  000400     0.00
015 A000501 STATE STREET BANK AND TRUST CO.
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02266
015 C040501 8600
015 E010501 X
015 A000502 BANK OF NEW YORK
015 B000502 S
015 C010502 NEW YORK
015 C020502 NY
015 C030502 10006
015 E010502 X
015 A000503 BANKERS TRUST CO.
015 B000503 S
015 C010503 NEW YORK
015 C020503 NY
<PAGE>      PAGE  23
015 C030503 10015
015 E010503 X
015 A000504 THE CHASE MANHATTAN CORPORATION
015 B000504 S
015 C010504 NEW YORK
015 C020504 NY
015 C030504 10006
015 E010504 X
015 A000505 MORGAN GUARANTY BANK & TRUST CO.
015 B000505 S
015 C010505 NEW YORK
015 C020505 NY
015 C030505 10015
015 E010505 X
015 A000506 NATIONSBANC CAPITAL MARKETS, INC.
015 B000506 S
015 C010506 RICHMOND
015 C020506 VA
015 C030506 23261
015 E010506 X
015 A000507 NATIONSBANK OF NORTH CAROLINA
015 B000507 S
015 C010507 CHARLOTTE
015 C020507 NC
015 C030507 28255
015 E010507 X
015 A000508 PNC BANK, NA
015 B000508 S
015 C010508 PITTSBURGH
015 C020508 PA
015 C030508 15265
015 E010508 X
028 A010500       149
028 A020500        52
028 A030500         0
028 A040500       117
028 B010500       121
028 B020500        51
028 B030500         0
028 B040500       191
028 C010500       871
028 C020500        51
028 C030500         0
028 C040500       281
028 D010500       145
028 D020500        54
028 D030500         0
028 D040500       134
028 E010500       307
028 E020500        52
028 E030500         0
<PAGE>      PAGE  24
028 E040500       480
028 F010500       454
028 F020500        99
028 F030500         0
028 F040500       228
028 G010500      2047
028 G020500       359
028 G030500         0
028 G040500      1431
028 H000500      1226
029  000500 Y
030 A000500     30
030 B000500  1.00
030 C000500  1.00
031 A000500      0
031 B000500      0
032  000500     30
033  000500      0
034  000500 Y
035  000500     10
036 A000500 N
036 B000500      0
037  000500 N
038  000500      0
039  000500 N
040  000500 Y
041  000500 Y
042 A000500   0
042 B000500   0
042 C000500 100
042 D000500   0
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500      4
044  000500      0
055 A000500 N
055 B000500 N
056  000500 N
057  000500 N
058 A000500 N
059  000500 Y
060 A000500 N
060 B000500 N
061  000500     1500
062 A000500 Y
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500   3.2
<PAGE>      PAGE  25
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500  94.7
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
063 A000500   0
063 B000500 11.8
064 A000500 Y
064 B000500 N
071 A000500      1779
071 B000500      3175
071 C000500     21187
071 D000500    8
072 A000500 12
072 B000500     1351
072 C000500        0
072 D000500        0
072 E000500        0
072 F000500       87
072 G000500      125
072 H000500        0
072 I000500       26
072 J000500       17
072 K000500        0
072 L000500       26
072 M000500        3
072 N000500       17
072 O000500        0
072 P000500        0
072 Q000500       49
072 R000500       13
072 S000500        4
072 T000500      163
072 U000500        0
072 V000500        0
072 W000500       20
072 X000500      550
072 Y000500      418
072 Z000500     1221
072AA000500      124
072BB000500       67
072CC010500       70
072CC020500        0
<PAGE>      PAGE  26
072DD010500     1221
072DD020500        0
072EE000500        0
073 A010500   0.5800
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500      107
074 B000500        0
074 C000500      700
074 D000500    20775
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500        0
074 K000500        0
074 L000500      419
074 M000500        2
074 N000500    22003
074 O000500        0
074 P000500        0
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       71
074 S000500        0
074 T000500    21932
074 U010500     2156
074 U020500        0
074 V010500    10.13
074 V020500     0.00
074 W000500   0.0000
074 X000500      270
074 Y000500        0
075 A000500        0
075 B000500    21698
076  000500     0.00
SIGNATURE   S. ELLIOTT COHAN                             
TITLE       ASST. GEN. COUNSEL  
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   01                                             
     <NAME>                     Municipal Securities Income Trust              
                                Federated Pennsylvania Municipal Income Fund   
                                Class A Shares                                 
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Aug-31-1996                                    
<PERIOD-END>                    Aug-31-1996                                    
<INVESTMENTS-AT-COST>           77,683,811                                     
<INVESTMENTS-AT-VALUE>          82,295,572                                     
<RECEIVABLES>                   1,832,084                                      
<ASSETS-OTHER>                  84,381                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  84,212,037                                     
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       96,507                                         
<TOTAL-LIABILITIES>             96,507                                         
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        81,237,429                                     
<SHARES-COMMON-STOCK>           7,408,593                                      
<SHARES-COMMON-PRIOR>           7,458,342                                      
<ACCUMULATED-NII-CURRENT>       196,829                                        
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (1,930,489)                                    
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        4,611,761                                      
<NET-ASSETS>                    84,115,530                                     
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               5,530,462                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  643,458                                        
<NET-INVESTMENT-INCOME>         4,887,004                                      
<REALIZED-GAINS-CURRENT>        556,055                                        
<APPREC-INCREASE-CURRENT>       353,374                                        
<NET-CHANGE-FROM-OPS>           5,796,433                                      
<EQUALIZATION>                  (6,300)                                        
<DISTRIBUTIONS-OF-INCOME>       4,846,944                                      
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         965,079                                        
<NUMBER-OF-SHARES-REDEEMED>     1,284,868                                      
<SHARES-REINVESTED>             270,041                                        
<NET-CHANGE-IN-ASSETS>          393,461                                        
<ACCUMULATED-NII-PRIOR>         163,069                                        
<ACCUMULATED-GAINS-PRIOR>       (2,486,544)                                    
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           341,175                                        
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 855,950                                        
<AVERAGE-NET-ASSETS>            85,142,844                                     
<PER-SHARE-NAV-BEGIN>           11.230                                         
<PER-SHARE-NII>                 0.650                                          
<PER-SHARE-GAIN-APPREC>         0.120                                          
<PER-SHARE-DIVIDEND>            0.650                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             11.350                                         
<EXPENSE-RATIO>                 0.75                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   02                                             
     <NAME>                     Municipal Securities Income Trust              
                                Federated Ohio Municipal Income Fund           
                                                                               
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Aug-31-1996                                    
<PERIOD-END>                    Aug-31-1996                                    
<INVESTMENTS-AT-COST>           67,769,855                                     
<INVESTMENTS-AT-VALUE>          70,380,934                                     
<RECEIVABLES>                   1,290,834                                      
<ASSETS-OTHER>                  51,488                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  71,723,256                                     
<PAYABLE-FOR-SECURITIES>        990,737                                        
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       164,804                                        
<TOTAL-LIABILITIES>             1,155,541                                      
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        68,463,362                                     
<SHARES-COMMON-STOCK>           6,295,420                                      
<SHARES-COMMON-PRIOR>           6,284,930                                      
<ACCUMULATED-NII-CURRENT>       55,769                                         
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (562,495)                                      
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        2,611,079                                      
<NET-ASSETS>                    70,567,715                                     
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               4,411,115                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  645,239                                        
<NET-INVESTMENT-INCOME>         3,765,876                                      
<REALIZED-GAINS-CURRENT>        415,434                                        
<APPREC-INCREASE-CURRENT>       (528,504)                                      
<NET-CHANGE-FROM-OPS>           3,652,806                                      
<EQUALIZATION>                  (4,115)                                        
<DISTRIBUTIONS-OF-INCOME>       3,771,215                                      
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         641,518                                        
<NUMBER-OF-SHARES-REDEEMED>     835,151                                        
<SHARES-REINVESTED>             204,123                                        
<NET-CHANGE-IN-ASSETS>          36,192                                         
<ACCUMULATED-NII-PRIOR>         65,223                                         
<ACCUMULATED-GAINS-PRIOR>       (977,929)                                      
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           285,381                                        
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 1,057,261                                      
<AVERAGE-NET-ASSETS>            71,338,201                                     
<PER-SHARE-NAV-BEGIN>           11.220                                         
<PER-SHARE-NII>                 0.600                                          
<PER-SHARE-GAIN-APPREC>         (0.010)                                        
<PER-SHARE-DIVIDEND>            0.600                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             11.210                                         
<EXPENSE-RATIO>                 0.90                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   03                                             
     <NAME>                     Municipal Securities Income Fund               
                                Michigan Intermediate Municipal Trust          
                                                                               
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Aug-31-1996                                    
<PERIOD-END>                    Aug-31-1996                                    
<INVESTMENTS-AT-COST>           59,548,323                                     
<INVESTMENTS-AT-VALUE>          61,962,925                                     
<RECEIVABLES>                   1,100,990                                      
<ASSETS-OTHER>                  15,961                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  63,079,876                                     
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       294,773                                        
<TOTAL-LIABILITIES>             294,773                                        
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        61,646,888                                     
<SHARES-COMMON-STOCK>           5,869,678                                      
<SHARES-COMMON-PRIOR>           5,611,518                                      
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (1,276,387)                                    
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        2,414,602                                      
<NET-ASSETS>                    62,785,103                                     
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               3,413,621                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  313,397                                        
<NET-INVESTMENT-INCOME>         3,100,224                                      
<REALIZED-GAINS-CURRENT>        (15,933)                                       
<APPREC-INCREASE-CURRENT>       (645,967)                                      
<NET-CHANGE-FROM-OPS>           2,438,324                                      
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       3,100,224                                      
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         1,168,371                                      
<NUMBER-OF-SHARES-REDEEMED>     959,378                                        
<SHARES-REINVESTED>             49,167                                         
<NET-CHANGE-IN-ASSETS>          2,164,296                                      
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       (1,260,454)                                    
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           248,517                                        
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 706,044                                        
<AVERAGE-NET-ASSETS>            62,185,462                                     
<PER-SHARE-NAV-BEGIN>           10.800                                         
<PER-SHARE-NII>                 0.360                                          
<PER-SHARE-GAIN-APPREC>         (0.100)                                        
<PER-SHARE-DIVIDEND>            0.360                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             10.700                                         
<EXPENSE-RATIO>                 0.50                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   04                                             
     <NAME>                     Municipal Securities Income Trust              
                                Federated California Municipal Income Fund     
                                                                               
<PERIOD-TYPE>                   12-Mos                                         
<FISCAL-YEAR-END>               Aug-31-1996                                    
<PERIOD-END>                    Aug-31-1996                                    
<INVESTMENTS-AT-COST>           16,422,563                                     
<INVESTMENTS-AT-VALUE>          16,907,586                                     
<RECEIVABLES>                   275,539                                        
<ASSETS-OTHER>                  41,238                                         
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  17,224,363                                     
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       76,724                                         
<TOTAL-LIABILITIES>             76,724                                         
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        17,659,512                                     
<SHARES-COMMON-STOCK>           1,669,535                                      
<SHARES-COMMON-PRIOR>           1,421,430                                      
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (996,896)                                      
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        485,023                                        
<NET-ASSETS>                    17,147,639                                     
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               973,607                                        
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  94,709                                         
<NET-INVESTMENT-INCOME>         878,898                                        
<REALIZED-GAINS-CURRENT>        (91)                                           
<APPREC-INCREASE-CURRENT>       210,389                                        
<NET-CHANGE-FROM-OPS>           1,089,196                                      
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       878,898                                        
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         440,835                                        
<NUMBER-OF-SHARES-REDEEMED>     227,108                                        
<SHARES-REINVESTED>             34,378                                         
<NET-CHANGE-IN-ASSETS>          2,747,550                                      
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       (996,805)                                      
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           62,691                                         
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 470,644                                        
<AVERAGE-NET-ASSETS>            15,725,656                                     
<PER-SHARE-NAV-BEGIN>           10.130                                         
<PER-SHARE-NII>                 0.580                                          
<PER-SHARE-GAIN-APPREC>         0.140                                          
<PER-SHARE-DIVIDEND>            0.580                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             10.270                                         
<EXPENSE-RATIO>                 0.60                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   05                                             
     <NAME>                     Municipal Securities Income Trust              
                                Federated New York Municipal Income Fund       
                                                                               
<PERIOD-TYPE>                   12-MOS                                         
<FISCAL-YEAR-END>               Aug-31-1996                                    
<PERIOD-END>                    Aug-31-1996                                    
<INVESTMENTS-AT-COST>           20,722,985                                     
<INVESTMENTS-AT-VALUE>          21,474,533                                     
<RECEIVABLES>                   419,470                                        
<ASSETS-OTHER>                  108,819                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  22,002,822                                     
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       71,157                                         
<TOTAL-LIABILITIES>             71,157                                         
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        22,880,605                                     
<SHARES-COMMON-STOCK>           2,155,908                                      
<SHARES-COMMON-PRIOR>           2,133,081                                      
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (1,700,488)                                    
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        751,548                                        
<NET-ASSETS>                    21,931,665                                     
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               1,351,917                                      
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  131,368                                        
<NET-INVESTMENT-INCOME>         1,220,549                                      
<REALIZED-GAINS-CURRENT>        56,947                                         
<APPREC-INCREASE-CURRENT>       69,892                                         
<NET-CHANGE-FROM-OPS>           1,347,388                                      
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       1,220,549                                      
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         319,948                                        
<NUMBER-OF-SHARES-REDEEMED>     348,051                                        
<SHARES-REINVESTED>             50,930                                         
<NET-CHANGE-IN-ASSETS>          331,395                                        
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       (1,757,435)                                    
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           86,941                                         
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 549,658                                        
<AVERAGE-NET-ASSETS>            21,697,562                                     
<PER-SHARE-NAV-BEGIN>           10.130                                         
<PER-SHARE-NII>                 0.580                                          
<PER-SHARE-GAIN-APPREC>         0.040                                          
<PER-SHARE-DIVIDEND>            0.580                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             10.170                                         
<EXPENSE-RATIO>                 0.60                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>


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