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<PAGE> PAGE 11
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074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 2
074 S000400 0
074 T000400 2821
074 U010400 2821
074 U020400 0
074 V010400 1.00
<PAGE> PAGE 21
074 V020400 0.00
074 W000400 0.9999
074 X000400 4
074 Y000400 0
075 A000400 2661
075 B000400 0
076 000400 0.00
SIGNATURE BRENDA KOELEMAY
TITLE VP/TREASURER
[DESCRIPTION] REPORT OF INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANTS ON INTERNAL CONTROL STRUCTURE
The Board of Directors
American National Investments Accounts, Inc.
Galveston, Texas
In planning and performing our audits of the financial statements of ANIA
Growth Porfolio, ANIA Managed Prtfolio, ANIA Balanced Prtfolio and ANIA Money
Market Portfolio for the year ended December 31, 1997, we considered their
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 Funds 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 the 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 Accountants. 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 December 31, 1997.
This report is intended solely for the use of management and the Securities
and Exchange Commission.
TAIT, WELLER & BAKER
Philadelphia, Pennsylvania
January 30, 1998
[DESCRIPTION] SUB-ITEM 77K: Changes in registrant's certifying accountant
Effective December 4, 1997, the Registrant's Board of Directors selected the
accounting firm of Tait, Weller & Baker to serve as the Registrant's
independent certified public accountants for the fiscal year ended December 31,
1997 to fill a vacancy in such position in accordance with Section 32(a)(2) of
the Investment Company Act of 1940 resulting from KPMG Peat Marwick LLP's resig-
nation on November 19, 1997. KPMG Peat Marwick LLP has served as the
Registrant's independent certified public accountants for each of the
Registrant's prior two years ended December 31, 1996. KPMG Peat Marwick LLP's
reports on the financial statements of the Registrant for each of the two years
in the period ended December 31, 1996 did not contain an adverse opinion or
disclaimer of opinion or were not qualified or modified as to uncertainty, audit
scope or accounting principles. There were no disagreements with KPMG Peat
Marwick LLP on any matter of accounting principles or practices. Financial
statement disclosure, or auditing scope of procedure during each of the two
years in the period ended December 31, 1996 or the interim period from January
1, 1997 through the date of their resignation.
February 27, 1998
Securities and Exchange Commission
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for American National Investment
Accounts, Inc. and, under the date of February 7, 1997, we reported on the
financial statements of American National Funds Group as of and for the two
years ended December 31,1996. On November 19, 1997, we resigned. We have
read American National Funds Group's statements as included under Sub-Item
77K of Form N-SAR dated February 27, 1998, and we agree with such statements.
Very truly yours,
KPMG PEAT MARWICK LLP
[ARTICLE] 6
[CIK] 0000867050
[NAME] AMERICAN NATIONAL INVESTMENT ACCOUNTS, INC.
[SERIES]
[NUMBER] 01
[NAME] GROWTH PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] DEC-31-1997
[INVESTMENTS-AT-COST] 8953158
[INVESTMENTS-AT-VALUE] 11087906
[RECEIVABLES] 14876
[ASSETS-OTHER] 34310
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 11137092
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 10176
[TOTAL-LIABILITIES] 10176
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1873876
[SHARES-COMMON-STOCK] 6961372
[SHARES-COMMON-PRIOR] 5009037
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 156920
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2134748
[NET-ASSETS] 11126916
[DIVIDEND-INCOME] 129723
[INTEREST-INCOME] 108232
[OTHER-INCOME] 0
[EXPENSES-NET] 80584
[NET-INVESTMENT-INCOME] 157371
[REALIZED-GAINS-CURRENT] 875594
[APPREC-INCREASE-CURRENT] 641115
[NET-CHANGE-FROM-OPS] 1674080
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 158902
[DISTRIBUTIONS-OF-GAINS] 775516
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1626208
[NUMBER-OF-SHARES-REDEEMED] 269044
[SHARES-REINVESTED] 595171
[NET-CHANGE-IN-ASSETS] 3848647
[ACCUMULATED-NII-PRIOR] 2517
[ACCUMULATED-GAINS-PRIOR] 75624
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 46499
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 100628
[AVERAGE-NET-ASSETS] 9300718
[PER-SHARE-NAV-BEGIN] 1.45
[PER-SHARE-NII] 0.03
[PER-SHARE-GAIN-APPREC] 0.27
[PER-SHARE-DIVIDEND] 0.03
[PER-SHARE-DISTRIBUTIONS] 0.12
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 1.60
[EXPENSE-RATIO] 0.87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<F1>Expenses for the calculation are net of a reimbusement from Securities
Management & Research, Inc. Without this reimbursement, the ratio of expenses
to average net assets would have been 1.09%.
</TABLE>
[ARTICLE] 6
[CIK] 0000867050
[NAME] AMERICAN NATIONAL INVESTMENT ACCOUNTS, INC.
[SERIES]
[NUMBER] 02
[NAME] MANAGED PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] DEC-31-1997
[INVESTMENTS-AT-COST] 7759599
[INVESTMENTS-AT-VALUE] 9742662
[RECEIVABLES] 19666
[ASSETS-OTHER] 30804
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 9793132
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 10146
[TOTAL-LIABILITIES] 10146
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1388982
[SHARES-COMMON-STOCK] 6265385
[SHARES-COMMON-PRIOR] 4583281
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 145556
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1983063
[NET-ASSETS] 9782986
[DIVIDEND-INCOME] 164317
[INTEREST-INCOME] 67469
[OTHER-INCOME] 0
[EXPENSES-NET] 75522
[NET-INVESTMENT-INCOME] 156264
[REALIZED-GAINS-CURRENT] 630123
[APPREC-INCREASE-CURRENT] 819659
[NET-CHANGE-FROM-OPS] 1606046
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 158852
[DISTRIBUTIONS-OF-GAINS] 513633
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1754279
[NUMBER-OF-SHARES-REDEEMED] 508525
[SHARES-REINVESTED] 436350
[NET-CHANGE-IN-ASSETS] 3509854
[ACCUMULATED-NII-PRIOR] 2609
[ACCUMULATED-GAINS-PRIOR] 25227
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 40851
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 89408
[AVERAGE-NET-ASSETS] 8174663
[PER-SHARE-NAV-BEGIN] 1.37
[PER-SHARE-NII] 0.03
[PER-SHARE-GAIN-APPREC] 0.28
[PER-SHARE-DIVIDEND] 0.03
[PER-SHARE-DISTRIBUTIONS] 0.09
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 1.56
[EXPENSE-RATIO] 0.93
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>Expenses for the calculation are net of a reimbursement from Securities
Management & Research, Inc. Without this reimbursemet, the ratio of expenses
to average net assets would have been 1.10%.
</FN>
</TABLE>
[ARTICLE] 6
[CIK] 0000867050
[NAME] AMERICAN NATIONAL INVESTMENT ACCOUNTS, INC
[SERIES]
[NUMBER] 03
[NAME] BALANCED PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] DEC-31-1997
[INVESTMENTS-AT-COST] 4501548
[INVESTMENTS-AT-VALUE] 5529680
[RECEIVABLES] 40431
[ASSETS-OTHER] 30632
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 5600743
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 5821
[TOTAL-LIABILITIES] 5821
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 446850
[SHARES-COMMON-STOCK] 4024437
[SHARES-COMMON-PRIOR] 3377686
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 95503
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1028132
[NET-ASSETS] 5594922
[DIVIDEND-INCOME] 52282
[INTEREST-INCOME] 160450
[OTHER-INCOME] 0
[EXPENSES-NET] 44077
[NET-INVESTMENT-INCOME] 168655
[REALIZED-GAINS-CURRENT] 350655
[APPREC-INCREASE-CURRENT] 332627
[NET-CHANGE-FROM-OPS] 851937
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 168712
[DISTRIBUTIONS-OF-GAINS] 267353
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 588279
[NUMBER-OF-SHARES-REDEEMED] 256939
[SHARES-REINVESTED] 315411
[NET-CHANGE-IN-ASSETS] 1314185
[ACCUMULATED-NII-PRIOR] 2096
[ACCUMULATED-GAINS-PRIOR] 10164
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 24587
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 63954
[AVERAGE-NET-ASSETS] 4917305
[PER-SHARE-NAV-BEGIN] 1.27
[PER-SHARE-NII] 0.04
[PER-SHARE-GAIN-APPREC] 0.20
[PER-SHARE-DIVIDEND] 0.05
[PER-SHARE-DISTRIBUTIONS] 0.07
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 1.39
[EXPENSE-RATIO] 0.90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>Expenses for the calculation are net of a reimbusement from Securities
Management & Research, Inc. Without this reimbursement, the ratio of expenses
to average net assets would have been 1.30%.
</FN>
</TABLE>
[ARTICLE] 6
[CIK] 0000867050
[NAME] AMERICAN NATIONAL INVESTMENT ACCOUNTS, INC.
[SERIES]
[NUMBER] 04
[NAME] MONEY MARKET PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] DEC-31-1997
[INVESTMENTS-AT-COST] 2801767
[INVESTMENTS-AT-VALUE] 2801767
[RECEIVABLES] 106
[ASSETS-OTHER] 23236
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 2825109
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4440
[TOTAL-LIABILITIES] 4440
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 0
[SHARES-COMMON-STOCK] 2820669
[SHARES-COMMON-PRIOR] 2531875
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 2820669
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 146054
[OTHER-INCOME] 0
[EXPENSES-NET] 23038
[NET-INVESTMENT-INCOME] 123016
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 123016
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 123016
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 420449
[NUMBER-OF-SHARES-REDEEMED] 254671
[SHARES-REINVESTED] 123016
[NET-CHANGE-IN-ASSETS] 288794
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 13299
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 32724
[AVERAGE-NET-ASSETS] 2660467
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.05
[PER-SHARE-GAIN-APPREC] 0.00
[PER-SHARE-DIVIDEND] 0.05
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] 0.87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>Expenses for the calculation are net of a reimbursement from Securities
Management & Research, Inc. Without this reimbursement, the ratio fo expensses
to average net assets would have been 1.23%.
</FN>
</TABLE>
