<PAGE> PAGE 1
000 A000000 03/31/2000
000 C000000 0000869598
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 UNIVERSAL CAPITAL INVESTMENT TRUST
001 B000000 811-6212
001 C000000 3127821515
002 A000000 100 SOUTH WACKER DRIVE, SUITE 2100
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 UNIVERSAL CAPITAL GROWTH FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 GRAVER, BOKHOF, GOODWIN & SULLIVAN
008 B00AA01 A
008 C00AA01 801-35773
008 D01AA01 CHICAGO
008 D02AA01 IL
008 D03AA01 60606
010 A00AA01 UMB BANK, N.A.
010 C01AA01 KANSAS CITY
010 C02AA01 MO
010 C03AA01 64106
010 A00AA02 SUNSTONE FINANCIAL GROUP, INC.
010 B00AA02 84-5792
010 C01AA02 MILWAUKEE
010 C02AA02 WI
010 C03AA02 53202
011 A00AA01 DREHER & ASSOCIATES, INC.
011 B00AA01 8-25923
<PAGE> PAGE 2
011 C01AA01 OAKBROOK TERRACE
011 C02AA01 IL
011 C03AA01 60181
012 A00AA01 SUNSTONE FINANCIAL GROUP, INC.
012 B00AA01 84-5792
012 C01AA01 MILWAUKEE
012 C02AA01 WI
012 C03AA01 53202
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60606
014 A00AA01 DREHER & ASSOCIATES, INC.
014 B00AA01 8-25923
015 A00AA01 UMB BANK, N.A.
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64141
015 C04AA01 6226
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 DREHER & ASSOCIATES, INC.
020 B000001 36-3053807
020 C000001 5
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 5
022 A000001 UMB BANK, N.A.
022 B000001 43-1357092
022 C000001 2153
022 D000001 3726
022 A000002 DONALDSON, LUFKIN & JENRETTE SECERITIES CORP
022 B000002 13-2741729
022 C000002 225
022 D000002 1713
022 A000003 CREDIT SUISSE FRIST BOSTON CORP.
022 B000003 13-5659485
022 C000003 493
022 D000003 0
022 A000004 BT ALEX BROWN INC.
022 B000004 13-3311934
<PAGE> PAGE 3
022 C000004 372
022 D000004 0
022 A000005 PAINE WEBBER INC.
022 B000005 13-2638166
022 C000005 0
022 D000005 259
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 3243
023 D000000 5698
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 Y
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
<PAGE> PAGE 4
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
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086 C02AA00 0
086 D01AA00 0
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086 F01AA00 0
086 F02AA00 0
024 000100 N
025 A000101 DELETE
025 D000101 0
025 A000102 DELETE
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
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028 B020100 0
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028 B040100 744
028 C010100 233
028 C020100 1179
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028 D010100 207
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<PAGE> PAGE 5
028 E040100 300
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028 G020100 1179
028 G030100 0
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029 000100 Y
030 A000100 9
030 B000100 5.50
030 C000100 0.00
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031 B000100 0
032 000100 0
033 000100 0
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
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042 C000100 100
042 D000100 0
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043 000100 38
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046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 250000
048 A020100 1.000
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<PAGE> PAGE 6
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 250000
048 K020100 0.750
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
054 A000100 Y
054 B000100 Y
054 C000100 Y
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 Y
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
058 B000100 N
058 C000100 N
058 D000100 N
058 E000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
062 A000100 N
062 B000100 0.0
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<PAGE> PAGE 7
062 F000100 0.0
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063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
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070 C020100 N
070 D010100 Y
070 D020100 Y
070 E010100 Y
070 E020100 N
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070 I020100 N
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070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
<PAGE> PAGE 8
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 3123
071 B000100 3421
071 C000100 17940
071 D000100 17
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072 Y000100 16
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<PAGE> PAGE 9
073 C000100 0.0000
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074 C000100 369
074 D000100 0
074 E000100 0
074 F000100 19506
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 6
074 M000100 14
074 N000100 19895
074 O000100 0
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074 Q000100 0
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074 R040100 45
074 S000100 0
074 T000100 19838
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074 V010100 24.53
074 V020100 0.00
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SIGNATURE JOHN BUCKEL
TITLE FINANCIAL ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869598
<NAME> UNIVERSAL CAPITAL INVESTMENT TRUST
<SERIES>
<NUMBER> 1
<NAME> UNIVERSAL CAPITAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 11,135,024
<INVESTMENTS-AT-VALUE> 19,874,730
<RECEIVABLES> 6,229
<ASSETS-OTHER> 14,157
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,895,116
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 57,023
<TOTAL-LIABILITIES> 57,023
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,900,917
<SHARES-COMMON-STOCK> 808,891
<SHARES-COMMON-PRIOR> 795,729
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,197,440
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,739,706
<NET-ASSETS> 19,838,063
<DIVIDEND-INCOME> 48,705
<INTEREST-INCOME> 16,072
<OTHER-INCOME> 0
<EXPENSES-NET> (186,543)
<NET-INVESTMENT-INCOME> (121,766)
<REALIZED-GAINS-CURRENT> 1,338,979
<APPREC-INCREASE-CURRENT> 1,887,485
<NET-CHANGE-FROM-OPS> 3,104,698
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,205,318)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,395
<NUMBER-OF-SHARES-REDEEMED> 64,725
<SHARES-REINVESTED> 51,492
<NET-CHANGE-IN-ASSETS> 2,163,320
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,063,779
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 93,271
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 202,392
<AVERAGE-NET-ASSETS> 18,652,588
<PER-SHARE-NAV-BEGIN> 22.21
<PER-SHARE-NII> (0.15)
<PER-SHARE-GAIN-APPREC> 4.04
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.57)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.53
<EXPENSE-RATIO> 2.0
</TABLE>
Exhibit to Accompany
Item 77J
Form N-SAR
Universal Capital Growth Fund
(the "Fund")
According to the provisions of Statement of
Position 93 - 2 (SOP 93 - 2) "Determination,
Disclosure and Financial Statement
Presentation of Income, Capital Gain and
Return of Capital Distributions by Investment
Companies," the Fund is required to report
the accumulated net investment income (loss)
and accumulated net capital gain (loss)
accounts to approximate amounts available for
future distributions on a tax basis (or to
offset future realized capital gains). As a
result, the Fund has reclassified accumulated
net investment losses to reduce paid in capital
by $121,766 for the six month period ended
March 31, 2000.
This reclassification has no impact on the
net asset value of the Fund and is designed
to present the Fund's capital accounts on a
tax basis.
