<PAGE> PAGE 1
000 A000000 07/31/96
000 C000000 0000874775
000 D000000 N
000 E000000 NF
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010 A00AA01 INVESTMENT ADVISERS, INC.
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010 C03AA01 55402
010 C04AA01 4327
011 A00AA01 IAI SECURITIES, INC.
011 B00AA01 8-43310
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<PAGE> PAGE 2
011 C02AA01 MN
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012 A00AA01 INVESTMENT ADVISERS, INC.
012 B00AA01 84-1664
012 C01AA01 MINNEAPOLIS
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015 A00AA01 NORWEST BANK MINNESOTA, N.A.
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<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 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE SUSAN HAEDT
TITLE CONTROLLER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 06
<NAME> IAI MONEY MARKET FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-START> FEB-01-1996
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 31281
<INVESTMENTS-AT-VALUE> 31281
<RECEIVABLES> 63
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 31371
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 113
<TOTAL-LIABILITIES> 113
<SENIOR-EQUITY> 312
<PAID-IN-CAPITAL-COMMON> 30946
<SHARES-COMMON-STOCK> 31258
<SHARES-COMMON-PRIOR> 27375
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 31258
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 854
<OTHER-INCOME> 0
<EXPENSES-NET> 83
<NET-INVESTMENT-INCOME> 771
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 771
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 771
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 251982
<NUMBER-OF-SHARES-REDEEMED> 248856
<SHARES-REINVESTED> 737
<NET-CHANGE-IN-ASSETS> 3863
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 79
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<GROSS-EXPENSE> 105
<AVERAGE-NET-ASSETS> 31548
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> .02
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<PER-SHARE-DIVIDEND> .02
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</TABLE>
EXHIBIT 99.77C
On March 21, 1996, a special meeting of the
shareholders of IAI Funds VI, Inc., IAI Money Market Fund
(the "Fund") was held. In addition to the approval of
auditors, continuation of the current advisory contract and
the election of directors the meeting also addressed the
approval of a new Management Agreement.
The Management Agreement provides that IAI will provide
or arrange for the provision of services needed by the Fund.
These services include investment advisory, administrative
and other miscellaneous shareholder services. The
Management Agreement does not compensate IAI for any
distribution services it may arrange for the Fund. The
Management Agreement further provides that IAI will pay all
of the Fund's expenses except brokerage commissions and
other expenditures in connection with the purchase and sale
of portfolio securities, interest expense and any taxes and
extraordinary expenses specifically approved by a majority
of the Fund's disinterested director's. Finally, the basis
for calculating the fees under the Management Agreement is
average daily net assets. The switch from average month-end
net assets to average daily net assets is expected to have a
negligible effect on the dollar amount of the total fees and
expenses the Fund pays. The new, all-inclusive fee, as a
percentage of the Fund's average daily net assets, that the
Fund will pay IAI under the Management Agreement is equal to
0.60% of the first $250 million in net assets, 0.55% o f the
next $250 million in net assets, and .50% of net assets in
excess of $500 million
The result of the proxy ballot is as follows: IAI
Money Market Fund had 21,491,489 shares voted for the new
Management Agreement and 237,818 shares voted against the
new Management Agreement.
