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002 A000000 1301 SW FIFTH AVENUE
002 B000000 PORTLAND
002 C000000 OR
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004 000000 N
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020 A000003 GOLDMAN SACHS & CO.
020 B000003 135108880
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020 A000004 MORGAN STANLEY & CO.
020 B000004 132655998
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020 A000005 FIRST BOSTON CORP.
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020 A000007 MERRILL LYNCH, PIERCE
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020 A000008 DONALDSON, LUFKIN & JENRE
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<PAGE> PAGE 2
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<PAGE> PAGE 6
085 B000000 N
SIGNATURE GEORGE HANSETH
TITLE SR. VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
AUDITED ANNUAL REPORT OF THE COLUMBIA FUNDS DATED DECEMBER 31, 1996, AND
THE AUDITED ANNUAL REPORT OF THE COLUMBIA FUNDS DATED DECEMBER 31, 1995,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000876613
<NAME> COLUMBIA BALANCED FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 577,068,626
<INVESTMENTS-AT-VALUE> 633,117,994
<RECEIVABLES> 5,924,771
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 36,727,709
<TOTAL-ASSETS> 675,770,474
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,177,554
<TOTAL-LIABILITIES> 3,177,554
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 616,079,867
<SHARES-COMMON-STOCK> 33,105,142
<SHARES-COMMON-PRIOR> 24,241,479
<ACCUMULATED-NII-CURRENT> 540,163
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (76,478)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 56,049,368
<NET-ASSETS> 672,592,920
<DIVIDEND-INCOME> 5,822,671
<INTEREST-INCOME> 20,230,059
<OTHER-INCOME> 0
<EXPENSES-NET> 3,820,766
<NET-INVESTMENT-INCOME> 22,231,964
<REALIZED-GAINS-CURRENT> 41,189,499
<APPREC-INCREASE-CURRENT> 4,167,518
<NET-CHANGE-FROM-OPS> 67,588,981
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 22,016,659
<DISTRIBUTIONS-OF-GAINS> 41,286,704
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,203,107
<NUMBER-OF-SHARES-REDEEMED> 6,405,495
<SHARES-REINVESTED> 3,066,051
<NET-CHANGE-IN-ASSETS> 185,825,427
<ACCUMULATED-NII-PRIOR> 211,082
<ACCUMULATED-GAINS-PRIOR> 21,339
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,935,512
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,820,766
<AVERAGE-NET-ASSETS> 582,333,413
<PER-SHARE-NAV-BEGIN> 20.08
<PER-SHARE-NII> .76
<PER-SHARE-GAIN-APPREC> 1.58
<PER-SHARE-DIVIDEND> .76
<PER-SHARE-DISTRIBUTIONS> 1.34
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.32
<EXPENSE-RATIO> .66
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
