<PAGE> PAGE 1
000 B000000 10/31/97
000 C000000 0000879132
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 ASTRA INSTITUTIONAL SECURITIES TRUST
001 B000000 811-6408
001 C000000 3104458850
002 A000000 11400 WEST OLYMPIC BLVD SUITE 200
002 B000000 LOS ANGELES
002 C000000 CA
002 D010000 90064
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 INSTITUTIONAL ADJ. U.S. GOV'T SEC. PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 INSTITUTIONAL ADJ. RATE SECURITIES PORTFOLIO
007 C030200 N
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 ASTRA MANAGEMENT CORPORATION
008 B00AA01 A
008 C00AA01 801-8178
008 D01AA01 LOS ANGELES
008 D02AA01 CA
008 D03AA01 90064
010 A00AA01 ASTRA MANAGEMENT CORPORATION
010 C01AA01 LOS ANGELES
010 C02AA01 CA
010 C03AA01 90064
011 A00AA01 ASTRA DISTRIBUTORS CORP.
011 B00AA01 8-000000
011 C01AA01 LOS ANGELES
011 C02AA01 CA
011 C03AA01 90064
<PAGE> PAGE 2
012 A00AA01 DST SYSTEMS, INC.
012 B00AA01 85-00535
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
012 C04AA01 1594
013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19102
013 B04AA01 1707
015 A00AA01 PNC BANK NA
015 B00AA01 C
015 C01AA01 LESTER
015 C02AA01 PA
015 C03AA01 19113
015 C04AA01 0000
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 12
019 C00AA00 ASTRAGROUP
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 BANK OF AMERICA
022 B000001 94-1687665
022 C000001 269405
022 D000001 14690
022 A000002 SANDLER & O'NEILL
022 B000002 13-3481277
022 C000002 69901
022 D000002 125955
022 A000003 BEAR STEARNS
022 B000003 13-3299429
022 C000003 19424
022 D000003 46662
022 A000004 SANWA BANK
022 B000004 13-3046258
022 C000004 47571
022 D000004 0
022 A000005 SALOMON BROTHERS
022 B000005 13-3082694
<PAGE> PAGE 3
022 C000005 7798
022 D000005 4835
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 414099
023 D000000 192142
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 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
<PAGE> PAGE 4
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 N
060 B00AA00 N
061 00AA00 1000000
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 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
<PAGE> PAGE 5
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 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
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
080 A00AA00 FEDERAL INSURANCE COMPANY
080 C00AA00 5000
081 A00AA00 Y
081 B00AA00 21
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
<PAGE> PAGE 6
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 19
028 A020100 356
028 A030100 0
028 A040100 3052
028 B010100 1
028 B020100 340
028 B030100 0
028 B040100 2608
028 C010100 40
028 C020100 338
028 C030100 0
028 C040100 2869
028 D010100 17
028 D020100 323
028 D030100 0
028 D040100 3252
028 E010100 1
028 E020100 312
028 E030100 0
028 E040100 3262
028 F010100 0
028 F020100 292
028 F030100 0
028 F040100 2740
028 G010100 78
028 G020100 1961
028 G030100 0
028 G040100 17783
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 500000
048 A020100 0.550
048 B010100 500000
<PAGE> PAGE 7
048 B020100 0.500
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
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 1000000
048 K020100 0.450
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 40.3
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 5.6
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 4.8
064 A000100 N
064 B000100 N
071 A000100 99034
071 B000100 137879
071 C000100 64957
071 D000100 152
072 A000100 6
072 B000100 5357
<PAGE> PAGE 8
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 398
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 59
072 K000100 0
072 L000100 0
072 M000100 0
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 368
072 R000100 16
072 S000100 60
072 T000100 0
072 U000100 1
072 V000100 0
072 W000100 2
072 X000100 904
072 Y000100 0
072 Z000100 4453
072AA000100 0
072BB000100 30696
072CC010100 33017
072CC020100 0
072DD010100 4465
072DD020100 0
072EE000100 0
073 A010100 4.8600
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 185
074 B000100 0
074 C000100 22444
074 D000100 3101
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 37508
074 K000100 0
074 L000100 571
074 M000100 0
074 N000100 63809
074 O000100 7707
074 P000100 0
<PAGE> PAGE 9
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 370
074 S000100 0
074 T000100 55732
074 U010100 701
074 U020100 0
074 V010100 79.45
074 V020100 0.00
074 W000100 0.0000
074 X000100 0
074 Y000100 0
075 A000100 0
075 B000100 72299
076 000100 0.00
028 A010200 13
028 A020200 38
028 A030200 0
028 A040200 542
028 B010200 3
028 B020200 37
028 B030200 0
028 B040200 261
028 C010200 3
028 C020200 34
028 C030200 0
028 C040200 501
028 D010200 5
028 D020200 33
028 D030200 0
028 D040200 356
028 E010200 2
028 E020200 33
028 E030200 0
028 E040200 285
028 F010200 2
028 F020200 27
028 F030200 0
028 F040200 259
028 G010200 28
028 G020200 202
028 G030200 0
028 G040200 2204
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 500000
<PAGE> PAGE 10
048 A020200 0.650
048 B010200 500000
048 B020200 0.600
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 1000000
048 K020200 0.550
055 A000200 N
055 B000200 N
056 000200 N
057 000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 35.6
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 16.6
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 237
063 B000200 0.0
064 A000200 N
064 B000200 N
071 A000200 10531
071 B000200 17403
071 C000200 9098
071 D000200 110
<PAGE> PAGE 11
072 A000200 6
072 B000200 536
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 53
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 7
072 K000200 0
072 L000200 0
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 44
072 R000200 8
072 S000200 2
072 T000200 0
072 U000200 1
072 V000200 0
072 W000200 -19
072 X000200 96
072 Y000200 0
072 Z000200 440
072AA000200 0
072BB000200 1918
072CC010200 0
072CC020200 1873
072DD010200 441
072DD020200 0
072EE000200 0
073 A010200 2.4990
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 101
074 B000200 0
074 C000200 2141
074 D000200 1001
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 2721
074 K000200 0
074 L000200 105
074 M000200 0
074 N000200 6069
<PAGE> PAGE 12
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 46
074 S000200 0
074 T000200 6023
074 U010200 132
074 U020200 0
074 V010200 45.69
074 V020200 0.00
074 W000200 0.0000
074 X000200 0
074 Y000200 0
075 A000200 0
075 B000200 8154
076 000200 0.00
SIGNATURE KATHY THREN
TITLE COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000879132
<NAME> ASTRA INSTITUTIONAL SECURITIES TRUST
<SERIES>
<NUMBER> 01
<NAME> INSTITUTIONAL ADJUSTABLE U.S. GOVERNMENT SECURITIES PORTFOLI
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 25544561
<INVESTMENTS-AT-VALUE> 25545022
<RECEIVABLES> 38212804
<ASSETS-OTHER> 50792
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 63808618
<PAYABLE-FOR-SECURITIES> 7706753
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 369650
<TOTAL-LIABILITIES> 63808618
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 193170529
<SHARES-COMMON-STOCK> 701522
<SHARES-COMMON-PRIOR> 897978
<ACCUMULATED-NII-CURRENT> 4452861
<OVERDISTRIBUTION-NII> (2870)
<ACCUMULATED-NET-GAINS> (137434858)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 461
<NET-ASSETS> 55732214
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5357302
<OTHER-INCOME> 0
<EXPENSES-NET> 904441
<NET-INVESTMENT-INCOME> 4452861
<REALIZED-GAINS-CURRENT> (30696238)
<APPREC-INCREASE-CURRENT> 33017047
<NET-CHANGE-FROM-OPS> 6597965
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4456778
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2679
<NUMBER-OF-SHARES-REDEEMED> 515489
<SHARES-REINVESTED> 59606
<NET-CHANGE-IN-ASSETS> (33796001)
<ACCUMULATED-NII-PRIOR> 8585041
<ACCUMULATED-GAINS-PRIOR> (106738620)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 397644
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 904441
<AVERAGE-NET-ASSETS> 72298879
<PER-SHARE-NAV-BEGIN> 77.38
<PER-SHARE-NII> 4.86
<PER-SHARE-GAIN-APPREC> 2.07
<PER-SHARE-DIVIDEND> 4.86
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 79.45
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000879132
<NAME> ASTRA INSTITUTIONAL SECURITIES TRUST
<SERIES>
<NUMBER> 02
<NAME> INSTITUTIONAL ADJUSTABLE RATE SECURITIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 3130043
<INVESTMENTS-AT-VALUE> 3130491
<RECEIVABLES> 2837859
<ASSETS-OTHER> 100758
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6069108
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 45763
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 121393520
<SHARES-COMMON-STOCK> 131827
<SHARES-COMMON-PRIOR> 232576
<ACCUMULATED-NII-CURRENT> 440623
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (115370301)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 448
<NET-ASSETS> 6023344
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 536330
<OTHER-INCOME> 0
<EXPENSES-NET> 95707
<NET-INVESTMENT-INCOME> 440623
<REALIZED-GAINS-CURRENT> (1917980)
<APPREC-INCREASE-CURRENT> 1872895
<NET-CHANGE-FROM-OPS> 395538
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 440945
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7585
<NUMBER-OF-SHARES-REDEEMED> 118927
<SHARES-REINVESTED> 10594
<NET-CHANGE-IN-ASSETS> (4683940)
<ACCUMULATED-NII-PRIOR> 1175645
<ACCUMULATED-GAINS-PRIOR> (113452321)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 52999
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 95707
<AVERAGE-NET-ASSETS> 8153721
<PER-SHARE-NAV-BEGIN> 46.04
<PER-SHARE-NII> 2.497
<PER-SHARE-GAIN-APPREC> (.348)
<PER-SHARE-DIVIDEND> 2.499
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 45.69
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
