<PAGE> PAGE 1
000 B000000 10/31/96
000 C000000 0000879752
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 AON FUNDS
001 B000000 811-6422
001 C000000 8002663637
002 A000000 123 NORTH WACKER DRIVE
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 6
007 C010100 1
007 C020100 MONEY MARKET FUND
007 C030100 N
007 C010200 2
007 C020200 ASSET ALLOCATION FUND
007 C030200 N
007 C010300 3
007 C020300 GOVERNMENT SECURITIES FUND
007 C030300 N
007 C010400 4
007 C020400 S&P 500 INDEX FUND
007 C030400 N
007 C010500 5
007 C020500 REIT INDEX FUND
007 C030500 N
007 C010600 6
007 C020600 INTERNATIONAL EQUITY FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 AON SECURITIES CORPORATION
010 C01AA01 CHICAGO
010 C02AA01 IL
010 C03AA01 60606
011 A00AA01 AON SECURITIES CORPORATION
011 B00AA01 8-000000
011 C01AA01 CHICAGO
<PAGE> PAGE 2
011 C02AA01 IL
011 C03AA01 60606
012 A00AA01 FIRSTAR TRUST COMPANY
012 B00AA01 85-00410
012 C01AA01 MILWAUKEE
012 C02AA01 WI
012 C03AA01 54202
013 A00AA01 ERNST & YOUNG
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60606
014 A00AA01 AON SECURITIES CORPORATION
014 B00AA01 8-0000000
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 SALOMON BROTHERS
020 C000001 42
020 A000002 DONALDSON LUFKIN JENSON - PERSHING
020 C000002 18
020 A000003 JEFFRIES
020 C000003 13
020 A000004 HOENIG
020 C000004 12
020 A000005 INSTINET
020 C000005 12
020 A000006 GOLDMAN SACHS
020 C000006 12
020 A000007 NATWEST USA BROKERAGE
020 C000007 5
020 A000008 SCHRODER SECURITIES
020 C000008 5
020 A000009 PAINE WEBBER
020 C000009 5
020 A000010 DLJ CAPITAL MARKETS
020 C000010 5
021 000000 189
022 A000001 MERRILL LYNCH
022 C000001 2480257
022 D000001 127024
022 A000002 FIRST CHICAGO CAPITAL MARKETS
022 C000002 1377696
022 D000002 207495
022 A000003 GOLDMAN SACHS
022 C000003 990901
022 D000003 40254
022 A000004 HARRIS-NESBITT THOMAS
022 C000004 633539
022 D000004 0
022 A000005 MORGAN STANLEY
022 C000005 327700
<PAGE> PAGE 3
022 D000005 10524
022 A000006 AMERICAN EXPRESS
022 C000006 135239
022 D000006 9978
022 A000007 HOUSEHOLD FINANCE CORP
022 C000007 114336
022 D000007 9987
022 A000008 FORD MOTOR CREDIT COMPANY
022 C000008 116446
022 D000008 5917
022 A000009 ASSOCIATES CORPORATION
022 C000009 115930
022 D000009 0
022 A000010 PRUDENTIAL FUNDING
022 C000010 108282
022 D000010 0
023 C000000 7402561
023 D000000 547340
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 Y
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
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 100
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 4
044 00AA00 26
<PAGE> PAGE 4
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 Y
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 Y
077 J000000 N
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
080 A00AA00 CONTINENTAL CASUALTY COMPANY
080 C00AA00 1000
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
<PAGE> PAGE 5
083 B00AA00 0
084 A00AA00 N
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
008 A000101 AON ADVISORS, INC.
008 B000101 A
008 C000101 801-17354
008 D010101 CHICAGO
008 D020101 IL
008 D030101 60606
008 A000102 DELETE
015 A000101 FIRSTAR TRUST COMPANY
015 B000101 C
015 C010101 MILWAUKEE
015 C020101 WI
015 C030101 53202
015 E010101 X
028 A010100 351756
028 A020100 378
028 A030100 0
028 A040100 381894
028 B010100 483821
028 B020100 410
028 B030100 0
028 B040100 404922
028 C010100 477121
028 C020100 445
028 C030100 0
028 C040100 425613
028 D010100 431030
028 D020100 802
028 D030100 0
028 D040100 364569
028 E010100 368197
028 E020100 727
028 E030100 0
028 E040100 456011
028 F010100 505322
<PAGE> PAGE 6
028 F020100 667
028 F030100 0
028 F040100 514065
028 G010100 2617247
028 G020100 3429
028 G030100 0
028 G040100 2547074
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.300
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
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 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 11.3
062 D000100 0.7
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 97.8
062 J000100 0.0
<PAGE> PAGE 7
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 39
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
<PAGE> PAGE 8
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 22412
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 1402
072 G000100 33
072 H000100 0
072 I000100 54
072 J000100 184
072 K000100 0
072 L000100 0
072 M000100 15
072 N000100 13
072 O000100 0
072 P000100 0
072 Q000100 105
072 R000100 56
072 S000100 21
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 11
072 X000100 1894
072 Y000100 960
072 Z000100 21478
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 21462
072DD020100 16
072EE000100 0
073 A010100 0.0578
073 A020100 0.0083
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 2816
074 C000100 430834
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
<PAGE> PAGE 9
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 11628
074 M000100 0
074 N000100 445278
074 O000100 0
074 P000100 221
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 49953
074 S000100 0
074 T000100 395104
074 U010100 393097
074 U020100 2008
074 V010100 1.00
074 V020100 1.00
074 W000100 1.0000
074 X000100 174
074 Y000100 0
075 A000100 406313
075 B000100 0
076 000100 0.00
008 A000201 AON ADVISORS, INC.
008 B000201 A
008 C000201 801-17354
008 D010201 CHICAGO
008 D020201 IL
008 D030201 60606
015 A000201 FIRSTAR TRUST COMPANY
015 B000201 C
015 C010201 MILWAUKEE
015 C020201 WI
015 C030201 53202
015 E010201 X
028 A010200 6
028 A020200 646
028 A030200 0
028 A040200 1
028 B010200 10
028 B020200 0
028 B030200 0
028 B040200 4
028 C010200 8
028 C020200 0
028 C030200 0
028 C040200 4443
028 D010200 12
028 D020200 550
<PAGE> PAGE 10
028 D030200 0
028 D040200 0
028 E010200 2056
028 E020200 0
028 E030200 0
028 E040200 2008
028 F010200 5
028 F020200 0
028 F030200 0
028 F040200 4
028 G010200 2097
028 G020200 1196
028 G030200 0
028 G040200 6460
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 250000
048 A020200 0.650
048 B010200 250000
048 B020200 0.550
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 500000
048 K020200 0.450
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
<PAGE> PAGE 11
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 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 Y
067 000200 Y
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
<PAGE> PAGE 12
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 106607
071 B000200 93643
071 C000200 78172
071 D000200 120
072 A000200 12
072 B000200 2221
072 C000200 736
072 D000200 0
072 E000200 0
072 F000200 610
072 G000200 6
072 H000200 0
072 I000200 18
072 J000200 36
072 K000200 0
072 L000200 0
072 M000200 11
072 N000200 30
072 O000200 0
072 P000200 0
072 Q000200 34
072 R000200 13
072 S000200 13
072 T000200 1
072 U000200 0
072 V000200 0
072 W000200 0
072 X000200 772
072 Y000200 0
072 Z000200 2185
072AA000200 6419
072BB000200 4164
072CC010200 4523
072CC020200 0
072DD010200 2174
072DD020200 11
072EE000200 2071
073 A010200 0.7109
073 A020200 0.0663
073 B000200 0.2990
073 C000200 0.0000
074 A000200 0
<PAGE> PAGE 13
074 B000200 0
074 C000200 10123
074 D000200 20881
074 E000200 0
074 F000200 60801
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 1041
074 K000200 0
074 L000200 372
074 M000200 0
074 N000200 93218
074 O000200 2086
074 P000200 252
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 2600
074 S000200 0
074 T000200 88280
074 U010200 6764
074 U020200 161
074 V010200 12.75
074 V020200 12.75
074 W000200 0.0000
074 X000200 37
074 Y000200 0
075 A000200 0
075 B000200 88393
076 000200 0.00
008 A000301 AON ADVISORS, INC.
008 B000301 A
008 C000301 801-17354
008 D010301 CHICAGO
008 D020301 IL
008 D030301 60606
015 A000301 FIRSTAR TRUST COMPANY
015 B000301 C
015 C010301 MILWAUKEE
015 C020301 WI
015 C030301 53202
015 E010301 X
028 A010300 0
028 A020300 0
028 A030300 0
028 A040300 0
028 B010300 0
028 B020300 0
028 B030300 0
<PAGE> PAGE 14
028 B040300 0
028 C010300 0
028 C020300 0
028 C030300 0
028 C040300 0
028 D010300 0
028 D020300 0
028 D030300 0
028 D040300 0
028 E010300 30000
028 E020300 0
028 E030300 0
028 E040300 0
028 F010300 10000
028 F020300 52
028 F030300 0
028 F040300 0
028 G010300 40000
028 G020300 52
028 G030300 0
028 G040300 0
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 100000
048 A020300 0.450
048 B010300 100000
048 B020300 0.400
048 C010300 100000
048 C020300 0.350
048 D010300 100000
048 D020300 0.300
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 400000
048 K020300 0.250
049 000300 N
050 000300 N
051 000300 N
<PAGE> PAGE 15
052 000300 N
053 A000300 Y
053 B000300 Y
053 C000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 67.8
062 N000300 28.0
062 O000300 0.0
062 P000300 3.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 6.9
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
<PAGE> PAGE 16
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 N
070 O020300 N
070 P010300 Y
070 P020300 Y
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 50394
071 B000300 981
071 C000300 24944
071 D000300 4
072 A000300 2
072 B000300 241
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 15
072 G000300 2
072 H000300 0
072 I000300 2
072 J000300 1
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 7
072 O000300 0
072 P000300 0
072 Q000300 5
072 R000300 1
072 S000300 0
072 T000300 1
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 34
072 Y000300 0
072 Z000300 207
072AA000300 0
072BB000300 31
072CC010300 482
072CC020300 0
072DD010300 191
<PAGE> PAGE 17
072DD020300 13
072EE000300 0
073 A010300 0.0687
073 A020300 0.0652
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 5
074 D000300 40013
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 10650
074 M000300 0
074 N000300 50668
074 O000300 9981
074 P000300 15
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 167
074 S000300 0
074 T000300 40505
074 U010300 3765
074 U020300 200
074 V010300 10.21
074 V020300 10.21
074 W000300 0.0000
074 X000300 3
074 Y000300 0
075 A000300 0
075 B000300 25201
076 000300 0.00
008 A000401 AON ADVISORS, INC.
008 B000401 A
008 C000401 801-17354
008 D010401 CHICAGO
008 D020401 IL
008 D030401 60606
015 A000401 FIRSTAR TRUST COMPANY
015 B000401 C
015 C010401 MILWAUKEE
015 C020401 WI
015 C030401 53202
015 E010401 X
<PAGE> PAGE 18
028 A010400 0
028 A020400 0
028 A030400 0
028 A040400 0
028 B010400 0
028 B020400 0
028 B030400 0
028 B040400 0
028 C010400 0
028 C020400 0
028 C030400 0
028 C040400 0
028 D010400 0
028 D020400 0
028 D030400 0
028 D040400 0
028 E010400 12000
028 E020400 0
028 E030400 0
028 E040400 0
028 F010400 13000
028 F020400 0
028 F030400 0
028 F040400 0
028 G010400 25000
028 G020400 0
028 G030400 0
028 G040400 0
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.300
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
<PAGE> PAGE 19
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 Y
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 Y
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
<PAGE> PAGE 20
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 Y
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 24997
071 B000400 8
071 C000400 15118
071 D000400 0
072 A000400 2
072 B000400 11
072 C000400 46
072 D000400 0
072 E000400 0
072 F000400 7
072 G000400 1
072 H000400 0
072 I000400 2
072 J000400 7
072 K000400 0
072 L000400 0
072 M000400 0
072 N000400 6
072 O000400 0
072 P000400 0
072 Q000400 6
072 R000400 1
072 S000400 0
072 T000400 1
072 U000400 0
072 V000400 0
<PAGE> PAGE 21
072 W000400 1
072 X000400 32
072 Y000400 14
072 Z000400 39
072AA000400 0
072BB000400 0
072CC010400 850
072CC020400 0
072DD010400 35
072DD020400 2
072EE000400 0
073 A010400 0.0157
073 A020400 0.0121
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 36
074 D000400 0
074 E000400 0
074 F000400 25839
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 7
074 L000400 26
074 M000400 0
074 N000400 25908
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 56
074 S000400 0
074 T000400 25852
074 U010400 2200
074 U020400 200
074 V010400 10.77
074 V020400 10.77
074 W000400 0.0000
074 X000400 4
074 Y000400 0
075 A000400 0
075 B000400 15127
076 000400 0.00
008 A000501 AON ADVISORS, INC.
008 B000501 A
008 C000501 801-17354
<PAGE> PAGE 22
008 D010501 CHICAGO
008 D020501 IL
008 D030501 60606
015 A000501 FIRSTAR TRUST COMPANY
015 B000501 C
015 C010501 MILWAUKEE
015 C020501 WI
015 C030501 53202
015 E010501 X
028 A010500 0
028 A020500 0
028 A030500 0
028 A040500 0
028 B010500 0
028 B020500 0
028 B030500 0
028 B040500 0
028 C010500 0
028 C020500 0
028 C030500 0
028 C040500 0
028 D010500 0
028 D020500 0
028 D030500 0
028 D040500 0
028 E010500 10100
028 E020500 0
028 E030500 0
028 E040500 0
028 F010500 15000
028 F020500 0
028 F030500 0
028 F040500 0
028 G010500 25100
028 G020500 0
028 G030500 0
028 G040500 0
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 100000
048 A020500 0.600
048 B010500 100000
048 B020500 0.550
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
<PAGE> PAGE 23
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 200000
048 K020500 0.500
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 Y
066 E000500 Y
067 000500 N
068 A000500 N
068 B000500 N
069 000500 Y
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
<PAGE> PAGE 24
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 Y
070 P020500 Y
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 25171
071 B000500 0
071 C000500 12925
071 D000500 0
072 A000500 2
072 B000500 10
072 C000500 153
072 D000500 0
072 E000500 0
072 F000500 10
072 G000500 1
072 H000500 0
072 I000500 2
072 J000500 1
072 K000500 0
072 L000500 0
072 M000500 0
072 N000500 8
072 O000500 0
072 P000500 0
072 Q000500 5
072 R000500 0
<PAGE> PAGE 25
072 S000500 0
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 0
072 X000500 27
072 Y000500 0
072 Z000500 136
072AA000500 0
072BB000500 0
072CC010500 454
072CC020500 0
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 28
074 D000500 0
074 E000500 0
074 F000500 25625
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 61
074 M000500 0
074 N000500 25714
074 O000500 0
074 P000500 10
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 14
074 S000500 0
074 T000500 25690
074 U010500 2310
074 U020500 150
074 V010500 10.44
074 V020500 10.44
074 W000500 0.0000
074 X000500 3
074 Y000500 0
075 A000500 0
075 B000500 12968
<PAGE> PAGE 26
076 000500 0.00
008 A000601 AON ADVISORS, INC.
008 B000601 A
008 C000601 801-17354
008 D010601 CHICAGO
008 D020601 IL
008 D030601 60606
008 A000602 BRINSON PARTNERS, INC.
008 B000602 S
008 C000602 801-34910
008 D010602 CHICAGO
008 D020602 IL
008 D030602 60604
008 D040602 1295
015 A000601 CHASE MANHATTAN BANK
015 B000601 S
015 C010601 BROOKLYN
015 C020601 NY
015 C030601 11245
015 E010601 X
028 A010600 0
028 A020600 0
028 A030600 0
028 A040600 0
028 B010600 0
028 B020600 0
028 B030600 0
028 B040600 0
028 C010600 0
028 C020600 0
028 C030600 0
028 C040600 0
028 D010600 0
028 D020600 0
028 D030600 0
028 D040600 0
028 E010600 15000
028 E020600 0
028 E030600 0
028 E040600 0
028 F010600 10000
028 F020600 0
028 F030600 0
028 F040600 0
028 G010600 25000
028 G020600 0
028 G030600 0
028 G040600 0
028 H000600 0
045 000600 Y
046 000600 N
<PAGE> PAGE 27
047 000600 Y
048 000600 0.000
048 A010600 100000
048 A020600 0.950
048 B010600 100000
048 B020600 0.900
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 200000
048 K020600 0.850
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
066 A000600 Y
066 B000600 N
<PAGE> PAGE 28
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 Y
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 Y
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 23649
071 B000600 0
071 C000600 15906
071 D000600 0
072 A000600 2
072 B000600 42
<PAGE> PAGE 29
072 C000600 53
072 D000600 0
072 E000600 0
072 F000600 28
072 G000600 1
072 H000600 0
072 I000600 2
072 J000600 2
072 K000600 0
072 L000600 0
072 M000600 0
072 N000600 5
072 O000600 0
072 P000600 0
072 Q000600 5
072 R000600 1
072 S000600 0
072 T000600 1
072 U000600 0
072 V000600 0
072 W000600 1
072 X000600 46
072 Y000600 0
072 Z000600 49
072AA000600 29
072BB000600 0
072CC010600 178
072CC020600 0
072DD010600 74
072DD020600 6
072EE000600 0
073 A010600 0.0325
073 A020600 0.0290
073 B000600 0.0000
073 C000600 0.0000
074 A000600 18
074 B000600 0
074 C000600 1996
074 D000600 0
074 E000600 0
074 F000600 23792
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 41
074 M000600 36
074 N000600 25883
074 O000600 587
074 P000600 28
<PAGE> PAGE 30
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 91
074 S000600 0
074 T000600 25177
074 U010600 2269
074 U020600 200
074 V010600 10.20
074 V020600 10.20
074 W000600 0.0000
074 X000600 4
074 Y000600 0
075 A000600 0
075 B000600 16867
076 000600 0.00
SIGNATURE BRIAN LAWRENCE
TITLE CONTROLLER
ITEM 99.77B
SUPPLEMENTARY REPORT OF INDEPENDENT AUDITORS
The Board of Trustees
Aon Funds
In planning and performing our audit of the financial statements of each of
the Aon Funds consisting of the Money Market Fund and Asset Allocation Fund
for the year ended October 31, 1996 and the Government Securities Fund, S&P
500 Index Fund, International Equity Fund and REIT Index Fund for the period
from September 3, 1996 (commencement of operations) to October 31, 1996, 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 Aon 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
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 October 31, 1996.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
ERNST & YOUNG LLP
ERNST & YOUNG LLP
Chicago, Illinois
December 19, 1996
ITEM 99.77C
AON ASSET MANAGEMENT FUNDS, INC. ("THE FUND") REPORT OF SHAREHOLDER MEETINGS
On July 10, 1996 a special meeting of shareholders was held. There were
292,151,194.350 outstanding shares of the Class A Money Market Portfolio
eligible to vote at the meeting and 85,562.61 outstanding shares of the Class
B Flexible Asset Allocation Portfolio eligible to vote at the meeting.
At the meeting the following Directors were elected by the shareholders of
both Portfolios voting together.
<TABLE>
<CAPTION>
VOTES
-----
Broker Broker
------ ------
For Against Withheld Non-Votes
--- ------- -------- ---------
<S> <C> <C> <C> <C>
Michael Cavataio 286,374,057.038 36,177.8 0 0
Michael A. Conway 286,374,057.038 36,177.8 0 0
Carleton D. Pearl 286,374,057.038 36,177.8 0 0
Richard J. Peters 286,374,057.038 36,177.8 0 0
Donald W. Phillips 286,374,057.038 36,177.8 0 0
</TABLE>
These gentlemen comprise the entire Board of Directors of the Fund and
following the reorganization discussed below will comprise the entire Board
of Trustees of Aon Funds.
Other matters voted on at the meeting were as follows:
Approval of an Agreement and Plan of Reorganization providing for the
acquisition of all of the assets of each Portfolio of the Fund by a
corresponding series of Aon Funds, a Delaware business trust (the "Trust") in
exchange for shares of beneficial interest in each such series of the Trust,
the distribution of such shares of each series of the Trust to shareholders
of the corresponding Portfolio of the Fund, and the subsequent dissolution
of the Fund, with the shareholders of each such portfolio of the Fund
voting separately with respect to the approval of the Agreement and Plan of
Reorganization.
<TABLE>
<CAPTION>
VOTES
-----
Broker Broker
------ ------
For Against Withheld Non-Votes
--- ------- -------- ---------
<S> <C> <C> <C> <C>
Money Market Portfolio 279,152,583.038 36,177.8 0 0
Flexible Asset Allocation 85,562.61 0 0 0
Portfolio
</TABLE>
Approval of the proposed amended Investment Advisory Agreement with Aon
Advisors, Inc., with the shareholders of each Portfolio of the Fund voting
separately with respect to such approval.
<TABLE>
<CAPTION>
VOTES
-----
Broker Broker
------ ------
For Against Withheld Non-Votes
--- ------- -------- ---------
<S> <C> <C> <C> <C>
Money Market Portfolio 279,152,583.038 36,177.8 0 0
Flexible Asset Allocation 85,562.61 0 0 0
Portfolio
</TABLE>
ITEM 99.77I
Pursuant to the consummation on September 3, 1996 of the Agreement and
Plan of Reorganization providing for the acquisition of all of the assets of
each Portfolio of Aon Asset Management Fund, Inc., the predecessor of Aon
Funds, by a corresponding series of Aon Funds, a Delaware business trust, in
exchange for shares of beneficial interest in each such series of Aon Funds,
and the distribution of such shares of each series of Aon Funds to shareholders
of the corresponding Portfolio of Aon Asset Management Fund, Inc., the rights
of the holders of the initial class (Class Y) of shares of the Money Market
Fund and the Asset Allocation Fund have been modified. The general effects
of the modification upon the rights of the holders of such shares is described
in the Proxy Statement of Aon Asset Management Fund, Inc. dated June 10, 1996
filed with the Commission electronically on June 12, 1996, which description
is incorporated herein by reference.
Also on September 3, 1996, Aon Funds commenced offering a second class
of shares (Class C) of each of the Money Market Fund and the Asset Allocation
Fund and Class Y and Class C shares of four new series, the Government
Securities Fund, the S&P 500 Index Fund, the REIT Index Fund and the
International Equity Fund. The respective descriptions of these new classes
and series called for by applicable registration statement items are included
in Post-Effective Amendment No. 9 to the Registration Statement of Aon Funds
on Form N-1A filed with the Commission on August 23, 1996 (Registration Nos.
33-43133 and 811-6422), which descriptions are incorporated herein by
reference.
ITEM 99.77Q1
(a)(i) Agreement and Declaration of Trust of Aon Funds*
(ii) By-Laws of Aon Funds*
(d)(i) Resolutions Authorizing Six Series of Shares (and Classes within
Series)*
(ii) Form of Aon Funds Plan pursuant to Rule 18f-3(d)*
(e)(i) Form of Investment Advisory Agreement covering the Money Market Fund*
(ii) Form of Investment Advisory Agreement covering the Government
Securities Fund*
(iii) Form of Investment Advisory Agreement covering the Asset Allocation
Fund*
(iv) Form of Investment Advisory Agreement covering the S&P 500 Index
Fund*
(v) Form of Investment Advisory Agreement covering the REIT Index Fund*
(vi) Form of Investment Advisory Agreement covering the International
Equity Fund*
(vii) Form of Investment Sub-Advisory Agreement with Brinson Partners, Inc.
covering the International Equity Fund**
____________________
* Incorporated by reference to Post-Effective Amendment No. 8 to
Registration Statement on Form N-1A, File Nos. 33-43133 and 811-6422,
filed with the Commission on June 11, 1996.
** Incorporated by reference to Post-Effective Amendment No. 9 to
Registration Statement on Form N-1A, file Nos. 33-43133 and 811-6422,
filed with the Commission on August 23, 1996.
