CUFUND
NSAR-A, 1997-01-29
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<PAGE>      PAGE  1
000 A000000 11/30/96
000 C000000 0000881636
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001 A000000 CUFUND
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002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
010 A00AA01 SEI FUND RESOURCES CORPORATION
010 B00AA01 0000
010 C01AA01 WAYNE
010 C02AA01 PA
010 C03AA01 19087
010 C04AA01 1658
022 A000001 MERRILL LYNCH
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<PAGE>      PAGE  2
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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SIGNATURE   STEVE MEYER                                  
TITLE       CONTROLLER          
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000881636
<NAME> CUFUND
<SERIES>
   <NUMBER> 011
   <NAME> SHORT TERM MATURITY PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-START>                             JUN-01-1996
<PERIOD-END>                               NOV-30-1996
<INVESTMENTS-AT-COST>                            29850
<INVESTMENTS-AT-VALUE>                           29757
<RECEIVABLES>                                      147
<ASSETS-OTHER>                                      54
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   29958
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          142
<TOTAL-LIABILITIES>                                142
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         30661
<SHARES-COMMON-STOCK>                             3027
<SHARES-COMMON-PRIOR>                             3140
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             (2)
<ACCUMULATED-NET-GAINS>                          (750)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          (93)
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<OTHER-INCOME>                                       0
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<DISTRIBUTIONS-OF-INCOME>                        (799)
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<PER-SHARE-NAV-BEGIN>                             9.76
<PER-SHARE-NII>                                    .26
<PER-SHARE-GAIN-APPREC>                            .09
<PER-SHARE-DIVIDEND>                             (.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.85
<EXPENSE-RATIO>                                    .40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000881636
<NAME> CUFUND
<SERIES>
   <NUMBER> 021
   <NAME> ADJUSTABLE RATE PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-START>                             JUN-01-1996
<PERIOD-END>                               NOV-30-1996
<INVESTMENTS-AT-COST>                           148036
<INVESTMENTS-AT-VALUE>                          148361
<RECEIVABLES>                                      828
<ASSETS-OTHER>                                       5
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  149194
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          766
<TOTAL-LIABILITIES>                                766
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        148805
<SHARES-COMMON-STOCK>                            14848
<SHARES-COMMON-PRIOR>                            15431
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                            (16)
<ACCUMULATED-NET-GAINS>                          (686)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           325
<NET-ASSETS>                                    148428
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 4530
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (287)
<NET-INVESTMENT-INCOME>                           4243
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (4236)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                      (613)
<SHARES-REINVESTED>                                 30
<NET-CHANGE-IN-ASSETS>                          (5332)
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<OVERDISTRIB-NII-PRIOR>                           (23)
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<AVERAGE-NET-ASSETS>                            149624
<PER-SHARE-NAV-BEGIN>                             9.96
<PER-SHARE-NII>                                    .28
<PER-SHARE-GAIN-APPREC>                            .04
<PER-SHARE-DIVIDEND>                             (.28)
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<EXPENSE-RATIO>                                    .38
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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