BJB INVESTMENT FUNDS
NSAR-A, 1995-06-29
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<PAGE>      PAGE  1
000 A000000 04/30/95
000 C000000 887210
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 BJB INVESTMENT FUNDS
001 B000000 811-6652
001 C000000 2122973940
002 A000000 330 MADISON AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 BJB GLOBAL INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 BJB INTERNATIONAL EQUITY FUND
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
011 A00AA01 FUNDS DISTRIBUTOR, INC
011 B00AA01 8-xxxxxxxx
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 UNIFIED ADVISORS, INC
012 B00AA01 85-xxxxxxx
012 C01AA01 INDIANAPOLIS
012 C02AA01 IN
012 C03AA01 46204
012 C04AA01 1873
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02108
<PAGE>      PAGE  2
014 A00AA01 JULIUS BAER SECURITIES INC.
014 B00AA01 8-11526
014 A00AA02 BANK JULIUS BAER
014 B00AA02 8-xxxxxxxx
014 A00AA03 DELETE
015 A00AA01 INVESTORS BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02111
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 FIRST BOSTON CS
020 C000001      8
020 A000002 MORGAN STANLEY & CO.
020 B000002 13-2655998
020 C000002      8
020 A000003 MORGAN GRENFELL
020 C000003      6
020 A000004 MS SECURITIES INTERNATIONAL
020 C000004      6
020 A000005 JARDINE FLEMING
020 C000005      6
020 A000006 NIKKO SECURITIES
020 C000006      4
020 A000007 NOMURA
020 C000007      3
020 A000008 KERRY SECURITIES
020 C000008      2
020 A000009 JAMES CAPEL
020 C000009      2
020 A000010 BANAMEX
020 C000010      1
021  000000       52
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022 C000001     82739
022 D000001       485
022 A000002 CITIBANK
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022 C000002     18525
022 D000002      8016
022 A000003 MERRILL LYNCH
022 C000003      7227
022 D000003     10357
022 A000004 UNION BANK OF SWITZERLAND
022 C000004      8354
022 D000004      3854
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
<PAGE>      PAGE  3
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022 B000006 13-2642206
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022 C000008      2295
022 D000008      3915
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<PAGE>      PAGE  4
054 C00AA00 Y
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054 L00AA00 Y
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054 O00AA00 Y
077 A000000 N
078  000000 N
008 A000101 JULIUS BAER INVESTMENT MANAGEMENT INC.
008 B000101 A
008 C000101 801-18766
008 D010101 LONDON
008 D050101 UNITED KINGDOM
008 D060101 EC3A7NE
008 A000102 DELETE
010 A000101 INVESTORS BANK & TRUST COMPANY
010 C010101 BOSTON
010 C020101 MA
010 C030101 02111
010 A000102 BANK JULIUS BAER & CO., LTD
010 C010102 NEW YORK
010 C020102 NY
010 C030102 10017
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
070 I020100 N
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070 L020100 Y
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070 Q020100 N
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070 R020100 N
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<PAGE>      PAGE  8
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008 A000201 BANK JULIUS BAER & CO., LTD
008 B000201 A
008 C000201 801-xxxxxx
008 D010201 NEW YORK
008 D020201 NY
008 D030201 10017
010 A000201 INVESTORS BANK & TRUST COMPANY
010 C010201 BOSTON
010 C020201 MA
<PAGE>      PAGE  9
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048 B020200 0.000
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<PAGE>      PAGE  10
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048 I020200 0.000
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048 J020200 0.000
048 K010200        0
048 K020200 0.000
049  000200 N
050  000200 N
051  000200 N
052  000200 N
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053 B000200 Y
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
058 A000200 N
059  000200 Y
060 A000200 Y
060 B000200 Y
061  000200     2500
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062 B000200   0.0
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066 A000200 Y
<PAGE>      PAGE  11
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070 D010200 Y
070 D020200 N
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070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
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070 R020200 N
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<PAGE>      PAGE  12
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SIGNATURE   ROBERT DISCOLO                               
TITLE       CFO                 
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended April 30, 1995
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 11
   <NAME> BJB Global Income Fund Class A
       
<S>                             <C>        
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                               OCT-31-1995
<PERIOD-END>                                    APR-30-1995
<INVESTMENTS-AT-COST>                            17,571,088
<INVESTMENTS-AT-VALUE>                           18,525,210
<RECEIVABLES>                                     1,513,610
<ASSETS-OTHER>                                      634,912
<OTHER-ITEMS-ASSETS>                                 51,987
<TOTAL-ASSETS>                                   20,725,719
<PAYABLE-FOR-SECURITIES>                          1,651,873
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                           161,209
<TOTAL-LIABILITIES>                               1,813,082
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                         20,664,732
<SHARES-COMMON-STOCK>                             1,621,526
<SHARES-COMMON-PRIOR>                             2,564,843
<ACCUMULATED-NII-CURRENT>                            30,648
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                          (2,748,093)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                            965,350
<NET-ASSETS>                                     18,886,016
<DIVIDEND-INCOME>                                         0
<INTEREST-INCOME>                                   762,723
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                      231,684
<NET-INVESTMENT-INCOME>                             531,039
<REALIZED-GAINS-CURRENT>                           (192,879)
<APPREC-INCREASE-CURRENT>                           895,753
<NET-CHANGE-FROM-OPS>                             1,233,913
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                           498,686
<DISTRIBUTIONS-OF-GAINS>                                  0
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                              47,545
<NUMBER-OF-SHARES-REDEEMED>                      (1,017,107)
<SHARES-REINVESTED>                                  26,245
<NET-CHANGE-IN-ASSETS>                           (9,733,162)
<ACCUMULATED-NII-PRIOR>                              (1,697)
<ACCUMULATED-GAINS-PRIOR>                        (2,555,448)
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                                71,011
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                     232,051
<AVERAGE-NET-ASSETS>                             22,005,439
<PER-SHARE-NAV-BEGIN>                                 11.16
<PER-SHARE-NII>                                        0.27
<PER-SHARE-GAIN-APPREC>                                0.48
<PER-SHARE-DIVIDEND>                                  (0.26)
<PER-SHARE-DISTRIBUTIONS>                              0.00
<RETURNS-OF-CAPITAL>                                   0.00
<PER-SHARE-NAV-END>                                   11.65
<EXPENSE-RATIO>                                        2.12
<AVG-DEBT-OUTSTANDING>                                    0
<AVG-DEBT-PER-SHARE>                                   0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended April 30, 1995
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 12
   <NAME> BJB Global Income Fund Class B
       
<S>                             <C>        
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              OCT-31-1995
<PERIOD-END>                                   APR-30-1995
<INVESTMENTS-AT-COST>                           17,571,088
<INVESTMENTS-AT-VALUE>                          18,525,210
<RECEIVABLES>                                    1,513,610
<ASSETS-OTHER>                                     634,912
<OTHER-ITEMS-ASSETS>                                51,987
<TOTAL-ASSETS>                                  20,725,719
<PAYABLE-FOR-SECURITIES>                         1,651,873
<SENIOR-LONG-TERM-DEBT>                                  0
<OTHER-ITEMS-LIABILITIES>                          161,209
<TOTAL-LIABILITIES>                              1,813,082
<SENIOR-EQUITY>                                          0
<PAID-IN-CAPITAL-COMMON>                        20,664,732
<SHARES-COMMON-STOCK>                                2,286
<SHARES-COMMON-PRIOR>                                2,241
<ACCUMULATED-NII-CURRENT>                           30,648
<OVERDISTRIBUTION-NII>                                   0
<ACCUMULATED-NET-GAINS>                         (2,748,093)
<OVERDISTRIBUTION-GAINS>                                 0
<ACCUM-APPREC-OR-DEPREC>                           965,350
<NET-ASSETS>                                        26,621
<DIVIDEND-INCOME>                                        0
<INTEREST-INCOME>                                      870
<OTHER-INCOME>                                           0
<EXPENSES-NET>                                         367
<NET-INVESTMENT-INCOME>                                503
<REALIZED-GAINS-CURRENT>                               234
<APPREC-INCREASE-CURRENT>                              877
<NET-CHANGE-FROM-OPS>                                1,614
<EQUALIZATION>                                           0
<DISTRIBUTIONS-OF-INCOME>                              511
<DISTRIBUTIONS-OF-GAINS>                                 0
<DISTRIBUTIONS-OTHER>                                    0
<NUMBER-OF-SHARES-SOLD>                                  0
<NUMBER-OF-SHARES-REDEEMED>                              0
<SHARES-REINVESTED>                                     45
<NET-CHANGE-IN-ASSETS>                               1,614
<ACCUMULATED-NII-PRIOR>                             (1,697)
<ACCUMULATED-GAINS-PRIOR>                       (2,555,448)
<OVERDISTRIB-NII-PRIOR>                                  0
<OVERDIST-NET-GAINS-PRIOR>                               0
<GROSS-ADVISORY-FEES>                               71,011
<INTEREST-EXPENSE>                                       0
<GROSS-EXPENSE>                                    232,051
<AVERAGE-NET-ASSETS>                                25,248
<PER-SHARE-NAV-BEGIN>                                11.16
<PER-SHARE-NII>                                       0.23
<PER-SHARE-GAIN-APPREC>                               0.48
<PER-SHARE-DIVIDEND>                                 (0.23)
<PER-SHARE-DISTRIBUTIONS>                             0.00
<RETURNS-OF-CAPITAL>                                  0.00
<PER-SHARE-NAV-END>                                  11.64
<EXPENSE-RATIO>                                       2.87
<AVG-DEBT-OUTSTANDING>                                   0
<AVG-DEBT-PER-SHARE>                                  0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended April 30, 1995
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 21
   <NAME> BJB International Equity Fund Class A
       
<S>                             <C>        
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                               OCT-31-1995
<PERIOD-END>                                    APR-30-1995
<INVESTMENTS-AT-COST>                             8,327,791
<INVESTMENTS-AT-VALUE>                            7,217,309
<RECEIVABLES>                                     1,280,156
<ASSETS-OTHER>                                      608,248
<OTHER-ITEMS-ASSETS>                                 19,404
<TOTAL-ASSETS>                                    9,125,117
<PAYABLE-FOR-SECURITIES>                            966,718
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                           285,054
<TOTAL-LIABILITIES>                               1,251,772
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                         13,003,160
<SHARES-COMMON-STOCK>                               825,437
<SHARES-COMMON-PRIOR>                             1,313,043
<ACCUMULATED-NII-CURRENT>                           126,785
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                          (3,914,897)
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                         (1,341,703)
<NET-ASSETS>                                      7,860,958
<DIVIDEND-INCOME>                                   112,410
<INTEREST-INCOME>                                     9,691
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                      141,660
<NET-INVESTMENT-INCOME>                             (19,624)
<REALIZED-GAINS-CURRENT>                         (1,011,006)
<APPREC-INCREASE-CURRENT>                        (1,079,436)
<NET-CHANGE-FROM-OPS>                            (2,110,066)
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                                 0
<DISTRIBUTIONS-OF-GAINS>                                  0
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                              26,300
<NUMBER-OF-SHARES-REDEEMED>                        (513,906)
<SHARES-REINVESTED>                                       0
<NET-CHANGE-IN-ASSETS>                           (6,969,915)
<ACCUMULATED-NII-PRIOR>                             146,420
<ACCUMULATED-GAINS-PRIOR>                        (2,902,682)
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                                51,637
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                     161,625
<AVERAGE-NET-ASSETS>                             10,400,109
<PER-SHARE-NAV-BEGIN>                                 11.30
<PER-SHARE-NII>                                       (0.02)
<PER-SHARE-GAIN-APPREC>                               (1.76)
<PER-SHARE-DIVIDEND>                                   0.00
<PER-SHARE-DISTRIBUTIONS>                              0.00
<RETURNS-OF-CAPITAL>                                   0.00
<PER-SHARE-NAV-END>                                    9.52
<EXPENSE-RATIO>                                        2.75
<AVG-DEBT-OUTSTANDING>                                    0
<AVG-DEBT-PER-SHARE>                                   0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended April 30, 1995
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 22
   <NAME> BJB International Equity Fund Class B
       
<S>                             <C>        
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              OCT-31-1995
<PERIOD-END>                                   APR-30-1995
<INVESTMENTS-AT-COST>                            8,327,791
<INVESTMENTS-AT-VALUE>                           7,217,309
<RECEIVABLES>                                    1,280,156
<ASSETS-OTHER>                                     608,248
<OTHER-ITEMS-ASSETS>                                19,404
<TOTAL-ASSETS>                                   9,125,117
<PAYABLE-FOR-SECURITIES>                           966,718
<SENIOR-LONG-TERM-DEBT>                                  0
<OTHER-ITEMS-LIABILITIES>                          285,054
<TOTAL-LIABILITIES>                              1,251,772
<SENIOR-EQUITY>                                          0
<PAID-IN-CAPITAL-COMMON>                        13,003,160
<SHARES-COMMON-STOCK>                                1,304
<SHARES-COMMON-PRIOR>                                1,304
<ACCUMULATED-NII-CURRENT>                          126,785
<OVERDISTRIBUTION-NII>                                   0
<ACCUMULATED-NET-GAINS>                         (3,914,897)
<OVERDISTRIBUTION-GAINS>                                 0
<ACCUM-APPREC-OR-DEPREC>                        (1,341,703)
<NET-ASSETS>                                        12,387
<DIVIDEND-INCOME>                                      124
<INTEREST-INCOME>                                       11
<OTHER-INCOME>                                           0
<EXPENSES-NET>                                         211
<NET-INVESTMENT-INCOME>                                (11)
<REALIZED-GAINS-CURRENT>                            (1,209)
<APPREC-INCREASE-CURRENT>                           (1,122)
<NET-CHANGE-FROM-OPS>                               (2,342)
<EQUALIZATION>                                           0
<DISTRIBUTIONS-OF-INCOME>                                0
<DISTRIBUTIONS-OF-GAINS>                                 0
<DISTRIBUTIONS-OTHER>                                    0
<NUMBER-OF-SHARES-SOLD>                                  0
<NUMBER-OF-SHARES-REDEEMED>                              0
<SHARES-REINVESTED>                                      0
<NET-CHANGE-IN-ASSETS>                              (2,342)
<ACCUMULATED-NII-PRIOR>                            146,420
<ACCUMULATED-GAINS-PRIOR>                       (2,902,682)
<OVERDISTRIB-NII-PRIOR>                                  0
<OVERDIST-NET-GAINS-PRIOR>                               0
<GROSS-ADVISORY-FEES>                               51,637
<INTEREST-EXPENSE>                                       0
<GROSS-EXPENSE>                                    161,625
<AVERAGE-NET-ASSETS>                                12,913
<PER-SHARE-NAV-BEGIN>                                11.30
<PER-SHARE-NII>                                      (0.06)
<PER-SHARE-GAIN-APPREC>                              (1.74)
<PER-SHARE-DIVIDEND>                                  0.00
<PER-SHARE-DISTRIBUTIONS>                             0.00
<RETURNS-OF-CAPITAL>                                  0.00
<PER-SHARE-NAV-END>                                   9.50
<EXPENSE-RATIO>                                       3.50
<AVG-DEBT-OUTSTANDING>                                   0
<AVG-DEBT-PER-SHARE>                                  0.00
        

</TABLE>


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