<PAGE> PAGE 1
000 B000000 10/31/1999
000 C000000 887210
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 JULIUS BAER INVESTMENT FUNDS
001 B000000 811-6652
001 C000000 2122973884
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 JULIUS BAER GLOBAL INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 JULIUS BAER 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 UNIFIED MANAGEMENT CORPORATION
011 B00AA01 8-xxxxxxxx
011 C01AA01 INDIANAPOLIS
011 C02AA01 IN
011 C03AA01 46206
011 C04AA01 6110
012 A00AA01 UNIFIED FUND SERVICES, INC.
012 B00AA01 85-xxxxxxx
012 C01AA01 INDIANAPOLIS
012 C02AA01 IN
012 C03AA01 46206
012 C04AA01 6110
013 A00AA01 KPMG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
<PAGE> PAGE 2
013 B03AA01 02110
013 B04AA01 2371
014 A00AA01 JULIUS BAER SECURITIES INC.
014 B00AA01 8-11526
014 A00AA02 BANK JULIUS BAER
014 B00AA02 8-xxxxxxxx
014 A00AA03 DELETE
014 A00AA04 DELETE
015 A00AA01 INVESTORS BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02116
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 MERRILL LYNCH
020 C000001 55
020 A000002 JULIUS BAER SECURITIES
020 C000002 27
020 A000003 GOLDMAN SACHS
020 C000003 24
020 A000004 ROBERT FLEMING
020 C000004 24
020 A000005 SALOMON SMITH BARNEY
020 C000005 22
020 A000006 ABN AMRO SECURITIES
020 C000006 20
020 A000007 WARBURG DILON REED
020 C000007 18
020 A000008 MORGAN STANLEY & CO. INC
020 C000008 13
020 A000009 TELESIS SECURITIES
020 C000009 8
020 A000010 ING BARING LLC
020 C000010 5
021 000000 225
022 A000001 INVESTORS BANK & TRUST
022 C000001 985593
022 D000001 143
022 A000002 BROWN BROTHERS HARRIMAN & CO
022 C000002 119747
022 D000002 41816
022 A000003 GOLDMAN SACHS
022 C000003 10680
022 D000003 6485
022 A000004 MERRILL LYNCH
022 C000004 6070
022 D000004 4190
022 A000005 J.P. MORGAN
<PAGE> PAGE 3
022 C000005 4054
022 D000005 5808
022 A000006 SALOMON BROTHERS
022 C000006 3574
022 D000006 4537
022 A000007 CREDIT SUISSE FIRST BOSTON
022 C000007 2247
022 D000007 2972
022 A000008 MORGAN STANLEY & CO. INC
022 C000008 1830
022 D000008 1627
022 A000009 BANKERS TRUST
022 C000009 1775
022 D000009 900
022 A000010 LEHMAN BROTHERS
022 C000010 1929
022 D000010 72
023 C000000 1250782
023 D000000 157879
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
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 Y
041 00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
<PAGE> PAGE 4
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INSURANCE CO. OF PITT. PA
080 C00AA00 900
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
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 BANK JULIUS BAER & CO.,LTD
008 B000101 A
008 C000101 801-xxxxxx
008 D010101 NEW YORK
008 D020101 NY
008 D030101 10017
010 A000101 INVESTORS BANK & TRUST COMPANY
010 C010101 BOSTON
010 C020101 MA
010 C030101 02116
024 000100 Y
025 A000101 ABN AMRO SECURITIES
025 C000101 D
025 D000101 833
025 A000102 DELETE
025 D000102 0
025 A000103 DELETE
025 D000103 0
025 A000104 DELETE
025 D000104 0
025 A000105 DELETE
025 D000105 0
<PAGE> PAGE 5
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 671
028 A020100 41
028 A030100 0
028 A040100 1939
028 B010100 905
028 B020100 42
028 B030100 0
028 B040100 1045
028 C010100 6788
028 C020100 65
028 C030100 0
028 C040100 552
028 D010100 528
028 D020100 67
028 D030100 0
028 D040100 255
028 E010100 374
028 E020100 68
028 E030100 0
028 E040100 412
028 F010100 507
028 F020100 70
028 F030100 0
028 F040100 323
028 G010100 9773
028 G020100 353
028 G030100 0
028 G040100 4526
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 43
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.650
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
<PAGE> PAGE 6
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
055 A000100 Y
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 N
060 B000100 N
061 000100 2500
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 7.9
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 9.1
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 12.0
062 N000100 16.7
062 O000100 0.0
062 P000100 24.9
062 Q000100 28.0
062 R000100 0.0
<PAGE> PAGE 7
063 A000100 0
063 B000100 10.6
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 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 26093
071 B000100 22070
071 C000100 16279
071 D000100 136
072 A000100 12
072 B000100 951
<PAGE> PAGE 8
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 112
072 G000100 42
072 H000100 0
072 I000100 20
072 J000100 0
072 K000100 0
072 L000100 11
072 M000100 13
072 N000100 15
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 10
072 S000100 21
072 T000100 43
072 U000100 0
072 V000100 0
072 W000100 6
072 X000100 293
072 Y000100 56
072 Z000100 714
072AA000100 0
072BB000100 114
072CC010100 0
072CC020100 938
072DD010100 574
072DD020100 0
072EE000100 136
073 A010100 0.4100
073 A020100 0.0000
073 B000100 0.0700
073 C000100 0.0000
074 A000100 156
074 B000100 1699
074 C000100 1967
074 D000100 17505
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 249
074 M000100 35
074 N000100 21611
074 O000100 0
074 P000100 0
<PAGE> PAGE 9
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 111
074 S000100 0
074 T000100 21500
074 U010100 1873
074 U020100 0
074 V010100 11.48
074 V020100 0.00
074 W000100 0.0000
074 X000100 21
074 Y000100 0
075 A000100 0
075 B000100 17378
076 000100 0.00
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 Y
085 B000100 N
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
010 C030201 02116
024 000200 N
025 A000201 DELETE
025 D000201 0
025 A000202 DELETE
025 D000202 0
025 A000203 DELETE
025 D000203 0
025 A000204 DELETE
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 2721
028 A020200 0
028 A030200 0
028 A040200 2449
028 B010200 3217
<PAGE> PAGE 10
028 B020200 0
028 B030200 0
028 B040200 1608
028 C010200 4233
028 C020200 0
028 C030200 0
028 C040200 1785
028 D010200 3645
028 D020200 0
028 D030200 0
028 D040200 3736
028 E010200 3350
028 E020200 0
028 E030200 0
028 E040200 2341
028 F010200 4881
028 F020200 0
028 F030200 0
028 F040200 1313
028 G010200 22047
028 G020200 0
028 G030200 0
028 G040200 13232
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 172
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 1.000
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
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
<PAGE> PAGE 11
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 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 Y
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 2500
062 A000200 N
062 B000200 0.0
062 C000200 0.0
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 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 D000200 Y
067 000200 N
068 A000200 N
068 B000200 Y
069 000200 N
070 A010200 Y
070 A020200 Y
<PAGE> PAGE 12
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
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 Y
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 49406
071 B000200 49242
071 C000200 67352
071 D000200 73
072 A000200 12
072 B000200 132
072 C000200 887
072 D000200 0
072 E000200 0
072 F000200 689
072 G000200 235
072 H000200 0
072 I000200 25
072 J000200 0
072 K000200 0
072 L000200 49
072 M000200 13
<PAGE> PAGE 13
072 N000200 17
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 36
072 S000200 98
072 T000200 172
072 U000200 0
072 V000200 0
072 W000200 20
072 X000200 1354
072 Y000200 1
072 Z000200 -334
072AA000200 7480
072BB000200 0
072CC010200 18662
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 1455
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.3900
073 C000200 0.0000
074 A000200 62
074 B000200 10509
074 C000200 0
074 D000200 39
074 E000200 506
074 F000200 72160
074 G000200 0
074 H000200 0
074 I000200 20
074 J000200 4486
074 K000200 0
074 L000200 490
074 M000200 13
074 N000200 88285
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 332
074 S000200 0
074 T000200 87953
074 U010200 4035
074 U020200 0
074 V010200 21.80
074 V020200 0.00
<PAGE> PAGE 14
074 W000200 0.0000
074 X000200 64
074 Y000200 0
075 A000200 0
075 B000200 69181
076 000200 0.00
083 A000200 N
083 B000200 0
084 A000200 N
084 B000200 0
085 A000200 Y
085 B000200 N
SIGNATURE MICHAEL QUAIN
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended October 31,1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Julius Baer Global Income Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 20,000,422
<INVESTMENTS-AT-VALUE> 21,171,325
<RECEIVABLES> 249,130
<ASSETS-OTHER> 156,038
<OTHER-ITEMS-ASSETS> 34,558
<TOTAL-ASSETS> 21,611,051
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 110,866
<TOTAL-LIABILITIES> 110,866
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,540,672
<SHARES-COMMON-STOCK> 1,873,276
<SHARES-COMMON-PRIOR> 1,248,207
<ACCUMULATED-NII-CURRENT> 13,731
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (506,321)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (547,897)
<NET-ASSETS> 21,500,185
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 950,523
<OTHER-INCOME> 0
<EXPENSES-NET> (236,873)
<NET-INVESTMENT-INCOME> 1,187,396
<REALIZED-GAINS-CURRENT> (113,676)
<APPREC-INCREASE-CURRENT> (938,250)
<NET-CHANGE-FROM-OPS> 135,470
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (573,809)
<DISTRIBUTIONS-OF-GAINS> (135,804)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,114,316
<NUMBER-OF-SHARES-REDEEMED> (541,028)
<SHARES-REINVESTED> 51,781
<NET-CHANGE-IN-ASSETS> 6,245,881
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (518,876)
<OVERDISTRIB-NII-PRIOR> (102,745)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 112,462
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 293,302
<AVERAGE-NET-ASSETS> 17,377,994
<PER-SHARE-NAV-BEGIN> 12.22
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> (0.77)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.48)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.48
<EXPENSE-RATIO> 1.36
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended October 31,1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Julius Baer International Equity Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 47,019,712
<INVESTMENTS-AT-VALUE> 83,234,160
<RECEIVABLES> 4,975,327
<ASSETS-OTHER> 13,316
<OTHER-ITEMS-ASSETS> 62,125
<TOTAL-ASSETS> 88,284,928
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 332,257
<TOTAL-LIABILITIES> 332,257
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 54,970,211
<SHARES-COMMON-STOCK> 4,035,406
<SHARES-COMMON-PRIOR> 3,685,359
<ACCUMULATED-NII-CURRENT> 292,967
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,975,370
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25,714,123
<NET-ASSETS> 87,952,671
<DIVIDEND-INCOME> 887,106
<INTEREST-INCOME> 131,784
<OTHER-INCOME> 0
<EXPENSES-NET> (1,352,745)
<NET-INVESTMENT-INCOME> 2,371,635
<REALIZED-GAINS-CURRENT> 7,480,316
<APPREC-INCREASE-CURRENT> 18,661,526
<NET-CHANGE-FROM-OPS> 28,513,477
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,455,339)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,012,216
<NUMBER-OF-SHARES-REDEEMED> (1,722,047)
<SHARES-REINVESTED> 59,878
<NET-CHANGE-IN-ASSETS> 31,234,935
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,289,815
<OVERDISTRIB-NII-PRIOR> (640,399)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 688,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,354,050
<AVERAGE-NET-ASSETS> 69,181,021
<PER-SHARE-NAV-BEGIN> 15.39
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> 6.87
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.39)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.80
<EXPENSE-RATIO> 1.96
</TABLE>
Page 1
Independent Auditors' Report on Internal Accounting Controls
The Board of Trustees
Julius Baer Investment Funds
In planning and performing our audit of the financial statements of Julius Baer
Global Income Fund and Julius Baer International Equity Fund for the year ended
October 31, 1999, we considered its internal control, including control
activities 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
internal control.
The management of Julius Baer Investment Funds is responsible for establishing
and maintaining internal control. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risks that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control 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 one or more
of the internal control components 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 internal control and its
operation, including controls for safeguarding securities, that we consider to
be material weaknesses as defined above.
This report is intended solely for the information and use of management, the
Board of Trustees of Julius Baer Investment Funds and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than those specified parties.
KPMG
December 10, 1999
Boston, Massachusetts
