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000 A000000 06/30/97
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<PAGE> PAGE 2
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013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 COLUMBUS
013 B02AA01 OH
013 B03AA01 43215
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
070 P02AA00 N
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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008 D030201 43017
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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SIGNATURE RICHARD A CLEMENS
TITLE MGR/FINANCIAL REPTG
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<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 15.40<F1>
<EXPENSE-RATIO> 2.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS C SHARES
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000889170
<NAME> THE FLEX-PARTNERS
<SERIES>
<NUMBER> 031
<NAME> UTILITY GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 2468252
<INVESTMENTS-AT-VALUE> 2764872
<RECEIVABLES> 27940
<ASSETS-OTHER> 17067
<OTHER-ITEMS-ASSETS> 6917
<TOTAL-ASSETS> 2816796
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35394
<TOTAL-LIABILITIES> 35394
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2435354
<SHARES-COMMON-STOCK> 74595<F1>
<SHARES-COMMON-PRIOR> 91213<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 160
<ACCUMULATED-NET-GAINS> 49588
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 296620
<NET-ASSETS> 2781402
<DIVIDEND-INCOME> 44873
<INTEREST-INCOME> 3522
<OTHER-INCOME> 0
<EXPENSES-NET> 29286
<NET-INVESTMENT-INCOME> 19109
<REALIZED-GAINS-CURRENT> 49588
<APPREC-INCREASE-CURRENT> 69597
<NET-CHANGE-FROM-OPS> 138294
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9219<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 4741<F1>
<NUMBER-OF-SHARES-REDEEMED> 21903<F1>
<SHARES-REINVESTED> 544<F1>
<NET-CHANGE-IN-ASSETS> (110383)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 60791
<AVERAGE-NET-ASSETS> 1220533<F1>
<PER-SHARE-NAV-BEGIN> 15.09<F1>
<PER-SHARE-NII> 0.11<F1>
<PER-SHARE-GAIN-APPREC> 0.68<F1>
<PER-SHARE-DIVIDEND> 0.11<F1>
<PER-SHARE-DISTRIBUTIONS> 0.00<F1>
<RETURNS-OF-CAPITAL> 0.00<F1>
<PER-SHARE-NAV-END> 15.77<F1>
<EXPENSE-RATIO> 2.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS A SHARES
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000889170
<NAME> THE FLEX-PARTNERS
<SERIES>
<NUMBER> 032
<NAME> UTILITY GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 2468252
<INVESTMENTS-AT-VALUE> 2764872
<RECEIVABLES> 27940
<ASSETS-OTHER> 17067
<OTHER-ITEMS-ASSETS> 6917
<TOTAL-ASSETS> 2816796
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35394
<TOTAL-LIABILITIES> 35394
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2435354
<SHARES-COMMON-STOCK> 103106<F1>
<SHARES-COMMON-PRIOR> 101642<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 160
<ACCUMULATED-NET-GAINS> 49588
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 296620
<NET-ASSETS> 2781402
<DIVIDEND-INCOME> 44873
<INTEREST-INCOME> 3522
<OTHER-INCOME> 0
<EXPENSES-NET> 29286
<NET-INVESTMENT-INCOME> 19109
<REALIZED-GAINS-CURRENT> 49588
<APPREC-INCREASE-CURRENT> 69597
<NET-CHANGE-FROM-OPS> 138294
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 10050<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 13615<F1>
<NUMBER-OF-SHARES-REDEEMED> 12816<F1>
<SHARES-REINVESTED> 665<F1>
<NET-CHANGE-IN-ASSETS> (110383)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 60791
<AVERAGE-NET-ASSETS> 1543411<F1>
<PER-SHARE-NAV-BEGIN> 14.91<F1>
<PER-SHARE-NII> 0.10<F1>
<PER-SHARE-GAIN-APPREC> 0.66<F1>
<PER-SHARE-DIVIDEND> 0.10<F1>
<PER-SHARE-DISTRIBUTIONS> 0.00<F1>
<RETURNS-OF-CAPITAL> 0.00<F1>
<PER-SHARE-NAV-END> 15.57<F1>
<EXPENSE-RATIO> 2.21<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS C SHARES
</FN>
</TABLE>
