<PAGE> PAGE 1
000 A000000 05/31/96
000 C000000 0000893785
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE HANOVER INVESTMENT FUNDS, INC.
001 B000000 811-7328
001 C000000 8008212371
002 A000000 237 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
003 000000 N
004 000000 Y
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 10
007 C010100 1
007 C020100 THE SHORT TERM U.S. GOVERNMENT FUND
007 C030100 Y
007 C010200 2
007 C020200 THE U.S. GOVERNMENT SECURITIES FUND
007 C030200 Y
007 C010300 3
007 C020300 THE TAX FREE INCOME FUND
007 C030300 Y
007 C010400 4
007 C020400 THE NEW YORK TAX FREE INCOME FUND
007 C030400 Y
007 C010500 5
007 C020500 THE BLUE CHIP GROWTH FUND
007 C030500 Y
007 C010600 6
007 C020600 THE SMALL CAPITALIZATION GROWTH FUND
007 C030600 Y
007 C010700 7
007 C020700 THE AMERICAN VALUE FUND
007 C030700 Y
007 C010800 8
007 C020800 THE NEW JERSEY TAX FREE INCOME FUND
007 C030800 Y
007 C010900 9
007 C020900 THE INTERNATIONAL EQUITY FUND
007 C030900 Y
007 C011000 10
007 C021000 THE INTERNATIONAL BOND FUND
<PAGE> PAGE 2
007 C031000 Y
010 A00AA01 FURMAN SELZ LLC
010 B00AA01 8-17741
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10017
010 A00AA02 CHEMICAL BANK
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 10017
011 A00AA01 HANOVER FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-44858
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10017
012 A00AA01 CHEMICAL BANK
012 B00AA01 84-0000000
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10017
012 A00AA02 FURMAN SELZ LLC
012 B00AA02 84-17741
012 C01AA02 NEW YORK
012 C02AA02 NY
012 C03AA02 10017
013 A00AA01 KPMG PEAT MARWICK
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10154
014 A00AA01 FURMAN SELZ LLC
014 B00AA01 8-17741
015 A00AA01 CHEMICAL BANK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10004
015 E03AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 16
019 C00AA00 HANOVERFDS
020 A000001 INSTINET CORP.
020 B000001 13-3443395
020 C000001 30
020 A000002 BEAR STEARNS & CO., INC.
020 B000002 13-3299429
020 C000002 27
020 A000003 CS FIRST BOSTON CORP.
020 B000003 13-5659485
020 C000003 27
020 A000004 SMITH BARNEY INC.
<PAGE> PAGE 3
020 B000004 13-1912900
020 C000004 15
020 A000005 TUCKER ANTHONY
020 C000005 14
020 A000006 PAINEWEBBER INC.
020 B000006 13-2638166
020 C000006 14
020 A000007 DONALD, LUFKIN & JENRETTE SECURITIES CORP.
020 B000007 13-2741729
020 C000007 12
020 A000008 BERNSTEIN (SANFORD) & CO., INC.
020 B000008 13-2625874
020 C000008 12
020 A000009 UST SECURITIES CORP.
020 B000009 22-2413670
020 C000009 11
020 A000010 GLAZER (C.L.) & CO.
020 B000010 22-2370532
020 C000010 11
021 000000 246
022 A000001 BARCLAYS DE ZOETE WEDD SECURITIES, INC.
022 B000001 13-3551367
022 C000001 446434
022 D000001 1495
022 A000002 HSBC SECURITIES, INC.
022 B000002 13-2650272
022 C000002 237776
022 D000002 4154
022 A000003 PAINEWEBBER INC.
022 B000003 13-2638166
022 C000003 124747
022 D000003 2814
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000004 13-5674085
022 C000004 13321
022 D000004 14655
022 A000005 PRUDENTIAL SECURITIES INC.
022 B000005 22-2347336
022 C000005 155
022 D000005 14122
022 A000006 MONTGOMERY SECURITIES
022 B000006 94-1701676
022 C000006 6487
022 D000006 6498
022 A000007 BROWN (ALEX) & SONS INC.
022 B000007 52-1319768
022 C000007 5042
022 D000007 5841
022 A000008 LEHMAN BROTHERS INC.
022 B000008 13-2518466
022 C000008 8948
<PAGE> PAGE 4
022 D000008 1638
022 A000009 SANWA SECURITIES (USA) CO. L.P.
022 B000009 13-3046258
022 C000009 6737
022 D000009 3460
022 A000010 BEAR STEARNS & CO., INC.
022 B000010 13-3299429
022 C000010 8867
022 D000010 1218
023 C000000 892291
023 D000000 83804
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
<PAGE> PAGE 5
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
077 A000000 N
078 000000 N
008 A000101 TEXAS COMMERCE BANK NATIONAL ASSOCIATION
008 B000101 A
008 C000101 801-28663
008 D010101 HOUSTON
008 D020101 TX
008 D030101 77002
028 A010100 2268
028 A020100 0
028 A030100 0
028 A040100 2384
028 B010100 2384
028 B020100 26
028 B030100 0
028 B040100 1631
028 C010100 1226
028 C020100 31
028 C030100 0
028 C040100 1934
028 D010100 2075
028 D020100 27
028 D030100 0
028 D040100 1140
028 E010100 971
028 E020100 29
028 E030100 0
<PAGE> PAGE 6
028 E040100 1924
028 F010100 76
028 F020100 29
028 F030100 0
028 F040100 9740
028 G010100 9000
028 G020100 142
028 G030100 0
028 G040100 18753
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.350
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
055 A000100 Y
055 B000100 N
056 000100 Y
057 000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
<PAGE> PAGE 7
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
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 0
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 N
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 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
<PAGE> PAGE 8
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 9280
071 B000100 18891
071 C000100 8066
071 D000100 115
072 A000100 6
072 B000100 251
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 15
072 G000100 3
072 H000100 0
072 I000100 11
072 J000100 3
072 K000100 0
072 L000100 4
072 M000100 1
072 N000100 7
072 O000100 0
072 P000100 0
072 Q000100 13
072 R000100 2
072 S000100 4
072 T000100 0
072 U000100 7
072 V000100 0
072 W000100 3
072 X000100 73
072 Y000100 40
072 Z000100 218
072AA000100 56
072BB000100 20
072CC010100 0
072CC020100 0
072DD010100 230
072DD020100 0
072EE000100 0
073 A010100 0.2216
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
<PAGE> PAGE 9
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 0
074 M000100 0
074 N000100 0
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 0
074 S000100 0
074 T000100 0
074 U010100 0
074 U020100 0
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 0
074 Y000100 0
075 A000100 0
075 B000100 9908
076 000100 0.00
008 A000201 THE PORTFOLIO GROUP, INC.
008 B000201 A
008 C000201 801-19502
008 D010201 NEW YORK
008 D020201 NY
008 D030201 10020
028 A010200 1134
028 A020200 0
028 A030200 0
028 A040200 1646
028 B010200 3568
028 B020200 11
028 B030200 0
028 B040200 6080
028 C010200 673
028 C020200 13
028 C030200 0
028 C040200 1644
028 D010200 5771
<PAGE> PAGE 10
028 D020200 12
028 D030200 0
028 D040200 1397
028 E010200 1338
028 E020200 11
028 E030200 0
028 E040200 1207
028 F010200 222
028 F020200 11
028 F030200 0
028 F040200 80986
028 G010200 12706
028 G020200 58
028 G030200 0
028 G040200 92960
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.500
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
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
055 A000200 Y
<PAGE> PAGE 11
055 B000200 N
056 000200 Y
057 000200 N
062 A000200 Y
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
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
<PAGE> PAGE 12
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
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 N
070 R020200 N
071 A000200 171485
071 B000200 103862
071 C000200 69696
071 D000200 36
072 A000200 6
072 B000200 2169
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 176
072 G000200 26
072 H000200 0
072 I000200 88
072 J000200 12
072 K000200 0
072 L000200 9
072 M000200 5
072 N000200 9
072 O000200 0
072 P000200 0
072 Q000200 15
072 R000200 11
072 S000200 24
072 T000200 0
072 U000200 5
072 V000200 0
072 W000200 16
072 X000200 396
072 Y000200 96
072 Z000200 1869
072AA000200 1164
072BB000200 54
072CC010200 0
072CC020200 0
072DD010200 1881
072DD020200 0
<PAGE> PAGE 13
072EE000200 0
073 A010200 0.2305
073 A020200 0.0681
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 0
074 M000200 0
074 N000200 0
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 0
074 S000200 0
074 T000200 0
074 U010200 0
074 U020200 0
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 0
074 Y000200 0
075 A000200 0
075 B000200 82427
076 000200 0.00
008 A000301 TEXAS COMMERCE BANK NATIONAL ASSOCIATION
008 B000301 A
008 C000301 801-28663
008 D010301 HOUSTON
008 D020301 TX
008 D030301 77002
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 0
028 E020300 0
028 E030300 0
028 E040300 0
028 F010300 0
028 F020300 0
028 F030300 0
028 F040300 0
028 G010300 0
028 G020300 0
028 G030300 0
028 G040300 0
028 H000300 0
029 000300 N
030 A000300 0
030 B000300 0.00
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 0
033 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.450
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
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
<PAGE> PAGE 15
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 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 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 0.0
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 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
<PAGE> PAGE 16
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 6
072 B000300 0
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 0
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 0
072 Y000300 0
072 Z000300 0
<PAGE> PAGE 17
072AA000300 0
072BB000300 0
072CC010300 0
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 0
074 N000300 0
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 0
074 S000300 0
074 T000300 0
074 U010300 0
074 U020300 0
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 0
074 Y000300 0
075 A000300 0
075 B000300 0
076 000300 0.00
008 A000401 THE PORTFOLIO GROUP, INC.
008 B000401 A
008 C000401 801-19502
008 D010401 NEW YORK
008 D020401 NY
008 D030401 10020
028 A010400 0
<PAGE> PAGE 18
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 0
028 E020400 0
028 E030400 0
028 E040400 0
028 F010400 0
028 F020400 0
028 F030400 0
028 F040400 0
028 G010400 0
028 G020400 0
028 G030400 0
028 G040400 0
028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.500
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
<PAGE> PAGE 19
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
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
062 A000400 Y
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
063 A000400 0
063 B000400 0.0
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
<PAGE> PAGE 20
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 6
072 B000400 0
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 0
072 G000400 0
072 H000400 0
072 I000400 0
072 J000400 0
072 K000400 0
072 L000400 0
072 M000400 0
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 0
072 S000400 0
072 T000400 0
<PAGE> PAGE 21
072 U000400 0
072 V000400 0
072 W000400 0
072 X000400 0
072 Y000400 0
072 Z000400 0
072AA000400 0
072BB000400 0
072CC010400 0
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 0
074 M000400 0
074 N000400 0
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 0
074 S000400 0
074 T000400 0
074 U010400 0
074 U020400 0
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 0
074 Y000400 0
075 A000400 0
075 B000400 0
076 000400 0.00
008 A000501 THE PORTFOLIO GROUP, INC.
<PAGE> PAGE 22
008 B000501 A
008 C000501 801-19502
008 D010501 NEW YORK
008 D020501 NY
008 D030501 10020
028 A010500 1034
028 A020500 141
028 A030500 0
028 A040500 2836
028 B010500 3255
028 B020500 0
028 B030500 0
028 B040500 2987
028 C010500 1125
028 C020500 0
028 C030500 0
028 C040500 1049
028 D010500 8452
028 D020500 0
028 D030500 0
028 D040500 576
028 E010500 938
028 E020500 0
028 E030500 0
028 E040500 633
028 F010500 104
028 F020500 1033
028 F030500 0
028 F040500 60675
028 G010500 14908
028 G020500 1174
028 G030500 0
028 G040500 68756
028 H000500 2
029 000500 Y
030 A000500 0
030 B000500 4.25
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.700
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
<PAGE> PAGE 23
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
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 0
048 K020500 0.000
055 A000500 Y
055 B000500 N
056 000500 Y
057 000500 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
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
<PAGE> PAGE 24
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
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 Y
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 56301
071 B000500 116242
071 C000500 48118
071 D000500 117
072 A000500 6
072 B000500 70
072 C000500 296
072 D000500 0
072 E000500 0
072 F000500 174
072 G000500 19
072 H000500 0
072 I000500 62
072 J000500 11
<PAGE> PAGE 25
072 K000500 0
072 L000500 9
072 M000500 4
072 N000500 9
072 O000500 0
072 P000500 0
072 Q000500 14
072 R000500 7
072 S000500 15
072 T000500 0
072 U000500 5
072 V000500 0
072 W000500 10
072 X000500 339
072 Y000500 90
072 Z000500 117
072AA000500 8419
072BB000500 3418
072CC010500 0
072CC020500 0
072DD010500 312
072DD020500 0
072EE000500 9472
073 A010500 0.0646
073 A020500 0.0413
073 B000500 1.9120
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 0
074 M000500 0
074 N000500 0
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 0
074 S000500 0
074 T000500 0
074 U010500 0
<PAGE> PAGE 26
074 U020500 0
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 0
074 Y000500 0
075 A000500 0
075 B000500 59152
076 000500 0.00
008 A000601 CHEMICAL BANK NEW JERSEY
008 B000601 A
008 C000601 801-000000
008 D010601 NEW YORK
008 D020601 NY
008 D030601 10017
028 A010600 1166
028 A020600 2710
028 A030600 0
028 A040600 909
028 B010600 6330
028 B020600 0
028 B030600 0
028 B040600 271
028 C010600 990
028 C020600 0
028 C030600 0
028 C040600 682
028 D010600 843
028 D020600 0
028 D030600 0
028 D040600 402
028 E010600 155
028 E020600 0
028 E030600 0
028 E040600 324
028 F010600 798
028 F020600 370
028 F030600 0
028 F040600 50486
028 G010600 10282
028 G020600 3080
028 G030600 0
028 G040600 53074
028 H000600 2
029 000600 Y
030 A000600 0
030 B000600 4.25
030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 0
<PAGE> PAGE 27
033 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.750
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
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 0
048 K020600 0.000
055 A000600 Y
055 B000600 N
056 000600 Y
057 000600 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
063 A000600 0
063 B000600 0.0
<PAGE> PAGE 28
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
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 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 32472
071 B000600 74216
071 C000600 34467
071 D000600 94
<PAGE> PAGE 29
072 A000600 6
072 B000600 95
072 C000600 33
072 D000600 0
072 E000600 0
072 F000600 140
072 G000600 14
072 H000600 0
072 I000600 9
072 J000600 16
072 K000600 0
072 L000600 6
072 M000600 2
072 N000600 8
072 O000600 0
072 P000600 0
072 Q000600 14
072 R000600 5
072 S000600 11
072 T000600 0
072 U000600 5
072 V000600 0
072 W000600 8
072 X000600 238
072 Y000600 33
072 Z000600 -77
072AA000600 5417
072BB000600 4866
072CC010600 0
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 3646
073 A010600 0.0000
073 A020600 0.0000
073 B000600 1.0153
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 0
074 D000600 0
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 0
074 M000600 0
074 N000600 0
<PAGE> PAGE 30
074 O000600 0
074 P000600 0
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 0
074 S000600 0
074 T000600 0
074 U010600 0
074 U020600 0
074 V010600 0.00
074 V020600 0.00
074 W000600 0.0000
074 X000600 0
074 Y000600 0
075 A000600 0
075 B000600 44699
076 000600 0.00
008 A000701 VAN DEVENTER & HOCH
008 B000701 A
008 C000701 801-000000
008 D010701 GLENDALE
008 D020701 CA
008 D030701 91203
028 A010700 338
028 A020700 148
028 A030700 0
028 A040700 47
028 B010700 237
028 B020700 0
028 B030700 0
028 B040700 23
028 C010700 162
028 C020700 0
028 C030700 0
028 C040700 509
028 D010700 44
028 D020700 0
028 D030700 0
028 D040700 45
028 E010700 139
028 E020700 0
028 E030700 0
028 E040700 896
028 F010700 20
028 F020700 169
028 F030700 0
028 F040700 8442
028 G010700 940
028 G020700 317
<PAGE> PAGE 31
028 G030700 0
028 G040700 9962
028 H000700 0
029 000700 N
030 A000700 0
030 B000700 0.00
030 C000700 0.00
031 A000700 0
031 B000700 0
032 000700 0
033 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.700
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
<PAGE> PAGE 32
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 Y
066 D000700 N
066 E000700 N
066 F000700 N
066 G000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 N
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 Y
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
<PAGE> PAGE 33
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 899
071 B000700 8579
071 C000700 6541
071 D000700 14
072 A000700 6
072 B000700 29
072 C000700 71
072 D000700 0
072 E000700 0
072 F000700 27
072 G000700 3
072 H000700 0
072 I000700 10
072 J000700 4
072 K000700 0
072 L000700 4
072 M000700 0
072 N000700 5
072 O000700 0
072 P000700 0
072 Q000700 14
072 R000700 1
072 S000700 2
072 T000700 0
072 U000700 5
072 V000700 0
072 W000700 3
072 X000700 78
072 Y000700 30
072 Z000700 52
072AA000700 142
072BB000700 15
072CC010700 0
072CC020700 0
072DD010700 137
072DD020700 0
072EE000700 185
073 A010700 0.1964
073 A020700 0.1278
073 B000700 0.2696
073 C000700 0.0000
074 A000700 0
074 B000700 0
074 C000700 0
074 D000700 0
<PAGE> PAGE 34
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 0
074 M000700 0
074 N000700 0
074 O000700 0
074 P000700 0
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 0
074 S000700 0
074 T000700 0
074 U010700 0
074 U020700 0
074 V010700 0.00
074 V020700 0.00
074 W000700 0.0000
074 X000700 0
074 Y000700 0
075 A000700 0
075 B000700 8759
076 000700 0.00
008 A000801 CHEMICAL BANK NEW JERSEY
008 B000801 A
008 C000801 801-000000
008 D010801 NEW YORK
008 D020801 NY
008 D030801 10017
028 A010800 0
028 A020800 0
028 A030800 0
028 A040800 0
028 B010800 0
028 B020800 0
028 B030800 0
028 B040800 0
028 C010800 0
028 C020800 0
028 C030800 0
028 C040800 0
028 D010800 0
028 D020800 0
028 D030800 0
028 D040800 0
<PAGE> PAGE 35
028 E010800 0
028 E020800 0
028 E030800 0
028 E040800 0
028 F010800 0
028 F020800 0
028 F030800 0
028 F040800 0
028 G010800 0
028 G020800 0
028 G030800 0
028 G040800 0
028 H000800 0
029 000800 N
030 A000800 0
030 B000800 0.00
030 C000800 0.00
031 A000800 0
031 B000800 0
032 000800 0
033 000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.500
048 A010800 0
048 A020800 0.000
048 B010800 0
048 B020800 0.000
048 C010800 0
048 C020800 0.000
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
055 A000800 N
055 B000800 N
056 000800 Y
057 000800 N
<PAGE> PAGE 36
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 0.0
064 A000800 N
064 B000800 N
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 N
070 L010800 N
070 L020800 N
<PAGE> PAGE 37
070 M010800 N
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 0
071 B000800 0
071 C000800 0
071 D000800 0
072 A000800 6
072 B000800 0
072 C000800 0
072 D000800 0
072 E000800 0
072 F000800 0
072 G000800 0
072 H000800 0
072 I000800 0
072 J000800 0
072 K000800 0
072 L000800 0
072 M000800 0
072 N000800 0
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 0
072 S000800 0
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 0
072 X000800 0
072 Y000800 0
072 Z000800 0
072AA000800 0
072BB000800 0
072CC010800 0
072CC020800 0
072DD010800 0
072DD020800 0
072EE000800 0
073 A010800 0.0000
073 A020800 0.0000
<PAGE> PAGE 38
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 0
074 C000800 0
074 D000800 0
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 0
074 L000800 0
074 M000800 0
074 N000800 0
074 O000800 0
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 0
074 S000800 0
074 T000800 0
074 U010800 0
074 U020800 0
074 V010800 0.00
074 V020800 0.00
074 W000800 0.0000
074 X000800 0
074 Y000800 0
075 A000800 0
075 B000800 0
076 000800 0.00
008 A000901 CHEMICAL GLOBAL INVESTORS LIMITED
008 B000901 A
008 C000901 801-000000
008 D010901 LONDON
008 D050901 ENGLAND
008 D060901 EC2Y 5AJ
028 A010900 0
028 A020900 0
028 A030900 0
028 A040900 0
028 B010900 0
028 B020900 0
028 B030900 0
028 B040900 0
028 C010900 0
028 C020900 0
<PAGE> PAGE 39
028 C030900 0
028 C040900 0
028 D010900 0
028 D020900 0
028 D030900 0
028 D040900 0
028 E010900 0
028 E020900 0
028 E030900 0
028 E040900 0
028 F010900 0
028 F020900 0
028 F030900 0
028 F040900 0
028 G010900 0
028 G020900 0
028 G030900 0
028 G040900 0
028 H000900 0
029 000900 N
030 A000900 0
030 B000900 0.00
030 C000900 0.00
031 A000900 0
031 B000900 0
032 000900 0
033 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.850
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
<PAGE> PAGE 40
048 K010900 0
048 K020900 0.000
055 A000900 N
055 B000900 N
056 000900 Y
057 000900 N
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 B000900 N
066 C000900 Y
066 D000900 N
066 E000900 N
066 F000900 N
066 G000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
<PAGE> PAGE 41
070 H010900 Y
070 H020900 N
070 I010900 Y
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 N
070 M010900 Y
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 0
071 B000900 0
071 C000900 0
071 D000900 0
072 A000900 6
072 B000900 0
072 C000900 0
072 D000900 0
072 E000900 0
072 F000900 0
072 G000900 0
072 H000900 0
072 I000900 0
072 J000900 0
072 K000900 0
072 L000900 0
072 M000900 0
072 N000900 0
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 0
072 S000900 0
072 T000900 0
072 U000900 0
072 V000900 0
072 W000900 0
072 X000900 0
072 Y000900 0
<PAGE> PAGE 42
072 Z000900 0
072AA000900 0
072BB000900 0
072CC010900 0
072CC020900 0
072DD010900 0
072DD020900 0
072EE000900 0
073 A010900 0.0000
073 A020900 0.0000
073 B000900 0.0000
073 C000900 0.0000
074 A000900 0
074 B000900 0
074 C000900 0
074 D000900 0
074 E000900 0
074 F000900 0
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 0
074 K000900 0
074 L000900 0
074 M000900 0
074 N000900 0
074 O000900 0
074 P000900 0
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 0
074 S000900 0
074 T000900 0
074 U010900 0
074 U020900 0
074 V010900 0.00
074 V020900 0.00
074 W000900 0.0000
074 X000900 0
074 Y000900 0
075 A000900 0
075 B000900 0
076 000900 0.00
008 A001001 CHEMICAL GLOBAL INVESTORS LIMITED
008 B001001 A
008 C001001 801-000000
008 D011001 LONDON
008 D051001 ENGLAND
008 D061001 EC2Y 5AJ
<PAGE> PAGE 43
028 A011000 0
028 A021000 0
028 A031000 0
028 A041000 0
028 B011000 0
028 B021000 0
028 B031000 0
028 B041000 0
028 C011000 0
028 C021000 0
028 C031000 0
028 C041000 0
028 D011000 0
028 D021000 0
028 D031000 0
028 D041000 0
028 E011000 0
028 E021000 0
028 E031000 0
028 E041000 0
028 F011000 0
028 F021000 0
028 F031000 0
028 F041000 0
028 G011000 0
028 G021000 0
028 G031000 0
028 G041000 0
028 H001000 0
029 001000 N
030 A001000 0
030 B001000 0.00
030 C001000 0.00
031 A001000 0
031 B001000 0
032 001000 0
033 001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.800
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
<PAGE> PAGE 44
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
055 A001000 N
055 B001000 N
056 001000 Y
057 001000 N
062 A001000 Y
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
063 B001000 0.0
064 A001000 N
064 B001000 N
066 A001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 N
070 A021000 N
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
<PAGE> PAGE 45
070 E011000 Y
070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 Y
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 Y
070 L021000 N
070 M011000 Y
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 Y
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 0
071 B001000 0
071 C001000 0
071 D001000 0
072 A001000 6
072 B001000 0
072 C001000 0
072 D001000 0
072 E001000 0
072 F001000 0
072 G001000 0
072 H001000 0
072 I001000 0
072 J001000 0
072 K001000 0
072 L001000 0
072 M001000 0
072 N001000 0
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 0
072 S001000 0
<PAGE> PAGE 46
072 T001000 0
072 U001000 0
072 V001000 0
072 W001000 0
072 X001000 0
072 Y001000 0
072 Z001000 0
072AA001000 0
072BB001000 0
072CC011000 0
072CC021000 0
072DD011000 0
072DD021000 0
072EE001000 0
073 A011000 0.0000
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 0
074 B001000 0
074 C001000 0
074 D001000 0
074 E001000 0
074 F001000 0
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 0
074 K001000 0
074 L001000 0
074 M001000 0
074 N001000 0
074 O001000 0
074 P001000 0
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 0
074 S001000 0
074 T001000 0
074 U011000 0
074 U021000 0
074 V011000 0.00
074 V021000 0.00
074 W001000 0.0000
074 X001000 0
074 Y001000 0
075 A001000 0
075 B001000 0
076 001000 0.00
<PAGE> PAGE 47
SIGNATURE JOHN J. PILEGGI
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> THE SHORT TERM U.S. GOVERNMENT FUND INVESTOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 991
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 251
<OTHER-INCOME> 0
<EXPENSES-NET> 33
<NET-INVESTMENT-INCOME> 218
<REALIZED-GAINS-CURRENT> 36
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 254
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 230
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9000
<NUMBER-OF-SHARES-REDEEMED> 18753
<SHARES-REINVESTED> 142
<NET-CHANGE-IN-ASSETS> (9587)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (811)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 73
<AVERAGE-NET-ASSETS> 9908
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 0.04
<PER-SHARE-DIVIDEND> 0.22
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 9.86
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> THE SHORT TERM U.S. GOVERNMENT FUND ADVISOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 251
<OTHER-INCOME> 0
<EXPENSES-NET> 33
<NET-INVESTMENT-INCOME> 218
<REALIZED-GAINS-CURRENT> 36
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 254
<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> 254
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (811)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 73
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 9.82
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 21
<NAME> THE U.S. GOVERNMENT SECURITIES FUND INVESTOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 8331
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2169
<OTHER-INCOME> 0
<EXPENSES-NET> 300
<NET-INVESTMENT-INCOME> 1869
<REALIZED-GAINS-CURRENT> 1111
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2980
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1881
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12706
<NUMBER-OF-SHARES-REDEEMED> 92930
<SHARES-REINVESTED> 58
<NET-CHANGE-IN-ASSETS> (79067)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1153)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 176
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 396
<AVERAGE-NET-ASSETS> 82419
<PER-SHARE-NAV-BEGIN> 10.18
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> 0.13
<PER-SHARE-DIVIDEND> 0.23
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 10.31
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 22
<NAME> THE U.S. GOVERNMENT SECURITIES FUND ADVISOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 3
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2169
<OTHER-INCOME> 0
<EXPENSES-NET> 300
<NET-INVESTMENT-INCOME> 1869
<REALIZED-GAINS-CURRENT> 1111
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2980
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 30
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2950)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1153)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 176
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 396
<AVERAGE-NET-ASSETS> 8
<PER-SHARE-NAV-BEGIN> 10.18
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 0.13
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 10.31
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 51
<NAME> THE BLUE CHIP GROWTH FUND INVESTOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 4641
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 296
<INTEREST-INCOME> 70
<OTHER-INCOME> 0
<EXPENSES-NET> 249
<NET-INVESTMENT-INCOME> 117
<REALIZED-GAINS-CURRENT> 5001
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5118
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 312
<DISTRIBUTIONS-OF-GAINS> 9466
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14901
<NUMBER-OF-SHARES-REDEEMED> 68684
<SHARES-REINVESTED> 1169
<NET-CHANGE-IN-ASSETS> (57274)
<ACCUMULATED-NII-PRIOR> 181
<ACCUMULATED-GAINS-PRIOR> 4455
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 339
<AVERAGE-NET-ASSETS> 59134
<PER-SHARE-NAV-BEGIN> 13.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.95
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 1.91
<RETURNS-OF-CAPITAL> 12.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 52
<NAME> THE BLUE CHIP GROWTH FUND ADVISOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 5
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 296
<INTEREST-INCOME> 70
<OTHER-INCOME> 0
<EXPENSES-NET> 249
<NET-INVESTMENT-INCOME> 117
<REALIZED-GAINS-CURRENT> 5001
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5118
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 5
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7
<NUMBER-OF-SHARES-REDEEMED> 72
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> 5053
<ACCUMULATED-NII-PRIOR> 181
<ACCUMULATED-GAINS-PRIOR> 4455
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 339
<AVERAGE-NET-ASSETS> 18
<PER-SHARE-NAV-BEGIN> 13.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0.98
<RETURNS-OF-CAPITAL> 12.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 61
<NAME> THE SMALL CAPITALIZATION GROWTH FUND INVESTOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 944
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 33
<INTEREST-INCOME> 95
<OTHER-INCOME> 0
<EXPENSES-NET> 204
<NET-INVESTMENT-INCOME> (76)
<REALIZED-GAINS-CURRENT> 551
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 475
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 875
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 634
<NUMBER-OF-SHARES-REDEEMED> 11232
<SHARES-REINVESTED> 310
<NET-CHANGE-IN-ASSETS> (10688)
<ACCUMULATED-NII-PRIOR> (205)
<ACCUMULATED-GAINS-PRIOR> 3355
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 238
<AVERAGE-NET-ASSETS> 8941
<PER-SHARE-NAV-BEGIN> 11.15
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.12
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 1.02
<RETURNS-OF-CAPITAL> 10.23
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 62
<NAME> THE SMALL CAPITALIZATION GROWTH FUND CBC BENEFIT
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 2530
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 33
<INTEREST-INCOME> 95
<OTHER-INCOME> 0
<EXPENSES-NET> 204
<NET-INVESTMENT-INCOME> (76)
<REALIZED-GAINS-CURRENT> 551
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 475
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 2769
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9646
<NUMBER-OF-SHARES-REDEEMED> 41830
<SHARES-REINVESTED> 2769
<NET-CHANGE-IN-ASSETS> (31709)
<ACCUMULATED-NII-PRIOR> (205)
<ACCUMULATED-GAINS-PRIOR> 3355
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 238
<AVERAGE-NET-ASSETS> 35755
<PER-SHARE-NAV-BEGIN> 11.20
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 0.12
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 1.02
<RETURNS-OF-CAPITAL> 10.26
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 63
<NAME> THE SMALL CAPITALIZATION GROWTH FUND ADVISOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 33
<INTEREST-INCOME> 95
<OTHER-INCOME> 0
<EXPENSES-NET> 204
<NET-INVESTMENT-INCOME> (76)
<REALIZED-GAINS-CURRENT> 551
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 475
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2
<NUMBER-OF-SHARES-REDEEMED> 12
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 465
<ACCUMULATED-NII-PRIOR> (205)
<ACCUMULATED-GAINS-PRIOR> 3355
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 238
<AVERAGE-NET-ASSETS> 3
<PER-SHARE-NAV-BEGIN> 11.15
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0.06
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.92
<RETURNS-OF-CAPITAL> 10.29
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 71
<NAME> THE AMERICAN VALUE FUND INVESTOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 694
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 71
<INTEREST-INCOME> 29
<OTHER-INCOME> 0
<EXPENSES-NET> 48
<NET-INVESTMENT-INCOME> 52
<REALIZED-GAINS-CURRENT> 127
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 137
<DISTRIBUTIONS-OF-GAINS> 185
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 935
<NUMBER-OF-SHARES-REDEEMED> 9957
<SHARES-REINVESTED> 317
<NET-CHANGE-IN-ASSETS> (8848)
<ACCUMULATED-NII-PRIOR> 70
<ACCUMULATED-GAINS-PRIOR> 56
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 78
<AVERAGE-NET-ASSETS> 8759
<PER-SHARE-NAV-BEGIN> 12.11
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 0.19
<PER-SHARE-DIVIDEND> 0.20
<PER-SHARE-DISTRIBUTIONS> 0.27
<RETURNS-OF-CAPITAL> 11.91
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 72
<NAME> THE AMERICAN VALUE FUND ADVISOR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 71
<INTEREST-INCOME> 29
<OTHER-INCOME> 0
<EXPENSES-NET> 48
<NET-INVESTMENT-INCOME> 52
<REALIZED-GAINS-CURRENT> 127
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5
<NUMBER-OF-SHARES-REDEEMED> 5
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 179
<ACCUMULATED-NII-PRIOR> 70
<ACCUMULATED-GAINS-PRIOR> 56
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 78
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 12.11
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.13
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 11.90
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
