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<PAGE> PAGE 10
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<PAGE> PAGE 13
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<PAGE> PAGE 16
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<PAGE> PAGE 21
068 A000400 N
068 B000400 N
069 000400 N
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070 A020400 N
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070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
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 Y
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 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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071 B000400 12806
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072 A000400 6
072 B000400 4
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<PAGE> PAGE 22
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<PAGE> PAGE 23
074 T000400 6599
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074 U020400 55
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008 A000501 RESERVE MANAGEMENT COMPANY, INC.
008 B000501 A
008 C000501 801-21972
008 D010501 NEW YORK
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008 D030501 10001
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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066 E000500 N
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067 000500 N
068 A000500 N
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069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
<PAGE> PAGE 26
070 Q020500 N
070 R010500 N
070 R020500 N
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<PAGE> PAGE 27
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008 A000601 RESERVE MANAGEMENT COMPANY, INC.
008 B000601 A
008 C000601 801-21972
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008 D030601 10001
008 D040601 3701
008 A000602 PINNACLE ASSOCIATES, LTD.
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008 D020602 NY
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<PAGE> PAGE 28
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045 000600 Y
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<PAGE> PAGE 29
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<PAGE> PAGE 30
070 J010600 Y
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071 A000600 3062
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<PAGE> PAGE 31
072CC020600 0
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008 A000701 DELETE
008 A000702 DELETE
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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SIGNATURE JAMES FREISEN
TITLE CONTROLLER
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<SERIES>
<NUMBER> 001
<NAME> Reserve Informed Investors Growth Fund
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 002
<NAME> Informed Investors Growth Fund
<S> <C>
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<NET-INVESTMENT-INCOME> (33,944)
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<PER-SHARE-NAV-BEGIN> 12.38
<PER-SHARE-NII> (0.10)
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<EXPENSE-RATIO> 1.57
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 003
<NAME> INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 7,320,594
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<PAID-IN-CAPITAL-COMMON> 8,261,354
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<ACCUMULATED-NII-CURRENT> (149,542)
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<ACCUMULATED-NET-GAINS> (52,415)
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<NET-INVESTMENT-INCOME> (74,098)
<REALIZED-GAINS-CURRENT> 594,390
<APPREC-INCREASE-CURRENT> 5,324,641
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<NUMBER-OF-SHARES-SOLD> 18,244,898
<NUMBER-OF-SHARES-REDEEMED> (21,085,985)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,003,846
<ACCUMULATED-NII-PRIOR> (75,445)
<ACCUMULATED-GAINS-PRIOR> (646,805)
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<GROSS-EXPENSE> 121,030
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<PER-SHARE-NAV-BEGIN> 12.73
<PER-SHARE-NII> (0.08)
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<EXPENSE-RATIO> 1.79
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 004
<NAME> LARGE-CAP GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 18,028,004
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<NET-ASSETS> (313,194)
<DIVIDEND-INCOME> 113,940
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<EXPENSES-NET> 112,081
<NET-INVESTMENT-INCOME> 13,910
<REALIZED-GAINS-CURRENT> 347,401
<APPREC-INCREASE-CURRENT> 316,106
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<NUMBER-OF-SHARES-SOLD> 1,697,532
<NUMBER-OF-SHARES-REDEEMED> (2,459,125)
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<EXPENSE-RATIO> 1.45
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 005
<NAME> SMALL-CAP GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 7,958,104
<INVESTMENTS-AT-VALUE> 13,393,831
<RECEIVABLES> 250,518
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<TOTAL-ASSETS> 0
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 0
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<PAID-IN-CAPITAL-COMMON> 6,170,397
<SHARES-COMMON-STOCK> 301,038
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (59,580)
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<ACCUMULATED-NET-GAINS> 2,084,093
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,435,727
<NET-ASSETS> (301,038)
<DIVIDEND-INCOME> 990
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<OTHER-INCOME> 0
<EXPENSES-NET> 72,124
<NET-INVESTMENT-INCOME> (59,580)
<REALIZED-GAINS-CURRENT> 1,492,643
<APPREC-INCREASE-CURRENT> 3,119,450
<NET-CHANGE-FROM-OPS> 4,552,513
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<NUMBER-OF-SHARES-SOLD> 9,921,464
<NUMBER-OF-SHARES-REDEEMED> (7,103,415)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 7,370,562
<ACCUMULATED-NII-PRIOR> 0
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<EXPENSE-RATIO> 1.54
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 07
<NAME> RESERVE MID-CAP EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 4,593,217
<INVESTMENTS-AT-VALUE> 5,047,326
<RECEIVABLES> 15,553
<ASSETS-OTHER> 271,398
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<PAYABLE-FOR-SECURITIES> 136,322
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 331
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,749,941
<SHARES-COMMON-STOCK> 138,462
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (6,426)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 454,109
<NET-ASSETS> (138,462)
<DIVIDEND-INCOME> 10,283
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<OTHER-INCOME> 0
<EXPENSES-NET> 17,268
<NET-INVESTMENT-INCOME> (6,426)
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 454,109
<NET-CHANGE-FROM-OPS> 447,683
<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 4,987,424
<NUMBER-OF-SHARES-REDEEMED> (237,483)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,197,624
<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 10.00
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<PER-SHARE-NAV-END> 11.07
<EXPENSE-RATIO> 1.40
</TABLE>
