<PAGE> PAGE 1
000 B000000 03/31/98
000 C000000 913130
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE MONTGOMERY FUNDS II
001 B000000 811-8064
001 C000000 4152486659
002 A000000 101 CALIFORNIA STREET
002 B000000 SAN FRANCISCO
002 C000000 CA
002 D010000 94111
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C020500 MONTGOMERY GLOBAL LONG-SHORT FUND
007 C030500 N
007 C010600 6
007 C020600 MONTGOMERY EMERGING MARKETS FOCUS FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 MONTGOMERY ASSET MANAGEMENT, LLC
008 B00AA01 A
008 C00AA01 801-36790
008 D01AA01 SAN FRANCISCO
008 D02AA01 CA
008 D03AA01 94111
010 A00AA01 MONTGOMERY ASSET MANAGEMENT, LLC
010 B00AA01 36790
010 C01AA01 SAN FRANCISCO
010 C02AA01 CA
010 C03AA01 94111
011 A00AA01 FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-20518
011 C01AA01 BOSTON
011 C02AA01 MA
<PAGE> PAGE 2
011 C03AA01 02109
012 A00AA01 DST SYSTEMS, INC.
012 B00AA01 84-999
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64141
012 C04AA01 6073
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 SAN FRANCISCO
013 B02AA01 CA
013 B03AA01 94104
014 A00AA01 BANKHAUS BAUER AKTIENGESELLSCHAFT
014 B00AA01 8-99999
014 A00AA02 CAISSE CENTRALE DE REESCOMPRE, S.A.
014 B00AA02 8-99999
014 A00AA03 CCR-GESTION
014 B00AA03 8-99999
014 A00AA04 CB FINANCE COMPANY B.V.
014 B00AA04 8-99999
014 A00AA05 COMMERBANK OVERSEAS FINANCE N.V.
014 B00AA05 8-99999
014 A00AA06 COMDIRECT BANK GMBH
014 B00AA06 8-99999
014 A00AA07 COMMERZ FINANCIAL PRODUCTS GMBH
014 B00AA07 8-99999
014 A00AA08 COMMERZ FINANCIAL PRODUCTS S.A.
014 B00AA08 8-99999
014 A00AA09 COMMERZ FINANCIAL PRODUCTS USA INC.
014 B00AA09 8-99999
014 A00AA10 COMMERZ FUTURES CORPORATION
014 B00AA10 8-99999
014 A00AA11 COMMERZBANK CAPITAL MARKETS CORPORATION
014 B00AA11 8-39399
014 A00AA12 COMMERZBANK EUROPE (IRELAND)
014 B00AA12 8-99999
014 A00AA13 COMMERZBANK EUROPE (IRELAND) FINANCE PLC
014 B00AA13 8-99999
014 A00AA14 COMMERZBANK INTERNATIONAL S.A.
014 B00AA14 8-99999
014 A00AA15 COMMERZBANK U.S. FINANCE, INC.
014 B00AA15 8-99999
014 A00AA16 COMMERZBANK (BUDAPEST) RT.
014 B00AA16 8-99999
014 A00AA17 COMMERZBANK (NEDERLAND) N.V.
014 B00AA17 8-99999
014 A00AA18 COMMERZ (EAST ASIA) LTD.
014 B00AA18 8-99999
014 A00AA19 COMMERZBANK (SOUTH EAST ASIA) LTD.
014 B00AA19 8-99999
014 A00AA20 COMMERZBANK (SWITZERLAND) LTD.
014 B00AA20 8-99999
<PAGE> PAGE 3
014 A00AA21 HYPOTHEKENBANK IN ESSEN AG
014 B00AA21 8-99999
014 A00AA22 INDUGEST S.A.R.L.
014 B00AA22 8-99999
014 A00AA23 RHEINHYP RHEINISCHE HYPOTHEKENBANK AKTIENGESE
014 B00AA23 8-99999
014 A00AA24 VON DER HEYDT-KERSTEN & SOHNE
014 B00AA24 8-99999
014 A00AA25 WOODCOMMERZ N.V.
014 B00AA25 8-99999
014 A00AA26 DEUTSCHE SCHIFFSBANK AKTIENGESELLSCHAFT
014 B00AA26 8-99999
014 A00AA27 BANK ROZWOJU EKSPORTU S.A.
014 B00AA27 8-99999
014 A00AA28 CAPITAL INVESTMENT TRUST CORPORATION
014 B00AA28 8-99999
014 A00AA29 COMMERZ SECURITIES (JAPAN) COMPANY LTD.
014 B00AA29 8-99999
014 A00AA30 HISPANO COMMERZBANK (GIBRALTAR) LTD.
014 B00AA30 8-99999
014 A00AA31 KOREA INTERNATIONAL MERCHANT BANK LTD.
014 B00AA31 8-9999
014 A00AA32 P.T. BANK FINCONESIA
014 B00AA32 8-99999
014 A00AA33 UNIBANCO HOLDINGS S.A.
014 B00AA33 8-99999
014 A00AA34 ABC GESTION
014 B00AA34 8-99999
014 A00AA35 CCR-TITRISATION
014 B00AA35 8-99999
014 A00AA36 WOOD SECURITIES BV
014 B00AA36 8-99999
014 A00AA37 MAM SECURITIES, LLC
014 B00AA37 8-49303
015 A00AA01 MORGAN STANLEY TRUST
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 11201
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 27
019 C00AA00 MONTGOMERY
020 A000001 MORGAN STANLEY & CO. INC.
020 B000001 13-2655998
020 C000001 22
020 A000002 CAPEL (JAMES)
020 B000002 52-1488224
020 C000002 18
020 A000003 MERRILL LYNCH PIERCE FENNER & SMITH INC.
<PAGE> PAGE 4
020 B000003 13-5674085
020 C000003 15
020 A000004 FIRST BOSTON CORP.
020 B000004 13-5659485
020 C000004 13
020 A000005 WARBURG (S.G.), COMPANY
020 B000005 13-3340045
020 C000005 12
020 A000006 FLEMING
020 C000006 10
020 A000007 CHEUREUX DE VIRIEU
020 C000007 5
020 A000008 BEAR STEARNS & COMPANY INC.
020 B000008 13-4946705
020 C000008 4
020 A000009 PARIBAS
020 C000009 4
020 A000010 BARING SECURITIES INC.
020 B000010 04-2455153
020 C000010 3
021 000000 125
022 A000001 BZW SECURITIES INC.
022 B000001 13-3551367
022 C000001 27538
022 D000001 0
022 A000002 BEAR STEARNS & COMPANY INC.
022 B000002 13-4946705
022 C000002 26517
022 D000002 131
022 A000003 MORGAN STANLEY & CO. INC.
022 B000003 13-2655998
022 C000003 12703
022 D000003 2797
022 A000004 CHASE MANHATTAN BANK N.A.
022 B000004 13-2633612
022 C000004 8721
022 D000004 0
022 A000005 PAINE WEBBER INC.
022 B000005 13-2638166
022 C000005 0
022 D000005 1909
022 A000006 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
022 B000006 13-5674085
022 C000006 1015
022 D000006 601
022 A000007 GOLDMAN SACHS & CO.
022 B000007 13-5108880
022 C000007 1096
022 D000007 388
022 A000008 ROBERT STEPHENS
022 C000008 1137
<PAGE> PAGE 5
022 D000008 300
022 A000009 MONTGOMERY SECURITIES
022 B000009 94-1701676
022 C000009 601
022 D000009 589
022 A000010 UNION BANK OF SWITZERLAND
022 C000010 686
022 D000010 38
023 C000000 86459
023 D000000 7585
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 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
027 000000 Y
029 00AA00 Y
030 A00AA00 0
030 B00AA00 5.50
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 Y
035 00AA00 3702
036 A00AA00 Y
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
<PAGE> PAGE 6
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 N
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
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 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 NATIONAL UNION INSURANCE COMPANY
<PAGE> PAGE 7
080 C00AA00 4000
081 A00AA00 Y
081 B00AA00 3
082 A00AA00 Y
082 B00AA00 10
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
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
028 A010500 2562
028 A020500 0
028 A030500 0
028 A040500 30
028 B010500 11512
028 B020500 0
028 B030500 0
028 B040500 299
028 C010500 1472
028 C020500 0
028 C030500 0
028 C040500 248
028 D010500 0
028 D020500 0
028 D030500 0
028 D040500 0
028 E010500 0
028 E020500 0
028 E030500 0
028 E040500 0
028 F010500 0
028 F020500 0
028 F030500 0
028 F040500 0
028 G010500 15546
028 G020500 0
028 G030500 0
028 G040500 577
<PAGE> PAGE 8
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 250000
048 A020500 1.500
048 B010500 0
048 B020500 0.000
048 C010500 0
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 250000
048 K020500 1.250
055 A000500 Y
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 2000
066 A000500 Y
066 C000500 Y
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 Y
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 Y
070 E010500 Y
<PAGE> PAGE 9
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 Y
070 P010500 N
070 P020500 N
070 Q010500 Y
070 Q020500 Y
070 R010500 Y
070 R020500 Y
071 A000500 24743
071 B000500 7848
071 C000500 9314
071 D000500 84
072 A000500 3
072 B000500 21
072 C000500 51
072 D000500 0
072 E000500 0
072 F000500 31
072 G000500 1
072 H000500 0
072 I000500 3
072 J000500 17
072 K000500 0
072 L000500 12
072 M000500 2
072 N000500 8
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 15
072 S000500 1
072 T000500 0
<PAGE> PAGE 10
072 U000500 1
072 V000500 0
072 W000500 18
072 X000500 109
072 Y000500 51
072 Z000500 14
072AA000500 507
072BB000500 0
072CC010500 1353
072CC020500 0
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 6873
074 B000500 0
074 C000500 155
074 D000500 0
074 E000500 296
074 F000500 18920
074 G000500 85
074 H000500 0
074 I000500 0
074 J000500 3049
074 K000500 13
074 L000500 328
074 M000500 489
074 N000500 30208
074 O000500 1414
074 P000500 20
074 Q000500 0
074 R010500 0
074 R020500 8293
074 R030500 65
074 R040500 3574
074 S000500 0
074 T000500 16842
074 U010500 1305
074 U020500 22
074 V010500 12.70
074 V020500 12.63
074 W000500 0.0000
074 X000500 51
074 Y000500 0
075 A000500 8489
075 B000500 0
076 000500 0.00
028 A010600 1091
<PAGE> PAGE 11
028 A020600 0
028 A030600 0
028 A040600 0
028 B010600 500
028 B020600 0
028 B030600 0
028 B040600 0
028 C010600 131
028 C020600 0
028 C030600 0
028 C040600 0
028 D010600 0
028 D020600 0
028 D030600 0
028 D040600 0
028 E010600 0
028 E020600 0
028 E030600 0
028 E040600 0
028 F010600 0
028 F020600 0
028 F030600 0
028 F040600 0
028 G010600 1722
028 G020600 0
028 G030600 0
028 G040600 0
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 500000
048 A020600 1.250
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
<PAGE> PAGE 12
048 J020600 0.000
048 K010600 500000
048 K020600 1.000
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 2000
066 A000600 Y
066 C000600 Y
067 000600 N
068 A000600 N
068 B000600 Y
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 Y
<PAGE> PAGE 13
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 2269
071 B000600 706
071 C000600 1000
071 D000600 71
072 A000600 3
072 B000600 5
072 C000600 38
072 D000600 0
072 E000600 0
072 F000600 4
072 G000600 0
072 H000600 0
072 I000600 3
072 J000600 4
072 K000600 0
072 L000600 12
072 M000600 2
072 N000600 9
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 15
072 S000600 1
072 T000600 0
072 U000600 1
072 V000600 0
072 W000600 2
072 X000600 53
072 Y000600 45
072 Z000600 35
072AA000600 0
072BB000600 23
072CC010600 209
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 0
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 1
074 B000600 190
074 C000600 0
074 D000600 0
074 E000600 197
074 F000600 1551
074 G000600 0
<PAGE> PAGE 14
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 6
074 L000600 94
074 M000600 66
074 N000600 2105
074 O000600 75
074 P000600 8
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 79
074 S000600 0
074 T000600 1943
074 U010600 157
074 U020600 13
074 V010600 11.43
074 V020600 11.84
074 W000600 0.0000
074 X000600 37
074 Y000600 0
075 A000600 1377
075 B000600 0
076 000600 0.00
SIGNATURE KAREN JACOPPO-WOOD
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> MONTGOMERY II GLOBAL LONG-SHORT FUND
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 17,713,988
<INVESTMENTS-AT-VALUE> 19,455,890
<RECEIVABLES> 3,385,354
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,367,087
<TOTAL-ASSETS> 30,208,331
<PAYABLE-FOR-SECURITIES> 1,413,628
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,952,460
<TOTAL-LIABILITIES> 13,366,088
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,713,894
<SHARES-COMMON-STOCK> 1,305,087
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (13,885)
<ACCUMULATED-NET-GAINS> 535,136
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,352,951
<NET-ASSETS> 16,579,476
<DIVIDEND-INCOME> 50,359
<INTEREST-INCOME> 21,368
<OTHER-INCOME> 0
<EXPENSES-NET> 58,188
<NET-INVESTMENT-INCOME> 13,539
<REALIZED-GAINS-CURRENT> 506,608
<APPREC-INCREASE-CURRENT> 1,352,951
<NET-CHANGE-FROM-OPS> 1,873,098
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,351,456
<NUMBER-OF-SHARES-REDEEMED> (46,369)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,842,243
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 31,398
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 108,777
<AVERAGE-NET-ASSETS> 8,461,737
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 2.68
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.70
<EXPENSE-RATIO> 2.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> MONTGOMERY II GLOBAL LONG-SHORT FUND
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 17,713,988
<INVESTMENTS-AT-VALUE> 19,455,890
<RECEIVABLES> 3,385,354
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,367,087
<TOTAL-ASSETS> 30,208,331
<PAYABLE-FOR-SECURITIES> 1,413,628
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,952,460
<TOTAL-LIABILITIES> 13,366,088
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 59,079
<SHARES-COMMON-STOCK> 4,825
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (13,885)
<ACCUMULATED-NET-GAINS> 535,136
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,352,951
<NET-ASSETS> 60,968
<DIVIDEND-INCOME> 50,359
<INTEREST-INCOME> 21,368
<OTHER-INCOME> 0
<EXPENSES-NET> 58,188
<NET-INVESTMENT-INCOME> 13,539
<REALIZED-GAINS-CURRENT> 506,608
<APPREC-INCREASE-CURRENT> 1,352,951
<NET-CHANGE-FROM-OPS> 1,873,098
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,825
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,842,243
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 31,398
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 108,777
<AVERAGE-NET-ASSETS> 7,542
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.00)
<PER-SHARE-GAIN-APPREC> 2.64
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.64
<EXPENSE-RATIO> 3.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 013
<NAME> MONTGOMERY II GLOBAL LONG-SHORT FUND
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 17,713,988
<INVESTMENTS-AT-VALUE> 19,455,890
<RECEIVABLES> 3,385,354
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,367,087
<TOTAL-ASSETS> 30,208,331
<PAYABLE-FOR-SECURITIES> 1,413,628
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,952,460
<TOTAL-LIABILITIES> 13,366,088
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 195,067
<SHARES-COMMON-STOCK> 17,057
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (13,885)
<ACCUMULATED-NET-GAINS> 535,136
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,352,951
<NET-ASSETS> 201,799
<DIVIDEND-INCOME> 50,359
<INTEREST-INCOME> 21,368
<OTHER-INCOME> 0
<EXPENSES-NET> 58,188
<NET-INVESTMENT-INCOME> 13,539
<REALIZED-GAINS-CURRENT> 506,608
<APPREC-INCREASE-CURRENT> 1,352,951
<NET-CHANGE-FROM-OPS> 1,873,098
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,057
<NUMBER-OF-SHARES-REDEEMED> (3,000)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,842,243
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 31,398
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 108,777
<AVERAGE-NET-ASSETS> 19,411
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.00)
<PER-SHARE-GAIN-APPREC> 1.83
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.83
<EXPENSE-RATIO> 3.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> MONTGOMERY EMERGING MKTS FOCUS
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,538,439
<INVESTMENTS-AT-VALUE> 1,937,761
<RECEIVABLES> 94,146
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 66,857
<TOTAL-ASSETS> 2,098,764
<PAYABLE-FOR-SECURITIES> 75,431
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80,023
<TOTAL-LIABILITIES> 155,454
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,575,229
<SHARES-COMMON-STOCK> 156,519
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 37,012
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (23,804)
<ACCUM-APPREC-OR-DEPREC> 209,168
<NET-ASSETS> 1,789,120
<DIVIDEND-INCOME> 37,890
<INTEREST-INCOME> 4,766
<OTHER-INCOME> 0
<EXPENSES-NET> 7,197
<NET-INVESTMENT-INCOME> 35,459
<REALIZED-GAINS-CURRENT> (23,089)
<APPREC-INCREASE-CURRENT> 209,168
<NET-CHANGE-FROM-OPS> 221,538
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 156,519
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,943,310
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,244
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52,141
<AVERAGE-NET-ASSETS> 1,341,132
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 1.16
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.43
<EXPENSE-RATIO> 2.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> MONTGOMERY EMERGING MKTS FOCUS
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,538,439
<INVESTMENTS-AT-VALUE> 1,937,761
<RECEIVABLES> 94,146
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 66,857
<TOTAL-ASSETS> 2,098,764
<PAYABLE-FOR-SECURITIES> 75,431
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80,023
<TOTAL-LIABILITIES> 155,454
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 220
<SHARES-COMMON-STOCK> 22
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 37,012
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (23,804)
<ACCUM-APPREC-OR-DEPREC> 209,168
<NET-ASSETS> 261
<DIVIDEND-INCOME> 37,890
<INTEREST-INCOME> 4,766
<OTHER-INCOME> 0
<EXPENSES-NET> 7,197
<NET-INVESTMENT-INCOME> 35,459
<REALIZED-GAINS-CURRENT> (23,089)
<APPREC-INCREASE-CURRENT> 209,168
<NET-CHANGE-FROM-OPS> 221,538
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,943,310
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,244
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52,141
<AVERAGE-NET-ASSETS> 221
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> 1.59
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.84
<EXPENSE-RATIO> 2.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 023
<NAME> MONTGOMERY EMERGING MKTS FOCUS
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,538,439
<INVESTMENTS-AT-VALUE> 1,937,761
<RECEIVABLES> 94,146
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 66,857
<TOTAL-ASSETS> 2,098,764
<PAYABLE-FOR-SECURITIES> 75,431
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80,023
<TOTAL-LIABILITIES> 155,454
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 145,485
<SHARES-COMMON-STOCK> 13,008
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 37,012
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (23,804)
<ACCUM-APPREC-OR-DEPREC> 209,168
<NET-ASSETS> 153,929
<DIVIDEND-INCOME> 37,890
<INTEREST-INCOME> 4,766
<OTHER-INCOME> 0
<EXPENSES-NET> 7,197
<NET-INVESTMENT-INCOME> 35,459
<REALIZED-GAINS-CURRENT> (23,089)
<APPREC-INCREASE-CURRENT> 209,168
<NET-CHANGE-FROM-OPS> 221,538
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,008
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,943,310
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,244
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52,141
<AVERAGE-NET-ASSETS> 35,748
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 1.57
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.83
<EXPENSE-RATIO> 2.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.0000
</TABLE>
