<PAGE> PAGE 1
000 A000000 09/30/98
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 7
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 C020700 MONTGOMERY SMALL CAP SYSTEMATIC VALUE FUND
007 C030700 N
007 C010800 8
007 C020800 MONTGOMERY MACRO CAP SYSTMEATIC VALUE FUND
007 C030800 N
007 C010900 9
007 C011000 10
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
011 C03AA01 02109
012 A00AA01 DST SYSTEMS, INC.
<PAGE> PAGE 2
012 B00AA01 84-999
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64141
012 C04AA01 6073
013 A00AA01 PRICEWATERHOUSECOOPERS 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
014 A00AA21 HYPOTHEKENBANK IN ESSEN AG
014 B00AA21 8-99999
<PAGE> PAGE 3
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
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 31
019 C00AA00 MONTGOMERY
020 A000001 MORGAN STANLEY & CO. INC.
020 B000001 13-2655998
020 C000001 111
020 A000002 MERRILL LYNCH PIERCE PENNER & SMITH INC.
020 B000002 13-5674085
020 C000002 78
020 A000003 WARBURG (S.G.), COMPANY
020 B000003 13-3340045
020 C000003 63
020 A000004 FIRST BOSTON CORP.
020 B000004 13-5659485
020 C000004 50
020 A000005 CHEUREIX DE VIRIEU
020 C000005 35
020 A000006 SALOMON BROTHERS
<PAGE> PAGE 4
020 C000006 32
020 A000007 CAPEL (JAMES)
020 C000007 28
020 A000008 FLEMING
020 B000008 52-1488224
020 C000008 26
020 A000009 PHILEO ALLIED SECURITIES
020 C000009 23
020 A000010 GOLDMAN SACHS & CO.
020 B000010 13-5108880
020 C000010 22
021 000000 633
022 A000001 MORGAN STANLEY & CO. INC.
022 B000001 13-2655998
022 C000001 40048
022 D000001 44330
022 A000002 BEAR STEARNS & COMPANY INC.
022 B000002 13-4946705
022 C000002 28829
022 D000002 1445
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003 4855
022 D000003 9458
022 A000004 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
022 B000004 13-5674085
022 C000004 4168
022 D000004 4736
022 A000005 MONTGOMERY SECURITIES
022 B000005 94-1701676
022 C000005 3322
022 D000005 2488
022 A000006 ROBERT STEPHENS
022 C000006 3350
022 D000006 2166
022 A000007 FIRST BOSTON CORP.
022 B000007 13-5659485
022 C000007 3564
022 D000007 515
022 A000008 WARBURG (S.G.), COMPANY
022 B000008 13-3340045
022 C000008 2614
022 D000008 84
022 A000009 MAYER & SCHWEITZER INC.
022 C000009 0
022 D000009 1957
022 A000010 COWEN & CO.
022 C000010 1280
022 D000010 90
023 C000000 175324
023 D000000 74523
<PAGE> PAGE 5
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 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 Y
035 00AA00 10
036 A00AA00 N
036 B00AA00 0
037 00AA00 Y
038 00AA00 6
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 100
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 5
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
<PAGE> PAGE 6
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 N
078 000000 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
008 A000501 MONTGOMERY ASSET MANAGEMENT LLC
<PAGE> PAGE 7
008 B000501 A
008 C000501 801-36790
008 D010501 SAN FRANCISCO
008 D020501 CA
008 D030501 94111
015 A000501 MORGAN STANLEY TRUST
015 B000501 C
015 C010501 NEW YORK
015 C020501 NY
015 C030501 11201
015 E040501 X
028 A010500 3263
028 A020500 0
028 A030500 0
028 A040500 457
028 B010500 6824
028 B020500 0
028 B030500 0
028 B040500 315
028 C010500 8583
028 C020500 0
028 C030500 0
028 C040500 243
028 D010500 13121
028 D020500 0
028 D030500 0
028 D040500 1591
028 E010500 12230
028 E020500 0
028 E030500 0
028 E040500 3117
028 F010500 5264
028 F020500 0
028 F030500 0
028 F040500 1761
028 G010500 49285
028 G020500 0
028 G030500 0
028 G040500 7484
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
<PAGE> PAGE 8
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 Y
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 Y
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 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 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
<PAGE> PAGE 9
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 Y
070 P020500 Y
070 Q010500 Y
070 Q020500 Y
070 R010500 Y
070 R020500 Y
071 A000500 79070
071 B000500 40772
071 C000500 36399
071 D000500 112
072 A000500 6
072 B000500 459
072 C000500 149
072 D000500 0
072 E000500 0
072 F000500 283
072 G000500 13
072 H000500 0
072 I000500 43
072 J000500 62
072 K000500 0
072 L000500 8
072 M000500 3
072 N000500 16
072 O000500 0
072 P000500 177
072 Q000500 0
072 R000500 17
072 S000500 12
072 T000500 27
072 U000500 3
072 V000500 0
072 W000500 70
072 X000500 734
072 Y000500 87
072 Z000500 -39
072AA000500 2473
072BB000500 0
072CC010500 3052
072CC020500 0
072DD010500 0
072DD020500 0
<PAGE> PAGE 10
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 44633
074 B000500 0
074 C000500 197
074 D000500 45
074 E000500 0
074 F000500 49198
074 G000500 20
074 H000500 0
074 I000500 0
074 J000500 7960
074 K000500 55
074 L000500 555
074 M000500 5949
074 N000500 108612
074 O000500 5899
074 P000500 220
074 Q000500 0
074 R010500 0
074 R020500 44040
074 R030500 0
074 R040500 427
074 S000500 0
074 T000500 58026
074 U010500 3179
074 U020500 825
074 V010500 13.44
074 V020500 13.23
074 W000500 0.0000
074 X000500 222
074 Y000500 8055
075 A000500 37570
075 B000500 0
076 000500 0.00
008 A000601 MONTGOMERY ASSET MANAGEMENT LLC
008 B000601 A
008 C000601 801-36790
008 D010601 SAN FRANCISCO
008 D020601 CA
008 D030601 94111
015 A000601 MORGAN STANLEY TRUST
015 B000601 C
015 C010601 NEW YORK
015 C020601 NY
015 C030601 11201
015 E040601 X
028 A010600 276
<PAGE> PAGE 11
028 A020600 0
028 A030600 0
028 A040600 261
028 B010600 2115
028 B020600 0
028 B030600 0
028 B040600 7
028 C010600 154
028 C020600 0
028 C030600 0
028 C040600 556
028 D010600 4085
028 D020600 0
028 D030600 0
028 D040600 167
028 E010600 503
028 E020600 0
028 E030600 0
028 E040600 503
028 F010600 19
028 F020600 0
028 F030600 0
028 F040600 1437
028 G010600 7152
028 G020600 0
028 G030600 0
028 G040600 2931
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 Y
070 Q010600 Y
<PAGE> PAGE 13
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 8581
071 B000600 4557
071 C000600 3099
071 D000600 147
072 A000600 6
072 B000600 20
072 C000600 55
072 D000600 0
072 E000600 0
072 F000600 25
072 G000600 1
072 H000600 0
072 I000600 33
072 J000600 8
072 K000600 0
072 L000600 8
072 M000600 3
072 N000600 18
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 17
072 S000600 12
072 T000600 0
072 U000600 2
072 V000600 0
072 W000600 16
072 X000600 143
072 Y000600 100
072 Z000600 32
072AA000600 0
072BB000600 944
072CC010600 0
072CC020600 1429
072DD010600 0
072DD020600 0
072EE000600 0
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 662
074 C000600 0
074 D000600 0
074 E000600 1014
074 F000600 2404
074 G000600 0
<PAGE> PAGE 14
074 H000600 0
074 I000600 0
074 J000600 243
074 K000600 62
074 L000600 23
074 M000600 1336
074 N000600 5744
074 O000600 1743
074 P000600 16
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 162
074 S000600 0
074 T000600 3823
074 U010600 483
074 U020600 14
074 V010600 7.67
074 V020600 7.89
074 W000600 0.0000
074 X000600 45
074 Y000600 0
075 A000600 4055
075 B000600 0
076 000600 0.00
008 A000701 MONTGOMERY ASSET MANAGMENT LLC
008 B000701 A
008 C000701 801-36790
008 D010701 SAN FRANCISCO
008 D020701 CA
008 D030701 94111
008 A000702 MARTINGALE ASSET MANAGMENT LP
008 B000702 S
008 C000702 801-30067
008 D010702 BOSTON
008 D020702 MA
008 D030702 02116
015 A000701 MORGAN STANLEY TRUST
015 B000701 C
015 C010701 NEW YORK
015 C020701 NY
015 C030701 11201
015 E010701 X
028 A010700 0
028 A020700 0
028 A030700 0
028 A040700 0
028 B010700 0
028 B020700 0
028 B030700 0
<PAGE> PAGE 15
028 B040700 0
028 C010700 0
028 C020700 0
028 C030700 0
028 C040700 0
028 D010700 0
028 D020700 0
028 D030700 0
028 D040700 0
028 E010700 0
028 E020700 0
028 E030700 0
028 E040700 0
028 F010700 515
028 F020700 0
028 F030700 0
028 F040700 0
028 G010700 515
028 G020700 0
028 G030700 0
028 G040700 0
028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.000
048 A010700 250000
048 A020700 1.250
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 250000
048 K020700 1.100
055 A000700 N
055 B000700 N
056 000700 Y
<PAGE> PAGE 16
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
061 000700 2000
066 A000700 Y
066 C000700 Y
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
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 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 Y
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 Y
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 523
071 B000700 22
071 C000700 255
<PAGE> PAGE 17
071 D000700 9
072 A000700 1
072 B000700 1
072 C000700 1
072 D000700 0
072 E000700 0
072 F000700 1
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 0
072 K000700 0
072 L000700 0
072 M000700 0
072 N000700 0
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 1
072 S000700 1
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 1
072 X000700 4
072 Y000700 3
072 Z000700 1
072AA000700 2
072BB000700 0
072CC010700 8
072CC020700 0
072DD010700 0
072DD020700 0
072EE000700 0
073 A010700 0.0000
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 1
074 B000700 10
074 C000700 0
074 D000700 0
074 E000700 0
074 F000700 510
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 22
074 K000700 3
074 L000700 1
074 M000700 0
<PAGE> PAGE 18
074 N000700 547
074 O000700 18
074 P000700 1
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 3
074 S000700 0
074 T000700 525
074 U010700 52
074 U020700 0
074 V010700 10.20
074 V020700 10.19
074 W000700 0.0000
074 X000700 11
074 Y000700 0
075 A000700 517
075 B000700 0
076 000700 0.00
008 A000801 MONTGOMERY ASSET MANAGEMENT LLC
008 B000801 A
008 C000801 801-36790
008 D010801 SAN FRANCISCO
008 D020801 CA
008 D030801 94111
008 A000802 MARTINGLAE ASSET MANAGMEENT LP
008 B000802 S
008 C000802 801-30067
008 D010802 BOSTON
008 D020802 MA
008 D030802 02116
015 A000801 MORGAN STANLEY TURUST
015 B000801 C
015 C010801 NEW YORK
015 C020801 NY
015 C030801 11201
015 E010801 X
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
<PAGE> PAGE 19
028 D020800 0
028 D030800 0
028 D040800 0
028 E010800 0
028 E020800 0
028 E030800 0
028 E040800 0
028 F010800 533
028 F020800 0
028 F030800 0
028 F040800 0
028 G010800 533
028 G020800 0
028 G030800 0
028 G040800 0
028 H000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.000
048 A010800 500000
048 A020800 0.850
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 500000
048 K020800 0.750
055 A000800 N
055 B000800 N
056 000800 Y
057 000800 N
058 A000800 N
059 000800 Y
060 A000800 Y
060 B000800 Y
061 000800 2000
<PAGE> PAGE 20
066 A000800 Y
066 C000800 Y
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 Y
070 G010800 Y
070 G020800 N
070 H010800 Y
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
070 M010800 Y
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 Y
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800 454
071 B000800 0
071 C000800 222
071 D000800 0
072 A000800 1
072 B000800 1
072 C000800 0
072 D000800 0
072 E000800 0
<PAGE> PAGE 21
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 1
072 S000800 1
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 1
072 X000800 3
072 Y000800 2
072 Z000800 1
072AA000800 0
072BB000800 0
072CC010800 0
072CC020800 9
072DD010800 0
072DD020800 0
072EE000800 0
073 A010800 0.0000
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 70
074 C000800 10
074 D000800 0
074 E000800 0
074 F000800 444
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 70
074 K000800 3
074 L000800 1
074 M000800 0
074 N000800 598
074 O000800 70
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
<PAGE> PAGE 22
074 R030800 0
074 R040800 3
074 S000800 0
074 T000800 525
074 U010800 53
074 U020800 0
074 V010800 9.84
074 V020800 9.87
074 W000800 0.0000
074 X000800 11
074 Y000800 0
075 A000800 516
075 B000800 0
076 000800 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 EMERGING MARKETS FOCUS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-1-1998
<PERIOD-END> SEP-30-98
<INVESTMENTS-AT-COST> 5,350,661
<INVESTMENTS-AT-VALUE> 4,079,566
<RECEIVABLES> 328,118
<ASSETS-OTHER> 1,303,531
<OTHER-ITEMS-ASSETS> 33,030
<TOTAL-ASSETS> 5,744,245
<PAYABLE-FOR-SECURITIES> 1,743,244
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177,689
<TOTAL-LIABILITIES> 1,920,933
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,759,522
<SHARES-COMMON-STOCK> 482,783
<SHARES-COMMON-PRIOR> 156,519
<ACCUMULATED-NII-CURRENT> 69,116
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (967,799)
<ACCUM-APPREC-OR-DEPREC> (1,220,192)
<NET-ASSETS> 3,700,639
<DIVIDEND-INCOME> 54,903
<INTEREST-INCOME> 20,376
<OTHER-INCOME> 0
<EXPENSES-NET> 43,175
<NET-INVESTMENT-INCOME> 32,104
<REALIZED-GAINS-CURRENT> (943,995)
<APPREC-INCREASE-CURRENT> (1,429,360)
<NET-CHANGE-FROM-OPS> (2,341,251)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 664,811
<NUMBER-OF-SHARES-REDEEMED> (338,547)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,880,002
<ACCUMULATED-NII-PRIOR> 37,012
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (23,804)
<GROSS-ADVISORY-FEES> 25,410
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 143,496
<AVERAGE-NET-ASSETS> 3,925,370
<PER-SHARE-NAV-BEGIN> 11.43
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> (3.81)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.67
<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> 012
<NAME> MONTGOMERY EMERGING MARKETS FOCUS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-1-1998
<PERIOD-END> SEP-30-98
<INVESTMENTS-AT-COST> 5,350,661
<INVESTMENTS-AT-VALUE> 4,079,566
<RECEIVABLES> 328,118
<ASSETS-OTHER> 1,303,531
<OTHER-ITEMS-ASSETS> 33,030
<TOTAL-ASSETS> 5,744,245
<PAYABLE-FOR-SECURITIES> 1,743,244
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177,689
<TOTAL-LIABILITIES> 1,920,933
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 17,192
<SHARES-COMMON-STOCK> 1,651
<SHARES-COMMON-PRIOR> 22
<ACCUMULATED-NII-CURRENT> 69,116
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (967,799)
<ACCUM-APPREC-OR-DEPREC> (1,220,192)
<NET-ASSETS> 13,019
<DIVIDEND-INCOME> 54,903
<INTEREST-INCOME> 20,376
<OTHER-INCOME> 0
<EXPENSES-NET> 43,175
<NET-INVESTMENT-INCOME> 32,104
<REALIZED-GAINS-CURRENT> (943,995)
<APPREC-INCREASE-CURRENT> (1,429,360)
<NET-CHANGE-FROM-OPS> (2,341,251)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,629
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,880,002
<ACCUMULATED-NII-PRIOR> 37,012
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (23,804)
<GROSS-ADVISORY-FEES> 25,410
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 143,496
<AVERAGE-NET-ASSETS> 6,316
<PER-SHARE-NAV-BEGIN> 11.84
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (3.96)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.89
<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> 013
<NAME> MONTGOMERY EMERGING MARKETS FOCUS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-1-1998
<PERIOD-END> SEP-30-98
<INVESTMENTS-AT-COST> 5,350,661
<INVESTMENTS-AT-VALUE> 4,079,566
<RECEIVABLES> 328,118
<ASSETS-OTHER> 1,303,531
<OTHER-ITEMS-ASSETS> 33,030
<TOTAL-ASSETS> 5,744,245
<PAYABLE-FOR-SECURITIES> 1,743,244
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177,689
<TOTAL-LIABILITIES> 1,920,933
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 165,473
<SHARES-COMMON-STOCK> 13,903
<SHARES-COMMON-PRIOR> 13,008
<ACCUMULATED-NII-CURRENT> 69,116
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (967,799)
<ACCUM-APPREC-OR-DEPREC> (1,220,192)
<NET-ASSETS> 109,654
<DIVIDEND-INCOME> 54,903
<INTEREST-INCOME> 20,376
<OTHER-INCOME> 0
<EXPENSES-NET> 43,175
<NET-INVESTMENT-INCOME> 32,104
<REALIZED-GAINS-CURRENT> (943,995)
<APPREC-INCREASE-CURRENT> (1,429,360)
<NET-CHANGE-FROM-OPS> (2,341,251)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,589
<NUMBER-OF-SHARES-REDEEMED> (25,694)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,880,002
<ACCUMULATED-NII-PRIOR> 37,012
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (23,804)
<GROSS-ADVISORY-FEES> 25,410
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 143,496
<AVERAGE-NET-ASSETS> 122,887
<PER-SHARE-NAV-BEGIN> 11.83
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (3.96)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.89
<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> 011
<NAME> MONTGOMERY GLOBAL LONG-SHORT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 55,819,892
<INVESTMENTS-AT-VALUE> 49,468,892
<RECEIVABLES> 8,569,747
<ASSETS-OTHER> 50,533,160
<OTHER-ITEMS-ASSETS> 40,302
<TOTAL-ASSETS> 108,612,101
<PAYABLE-FOR-SECURITIES> 5,898,857
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44,687,649
<TOTAL-LIABILITIES> 50,586,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40,799,489
<SHARES-COMMON-STOCK> 3,179,036
<SHARES-COMMON-PRIOR> 1,305,087
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (52,982)
<ACCUMULATED-NET-GAINS> 3,008,043
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,698,940)
<NET-ASSETS> 42,734,807
<DIVIDEND-INCOME> 149,004
<INTEREST-INCOME> 458,858
<OTHER-INCOME> 0
<EXPENSES-NET> 646,999
<NET-INVESTMENT-INCOME> (39,097)
<REALIZED-GAINS-CURRENT> 2,472,907
<APPREC-INCREASE-CURRENT> (3,051,891)
<NET-CHANGE-FROM-OPS> (618,081)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,349,352
<NUMBER-OF-SHARES-REDEEMED> (475,403)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 41,183,352
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 535,136
<OVERDISTRIB-NII-PRIOR> (13,885)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282,543
<INTEREST-EXPENSE> 176,575
<GROSS-EXPENSE> 734,077
<AVERAGE-NET-ASSETS> 30,182,477
<PER-SHARE-NAV-BEGIN> 12.70
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 0.75
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.44
<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 GLOBAL LONG-SHORT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 55,819,892
<INVESTMENTS-AT-VALUE> 49,468,892
<RECEIVABLES> 8,569,747
<ASSETS-OTHER> 50,533,160
<OTHER-ITEMS-ASSETS> 40,302
<TOTAL-ASSETS> 108,612,101
<PAYABLE-FOR-SECURITIES> 5,898,857
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44,687,649
<TOTAL-LIABILITIES> 50,586,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,483,693
<SHARES-COMMON-STOCK> 825,388
<SHARES-COMMON-PRIOR> 4,825
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (52,982)
<ACCUMULATED-NET-GAINS> 3,008,043
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,698,940)
<NET-ASSETS> 10,994,216
<DIVIDEND-INCOME> 149,044
<INTEREST-INCOME> 458,858
<OTHER-INCOME> 0
<EXPENSES-NET> 646,999
<NET-INVESTMENT-INCOME> (39,097)
<REALIZED-GAINS-CURRENT> 2,472,907
<APPREC-INCREASE-CURRENT> (3,051,891)
<NET-CHANGE-FROM-OPS> (618,081)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 856,008
<NUMBER-OF-SHARES-REDEEMED> (35,445)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 41,183,352
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 535,136
<OVERDISTRIB-NII-PRIOR> (13,885)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282,543
<INTEREST-EXPENSE> 176,575
<GROSS-EXPENSE> 734,077
<AVERAGE-NET-ASSETS> 5,433,404
<PER-SHARE-NAV-BEGIN> 12.64
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 0.74
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.32
<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 GLOBAL LONG-SHORT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 55,819,892
<INVESTMENTS-AT-VALUE> 49,468,892
<RECEIVABLES> 8,569,747
<ASSETS-OTHER> 50,533,160
<OTHER-ITEMS-ASSETS> 40,302
<TOTAL-ASSETS> 108,612,101
<PAYABLE-FOR-SECURITIES> 5,898,857
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44,687,649
<TOTAL-LIABILITIES> 50,586,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,486,292
<SHARES-COMMON-STOCK> 344,573
<SHARES-COMMON-PRIOR> 17,057
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (52,982)
<ACCUMULATED-NET-GAINS> 3,008,043
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,698,940)
<NET-ASSETS> 4,296,572
<DIVIDEND-INCOME> 149,044
<INTEREST-INCOME> 458,858
<OTHER-INCOME> 0
<EXPENSES-NET> 646,999
<NET-INVESTMENT-INCOME> (39,097)
<REALIZED-GAINS-CURRENT> 2,472,907
<APPREC-INCREASE-CURRENT> (3,051,891)
<NET-CHANGE-FROM-OPS> (618,081)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 360,863
<NUMBER-OF-SHARES-REDEEMED> (33,347)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 41,183,352
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 535,136
<OVERDISTRIB-NII-PRIOR> (13,885)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282,543
<INTEREST-EXPENSE> 176,575
<GROSS-EXPENSE> 734,077
<AVERAGE-NET-ASSETS> 1,953,726
<PER-SHARE-NAV-BEGIN> 11.83
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 0.69
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.47
<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> 011
<NAME> MONTGOMERY MACRO CAP SYS FUND
<S> <C>
<PERIOD-TYPE> 1-MONTH
<FISCAL-YEAR-END> SEP-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 533,433
<INVESTMENTS-AT-VALUE> 524,267
<RECEIVABLES> 73,090
<ASSETS-OTHER> 384
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 597,741
<PAYABLE-FOR-SECURITIES> 70,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,159
<TOTAL-LIABILITIES> 73,159
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 532,980
<SHARES-COMMON-STOCK> 53,321
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 610
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (9,028)
<NET-ASSETS> 524,562
<DIVIDEND-INCOME> 462
<INTEREST-INCOME> 701
<OTHER-INCOME> 0
<EXPENSES-NET> 553
<NET-INVESTMENT-INCOME> 610
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (9,028)
<NET-CHANGE-FROM-OPS> (8,418)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,321
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 524,582
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 349
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,159
<AVERAGE-NET-ASSETS> 515,976
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.18)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.84
<EXPENSE-RATIO> 1.35
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>012
<NAME> MONTGOMERY MACRO CAP SYS FUND
<S> <C>
<PERIOD-TYPE> 1-MONTH
<FISCAL-YEAR-END> SEP-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 533,433
<INVESTMENTS-AT-VALUE> 524,267
<RECEIVABLES> 73,090
<ASSETS-OTHER> 384
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 597,741
<PAYABLE-FOR-SECURITIES> 70,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,159
<TOTAL-LIABILITIES> 73,159
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10
<SHARES-COMMON-STOCK> 1
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 610
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (9,028)
<NET-ASSETS> 10
<DIVIDEND-INCOME> 462
<INTEREST-INCOME> 701
<OTHER-INCOME> 0
<EXPENSES-NET> 553
<NET-INVESTMENT-INCOME> 610
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (9,028)
<NET-CHANGE-FROM-OPS> (8,418)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 524,582
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 349
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,159
<AVERAGE-NET-ASSETS> 10
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (0.14)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.87
<EXPENSE-RATIO> 2.10
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>013
<NAME> MONTGOMERY MACRO CAP SYS FUND
<S> <C>
<PERIOD-TYPE> 1-MONTH
<FISCAL-YEAR-END> SEP-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 533,433
<INVESTMENTS-AT-VALUE> 524,267
<RECEIVABLES> 73,090
<ASSETS-OTHER> 384
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 597,741
<PAYABLE-FOR-SECURITIES> 70,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,159
<TOTAL-LIABILITIES> 73,159
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10
<SHARES-COMMON-STOCK> 1
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 610
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (9,028)
<NET-ASSETS> 10
<DIVIDEND-INCOME> 462
<INTEREST-INCOME> 701
<OTHER-INCOME> 0
<EXPENSES-NET> 553
<NET-INVESTMENT-INCOME> 610
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (9,028)
<NET-CHANGE-FROM-OPS> (8,418)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 524,582
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 349
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,159
<AVERAGE-NET-ASSETS> 10.00
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (0.14)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.87
<EXPENSE-RATIO> 2.10
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> MONTGOMERY SMALL CAP SYS FUND
<S> <C>
<PERIOD-TYPE> 1-MONTH
<FISCAL-YEAR-END> SEP-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 512,913
<INVESTMENTS-AT-VALUE> 520,663
<RECEIVABLES> 25,325
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 816
<TOTAL-ASSETS> 546,804
<PAYABLE-FOR-SECURITIES> 18,026
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,320
<TOTAL-LIABILITIES> 21,346
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 515,090
<SHARES-COMMON-STOCK> 51,502
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 885
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,713
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,750
<NET-ASSETS> 525,438
<DIVIDEND-INCOME> 1,030
<INTEREST-INCOME> 574
<OTHER-INCOME> 0
<EXPENSES-NET> 719
<NET-INVESTMENT-INCOME> 885
<REALIZED-GAINS-CURRENT> 1,713
<APPREC-INCREASE-CURRENT> 7,750
<NET-CHANGE-FROM-OPS> 10,348
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 51,502
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 525,458
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 514
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,321
<AVERAGE-NET-ASSETS> 517,334
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.17
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.20
<EXPENSE-RATIO> 1.75
<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 SMALL CAP SYS FUND
<S> <C>
<PERIOD-TYPE> 1-MONTH
<FISCAL-YEAR-END> SEP-1-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 512,913
<INVESTMENTS-AT-VALUE> 520,663
<RECEIVABLES> 25,325
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 816
<TOTAL-ASSETS> 546,804
<PAYABLE-FOR-SECURITIES> 18,026
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,320
<TOTAL-LIABILITIES> 21,346
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10
<SHARES-COMMON-STOCK> 1
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 885
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,713
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,750
<NET-ASSETS> 10
<DIVIDEND-INCOME> 1,030
<INTEREST-INCOME> 574
<OTHER-INCOME> 0
<EXPENSES-NET> 719
<NET-INVESTMENT-INCOME> 885
<REALIZED-GAINS-CURRENT> 1,713
<APPREC-INCREASE-CURRENT> 7,750
<NET-CHANGE-FROM-OPS> 10,348
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 525,458
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 514
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,321
<AVERAGE-NET-ASSETS> 10
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.17
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.19
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 013
<NAME> MONTGOMERY SMALL CAP SYS FUND
<S> <C>
<PERIOD-TYPE> 1-MONTH
<FISCAL-YEAR-END> SEP-1-98
<PERIOD-END> sEP-30-1998
<INVESTMENTS-AT-COST> 512,913
<INVESTMENTS-AT-VALUE> 520,663
<RECEIVABLES> 25,325
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 816
<TOTAL-ASSETS> 546,804
<PAYABLE-FOR-SECURITIES> 18,026
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,320
<TOTAL-LIABILITIES> 21,346
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10
<SHARES-COMMON-STOCK> 1
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 885
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,713
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,750
<NET-ASSETS> 10
<DIVIDEND-INCOME> 1,030
<INTEREST-INCOME> 574
<OTHER-INCOME> 0
<EXPENSES-NET> 719
<NET-INVESTMENT-INCOME> 885
<REALIZED-GAINS-CURRENT> 1,713
<APPREC-INCREASE-CURRENT> 7,750
<NET-CHANGE-FROM-OPS> 10,348
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 525,458
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 514
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,321
<AVERAGE-NET-ASSETS> 10
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.17
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.19
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
