INTERACTIVE INVESTMENTS
NSAR-B, 1998-02-27
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<PAGE>      PAGE  1
000 B000000 12/31/97
000 C000000 0000917124
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 INTERACTIVE INVESTMENTS
001 B000000 811-8268
001 C000000 4082942200
002 A000000 101 PARK CENTER PLAZA, SUITE 1300
002 B000000 SAN JOSE
002 C000000 CA
002 D010000 95113
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 THE TECHNOLOGY VALUE FUND
007 C030100 N
007 C010200  2
007 C020200 THE MEDICAL SPECIALISTS FUND
007 C030200 N
007 C010300  3
007 C020300 THE TECHNOLOGY LEADERS FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 INTERACTIVE RESEARCH ADVISERS, INC.
008 B00AA01 A
008 C00AA01 801-45534
008 D01AA01 SAN JOSE
008 D02AA01 CA
008 D03AA01 95113
010 A00AA01 INTERACTIVE RESEARCH ADVISERS, INC.
010 B00AA01 84-5504
010 C01AA01 SAN JOSE
010 C02AA01 CA
010 C03AA01 95113
010 A00AA02 COUNTRYWIDE FUND SERVICES, INC.
010 B00AA02 84-1093
<PAGE>      PAGE  2
010 C01AA02 CINCINNATI
010 C02AA02 OH
010 C03AA02 45202
010 C04AA02 4094
012 A00AA01 COUNTRYWIDE FUND SERVICES, INC.
012 B00AA01 84-1093
012 C01AA01 CINCINNATI
012 C02AA01 OH
012 C03AA01 45202
012 C04AA01 4094
013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19102
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B00AA01 8-17574
014 A00AA02 NATIONAL FINANCIAL SERVICES CORPORATION
014 B00AA02 8-26740
014 A00AA03 CHARLES SCHWAB & CO., INC.
014 B00AA03 8-16514
014 A00AA04 COUNTRYWIDE INVESTMENTS, INC.
014 B00AA04 8-24674
015 A00AA01 STAR BANK, N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
015 A00AA02 BANKERS TRUST COMPANY
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
015 E01AA02 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 PREFERRED TECHNOLOGY, INC.
020 B000001 94-2804669
020 C000001    252
020 A000002 ROBERTSON, STEPHENS & COMPANY, LLC
020 B000002 94-2524501
020 C000002     12
020 A000003 MONTGOMERY SECURITIES
020 B000003 94-1701676
020 C000003      5
020 A000004 SALOMON SMITH BARNEY INC.
020 B000004 13-1912900
020 C000004      3
020 A000005 HAMBRECHT & QUIST LLC
020 B000005 94-3220292
<PAGE>      PAGE  3
020 C000005      2
020 A000006 VOLPE BROWN WHELAN & COMPANY, LLC
020 B000006 94-3015811
020 C000006      2
020 A000007 DEAN WITTER REYNOLDS INC.
020 B000007 94-1671384
020 C000007      1
020 A000008 UBS SECURITIES LLC
020 B000008 13-3873456
020 C000008      0
020 C000009      0
020 C000010      0
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022 A000001 ROBERTSON, STEPHENS & COMPANY, LLC
022 B000001 94-2524501
022 C000001     59586
022 D000001     17204
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022 B000002 94-1701676
022 C000002     22744
022 D000002     10623
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022 B000003 13-1912900
022 C000003     22594
022 D000003      4800
022 A000004 HAMBRECHT & QUIST LLC
022 B000004 94-3220292
022 C000004     20737
022 D000004      4806
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000005 13-5674085
022 C000005     10332
022 D000005      9364
022 A000006 UBS SECURITIES LLC
022 B000006 13-3873456
022 C000006      8788
022 D000006      2542
022 A000007 VOLPE BROWN WHELAN & COMPANY, LLC
022 B000007 94-3015811
022 C000007      8246
022 D000007      1598
022 A000008 PREFERRED TECHNOLOGY, INC.
022 B000008 94-2804669
022 C000008      7085
022 D000008         0
022 A000009 ROBERT THOMAS SECURITIES, INC.
022 B000009 59-2117008
022 C000009       398
022 D000009         0
022 A000010 DEAN WITTER REYNOLDS INC.
022 B000010 94-1671384
<PAGE>      PAGE  4
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<PAGE>      PAGE  7
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080 A00AA00 FEDERAL INSURANCE COMPANY
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<PAGE>      PAGE  8
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070 F020100 N
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070 H010100 N
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070 I020100 N
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070 J020100 N
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070 L010100 Y
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070 Q010100 N
070 Q020100 N
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070 R020100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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070 G020200 N
070 H010200 N
070 H020200 N
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  14
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SIGNATURE   JOHN F. SPLAIN                               
TITLE       ASSISTANT SECRETARY 
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES> 
   <NUMBER> 1
   <NAME> INTERACTIVE INVESTMENTS - THE TECHNOLOGY VALUE FUND
        
<S>                             <C>
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                      231,676,256
<INVESTMENTS-AT-VALUE>                     195,608,853
<RECEIVABLES>                                3,833,687
<ASSETS-OTHER>                                  17,580
<OTHER-ITEMS-ASSETS>                               801
<TOTAL-ASSETS>                             199,460,921
<PAYABLE-FOR-SECURITIES>                     3,337,439
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,749,939
<TOTAL-LIABILITIES>                          5,087,378
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   233,488,824
<SHARES-COMMON-STOCK>                        7,458,967
<SHARES-COMMON-PRIOR>                        1,316,632
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                    (3,047,878)
<ACCUM-APPREC-OR-DEPREC>                   (36,067,403)
<NET-ASSETS>                               194,373,543
<DIVIDEND-INCOME>                              268,881
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                     (1,927,303)
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<APPREC-INCREASE-CURRENT>                  (38,292,641)
<NET-CHANGE-FROM-OPS>                      (26,155,922)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              26.06
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> INTERACTIVE INVESTMENTS - THE TECHNOLOGY LEADERS FUND
        
<S>                             <C>
<PERIOD-TYPE>                  1-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
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<INVESTMENTS-AT-VALUE>                       3,846,882
<RECEIVABLES>                                  114,308
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-PRIOR>                                0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES> 
   <NUMBER> 2
   <NAME> INTERACTIVE INVESTMENTS - THE MEDICAL SPECIALISTS FUND
        
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</TABLE>


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