KPM FUNDS INC
NSAR-A, 1996-02-21
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<PAGE>      PAGE  1
000 A000000 12/31/95
000 C000000 922379
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
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000 J000000 U
001 A000000 KPM FUNDS, INC.
001 B000000 811-8488
001 C000000 4023975777
002 A000000 10250 REGENCY CIRCLE
002 B000000 OMAHA
002 C000000 NE
002 D010000 68114
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
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010 A00AA01 LANCASTER ADMINISTRATIVE SERVICES, INC.
010 B00AA01 801-31689
010 C01AA01 LINCOLN
010 C02AA01 NE
010 C03AA01 68501
010 C04AA01 3000
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 OMAHA
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013 B03AA01 68102
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020 A000003 DAIN BOSWORTH
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020 B000004 34-1391952
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022 A000005 ARBOUR FINANCIAL CORPORATION
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SIGNATURE   THOMAS C. SMITH                              
TITLE       CHAIRMAN            
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Pursuant to Item 601 (c) (2) (i) of Regulations S-K and S-B.
</LEGEND>
<CIK> 0000922379
<NAME> KPM FUNDS, INC.
<SERIES>
   <NUMBER> 2
   <NAME> FIXED INCOME
       
<S>                             <C>
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<FISCAL-YEAR-END>                          JUN-30-1996
<PERIOD-END>                               DEC-31-1995
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Pursuant to Item 601 (c)(2)(i) of Regulations S-K and S-B.
</LEGEND>
<CIK> 0000922379
<NAME> KPM FUNDS, INC
<SERIES>
   <NUMBER> 1
   <NAME> EQUITY PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1996
<PERIOD-END>                               DEC-31-1995
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<INVESTMENTS-AT-VALUE>                        20642285
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</TABLE>


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