MAGNA FUNDS /MA/
NSAR-A, 1995-04-28
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<PAGE>      PAGE  1
000 A000000 02/28/95
000 C000000 922637
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 MAGNA FUNDS
001 B000000 811-8494
001 C000000 6172672525
002 A000000 FOUR COPLEY PLACE, SUITE 110, BOX 84
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 MAGNA INTERMEDIATE GOVERNMENT BOND FUND
007 C030100 N
007 C010200  2
007 C020200 MAGNA GROWTH & INCOME FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
<PAGE>      PAGE  2
007 C012600 26
007 C012700 27
007 C012800 28
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007 C013300 33
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007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
008 A00AA01 MAGNA BANK OF MISSOURI
008 B00AA01 A
008 C00AA01 801-9999
008 D01AA01 ST LOUIS
008 D02AA01 MO
008 D03AA01 63144
010 A00AA01 ERNST ASSET MANAGEMENT CORP
010 B00AA01 8-03018
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
011 A00AA01 ERNST & COMPANY
011 B00AA01 8-03018
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10004
<PAGE>      PAGE  3
011 C04AA01 1478
012 A00AA01 BOSTON FINANCIAL DATA SERVICES, INC
012 B00AA01 85-8494
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02266
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 MGI INVESTMENTS, INC
014 B00AA01 8-34750
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 MERRILL  LYNCH PIERCE FENNER & SMITH
020 B000001 13-5674085
020 C000001      8
020 A000002 KIDDER PEABODY & COMPANY
020 B000002 13-5650440
020 C000002      1
020 A000003 SMITH BARNEY, INC
020 B000003 13-1912900
020 C000003      1
020 A000004 OPPENHEIMER
020 B000004 13-2798343
020 C000004      1
020 A000005 PAINE WEBBER
020 B000005 13-2638166
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       12
022 A000001 STATE STREET BANK & TRUST
022 B000001 D4-1867445
022 C000001    484007
022 D000001         0
022 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000002 13-5674085
022 C000002      3337
022 D000002      1687
022 A000003 STEPHENS, INC
<PAGE>      PAGE  4
022 C000003      3000
022 D000003         0
022 A000004 FIRST ST LOUIS SECURITIES
022 B000004 43-1353860
022 C000004         0
022 D000004      2214
022 A000005 OPPENHEIMER
022 B000005 13-2798343
022 C000005      1255
022 D000005       868
022 A000006 SMITH BARNEY
022 B000006 13-1912900
022 C000006      1500
022 D000006         0
022 A000007 MESIROW
022 C000007         0
022 D000007      1131
022 A000008 HSBC SECURITIES
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022 D000008         0
022 A000009 SANWA BANK
022 B000009 13-3046258
022 C000009       994
022 D000009         0
022 C000010         0
022 D000010         0
023 C000000     497882
023 D000000       7467
024  00AA00 N
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025 D00AA02       0
025 D00AA03       0
025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
025 D00AA07       0
025 D00AA08       0
026 A000000 N
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029  00AA00 Y
030 A00AA00      5
030 B00AA00  4.00
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<PAGE>      PAGE  5
031 A00AA00      5
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036 B00AA00      0
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039  00AA00 N
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042 B00AA00   0
042 C00AA00   0
042 D00AA00   0
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
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044  00AA00      0
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
<PAGE>      PAGE  6
060 B00AA00 Y
061  00AA00      250
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
078  000000 N
028 A010100     46852
028 A020100         0
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028 B010100       603
028 B020100        95
028 B030100         0
028 B040100      2199
028 C010100      1157
028 C020100        49
028 C030100         0
<PAGE>      PAGE  7
028 C040100        91
028 D010100      2118
028 D020100        49
028 D030100         0
028 D040100       440
028 E010100      1128
028 E020100        48
028 E030100         0
028 E040100       676
028 F010100       728
028 F020100        50
028 F030100         0
028 F040100       444
028 G010100     52586
028 G020100       291
028 G030100         0
028 G040100      4733
028 H000100         0
045  000100 Y
046  000100 N
047  000100 Y
048  000100  0.500
048 A010100        0
048 A020100 0.000
048 B010100        0
048 B020100 0.000
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
048 E010100        0
048 E020100 0.000
048 F010100        0
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048 G010100        0
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048 I010100        0
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048 K020100 0.000
062 A000100 Y
062 B000100   0.0
062 C000100   0.0
062 D000100   6.0
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
<PAGE>      PAGE  8
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
062 M000100  15.0
062 N000100  51.0
062 O000100   0.0
062 P000100  28.0
062 Q000100   0.0
062 R000100   0.0
063 A000100   0
063 B000100  6.8
064 A000100 N
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
071 A000100     53872
071 B000100      8467
071 C000100     36279
071 D000100   23
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072 J000100       32
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072 L000100        5
072 M000100        9
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072 P000100        0
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072 T000100       55
072 U000100        8
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072 Y000100       74
072 Z000100     1350
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<PAGE>      PAGE  9
072BB000100      393
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072DD010100     1351
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072EE000100        0
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073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
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074 B000100     2670
074 C000100        0
074 D000100    44782
074 E000100        0
074 F000100        0
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074 I000100        0
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074 L000100      906
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074 N000100    48447
074 O000100      500
074 P000100       94
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074 R020100        0
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074 R040100      236
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074 W000100   0.0000
074 X000100      921
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075 B000100    44579
076  000100     0.00
083 A000100 N
083 B000100        0
084 A000100 N
084 B000100        0
085 A000100 Y
085 B000100 N
028 A010200     23557
028 A020200         0
<PAGE>      PAGE  10
028 A030200         0
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028 B020200         0
028 B030200         0
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028 C010200       943
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028 G010200     26121
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045  000200 Y
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<PAGE>      PAGE  11
048 K010200        0
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062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
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062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200  0.0
064 A000200 N
064 B000200 N
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
071 A000200     23805
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<PAGE>      PAGE  12
072 M000200        5
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073 A020200   0.0000
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074 O000200      357
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074 R020200        0
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074 S000200        0
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074 U010200     1995
074 U020200        0
074 V010200    12.54
<PAGE>      PAGE  13
074 V020200     0.00
074 W000200   0.0000
074 X000200      506
074 Y000200        0
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075 B000200    23157
076  000200     0.00
083 A000200 N
083 B000200        0
084 A000200 N
084 B000200        0
085 A000200 Y
085 B000200 N
SIGNATURE   STEVE PARAGGIO                               
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000922637
<NAME> MAGNA FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> MAGNA INTERMEDIATE GOVERNMENT BOND FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1995
<PERIOD START>                             SEP-01-1994
<PERIOD-END>                               FEB-28-1995
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                          3867787
<SHARES-COMMON-PRIOR>                                0
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1351009)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-REDEEMED>                  (4732665)
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 317005
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<PER-SHARE-NAV-BEGIN>                            12.50
<PER-SHARE-NII>                                   0.35
<PER-SHARE-GAIN-APPREC>                         (0.19)
<PER-SHARE-DIVIDEND>                            (0.35)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.31
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<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000922637
<NAME> MAGNA FUNDS
<SERIES>
   <NUMBER> 2
   <NAME> MAGNA GROWTH & INCOME FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1995
<PERIOD-START>                             SEP-01-1994
<PERIOD-END>                               FEB-28-1995
<INVESTMENTS-AT-COST>                         24718262
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<OTHER-ITEMS-LIABILITIES>                        81395
<TOTAL-LIABILITIES>                             438310
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      24852671
<SHARES-COMMON-STOCK>                          1994506
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           87566
<ACCUMULATED-NET-GAINS>                       (202283)
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<NET-CHANGE-FROM-OPS>                           349874
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (160355)
<DISTRIBUTIONS-OF-GAINS>                       (34141)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       26121398
<NUMBER-OF-SHARES-REDEEMED>                  (1387276)
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<PER-SHARE-NAV-BEGIN>                            12.50
<PER-SHARE-NII>                                   0.12
<PER-SHARE-GAIN-APPREC>                           0.02
<PER-SHARE-DIVIDEND>                            (0.08)
<PER-SHARE-DISTRIBUTIONS>                       (0.02)
<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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