<PAGE> PAGE 1
000 B000000 08/31/96
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007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
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008 B00AA01 A
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008 D01AA01 ST LOUIS
008 D02AA01 MO
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010 A00AA01 ERNST ASSET MANAGEMENT CORP
010 B00AA01 8-03018
010 C01AA01 BOSTON
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<PAGE> PAGE 2
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012 A00AA01 BOSTON FINANCIAL DATA SERVICES, INC
012 B00AA01 85-8494
012 C01AA01 BOSTON
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013 A00AA01 COOPERS & LYBRAND, L.L.P.
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014 A00AA01 MAGNA INVESTMENT
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015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE STEVE PARAGGIO
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<CIK> 0000922637
<NAME> THE MAGNA FUNDS
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<NAME> MAGNA GROWTH AND INCOME FUND
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<CIK> 0000922637
<NAME> MAGNA FUNDS
<SERIES>
<NUMBER> 1
<NAME> MAGNA INTERMEDIATE GOV'T BOND FUND
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