CAPSTONE FIXED INCOME SERIES INC
NSAR-A, 1999-07-30
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<PAGE>      PAGE  1
000 A000000 05/31/1999
000 C000000 0000092500
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 CAPSTONE FIXED INCOME SERIES, INC.
001 B000000 811-1597
001 C000000 7132609053
002 A000000 5847 SAN FELIPE, SUITE 4100
002 B000000 HOUSTON
002 C000000 TX
002 D010000 77057
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
007 C010100  1
007 C020100 CAPSTONE GOVERNMENT INCOME FUND
007 C030100 N
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 CAPSTONE ASSET MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-17695
008 D01AA01 HOUSTON
008 D02AA01 TX
008 D03AA01 77002
010 A00AA01 CAPSTONE ASSET MANAGEMENT COMPANY
010 B00AA01 801-17695
010 C01AA01 HOUSTON
010 C02AA01 TX
010 C03AA01 77057
011 A00AA01 CAPSTONE ASSET PLANNING COMPANY
011 B00AA01 8-30994
011 C01AA01 HOUSTON
011 C02AA01 TX
011 C03AA01 77001
011 C04AA01 0849
<PAGE>      PAGE  2
012 A00AA01 FIRST DATA SERVICES, INC.
012 B00AA01 84-932
012 C01AA01 KING OF PRUSSIA
012 C02AA01 PA
012 C03AA01 19406
012 C04AA01 0903
013 A00AA01 BRIGGS, BUNTING & DOUGHERTY, LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 CAPSTONE ASSET PLANNING COMPANY
014 B00AA01 8-30994
015 A00AA01 FIFTH THIRD BANK, N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45263
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    8
019 C00AA00 CAPSFAMILY
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020 C000008      0
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020 C000010      0
021  000000        0
022 A000001 FIRST BOSTON CORPORATION (THE)
022 B000001 13-5659485
022 C000001    347939
022 D000001         0
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000002 13-5674085
022 C000002     54492
022 D000002      3990
022 A000003 MORGAN KEEGAN
022 C000003     12478
022 D000003      9797
022 A000004 FUJI SECURITIES
022 C000004     10182
022 D000004     11296
022 A000005 THE FIFTH THIRD BANK
022 B000005 31-0961761
022 C000005      2460
022 D000005         0
<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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080 A00AA00 NATIONAL UNION FIRE INS CO OF PITTSBURGH,PA
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<PAGE>      PAGE  9
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SIGNATURE   STEVE MCCABE
TITLE       FILING AGENT


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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000092500
<NAME> CAPSTONE FIXED INCOME SERIES, INC.

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-END>                               MAY-31-1999
<INVESTMENTS-AT-COST>                         14197401
<INVESTMENTS-AT-VALUE>                        14175079
<RECEIVABLES>                                   133897
<ASSETS-OTHER>                                   98673
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                14407649
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        45234
<TOTAL-LIABILITIES>                              45234
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      20955931
<SHARES-COMMON-STOCK>                           579443
<SHARES-COMMON-PRIOR>                           806745
<ACCUMULATED-NII-CURRENT>                       135111
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (6706305)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (22322)
<NET-ASSETS>                                  14362415
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               268359
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   93806
<NET-INVESTMENT-INCOME>                         174553
<REALIZED-GAINS-CURRENT>                         12392
<APPREC-INCREASE-CURRENT>                      (29227)
<NET-CHANGE-FROM-OPS>                           157718
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       159766
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         416332
<NUMBER-OF-SHARES-REDEEMED>                     649898
<SHARES-REINVESTED>                               6264
<NET-CHANGE-IN-ASSETS>                       (6021799)
<ACCUMULATED-NII-PRIOR>                        1190987
<ACCUMULATED-GAINS-PRIOR>                    (6718697)
<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                            21849
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  93806
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<PER-SHARE-NAV-BEGIN>                            25.27
<PER-SHARE-NII>                                    .36
<PER-SHARE-GAIN-APPREC>                          (.02)
<PER-SHARE-DIVIDEND>                               .82
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              24.79
<EXPENSE-RATIO>                                   1.72
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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