<PAGE> PAGE 1
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007 C020300 THE BALANCED FUND
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007 C010400 4
007 C020400 THE GROWTH FUND
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007 C010500 5
007 C020500 THE MIDCAP FUND
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007 C010600 6
007 C020600 THE INTERNATIONAL EQUITY FUND
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007 C010700 7
007 C020700 THE NATIONAL TAX-FREE BOND FUND
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<PAGE> PAGE 2
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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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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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008 A000402 COMMERCE BANK, N.A. (KANSAS CITY)
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014 A000401 GOLDMAN, SACHS & CO.
014 B000401 8-16048
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014 B000402 8-00000
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015 B000401 C
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015 C030401 02110
015 E010401 X
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025 B000402 13-5674085
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<PAGE> PAGE 21
025 D000407 0
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<PAGE> PAGE 22
048 E010400 0
048 E020400 0.000
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048 F020400 0.000
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048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000
062 A000400 N
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066 A000400 Y
066 B000400 N
066 C000400 N
<PAGE> PAGE 23
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 157314
071 B000400 83224
071 C000400 263194
071 D000400 32
072 A000400 12
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072 C000400 3851
<PAGE> PAGE 24
072 D000400 0
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<PAGE> PAGE 25
074 R010400 0
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008 A000501 COMMERCE BANK, N.A. (ST. LOUIS)
008 B000501 A
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008 A000502 COMMERCE BANK, N.A. (KANSAS CITY)
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014 A000501 GOLDMAN, SACHS & CO.
014 B000501 8-16048
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014 B000502 8-00000
014 A000503 COMMERCE BROKERAGE SERVICE,INC.
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015 A000501 STATE STREET BANK AND TRUST COMPANY
015 B000501 C
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015 C020501 MA
015 C030501 02110
015 E010501 X
024 000500 Y
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<PAGE> PAGE 26
025 D000505 0
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<PAGE> PAGE 27
048 D010500 0
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049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
062 A000500 N
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<PAGE> PAGE 28
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
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070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 Y
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 96616
071 B000500 77147
071 C000500 87025
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<PAGE> PAGE 29
072 B000500 87
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<PAGE> PAGE 30
074 P000500 89
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008 A000601 COMMERCE BANK, N.A. (ST. LOUIS)
008 B000601 A
008 C000601 801-000000
008 D010601 ST. LOUIS
008 D020601 MO
008 D030601 63105
008 A000602 COMMERCE BANK, N.A. (KANSAS CITY)
008 B000602 A
008 C000602 801-000000
008 D010602 KANSAS CITY
008 D020602 MO
008 D030602 64106
008 A000603 ROWE PRICE-FLEMING INTERNATIONAL, INC.
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008 C000603 801-14713
008 D010603 BALTIMORE
008 D020603 MD
008 D030603 21202
014 A000601 GOLDMAN, SACHS & CO.
014 B000601 8-16048
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014 A000603 JARDINE FLEMING
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014 A000604 ROBERT FLEMING SECURITIES
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014 A000605 COMMERCE BROKERAGE SERVICE, INC.
014 B000605 8-4125
015 A000601 STATE STREET BANK AND TRUST COMPANY
015 B000601 C
015 C010601 BOSTON
015 C020601 MA
015 C030601 02110
<PAGE> PAGE 31
015 E010601 X
015 A000602 CITIBANK, N.A.
015 B000602 S
015 C010602 BUENOS AIRES
015 D010602 ARGENTINA
015 E040602 X
015 A000603 WESTPAC BANKING CORPORATION
015 B000603 S
015 C010603 SYDNEY
015 D010603 AUSTALIA
015 E040603 X
015 A000604 GIROCREDIT BANK
015 B000604 S
015 C010604 VIENNA
015 D010604 AUSTRIA
015 E040604 X
015 A000605 STANDARD CHARTERED BANK
015 B000605 S
015 C010605 DHAKA
015 D010605 BANGLADESH
015 E040605 X
015 A000606 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000606 S
015 C010606 GABORONE
015 D010606 BOTSWANA
015 E040606 X
015 A000607 CITIBANK, N.A.
015 B000607 S
015 C010607 SAO PAULO
015 D010607 BRAZIL
015 E040607 X
015 A000608 CANADA TRUSTCO MORTGAGE COMPANY
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015 C010608 TORONTO
015 D010608 CANADA
015 E040608 X
015 A000609 CITIBANK, N.A.
015 B000609 S
015 C010609 SANTIAGO
015 D010609 CHILE
015 E040609 X
015 A000610 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000610 S
015 C010610 SHANGHAI
015 D010610 CHINA
015 E040610 X
015 A000611 DELETE
015 A000612 DELETE
015 A000613 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B000613 S
015 C010613 PRAGUE
<PAGE> PAGE 32
015 D010613 CZECH REPUBLIC
015 E040613 X
015 A000614 DEN DANSKE BANK
015 B000614 S
015 C010614 COPENHAGEN
015 D010614 DENMARK
015 E040614 X
015 A000615 DELETE
015 A000616 MERITA BANK LIMITED
015 B000616 S
015 C010616 HELSINKI
015 D010616 FINLAND
015 E040616 X
015 A000617 BANQUE PARIBAS
015 B000617 S
015 C010617 PARIS
015 D010617 FRANCE
015 E040617 X
015 A000618 DRESDNER BANK AG
015 B000618 S
015 C010618 FRANKFURT
015 D010618 GERMANY
015 E040618 X
015 A000619 DELETE
015 A000620 DELETE
015 A000621 STANDARD CHARTERED BANK
015 B000621 S
015 C010621 HONG KONG
015 D010621 HONG KONG
015 E040621 X
015 A000622 CITIBANK BUDAPEST RT.
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015 C010622 BUDAPEST
015 D010622 HUNGARY
015 E040622 X
015 A000623 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000623 S
015 C010623 BOMBAY
015 D010623 INDIA
015 E040623 X
015 A000624 DELETE
015 A000625 DELETE
015 A000626 BANK HAPOALIM B.M.
015 B000626 S
015 C010626 TEL AVIV
015 D010626 ISRAEL
015 E040626 X
015 A000627 MORGAN GUARANTY TRUST COMPANY
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015 C010627 MILAN
015 D010627 ITALY
<PAGE> PAGE 33
015 E040627 X
015 A000628 SUMITOMO TRUST & BANKING CO., LTD.
015 B000628 S
015 C010628 TOKYO
015 D010628 JAPAN
015 E040628 X
015 A000629 THE BRITISH BANK OF THE MIDDLE EAST
015 B000629 S
015 C010629 AMMAN
015 D010629 JORDAN
015 E040629 X
015 A000630 DELETE
015 A000631 SEOULBANK
015 B000631 S
015 C010631 SEOUL
015 D010631 KOREA
015 E040631 X
015 A000632 STANDARD CHARTERED BANK MALAYSIA BERHAD
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015 C010632 KUALA LUMPUR
015 D010632 MALAYSIA
015 E040632 X
015 A000633 CITIBANK MEXICO, S.A.
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015 A000635 MEESPIERSON N.V.
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015 D010635 NETHERLANDS
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015 C010637 OSLO
015 D010637 NORWAY
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015 A000638 DELETE
015 A000639 DELETE
015 A000640 DELETE
015 A000641 DELETE
015 A000642 BANCO COMERCIAL PORTUGUES
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<PAGE> PAGE 34
015 E040642 X
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015 D010643 SINGAPORE
015 E040643 X
015 A000644 STANDARD BANK OF SOUTH AFRICA LIMITED
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015 A000645 BANCO SANTANDER, S.A.
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015 D010645 SPAIN
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015 A000647 SKANDINAVISKA ENSKILDA BANKEN
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015 C010647 STOCKHOLM
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015 B000650 S
015 C010650 BANGKOK
015 D010650 THAILAND
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015 A000652 STATE STREET BANK AND TRUST COMPANY
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015 D010652 UNITED KINGDOM
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015 A000654 DELETE
015 A000655 DELETE
015 A000656 DELETE
015 A000657 GENERALE BANK
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015 A000658 DELETE
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<PAGE> PAGE 35
015 C010659 BOMBAY
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015 E040659 X
015 A000660 DELETE
015 A000661 THE DAIWA BANK, LIMITED
015 B000661 S
015 C010661 TOKYO
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015 E040661 X
015 A000662 THE FUJI BANK, LIMITED
015 B000662 S
015 C010662 TOKYO
015 D010662 JAPAN
015 E040662 X
015 A000663 DELETE
015 A000664 DELETE
015 A000665 DELETE
015 A000666 DELETE
015 A000667 DELETE
015 A000668 DELETE
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025 A000601 DELETE
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<PAGE> PAGE 36
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055 B000600 N
<PAGE> PAGE 37
056 000600 Y
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<PAGE> PAGE 38
070 G020600 N
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072 X000600 1517
<PAGE> PAGE 39
072 Y000600 346
072 Z000600 238
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074 A000600 693
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074 E000600 227
074 F000600 74076
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075 B000600 68065
076 000600 0.00
008 A000701 COMMERCE BANK, N.A. (ST. LOUIS)
008 B000701 A
008 C000701 801-000000
008 D010701 ST. LOUIS
008 D020701 MO
<PAGE> PAGE 40
008 D030701 63105
008 A000702 COMMERCE BANK, N.A. (KANSAS CITY)
008 B000702 A
008 C000702 801-000000
008 D010702 KANSAS CITY
008 D020702 MO
008 D030702 64106
014 A000701 GOLDMAN, SACHS & CO.
014 B000701 8-16048
014 A000702 GOLDMAN SACHS INTERNATIONAL
014 B000702 8-00000
014 A000703 COMMERCE BROKERAGE SERVICE, INC.
014 B000703 8-4125
015 A000701 STATE STREET BANK AND TRUST COMPANY
015 B000701 C
015 C010701 BOSTON
015 C020701 MA
015 C030701 02110
015 E010701 X
024 000700 N
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025 D000702 0
025 D000703 0
025 D000704 0
025 D000705 0
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025 D000708 0
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028 A040700 459
028 B010700 670
028 B020700 12
028 B030700 0
028 B040700 50
028 C010700 2051
028 C020700 11
028 C030700 0
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028 D010700 1490
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028 D030700 0
028 D040700 446
028 E010700 1262
028 E020700 12
028 E030700 0
028 E040700 387
028 F010700 563
028 F020700 11
028 F030700 0
<PAGE> PAGE 41
028 F040700 698
028 G010700 6773
028 G020700 70
028 G030700 0
028 G040700 2078
028 H000700 99
029 000700 Y
030 A000700 4
030 B000700 3.50
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031 A000700 1
031 B000700 0
032 000700 3
033 000700 0
045 000700 Y
046 000700 N
047 000700 Y
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048 B010700 0
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048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 Y
053 B000700 Y
053 C000700 N
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
<PAGE> PAGE 42
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
061 000700 1000
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.8
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 97.4
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 6.5
064 A000700 Y
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 N
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
<PAGE> PAGE 43
070 J020700 N
070 K010700 N
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 N
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 8577
071 B000700 1167
071 C000700 19440
071 D000700 6
072 A000700 12
072 B000700 986
072 C000700 0
072 D000700 0
072 E000700 0
072 F000700 104
072 G000700 31
072 H000700 0
072 I000700 30
072 J000700 40
072 K000700 0
072 L000700 3
072 M000700 1
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072 P000700 0
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072 R000700 2
072 S000700 6
072 T000700 0
072 U000700 11
072 V000700 0
072 W000700 2
072 X000700 238
072 Y000700 61
072 Z000700 809
072AA000700 6
072BB000700 0
072CC010700 458
072CC020700 0
<PAGE> PAGE 44
072DD010700 809
072DD020700 0
072EE000700 0
073 A010700 0.7254
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 19
074 B000700 0
074 C000700 200
074 D000700 24638
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
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074 L000700 517
074 M000700 27
074 N000700 25401
074 O000700 0
074 P000700 14
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 106
074 S000700 0
074 T000700 25281
074 U010700 1341
074 U020700 0
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074 V020700 0.00
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074 X000700 256
074 Y000700 0
075 A000700 0
075 B000700 20812
076 000700 0.00
008 A000801 COMMERCE BANK, N.A. (ST. LOUIS)
008 B000801 A
008 C000801 801-000000
008 D010801 ST. LOUIS
008 D020801 MO
008 D030801 63105
008 A000802 COMMERCE BANK, N.A. (KANSAS CITY)
008 B000802 A
008 C000802 801-000000
008 D010802 KANSAS CITY
008 D020802 MO
<PAGE> PAGE 45
008 D030802 64106
014 A000801 GOLDMAN, SACHS & CO.
014 B000801 8-16048
014 A000802 GOLDMAN SACHS INTERNATIONAL
014 B000802 8-00000
014 A000803 COMMERCE BROKERAGE SERVICE, INC.
014 B000803 8-4125
015 A000801 STATE STREET BANK AND TRUST COMPANY
015 B000801 C
015 C010801 BOSTON
015 C020801 MA
015 C030801 02110
015 E010801 X
024 000800 N
025 D000801 0
025 D000802 0
025 D000803 0
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025 D000806 0
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025 D000808 0
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028 A040800 250
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028 B020800 11
028 B030800 0
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028 C020800 12
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028 E010800 3154
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028 F030800 0
028 F040800 393
028 G010800 6502
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028 G030800 0
028 G040800 1223
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<PAGE> PAGE 46
029 000800 Y
030 A000800 22
030 B000800 3.50
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031 A000800 2
031 B000800 0
032 000800 20
033 000800 0
045 000800 Y
046 000800 N
047 000800 Y
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048 B010800 0
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048 F010800 0
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048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
049 000800 N
050 000800 N
051 000800 N
052 000800 N
053 A000800 Y
053 B000800 Y
053 C000800 N
055 A000800 N
055 B000800 N
056 000800 Y
057 000800 N
058 A000800 N
059 000800 Y
060 A000800 N
060 B000800 N
061 000800 1000
062 A000800 Y
<PAGE> PAGE 47
062 B000800 0.0
062 C000800 0.0
062 D000800 7.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 96.7
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 7.0
064 A000800 Y
064 B000800 N
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 N
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 N
070 K020800 N
070 L010800 N
070 L020800 N
070 M010800 N
<PAGE> PAGE 48
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 8594
071 B000800 2369
071 C000800 18646
071 D000800 13
072 A000800 12
072 B000800 933
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072 Z000800 807
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072DD010800 807
072DD020800 0
072EE000800 15
073 A010800 0.7625
073 A020800 0.0000
073 B000800 0.0153
<PAGE> PAGE 49
073 C000800 0.0000
074 A000800 43
074 B000800 0
074 C000800 1700
074 D000800 23635
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074 F000800 0
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074 N000800 25824
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074 X000800 294
074 Y000800 0
075 A000800 0
075 B000800 19484
076 000800 0.00
008 A000901 COMMERCE BANK, N.A. (ST. LOUIS)
008 B000901 A
008 C000901 801-000000
008 D010901 ST. LOUIS
008 D020901 MO
008 D030901 63105
008 A000902 COMMERCE BANK, N.A. (KANSAS CITY)
008 B000902 A
008 C000902 801-000000
008 D010902 KANSAS CITY
008 D020902 MO
008 D030902 64106
014 A000901 GOLDMAN, SACHS & CO.
014 B000901 8-16048
014 A000902 GOLDMAN SACHS INTERNATIONAL
014 B000902 8-000000
014 A000903 COMMERCE BROKERAGE SERVICE, INC.
<PAGE> PAGE 50
014 B000903 8-4125
015 A000901 STATE STREET BANK AND TRUST COMPANY
015 B000901 C
015 C010901 BOSTON
015 C020901 MA
015 C030901 02110
015 E010901 X
024 000900 Y
025 A000901 BEAR STEARNS COMPANIES,INC.
025 B000901 13-4946705
025 C000901 E
025 D000901 873
025 A000902 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
025 B000902 13-2655990
025 C000902 E
025 D000902 882
025 A000903 JP MORGAN & CO., INC.
025 C000903 E
025 D000903 274
025 A000904 LEHMAN BROTHERS HOLDINGS, INC.
025 B000904 13-2518466
025 C000904 E
025 D000904 847
025 D000905 0
025 D000906 0
025 D000907 0
025 D000908 0
028 A010900 2337
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028 B010900 3266
028 B020900 56
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028 D040900 790
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028 E020900 64
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028 F010900 14764
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028 F040900 127
<PAGE> PAGE 51
028 G010900 34241
028 G020900 120
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028 G040900 1982
028 H000900 994
029 000900 Y
030 A000900 33
030 B000900 3.50
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031 B000900 0
032 000900 26
033 000900 0
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048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 Y
053 C000900 N
055 A000900 N
055 B000900 N
056 000900 Y
057 000900 N
058 A000900 N
<PAGE> PAGE 52
059 000900 Y
060 A000900 Y
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061 000900 1000
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062 H000900 0.0
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062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
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062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 B000900 N
066 C000900 N
066 D000900 N
066 E000900 Y
066 F000900 N
066 G000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
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070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
<PAGE> PAGE 53
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 42993
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072 A000900 8
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072 C000900 296
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072 S000900 7
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<PAGE> PAGE 54
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072DD020900 3
072EE000900 0
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074 B000900 3017
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074 F000900 44658
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074 N000900 48942
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074 V010900 21.82
074 V020900 21.81
074 W000900 0.0000
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075 B000900 21405
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SIGNATURE DEBORAH FARRELL
TITLE LEGAL ASSISTANT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> SHORT-TERM GOVERNMENT FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 46,418,895
<INVESTMENTS-AT-VALUE> 47,046,828
<RECEIVABLES> 4,233,428
<ASSETS-OTHER> 31,696
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 51,311,952
<PAYABLE-FOR-SECURITIES> 1,859,592
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 162,311
<TOTAL-LIABILITIES> 2,021,903
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 48,782,930
<SHARES-COMMON-STOCK> 2,643,812
<SHARES-COMMON-PRIOR> 1,835,731
<ACCUMULATED-NII-CURRENT> 59,144
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (179,958)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 627,933
<NET-ASSETS> 49,290,049
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,669,993
<OTHER-INCOME> 0
<EXPENSES-NET> (270,666)
<NET-INVESTMENT-INCOME> 2,399,327
<REALIZED-GAINS-CURRENT> (133,888)
<APPREC-INCREASE-CURRENT> 314,447
<NET-CHANGE-FROM-OPS> 2,579,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,392,682)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,714,904
<NUMBER-OF-SHARES-REDEEMED> (985,134)
<SHARES-REINVESTED> 78,311
<NET-CHANGE-IN-ASSETS> 15,451,538
<ACCUMULATED-NII-PRIOR> 16,269
<ACCUMULATED-GAINS-PRIOR> (8,584)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198,802
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 439,164
<AVERAGE-NET-ASSETS> 39,642,420
<PER-SHARE-NAV-BEGIN> 18.43
<PER-SHARE-NII> 1.11
<PER-SHARE-GAIN-APPREC> 0.04
<PER-SHARE-DIVIDEND> (1.11)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.47
<EXPENSE-RATIO> 1.11
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMMERCE FUNDS ANNUAL REPORT DATED OCTOBER 31,1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> SHORT-TERM GOVERNMENT FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 46,418,895
<INVESTMENTS-AT-VALUE> 47,046,828
<RECEIVABLES> 4,233,428
<ASSETS-OTHER> 31,696
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 51,311,952
<PAYABLE-FOR-SECURITIES> 1,859,592
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 162,311
<TOTAL-LIABILITIES> 2,021,903
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 48,782,930
<SHARES-COMMON-STOCK> 24,359
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 59,144
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (179,958)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 627,933
<NET-ASSETS> 49,290,049
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,669,993
<OTHER-INCOME> 0
<EXPENSES-NET> (270,666)
<NET-INVESTMENT-INCOME> 2,399,327
<REALIZED-GAINS-CURRENT> (133,888)
<APPREC-INCREASE-CURRENT> 314,447
<NET-CHANGE-FROM-OPS> 2,579,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,645)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24,418
<NUMBER-OF-SHARES-REDEEMED> (363)
<SHARES-REINVESTED> 304
<NET-CHANGE-IN-ASSETS> 15,451,538
<ACCUMULATED-NII-PRIOR> 16,269
<ACCUMULATED-GAINS-PRIOR> (8,584)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198,802
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 439,164
<AVERAGE-NET-ASSETS> 142,197
<PER-SHARE-NAV-BEGIN> 18.37
<PER-SHARE-NII> 0.92
<PER-SHARE-GAIN-APPREC> 0.10
<PER-SHARE-DIVIDEND> (0.92)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.47
<EXPENSE-RATIO> 1.36
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> BOND FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 204,971,060
<INVESTMENTS-AT-VALUE> 214,097,029
<RECEIVABLES> 5,211,288
<ASSETS-OTHER> 22,476
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 219,330,793
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 789,176
<TOTAL-LIABILITIES> 789,176
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 209,528,790
<SHARES-COMMON-STOCK> 11,207,266
<SHARES-COMMON-PRIOR> 7,929,698
<ACCUMULATED-NII-CURRENT> 103,694
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (216,836)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,125,969
<NET-ASSETS> 218,541,617
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12,133,511
<OTHER-INCOME> 0
<EXPENSES-NET> (1,477,961)
<NET-INVESTMENT-INCOME> 10,655,550
<REALIZED-GAINS-CURRENT> (143,004)
<APPREC-INCREASE-CURRENT> 4,412,106
<NET-CHANGE-FROM-OPS> 14,924,652
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,693,018)
<DISTRIBUTIONS-OF-GAINS> (184,700)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,037,764
<NUMBER-OF-SHARES-REDEEMED> (2,196,219)
<SHARES-REINVESTED> 436,023
<NET-CHANGE-IN-ASSETS> 67,336,901
<ACCUMULATED-NII-PRIOR> 76,707
<ACCUMULATED-GAINS-PRIOR> 184,631
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 867,384
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,477,961
<AVERAGE-NET-ASSETS> 173,215,066
<PER-SHARE-NAV-BEGIN> 19.07
<PER-SHARE-NII> 1.17
<PER-SHARE-GAIN-APPREC> 0.39
<PER-SHARE-DIVIDEND> (1.18)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.43
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 022
<NAME> BOND FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 204,971,060
<INVESTMENTS-AT-VALUE> 214,097,029
<RECEIVABLES> 5,211,288
<ASSETS-OTHER> 22,476
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 219,330,793
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 789,176
<TOTAL-LIABILITIES> 789,176
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 209,528,790
<SHARES-COMMON-STOCK> 38,047
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 103,694
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (216,836)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,125,969
<NET-ASSETS> 218,541,617
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12,133,511
<OTHER-INCOME> 0
<EXPENSES-NET> (1,477,961)
<NET-INVESTMENT-INCOME> 10,655,550
<REALIZED-GAINS-CURRENT> (143,004)
<APPREC-INCREASE-CURRENT> 4,412,106
<NET-CHANGE-FROM-OPS> 14,924,652
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,032)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,357
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 690
<NET-CHANGE-IN-ASSETS> 67,336,901
<ACCUMULATED-NII-PRIOR> 76,707
<ACCUMULATED-GAINS-PRIOR> 184,631
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 867,384
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,477,961
<AVERAGE-NET-ASSETS> 315,339
<PER-SHARE-NAV-BEGIN> 19.00
<PER-SHARE-NII> 0.94
<PER-SHARE-GAIN-APPREC> 0.43
<PER-SHARE-DIVIDEND> (0.94)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.43
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> BALANCED FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 89,365,590
<INVESTMENTS-AT-VALUE> 106,490,161
<RECEIVABLES> 660,540
<ASSETS-OTHER> 49,147
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 107,199,848
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198,987
<TOTAL-LIABILITIES> 198,987
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 84,202,523
<SHARES-COMMON-STOCK> 3,966,282
<SHARES-COMMON-PRIOR> 2,911,427
<ACCUMULATED-NII-CURRENT> 209,213
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,464,554
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,124,571
<NET-ASSETS> 107,000,861
<DIVIDEND-INCOME> 616,428
<INTEREST-INCOME> 2,477,003
<OTHER-INCOME> 0
<EXPENSES-NET> (979,643)
<NET-INVESTMENT-INCOME> 2,113,788
<REALIZED-GAINS-CURRENT> 5,557,357
<APPREC-INCREASE-CURRENT> 7,648,745
<NET-CHANGE-FROM-OPS> 15,319,890
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,044,522)
<DISTRIBUTIONS-OF-GAINS> (3,708,475)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,767,694
<NUMBER-OF-SHARES-REDEEMED> (949,694)
<SHARES-REINVESTED> 236,855
<NET-CHANGE-IN-ASSETS> 37,120,613
<ACCUMULATED-NII-PRIOR> 142,448
<ACCUMULATED-GAINS-PRIOR> 3,618,034
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 865,907
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,324,502
<AVERAGE-NET-ASSETS> 86,123,941
<PER-SHARE-NAV-BEGIN> 24.00
<PER-SHARE-NII> 0.59
<PER-SHARE-GAIN-APPREC> 3.93
<PER-SHARE-DIVIDEND> (0.59)
<PER-SHARE-DISTRIBUTIONS> (1.26)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.67
<EXPENSE-RATIO> 1.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 032
<NAME> BALANCED FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 89,365,590
<INVESTMENTS-AT-VALUE> 106,490,161
<RECEIVABLES> 660,540
<ASSETS-OTHER> 49,147
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 107,199,848
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198,987
<TOTAL-LIABILITIES> 198,987
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 84,202,523
<SHARES-COMMON-STOCK> 45,717
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 209,213
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,464,554
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,124,571
<NET-ASSETS> 107,000,861
<DIVIDEND-INCOME> 616,428
<INTEREST-INCOME> 2,477,003
<OTHER-INCOME> 0
<EXPENSES-NET> (979,643)
<NET-INVESTMENT-INCOME> 2,113,788
<REALIZED-GAINS-CURRENT> 5,557,357
<APPREC-INCREASE-CURRENT> 7,648,745
<NET-CHANGE-FROM-OPS> 15,319,890
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,379)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46,192
<NUMBER-OF-SHARES-REDEEMED> (867)
<SHARES-REINVESTED> 392
<NET-CHANGE-IN-ASSETS> 37,120,613
<ACCUMULATED-NII-PRIOR> 142,448
<ACCUMULATED-GAINS-PRIOR> 3,618,034
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 865,907
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,324,502
<AVERAGE-NET-ASSETS> 561,363
<PER-SHARE-NAV-BEGIN> 23.25
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> 3.42
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.66
<EXPENSE-RATIO> 1.78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 041
<NAME> GROWTH FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 257,246,485
<INVESTMENTS-AT-VALUE> 348,184,676
<RECEIVABLES> 2,025,273
<ASSETS-OTHER> 26,355
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 350,236,304
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 704,894
<TOTAL-LIABILITIES> 704,894
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 235,571,060
<SHARES-COMMON-STOCK> 9,953,941
<SHARES-COMMON-PRIOR> 7,217,198
<ACCUMULATED-NII-CURRENT> 40,695
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 22,981,464
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90,938,191
<NET-ASSETS> 349,531,410
<DIVIDEND-INCOME> 3,851,251
<INTEREST-INCOME> 970,226
<OTHER-INCOME> 0
<EXPENSES-NET> (3,135,981)
<NET-INVESTMENT-INCOME> 1,685,496
<REALIZED-GAINS-CURRENT> 22,981,707
<APPREC-INCREASE-CURRENT> 40,425,005
<NET-CHANGE-FROM-OPS> 65,092,208
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,656,440)
<DISTRIBUTIONS-OF-GAINS> (14,172,190)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,256,557
<NUMBER-OF-SHARES-REDEEMED> (2,015,211)
<SHARES-REINVESTED> 495,397
<NET-CHANGE-IN-ASSETS> 140,623,625
<ACCUMULATED-NII-PRIOR> 16,344
<ACCUMULATED-GAINS-PRIOR> 14,171,947
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,132,218
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,135,981
<AVERAGE-NET-ASSETS> 281,836,622
<PER-SHARE-NAV-BEGIN> 28.95
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 7.51
<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> (1.92)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 34.54
<EXPENSE-RATIO> 1.11
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 042
<NAME> GROWTH FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 257,246,485
<INVESTMENTS-AT-VALUE> 348,184,676
<RECEIVABLES> 2,025,273
<ASSETS-OTHER> 26,355
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 350,236,304
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 704,894
<TOTAL-LIABILITIES> 704,894
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 235,571,060
<SHARES-COMMON-STOCK> 166,880
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 40,695
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 22,981,464
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90,938,191
<NET-ASSETS> 349,531,410
<DIVIDEND-INCOME> 3,851,251
<INTEREST-INCOME> 970,226
<OTHER-INCOME> 0
<EXPENSES-NET> (3,135,981)
<NET-INVESTMENT-INCOME> 1,685,496
<REALIZED-GAINS-CURRENT> 22,981,707
<APPREC-INCREASE-CURRENT> 40,425,005
<NET-CHANGE-FROM-OPS> 65,092,208
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,547)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 170,508
<NUMBER-OF-SHARES-REDEEMED> (3,937)
<SHARES-REINVESTED> 309
<NET-CHANGE-IN-ASSETS> 140,623,625
<ACCUMULATED-NII-PRIOR> 16,344
<ACCUMULATED-GAINS-PRIOR> 14,171,947
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,132,218
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,135,981
<AVERAGE-NET-ASSETS> 2,962,565
<PER-SHARE-NAV-BEGIN> 28.26
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 6.25
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 34.50
<EXPENSE-RATIO> 1.36
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 051
<NAME> MID CAP FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 91,032,877
<INVESTMENTS-AT-VALUE> 113,280,312
<RECEIVABLES> 551,042
<ASSETS-OTHER> 21,863
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 113,853,217
<PAYABLE-FOR-SECURITIES> 576,280
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 176,469
<TOTAL-LIABILITIES> 752,749
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 84,499,696
<SHARES-COMMON-STOCK> 3,404,956
<SHARES-COMMON-PRIOR> 2,660,099
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,353,337
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 22,247,435
<NET-ASSETS> 113,100,468
<DIVIDEND-INCOME> 466,106
<INTEREST-INCOME> 86,872
<OTHER-INCOME> 0
<EXPENSES-NET> (1,091,535)
<NET-INVESTMENT-INCOME> (538,557)
<REALIZED-GAINS-CURRENT> 6,551,956
<APPREC-INCREASE-CURRENT> 9,385,946
<NET-CHANGE-FROM-OPS> 15,399,345
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (781,830)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,462,199
<NUMBER-OF-SHARES-REDEEMED> (741,233)
<SHARES-REINVESTED> 23,891
<NET-CHANGE-IN-ASSETS> 38,459,028
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 583,211
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 664,643
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,091,535
<AVERAGE-NET-ASSETS> 88,385,725
<PER-SHARE-NAV-BEGIN> 28.06
<PER-SHARE-NII> (0.13)
<PER-SHARE-GAIN-APPREC> 5.38
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 33.02
<EXPENSE-RATIO> 1.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 052
<NAME> MID CAP FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 91,032,877
<INVESTMENTS-AT-VALUE> 113,280,312
<RECEIVABLES> 551,042
<ASSETS-OTHER> 21,863
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 113,853,217
<PAYABLE-FOR-SECURITIES> 576,280
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 176,469
<TOTAL-LIABILITIES> 752,749
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 84,499,696
<SHARES-COMMON-STOCK> 19,980
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,353,337
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 22,247,435
<NET-ASSETS> 113,100,468
<DIVIDEND-INCOME> 466,106
<INTEREST-INCOME> 86,872
<OTHER-INCOME> 0
<EXPENSES-NET> (1,091,535)
<NET-INVESTMENT-INCOME> (538,557)
<REALIZED-GAINS-CURRENT> 6,551,956
<APPREC-INCREASE-CURRENT> 9,385,946
<NET-CHANGE-FROM-OPS> 15,399,345
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 111,102
<NUMBER-OF-SHARES-REDEEMED> (91,122)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 38,459,028
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 583,211
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 664,643
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,091,535
<AVERAGE-NET-ASSETS> 278,757
<PER-SHARE-NAV-BEGIN> 28.64
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 4.41
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.94
<EXPENSE-RATIO> 1.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 061
<NAME> INTERNATIONAL EQUITY FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 74,392,137
<INVESTMENTS-AT-VALUE> 78,742,974
<RECEIVABLES> 661,199
<ASSETS-OTHER> 716,111
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,120,284
<PAYABLE-FOR-SECURITIES> 1,329,351
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 287,015
<TOTAL-LIABILITIES> 1,616,366
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 71,968,741
<SHARES-COMMON-STOCK> 3,541,115
<SHARES-COMMON-PRIOR> 2,461,373
<ACCUMULATED-NII-CURRENT> 236,149
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,972,065
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,326,963
<NET-ASSETS> 78,503,918
<DIVIDEND-INCOME> 1,127,142
<INTEREST-INCOME> 281,686
<OTHER-INCOME> 0
<EXPENSES-NET> (1,170,618)
<NET-INVESTMENT-INCOME> 238,210
<REALIZED-GAINS-CURRENT> 2,055,325
<APPREC-INCREASE-CURRENT> 712,317
<NET-CHANGE-FROM-OPS> 3,005,852
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (268,546)
<DISTRIBUTIONS-OF-GAINS> (598,118)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,709,863
<NUMBER-OF-SHARES-REDEEMED> (662,113)
<SHARES-REINVESTED> 31,992
<NET-CHANGE-IN-ASSETS> 26,914,892
<ACCUMULATED-NII-PRIOR> 245,502
<ACCUMULATED-GAINS-PRIOR> 530,523
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,020,685
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,517,192
<AVERAGE-NET-ASSETS> 67,951,745
<PER-SHARE-NAV-BEGIN> 20.96
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 1.42
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> (0.24)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.10
<EXPENSE-RATIO> 2.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 062
<NAME> INTERNATIONAL EQUITY FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 74,392,137
<INVESTMENTS-AT-VALUE> 78,742,974
<RECEIVABLES> 661,199
<ASSETS-OTHER> 716,111
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,120,284
<PAYABLE-FOR-SECURITIES> 1,329,351
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 287,015
<TOTAL-LIABILITIES> 1,616,366
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 71,968,741
<SHARES-COMMON-STOCK> 10,449
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 236,149
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,972,065
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,326,963
<NET-ASSETS> 78,503,918
<DIVIDEND-INCOME> 1,127,142
<INTEREST-INCOME> 281,686
<OTHER-INCOME> 0
<EXPENSES-NET> (1,170,618)
<NET-INVESTMENT-INCOME> 238,210
<REALIZED-GAINS-CURRENT> 2,055,325
<APPREC-INCREASE-CURRENT> 712,317
<NET-CHANGE-FROM-OPS> 3,005,852
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,451
<NUMBER-OF-SHARES-REDEEMED> (2)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 26,914,892
<ACCUMULATED-NII-PRIOR> 245,502
<ACCUMULATED-GAINS-PRIOR> 530,523
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,020,685
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,517,192
<AVERAGE-NET-ASSETS> 113,117
<PER-SHARE-NAV-BEGIN> 21.70
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.35
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.06
<EXPENSE-RATIO> 2.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 071
<NAME> NATIONAL TAX-FREE BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 24,203,802
<INVESTMENTS-AT-VALUE> 24,837,935
<RECEIVABLES> 517,031
<ASSETS-OTHER> 46,288
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,401,254
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 120,448
<TOTAL-LIABILITIES> 120,448
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,631,502
<SHARES-COMMON-STOCK> 1,341,115
<SHARES-COMMON-PRIOR> 954,201
<ACCUMULATED-NII-CURRENT> 15,303
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (132)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 643,133
<NET-ASSETS> 25,280,806
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 986,379
<OTHER-INCOME> 0
<EXPENSES-NET> (176,898)
<NET-INVESTMENT-INCOME> 809,481
<REALIZED-GAINS-CURRENT> 5,845
<APPREC-INCREASE-CURRENT> 458,468
<NET-CHANGE-FROM-OPS> 1,273,794
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (809,481)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 589,481
<NUMBER-OF-SHARES-REDEEMED> (209,410)
<SHARES-REINVESTED> 6,843
<NET-CHANGE-IN-ASSETS> 7,667,521
<ACCUMULATED-NII-PRIOR> 9,525
<ACCUMULATED-GAINS-PRIOR> (5,977)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 104,058
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 238,308
<AVERAGE-NET-ASSETS> 20,811,520
<PER-SHARE-NAV-BEGIN> 18.46
<PER-SHARE-NII> 0.72
<PER-SHARE-GAIN-APPREC> 0.39
<PER-SHARE-DIVIDEND> (0.72)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.85
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMMERCE
FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 081
<NAME> MISSOURI TAX-FREE BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 24,880,953
<INVESTMENTS-AT-VALUE> 25,335,205
<RECEIVABLES> 414,612
<ASSETS-OTHER> 74,133
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,823,950
<PAYABLE-FOR-SECURITIES> 1,292,666
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 97,614
<TOTAL-LIABILITIES> 1,390,380
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23,944,161
<SHARES-COMMON-STOCK> 1,312,685
<SHARES-COMMON-PRIOR> 932,652
<ACCUMULATED-NII-CURRENT> 16,372
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,885
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 454,252
<NET-ASSETS> 24,433,670
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 933,162
<OTHER-INCOME> 0
<EXPENSES-NET> (126,646)
<NET-INVESTMENT-INCOME> 806,516
<REALIZED-GAINS-CURRENT> 18,879
<APPREC-INCREASE-CURRENT> 385,392
<NET-CHANGE-FROM-OPS> 1,210,787
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (806,516)
<DISTRIBUTIONS-OF-GAINS> (14,681)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 548,660
<NUMBER-OF-SHARES-REDEEMED> (175,860)
<SHARES-REINVESTED> 7,233
<NET-CHANGE-IN-ASSETS> 7,399,256
<ACCUMULATED-NII-PRIOR> 10,626
<ACCUMULATED-GAINS-PRIOR> 14,687
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 97,420
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 235,001
<AVERAGE-NET-ASSETS> 19,484,010
<PER-SHARE-NAV-BEGIN> 18.26
<PER-SHARE-NII> 0.76
<PER-SHARE-GAIN-APPREC> 0.37
<PER-SHARE-DIVIDEND> (0.76)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.61
<EXPENSE-RATIO> 1.21
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMMERCE FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 091
<NAME> GROWTH AND INCOME FUND - INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 44,799,584
<INVESTMENTS-AT-VALUE> 47,675,231
<RECEIVABLES> 1,229,110
<ASSETS-OTHER> 37,493
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 48,941,834
<PAYABLE-FOR-SECURITIES> 1,056,430
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123,961
<TOTAL-LIABILITIES> 1,180,391
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,755,926
<SHARES-COMMON-STOCK> 2,070,789
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 28,799
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 101,071
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,875,647
<NET-ASSETS> 47,761,443
<DIVIDEND-INCOME> 295,713
<INTEREST-INCOME> 60,616
<OTHER-INCOME> 0
<EXPENSES-NET> (172,040)
<NET-INVESTMENT-INCOME> 184,289
<REALIZED-GAINS-CURRENT> 101,071
<APPREC-INCREASE-CURRENT> 2,875,647
<NET-CHANGE-FROM-OPS> 3,161,007
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (152,431)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,164,150
<NUMBER-OF-SHARES-REDEEMED> (98,895)
<SHARES-REINVESTED> 5,534
<NET-CHANGE-IN-ASSETS> 47,761,443
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 106,879
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 288,607
<AVERAGE-NET-ASSETS> 20,784,281
<PER-SHARE-NAV-BEGIN> 18.00
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 3.80
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.82
<EXPENSE-RATIO> 2.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMMERCE FUNDS ANNUAL REPORT DATED OCTOBER 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 092
<NAME> GROWTH AND INCOME FUND - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 44,799,584
<INVESTMENTS-AT-VALUE> 47,675,231
<RECEIVABLES> 1,229,110
<ASSETS-OTHER> 37,493
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 48,941,834
<PAYABLE-FOR-SECURITIES> 1,056,430
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123,961
<TOTAL-LIABILITIES> 1,180,391
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,755,926
<SHARES-COMMON-STOCK> 118,667
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 28,799
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 101,071
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,875,647
<NET-ASSETS> 47,761,443
<DIVIDEND-INCOME> 295,713
<INTEREST-INCOME> 60,616
<OTHER-INCOME> 0
<EXPENSES-NET> (172,040)
<NET-INVESTMENT-INCOME> 184,289
<REALIZED-GAINS-CURRENT> 101,071
<APPREC-INCREASE-CURRENT> 2,875,647
<NET-CHANGE-FROM-OPS> 3,161,007
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,059)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 118,593
<NUMBER-OF-SHARES-REDEEMED> (68)
<SHARES-REINVESTED> 142
<NET-CHANGE-IN-ASSETS> 47,761,443
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 106,879
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 288,607
<AVERAGE-NET-ASSETS> 620,799
<PER-SHARE-NAV-BEGIN> 18.00
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 3.80
<PER-SHARE-DIVIDEND> (0.11)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.81
<EXPENSE-RATIO> 2.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
The Board of Trustees of
Commerce Funds
In planning and performing our audit of the financial statements of
Commerce Funds (including Short-Term Government Fund, Bond Fund,
Balanced, Fund, Growth and Income Fund, Growth Fund, MidCap Fund
(formerly Aggressive Growth Fund), International Equity Fund,
National Tax-Free Bond Fund and Missouri Tax-Free Bond Fund) for
the year or period ended October 31, 1997, we considered its
internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and
to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of Commerce Funds is responsible for establishing
and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of controls.
Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the
safeguarding of assets against authorized acquisition, use or
disposition.
Because of inherent limitations in internal control, errors or
irregularities may occur and not be detected. Also, projection of
any evaluation of internal control to future periods is subject to
the risks that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition
in which the design or operation of one or more of the internal
control components does not reduce to a relatively low level of
risk that errors or irregularities in amounts that would be
material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in
the normal course of performing their assigned functions. However,
we noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we consider to
be material weaknesses as defined above.
<PAGE>
<PAGE>
This report is intended solely for the information and use of
management, the Board of Trustees of Commerce funds, and the
Securities and Exchange Commission.
KPMG Peat Marwick LLP
Kansas City, Missouri
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
<PAGE>
December 6, 1997
Exhibit (5)(c)
ADDENDUM NO. 1 TO ADVISORY AGREEMENT
This Addendum No. 1, dated as of the 28th day of February
1997, among COMMERCE BANK, N.A. (St. Louis), with its principal
office and place of business in St. Louis, Missouri, COMMERCE BANK,
N.A. (Kansas City), with its principal office and place of business
in Kansas City, Missouri (collectively, the "Advisor"), and THE
COMMERCE FUNDS, a Delaware Business Trust having its principal
office and place of business at 4900 Sears Tower, Chicago, Illinois
(the "Trust");
WHEREAS, the Trust and the Advisor have entered into an
Advisory Agreement dated as of December 1, 1994 (the "Advisory
Agreement"), pursuant to which the Trust appointed the Advisor to
act as investment adviser to the Trust for its Short-Term
Government Fund, Bond Fund, Balanced Fund, Growth Fund, Aggressive
Growth Fund, International Equity Fund, National Tax-Free Bond Fund
and Missouri Tax-Free Bond Fund (each a "Fund");
WHEREAS, the Trust has notified the Advisor that it has
established a Growth and Income Fund and that it desires to retain
the Advisor to act as the investment adviser therefor, and the
Advisor has notified the Trust that it is willing to serve as
investment adviser for the Growth and Income Fund;
NOW THEREFORE, the parties hereto, intending to be legally
bound, hereby agree as follows:
1. Appointment. The Trust hereby appoints the Advisor to
act as investment adviser to the Trust for the Growth and Income
Fund for the period and on the terms set forth in the Advisory
Agreement. The Advisor hereby accepts such appointment and agrees
to render the services set forth in the Advisory Agreement for the
compensation herein provided.
2. Compensation. For the services provided and the expenses
assumed pursuant to the Advisory Agreement with respect to the
Growth and Income Fund, the Trust will pay the Advisor and the
Advisor will accept as full compensation therefor fees, computed
daily and paid monthly, based on the net assets of the Growth and
Income Fund considered at the following annual rate: .75% of 1% of
the Growth and Income Fund's average daily net assets.
3. Capitalized Terms. From and after the date hereof, the
term "Fund" as used in the Advisory Agreement shall be deemed to
include the Growth and Income Fund. Capitalized terms used herein
and not otherwise defined shall have the meanings ascribed to them
in the Advisory Agreement.
4. Miscellaneous. Except to the extent supplemented hereby,
the Advisory Agreement shall remain unchanged and in full force and
effect and is hereby ratified and confirmed in all respects as
supplemented hereby.
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IN WITNESS WHEREOF, the undersigned have executed this
Addendum as of the date and year first above written.
THE COMMERCE FUNDS
By:/s/ Paul Klug, Jr.
Name:
Title:
COMMERCE BANK, N.A. (St. Louis)
By:/s/ Gary Campbell
Name:
Title:
COMMERCE BANK, N.A. (Kansas City)
By:/s/ Thomas Weiford
Name:
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Title:
