<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000927972
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 THE DLB FUND GROUP
001 B000000 811-08690
001 C000000 6172253800
002 A000000 ONE MEMORIAL DRIVE
002 B000000 CAMBRIDGE
002 C000000 MA
002 D010000 02142
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 THE DLB FIXED INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 THE DLB GLOBAL SMALL CAPITALIZATION FUND
007 C030200 N
007 C010300 3
007 C020300 THE DLB VALUE FUND
007 C030300 N
007 C010400 4
007 C020400 THE DLB MID CAPITALIZATION FUND
007 C030400 N
007 C010500 5
007 C020500 THE DLB QUANTITATIVE EQUITY FUND
007 C030500 N
007 C010600 6
007 C020600 THE DLB GLOBAL BOND FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
012 A00AA01 INVESTORS BANK & TRUST COMPANY
012 B00AA01 85-720
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02111
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 BOSTON
<PAGE> PAGE 2
013 B02AA01 MA
013 B03AA01 02110
014 A00AA01 BABSON SECURITIES CORPORATION
014 B00AA01 8-47589
015 A00AA01 INVESTORS BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02111
015 E01AA01 X
015 A00AA02 CITIBANK, N.A., BUENOS AIRES
015 B00AA02 S
015 C01AA02 X
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 NATIONAL AUSTRALIA BANK LIMITED
015 B00AA03 S
015 C01AA03 X
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 CREDITANSTALT BANKVEREIN
015 B00AA04 S
015 C01AA04 X
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 STANDARD CHARTERED BANK, DHAKA
015 B00AA05 S
015 C01AA05 X
015 D01AA05 BANGLADESH
015 E04AA05 X
015 A00AA06 EUROCLEAR CLEARANCE SYSTEM S.C.
015 B00AA06 S
015 C01AA06 X
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 GENERALE DE BANQUE
015 B00AA07 S
015 C01AA07 X
015 D01AA07 BELGIUM
015 E04AA07 X
015 A00AA08 BARCLAYS BANK OF BOTSWANA LTD., GABORONE
015 B00AA08 S
015 C01AA08 X
015 D01AA08 BOTSWANA
015 E04AA08 X
015 A00AA09 BANCO DE BOSTON, SAO PAULO
015 B00AA09 S
015 C01AA09 SAO PAULO
015 D01AA09 BRAZIL
015 E04AA09 X
015 A00AA10 ROYAL TRUST CORPORATION OF CANADA, TORONTO
<PAGE> PAGE 3
015 B00AA10 S
015 C01AA10 X
015 D01AA10 CANADA
015 E04AA10 X
015 A00AA11 STANDARD CHARTERED BANK, SHANGHAI
015 B00AA11 S
015 C01AA11 X
015 D01AA11 CHINA
015 E04AA11 X
015 A00AA12 STANDARD CHARTERED BANK, SHENZHEN
015 B00AA12 S
015 C01AA12 X
015 D01AA12 CHINA
015 E04AA12 X
015 A00AA13 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA13 S
015 C01AA13 X
015 D01AA13 COLOMBIA
015 E04AA13 X
015 A00AA14 CITIBANK N.A., PRAGUE
015 B00AA14 S
015 C01AA14 X
015 D01AA14 CZECH REPUBLIC
015 E04AA14 X
015 A00AA15 UNIBANK, A.S.
015 B00AA15 S
015 C01AA15 X
015 D01AA15 DENMARK
015 E04AA15 X
015 A00AA16 CHASE MANHATTAN, N.A.
015 B00AA16 S
015 C01AA16 X
015 D01AA16 EGYPT
015 E04AA16 X
015 A00AA17 NATIONAL BANK OF EGYPT, CAIRO
015 B00AA17 S
015 C01AA17 X
015 D01AA17 EGYPT
015 E04AA17 X
015 A00AA18 EUROCLEAR CLEARANCE SYSTEM S.C.
015 B00AA18 S
015 C01AA18 X
015 D01AA18 FINLAND
015 E04AA18 X
015 A00AA19 KANSALLIS-OSAKE-PANKI, HELSINKI
015 B00AA19 S
015 C01AA19 X
015 D01AA19 FINLAND
015 E04AA19 X
015 A00AA20 BANQUE PARIBAS
015 B00AA20 S
<PAGE> PAGE 4
015 C01AA20 X
015 D01AA20 FRANCE
015 E04AA20 X
015 A00AA21 EUROCLEAR CLEARANCE SYSTEM S.C.
015 B00AA21 S
015 C01AA21 X
015 D01AA21 GERMANY
015 E04AA21 X
015 A00AA22 DEUTSCHE BANK A.G.
015 B00AA22 S
015 C01AA22 X
015 D01AA22 GERMANY
015 E04AA22 X
015 A00AA23 BARCLAYS BANK OF GHANA LTD., ACCRA
015 B00AA23 S
015 C01AA23 X
015 D01AA23 GHANA
015 E04AA23 X
015 A00AA24 CITIBANK, N.A. (GREECE) ATHENS
015 B00AA24 S
015 C01AA24 X
015 D01AA24 GREECE
015 E04AA24 X
015 A00AA25 STANDARD CHARTERED BANK, HONG KONG
015 B00AA25 S
015 C01AA25 X
015 D01AA25 HONG KONG
015 E04AA25 X
015 A00AA26 CITIBANK BUDAPEST RT.
015 B00AA26 S
015 C01AA26 X
015 D01AA26 HUNGARY
015 E04AA26 X
015 A00AA27 STANDARD CHARTERED BANK, JAKARTA
015 B00AA27 S
015 C01AA27 X
015 D01AA27 INDONESIA
015 E04AA27 X
015 A00AA28 BANK OF IRELAND SECURITIES SERVICES, DUBLIN
015 B00AA28 S
015 C01AA28 X
015 D01AA28 IRELAND
015 E04AA28 X
015 A00AA29 CHASE MANHATTAN BANK, N.A.
015 B00AA29 S
015 C01AA29 X
015 D01AA29 ISRAEL
015 E04AA29 X
015 A00AA30 BANK LEUMI LE-ISRAEL, TEL AVIV
015 B00AA30 S
015 C01AA30 X
<PAGE> PAGE 5
015 D01AA30 ISRAEL
015 E04AA30 X
015 A00AA31 CITIBANK, N.A., MILAN
015 B00AA31 S
015 C01AA31 X
015 D01AA31 ITALY
015 E04AA31 X
015 A00AA32 STANDARD CHARTERED BANK, TOKYO
015 B00AA32 S
015 C01AA32 X
015 D01AA32 JAPAN
015 E04AA32 X
015 A00AA33 CITIBANK, N.A., AMMAN
015 B00AA33 S
015 C01AA33 X
015 D01AA33 JORDAN
015 E04AA33 X
015 A00AA34 STANDARD CHARTERED BANK SEOUL
015 B00AA34 S
015 C01AA34 X
015 D01AA34 KOREA
015 E04AA34 X
015 A00AA35 EUROCLEAR CLEARANCE SYSTEM S.C.
015 B00AA35 S
015 C01AA35 X
015 D01AA35 LUXEMBOURG
015 E04AA35 X
015 A00AA36 STANDARD CHARTERED BANK OF MALAYSIA BERHAD
015 B00AA36 S
015 C01AA36 X
015 D01AA36 MALAYSIA
015 E04AA36 X
015 A00AA37 CHASE MANHATTAN, N.A.
015 B00AA37 S
015 C01AA37 X
015 D01AA37 MAURITIUS
015 E04AA37 X
015 A00AA38 HONGKONG SHANGHAI BANKING CORP.
015 B00AA38 S
015 C01AA38 X
015 D01AA38 MAURITIUS
015 E04AA38 X
015 A00AA39 BANCOMER, S.A.
015 B00AA39 S
015 C01AA39 X
015 D01AA39 MEXICO
015 E04AA39 X
015 A00AA40 CHASE MANHATTAN, N.A.
015 B00AA40 S
015 C01AA40 X
015 D01AA40 MOROCCO
<PAGE> PAGE 6
015 E04AA40 X
015 A00AA41 BANQUE COMMERCIAL DU MAROC
015 B00AA41 S
015 C01AA41 X
015 D01AA41 MOROCCO
015 E04AA41 X
015 A00AA42 MEES PIERSON
015 B00AA42 S
015 C01AA42 X
015 D01AA42 NETHERLANDS
015 E04AA42 X
015 A00AA43 NATIONAL AUSTRALIA BANK
015 B00AA43 S
015 C01AA43 X
015 D01AA43 NEW ZEALAND
015 E04AA43 X
015 A00AA44 EUROCLEAR CLEARANCE SYSTEM S.C.
015 B00AA44 S
015 C01AA44 X
015 D01AA44 NORWAY
015 E04AA44 X
015 A00AA45 CHRISTIANA BANK
015 B00AA45 S
015 C01AA45 X
015 D01AA45 NORWAY
015 E04AA45 X
015 A00AA46 STANDARD CHARTERED BANK, KARACHI
015 B00AA46 S
015 C01AA46 X
015 D01AA46 PAKISTAN
015 E04AA46 X
015 A00AA47 CITIBANK, N.A., LIMA
015 B00AA47 S
015 C01AA47 X
015 D01AA47 PERU
015 E04AA47 X
015 A00AA48 STANDARD CHARTERED BANK, MANILA
015 B00AA48 S
015 C01AA48 X
015 D01AA48 PHILIPPINES
015 E04AA48 X
015 A00AA49 CITIBANK POLAND S.A., WARSAW
015 B00AA49 S
015 C01AA49 X
015 D01AA49 POLAND
015 E04AA49 X
015 A00AA50 CITIBANK PORTUGAL S.A., LISBON
015 B00AA50 S
015 C01AA50 X
015 D01AA50 PORTUGAL
015 E04AA50 X
<PAGE> PAGE 7
015 A00AA51 STANDARD CHARTERED BANK, SINGAPORE
015 B00AA51 S
015 C01AA51 X
015 D01AA51 SINGAPORE
015 E04AA51 X
015 A00AA52 THE STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA52 S
015 C01AA52 X
015 D01AA52 SOUTH AFRICA
015 E04AA52 X
015 A00AA53 BANQUE PARIBAS
015 B00AA53 S
015 C01AA53 X
015 D01AA53 SPAIN
015 E04AA53 X
015 A00AA54 STANDARD CHARTERED BANK, COLOMBO
015 B00AA54 S
015 C01AA54 COLOMBO
015 D01AA54 SRI LANKA
015 E04AA54 X
015 A00AA55 SVENSKA HANDELSBANKEN S.C.
015 B00AA55 S
015 C01AA55 X
015 D01AA55 SWEDEN
015 E04AA55 X
015 A00AA56 BANK LEU LTD.
015 B00AA56 S
015 C01AA56 X
015 D01AA56 SWITZERLAND
015 E04AA56 X
015 A00AA57 STANDARD CHARTERED BANK, TAIPEI
015 B00AA57 S
015 C01AA57 X
015 D01AA57 TAIWAN
015 E04AA57 X
015 A00AA58 STANDARD CHARTERED BANK, BANGKOK
015 B00AA58 S
015 C01AA58 X
015 D01AA58 THAILAND
015 E04AA58 X
015 A00AA59 CHASE MANHATTAN N.A., ISTANBUL
015 B00AA59 S
015 C01AA59 X
015 D01AA59 TURKEY
015 E04AA59 X
015 A00AA60 BARCLAYS BANK PLC
015 B00AA60 S
015 C01AA60 X
015 D01AA60 UNITED KINGDOM
015 E04AA60 X
015 A00AA61 FIRST CHICAGO CLEARING CENTRE
<PAGE> PAGE 8
015 B00AA61 S
015 C01AA61 X
015 D01AA61 UNITED KINGDOM
015 E04AA61 X
015 A00AA62 CITIBANK, N.A., CARACAS
015 B00AA62 S
015 C01AA62 X
015 D01AA62 VENEZUELA
015 E04AA62 X
015 A00AA63 BARCLAYS BANK PLC
015 B00AA63 S
015 C01AA63 X
015 D01AA63 ZAMBIA
015 E04AA63 X
015 A00AA64 BARCLAYS BANK PLC
015 B00AA64 S
015 C01AA64 X
015 D01AA64 ZIMBABWE
015 E04AA64 X
015 A00AA65 CITIBANK N.A. QUITO
015 B00AA65 S
015 C01AA65 X
015 D01AA65 ECUADOR
015 E04AA65 X
015 A00AA66 EUROCLEAR CLEARANCE SYSTEM S.C.
015 B00AA66 S
015 C01AA66 X
015 D01AA66 N/A
015 E04AA66 X
015 A00AA67 BARCLAYS BANK PLC
015 B00AA67 S
015 C01AA67 X
015 D01AA67 GHANA
015 E04AA67 X
015 A00AA68 BANQUE ET CAISSE D'ESPARGNE DE L'ETAT
015 B00AA68 S
015 C01AA68 X
015 D01AA68 LUXEMBOURG
015 E04AA68 X
015 A00AA69 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA69 S
015 C01AA69 X
015 D01AA69 SLOVAK REPUBLIC
015 E04AA69 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH INC
020 C000001 6
020 A000002 DEAN WITTER, REYNOLDS, INC.
020 C000002 5
<PAGE> PAGE 9
020 A000003 ESI SECURITIES, INC.
020 C000003 5
020 A000004 UST SECURITIES CORP.
020 C000004 4
020 A000005 INVESTMENT TECHNOLOGY GROUP
020 C000005 4
020 A000006 MORGAN STANLEY & CO. INC..
020 C000006 2
020 A000007 SALOMON BROTHERS INC.
020 C000007 2
020 A000008 CANTOR FITZGERALD & CO. INC.
020 C000008 2
020 A000009 FIRST BOSTON
020 C000009 2
020 A000010 DUNLEVY & COMPANY, INC.
020 C000010 2
021 000000 69
022 A000001 CANTOR FITZGERALD & CO. INC.
022 C000001 0
022 D000001 0
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022 C000002 540599
022 D000002 193750
022 A000003 NATWEST SECURITIES CORPORATION
022 C000003 76581
022 D000003 28617
022 A000004 COMMONWEALTH BANK OF AUSTRALIA
022 C000004 12059
022 D000004 3896
022 A000005 DJ CAPITAL MARKETS
022 C000005 5541
022 D000005 8377
022 A000006 PERSHING DIVISION OF DLJ
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022 D000006 1632
022 A000007 UBS SECURITIES
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022 D000007 2992
022 A000008 BANK OF MONTREAL
022 C000008 6706
022 D000008 735
022 A000009 ING BARING SECURITIES
022 C000009 4621
022 D000009 1532
022 A000010 DEUTSCHE BANK SECURITIES
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<PAGE> PAGE 10
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052 00AA00 N
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054 E00AA00 N
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<PAGE> PAGE 11
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054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
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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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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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SIGNATURE RONALD E. GWOZDZ
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FUND'S
FINANCIAL STATEMENTS DATED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000927972
<NAME> THE DLB FUND GROUP
<SERIES>
<NUMBER> 1
<NAME> THE DLB FIXED INCOME FUND
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FUND'S
FINANCIAL STATEMENTS DATED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000927972
<NAME> THE DLB FUND GROUP
<SERIES>
<NUMBER> 2
<NAME> THE DLB GLOBAL SMALL CAPITALIZATION FUND
<S> <C>
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<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 11,659,774
<INVESTMENTS-AT-VALUE> 13,726,728
<RECEIVABLES> 48,386
<ASSETS-OTHER> 14,369
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13,789,483
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 58,149
<TOTAL-LIABILITIES> 58,149
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12,079,463
<SHARES-COMMON-STOCK> 1,186,935
<SHARES-COMMON-PRIOR> 1,124,924
<ACCUMULATED-NII-CURRENT> 22,276
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (436,849)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,066,444
<NET-ASSETS> 13,731,334
<DIVIDEND-INCOME> 106,062
<INTEREST-INCOME> 9,367
<OTHER-INCOME> 0
<EXPENSES-NET> 92,799
<NET-INVESTMENT-INCOME> 22,630
<REALIZED-GAINS-CURRENT> (392,043)
<APPREC-INCREASE-CURRENT> 826,399
<NET-CHANGE-FROM-OPS> 456,986
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 73,200
<NUMBER-OF-SHARES-REDEEMED> 11,189
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,145,730
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 354
<OVERDIST-NET-GAINS-PRIOR> 44,806
<GROSS-ADVISORY-FEES> 61,901
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 142,419
<AVERAGE-NET-ASSETS> 12,572
<PER-SHARE-NAV-BEGIN> 11.19
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> .36
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.57
<EXPENSE-RATIO> 1.50
<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 FUND'S
FINANCIAL STATEMENTS DATED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000927972
<NAME> THE DLB FUND GROUP
<SERIES>
<NUMBER> 3
<NAME> THE DLB VALUE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 30,308,383
<INVESTMENTS-AT-VALUE> 36,689,176
<RECEIVABLES> 228,274
<ASSETS-OTHER> 1,242
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 36,918,692
<PAYABLE-FOR-SECURITIES> 886,174
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 54,330
<TOTAL-LIABILITIES> 940,504
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29,190,610
<SHARES-COMMON-STOCK> 2,521,255
<SHARES-COMMON-PRIOR> 1,534,983
<ACCUMULATED-NII-CURRENT> 194,105
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 212,680
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,380,793
<NET-ASSETS> 35,978,188
<DIVIDEND-INCOME> 245,978
<INTEREST-INCOME> 56,319
<OTHER-INCOME> 0
<EXPENSES-NET> 108,192
<NET-INVESTMENT-INCOME> 194,105
<REALIZED-GAINS-CURRENT> 240,368
<APPREC-INCREASE-CURRENT> 3,415,316
<NET-CHANGE-FROM-OPS> 3,849,789
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,021,223
<NUMBER-OF-SHARES-REDEEMED> 34,951
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,750,086
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27,688
<GROSS-ADVISORY-FEES> 74,647
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 144,846
<AVERAGE-NET-ASSETS> 28,617
<PER-SHARE-NAV-BEGIN> 12.53
<PER-SHARE-NII> .09
<PER-SHARE-GAIN-APPREC> 1.65
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.27
<EXPENSE-RATIO> .80
<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 FUND'S
FINANCIAL STATEMENTS DATED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000927972
<NAME> THE DLB FUND GROUP
<SERIES>
<NUMBER> 4
<NAME> THE DLB MID CAPITALIZATION FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 14,084,324
<INVESTMENTS-AT-VALUE> 17,470,088
<RECEIVABLES> 42,791
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,512,879
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40,089
<TOTAL-LIABILITIES> 40,089
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,510,718
<SHARES-COMMON-STOCK> 1,300,871
<SHARES-COMMON-PRIOR> 1,189,227
<ACCUMULATED-NII-CURRENT> 70,334
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 505,974
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,385,764
<NET-ASSETS> 17,472,790
<DIVIDEND-INCOME> 114,287
<INTEREST-INCOME> 23,783
<OTHER-INCOME> 0
<EXPENSES-NET> 67,379
<NET-INVESTMENT-INCOME> 70,691
<REALIZED-GAINS-CURRENT> 506,342
<APPREC-INCREASE-CURRENT> 1,873,973
<NET-CHANGE-FROM-OPS> 2,415,006
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 131,797
<NUMBER-OF-SHARES-REDEEMED> 20,153
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 111,644
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 368
<OVERDIST-NET-GAINS-PRIOR> 357
<GROSS-ADVISORY-FEES> 44,996
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 114,152
<AVERAGE-NET-ASSETS> 15,324
<PER-SHARE-NAV-BEGIN> 11.51
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 1.89
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.43
<EXPENSE-RATIO> .90
<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 FUND'S
FINANCIAL STATEMENTS DATED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000927972
<NAME> THE DLB FUND GROUP
<SERIES>
<NUMBER> 5
<NAME> THE DLB QUANTITATIVE EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 14,753,047
<INVESTMENTS-AT-VALUE> 19,359,667
<RECEIVABLES> 127,406
<ASSETS-OTHER> 62,892
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,549,965
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,031
<TOTAL-LIABILITIES> 36,031
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,122,614
<SHARES-COMMON-STOCK> 1,371,068
<SHARES-COMMON-PRIOR> 1,192,076
<ACCUMULATED-NII-CURRENT> 34,529
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 750,171
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,606,620
<NET-ASSETS> 19,513,934
<DIVIDEND-INCOME> 102,836
<INTEREST-INCOME> 3,211
<OTHER-INCOME> 0
<EXPENSES-NET> 77,353
<NET-INVESTMENT-INCOME> 28,694
<REALIZED-GAINS-CURRENT> 604,365
<APPREC-INCREASE-CURRENT> 2,813,563
<NET-CHANGE-FROM-OPS> 3,446,622
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 179,232
<NUMBER-OF-SHARES-REDEEMED> 240
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,616,637
<ACCUMULATED-NII-PRIOR> 5,835
<ACCUMULATED-GAINS-PRIOR> 145,806
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 64,580
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 143,857
<AVERAGE-NET-ASSETS> 17,707
<PER-SHARE-NAV-BEGIN> 11.66
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 2.55
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.23
<EXPENSE-RATIO> .90
<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 FUND'S
FINANCIAL STATEMENTS DATED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000927972
<NAME> THE DLB FUND GROUP
<SERIES>
<NUMBER> 6
<NAME> THE DLB GLOBAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 31,125,952
<INVESTMENTS-AT-VALUE> 30,350,178
<RECEIVABLES> 671,840
<ASSETS-OTHER> 19,605
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 31,041,623
<PAYABLE-FOR-SECURITIES> 3,904,036
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 74,939
<TOTAL-LIABILITIES> 3,978,975
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,654,121
<SHARES-COMMON-STOCK> 2,665,548
<SHARES-COMMON-PRIOR> 2,582,959
<ACCUMULATED-NII-CURRENT> 701,463
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 484,916
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (777,852)
<NET-ASSETS> 27,062,648
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 864,927
<OTHER-INCOME> 0
<EXPENSES-NET> 105,998
<NET-INVESTMENT-INCOME> 758,929
<REALIZED-GAINS-CURRENT> 551,881
<APPREC-INCREASE-CURRENT> (878,789)
<NET-CHANGE-FROM-OPS> 432,021
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 82,689
<NUMBER-OF-SHARES-REDEEMED> 100
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,257,382
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 57,466
<OVERDIST-NET-GAINS-PRIOR> 66,965
<GROSS-ADVISORY-FEES> 99,416
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 191,277
<AVERAGE-NET-ASSETS> 26,870
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> .29
<PER-SHARE-GAIN-APPREC> (.13)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.15
<EXPENSE-RATIO> .80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
