IBJ FUNDS TRUST
NSAR-B, 1996-01-24
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<PAGE>      PAGE  1
000 B000000 11/30/95
000 C000000 0000929189
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 IBJ FUNDS TRUST
001 B000000 811-8738
001 C000000 8009942533
002 A000000 237 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 IBJ RESERVE MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 IBJ BOND FUND
007 C030200 N
007 C010300  3
007 C020300 IBJ CORE EQUITY FUND
007 C030300 N
007 C010400  4
007 C020400 IBJ GROWTH AND INCOME FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 IBJ SCHRODER BANK AND TRUST
008 B00AA01 A
008 C00AA01 801-000000
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10004
010 A00AA01 FURMAN SELZ LLC
010 B00AA01 17741
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10017
<PAGE>      PAGE  2
011 A00AA01 IBJ FUNDS DISTRIBUTOR INCORPORATED
011 B00AA01 8-47731
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10017
012 A00AA01 FURMAN SELZ LLC
012 B00AA01 84-0000000
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10017
013 A00AA01 COOPERS & LYBRAND LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
015 A00AA01 IBJ SCHRODER BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10004
015 E03AA01 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
019 C00AA00 IBJTRUSTFD
020 A000001 BROADCORT CAPITAL CORP
020 B000001 13-3144415
020 C000001     32
020 A000002 STANDARD & POOR'S SECURITIES INC.
020 B000002 13-2671951
020 C000002     20
020 A000003 ESI SECURITIES CO.
020 C000003     19
020 A000004 BEAR STEARNS & CO.
020 B000004 13-3299429
020 C000004     17
020 A000005 AUTRANET INC.
020 B000005 13-2961507
020 C000005     16
020 A000006 RONEY & CO.
020 C000006      5
020 A000007 MCDONALD & CO. SECURITIES
020 B000007 34-0642435
020 C000007      5
020 A000008 DONALDSON LUFKIN & JENRETTE SECURITIES
020 B000008 13-2741729
020 C000008      5
020 A000009 BROWN (ALEX) & SONS INC.
020 B000009 52-1319768
020 C000009      4
020 A000010 FIRST BOSTON CORP.
020 B000010 13-5659485
<PAGE>      PAGE  3
020 C000010      4
021  000000      151
022 A000001 MERRILL LYNCH PIERCE FENNER & SMITH INC
022 B000001 13-5674085
022 C000001     93180
022 D000001     39986
022 A000002 BZW CANADA LIMITED
022 B000002 13-3551367
022 C000002     58227
022 D000002     24532
022 A000003 ARBOR TRADING GROUP INC
022 B000003 36-3540782
022 C000003     20661
022 D000003     22001
022 A000004 MORGAN STANLEY & CO INC
022 B000004 13-2655998
022 C000004     40294
022 D000004       284
022 A000005 CLARKE (G.X.) & COMPANY
022 B000005 13-2969143
022 C000005     12287
022 D000005     20598
022 A000006 SALOMON BROTHERS INC.
022 B000006 13-3082694
022 C000006     26961
022 D000006      5804
022 A000007 DIRECTED SERVICES, INC.
022 C000007     29121
022 D000007         0
022 A000008 SANWA BGK SECURITIES CO. LP
022 B000008 13-3046258
022 C000008     24925
022 D000008      1495
022 A000009 NATIONSBANK
022 B000009 75-0520130
022 C000009     16597
022 D000009      8531
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
022 C000010     18564
022 D000010      4457
023 C000000     340817
023 D000000     127688
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
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025 D00AA07       0
<PAGE>      PAGE  4
025 D00AA08       0
026 A000000 N
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026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY OF PA.
080 C00AA00   600000
081 A00AA00 N
081 B00AA00   0
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083 A00AA00 N
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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053 C000100 N
054 A000100 N
054 B000100 N
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
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055 B000100 N
056  000100 Y
057  000100 N
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062 C000100  45.1
<PAGE>      PAGE  7
062 D000100   0.0
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062 L000100   1.9
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062 P000100   0.0
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064 A000100 N
066 A000100 N
067  000100 N
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068 B000100 N
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070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
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070 L020100 N
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070 M020100 N
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070 N020100 N
<PAGE>      PAGE  8
070 O010100 N
070 O020100 N
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070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
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<PAGE>      PAGE  9
074 C000100    28119
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<PAGE>      PAGE  10
028 F010200       103
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028 F030200         0
028 F040200        71
028 G010200      6606
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031 A000200      0
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033  000200      0
034  000200 N
035  000200      0
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 N
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042 B000200   0
042 C000200   0
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
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<PAGE>      PAGE  11
048 G010200        0
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048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 N
054 A000200 N
054 B000200 N
054 C000200 N
054 D000200 N
054 E000200 N
054 F000200 N
054 G000200 N
054 H000200 Y
054 I000200 N
054 J000200 Y
054 K000200 N
054 L000200 N
054 M000200 Y
054 N000200 N
054 O000200 N
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
058 A000200 N
059  000200 Y
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<PAGE>      PAGE  12
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066 A000200 N
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070 B020200 N
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070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
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070 N010200 Y
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070 O010200 N
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
029  000300 N
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<PAGE>      PAGE  16
048 K020300 0.000
049  000300 N
050  000300 N
051  000300 N
052  000300 N
053 A000300 N
054 A000300 N
054 B000300 N
054 C000300 N
054 D000300 N
054 E000300 N
054 F000300 N
054 G000300 N
054 H000300 Y
054 I000300 N
054 J000300 Y
054 K000300 N
054 L000300 N
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054 N000300 N
054 O000300 N
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056  000300 Y
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058 A000300 N
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<PAGE>      PAGE  17
066 B000300 N
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066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
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070 E020300 N
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070 F020300 N
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070 H020300 N
070 I010300 N
070 I020300 N
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070 K010300 Y
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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028 B030400         0
028 B040400       194
028 C010400       136
028 C020400       347
028 C030400         0
028 C040400       299
028 D010400      1150
028 D020400         0
028 D030400         0
028 D040400      2319
028 E010400       408
028 E020400         0
028 E030400         0
028 E040400       248
028 F010400       325
028 F020400       377
028 F030400         0
028 F040400       551
028 G010400     11732
028 G020400       724
028 G030400         0
028 G040400      4388
028 H000400         0
029  000400 N
030 A000400      0
030 B000400  0.00
030 C000400  0.00
<PAGE>      PAGE  20
031 A000400      0
031 B000400      0
032  000400      0
033  000400      0
034  000400 N
035  000400      0
036 B000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 N
042 A000400   0
042 B000400   0
042 C000400   0
042 D000400   0
042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
043  000400      0
044  000400      0
045  000400 Y
046  000400 N
047  000400 Y
048  000400  0.600
048 A010400        0
048 A020400 0.000
048 B010400        0
048 B020400 0.000
048 C010400        0
048 C020400 0.000
048 D010400        0
048 D020400 0.000
048 E010400        0
048 E020400 0.000
048 F010400        0
048 F020400 0.000
048 G010400        0
048 G020400 0.000
048 H010400        0
048 H020400 0.000
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
<PAGE>      PAGE  21
052  000400 N
053 A000400 N
054 A000400 N
054 B000400 N
054 C000400 N
054 D000400 N
054 E000400 N
054 F000400 N
054 G000400 N
054 H000400 Y
054 I000400 N
054 J000400 Y
054 K000400 N
054 L000400 N
054 M000400 Y
054 N000400 N
054 O000400 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
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400   0.0
062 N000400   0.0
062 O000400   0.0
062 P000400   0.0
062 Q000400   0.0
062 R000400   0.0
063 A000400   0
063 B000400  0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 Y
<PAGE>      PAGE  22
066 F000400 N
066 G000400 N
067  000400 Y
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
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 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400     68828
071 B000400     28188
071 C000400     36301
071 D000400   78
072 A000400 10
072 B000400     1081
072 C000400      383
072 D000400        0
072 E000400        0
<PAGE>      PAGE  23
072 F000400      214
072 G000400       53
072 H000400        0
072 I000400        2
072 J000400       10
072 K000400        0
072 L000400        4
072 M000400        4
072 N000400       13
072 O000400        0
072 P000400        0
072 Q000400       40
072 R000400       18
072 S000400       20
072 T000400        0
072 U000400        5
072 V000400        0
072 W000400       27
072 X000400      410
072 Y000400       36
072 Z000400     1090
072AA000400     1173
072BB000400        0
072CC010400     5730
072CC020400        0
072DD010400        0
072DD020400     1102
072EE000400        0
073 A010400   0.2800
073 A020400   0.3100
073 B000400   0.0000
073 C000400   0.0000
074 A000400        9
074 B000400        0
074 C000400     2227
074 D000400    19739
074 E000400        0
074 F000400    27513
074 G000400        0
074 H000400        0
074 I000400      999
074 J000400      282
074 K000400        0
074 L000400      391
074 M000400       24
074 N000400    51184
074 O000400      443
074 P000400       27
074 Q000400        0
074 R010400        0
074 R020400        0
<PAGE>      PAGE  24
074 R030400        0
074 R040400      116
074 S000400        0
074 T000400    50598
074 U010400        1
074 U020400     4292
074 V010400    11.78
074 V020400    11.79
074 W000400   0.0000
074 X000400       35
074 Y000400        0
075 A000400        0
075 B000400    43131
076  000400     0.00
SIGNATURE   JOHN J. PILEGGI                              
TITLE       PRESIDENT           
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 011
   <NAME> IBJ RESERVE MONEY MARKET FUND - PREMIUM CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            28675
<INVESTMENTS-AT-VALUE>                           28675
<RECEIVABLES>                                       49
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<NET-ASSETS>                                        13
<DIVIDEND-INCOME>                                    0
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<NET-INVESTMENT-INCOME>                           1127
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<EXPENSE-RATIO>                                    .64
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 012
   <NAME> IBJ RESERVE MONEY MARKET FUND - SERVICE CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            28675
<INVESTMENTS-AT-VALUE>                           28675
<RECEIVABLES>                                       49
<ASSETS-OTHER>                                     285
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   29009
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<PAID-IN-CAPITAL-COMMON>                         28930
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<NET-ASSETS>                                     28943
<DIVIDEND-INCOME>                                    0
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<NET-INVESTMENT-INCOME>                           1127
<REALIZED-GAINS-CURRENT>                           (3)
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<NUMBER-OF-SHARES-REDEEMED>                      38953
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<PER-SHARE-NII>                                    .04
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<EXPENSE-RATIO>                                    .64
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 021
   <NAME> IBJ BOND FUND - PREMIUM CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            25992
<INVESTMENTS-AT-VALUE>                           26714
<RECEIVABLES>                                      709
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<TOTAL-ASSETS>                                   27454
<PAYABLE-FOR-SECURITIES>                           514
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                                591
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         25184
<SHARES-COMMON-STOCK>                                1
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            955
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           722
<NET-ASSETS>                                        14
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     219
<NET-INVESTMENT-INCOME>                           1088
<REALIZED-GAINS-CURRENT>                           955
<APPREC-INCREASE-CURRENT>                          722
<NET-CHANGE-FROM-OPS>                             2765
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
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<NET-CHANGE-IN-ASSETS>                               2
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                               97
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    238
<AVERAGE-NET-ASSETS>                                13
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .48
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .72
<PER-SHARE-DISTRIBUTIONS>                          .48
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.72
<EXPENSE-RATIO>                                   1.12
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 022
   <NAME> IBJ BOND FUND - SERVICE CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            25992
<INVESTMENTS-AT-VALUE>                           26714
<RECEIVABLES>                                      709
<ASSETS-OTHER>                                      31
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   27454
<PAYABLE-FOR-SECURITIES>                           514
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           77
<TOTAL-LIABILITIES>                                591
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         25184
<SHARES-COMMON-STOCK>                             2505
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            955
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           722
<NET-ASSETS>                                     26849
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 1307
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     219
<NET-INVESTMENT-INCOME>                           1088
<REALIZED-GAINS-CURRENT>                           955
<APPREC-INCREASE-CURRENT>                          722
<NET-CHANGE-FROM-OPS>                             2765
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1087
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           2930
<NUMBER-OF-SHARES-REDEEMED>                        530
<SHARES-REINVESTED>                                104
<NET-CHANGE-IN-ASSETS>                           26836
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               97
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    238
<AVERAGE-NET-ASSETS>                             23424
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .48
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .72
<PER-SHARE-DISTRIBUTIONS>                          .48
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.72
<EXPENSE-RATIO>                                   1.12
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 031
   <NAME> IBJ CORE EQUITY FUND - PREMIUM CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            70307
<INVESTMENTS-AT-VALUE>                           86644
<RECEIVABLES>                                      273
<ASSETS-OTHER>                                      36
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   86953
<PAYABLE-FOR-SECURITIES>                           182
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          158
<TOTAL-LIABILITIES>                                340
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         66374
<SHARES-COMMON-STOCK>                                1
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          840
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           3055
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         16337
<NET-ASSETS>                                        16
<DIVIDEND-INCOME>                                 1247
<INTEREST-INCOME>                                  168
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     575
<NET-INVESTMENT-INCOME>                            840
<REALIZED-GAINS-CURRENT>                          3055
<APPREC-INCREASE-CURRENT>                        16337
<NET-CHANGE-FROM-OPS>                            20232
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               4
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              388
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    640
<AVERAGE-NET-ASSETS>                                14
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           2.84
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.97
<EXPENSE-RATIO>                                    .89
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 032
   <NAME> IBJ CORE EQUITY FUND - SERVICE CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            70307
<INVESTMENTS-AT-VALUE>                           86644
<RECEIVABLES>                                      273
<ASSETS-OTHER>                                      36
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   86953
<PAYABLE-FOR-SECURITIES>                           182
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          158
<TOTAL-LIABILITIES>                                340
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         66372
<SHARES-COMMON-STOCK>                             6675
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          840
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           3055
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         16337
<NET-ASSETS>                                     86596
<DIVIDEND-INCOME>                                 1247
<INTEREST-INCOME>                                  168
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     575
<NET-INVESTMENT-INCOME>                            840
<REALIZED-GAINS-CURRENT>                          3055
<APPREC-INCREASE-CURRENT>                        16337
<NET-CHANGE-FROM-OPS>                            20232
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           8685
<NUMBER-OF-SHARES-REDEEMED>                       2011
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           86584
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              388
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    640
<AVERAGE-NET-ASSETS>                                14
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           2.84
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.97
<EXPENSE-RATIO>                                    .89
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 041
   <NAME> IBJ GROWTH & INCOME FUND - PREMIUM CLASS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   10-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-END>                               NOV-30-1995
<INVESTMENTS-AT-COST>                            44749
<INVESTMENTS-AT-VALUE>                           50478
<RECEIVABLES>                                      673
<ASSETS-OTHER>                                      33
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   51184
<PAYABLE-FOR-SECURITIES>                           443
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</TABLE>

<TABLE> <S> <C>

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   <NAME> IBJ GROWTH & INCOME FUND - SERVICE CLASS
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<S>                             <C>
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</TABLE>


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