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<PAGE> PAGE 2
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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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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
050 000400 N
051 000400 Y
052 000400 N
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054 A000400 Y
054 B000400 Y
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054 E000400 N
054 F000400 N
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054 H000400 N
054 I000400 N
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054 K000400 N
054 L000400 N
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054 O000400 N
055 A000400 N
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056 000400 Y
057 000400 N
058 A000400 N
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<PAGE> PAGE 26
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066 F000400 N
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067 000400 N
068 A000400 N
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<PAGE> PAGE 27
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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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SIGNATURE KATHY THREN
TITLE COUNSEL
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<TABLE> <S> <C>
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<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 022
<NAME> SMALL CAP VALUE PORTFOLIO - CLASS C
<S> <C>
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 023
<NAME> SMALL CAP VALUE PORTFOLIO - CLASS Y
<S> <C>
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<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
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<NET-INVESTMENT-INCOME> (296012)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 031
<NAME> TOTAL RETURN BOND PORTFOLIO - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 17731801
<INVESTMENTS-AT-VALUE> 17430846
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 032
<NAME> TOTAL RETURN BOND PORTFOLIO - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 033
<NAME> TOTAL RETURN BOND PORTFOLIO - CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 041
<NAME> INSIDERS SELECT PORTFOLIO - CLASS A
<S> <C>
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<FISCAL-YEAR-END> MAR-31-1997
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
<SERIES>
<NUMBER> 042
<NAME> INSIDERS SELECT PORTFOLIO - CLASS C
<S> <C>
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<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
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<NUMBER> 043
<NAME> INSIDERS SELECT PORTFOLIO - CLASS Y
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931145
<NAME> THE BEAR STEARNS FUNDS
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<NUMBER> 051
<NAME> S & P STARS PORTFOLIO - CLASS A
<S> <C>
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