PEGASUS VARIABLE FUNDS
NSAR-B, 1999-03-01
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<PAGE>      PAGE  1
000 B000000 12/31/1998
000 C000000 0000932736
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE PEGASUS VARIABLE FUNDS
001 B000000 811-8854
001 C000000 6142497869
002 A000000 C/O NATIONWIDE ADVISORY SERVICES, INC.
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43215
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C010200  2
007 C020200 PEGASUS GROWTH AND VALUE FUND
007 C030200 N
007 C010300  3
007 C020300 PEGASUS MID-CAP OPPORTUNITY FUND
007 C030300 N
007 C010400  4
007 C020400 PEGASUS GROWTH FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C020600 PEGASUS INTRINSIC VALUE FUND
007 C030600 N
007 C010700  7
007 C020700 PEGASUS BOND FUND
007 C030700 N
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FIRST CHICAGO NBD INVESTMENT MANAGEMENT CO.
008 B00AA01 A
008 C00AA01 801-5148
008 D01AA01 CHICAGO
008 D02AA01 IL
008 D03AA01 60670
010 A00AA01 FIRST CHICAGO NBD INVESTMENT MANAGEMENT CO.
010 B00AA01 801-5148
010 C01AA01 CHCAGO
<PAGE>      PAGE  2
010 C02AA01 IL
010 C03AA01 60670
011 A00AA01 BISYS
011 B00AA01 8-17209
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
011 C04AA01 3035
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
012 B00AA01 84-5148
012 C01AA01 WESTBOROUGH
012 C02AA01 MA
012 C03AA01 01581
012 C04AA01 5120
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 DETROIT
013 B02AA01 MI
013 B03AA01 48226
013 B04AA01 3424
014 A00AA01 FIRST CHICAGO NBD, INC. INVESTMENT SERVICES
014 B00AA01 8-50985
014 A00AA02 RONEY & CO
014 B00AA02 8-50985
015 A00AA01 STATE STREET BANK AND TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 C04AA01 8500
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 PAINEWEBBER MITCHELL HUTCHINS INC
020 B000001 13-2638166
020 C000001     26
020 A000002 STATE STREET
020 B000002 04-1867445
020 C000002     17
020 A000003 DONALDSON LUFKIN
020 B000003 13-2741729
020 C000003     10
020 A000004 BEAR STEARNS
020 B000004 13-4946705
020 C000004     13
020 A000005 GOLDMAN SACHS
020 B000005 13-5108880
020 C000005      5
020 A000006 FRANK RUSSELL SECURITIES, INC
020 B000006 91-1175091
020 C000006      5
<PAGE>      PAGE  3
020 A000007 ROBINSON, HUMPREY CO INC.
020 B000007 58-1472560
020 C000007      5
020 A000008 CHICAGO CORP
020 B000008 13-3227945
020 C000008      4
020 A000009 SG COWEN & CO
020 B000009 13-5616116
020 C000009      4
020 A000010 OPPENHEIMER
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020 C000010      3
021  000000      140
022 A000001 STATE STREET
022 B000001 04-1867445
022 C000001     90210
022 D000001      1579
022 A000002 PAINE WEBBER MITCHELL HUTCHINS INC
022 B000002 13-2638166
022 C000002     16684
022 D000002       862
022 A000003 BEAR STEARNS
022 B000003 13-4946705
022 C000003      8120
022 D000003      3372
022 A000004 SALOMON BROTHERS
022 B000004 13-3082694
022 C000004      8586
022 D000004      1412
022 A000005 DLJ CAPITAL MARKETS
022 B000005 13-2741729
022 C000005      3975
022 D000005      1762
022 A000006 MERRILL LYNCH
022 B000006 13-5674085
022 C000006      4595
022 D000006        95
022 A000007 SANFORD BERSTEIN
022 B000007 13-2625874
022 C000007      2549
022 D000007      1126
022 A000008 GOLDMAN SACHS
022 B000008 13-5108880
022 C000008      1231
022 D000008      2351
022 A000009 ROBINSON, HUMPHREY
022 B000009 58-1472560
022 C000009      2536
022 D000009      1015
022 A000010 CHICAGO CORP
022 B000010 13-3227945
<PAGE>      PAGE  4
022 C000010      2731
022 D000010       520
023 C000000     178755
023 D000000      31925
024  00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
029  00AA00 N
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
032  00AA00      0
033  00AA00      0
034  00AA00 N
035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 N
041  00AA00 N
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042 B00AA00   0
042 C00AA00   0
042 D00AA00   0
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
043  00AA00      0
044  00AA00      0
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
<PAGE>      PAGE  5
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
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058 B00AA00 Y
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058 D00AA00 N
058 E00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     1000
077 A000000 Y
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077 D000000 N
077 E000000 N
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077 H000000 N
077 I000000 N
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080 A00AA00 JOHNSON & HIGGINS
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084 A00AA00 N
084 B00AA00        0
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085 B00AA00 N
<PAGE>      PAGE  6
086 A010000      0
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086 F020000      0
028 A010200      1104
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028 E030200         0
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028 F010200       697
028 F020200        81
028 F030200         0
028 F040200      1134
028 G010200      5993
028 G020200       272
028 G030200         0
028 G040200      1508
028 H000200         0
045  000200 Y
046  000200 N
047  000200 Y
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048 A010200        0
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048 C010200        0
048 C020200 0.000
<PAGE>      PAGE  7
048 D010200        0
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048 F010200        0
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048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
062 A000200 N
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
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062 O000200   0.0
062 P000200   0.0
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066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
066 E000200 N
066 F000200 N
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
<PAGE>      PAGE  8
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
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
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200     34179
071 B000200     20314
071 C000200     47027
071 D000200   43
072 A000200 12
072 B000200      133
072 C000200      675
072 D000200        0
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<PAGE>      PAGE  9
072 N000200        0
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072AA000200     1449
072BB000200        0
072CC010200     4451
072CC020200        0
072DD010200      356
072DD020200        0
072EE000200     1328
073 A010200   0.1200
073 A020200   0.0000
073 B000200   0.4100
073 C000200   0.0000
074 A000200       57
074 B000200     1675
074 C000200        0
074 D000200        0
074 E000200        0
074 F000200    57585
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200      250
074 K000200        0
074 L000200       54
074 M000200        4
074 N000200    59625
074 O000200        0
074 P000200        0
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200       65
074 S000200        0
074 T000200    59560
074 U010200     3345
074 U020200        0
074 V010200    17.80
074 V020200     0.00
<PAGE>      PAGE  10
074 W000200   0.0000
074 X000200        3
074 Y000200        0
075 A000200        0
075 B000200    58015
076  000200     0.00
028 A010300       360
028 A020300         0
028 A030300         0
028 A040300         0
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028 B030300         0
028 B040300         1
028 C010300      1337
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028 C030300         0
028 C040300         3
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028 D030300         0
028 D040300        37
028 E010300       246
028 E020300         0
028 E030300         0
028 E040300        55
028 F010300       175
028 F020300       269
028 F030300         0
028 F040300       226
028 G010300      2717
028 G020300       269
028 G030300         0
028 G040300       322
028 H000300         0
045  000300 Y
046  000300 N
047  000300 Y
048  000300  0.600
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048 C020300 0.000
048 D010300        0
048 D020300 0.000
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048 E020300 0.000
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048 F020300 0.000
<PAGE>      PAGE  11
048 G010300        0
048 G020300 0.000
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048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
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048 K020300 0.000
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
062 A000300 N
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
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062 O000300   0.0
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066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
<PAGE>      PAGE  12
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 Y
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 N
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
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071 A000300      8871
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<PAGE>      PAGE  13
072 T000300        0
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072 Z000300      -14
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073 A010300   0.0000
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<PAGE>      PAGE  14
028 A010400       511
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<PAGE>      PAGE  15
048 J010400        0
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066 A000400 Y
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066 F000400 N
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<PAGE>      PAGE  16
070 H010400 N
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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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062 I000600   0.0
062 J000600   0.0
062 K000600   0.0
062 L000600   0.0
062 M000600   0.0
062 N000600   0.0
062 O000600   0.0
062 P000600   0.0
062 Q000600   0.0
062 R000600   0.0
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067  000600 N
068 A000600 N
068 B000600 N
069  000600 N
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
<PAGE>      PAGE  20
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 Y
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
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<PAGE>      PAGE  21
072DD020600        0
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074 A000600        9
074 B000600     3981
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074 D000600      157
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074 H000600        0
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<PAGE>      PAGE  22
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045  000700 Y
046  000700 N
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048 I010700        0
048 I020700 0.000
048 J010700        0
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055 A000700 N
055 B000700 N
056  000700 Y
057  000700 N
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<PAGE>      PAGE  23
062 E000700   0.0
062 F000700   0.0
062 G000700   0.0
062 H000700   0.0
062 I000700   0.0
062 J000700   0.0
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062 O000700   0.0
062 P000700   2.9
062 Q000700   7.7
062 R000700   0.0
063 A000700   0
063 B000700  9.5
064 A000700 N
064 B000700 Y
065  000700 Y
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 N
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 Y
070 L010700 Y
070 L020700 Y
070 M010700 N
070 M020700 N
070 N010700 Y
<PAGE>      PAGE  24
070 N020700 N
070 O010700 N
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
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072 B000700     2921
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072 N000700        0
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072 U000700        0
072 V000700        0
072 W000700       11
072 X000700      385
072 Y000700       26
072 Z000700     2562
072AA000700       45
072BB000700        0
072CC010700     1452
072CC020700        0
072DD010700     2606
072DD020700        0
072EE000700       57
073 A010700   0.5800
073 A020700   0.0000
073 B000700   0.1000
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<PAGE>      PAGE  25
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074 D000700    53487
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074 F000700        0
074 G000700        0
074 H000700        0
074 I000700        0
074 J000700        8
074 K000700        0
074 L000700      482
074 M000700        0
074 N000700    60941
074 O000700        0
074 P000700        0
074 Q000700        0
074 R010700        0
074 R020700        0
074 R030700        0
074 R040700       49
074 S000700        0
074 T000700    60892
074 U010700     5677
074 U020700        0
074 V010700    10.73
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074 W000700   0.0000
074 X000700        3
074 Y000700        0
075 A000700        0
075 B000700    55444
076  000700     0.00
SIGNATURE   MARK S REDMAN                                
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

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<CIK> 0000932736
<NAME> THE PEGASUS PATHMAKER VARIABLE ANNUITY FUND
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   <NAME> PEGASUS GROWTH & VALUE FUND
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000932736
<NAME> THE PEGASUS PATHMAKER VARIABLE ANNUITY FUND
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   <NAME> MID-CAP OPPORTUNITY FUND
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000932736
<NAME> THE PEGASUS PATHMAKER VARIABLE ANNUITY FUND
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   <NAME> PEGASUS GROWTH FUND
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000932736
<NAME> THE PEGASUS PATHMAKER VARIABLE ANNUITY FUND
<SERIES>
   <NUMBER> 6
   <NAME> PEGASUS INTRINSIC VALUE FUND
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000932736
<NAME> THE PEGASUS PATHMAKER VARIABLE ANNUITY FUND
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   <NUMBER> 7
   <NAME> PEGASUS BOND FUND
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</TABLE>


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