LAKE FOREST FUNDS
NSAR-A, 1998-11-02
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<PAGE>      PAGE  1
000 A000000 08/31/98
000 C000000 0000934346
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 LAKE FOREST FUNDS
001 B000000 811-8906
001 C000000 7082955700
002 A000000 ONE WESTMINSTER PLACE
002 B000000 LAKE FOREST
002 C000000 IL
002 D010000 60045
002 D020000 1821
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 CORE EQUITY FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 BOBERSKI & CO.
008 B00AA01 A
008 C00AA01 801-5908
008 D01AA01 LAKE FOREST
008 D02AA01 IL
008 D03AA01 60045
010 A00AA01 AMERICAN DATA SERVICES
010 C01AA01 HAUPPAUGE
010 C02AA01 NY
010 C03AA01 11788
012 A00AA01 AMERICAN DATA SERVICES, INC
012 B00AA01 84-1964
012 C01AA01 HAUPPAUGE
012 C02AA01 NY
<PAGE>      PAGE  2
012 C03AA01 11788
013 A00AA01 MCCURDY & ASSOCIATES, INC.
013 B01AA01 WESTLAKE
013 B02AA01 OH
013 B03AA01 44145
015 A00AA01 STAR BANK, N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 SMITH BARNEY
020 C000001      1
020 A000002 MORGAN STANLEY
020 C000002      1
020 A000003 DEAN WITTER
020 C000003      1
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        4
022 A000001 DEAN WITTER
022 C000001    124358
022 D000001    124358
022 A000002 MERRILL LYNCH
022 C000002     35037
022 D000002     34794
022 A000003 MORGAN STANLEY
022 C000003     12433
022 D000003     12433
022 A000004 SMITH BARNEY
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<PAGE>      PAGE  3
022 D000010         0
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023 D000000     171584
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025 D00AA05       0
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025 D00AA07       0
025 D00AA08       0
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026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
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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
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
<PAGE>      PAGE  4
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     2500
077 A000000 N
078  000000 N
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081 B00AA00   0
082 B00AA00        0
083 B00AA00        0
084 B00AA00        0
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086 E020000      0
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086 F020000      0
028 A010100      1046
028 A020100        17
028 A030100         0
028 A040100       259
028 B010100       373
028 B020100        22
028 B030100         0
028 B040100       159
028 C010100      1422
028 C020100        25
028 C030100         0
028 C040100       134
028 D010100       496
028 D020100        31
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028 D040100       180
<PAGE>      PAGE  5
028 E010100       310
028 E020100        32
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028 F010100       298
028 F020100        34
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028 F040100       250
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028 G020100       161
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045  000100 Y
046  000100 N
047  000100 Y
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048 I020100 0.000
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062 A000100 Y
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062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
<PAGE>      PAGE  6
062 M000100   0.0
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062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100   1
063 B000100  0.0
064 A000100 N
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
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 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
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070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
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<PAGE>      PAGE  7
071 A000100         0
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072 E000100        0
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072 I000100        0
072 J000100        0
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072 L000100        0
072 M000100        0
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072 V000100        0
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073 A010100   0.0300
073 A020100   0.0000
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073 C000100   0.0000
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074 C000100     8375
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<PAGE>      PAGE  8
074 K000100        0
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028 A010200       194
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028 G030200         0
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<PAGE>      PAGE  9
028 H000200         0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  1.250
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048 D010200        0
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048 I010200        0
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048 K010200        0
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062 A000200 N
062 B000200   0.0
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062 G000200   0.0
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062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
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062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
<PAGE>      PAGE  10
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
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 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200      1954
071 B000200         0
071 C000200      7580
071 D000200    0
072 A000200  6
072 B000200       38
072 C000200       66
072 D000200        0
072 E000200        0
072 F000200       57
<PAGE>      PAGE  11
072 G000200        0
072 H000200        0
072 I000200        0
072 J000200        0
072 K000200        0
072 L000200        0
072 M000200        0
072 N000200        0
072 O000200        0
072 P000200        0
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073 A010200   0.1400
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<PAGE>      PAGE  12
074 R040200       86
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074 V010200    23.75
074 V020200     0.00
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074 Y000200        0
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075 B000200     8953
076  000200     0.00
SIGNATURE   JAMES COLANTINO                              
TITLE       SENIOR ADMINISTRATOR
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000934346
<NAME> LAKE FOREST FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> MONEY MARKET FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          FEB-28-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                          8375000
<INVESTMENTS-AT-VALUE>                         8375000
<RECEIVABLES>                                    13699
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 8388699
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        46634
<TOTAL-LIABILITIES>                              46634
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       8342065
<SHARES-COMMON-STOCK>                          8342065
<SHARES-COMMON-PRIOR>                          5331627
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
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<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   8342065
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               202534
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    4554
<NET-INVESTMENT-INCOME>                         197980
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<NET-CHANGE-FROM-OPS>                           197980
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       197980
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        3945746
<NUMBER-OF-SHARES-REDEEMED>                    1095875
<SHARES-REINVESTED>                             160567
<NET-CHANGE-IN-ASSETS>                         3010438
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   4554
<AVERAGE-NET-ASSETS>                           7293525
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .03
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   .125
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000934346
<NAME> LAKE FOREST FUNDS
<SERIES>
   <NUMBER> 2
   <NAME> CORE EQUITY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          FEB-28-1998
<PERIOD-END>                               AUG-31-1998
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<INVESTMENTS-AT-VALUE>                         9147000
<RECEIVABLES>                                    36498
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 9183498
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        96129
<TOTAL-LIABILITIES>                              96129
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       8376353
<SHARES-COMMON-STOCK>                           382553
<SHARES-COMMON-PRIOR>                           304718
<ACCUMULATED-NII-CURRENT>                        15164
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (172)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        696024
<NET-ASSETS>                                   9087369
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<OTHER-INCOME>                                       0
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<NET-CHANGE-FROM-OPS>                         (863775)
<EQUALIZATION>                                       0
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<ACCUMULATED-GAINS-PRIOR>                        (213)
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<PER-SHARE-GAIN-APPREC>                         (2.12)
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<EXPENSE-RATIO>                                   1.26
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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