TIME HORIZON FUNDS
NSAR-A, 1998-02-26
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<PAGE>      PAGE  1
000 A000000 12/31/97
000 C000000 0000944309
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 TIME HORIZON FUNDS
001 B000000 811-9024
001 C000000 8007225558
002 A000000 103 BELLEVUE PARKWAY
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19809
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 PORTFOLIO 1
007 C030100 N
007 C010200  2
007 C020200 PORTFOLIO 2
007 C030200 N
007 C010300  3
007 C020300 PORTFOLIO 3
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 BANK OF AMERICA
008 B00AA01 A
008 C00AA01 801-84000
008 D01AA01 SAN FRANCISCO
008 D02AA01 CA
008 D03AA01 94104
010 A00AA01 BANK OF AMERICA
010 C01AA01 SAN FRANCISCO
010 C02AA01 CA
010 C03AA01 94104
011 A00AA01 CONCORD FINANCIAL GROUP
011 B00AA01 8-00000000
011 C01AA01 COLUMBUS
<PAGE>      PAGE  2
011 C02AA01 OH
011 C03AA01 43219
012 A00AA01 PFPC, INC.
012 B00AA01 84-0000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 ERNST & YOUNG L.L.P.
013 B01AA01 LOS ANGELES
013 B02AA01 CA
013 B03AA01 90071
014 A00AA01 BANK OF AMERICA INVESTMENT SERVICES
014 B00AA01 8-00000
015 A00AA01 PNC BANK, N.A.
015 B00AA01 C
015 C01AA01 LESTER
015 C02AA01 PA
015 C03AA01 19113
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   25
019 C00AA00 PACHORIZON
020 A000001 DONALDSON, LUFKIN & JENRETTE SECURITIES
020 B000001 13-2741729
020 C000001      4
020 A000002 MORGAN STANLEY
020 B000002 13-2655998
020 C000002      2
020 A000003 MERRILL LYNCH, PIERCE, FENNER SMITH, INC.
020 B000003 13-5674085
020 C000003      2
020 A000004 PAINE WEBBER, INC.
020 B000004 13-2638166
020 C000004      2
020 A000005 BROWN (ALEX) & SON, INC.
020 B000005 52-1319768
020 C000005      2
020 A000006 BERNSTEIN (SANFORD C.) & CO., INC.
020 B000006 13-2625874
020 C000006      2
020 A000007 OPPENHEIMER & CO., INC.
020 B000007 13-2798343
020 C000007      2
020 A000008 GOLDMAN SACHS & CO.
020 B000008 13-5108880
020 C000008      1
020 A000009 INVESTMENT & TECHNOLOGY GROUP
020 B000009 95-4339369
020 C000009      1
020 A000010 ROBERTSON, STEPHENS & CO., LLC.
<PAGE>      PAGE  3
020 B000010 94-2524501
020 C000010      1
021  000000       22
022 A000001 SPEAR, LEEDS & KELLOGG
022 B000001 13-5515160
022 C000001      5695
022 D000001      4718
022 A000002 CLARKE (G.X.) & CO.
022 B000002 13-2966143
022 C000002      3984
022 D000002      2503
022 A000003 BEAR STEARNS & CO., INC.
022 B000003 13-3299429
022 C000003      1041
022 D000003      3680
022 A000004 STANDER INVESTMENT SECURITIES, INC.
022 B000004 13-3777308
022 C000004      1501
022 D000004      2150
022 A000005 PAINE WEBBER, INC.
022 B000005 13-2638166
022 C000005      1372
022 D000005      1820
022 A000006 DONALDSON, LUFKIN, JENRETTE SECURITIES
022 B000006 13-2741729
022 C000006      1074
022 D000006      1787
022 A000007 MORGAN STANLEY
022 B000007 13-2655998
022 C000007       792
022 D000007      1984
022 A000008 INVESTMENT TECHNOLOGY GROUP
022 B000008 95-4339369
022 C000008       408
022 D000008      2300
022 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000009 13-5674085
022 C000009       774
022 D000009      1075
022 A000010 FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000010 36-3595942
022 C000010      1516
022 D000010        41
023 C000000      22636
023 D000000      22436
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
<PAGE>      PAGE  4
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
037  00AA00 N
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039  00AA00 N
040  00AA00 Y
041  00AA00 Y
045  00AA00 Y
046  00AA00 N
047  00AA00 Y
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054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
<PAGE>      PAGE  5
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
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066 C00AA00 N
066 D00AA00 N
066 E00AA00 N
066 F00AA00 N
066 G00AA00 Y
067  00AA00 Y
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070 A01AA00 Y
070 A02AA00 N
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
<PAGE>      PAGE  6
070 C02AA00 N
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070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 Y
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 Y
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
078  000000 N
080 A00AA00 CHUBB GROUP OF INSURANCE
080 C00AA00     4775
081 A00AA00 Y
081 B00AA00   2
082 A00AA00 N
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083 A00AA00 N
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084 A00AA00 N
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085 B00AA00 N
024  000100 Y
025 A000101 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 C000101 E
025 D000101     142
025 A000102 PAINE WEBBER GROUP, INC.
025 C000102 E
<PAGE>      PAGE  7
025 D000102      71
025 A000103 BEAR STEARNS
025 C000103 D
025 D000103     408
025 A000104 MERRILL LYNCH
025 C000104 D
025 D000104     349
025 A000105 MORGAN STANLEY GROUP, INC.
025 C000105 D
025 D000105     803
025 D000106       0
025 D000107       0
025 D000108       0
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028 A020100         0
028 A030100         0
028 A040100       629
028 B010100       557
028 B020100         0
028 B030100         0
028 B040100       410
028 C010100       131
028 C020100         0
028 C030100         0
028 C040100       537
028 D010100        79
028 D020100         0
028 D030100         0
028 D040100       494
028 E010100        40
028 E020100         0
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028 E040100       504
028 F010100       156
028 F020100      2230
028 F030100         0
028 F040100       378
028 G010100      1203
028 G020100      2230
028 G030100         0
028 G040100      2952
028 H000100         0
029  000100 N
030 A000100      0
030 B000100  0.00
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
034  000100 Y
<PAGE>      PAGE  8
035  000100     37
036 A000100 N
036 B000100      0
042 A000100   0
042 B000100   0
042 C000100 100
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100    119
044  000100      0
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
071 A000100     13337
071 B000100     12409
071 C000100     38398
071 D000100   32
072 A000100  6
072 B000100      834
072 C000100       64
072 D000100        0
072 E000100        0
072 F000100      123
072 G000100        0
072 H000100        0
072 I000100       51
072 J000100       14
072 K000100        0
072 L000100       18
072 M000100       10
072 N000100       17
072 O000100        0
072 P000100        0
072 Q000100       15
072 R000100        8
072 S000100       14
072 T000100      119
072 U000100        3
072 V000100        0
072 W000100       38
072 X000100      430
072 Y000100       65
072 Z000100      533
072AA000100     1037
072BB000100        0
072CC010100      565
072CC020100        0
<PAGE>      PAGE  9
072DD010100      557
072DD020100      556
072EE000100     1167
073 A010100   0.5390
073 A020100   0.5390
073 B000100   0.3526
073 C000100   0.0000
074 A000100        0
074 B000100        0
074 C000100      411
074 D000100    25492
074 E000100        0
074 F000100    12514
074 G000100        0
074 H000100        0
074 I000100     1847
074 J000100       11
074 K000100        0
074 L000100      347
074 M000100       16
074 N000100    40638
074 O000100       11
074 P000100       39
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100      245
074 S000100        0
074 T000100    40343
074 U010100     1746
074 U020100     1745
074 V010100     0.00
074 V020100     0.00
074 W000100   0.0000
074 X000100     1792
074 Y000100        0
075 A000100        0
075 B000100    40697
076  000100     0.00
024  000200 Y
025 A000201 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 C000201 E
025 D000201     219
025 A000202 PAINE WEBBER GROUP, INC.
025 C000202 E
025 D000202     118
025 A000203 BEAR STEARNS CO.
025 C000203 D
025 D000203     408
025 A000204 MERRILL LYNCH & CO., INC.
<PAGE>      PAGE  10
025 C000204 D
025 D000204     349
025 A000205 MORGAN STANLEY GROUP, INC.
025 C000205 D
025 D000205     268
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200       461
028 A020200         0
028 A030200         0
028 A040200       753
028 B010200       935
028 B020200         0
028 B030200         0
028 B040200       410
028 C010200       294
028 C020200         0
028 C030200         0
028 C040200       417
028 D010200       581
028 D020200         0
028 D030200         0
028 D040200       729
028 E010200       348
028 E020200         0
028 E030200         0
028 E040200       387
028 F010200       189
028 F020200      2326
028 F030200         0
028 F040200       439
028 G010200      2808
028 G020200      2326
028 G030200         0
028 G040200      3135
028 H000200         0
029  000200 N
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030 B000200  0.00
030 C000200  0.00
031 A000200      0
031 B000200      0
032  000200      0
033  000200      0
034  000200 Y
035  000200     33
036 A000200 N
036 B000200      0
042 A000200   0
042 B000200   0
<PAGE>      PAGE  11
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200    132
044  000200      0
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
071 A000200     13659
071 B000200     14104
071 C000200     42452
071 D000200   32
072 A000200  6
072 B000200      791
072 C000200       88
072 D000200        0
072 E000200        0
072 F000200      142
072 G000200        0
072 H000200        0
072 I000200       59
072 J000200       16
072 K000200        0
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072 M000200       11
072 N000200       19
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072 P000200        0
072 Q000200       15
072 R000200        8
072 S000200       16
072 T000200      133
072 U000200        3
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072 W000200       48
072 X000200      491
072 Y000200       77
072 Z000200      465
072AA000200     1188
072BB000200        0
072CC010200      994
072CC020200        0
072DD010200      492
072DD020200      491
072EE000200     1363
073 A010200   0.4270
073 A020200   0.4270
<PAGE>      PAGE  12
073 B000200   0.3690
073 C000200   0.0000
074 A000200        1
074 B000200        0
074 C000200      883
074 D000200    22444
074 E000200        0
074 F000200    19666
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074 M000200       18
074 N000200    47438
074 O000200       18
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074 Q000200        0
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074 W000200   0.0000
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074 Y000200        0
075 A000200        0
075 B000200    46864
076  000200     0.00
024  000300 Y
025 A000301 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 C000301 E
025 D000301     396
025 A000302 PAINE WEBBER GROUP, INC.
025 C000302 E
025 D000302     159
025 A000303 BEAR STEARNS CO.
025 C000303 D
025 D000303     408
025 D000304       0
025 D000305       0
025 D000306       0
025 D000307       0
025 D000308       0
028 A010300       862
<PAGE>      PAGE  13
028 A020300         0
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029  000300 N
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031 B000300      0
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033  000300      0
034  000300 Y
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036 A000300 N
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042 B000300   0
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042 D000300   0
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055 A000300 N
<PAGE>      PAGE  14
055 B000300 N
056  000300 Y
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<PAGE>      PAGE  15
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SIGNATURE   KATHY THREN                                  
TITLE       COUNSEL             
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 011
   <NAME> PORTFOLIO 1 - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                         36850408
<INVESTMENTS-AT-VALUE>                        40263606
<RECEIVABLES>                                   357688
<ASSETS-OTHER>                                   16707
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                40638001
<PAYABLE-FOR-SECURITIES>                         10998
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       283810
<TOTAL-LIABILITIES>                             294808
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      36689539
<SHARES-COMMON-STOCK>                          3490762
<SHARES-COMMON-PRIOR>                          3445511
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           48508
<ACCUMULATED-NET-GAINS>                         288964
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<INTEREST-INCOME>                               833653
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  364959
<NET-INVESTMENT-INCOME>                         532794
<REALIZED-GAINS-CURRENT>                       1036897
<APPREC-INCREASE-CURRENT>                       564821
<NET-CHANGE-FROM-OPS>                          2134512
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1113457)
<DISTRIBUTIONS-OF-GAINS>                     (1167402)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         100401
<NUMBER-OF-SHARES-REDEEMED>                     246000
<SHARES-REINVESTED>                             190850
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<ACCUMULATED-GAINS-PRIOR>                       419469
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<PER-SHARE-NAV-BEGIN>                            11.67
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<PER-SHARE-DIVIDEND>                             (.39)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 012
   <NAME> PORTFOLIO 1 - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
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<INVESTMENTS-AT-VALUE>                        40263606
<RECEIVABLES>                                   357688
<ASSETS-OTHER>                                   16707
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                40638001
<PAYABLE-FOR-SECURITIES>                         10998
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       283810
<TOTAL-LIABILITIES>                             294808
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      36689539
<SHARES-COMMON-STOCK>                          3490762
<SHARES-COMMON-PRIOR>                          3445511
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           48508
<ACCUMULATED-NET-GAINS>                         288964
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       3413198
<NET-ASSETS>                                  40343193
<DIVIDEND-INCOME>                                64100
<INTEREST-INCOME>                               833653
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  364959
<NET-INVESTMENT-INCOME>                         532794
<REALIZED-GAINS-CURRENT>                       1036897
<APPREC-INCREASE-CURRENT>                       564821
<NET-CHANGE-FROM-OPS>                          2134512
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1113457)
<DISTRIBUTIONS-OF-GAINS>                     (1167402)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         100401
<NUMBER-OF-SHARES-REDEEMED>                     246000
<SHARES-REINVESTED>                             190850
<NET-CHANGE-IN-ASSETS>                          334388
<ACCUMULATED-NII-PRIOR>                         532155
<ACCUMULATED-GAINS-PRIOR>                       419469
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           123078
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 429892
<AVERAGE-NET-ASSETS>                          40697357
<PER-SHARE-NAV-BEGIN>                            11.60
<PER-SHARE-NII>                                    .14
<PER-SHARE-GAIN-APPREC>                            .45
<PER-SHARE-DIVIDEND>                             (.31)
<PER-SHARE-DISTRIBUTIONS>                        (.35)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.53
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 013
   <NAME> PORTFOLIO 1 - CLASS K
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                         36850408
<INVESTMENTS-AT-VALUE>                        40263606
<RECEIVABLES>                                   357688
<ASSETS-OTHER>                                   16707
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                40638001
<PAYABLE-FOR-SECURITIES>                         10998
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       283810
<TOTAL-LIABILITIES>                             294808
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      36689539
<SHARES-COMMON-STOCK>                          3490762
<SHARES-COMMON-PRIOR>                          3445511
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           48508
<ACCUMULATED-NET-GAINS>                         288964
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       3413198
<NET-ASSETS>                                  40343193
<DIVIDEND-INCOME>                                64100
<INTEREST-INCOME>                               833653
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  364959
<NET-INVESTMENT-INCOME>                         532794
<REALIZED-GAINS-CURRENT>                       1036897
<APPREC-INCREASE-CURRENT>                       564821
<NET-CHANGE-FROM-OPS>                          2134512
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1113457)
<DISTRIBUTIONS-OF-GAINS>                     (1167402)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         100401
<NUMBER-OF-SHARES-REDEEMED>                     246000
<SHARES-REINVESTED>                             190850
<NET-CHANGE-IN-ASSETS>                          334388
<ACCUMULATED-NII-PRIOR>                         532155
<ACCUMULATED-GAINS-PRIOR>                       419469
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           123078
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 429892
<AVERAGE-NET-ASSETS>                          40697357
<PER-SHARE-NAV-BEGIN>                            11.61
<PER-SHARE-NII>                                    .07
<PER-SHARE-GAIN-APPREC>                            .60
<PER-SHARE-DIVIDEND>                             (.38)
<PER-SHARE-DISTRIBUTIONS>                        (.35)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.55
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 021
   <NAME> PORTFOLIO 2 - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-30-1997
<INVESTMENTS-AT-COST>                         41889246
<INVESTMENTS-AT-VALUE>                        47044254
<RECEIVABLES>                                   375053
<ASSETS-OTHER>                                   53454
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                47472761
<PAYABLE-FOR-SECURITIES>                         17593
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       191912
<TOTAL-LIABILITIES>                             209505
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      41674874
<SHARES-COMMON-STOCK>                          3888293
<SHARES-COMMON-PRIOR>                          3723120
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           62348
<ACCUMULATED-NET-GAINS>                         495722
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       5155008
<NET-ASSETS>                                  47263256
<DIVIDEND-INCOME>                                88862
<INTEREST-INCOME>                               790990
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  414587
<NET-INVESTMENT-INCOME>                         465265
<REALIZED-GAINS-CURRENT>                       1187749
<APPREC-INCREASE-CURRENT>                       994223
<NET-CHANGE-FROM-OPS>                          2647237
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (983496)
<DISTRIBUTIONS-OF-GAINS>                     (1362943)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         223210
<NUMBER-OF-SHARES-REDEEMED>                     248103
<SHARES-REINVESTED>                             190066
<NET-CHANGE-IN-ASSETS>                         2299901
<ACCUMULATED-NII-PRIOR>                         455883
<ACCUMULATED-GAINS-PRIOR>                       670916
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           141701
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 491200
<AVERAGE-NET-ASSETS>                          46863995
<PER-SHARE-NAV-BEGIN>                            12.15
<PER-SHARE-NII>                                    .20
<PER-SHARE-GAIN-APPREC>                            .60
<PER-SHARE-DIVIDEND>                             (.32)
<PER-SHARE-DISTRIBUTIONS>                        (.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.26
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 022
   <NAME> PORTFOLIO 2 - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-30-1997
<INVESTMENTS-AT-COST>                         41889246
<INVESTMENTS-AT-VALUE>                        47044254
<RECEIVABLES>                                   375053
<ASSETS-OTHER>                                   53454
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                47472761
<PAYABLE-FOR-SECURITIES>                         17593
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       191912
<TOTAL-LIABILITIES>                             209505
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      41674874
<SHARES-COMMON-STOCK>                          3888293
<SHARES-COMMON-PRIOR>                          3723120
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           62348
<ACCUMULATED-NET-GAINS>                         495722
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       5155008
<NET-ASSETS>                                  47263256
<DIVIDEND-INCOME>                                88862
<INTEREST-INCOME>                               790990
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  414587
<NET-INVESTMENT-INCOME>                         465265
<REALIZED-GAINS-CURRENT>                       1187749
<APPREC-INCREASE-CURRENT>                       994223
<NET-CHANGE-FROM-OPS>                          2647237
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (983496)
<DISTRIBUTIONS-OF-GAINS>                     (1362943)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         223210
<NUMBER-OF-SHARES-REDEEMED>                     248103
<SHARES-REINVESTED>                             190066
<NET-CHANGE-IN-ASSETS>                         2299901
<ACCUMULATED-NII-PRIOR>                         455883
<ACCUMULATED-GAINS-PRIOR>                       670916
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           141701
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 491200
<AVERAGE-NET-ASSETS>                          46863995
<PER-SHARE-NAV-BEGIN>                            12.05
<PER-SHARE-NII>                                    .09
<PER-SHARE-GAIN-APPREC>                            .59
<PER-SHARE-DIVIDEND>                             (.24)
<PER-SHARE-DISTRIBUTIONS>                        (.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.12
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 023
   <NAME> PORTFOLIO 2 - CLASS K
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-30-1997
<INVESTMENTS-AT-COST>                         41889246
<INVESTMENTS-AT-VALUE>                        47044254
<RECEIVABLES>                                   375053
<ASSETS-OTHER>                                   53454
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                47472761
<PAYABLE-FOR-SECURITIES>                         17593
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       191912
<TOTAL-LIABILITIES>                             209505
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      41674874
<SHARES-COMMON-STOCK>                          3888293
<SHARES-COMMON-PRIOR>                          3723120
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           62348
<ACCUMULATED-NET-GAINS>                         495722
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       5155008
<NET-ASSETS>                                  47263256
<DIVIDEND-INCOME>                                88862
<INTEREST-INCOME>                               790990
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  414587
<NET-INVESTMENT-INCOME>                         465265
<REALIZED-GAINS-CURRENT>                       1187749
<APPREC-INCREASE-CURRENT>                       994223
<NET-CHANGE-FROM-OPS>                          2647237
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (983496)
<DISTRIBUTIONS-OF-GAINS>                     (1362943)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         223210
<NUMBER-OF-SHARES-REDEEMED>                     248103
<SHARES-REINVESTED>                             190066
<NET-CHANGE-IN-ASSETS>                         2299901
<ACCUMULATED-NII-PRIOR>                         455883
<ACCUMULATED-GAINS-PRIOR>                       670916
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           141701
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 491200
<AVERAGE-NET-ASSETS>                          46863995
<PER-SHARE-NAV-BEGIN>                            12.03
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                            .63
<PER-SHARE-DIVIDEND>                             (.30)
<PER-SHARE-DISTRIBUTIONS>                        (.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.11
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 031
   <NAME> PORTFOLIO 3 - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                         44857386
<INVESTMENTS-AT-VALUE>                        52381648
<RECEIVABLES>                                   257094
<ASSETS-OTHER>                                   18682
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                52657424
<PAYABLE-FOR-SECURITIES>                         13193
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       186171
<TOTAL-LIABILITIES>                             199364
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      44540100
<SHARES-COMMON-STOCK>                          4007789
<SHARES-COMMON-PRIOR>                          3754891
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (78473)
<ACCUMULATED-NET-GAINS>                         472171
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       7524262
<NET-ASSETS>                                  52458060
<DIVIDEND-INCOME>                                 6962
<INTEREST-INCOME>                               741639
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  457734
<NET-INVESTMENT-INCOME>                         290867
<REALIZED-GAINS-CURRENT>                       1514910
<APPREC-INCREASE-CURRENT>                      1720552
<NET-CHANGE-FROM-OPS>                          3526329
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (662644)
<DISTRIBUTIONS-OF-GAINS>                     (2091115)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         268868
<NUMBER-OF-SHARES-REDEEMED>                     224847
<SHARES-REINVESTED>                             208877
<NET-CHANGE-IN-ASSETS>                         4094063
<ACCUMULATED-NII-PRIOR>                         293304
<ACCUMULATED-GAINS-PRIOR>                      1048376
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           156010
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 552733
<AVERAGE-NET-ASSETS>                          51602032
<PER-SHARE-NAV-BEGIN>                            12.95
<PER-SHARE-NII>                                    .16
<PER-SHARE-GAIN-APPREC>                            .87
<PER-SHARE-DIVIDEND>                             (.23)
<PER-SHARE-DISTRIBUTIONS>                        (.55)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.20
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 032
   <NAME> PORTFOLIO 3 - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                         44857386
<INVESTMENTS-AT-VALUE>                        52381648
<RECEIVABLES>                                   257094
<ASSETS-OTHER>                                   18682
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                52657424
<PAYABLE-FOR-SECURITIES>                         13193
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       186171
<TOTAL-LIABILITIES>                             199364
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      44540100
<SHARES-COMMON-STOCK>                          4007789
<SHARES-COMMON-PRIOR>                          3754891
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (78473)
<ACCUMULATED-NET-GAINS>                         472171
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       7524262
<NET-ASSETS>                                  52458060
<DIVIDEND-INCOME>                                 6962
<INTEREST-INCOME>                               741639
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  457734
<NET-INVESTMENT-INCOME>                         290867
<REALIZED-GAINS-CURRENT>                       1514910
<APPREC-INCREASE-CURRENT>                      1720552
<NET-CHANGE-FROM-OPS>                          3526329
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (662644)
<DISTRIBUTIONS-OF-GAINS>                     (2091115)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         268868
<NUMBER-OF-SHARES-REDEEMED>                     224847
<SHARES-REINVESTED>                             208877
<NET-CHANGE-IN-ASSETS>                         4094063
<ACCUMULATED-NII-PRIOR>                         293304
<ACCUMULATED-GAINS-PRIOR>                      1048376
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           156010
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 552733
<AVERAGE-NET-ASSETS>                          51602032
<PER-SHARE-NAV-BEGIN>                            12.86
<PER-SHARE-NII>                                    .04
<PER-SHARE-GAIN-APPREC>                            .85
<PER-SHARE-DIVIDEND>                             (.15)
<PER-SHARE-DISTRIBUTIONS>                        (.55)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.05
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 033
   <NAME> PORTFOLIO 3 - CLASS K
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                         44857386
<INVESTMENTS-AT-VALUE>                        52381648
<RECEIVABLES>                                   257094
<ASSETS-OTHER>                                   18682
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                52657424
<PAYABLE-FOR-SECURITIES>                         13193
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       186171
<TOTAL-LIABILITIES>                             199364
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      44540100
<SHARES-COMMON-STOCK>                          4007789
<SHARES-COMMON-PRIOR>                          3754891
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (78473)
<ACCUMULATED-NET-GAINS>                         472171
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       7524262
<NET-ASSETS>                                  52458060
<DIVIDEND-INCOME>                                 6962
<INTEREST-INCOME>                               741639
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  457734
<NET-INVESTMENT-INCOME>                         290867
<REALIZED-GAINS-CURRENT>                       1514910
<APPREC-INCREASE-CURRENT>                      1720552
<NET-CHANGE-FROM-OPS>                          3526329
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (662644)
<DISTRIBUTIONS-OF-GAINS>                     (2091115)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         268868
<NUMBER-OF-SHARES-REDEEMED>                     224847
<SHARES-REINVESTED>                             208877
<NET-CHANGE-IN-ASSETS>                         4094063
<ACCUMULATED-NII-PRIOR>                         293304
<ACCUMULATED-GAINS-PRIOR>                      1048376
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           156010
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 552733
<AVERAGE-NET-ASSETS>                          51602032
<PER-SHARE-NAV-BEGIN>                            12.89
<PER-SHARE-NII>                                  (.05)
<PER-SHARE-GAIN-APPREC>                           1.03
<PER-SHARE-DIVIDEND>                             (.22)
<PER-SHARE-DISTRIBUTIONS>                        (.55)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.10
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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